Member Success Story: The Tie Between Shopping & Investing

a businessman's hand holding up a mini shopping cart full of various dollar bills; against a white background

Did you know there’s a connection between your shopping habits and your investments?  Sounds silly, but one MSA member found it to be true!  Vance was initially interested in developing a budget and cleaning up his credit.  Little did he know that the positive effects of working with a Money Coach would reach much farther than everyday spending, and actually lead to growing his income.

Vance’s hopes of putting money towards savings and investing seemed impossible, especially with $7,000.00 in credit card debt, $20k in student loans, and expenses costing a couple hundred more than net income each month.  Feeling the stress day after day, Vance decided to take action.

Vance entered the MSA Financial Wellness program and was immediately connected with Patrick, a budget specialist and MSA Money Coach who could help him address his financial concerns.  Patrick started by sharing a quote:  “The best way to predict your future is to create it yourself….”  With that in mind, Patrick gave Vance the tools he needed to create a better financial future.  Together, they worked on establishing a debt management strategy called debt stacking.  They also reviewed Vance’s credit reports and discussed how to address the negative items listed.  But that was only the beginning to Vance’s incredible journey, because Patrick’s guidance brought results that even Vance had not expected.

By tweaking grocery shopping habits, Vance discovered new financial possibilities:  “I have learned new ways I can cut back on spending.  When I grocery shop, I don’t buy things I know I don’t need anymore.  I used to buy things because they were cheap or on sale, even if I didn’t need the item or items.  [Based on my new habits,] I probably save anywhere from 20-50 dollars when I visit the grocery store.”

Vance also learned how to properly adjust his W-4, increasing his yearly pay by $2k.  (That’s an extra $165.00 every month!)  Such a simple accomplishment led to increasing Vance’s income and improving his investments:  “Patrick has been great for me.  He has given me the necessary tools to work towards becoming financially stable.  I am looking into new avenues of how I can save money and invest money to grow my income.”

Patrick helped Vance better understand brokerage firms, ETFs, and mutual funds, and how to get exposure to the stock market.  As a result, Vance can successfully focus on investing and boosting his income because he now has the knowledge and means to do so:

  • He has a better handle on spending.
  • He has a better idea of how investing works.
  • And, he’s putting more money in his pocket each month, which can go towards savings and investing.

Vance improved his ability to invest, and it all started with changing shopping habits and saving money.  All in all, Vance was incredibly pleased with the surprising results of working with his Money Coach.  He said, “My financial situation has improved since talking with Patrick…. I really appreciate the time talking with him and his encouragement.  He is a pleasure to work with.”

Vance is in a better place financially, and you can be too.  Start working with your own Money Coach by calling 888-724-2326 today.