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 second update on Marilisa A.
Marilisa A.: Finding creative ways to save
Coach: Michelle Panzo, Orange Assistant Branch Manager
We are now several weeks into the Challenge and the reality of curbing her spending and budgeting is settling in for Marilisa. One creative tactic she is using to stay within budget is placing sticky notes all around her mirror in her bedroom – a constant reminder for what she has to save every week and where she should be by now.
She is also thinking more before she spends. Two ways she has cut down on daily expenses are by bringing meals from home for lunch and making one coffee at home. Before, she would purchase all coffee during her shift, but she is now down to just one purchase while working. Another example of thinking before she spends is shopping online for the least expensive pair of dress shoes she could find; a pair that would still work for her uniform (she is a local town police officer). By putting in a little effort and not making an impulse purchase, she was able to save over $50 on shoes!
Mother’s Day was another time where overspending was not uncommon for Marilisa, but this year she decided to go about it differently. She and her sister split the cost of a gift that would normally have been a splurge for Marilisa alone. This was a great way to give her Mom the gift she wanted and also stay within her budget!
By tracking her spending very closely, making small incremental changes in her daily habits and being creative, Marilisa is already making big strides in the competition.
Do you need help finding creative ways to stick to a budget? 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!