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 EJ H.
EJ H.: Priorities Vs. Pleasure
Coach: Mike Nowicky, Meriden Branch Manager
EJ took a “stay-cation” during this past month in order to save money while still being able to enjoy some quality time with his family. This was something he decided to do because he had faced unexpected car repair bills last month, and did not want to put additional vacation expenses on credit cards. This is an excellent example of understanding your current financial situation and making good decisions to keep working towards your overall financial goals.
When we first met back in April, EJ provided me with a very detailed budget worksheet that listed his monthly bills and the amounts he was sending to each credit card company in order to lower his total debt. He is sending more than the minimum payment amount so that he can make a bigger dent into his outstanding balances and he has made sure to stick to this budget during the contest which has helped to lower his overall debt. As he pays off the lower dollar amount cards, he can then start paying down the higher-balance cards at a much faster rate.
The 2019 ConneXfactor end date is fast approaching and EJ is working hard to get himself ready for the finish line. Check back next month for an update on how he is doing, and the great ideas we’ll share to help YOU reach your financial goals!
Are you interested in finding a strategy to pay off credit card debt that will work for you? 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.