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.
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%
More Like This
Debt and divorce pose a serious challenge for anyone, but for a deployed soldier, it can prove even more difficult. Randy was headed overseas and worried about the financial hardship he was leaving behind, so he started working with a Money Coach, looking for support on the home front. When Randy entered the My Secure […]
Past due bills, credit card debt and a home facing foreclosure seemed like an impossible challenge for Veronica and her husband. Fortunately, Veronica’s employee assistance program provided access to the My Secure Advantage (MSA) Financial Wellness program, where they received the utmost care and education from Tiffany, an MSA Money Coach and Investment and Retirement Specialist. […]
Grace, an employee of a leading company in mail distribution, came to the MSA Financial Wellness program in 2013 with the initial concern of her divorce: “I am recently separated from my husband, so I was initially very concerned about being financially able to take care of my needs.” When she entered the program, the […]
It’s a whole lot easier tackling financial challenges – like managing credit cards, taking on student loans and understanding insurance policies – when you have a team of money coaches beside you. Ryan made great progress in just two months because he could address each issue with a Money Coach who specialized in that particular […]
