For six 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 100 applications for the fourth annual ConneXfactor competition! Below is our update on Kayla P.
Kayla P.: The Budget Slasher!
Coach: Sherry Costa, Orange Assistant Branch Manager
Kayla has made an impressive start towards meeting her goals in the ConneXfactor competition. Her goals for the next six months are as follows:
1. Pay off credit card of $1,100
2. Save $300.00 monthly; total savings of $1,800
3. Pay down student loans by an extra $250 each month, for a total of $1,500
Kayla has already started devising ways to cut down on expenses. Kayla loves the beach, so she is planning on making picnic lunches when at the beach with family and friends. This will help her cut down on eating out and save money. Kayla loves to read science fiction novels and will be utilizing her local library instead of purchasing her own books. She’s also slashing her beauty budget by doing her own nails and cutting her own hair. These simple actions will save her a sizeable chunk of money each month.
Together we have worked on a strategy that will not only help to achieve her goals, but hopefully to exceed them. Kayla has a great attitude, and is really serious about preparing for the future. Special purpose accounts have been put in place and bi-weekly deposit amounts have been firmly committed to. So now it is time for the deposits to start and the savings to begin!
Do you need help with a personalized 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!