Jennifer and Bruce Pivnick of Richardson, Texas, have four young children between the ages of 3 and 13.
They are the first of two families taking part in the "Good Morning America Weekend" and USA Today Frugal Family Challenge.
To meet their competitors, the Walker Family, click here.
Beginning July 9, they followed a financial expert's advice to re-structure their debt and trim their spending. What needed to be cut? How painful? Could they do it? How much could they save in the end?
We sent financial advisor, John A. Kvale, to meet with them and pinpoint their problems. This is what Kvale came up with:
Need to pay closer attention to filing their taxes.
They need to cut down on miscellaneous spending, such as coffee and lunch on the road.
Their phone bill for the family cell phone is through the roof at over $500.
Stay tuned. Read the Pivnick's video blog, as they share their personal struggles with this once-in-a-lifetime challenge.
Do you have advice, or a comment for the Pivnicks? Please share your comments with us as well!
And if you're interested in being a part of our Frugal Family Challenge, click here.