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 update on Jennifer J.
Jennifer J.: Two Words to Live By
Coach: Michael Federico, North Haven Assistant Branch Manager
In our most recent meeting, Jennifer and I came up with two words that best describes her commitment to the competition: perseverance and commitment. Someone who is committed has a belief that they will work hard for whatever it is they are looking to achieve. Perseverance is defined as steadfastness in doing something despite difficulty or delay in achieving success. Jennifer has been focused and fully committed to the competition from the start.
It is Jennifer’s perseverance that is getting her through the competition. Each week we go over her composition notebook to review her payment history and what is coming up in the future for deposits and payments. There was a minor setback three weeks ago when Jennifer needed to have a new muffler installed in her car. She had used her credit card to pay for the bill from the auto body shop, as her savings cushion is still being built. Even though the balance on her credit card has increased, we adjusted our cash flow sheet to reflect our new plan of action to keep her on track to meet her goals. The incident with her car made Jennifer truly see the value in having an emergency savings account to fall back on when the unforeseen happens.
As we move forward in the competition, Jennifer and I continue to look for ways to save more. Throughout the month of July Jennifer will be focused on paying down the remaining balance on her credit card and then, once her card is paid off, using the available funds to pay down her student loan balance.
Jennifer understands that “life” happens, but with a plan it is easier to tackle challenges head on. You can always adjust your plan as needed along the way, but having a plan – and being committed to it –is key. Jennifer remains committed to the ultimate goal of financial improvement!
Ready to improve your financial life? Join our ConneXfactor contestants and let our Financial Advocates work with you to create a financial plan to help you stay on track! Stop by any branch or get started online today!