When Ms. Tee entered the Save Up program in Memphis, Tennessee; she had been dependent on government housing subsidies for 13 years. She was tired of paying rent for something that could she could never call her own. She also wanted a nice place to raise her daughter, in a safe neighborhood. So, when she heard about the RISE-Save Up Program, she felt that this was "a blessing sent from heaven".
Ms. Tee attended the financial education classes offered by RISE, and immediately started saving $75 each month until she reached $1,000. This allowed her to receive $2,000 from RISE ( with the 2 for 1 match) to purchase that home that she had dreamed about for so long. While saving, she also attended a home buyers education class, as suggested by RISE; to prepare her for home ownership and to know the in's and out's of working with a realtor, mortgage company, etc. So when Ms. T looked at several houses, she knew the 3 bedroom, 2 bath home in East Memphis was going to be her forever home. As she looked at her spending plan, with the purchase of this home, her monthly housing costs would only increase $185 a month. She realized that she could afford this increase and still have enough to pay her self each month (save). She would move from being a recipient of services provided by taes to becoming a tax payer. No more government subsidies for her!
Ms. Tee is still employed full-time and continues to be careful with her budget and spending habits. She is also passing these skills on to her daughter so she can develop healthy financial habits and someday acquire her assets to pass on to her children.
Thank you for your support in helping us to help families like Ms. T, as we fulfill our mission of empowering people to become self-sufficient by building and sustaining human and financial assets.
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