Getting Smarter About My Finances

I’m really excited to be one of four contestants in Summit Credit Union’s 2011 Project Money competition; I’m also a bit nervous. I’ve never really paid such close attention to my finances. Which could be why I now need the assistance of a financial coach!

I’ve already eliminated some luxury-type expenses; I stopped using my iPhone and cancelled my service.  I went with a cheaper phone and a less expensive plan, which is saving me $60/month. I also cancelled my gym membership. Even though it’s good for my health, I’m saving approximately $45/month. Now I’m getting all my exercise by running outside - it’s just as good for me and it’s free. 

I met with Emily, my financial coach for the first time and we’ve already discussed strategies for helping me save more and pay down my debt.  For example, I could consolidate my debt into one loan and lower the interest that I’m paying each month.  I’ve already learned several ways that I can be smarter about my finances and it’s only week 2. Over the next seven months, you will have the opportunity to follow me, as well as the other three contestants, on the Project Money homepage. We will share tips and lessons learned and hope that in return you share your ideas and thoughts with us.  I especially want to hear about the ones that will help me win!! You can even play along if you’d like. Be sure to “like” me on Facebook – Project Money Jennifer - and you’ll get regular posts about my journey.  Stay tuned…

 

Comments

[certified financial planner]

We share the same experience with almost everyone. Tougher economic situations force us to make better decisions.