How to Be a Super Saver: ConneXfactor 2017

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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 Nina W.

Nina W.: How to Be a Super Saver

Coach: Tameeka Lockwood, New Haven Branch Manager

This month, Nina has already hit the ground running on ways to create a better financial situation for herself.  Her competition goals are to pay down her credit card debt, establish an emergency savings account and contribute each month to her Save to Win CD account. IMG_1331

Right now, the main focus for Nina is finding ways to save money and she is on a roll! She has been preparing the majority of her meals at home rather than eating out.  It’s amazing how much money you can save when you make a concerted effort to meal prep throughout the week. Nina is also looking to lower her homeowners and car insurance rates, to hopefully decrease that payment and add the balance of the savings to her emergency account.  We are exploring our options by can speak speaking with a representative from CPM Insurance to see if we can find her better coverage for less money.  Another potential money-saving course of action she is looking into is the refinance of her mortgage to see if that is a viable option. She wants to decrease her monthly mortgage payment which will allow her to put more money towards her goals.

Nina is also thinking of other ways to increase her cash flow, such as increasing her part time driving availability with Uber now that the weather is getting nice. She is also learning to hold off on buying her “want” items and sticking to what she needs.

It might seem daunting at first to figure out how to create a savings cushion in your budget, but with determination and creativity you’ll find realistic solutions that work for you!

Do you need a few ideas on how to bump up your emergency savings? 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!

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

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Posted in ConneXfactor 2017, Contests and Promotions, Money Saving Tips

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