BIRMINGHAM, Ala. (WIAT) — Quinton and Michelle Jackson have made huge steps towards achieving financial peace! The couple’s goals were to eliminate all debt, excluding their home and student loans, establish a retirement account and a college fund for their son, and establish a significant savings account.
“And… we have done that,” Michelle said. “Win or lose, we are still winners,” Quinton said.
The couple says that their financial situation before the race was almost paycheck to paycheck.
“Before the contest, Quinton and I did not have the best financial knowledge when it came to making financial decisions,” said Michelle.
“Now, we can say that we have the money that we need,” Quinton agreed.
The couple has made a lot of sacrifices together. Quinton even said “no” to a boys weekend getaway trip.
“Now, I am now knowledgeable enough to say ‘no’ in order to save,” Quintin said.
That knowledge has led to a shift in the way the couple views their finances and budget. It’s also allowed them to establish an emergency fund, so they are financially prepared for unexpected events. And by sticking to the debt snowball method, the Jacksons were able to pay off all of their consumer debt.
“Every sacrifice, every change, every budget meeting that Quinton and I had, every disagreement that we had with the budget, all of it was worth it. Very, very worth it,” said Michelle.
View all the team’s progress at ecosavingsrace.org. The winner of the 5th Edition of the eCO Savings Race and $10,000 Grand Prize will be announced LIVE on CBS42 on May 8th