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 fifth annual ConneXfactor competition! Below is our update on Brendan G.
Brendan G.: Who You Should Pay First
Coach: Tameeka Lockwood, New Haven Branch Manager
Brendan continues striving to meet the goals that he has set building for his financial future. Because he works on a farm, he is able to save money on fresh produce. The money he is saving on his food bill will be added to his emergency savings account over the next few months, helping to grow that account. Another area that Brendan is cutting costs is in his entertainment. Just because you’re saving doesn’t mean you can’t enjoy a little fun in your life. Like everything else, you need to maintain balance. Brendan has already discovered activities that are free or very little cost to enjoy. Some of those ideas include bike riding, hiking, beach visits, and taking advantage of the free days at the zoo and different museums; all great ideas! The good thing is that summer is coming and the weather will be great to enjoy these recreational activities.
Brendan has also done something he’s never been able to do before – pay himself first. By paying himself first, he is helping secure his financial future by intentionally saving for it now. He sees the importance of being financially fit rather than spending every bit of his paycheck, and having nothing to show for it. Treating yourself and being mindful of what you are trying to accomplish is a delicate balancing act, but it can be done with a dedicated mindset. Brendan’s thinking has already changed in the competition, making it more likely that he’ll stay on this successful path the next 3 months of ConneXfactor.
Do you need help treating yourself by beefing up your savings account? 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.