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 Paul S.
Paul S.: More Money, Less Problems
Coach: Gezim Stroka, Meriden Branch Manager
Paul and his wife had experienced a major unexpected expense with car repairs in May, but thankfully – no financial setbacks occurred in June. This has allowed them to stay on target with meeting their financial goals.
There is a new change in their financial situation though, one that affects them in a good way. Paul has picked up a part-time job, in addition to his full time job, delivering local newspapers. This offers the opportunity to make some extra cash to pay off his credit card debt sooner and save more money on the side.
He and his wife have been steadily adding to their kids’ savings account, which is building up quickly. Their emergency savings is also accumulating a sizeable balance, and they are excited to see how fast your funds can grow when you are diligent about putting money away!
They continue to save even more money by sticking to their new habit of buying groceries in bulk instead of multiple trips to the grocery store. They are seeing the benefits of being a smart shopper, and consciously deciding how and when to spend their money. To paraphrase a saying: “It is better to tell your money where to go, instead of it telling YOU what to do.”
Paul and his wife have also been exploring local attractions and parks instead of traveling long distances, as they often did in the past. It is often surprising just how many FREE events are happening in your own city that you may not even be aware of! All it takes is a little research.
Saving money is the main motto for Paul and his family right now. They are walking their talk, and seeing big results! Let’s see how they do at the end of July. – Gezim Stroka, Meriden Branch Manager
How are you saving money this summer? Free local attractions, clipping coupons, kicking bad habits? Let us know in the comments section!
Ready to kick your savings goals into high gear? 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!