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becca and joel

Becca, Joel and Taytum

Okay, savvy savers we have our final 2015 Project Money team summary! As 2016’s Project Money program approaches, we can’t think of a better way to close out 2015 than with Becca, Joel and Taytum who erased over $15,000 of debt. In just a matter of months! Yes, we said the same thing

Though their seven-month journey is now at a close, Becca and Joel have transitioned from living paycheck-to-paycheck to a position where they can plan for the future. The couple achieved great milestones during their Project Money journey. Just days before the program began, they bought their first home in which Joel proposed to Becca!

The key to their success came down to respecting money. Where they once spent beyond their means without much forethought, they now understand the importance of having a plan for where their dollars go… and tracking.

“This program really changed our attitude towards money,” said Becca. “In the past, we spent carelessly, often purchasing things outside of our means, and used our credit cards unwisely. Now we respect money and understand the importance of having a plan when it comes to using it.”

The team learned that by understanding where their dollars went, they could do a better job of anticipating situations that would require more financial support, and therefore, make a plan to accommodate those situations instead of winging it like they had in the past. Tracking showed Becca and Joel how even small contributions of $25 or $50 could make a dent in their payments and how small lifestyle adjustments, such as going out to eat less often, taking the bus or giving up cable can add up every month. By taking a “small steps for big change” approach, they were able to reduce their debt by over $15,000!

One unexpected bonus of participating in Project Money for Becca and Joel was finding out that they had much more potential than they gave themselves credit for! With the help of their coach, Sarah, who cheered them on and provided accountability, Becca and Joel found their potential and focused it on awareness and planning – which ultimately led to a huge leap forward in their financial health.

Over the course of the next five years, the couple hopes to be debt-free (not including their mortgage), make a dent in Becca’s student loan payments, travel and contribute to their daughter Taytum’s college expenses.

Becca has embraced Antoine de Saint-Exupéry’s quote, “A goal without a plan is just a wish,” and has learned her family’s financial goals are certainly no different. Congratulations on your progress, Becca and Joel! Keep it up!

Total Savings Increase: $5,513; Total Debt Reduction: $15,028