From Panicking to Planning: 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 Sheila G.

Sheila G.: From Panicking to Planning

Coach: Tameeka Lockwood, New Haven Branch Manager

Sheila still has high momentum, even with the health challenge she ran into recently.  She started getting sick and discovered mold in her home. Normally with an emergency like this, she would panic and end up charging her credit cards to resolve it. However, being in the ConneXfactor competition has ignited a new way of thinking in Sheila. First, she asked around for reputable repair companies who could assess the moisture situation.  Sheila wanted to clearly understand how bad it actually was, so she could decide how to proceed with fixing it. Fortunately, it hasn’t gotten way out of hand, and can be repaired in sections. With a better idea of the cost involved, she put in more hours at work so she can pay for the repairs quickly.  This makes her appreciate the importance of having an emergency savings fund for unexpected challenges like this. It can be a huge financial setback if you are not prepared, and cause tremendous stress.

This new mindset also has her thinking of ways to make more money in general, to add more of a cushion to her savings. She wants to not only meet her goals, but exceed them. Sheila is also not buying things that she doesn’t need right now. She is keeping her eye on the prize!

Sheila is on a good path because she is being more mindful about the way she is spending  money, while also trying to create ways of making more money. A healthy financial life starts with changing unhealthy habits first. I’m proud of the new mindset Sheila is adopting!

Do you need help creating an emergency savings fund? 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, credit cards, Debt, Financial Education, Improve your life, Safety, Uncategorized, Women

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