For 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 third annual ConneXfactor competition! Below is our first update on Jennifer J.
Jennifer J.: Attacking Debt
Coach: Mike Federico, North Haven Assistant Branch Manager
Jennifer and I have created three goals for the ConneXfactor competition; to increase her credit score, pay down her student loans and save for a 2017 vacation. To get there, we’ve created a firm budget. Jennifer understands that there is no time like the present to start on the right path toward financial freedom.
We developed a plan that will allocate funds from her paycheck to make extra payments to her student loans. Another savings account is for her vacation in 2017. These changes, as well as making extra payments on her credit card debt will help to increase her credit score – another goal of Jennifer’s.
Even though this seems like a lot to accomplish in a short amount of time, with determination, extra payments and tracking expenses, she could be the ConneXfactor winner!! Stay tuned.
Do you need help setting up special accounts to help you reach specific goals? 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!