On October 2, CNN is rolling out a nine‑week Savings Challenge aimed at helping everyday Americans improve their financial habits. Each Friday, subscribers will receive a free newsletter that outlines a new, actionable task for the coming week, designed to strengthen savings and spending discipline.
How the challenge works
The program combines simple fact‑finding with a bit of a treasure hunt, encouraging participants to uncover hidden savings in their own budgets. In addition, a select group of participants will receive one‑on‑one coaching from certified financial planner Douglas Boneparth, who will share progress updates and setbacks in the newsletters.
Real‑world participants
Among the featured participants are Mariza and Geffrey Gordon, a married couple who recently moved from Houston back to their hometown of Milwaukee, Wisconsin. With a combined income of $145,000, they are striving to build an emergency fund and break the paycheck‑to‑paycheck cycle. Mariza recently faced a layoff, receiving only two months’ severance, while the couple manages $200,000 in student loans and $1,400 in minimum credit‑card payments each month.
Jeff Kizer, a 57‑year‑old middle‑school algebra teacher in California who also coaches tennis, is another participant. Earning $113,000, he aims to increase retirement savings after a costly divorce in 2019. He contributes roughly 25 % of his income to retirement accounts, benefiting from a 5 % employer match at his school and a 3 % match from the tennis facility. Kizer is also repaying $50,000 in federal student loans and a $33,000 personal loan.
Abbey Graf, a 28‑year‑old policy analyst for the Wisconsin state government, represents a younger, single participant. Earning $74,000 as a contractor, she lacks employer‑based retirement options, so she directs 25 % of her after‑tax earnings into a Roth IRA, a brokerage account, and a health‑savings account, totaling over $1,200 in automated monthly savings. Graf has also built an emergency fund that could cover more than a year of living expenses.
Expert guidance
Subscribers can submit their own savings questions to Douglas Boneparth, who will respond in an “Ask the Expert” segment. The challenge’s structure is intended to help participants identify unnecessary expenses, prioritize debt repayment, and establish reliable emergency reserves.
Why it matters
With inflation and rising living costs putting pressure on household budgets, many Americans are seeking practical tools to improve financial stability. The CNN Savings Challenge offers a free, structured approach that aligns with the broader goal of fostering personal responsibility and economic resilience.
Original reporting: El Paso News (HLL/CB) — read the source article.
