When life happens, this SaverLife member keeps his focus on the future
SaverLife member Sherman recognizes that financial health journeys are complex and unpredictable. “Life’s just going to life,” he explains. But this doesn’t stop Sherman from building toward the financial future he’s planned for himself. Through his work as a middle school teacher, he’s taking steps to strengthen his financial stability, stay on top of student loan payments, and consistently put money into savings. “Financial health to me,” Sherman says, “means building a security blanket just in case life happens.”
Unfortunately, life happened more suddenly than Sherman had planned when he experienced a severe car accident in 2023. He was unharmed, but the accident totaled his car, leaving him with minimal transportation options to get to school. Needing to secure transportation quickly to avoid disrupting his work schedule, Sherman decided to purchase a new car. However, as he began researching vehicles and comparing rates, Sherman realized that he would need his entire emergency fund to cover the costs. This new reality shifted how he had been planning to improve his financial health, leaving him feeling frustrated and disappointed. “The accident shifted my whole universe, because I basically had to go into my emergency fund to purchase another car.”
To start rebuilding his emergency fund, Sherman took on a second, evening job with UPS. This additional income helps him feel more prepared for the unexpected and it accelerates his savings goals. And because Sherman’s sister recently moved in with him to attend college, he’s happy to have the extra cash on hand to make sure she’s comfortable.
As Sherman looks to the future, he knows that education will always be at the center of his goals. He has an unwavering passion for educating and inspiring children, even if it doesn’t bring opportunities to increase his income like in other industries.
To continue taking steps on his financial health journey, he reads SaverLife’s content to learn how to maximize his income and savings. He also visits SaverLife’s member forum to see how others are navigating similar situations like his. “SaverLife provided so many resources that weren’t available to me from the information I was seeking,” he describes. “I went to the website, and the community engagement on SaverLife is very fast. There have been questions I’ve seen posted that I had the same question to. To be able to read that, and hear that you’re not alone and that other people are going through so many situations: having that resource was very beneficial.”
Sherman’s excited for the financial future he’s creating, even if there might be other unexpected challenges along the way. He knows that he’s on the right path, and he’s glad to share his story with other SaverLife members who can use his experiences to forge their own ways forward. Sherman concludes: “Really SaverLife is, it’s building for the future.”
Thank you to Experian for sponsoring this project.
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