BIRMINGHAM, Ala. (CBS42 Community) — This week we are highlighting Carol and Jamie Creekmore’s eCO Savings Race Journey. Their goals are to create a budget and track their spending, snowball debt to paying off their credit cards, eliminate impulse purchases, and teaching their two children strategies to make better financial decisions.
Jamie Creekmore says that he has let his wife handle the finances throughout their marriage. Now, he’s ready to make it a joint effort.
“I think for too long I’ve let her take care of things by herself and now I’m ready to join her,” said Jamie.
The couple plans to snowball their debt by working together.
“We want to totally knock out one of our credit cards, and then we’re going to take the money that was on that credit card and put it towards another one,” said Carol.
Jamie is even using some of the principles he is learning from his eco coaches and bringing them into his classroom.
“Right now, I’m teaching my math students…the difference between credit card debt and creating your own wealth. But I’m not doing it in my life. And I think the discipline area is what I really want to work on. That’s why some of our goals had to do with staying on budget and eliminating impulse buys,” Jamie said.
Carol admits that impulse buying is her weak spot.
“I’m really good at rationalizing so I’m probably not even sure how big of a problem it is for me,” said Carol.
ECO TAKEAWAY TIP
Do you want to create and stick to a budget like Team Creekmore? If so, make sure you have accountability. If you are married, you and your spouse should have a monthly budget meeting to discuss your budget for the month.
If you are single, find someone to help review your budget. Once your budget is in place, work with your spouse or accountability partner to track it throughout the month to make sure you aren’t overspending.
Follow all the teams and their progress at ecosavingsrace.org