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Blogging for Change Blogging For Change
by sitecore\kmcgrigg on November 09, 2009

It seems like everything on television is a competition. Cooking, decorating, and weight loss challenge programs have turned kitchens, living rooms, and workout rooms into battlefields. Thankfully, there are people who are taking a more realistic approach to this “reality” trend. The Lose To Win: Financial Edition makeover competition sponsored by E Federal Credit Union (EFCU) in Louisiana combined practical professional help with unmatched participant dedication to achieve remarkable results.

In early 2009, Kristi Smith, a single mother of two from Walker, LA, was drowning in debt with little savings and little hope. A recent divorce and undisciplined personal spending left her with mounting debt. Smith decided to take a chance at a fresh start by entering the makeover competition.

With the help of her financial coaches, Anna Lafitte of EFCU and MMI’s Valerie Jenkins, Smith and her two children, Shelby and Kalyn, were named the competition’s winner by losing more than $22,000 in debt and saving over $12,000 in eight months. She competed with three other families to see who could reduce debt and increase savings by the greatest percentage during the contest that ran from February through September 2009.

“I can’t believe we did what we did! The numbers we produced in these 8 months were simply overwhelming. I never in my wildest dreams would have ever imagined being able to eliminate $22,000 in debt while saving $12,000 at the same time, “said Kristi Smith. “Our family has made large strides to getting ourselves out of an ugly financial mess, and we can hold our heads high with pride, knowing we did what had to be done to change our future.”

Throughout the competition, each family met at least monthly with their financial coaches to discuss ways to improve their financial situation by reducing their spending habits, increasing their earnings, and living more financially sound lives. In addition, the families participated in quarterly financial seminars.

All of the participating families made real and significant improvements to their financial outlook. Combined, the four families made a financial swing of more than $80,000 in just eight months. For details on how they did it, check out where the families’ journeys were chronicled weekly through online videos and blogs. Event organizers hope that the success of the four families will inspire others to improve their own financial lives. Are you inspired?

Kristi Smith (left) hugged by one of her financial coaches, Valerie Jenkins of MMI/CCCS.

Kristi Smith Hugged by One of Her Financial Coaches, Valerie Jenkins of Consumer Credit Counseling Services

Posted in:  Debt Repayment, Saving


Financial Samurai says:
November 10, 2009

Competition always drives people to action, be it blogging to the top of the ranks or losing the most weight. It's the best way to go!

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