Member Success Story: From Bankruptcy to Better Than Ever

a woman standing in a field with long grass, and she's looking at the sun and raising her arms in the airWith MSA Financial Wellness, you get more than a financial solution; you get financial success.  Not buying it?  See what one of our members had to say about working with a Money Coach through the MSA program.

With $100K in debt and bankruptcy looming over her, Sarah turned to MSA with hope for a better solution.  She explains, “When I started the program, I was around $20K in credit card debt and $80K in student loan debt.  I had no idea how to budget and felt like I had no handle on my finances.  I was on the  verge of declaring bankruptcy and had even met with a bankruptcy lawyer.  This option did not feel right to me, so I decided to reach out to MSA for help.”

Sarah’s Money Coach understood her predicament and provided not only a solution to her problem, but the skills she needed to become financially successful:

“Coach Dave, as I call him, has been a Godsend!  I am sooo happy that I am working with him.  I have totally gained control over my financial life with his support and guidance….  With Coach Dave’s warm, enthusiastic and wise approach, I gained the confidence and skills I needed to gain control.  Coach Dave helped me see the value of using a debt management program, consolidating my student loans under a federal loan program and most importantly how to create, refine and maintain a budget.  Now, I am in a program that makes sense and works for me!

I will be out of credit card debt in 4 years (it was five but now I am a year in) and out of student loan debt… in 10 years.  I can’t tell you how amazing it feels to have a set plan.  I feel so much more balanced, in control!  Creating a budget and tracking my spending each month has also given me such a sense that I can handle my life!”

Working with her Money Coach not only gave her a way to overcome her financial challenge, but also allowed her to move forward with a set plan and skills for the financial situations of everyday life.

It’s more than a one-and-done mentality.  Each member receives ongoing support and accountability.  A Money Coach helps the member change his or her behaviors and learn best practices so that the member can feel confident about any financial goal or challenge that may arise.  For example, Sarah was dealing with major debt, and Coach Dave is helping her diminish it, but he’s also helping Sarah improve her overall finances – reaching goals she may not have thought possible with the looming bankruptcy.  Sarah shared about her success that went farther than just getting rid of debt:

“Seriously, since I started working with Coach Dave, I have savings for the first time in my life!  I have around 3K in my savings account!!!!  Also, I saved up enough money to move into a new (and better) apartment (putting down security and 1st month no worries) and to buy a new car!  These accomplishments are directly related to working with Coach Dave!

My life in general has improved since I now feel empowered and secure that I can ‘handle things’ financially.  This independence strengthens me in other areas of my life!  I can’t say enough about how wonderful Coach Dave is.  He is so positive, encouraging, supportive, as well as extremely knowledgeable and wise.  Go Coach Dave!”

Sarah is the perfect example of how working with a Money Coach is more than a quick fix for a financial issue.  Employees who team up with a Money Coach see how financial stability positively effects other areas of life.  For more information about how you can conquer your financial challenges and improve overall financial wellness, call MSA today at 888-724-2326.

The Snapshot of Success
a table showing the impact on finances before and after working with a money coach: overspending versus having a monthly budget; $100k in debt versus a plan to be debt-free in 10 years; $0 in emergency savings versus $3,600