(CSB42 Community) — The Wright family has made it their mission to offer encouragement to anyone dealing with debt.
“I believe in my heart, that if you have debt, you can get rid of it. I don’t care how much it is,” said Kenyonia.
For the Wrights, the most important way to tackle debt is a nine letter verb: budgeting.
“The budgeting part is really, really the best thing for us,” Kenyonia said. “It structures you, keeps you on track and you can track everything. You know where everything’s going,” Randle said.
“As far as the budgeting goes, if you’re working it every dollar, it breaks it all down to the last penny, and you have to allocate the money where it goes,” said Kenyonia.
Without the discipline of a budget, the Wrights felt like they did not own a road map for success.
“Usually we just spend and spend….and move money here and move money there. Now we actually know,” said Randle.
“When you don’t have the money in your budget to eat out, but you still eat out, you’re spending from somewhere else,” Kenyonia said.
$2 and $3 at a time, the Wrights are steadily running the race! Soon they will be crossing the eCO Savings Race finish line.
This week’s eCO Takeaway Tip can help you establish a plan for debt, just like the Wright family.
A budget is critical when working to reach your financial goals. To get started, look at your last few month’s statements to determine your monthly income and average monthly expenses. Then, start writing down every line item for the month. Your budget is not complete until every dollar has a name.
Follow all of the teams at ecosavingsrace.org.