From ‘Eight’ to Series 7

So you think only ordinary people have financial troubles?

In an upcoming VH1 docudrama, former television star Willie Aames explains how he went from teenage success to homelessness — and how financial literacy has helped him recover and maybe even find a job in the financial services industry.

The show, “Broke and Famous,” will air Thursday at 10 p.m. ET.

It depicts how badly Mr. Aames, best known for his roles in “Eight is Enough” and “Charles in Charge,” suffered as a result of not knowing how to handle money. We also see how Sarano Kelley, a financial and life coach, helped Mr. Aames through tough love and mentoring.

“It starts out as sort of a cage match, but in the end, everything seems to work out pretty well,” said Mr. Kelley, one of five founding members of the International Association of Financial, Sport and Celebrity Advisers.

The group was created a year ago to promote financial literacy among athletes, celebrities and members of government by connecting them with advisers. The organization plans to launch a nationwide educational campaign consisting of Town Hall-style meetings to be hosted by advisers.

Mr. Kelley paired Mr. Aames with Tom Butch, a senior vice president with Waddell & Reed Financial Inc., as well as another financial adviser, who acted as the actor’s mentors.

According to Mr. Kelley, by the end of the show Mr. Aames has gone from living in the streets and not knowing how to use a calculator to having passed the Series 7 exam and preparing to take the Series 63 test.

If “Broke and Famous” proves popular, it may be followed by additional episodes, said Marie Swift, a spokeswoman for the association.