For the next five months, Connex Credit Union will be working closely with five participants to see who can become the most fiscally fit to win a $3,000 grand prize. Each participant has been paired with a Connex Financial Advocate who will offer real-world, practical advice on how to reduce debt, build savings, and many other helpful financial tips and advice. Connex received over 140 applications for the second annual ConneXfactor competition! Below is the second update on our contestant Nick M.
Nick M.: Financial Challenges Bring Change
Coach: Michelle Panzo, North Haven Assistant Branch Manager
Nick has had an eventful June, moving into a new apartment and buying what he needed. Add to that, he was especially busy at the restaurant with Father’s Day, graduation, confirmation and communion parties… you would think he wouldn’t have any time to spend money. Unfortunately, Nick had an unexpected car expense that cost him nearly a month’s rent. Lucky for Nick, it’s one of the restaurant’s busiest seasons and he was able to recoup the expense, but lost the opportunity to make additional debt payments.
Although June was a challenging month for Nick, he is determined to succeed in July! Nick has quickly realized that what he was spending in one week of eating out he could use in a month of cooking in. He has made adjustments like making breakfast and dinner at home instead of purchasing fast food and coffee. He has also sought the assistance of his mother, the experienced bargain shopper, by reading sales flyers and cutting coupons. I’m eagerly awaiting the results of their shopping spree and how much they’ve saved!! – Michelle Panzo, North Haven Assistant Branch Manager
Have you ever experienced a major financial setback that ultimately caused positive change in your life? Tell us about it in the comments!