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 Marilisa A.
Marilisa A.: Small Changes, Big Results
Coach: Michelle Panzo, Orange Branch Manager
It’s hard to believe we are more than half way through the Challenge! Marilisa is doing very well. She recently went on a family vacation she had planned before the competition and had a great time. One reason it was made even better is because she didn’t have to spend too much money; she stayed within her spending limits realizing that she didn’t need anything else that said New Hampshire on it! You don’t have to be all work and no play when it comes to getting your finances in order; it just takes a little planning to make sure you’ve budgeted for the fun.
Now that her vacation is over, Marilisa is now focused on the remainder of the challenge and reaching her goals. To help her stay on track with accomplishing each milestone we initially set, we have made a few small but important tweaks to her plan. The first change is that Marilisa is now making weekly deposits into an account for her student loan payment instead of using one paycheck to cover it. This makes paying the loan more manageable for her. We are also looking into consolidating her student loans to lower her monthly payment The second update is that Marilisa is making deposits more than once a week to her savings account, when she can. Every little bit adds up.
Sometimes your tactics will change to assist you in reaching your goals in a more timely manner, and this is ok. You should frequently review your plan and make changes as required. Marilisa is still committed to the plan, and these changes will help boost her confidence to complete the challenge a winner!
Do you need help with making adjustments to your current financial plan? 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!