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 third update on our contestant Stephanie S.
Stephanie S.: Breaking Bad Financial Habits is Possible
Coach: Jeff Lucisano, Orange Assistant Branch Manager
Today, it’s not uncommon to find individuals who want to save for retirement or stop out-of-control spending – but they don’t know how. A person’s best intention is easily overtaken by impulse spending and poor savings habits. Bad habits can be extremely difficult to break, but certainly not impossible.
In Stephanie’s case, we are at the halfway point in the competition, and she has done an amazing job of changing her mindset when it comes to spending. She understands the true meaning of a dollar, and is learning to think before she spends. “Do I need this item or do I want this item” now comes into play. She has been able to refrain from unnecessary spending by saying to herself, “if the cash is not available, I am not going to spend.” This way of thinking has prevented her from using her credit cards. As mentioned in previous posts, Stephanie is trying many different ways to save money; such as coupons, daily specials, and promotional offers.
Recently Stephanie visited her mother and sister and shared some of the techniques and skills she has learned to improve her financial life, so her family can also reap the rewards of a secure financial future. Stephanie is still on track to pay off two (2) credit cards by the end of the month, and save $250 in her special savings account. Along with using the tools we have provided her, Stephanie is going to continue to read about other techniques that will help her to have a strong finish and win ConneXfactor. – Jeff Lucisano, Orange Assistant Branch Manager
What techniques have you used lately to stop spending and instead start saving more? Let us know in the comments!
You can have a strong financial finish too! Join our ConneXfactor contestants and let our Financial Advocates work with you to create a financial plan and a budget to help you achieve your goals. Stop by any branch or get started online today!