Senior Reduces Stress by Refinancing Loans and Creating Budget
Sara is a senior customer who came to me for help because she was overloaded with bills and didn’t know what to do. We created a budget, looked at which bills she needed to work on, and talked about how to adjust for savings. We successfully refinanced her car loan with a lower interest rate, which gave her an additional $100 per month in savings. We also reconsolidated two large payday loans with payments totaling over $800 per month with a loan from Franklin
Mint FCU, which has saved her $500 per month in payments and has given her some breathing room.
At the moment, we’re working on managing her budget so that she can increase her savings and work on paying off her credit card debt. Sara is very grateful that our program was there to help her figure things out and reduce her stress.