Jackson family takes on Spending Freeze Challenge - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Jackson family takes on Spending Freeze Challenge

Posted: Updated:
At first, Billy and Lori Lambert appear to have it all together, but with every addiction there are warning signs. At first, Billy and Lori Lambert appear to have it all together, but with every addiction there are warning signs.
The Lambert's have a name for their debit card, Deborah or Debbie. The Lambert's have a name for their debit card, Deborah or Debbie.
To say their daughters Megan and McKenna Lambert like to shop and spend may be an understatement. To say their daughters Megan and McKenna Lambert like to shop and spend may be an understatement.
  • Heartland NewsMore>>

  • Jury deliberating in ex-priest sex abuse case

    Jury deliberating in ex-priest sex abuse case

    Wednesday, April 16 2014 6:07 PM EDT2014-04-16 22:07:30 GMT
    A jury has gone into deliberations in the trial of a former Catholic priest accused of sexually abusing two teenage boys in Louisville in the 1970s.
    A jury has gone into deliberations in the trial of a former Catholic priest accused of sexually abusing two teenage boys in Louisville in the 1970s.
  • ComEd seeks rate hike to help pay for Smart Grid

    ComEd seeks rate hike to help pay for Smart Grid

    Wednesday, April 16 2014 6:03 PM EDT2014-04-16 22:03:39 GMT
    Commonwealth Edison wants another rate increase to help offset the costs of modernizing Illinois' electric grid.
    Commonwealth Edison wants another rate increase to help offset the costs of modernizing Illinois' electric grid.
  • Apps help teach kids money management

    Apps help teach kids money management

    Wednesday, April 16 2014 6:00 PM EDT2014-04-16 22:00:56 GMT
    Is it ever too early to talk to your kids about balancing the budget? There's now a series if free apps for iPhone, iPad, and some Android devices that do just that.
    Is it ever too early to talk to your kids about balancing the budget? There's now a series if free apps for iPhone, iPad, and some Android devices that do just that.
JACKSON, MO (KFVS) -

One Heartland family decided to sign on for our unique experiment to find out what happens when you pull the plug on extra spending, and vow to live within a tight budget. Will they save or will they cave?

At first, Billy and Lori Lambert appear to have it all together, but with every addiction there are warning signs.

"She mentioned both girls have a debit card," Billy Lambert said, "and they have their card on a first-name basis. They call it Debbie."

To say their daughters Megan and McKenna Lambert like to shop and spend may be an understatement. Lori Lambert explains years of hard work provided them with a blessed life. They appreciate all they have, but admit they know a budget intervention is in order.

"You throw things on the card and you're not thinking about what you're spending," she said. "Then you get the grand total and you're like, wow."

The family of four agreed to check into retail rehab for a month, nothing beyond what they need, nothing beyond the budget.

Lori crunched the numbers and came up with a plan. It's time to kiss Deb goodbye.

The strategy: take out a certain amount of cash and when it's gone, it's gone.

Billy said their budget is difficult to plan and tedious. He's the bread-winner and relies on commission, so they're always looking ahead.

"We have a lot of good intentions," he said, "but we never follow through with it completely."

With this challenge, they hope to put their eyes further towards the future, see if they can give their nest egg a growth spurt and learn to appreciate those little things they swipe that card for a little more.

"Weddings and retirement in the future, we've got to find a way to bring money into the savings account, Billy said. "We're not doing that very well."

As you may imagine, Billy said the hardest part for him will be keeping the ladies of the house honest.

We'll be checking in with the Lamberts again at the end of the month to see what they learned and explain what your family can take away from cracking down on expendable cash flow.

Copyright 2013 KFVS. All rights reserved.

Powered by WorldNow

310 Broadway
Cape Girardeau, MO 63701

FCC Public File
publicfile@kfvs12.com
573-335-1212
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KFVS12. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.