49 News helps put hundreds back in Topeka woman's pocketbook
10 p.m. Sunday, July 6, 2008
Kelly Stephens is living proof that tracking your expenses -- combined with a little determination -- can really help you save hundreds.
49 News first introduced you to Stephens six weeks ago. We brought in our money expert to examine Kelly's budget and help her find ways to save some green for her savings account and kids' education.
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49 News Reporter Marshanna Hester has been tracking Kelly's progress for weeks.
It's been tough, but in the six weeks since we put Kelly on a budget she's managed to save more than $250.
After weeks using a budget worksheet, she found out she's wasting money in unexpected places.
"It's a little frustrating. It's a little upsetting, but it's a good thing," she said.
3 Ways You Can Save Money
1. Know where your money is going: Force yourself to write down every expense.
2. Think about what you're spending: Go to the store with a list and don't impulse buy.
3. Think ahead and plan long term: Plan meals for dinner before you go to the store and buy back-to-school clothes year round.
It's frustrating and upsetting because in the six weeks since we first put Kelly on track to save money, she's realized how much money she wastes daily on 50-cent sodas and multiple trips to the grocery store.
"Couple bucks here, five bucks here, two bucks here," she said. "That could add up to 20 or 30 dollars a day."
Frequent trips to the ball field to see her kid play and feeding concession stands her money doesn't help either.
Kelly says she doesn't have any extra green in her pocket, but in the last six weeks has managed to save $100 for her kids' education.
Changes to her family's cell phone plan have already saved her hundreds.
"It was $375 about average a month," she said. "That bill is going to be $173 less a month which is huge."
Handy Worksheets
HCCI has some very helpful worksheets to help you track your spending and keep on budget. Select and download from the list below:
Our financial expert Jackie Blaesi-Freed says budgeting is a time consuming process that's worth the effort.
"People think budgeting is like a week process. You write it down, and you're done. That's so not true," she said. "Knowing where you're spending money is the first part, saving money is the second part."
Blasei-Freed says Kelly is doing that right.
But now the challenge is to find a way to eliminate the little things that are eating up her budget.
"It's not easy to remember to write down things, and it's hard and time-consuming, but like you said, in the end it will show you where you can save some money," Blasei-Freed said.
"Having everything written down," Stephens said. "It's like holding yourself accountable for every penny you spend."
That's where the Fritter Finder comes in. The worksheet tracks all the places where you fritter your money away. If you spend a dollar on soda and another 75 cents on a snack every weekday, that's $35 a month. That's just one place you could be saving money.
49 News has challenged Kelly to use the Fritter Finder and hold herself accountable for every penny, penny's she wants to put toward savings and education.
We'll keep watching Kelly's progress over the months and see if she's sticking to the budget challenge.
Food sharing programs
Let's Help offers a food sharing program that could save you up to 50 percent on groceries.
Or you can check out the Web site Angelfoodministries.com for a similar program.
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