Fred does not feel like paying his bills and he throws them in the trash claiming that they never arrived, dragging out the services for as long as he can. After doing so, Fred receives threats that say that they will turn off the gas, electricity, and other utilities, and repossess his furniture if he does not pay.

Fred wants a new color television set and Lamont wants a new car. The problem is that they cannot afford both of them, so Lamont buys the car. However, after Fred discovers Lamont's purchase, he comes up with a scheme that involves him pretending to have amnesia until Lamont will buy him a color television.

While collecting junk, Lamont runs across an old suitcase and decides it could be worth something. However, once he gets it home, Fred makes a shocking discovery when he opens the case to discover that it is stuffed with money. Lamont wants to turn the money in and Fred wants to keep it and locks in a safe. Just then a gunman shows up wanting the money.

Fred and Donna reconcile their differences and get back together with marriage being on both of their minds. Fred breaks the news to Lamont, who once again is dead set against the whole idea and decides that two can play that game and cooks up a scheme to stop Fred and Donna's impending nuptials.

Fred is sure that his dreams will be good luck in picking numbers for a lottery and his hunch turns out to be true, despite the fact that Lamont forbids him to participate. Fred quickly finds himself $500 richer but also finds Aunt Ethel and Bubba needing quick cash.

Fred's toothache becomes an exercise in patience for Lamont when Fred refuses to see a dentist and instead tries Bubba's home remedy and a hypnotist. Finally, Fred decides to throw in the towel and visits a dentist but insists on a white dentist.

Fred gets a surprise one night when Lamont announces that he's having some friends over to play poker. However, Fred doesn't take Lamont's advice at "getting lost" since he's convinced Lamont's so-called friends are trying to hustle him out of his money.

Fred gets a new next door neighbor and is shocked to learn that he is Puerto Rican and planning on opening a junk business of his own. Fred gets upset about the competition and contrives a plan to get the city to condemn his property especially since, Julio has a pet goat.

Lamont pays $50 for an antique gun and brings it home to show Fred. Fred begins re-enacting war stories and accidentally pulls the trigger not knowing it's loaded. The blast shoots through the next door neighbor's window, who suddenly drops from site just after having a heated argument with Fred. Fred jumps to the conclusion that he killed him.

Lamont is fed up working with Fred and quits the partnership. He soon finds a job down the street at a rival junk collector's business. Meanwhile, Fred looks for another partner and finds one in Norman, whose first contribution is a stuffed bear.

After Fred gets a minor injury from a car accident, Lamont and Fred seek to find a maid to help out around the house. After looking, they get what the agency has at the bottom of the barrel. However, the erratic white woman does nothing but add to Fred's pain.

Lamont breaks the news to Fred that he plans to join the crew of a tramp steamer and sail around the world. A shocked Fred gets another shock, Lamont plans on putting him in a retirement home.

Lamont pays twenty bucks for a commode that he thinks is a valuable antique.

Lamont and Rollo answer an ad that promises them stardom through low-budget movies. Fred gets a hold of the brochure and decides to try out too. When they get down there they quickly discover the low budget movies are X-rated followed by a police raid and Fred, Lamont and Rollo are hauled off to jail.

Fred comes home to find Lamont and his drama teacher Marilyn acting out a choking scene from the play "Othello." Fred then jumps to the logical conclusion that Lamont is trying to kill a white woman. Later, Fred becomes the victim of assumption when Marilyn invites Fred and Lamont to her place and her parents think Fred and Lamont are trying to rob the place.

Rollo and Lamont are managing a girl singing group from Philadelphia, The Three Degrees. They stay at the Sanford house while preparing for a talent show at the Safari Club. Fred is against the notion at first until he meets the three sexy girls. At the Safari Club, Lamont is surprised when Fred and his friends arrive and they start heckling the other acts.

Fred and Lamont's TV set is on it's last legs and Lamont considers buying a brand new one, however Fred buys a used color TV set for cheap. Things get out of hand when Fred's friend Grady stops by and recognizes Fred's new set as his set that was stolen. Fred quickly wants an out of the situation and sells it to his neighbor Julio for $50.

Lamont and Rollo are out on the town one evening and decide to stop in at a new bar for a couple drinks. However, they soon realize they have stumbled into a gay bar. Unknown to them, Bubba just happened to see them go inside. Bubba promptly jumps to conclusions and then proceeds to tell Fred that Lamont is gay. Not believing Bubba's story, Fred decides to get to the bottom of the situation.

Fred gets news that an uncle has died and has left him $1500 in his will. The only thing is, in order to get the money, Fred has to fly to St. Louis to claim it. However, first he must overcome a fear of flying and Lamont is up in arms trying to help him.

Fred and his buddies are down over the death of a close friend and Aunt Esther's over-reacting does nothing to help. Thus, Fred decides to throw a cheer-up party and intends to have it in the Sanford home, complete with booze, music and friends of Fast Fanny, a topless waitress.

While cleaning out the yard, Fred discovers some of Julio's junk on his property and demands that it be removed promptly. Soon, a feud erupts primarily due to Fred, who has a surveyor come over to determine where exactly the property line is. However, what is determined is not exactly what Fred had in mind and sets out to mislead Julio.