BIRMINGHAM, Ala. (WIAT) – We are now into our 7th week of the 2016-2017 eCO Savings Race journey. The Holifield family tells us that this race is requiring sacrifices. Budgeting, getting rid of debt, and increasing savings and their emergency funds are the biggest motivating goals behind the Holifield’s plan of action. The couple is trying to decide what to cut out of their lifestyle to save extra money.
“Things that we’ve considered to be our ‘normal’ in life are things that you really can do without. Like, for example, cable. You may not need to have the high-end channels or things of that nature,” Rachel said. “Like my XM radio could be one that could be cut out! Simple things like that you don’t think about, you can cut back on,” said Carnell.
While the Holifield family will be making cuts to their everyday lifestyle, they remain in high spirits about achieving their goals.
“It’s attainable. We’ve got nine months to work towards it. I think when you put your mind to it, and you come up with a plan, and you’re willing to do the work, then slowly but surely you get to that point. And I believe we can do it,” said Rachel.
The eCO Takeaway Tip is provided by the Holifield’s coaches:
Be sure you know the difference in a want versus a need. Prioritize spending on things your family actually needs.
Other things that you can consider getting rid of are: subscription services, overpriced gym memberships, and even eating out.
Often times, you can also talk to your cell phone, insurance, and security system providers about ways to reduce your bill.
Follow along with all the team’s progress at ecosavingsrace.org! If you have a savings tip of your own, share it in the comments below.