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.: A Creative Way to Save
Coach: Tameeka Lockwood, New Haven Branch Manager
Brendan is noticing it is not as easy to stay focused on financial goals in the summer as it was in the spring. There are so many seasonal activities and events that crop up during the summer months, so it feels like the temptation to spend increases!
The good thing is that even though the weather is nice and there are many money-spending attractions, he continues to remain on track with his savings. He credits his new way of thinking about money for helping him stay on target – which, ultimately, is what the ConneXfactor competition is about! Changing how you think about money and adopting positive new habits that will lead to financial success.
Brendan is remembering that he is paying in advance for his future. Thinking this way allows him to diligently put money aside, but it also makes it that much more tempting to consider spending the funds that are easily accessible. As he continues to work on discipline and lessening unnecessary spending, he is treating his monthly goals like bills in order to secure his future. The way Brendan thinks about it is: once a bill is paid, that money is gone and we can’t go back later and use it for something else. So the money he is faithfully saving is like a bill in that he considers it “gone” once he puts it in his special savings account. With the additional money Brendan picks up doing gigs as a musician, he is able to meet his financial goals even quicker. It’s always great when you can make money doing something you love!
As we all know though, life happens and sometimes there are pot holes in the road that we sometimes fall in unexpectedly. Having a plan to get out is the key. Treating our futures as a priority now is the best way to having a successful one later.
Are you finding it challenging to put money away for a rainy day? 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.