Stories for National Financial Goal Day

Monica’s Story

When Monica arrived at her first coaching session, she was prepared. She pulled out her phone and ran down a list of goals sorted by order of importance. Needless to say, our financial coach was intrigued.

Despite it being her first session, Monica was on a journey and had already covered substantial ground. Having enduring years of abuse in her marriage, Monica had worked tirelessly to establish financial independence, find stable housing, and support her children. She learned to keep costs low by joining a clothing exchange with other mothers and signing up for free classes at her local community center.

Monica’s goals were forward-thinking:

  • Get trained to be a peer counselor
  • Start a blog to raise awareness about the long-term effects of abuse on survivors
  • Go back to school and one day become an educator

As her children grow, Monica will donate the items that she no longer needs – expensive things like strollers, playpens, and cribs – to survivors in earlier stages of recovery.

Establishing financial independence was just the first step for Monica. Now she’s searching for the tools and resources to save so that she can reach her goal of making a positive impact in the lives of fellow survivors. In other words, Monica is paying it forward.

Esther’s Story

For the past few years, Esther has filed her taxes at one of the Clinic’s Volunteer Income Tax Assistance (VITA) sites in Queens.

In 2017, she made an appointment with a financial coach because she wanted to build credit but wasn’t sure how. Esther is undocumented and provides independent cleaning services as her main source of income.

During the session, Esther shared about her three-year-old son who she someday hoped to send to college, and learned of the option to direct a portion of her tax refund to a 529 college savings account. In doing so, Esther would instantly increase her son’s probability of attending and graduating from college.

It was a no-brainer. This past April when Esther filed her taxes, she and 1,600 of her fellow New Yorkers directed over $1 million to 529 college savings accounts, setting their loved ones on the path toward higher education.

Esther continues to meet with her coach to build credit and work toward her long-term goal of sending her son to college. In her last meeting, Esther told her coach, “I made an appointment for one thing, but I left with much more.”

Donate today to help us continue to serve customers like Esther. Our goal is a financially secure America. What’s yours? #MyFinancialGoal

Lisa’s Story

Like most customers, Lisa arrived to her first financial coaching session with a problem.

She owed over $100,000 in student loans and, despite working full time, struggled to manage her payments. Lisa had missed two payments in a row and was anxious to get back on track.

Our financial coach dove right in and the two worked together to comb through Lisa’s monthly expenses. When they noticed that a large expense category was “craft supplies,” Lisa explained that she and her partner were publishing a book together. She had been purchasing supplies to finish the book’s illustrations.

Without prompt, Lisa launched into her financial goal: she wanted to marry her partner and start a family. She was in love, but knew she needed to find solid financial ground before she could take the leap. Over the course of several months, Lisa and her coach reworked her budget, mapped out a timeline for her book, and identified spending areas to reduce in the interim.

Lisa was able to balance her budget and get her loan payments back on track. She and her partner are putting the final touches on their book and making plans. Lisa’s future is looking bright.

Financial coaches work with customers like Lisa every day. While budgeting helped Lisa regain control of her finances, it was her goal to marry her partner and start a family that gave her the energy and determination to change her spending habits.

Donate today to help us continue to serve customers like Lisa. Our goal is a financially secure America. What’s yours? #MyFinancialGoal