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What Chip Gaines' Night in Jail Taught the Fixer Upper Couple About Money - Apartment Therapy

What Chip Gaines' Night in Jail Taught the Fixer Upper Couple About Money - Apartment Therapy
From The Kitchn - October 12, 2017

They may be HGTV tycoons these days, but that was not always the case for Chip and Joanna Gaines. The duo, who recently announced that they are ending their beloved home renovation show Fixer Upper, say they learned their best lesson about money over a decade ago, when Chip was tossed in the county jail after he was busted for having $2,500 racked up in tickets.

Business Insider reports that according to the duo's 2016 book, A Magnolia Story, the tickets were issued after neighbors complained about the couple's dogs roaming around in front of their house. But here's the plot twist: In order to come up with the $800 bail in order to spring Chip out of the slammer, Joanna had to take all the cash out of the register and safe in her shop. It was at that moment she realized they "were right on the edge of a real financial struggle."

Always the more fiscally conservative half of the dynamic renovation duo, Joanna says that after they married, the nest egg she brought into the marriage went into an investmentand unfortunately was gone by the time they really needed it.

"I think for me, the best lesson is always having a nest egg on the side," Gaines told Business Insider, adding that she always advises her clients to have some money stashed away when they are renovating. Chip, on the other hand, tends to be quite a bit footloose and fancy free with the couple's finances, a mentality he learned from his parents.

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