Success Story: Facing a Divorce with Confidence

When Patrick came to the My Secure Advantage (MSA) Financial Wellness program, he was looking at divorce and taking on new debts and bills by himself.  He took a financial wellness survey and got a 3.5 out of 10, indicating that he had high financial stress.
By MSA Staff

When Patrick came to the My Secure Advantage (MSA) Financial Wellness program, he was looking at divorce and taking on new debts and bills by himself.  He took a financial wellness survey and got a 3.5 out of 10, indicating that he had high financial stress.  See how working with MSA helped him face his divorce and money challenges with new found confidence.

As Patrick put it:  “When I first called, I was a mess as I was in the middle of my divorce.  I started taking on mortgage by myself, along with taking care of the bills on my own, as before my wife had managed this portion.  This was challenging as I went from a dual income to a single one.”

Patrick was immediately connected with Angelik, a MSA Money Coach and Certified Credit Counselor who could help him overcome his financial challenges.  Together, they developed and achieved two goals: a spending plan and a debt strategy.

Spending Plan

Because of the pending divorce, Patrick had to start paying bills that he hadn’t previously taken care of.  The new responsibility was quite overwhelming.  That’s why Coach Angelik suggested the use of a spending plan that would help him regain control of his cash flow.

Creating a spending plan revealed that Patrick had a deficit of $700, when it came to having enough income to meet expenses.  Coach Angelik gave Patrick tips on how to cut down costs; for example, Patrick dropped cable and switched internet providers for a better price.

Even those small steps of cutting costs were relieving for Patrick, and he saw major improvements%

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