Getting Over Financial Speedbumps: ConneXfactor 2019

2019 connexfactor contestants

For six months, Connex Credit Union will be working closely with four 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 sixth annual ConneXfactor competition! Below is the next update on Nikia B.

Nikia B.: Getting Over Financial Speedbumps

Coach: Frank Pomarico, Hamden Branch Manager

It’s hard to believe a month has passed already for ConneXfactor. Nikia has been sticking to our plan in regards to funding the emergency savings and retirement accounts we set up for her.

Unfortunately, we all can encounter speedbumps at some point while cruising down the road toward our goals. Nikia experienced this recently. She had an expensive dental procedure that she needed to address, and was under the impression she’d have to pay for 100% of it which would’ve been a huge hit to her momentum and budget. After talking to her insurance company, she was elated to find out she would only be responsible for 50%. This is still a hefty financial obstacle, even though she doesn’t have to pay the entire bill. We’re looking into different options for how she can take care of this, while still paying down her other debts.

The good news is that Nikia is making great strides when it comes to saving money! We looked into lowering her homeowners and auto insurance through Connex’s TruStage Auto & Home Insurance Program. Working with carefully selected insurance companies, these programs can provide discounted rates designed for credit union members. Nikia also switched from Xfinity to DISH which will save her a whopping $220.00 a month! She is also not buying lunches as much during the week to save money. It’s not easy to switch financial gears when you’ve been used to doing things one way, but Nikia is very committed to our plan and improving her financial habits – which is ultimately the most important thing!

Are you looking for ways to pay down your debts, and finding it challenging? 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.

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

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Posted in ConneXfactor 2019, Contests and Promotions, Debt, Financial Education, Improve your life, Money Saving Tips, Women

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