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 first update on Sheila G.
Sheila G.: Ending on a High Note
Coach: Tameeka Lockwood, New Haven Branch Manager
Sheila has completed the ConneXfactor competition, and on a high note! She met many of her goals, and is now planning to meet with Will, Connex’s CIRS representative, to set up an ongoing high-interest savings account for her daughter’s college education. Having this special fund set aside means she won’t dip into them, since they won’t be commingled with her personal finances.
Much of Sheila’s transformation that occurred over these past six months is due to her changing her thinking. This is what ConneXfactor is truly all about! Rethinking how you handle your money and instilling new habits is the ultimate goal of ConneXfactor. Once these changes start happening, contestants start seeing real, tangible results. In Sheila’s case, her spending habits have changed. She now thinks about spending in terms of needs vs. wants.
She is now a super saver as well! Sheila pays herself first each pay period by treating the automatic deductions to her savings account like a bill. This “bill” is really a deposit into her future. She is not in the “spend now, then see what is left to save later” mentality anymore. Sheila now realizes you do not have to make an extreme amount of money in order to save.
With Sheila’s new thinking and putting these thoughts into action, she is on her way to a much brighter financial future for her and her daughter. She is also thankful for the hints and ideas that she has learned and can now pass on to her adult sons as they prepare for their financial futures.
I am very impressed with Sheila’s growth! It has been my pleasure to work with her over these past few months.
ConneXfactor may be over, but you can still work with our coaches! Connex’s Financial Advocates work with you to create a customized financial plan to help you stay on track. Stop by any branch or get started online today.