Meet Merrissa: Merrissa knows firsthand the importance of saving: she lost her job when the recession hit and didn’t have any money saved. Abruptly unemployed with no savings to fall back on, she had to move back home until she could find a new job.
Even then, Merrissa’s savings behaviors were sporadic. She jokes, “I used my savings account as a second checking account, not as a place to build up emergency savings.” It wasn’t until SaverLife that she committed to saving regularly.
Merrissa learned about SaverLife in a team meeting at the nonprofit in Fort Worth, Texas where she works. She immediately went online and signed up.
At first, “it seemed so hard to put away that $20 every month.” But she got in the habit of saving every month and the “pay yourself first” method became second nature. Finances can be shameful and hard to talk about. Merrissa says that having SaverLife as her “accountability partner” helped move past her embarrassment about money and establish a regular savings habit.
Merrissa is working to build a $7,200 emergency fund – and she’s already saved $5,000. Knowing that she has savings to fall back on makes her feel “a lot more secure” and confident that she’s making the right financial decisions for her future. She’s even put a down payment on a house. Merrissa knows her budget is going to have to change, but “I’m going to keep paying myself first,” even if it means chipping away at other expenses.
“I got to the point where my finances were embarrassing for me and I didn’t want to talk to my parents about how I had debt and no savings,” Merrissa says. “Now I feel so successful and confident that I have these savings. I know I can do it.”