While listening to a recording of Penny Serenade, Julie Gardiner Adams begins reflecting on her past. She recalls her impulsive marriage to newspaper reporter Roger Adams, which begins on a deliriously happy note but turns out to be fraught with tragedy. Other songs remind her of their courtship, their marriage, their desire for a child, and the joys and sorrows they have shared. A flood of memories come back to her as she ponders on their present problems and how they arose.

A vacuum repairman moonlights as a street musician and hopes for his big break. One day a Czech immigrant, who earns a living selling flowers, approaches him with the news that she is also an aspiring singer-songwriter. The pair decide to collaborate, and the songs that they compose reflect the story of their blossoming love.

Jimmy, the owner of a failed music shop, goes to work with his uncle, the owner of a food factory. Before he gets there, he befriends an Irish family who happens to be his uncle's worst enemy because of their love for music and in-house band who constantly practices. Soon, Jimmy finds himself trying to help the band by getting them gigs and trying to reconcile the family with his uncle.