Meet Meghan: Meghan is a special-education teacher from Milwaukee, Wisconsin. She lives with her partner, a high school Chemistry teacher, and their three children. Meghan has always tried to save – but between her two jobs, her partner’s two jobs, mountains of student debt, and taking care of their blended family, the expenses add up. She struggles to find the spare money to set aside as savings.
Still, Meghan and her partner dream of saving enough to pay off their student loans, get married, and buy a house of their own. SaverLife helped Meghan make small changes in the way she uses, saves, and budgets, putting her on a path toward achieving these goals.
Meghan learned about SaverLife from the Budgetnista’s Facebook group, where a woman recommended the program. After looking into SaverLife, Meghan “signed up right away.” At that time, Meghan was struggling to find time for cost-saving tricks like cooking at home instead of eating out. “I was always that girl who had automatic transfers to my savings set up, but then I’d transfer it right back to pay my expenses,” Meghan jokes.
Meghan’s first step toward better financial habits was opening a new savings account to use with SaverLife: “I wanted a fresh place to save, a separate account so that I won’t be tempted to spend the money.”
She’s only just begun saving, but Meghan has already met her $20 goal this month. Having $20 tucked away in a savings account that she intends to turn into an emergency fund is "a big deal” to her. It’s tempting to transfer that money out to pay for expenses, but knowing that she’ll earn rewards helps her keep the money in her account.
On top of that $20 that she’s resolved to save every month, Meghan has also made paying down her student loans a priority. She consolidated some of her debt and set up automatic payments that come out of her paychecks every month.
Thanks to SaverLife, Meghan's 2018 resolution is to track her expenses carefully to make sure her spending habits are in line with her goals. Her first benchmark is an emergency fund, and she's well on her way. After that, she'll focus on paying down student debt. Meghan’s commitment to saving makes her “feel like I can achieve my goals,” which is incredibly empowering.
Ultimately, she hopes that her savings habits will have a ripple effect on her kids’ lives, so that they can start saving early and achieve their own dreams.