BIRMINGHAM, Ala. (WIAT) — It’s a race to save the green. Four teams are cutting back on finances so they can build up their bank accounts. This week, we take a look at how Team Rich is creating specific accounts to organize their budget.
Sherry and Shannon rich are planning ahead. “Hopefully our kids have learned through that, but also not leaving them, if something happens to us, with our debt or bad habits,” said Sherry.
They’re starting by opening a healthcare savings account. The Riches agree that this prevents them from having to dip into an emergency fund or use a credit card to add more debt.
The coach for Team Rich, Kenny Minton, tells us that this is a wise financial move for Shannon and Sherry. “They’re working diligently everyday. They are very aware of where every dollar goes and they are doing a very very good job. We are proud of them,” said Minton.
Sherry says she hopes this decision will have a positive impact on their children. “Hopefully by changing the way we were living and our finances, we put them in better shape,” she said.
You can learn from each team in the eCO Savings Race. Track their progress and follow their blogs for more information.
Copyright 2015 WIAT 42 News