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who Will win $10,000?
Join our participants as they reduce debt and increase savings with the help of Summit financial coaches.

Jaclyn and Kiara's Journey:

the purpose of money

If you are a Summit Credit Union member and are not using Money Minder and the magnificent Cash Flow Calendar, then you are truly missing out! It truly puts your money right in front of you and shows you exactly where it is going and what you have. As a community, we never really think about the purpose of our money – does your money really have a purpose?

Before Project Money and the Cash Flow Calendar, our money truly seemed to have no purpose. We were just getting by on our bills and purchasing so many unnecessary things. How much laundry detergent and clearance clothing can one really need? We would treat money like we seemed to have an overflowing well in the center of our apartment and not like were living paycheck to paycheck. We were "living the life" and could not see how it was harming us financially.

Let's jump forward to the beginning of June. We walk into an office and get ready to meet someone that is ready to teach us the ways of the world and where to start. He sits us down and tells us like it is. We needed to stop buying the clearance laundry detergent which by then we had well over a years worth. We needed to stop eating out everyday and start meal prepping. After creating our beautifully simple budgets, we were introduced to the lovely application that is Money Minder and an even better benefit which is the cash flow calendar. With the cash flow calendar we are able to enter in all of the things that we need to know financially for each month. We have entered in all our payments that are due and also our incomes so that we can see what we have not only in our accounts at the time but also for the future. So we have come to a point finally where our money has a purpose. The purpose of our money at this time is to become debt free and also to save for things that we feel are vital to us such as peace of mind (also known as life's little hiccups), vacation (because everyone needs a break) and our future home. With the cash flow calendar we have been able to see exactly what we can pay off and how we can move money around. We have been able to pay off thousands of dollars and also been able to set up a weekly savings transfer in order to get ahead later. We can see its purpose and it feels amazing.

The next question is what will the purpose of our money be in the future? With the cash flow calendar we can see that we will be able to pay off our personal loan by the end of December, so we decided to venture further and see what we can achieve next year with our now very purposeful money. Needless to say, if we decide to keep working all of the jobs we currently have, by the middle of next year, we could have an ideal amount for a down payment for our future home. With that being said, we could also have a substantial amount even without working our extra part time jobs. Moral of the story is that our money may not have had a purpose in the past but it is definitely important now and even more important in our future. What purpose does your money serve? If it does not have a purpose, what will you change in order to get the most of your money and in order to achieve your dreams.


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