Meet the Walkers

The Walker Family

Mitzi and Jimmie Walker of New Haven, Mich., have three children — all under the age of 5 — and are expecting another baby in December.

They are the first of two families taking part in the "Good Morning America" and USA Today Frugal Family Challenge.

To meet their competitors, the Pivnick Family, click here.

Since July 9, the Walkers have been following a financial expert's advice to curb their spending and rejigger their family budget. What needs to be changed? How drastically? Can they do it? How much will they save in the end?

Tim Wyman, a financial planner brought in to give guidance, helped the family make a workable budget and pinpointed the following "problem" areas in the Walkers' spending habits:

At least $700 in dining out costs a month.

Hitting the mall every weekend and spending on knick-knacks and items for the new baby.

Phone bills for two cell phones and a landline.

Can they rein in these expenses? Track their progress through their video blog.

Week 1: Mitzi has cravings.

Week 2: Jimmie gives up his iPhone. Click here to watch.

Week 2: Mitzi can't resist McDonalds and pizza. Click here to watch.

Week 3: Mitzi wants to shop. Click here to watch.

Do you have advice, or a comment for the Walkers? Please share your comments with us as well!

And if you're interested in being a part of our Frugal Family Challenge, click here.