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 Frances B.
Frances B.: Smart Shopping and Meal Planning
Coach: Frank Pomarico, Hamden Branch Manager
Frances remains on track with managing her finances and is maintaining her envelope system very well. In addition, she has become very conscientious about her spending and prices at the grocery store. For example, Frances has been making more of a concerted effort to purchase items that are on sale. Planning meals in advance has also helped, as she is now able to stretch her meals through the week and carry leftovers for work. Careful monitoring of her weekly menu and of the set funds allocated for groceries definitely encourages Frances to resist dining out. It’s all about finding a system that works for you, and sticking to it!
Frances is also on track for paying off her current credit card debt and is looking at debt consolidation options. In addition, she has reached out to a career coach for advice on how to better market herself for a higher-paying position. Frances is serious about reducing her debt quickly and contributing more to her Emergency Savings account at Connex, so investigating options for bringing in more income is a high priority right now.
Keeping her financial goals always at the forefront of her mind helps Frances stay motivated to be in a better financial position at the end of the competition. – Frank Pomarico, Hamden Branch Manager
Time to find a system that helps you save money and reduce debt? 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!