Success Story: Priceless Financial Guidance

a quote from Mallory in California that says, '[My Money Coach] offered budget tools. [He] made suggestions of ways to manage finances and use my resources to stay in my home. [He's] moral support, a person to bounce ideas off of without judgement! (Priceless!)' on a blue overlay covering people's faces in the background

Mallory’s household income was reduced, and she found herself relying on credit cards just to get by, that is, until she started working with a Money Coach who gave her the guidance she needed to get back on her feet financially.  With such a powerful transformation, she deemed the experience priceless!  See for yourself…

Before coming to the My Secure Advantage (MSA) Financial Wellness program, Mallory felt panic stricken each time she had to face her finances.  Her household income dropped by $2,000 after a separation, and she was trying to pay down $35,000 in credit card debt.  On top of that, the loss of income and overwhelming bills were threatening her ability to stay in her home.

Upon joining the MSA program, Mallory started working with Money Coach Lee.  He immediately assessed Mallory’s situation, and they developed goals of getting her finances in order, making sure she could keep her house, and relieving her financial stress.

Getting Finances in Order and Keeping the House

“[My Money Coach] offered budget tools and coaching on how to use them. Made suggestions of ways to manage finances and use my resources to stay in my home.”

To make finances less confusing, Coach Lee gave Mallory worksheets for tracking expenses, and he helped her develop a spending plan.  Knowing how much money is coming in and how each dollar is spent gives a sense of control and makes it easier to manage finances overall.

Becoming more organized with her finances allowed Mallory to prioritize her payments and even discover how she could start saving money.  Before MSA, Mallory didn’t have any savings except some money set aside for retirement.  Now, Mallory said, “[Lee is] helping me figure out how to fund an emergency account (already have $1,500 in that account at this moment!).”

Lee also suggested little things to make finances less confusing.  For example, Mallory travels a lot because of her job, so Lee suggested transferring money for work into an account that’s separate from her personal savings, making it easier to track expenses and available funds for work activities.

Keeping the house was another goal for Mallory, so Lee walked her through all the different options and their related consequences: refinancing, debt consolidation, bankruptcy, and borrowing from a retirement account.  After a few consultations with Lee and discussions with an attorney, Mallory decided to use some of her retirement savings to take care of the first mortgage.  The result?  She no longer has to worry about losing her home.

All in all, with Lee’s guidance, Mallory has paid off all the household bills that were past due, paid off taxes, and paid off one of her loans thus far.

Relieving Financial Stress

“Lee is very easy to talk to and is always reassuring.  He reinforces the good habits and acknowledges the learning curve for someone who has always lived paycheck to paycheck, and more recently, on credit!  He is friendly, and relatable.  Basically…he’s awesome!  I appreciate his energy and gentle but professional nature.”

After several consultations, Mallory was very comfortable with her financial decisions and her ability to live within her means.  She no longer relies on credit or worries about making it to the next paycheck.  Her progress was clearly evident in the financial wellness survey she took periodically throughout her time in the MSA Financial Wellness program.  When she first started with MSA, she scored 2.25 out of 10, which indicated high financial stress.  After several consultations, she almost doubled her score: she got 4.25 out of 10, reflecting her ongoing progress.  Her latest score was 6.25 out of 10, showing her new-found confidence with money.  Overall, Mallory improved her level of financial wellness by 64%.

Because of how far she’d come with the help of her Money Coach, she not only felt great about everything, she found herself looking forward to more coaching sessions and creating even better habits in spending, saving, etc.

Now, instead of worrying about meeting all the necessary expenses, Mallory has the financial freedom to focus on more enjoyable activities – and know she can safely afford them.  She loves playing the drums as a hobby, and she recently got a drum set from her daughter.  Because of Mallory’s dedication and perseverance with fixing her finances, she knows she can afford taking lessons, improve her skills, and enjoy her life.

When considering what she appreciated most about working with Lee, Mallory said, “Moral support, a person to bounce ideas off of without judgement! (Priceless!)”

Want priceless financial guidance to improve your own life?  Talk to a personal, trustworthy Money Coach by calling 888-724-2326 today.