Charley and Thelma are millionaires, each trying to elude suitors who are trying to marry them for their money. Charlie gets word that a rich uncle has died, leaving him millions. Attorneys advise him to repair to a resort and avoid gold diggers. Once there, word spreads among the single women, and several try to ensnare him. At first he's gullible, then he cottons on, so when Thelma, a wealthy young woman, mistakes him for a fortune hunter, he dismisses her as well. A manager's error puts Charlie and Thelma in the same suite, and both think the other is prospecting. A dressing gown, radio, bare feet, pistol, keyhole, fountain pen, bedcovers, and a suspicious hotel detective join the mix-up. But wait, was the inheritance a mistake?

The boys boycott the girls when they insist that the boys wear tuxedos to a big dance.

On the train trip home from school, all the kids except Dave talk about taking a vacation trip to Lake Arrowhead; Dave wants a summer job. Alabam suggests that his uncle might hire Dave at a department store. The uncle likes Dave's attitude and tells Alabam and Mickey they should work there too. Reluctantly, Alabam takes a sales assignment in ladies' accessories, where he's charming but clueless. Mickey, lazy and on the take, sees the store detective helping himself to a chocolate bar, so he wants that job. Dave learns the hard way that the customer is always right, Mickey puts the cuffs on the wrong customer, and Lake Arrowhead looks very far away.

The gang is out for a drive on a Sunday afternoon. When it starts to rain, they take shelter in an abandoned building. Unbeknownst to them, it is actually a gangster's hideout.