eCo Savings Race Update: Team Rich and Team Davis

BIRMINGHAM, Ala. (WIAT) — It’s a race to save the green. Four teams are cutting back on finances to score more money in the bank.

This week WIAT 42 checked in on Team Rich and Team Davis as they made their final list and checked off their goals, learning to give, save and spend the right way.

“We’ve done that more since we started the savings race,” said Sherry Rich. “Not just trying to better ourselves with our finances, but we’ve been able to help other people every single month in one way or another.

The Rich family said the beginning was difficult, but now they are thriving on a structured budget.

“I think we’ve gained momentum,” said Shannon Rich. “It’s kind of like a snowball. It’s growing and gets bigger.”

Meanwhile, Team Davis said that financial planning is life changing.

“Kind of like people who eat healthier, it’s a lifestyle change,” said Kathryn Davis. “This is a lifestyle change for me because before I was such an emotional shopper and spend, spend, spend. Just really irresponsible with my money. Now I’m very cautions with my spending.”

Now, Kathryn is tracking her spending and knocking off the debt. She said she keeps several documents on her computer to track her debt, and it’s been fun to see the debt shrink from the top of the page until it’s moved to the bottom in the “paid” category.

Both teams said that this long term race will continue as they tackle the challenge of managing their money.

You can learn from each team in the eCO Savings Race. Track their progress and follow their blogs for more information.

Copyright 2015 WIAT 42 News

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