Over breakfast Lucy tries to convince Ricky to buy a walk-in freezer so they can save money. As usual Ricky says no. Fred and Ethel come by. Fred mentions that there is not going to be any heat today because he replaced the fire brick in the furnace. Ethel then remembers that her Uncle Oscar has a big walk-in freezer that he needs to get rid of because he's retiring from the butcher business. All they have to pay is for the installation and hauling which is around $50. Lucy goes to order the meat. The meat company is charging 69 cents a pound but they only sell meat by the side. Not realizing how much a side of beef is, Lucy orders a side for each of them. Using the rationale that they are saving a lot of money the girls go out shopping.
The meat is delivered as soon as they get home. Workers come in carrying load after load after load of meat filling up the kitchen. It's 700 pounds of meat costing them $483. The meat company won't take the meat back after it's been cut. They decide to sell some of the meat.
Ethel walks into a butcher shop with a baby buggy. Lucy tries to get customers while they are waiting in line to be helped by the butcher. Using a clever sales pitch she manages to get customers until they are chased out by the butcher.
Lucy and Ethel hurry to carry the meat into the freezer. They use a chair to prop open the door. When they finished Lucy pulls the chair away from the door and sits on it. What she doesn't know is that Ethel is locked inside. They hear Ricky and Fred's voices thinking they are headed to the basement but they heard them through the furnace pipe. The girls rush upstairs to greet them.
Upstairs Fred mentions that he saw Uncle Oscar. But instead of being angry the boys are happy with the savvy business deal the girls made. They are so happy that the boys bring home 30 pounds of meat to put into the freezer. The plan now is for Ethel to distract the boys while Lucy has a chance to move all the meat out of the freezer. Ethel asks Ricky to sings and being a ham he complies. Lucy rushes to move the meat placing it in the non-working furnace which is the only place big enough for all the meat to fit.
On a trip back to the freezer Lucy unknowingly kicks away the chair that was holding the door open. Lucy is now locked in the freezer. Ethel and the boys come downstairs and see Lucy with icicles all over her face in the freezer. They can't unlock the door to let her out because Lucy has the key. Fred gets a crowbar. After they pry the door open they carry her carefully upstairs.
Wrapped in an electric blanket while drinking soup Lucy tries to thaw out. The apartment soon fills with good smells. Fred went downstairs to light the furnace leading Lucy to comment, "follow me to the biggest barbecue in the whole world."