Fred and Lamont are appalled when they see a sitcom, Steinberg and Son which amazing seems to be modeled on the life of Fred and Lamont. Fred and Lamont decide to check it out themselves and go to a taping of an episode and are shocked to see the similarites. In fact, the only thing different from the sitcom and Fred and Lamont's lives are the names of the characters and the fact that the cast is white. Lamont and Fred hire a lawyer and prepare a million dollar lawsuit againt the producers.

Donna receives a marriage proposal from another man and she decides to base her answer on whether or not Fred is ever going to ask her. Fred must make the choice now as to whether or not he is going to marry Donna. This leads Fred into turmoil and leads him to ask Elizabeth a heart felt question on whether or not she would object to him remarrying.

Lamont is a judge for the Miss Watts Business Wife and the winner of the pageant wins $1,000. Fred quickly makes it clear that he will do anything to get his hands on the money. He even agrees to transform Aunt Esther into an elegant beauty as part of a bet he has with her husband, Woody.

Fred is a Scrooge-like miser during the Christmas season and his friends try to get him to join into the Christmas spirit, but he rejects the attempts. After being accused of a being a Scrooge, Fred falls asleep and dreams up "A Christmas Carol." Now it is up to the spirits to take on the challenge that his friends failed at.

Fred lands in the hospital after an accident in which Fred accidentally witnesses a murder attempt. With a guarded hospital room, Fred becomes suspicious of everyone since the real criminal wants him killed. However, Fred is after the reward money he'll get if he testifies despite putting his life on the line.

Lamont leaves town with Rollo to go on a fishing trip but before he goes, he makes a bet with Fred. He is sure Fred won't make money during the week he is gone. Fred sets to prove him wrong by renting out Lamont's room. Fred finds himself in a bind when the pregnant girl he boarded goes into labor.