Thackeray starts this section with an essay on how people live on nothing. He then talks about Rawdon and Rebecca, who are settled in Mayfair, entertain all the time, yet have no money, except what Rawdon makes by gambling.
The story reverts to the time in Paris when Rawdon has gambled with other soldiers. Colonel O'Dowd has warned Spooney about gambling with Rawdon, at which Becky and Peggy O'Dowd have quarreled. Only Rebecca's intervention with General Tufto has prevented Rawdon's being returned to England.
Rebecca makes Crawley sell out of the Guards so they can return to England to pursue his fortune. Becky spreads the news that Rawdon will inherit from his dying aunt; she orders mourning for herself and little Rawdon. She then skips out on her hotel bill, goes to England, and arranges with her husband's creditors to settle for a percentage of what is owed. Becky then goes back to the Continent, rejoins her son and husband; and the three return to London.
They hire a house from Mr. Raggles, formerly Miss Crawley's butler. This business arrangement is Raggles' downfall, for he is not able to collect the rent and ends up in Fleet Prison because he can't pay his debts. Here Thackeray moralizes on how the gentry rob the servants. Rawdon and Rebecca patronize all Miss Crawley's former tradesmen and pay nobody.
When Pitt inherits Miss Crawley's fortune, Becky insists Rawdon congratulate him and ingratiate himself into his brother's good graces. Rebecca determines that Lady Jane shall sponsor her in London society.
