Fox Cities Financial Makeover Challenge
The annual Money Smart Week Fox Cities Financial Makeover Challenge helps local families improve their financial situation through one-on-one financial counseling from FISC. Four families will set goals and work with FISC counselors to increase their savings and reduce debt over four months. The family that comes the closest to reaching their goals will receive $3,500 and each runner up family receives $750. The Challenge runs annually from December 15 to April 15.
Applicants meet regularly with their FISC counselor, and attend FISC’s “The Power of Money” workshop. Their counselor helps them identify ways to reduce spending, set goals that are meaningful for them, and develop a plan to reach their goals.
Here are a few of the reasons why people have wanted to participate in the Challenge:
“We both have solid jobs with solid incomes, but because of our student
loans and credit card debt we are essentially living paycheck to paycheck.
The stress of living paycheck to paycheck has become tiresome and we are
looking toward the Challenge as a way to focus on our goal and achieve it.
Our goal with your help is to develop a plan to get out of debt.”
“We have a new baby coming and we don’t know what to do. We really
need help to set a realistic monthly budget, so we can save for our goals
while enjoying time with our family.”
“We need more help because we disagree on how or what to save.”
Past Challenge participants have shared some of their learning experiences:
“We’re being more cautious about the food we buy, spending less,
and not wasting as much food.”
“We didn’t really know how much each other was spending or
how much we were spending. We had a deficit of almost $300
per month in our spending. Thanks to tracking and changes we
have made in the first month, we have already reduced our
monthly deficit to less than $100.”
“This was the first year that we didn’t create debt for Christmas.
We did it by reducing the amount we spend on gifts and we
learned to say “No.”
We want to encourage and inspire you to take action and make your financial situation better. Even if you don’t participate in the Financial Makeover Challenge, you can “makeover” your finances by working with a FISC counselor.
Click here to watch a video about our 2012 Financial Makeover Challenge contestants and winners.
Click here to watch videos about the 2011 Financial Makeover Challenge.
Sponsors of this event include the Appleton Area School District, Appleton Public Library, Capital Credit Union, Coalesce, Inc., Community First Credit Union, Congressman Reid Ribble's office, FISC, Fond du Lac Public Library, Fox Communities Credit Union, Fox Valley Technical College, Lakeview Credit Union, Menasha Public Library, New York Life Insurance Company, Thrivent Financial for Lutherans, Unison Credit Union, UW-Extension Outagamie County, and the Women’s Fund for the Fox Valley Region, Inc.
Her Money
If you are a mother and daughter looking for help and guidance about finances, then Her Money is a special program for you. Through this program we provide financial education and support to help you and your daughter establish goals, build savings and successfully communicate together other about money. You and your daughter can each receive a “two-for-one” cash incentive for every dollar you save and you are eligible to earn up to a $200 match and your daughter up to $100. By providing both support and incentives, we can help you and your family make saving a lifetime habit that you pass on.
Her Money is a collaboration that includes FISC, Fox Communities Credit Union, Goodwill Industries of North Central Wisconsin, the University of Wisconsin Extension, and the Women’s Fund for the Fox Valley Region, Inc.
To learn more about this program, visit our site or call FISC at (800) 366-8161 .
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