Member Success Story: Boosting Savings & Calming the Waters

Who doesn’t want to turn a shortfall of money into a surplus of income?  Sergio, an MSA member, was feeling the stress of a tight budget, but working with a trusty Money Coach through the MSA Financial Wellness program helped Sergio regain financial control.
By MSA Staff

Who doesn’t want to turn a shortfall of money into a surplus of income?  Sergio, an MSA member, was feeling the stress of a tight budget, but working with a trusty Money Coach through the MSA Financial Wellness program helped Sergio regain financial control.

When Sergio entered the MSA program, he carried the stress of being a single parent with three boys and a low income.  He started working with a Money Coach, Chad, who understood the challenge and could help him move forward:  “Sergio had a desire to change his financial state of mind.  We tried some different methodologies to track his spending and found the right one for him.  Sergio has always been positive and proactive in trying these different tools and applying them to his Spending Plan.”

For starters, Sergio made a discovery that totally changed his way of spending.  With Chad’s help, Sergio reviewed the family cash flow and found out that he was actually $348.00 short for meeting expenses.  Constantly running out of cash before your next paycheck will certainly cause stress, and it’s a fast track to financial ruin, so Chad showed Sergio how to plan for costs and create a budget.  Taking into account things like summer camps and eating out make it easier to save and meet expenses.

The financial education didn’t stop there.  Together, they reviewed Sergio’s credit reports and considered how to manage debts.  They even talked about Sergio’s W-4 and making sure he’s on track with deductions.

Now that he’s working with Chad, Sergio doesn’t carry the weight of financial stress anymore, and he has tangible, positive results: he no longer sees a $348 deficit in his monthly cash flow but almost $600.00 left over.  Doing some quick math, that’s $7,200.00 a year!

Sergio had this to say about working with his Money Coach:  “When I entered the program, I was experiencing a high level of stress and was dealing with horrendous credit issues.  Since working with my Money Coach, I feel much more organized and on track.  My stress level has gone down, and I no longer feel overwhelmed.  My Money Coach helped me look at my finances from a new perspective, and I feel more in control.”

Chad gave the education and moral support Sergio needed to get through a crazy time of life and to start turning financial turmoil into financial success.  Do you want to get rid of some financial stress too?  Work with your own personal MSA Money Coach by calling 888-724-2326 today.

Information provided in this article is for informational purposes only and is not intended to offer specific personalized investment, financial planning, tax, legal or accounting advice.  We recommend that you consult an attorney, tax advisor or accountant regarding your unique circumstances.

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