Lucy comes in to breakfast after borrowing bread from Betty Ramsey, the new neighbor. Ricky warns her about getting too chummy with the new neighbors too fast. Lucy insists that with her it's always instant chummy. She then slips into the conversation about how beautiful the Ramsey's house is decorated and she's getting some wonderful ideas for decorating their own. She goes into her disgust about her raggedy old furniture. She begs Ricky to let her buy new furniture. He can't afford it right now, they just bought a house and moved. She keeps begging and he finally agrees that she can spend $500. Betty Ramsey's little boy, Bruce, comes to play with little Ricky, seems like Lucy's not the only one who's instant chummy.
Ricky leaves for work and Betty comes over. Her husband Ralph has arranged for them to go shopping at store who will give them a great deal, 40% off everything, plus a trade in allowance on her old stuff. Betty suggests that a star like Ricky must be rich and generous. Lucy, too embarassed to correct her, just chuckles it off.
At the furniture store, Lucy and Betty are looking at all the great pieces. Lucy has to divert Betty's attention so she can sneak a peak at the prices. She's overjoyed at how cheap everything is. Betty tells her that those are not price tags that she's looking at, they're stock numbers. The store proprietor enters and announces that Lucy's purchases so far, including trade in and discout, total $1,875.50. Lucy plops into a chair from shock. She tries to talk Betty into forgetting everything, but doesn't want to tell her that she's only got $500 to spend, so she goes along and Betty keeps shopping for her.
The Ricardo's have a fully refurnished home. Lucy grabs the phone as soon as Betty leaves and calls Ethel and Fred to get them to come to the country, because Ricky won't be as mad at her for spending all that money if they are there.
Ricky arrives home but Lucy won't let him in. She insists he promise to not lose his temper. Lucy keeps on telling him of what happened at the furniture store thinking she has Ricky trapped in the doorway, but he's gone around the back and enters right when she says she's spent over $3,000. She screams and tries to run out the door, but he says he'll remain calm. She explains to him what happened and how she couldn't tell Betty she only was supposed to spend $500. Ricky insists that everything go back and that Lucy tell Betty the truth.
Ricky goes upstairs and Betty enters. Lucy tells her that they're just not comfortable with the furniture. Betty assumes Lucy is dissing her taste and goes off in a huff.
Lucy explains to Ricky what happened so he decides to go talk with Mr. Ramsey.
Ricky knocks and introduces himself to Ralph Ramsey. They find that they're both familiar with each other's work and Ralph even offers him a spot on a tv show. Ricky's ego takes over and he's not able to tell Ralph the truth. He tries to talk around it but Ralph assumes that he's saying his wife has bad taste. Tempers flare and Ralph kicks Ricky out telling him they'll get Xavier Cugat for the tv show.
Fred and Ethel arrive at the Ricardos and Ethel is mad about all the new furniture. Ricky comes in screaming about Ralph Ramsey pushing him into a rose bush. Little Ricky comes in and says that he and Bruce Ramsey got into a fight.
The Ramseys come over yelling about Little Ricky beating up their boy. They're all yelling when Ethel interrupts, "aren't you going to introduce us?" Lucy introduces the Mertes as 'our friends' and the Ramsey's as 'our enemies'. The quarreling continues and Ethel once again has to jump in. She finally tells the Ramseys that Lucy & Ricky just can't afford all the new furniture. The Ramseys then confess that they've been wanting to redecorate too but can't afford it either.
Apologies are made and Ralph tells Ricky he can have the tv show he was offered, it pays $3,500. Lucy is delighted, that'll just cover the cost of all the new furniture!