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George and Mary Elizabeth Cugat are about to celebrate their second wedding anniversary and dream of having a child. Although they live comfortably on George's earnings as a bank official, Liz's scatterbrained handling of their finances constantly puts them in jeopardy. Liz becomes jealous when George's former girl friend, Myra Ponsonby, comes for a visit with his party-loving friends Bill Stone, Cory Cartwright and Chuck, an artist, after which George spends the entire evening dancing at a nightclub with Myra. Chuck takes Liz home early and, hoping to make George jealous, Liz prominently displays Chuck's hat, which he accidentally left at the house. George is disinterested, however, and later, Liz, believing a child is a solution to her problems, unsuccessfully tries to adopt a baby on the spot. In order to prevent George from meeting again with Myra, Liz then pretends that she and George have been invited to the country home of his boss, Duncan Atterbury. The Atterburys are entertaining a potential investor, Bunker, and are surprised by the sudden appearance of their employee and his wife. They nonetheless invite the Cugats to stay and Liz, hoping that George will be promoted to vice-president, impersonates a Southern belle to charm Bunker. Bunker sees through Liz's act but is delighted by her charm. The weekend is ruined, however, when Liz crashes the Atterbury's expensive new luxury car. On Monday morning, George expects to be fired, but Bunker saves his job and insists that he show him the city. That evening, George gets drunk with his friends and completely disrupts the Atterburys masked ball, however, his identity is hidden by his costume, a suit of armor. The next day, as workmen come to repossess the Cugats' piano because they are late on their payments, Bunker agrees to invest in Atterbury's bank as long as George manages his account. Atterbury promotes George to vice-president, but Liz is still not satisfied because George has an appointment to see Myra. Liz is suspicious when he returns with a fur coat that she had seen on Myra, and he explains that Myra only helped him select it for her. Liz calls Myra and learns that she has become engaged to Bunker. Liz then confides her own good news that she is pregnant.