Trying to pay down debt? You are not alone.
Eight in 10 Americans are too. So why not get some help?
Money Possible is looking for Wichita area credit union members who want to receive financial counseling, plus learn ways to help pay down your debt.
This campaign is loosely based on “The Biggest Loser” TV show, but instead of losing “physical” weight, participants will lose “financial” weight. And you won’t event have to take your shirt off…
Financial weight? What?
That’s right. Financial weight…the amount of debt people have. The average American is thousands of dollars in debt which includes credit card debt, loans and plain old “I owe Uncle Jimmy $200” type debt.
Who are we looking for?
Ideal candidates have some kind of debt, and don’t mind sharing on local media, social media and this blog.
“Oh no, I don’t want to share my personal financial issues!”
Have you seen what people share on Facebook?
All kidding aside, think of it this way. The majority of American have some kind of debt. We’re all in the same boat. Not only will you be on your way to financial health, you will be inspiring others to do the same.
A group of people cheering you through success or encouraging you through challenges just might be what you need to get your finances under control. And we’re hoping to find three individual or family credit union members, so you won’t be alone in the program.
What you’ll do
You will meet weekly (for 16 weeks) with a financial counselor from the consumer credit counseling service, who will evaluate your current situation and map out your road to success.
Each week you’ll write a blog post…a little something about what you’re doing.
- This could be as easy as “we found out we spend way too much on Cheez-Its, so instead of buying 25 boxes a month, we’ll only buy 10 boxes…which will save us $37.50 per month. We’ll take the money we saved and apply it to one of our credit card debts. In three months we’ll have paid down $100 toward our debt.”
- It could be something you learned about credit reports, or that some debt is actually good debt.
- You could write about a setback you’ve come up against…an unexpected expense and how you are coping with the situation.
- The post could be that you helped your fourth grader calculate the difference between a name brand item and a generic item and how much you will save in a year if you went with the less expensive version.
The ideas are endless…and if you’re stuck, we’ll help provide you with some ideas.
Oh, and there’s the TV element
Some of your sessions will be recorded and your updates will air on a local TV station. Don’t worry, we won’t share your confidential information or even make you talk on live TV (unless you really want to). You might be interviewed for brief segments, but you’ll be talking about yourself, which you’re already an expert on, right?
When does all this start?
You will begin your sessions in mid-February and continue through mid-May. The TV campaign will air March through mid-June.
So…are you up for it? Visit your Wichita area credit union for an application form. But hurry, they are due back to the credit union on December 20. Selected participants will be notified in mid-January.
The campaign is a partnership between Wichita area credit unions, the Kansas Credit Union Association and the Consumer Credit Counseling Service.
Follow along on twitter: #moneypossible
For questions, contact Melissa Baptista, (316) 942-7965, ext. 3016.