How a teacher learnt a financial lesson
19 Mar 2018
For more than 34 years, teacher Christy R has been helping children with reading, writing and arithmetic, her focus completely engrossed in her work and family life and not on her financial position.
Not long ago the 57-year old was struggling to cover the cost of her mortgage and was facing increased financial pressure from some investments which were underperforming. A change of employment saw her go from a contract role to a relief teaching arrangement and added to the stress of living from week to week.
“I had very high debt levels and had to watch every penny. That meant there was no going out, holidays were spent at home and going without luxury items just to pay the bills and make ends meet. I came up with lots of clever ways to make a little extra money to help me through times of little or no work,” Christy says.
The long-time Credit Union SA member knew something needed to change, and she decided to go to someone she trusted to help her achieve financial stability and to plan for her retirement.
“I was at my wit’s end when I called Mobile Lending Manager Sharee McNamara. Problems with my investments often left me struggling with paying my own mortgage, which created quite a debt burden and lots of stress.”
“Sharee encouraged me to get some advice from my accountant about exiting my investments, and it was such a pleasant surprise when she followed up about a couple of weeks later to see how I was going. She did this every couple of weeks. Her gentle encouragement and continual support helped me go from being financially unstable to being in complete control, and all in just 10 months.”
Christy has now exited her burdensome investments and is much happier and less stressed about money; she is able to see her weekly financial progress and is going full steam ahead on bolstering her retirement savings.
“I have saved $4,000 in three months, which I have used to pay down my home loan and make extra superannuation contributions, so I can retire when I am 65.”
And what advice does Christy have for others struggling to get control of their finances?
“Stop worrying about it and get help now! Go to someone you trust, get some good advice and develop a workable solution. For me that was approaching Credit Union SA and I haven’t looked back since. I have found that the Credit Union SA team care about their members and are always willing and able help.”
“And if you aren’t a Credit Union SA member – become one! You will always get personalised service from people who actually care; they know their products well and tailor them to suit your needs. You will also find that the credit union products and services on offer are very competitive.”
Phone: 8202 7647
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Sharee has worked in the banking and finance industry for over 20 years across retail banking and lending, relationship management and corporate and business banking. She has been helping members at Credit Union SA as a Mobile Lending Manager since 2013. Sharee is committed to excellence in customer service and prides herself on ensuring that each Member has a positive experience. As a Mobile Lending Manager, Sharee is responsible for assisting members with their home and investment property purchases and refinances, and structuring their banking in the best way possible to provide the right outcomes for them.