The word “budget” can spur feelings of anxiety in many people and is even taboo in some households.
Working with My Secure Advantage (MSA) can help alleviate those negative feelings and help you build the skills you need to budget confidently.
Take Bailey, for example.
When Bailey first approached MSA, she had little confidence in her financial abilities and was especially concerned about her budget. Even though she was budgeting, she still felt like her financial goals were out of reach.
Bailey had an automobile loan of $11,000 hanging over her head, and she also had two outstanding student loans. While she wasn’t necessarily struggling to pay her bills, she stressed over every credit card statement she received and felt insecure about her future.
At the very beginning of this journey, Bailey experienced high anxiety over her finances. She was ready to rid herself of daily money stressors and wanted to feel like she had better control over her budget.
Building a Better Budget
Bailey worked with her MSA Money Coach to create a manageable budget to fit her lifestyle. They discussed strategies that would let her meet her financial goals and enjoy life without scarcity. Bailey said, “[I] had very low confidence in my financial skills, especially around budgeting. A year later, I have $16k in savings and am working on more!”
As Bailey gained confidence in her financial abilities, she became laser-focused on getting out of debt, and her MSA Money Coach was alongside her to help. Together they found creative ways to put more money toward outstanding debts.
Together, Bailey and her Money Coach determined which steps she could maintain long-term. She started taking her lunch to work more often, set up “no-spend days” and organized a clothing swap at the end of the month instead of shopping.
Working with an MSA Money Coach helped Bailey build the skills she needed to confidently plan her financial future, pay down her debts and build a budget that she could rely on.
She also found additional ways to lower her stress.
Her Money Coach recommended that she use the resources available through her Employee Assistance Program (EAP). This led her to be approved for a life-changing meditation course that taught her strategies to overcome stress.
Bailey put it this way, “[My Money Coach] has helped me so much, both in terms of budgeting, savings, and giving great life advice.”
Confidence in the Future
First, Bailey’s Money Coach was able to show her how to focus on building her emergency savings account. Next was debt. Within a short time, Bailey was able to tackle her car loan and her student loans: “I paid off my car loan, which was hanging over my head, [and] I’m about to pay off the last $2k of student loans.”
The progress didn’t stop there.
With the guidance of her Money Coach, Bailey also got a better understanding of her company stock and retirement options. She was also referred to a tax coach who could explain her withholdings and pre-tax deductions. This allowed her to save money on her taxes.
With the aid of her tax coach, Bailey made changes that better suited her financial goals. Now she is saving for a house, as well as a sabbatical to explore her passion for international development.
After working with MSA, Bailey said, “It took many months of budget tracking to get to a point where I felt comfortable pushing myself to save more, knowing I could still have enough left over for my expenses. I can’t thank [my Money Coach] enough for this… I feel 100% confident in my financial future and the skills I’ve built.”
If you’re ready to see where life can take you when you have faith in your financial abilities, contact an MSA Money Coach today.
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