Ken is a square university professor who likes hanging around with a group of beatniks. At a party he meets Judy who is down and out and can't buy food, let alone pay the rent. Urged on by her boyfriend Mitch, Judy agrees to go out on a date with Ken in the hopes of getting some money out of him. When the professor gives her an expensive bracelet, Mitch tries to hawk it with interesting results. Ken is obviously one step ahead of them and little do they realize what is in store.