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.: Handling Major Unexpected Expenses
Coach: Tameeka Lockwood, New Haven Branch Manager
Despite the many obstacles that have attempted to interrupt her focus, Nina continues to stick to her rhythm of saving to build her emergency fund and changing the way she pays for things. She had another successful month of paying herself first so her savings will grow as well as paying down debt.
A big challenge that came up recently was a huge water bill that Nina wasn’t expecting. Her tenant had a leak in their apartment, but never told Nina about it. Instead of acting on impulse and reverting to old financially unhealthy habits like using her credit card to pay the bill, she calculated the amount she owed and made arrangements to pay it off monthly. She took the time to think about the best way to resolve this issue without it having a negative impact on her current financial situation and her immediate future. This is a huge victory for Nina as it shows her new mindset that is going to be the bridge that takes her financial state to a whole new level.
The other good news is that she has resumed her Uber driving grind now that college is back in session. This means extra money coming in again! She had mechanical challenges with her car a few months ago, which resulted in it being out of commission for a period of time. So, she is happy with hitting her stride again.
Nina has also learned to be there emotionally for her family through difficult times without having to handle their financial problems. She is on the right track to making sure she is in a position to help others without getting herself deeper into trouble. She is now aware that she can’t truly help others until she is in a position to help herself financially.
Do you need help dealing with unexpected expenses? 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!