Common Cents

 
$125 $39,875
Raised Remaining
Common Cents Class
Common Cents Class

To all of the supporters of the RISE Common Cents Program,

When I look at this class picture, I remember what life was like for me when I first came to RISE.  I cashed my check at the corner check cashing place in my neighborhood because I thought that banks were for people who had a lot of money.  So paying $8.00 a week to cash my check was something that I, along with all of the people that I knew, did without a second thought.

When I got my check, I always paid my rent and then my utilities.  Since my four children needed to have a little fun, I always either took them roller skating or at least out to McDonalds for a nice meal.  By the time I paid for these extras, $50.00 easily left my purse.  Of course, I needed to buy food for the week and by the time I finished grocery shopping, my funds were in a negative state.  I always tried to keep a credit card but when it reached the limit, it was always embarrassing to have your purchases rejected. If my kids were with me, it felt even worse.  I cried inside when they held their heads down and looked to see if anyone they knew was nearby.

When I had enough of barely living paycheck to paycheck, I decided that I needed to do better.  A friend of mine had gone through the Common Cents program and she always talked about how it helped her to not only pay her bills but to start a savings account for emergencies.  So I went to RISE and I clearly remembered being seated in the chairs around tables with other who were learning how they could make better choices with their pay checks. 

The instructor talked to us about short term and long term goals.  This allowed me to dream a little.  I wanted to be debt free first and then try saving for a better place for me and my kids to live.  So my goal was to become debt free and RISE helped me with putting together a plan to reach this goal.  I am proud to say that now three years later, I am not only debt free, but have a checking and savings account  with a job that pays more. RISE helped me to understand that using banks will actually save me money and it’s a safe place for my money to be kept.  One day I want to purchase a home - in a good neighborhood with good schools, but I know it takes time. With my plan – I know I can do it!

Thanks to RISE and the Common Cents trainers, things are really looking up for me.

Karen B.

A Common Cents Class Participant who is still learning

 

With your support RISE can reach more families like Ms. B, who is pictured in this classroom.  We may not be able to actually provide better jobs to those we touch, but we can help them to make better financial choices with the resources they have.

Although our Common Cents program was initially intended to teach financial literacy skills to hourly workers, we have found that the lessons in the classes are applicable to many populations.  Right now, we are proud to be partnering with the Community Alliance for the Homeless to teach valuable financial literacy skills to families who are chronically homeless.

Without the skills and behavior changes necessary to make the best of their income, many of these families will move into new homes, only to be unable to maintain them, and will become homeless again.

RISE has partnered with seven agencies serving homeless families to teach these skills.  We are proud to be nearing our goal of 200 families, equipped with the skills to make the most of their income and live a financially stable lifestyle.

Common Cents is a financial literacy program focused on  helping low-wage workers to make better choices in how they spend their hard earned money.  Recently the facilitated class was offered to a small company in Memphis and immediately the owner, saw his hourly employees keeping track of their receipts so they could actually see how much money they spent on things outside of their household expenses.  To some this may seem like a "common sense" thing to do, but with the invention of credit cards, debit card, etc., purchases are often made with little consideration of how it affects the user's ability to meet essential  obligations (rent, utilities, food for the family, etc.).

One of the Common Cents participants, Ricco saw this quickly, when he added up his first set of weekly receipts and saw that he spend over $50 for  sodas, chips, cookies and other non-essential items in one week.  That $50 could have been used to pay for gas to get him to work each week.  So now, thanks to your support of the RISE Common Cents Program, Ricco is watching what he spends by setting up a  budget that will allow him  to spend no more than $5 each week for items that he can actually do without or bring from home.

Thanks to all who support the RISE Common Cents program and remember, it brings a little" Common Sense" back to money management for folks who really need it like Ricco!  Remember with a small contributions to RISE, it will make the difference in the life of one person who really needs it to make their earnings  stretch to meet the needs of their family!

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Project Leader

Linda Williams

Memphis, Tennessee United States

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