ēCo Savings Race: McCord family update

The eCO Savings Race, Fourth Edition

(WIAT) — Staying focused and following your plan–it can help you reach your goals and sometimes, even soar past them.

That’s what we learn this week from the McCord family.

Pierce and Brooke McCord are pleased with their progress so far in the Savings Race.

“I think we’re doing really well. You know…we’ve stayed really focused,” Pierce said. “We’ve kind of stuck to our game plan and continued making the budget.”

Sticking to their game plan has really paid off.

We’ve paid off $15,900 and our original goal going into this…was to try to pay off $15,000,” Brooke said.

They say that following the debt snowball principle has made all the difference

“With the debt snowball you take your lowest debt to your highest debt and you’ll try and pay off the lowest debt first. And once you pay that off, you put that monthly amount towards the next debt and it just keeps snowballing,” Brooke explained.

“We’ve already paid off our first two items of the debt snowball. We started with the uh…emergency room bill from Brooke when we had McKenzie. We rolled over that hospital bill to then pay off our Amex and now we’ve rolled over both of those minimum payments to start paying down on our second mortgage,” Pierce said.

Along with paying down debt, the couple is also growing their savings

“Our original goal was $3000 and we are now at $5,000,” Brooke said.

” So we’ve already met our savings goal half way through the competition. So we actually set a higher goal up to $10,000…which is kind of a lofty aspiration but still…

we set it up there to see if we can attain it by mid April.,” Pierce explained.

Staying focused and sticking to a budget is a plan that’s clearly working for the McCord family.

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