Latasha is a single mom and part-time student with a salary of $31,000 and debt totaling $104,000. Her $1,200 monthly mortgage payment is more than she can afford. To get by, she borrows money from student loans to pay off her mounting credit card debt. She's been on four vacations in the past three years, spending an average of $2,500 per trip. "I'm living way beyond my means," she says. "I need to get out of the cycle of debt before it's too late."

"It is never too late," says Jean Chatzky. Instead of vacations and other material goods, Oprah and Jean tell Latasha that she can provide a better legacy for her children by getting her finances under control. If Latasha doesn't act soon, interest rates could double her debt in five years and almost triple it in 10.

Jean is going to work with Latasha to get her income and expenses in order. Stay tuned as we follow their progress!