How to go from Spending to Saving: ConneXfactor 2016

X-factor logo (3)

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 Ruth C.

Ruth C.: How to go from Spending to Saving

Coach: Lamar Weaver, Hamden Assistant Branch Manager

This ConneXfactor challenge has not only helped increase Ruth’s new homeowner and emergency savings accounts, it has completely transformed her mindset from spending to saving. Throughout this competition, Ruth has progressively developed plans to become financially savvy and to instill a more savings-like mentality.

Since our last meeting, Ruth has continued to engage herself and her friends in cost-friendly activities by taking advantage of all the free summer activities in the community. For leisure activity, Ruth recently participated in “Pie On9”, which is a fundraiser for the city of New Haven’s 9th Square District. Pie On9 was such a great experience that Ruth will be contributing a pie of her own to that event next year and earning free admission for her donation. Another exciting event Ruth has been participating in frequently is the local farmers markets, where she is able to get fresh, locally grown produce at a discounted price. This is a win in two ways: Ruth is saving money AND eating healthy!


Since the summer is slowly coming to an end, Ruth will be taking a cost-friendly vacation soon, of which she has budgeted for. To help save money, Ruth will be visiting and staying with family. She has also planned for meals in advance by creating a grocery budget and initiating family cookouts for the weekend she is there. It’s definitely possible to have an enjoyable getaway that doesn’t drain your cash.  It just takes a little forethought!

Ruth has also really been pushing the envelope to become debt-free. She has increased her hours at her part-time job which allows her to contribute more towards her credit card balances. She is doing all this while still contributing weekly to her emergency savings and new homeowner savings accounts.

I’m very impressed with Ruth’s newfound spending behaviors. She has completely adopted a new financially-responsible mindset, which was ultimately the goal Ruth wanted to achieve. It seems now that she is changing much more than her spending habits. For Ruth, ConneXfactor has become a lifestyle!

Do you need help changing your financial habits? 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!


Improving the lives of our members... one member at a time.

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Posted in ConneXfactor 2016

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