The economy may be unstable, but the Save Up program is continuing to work with low-income families in Shelby County to make the best choices possible with the limited resources they have. Since January, 2013, RISE has graduated 23 program participants who are now in the savings component of the program. These families all have the goal of purchasing an asset like a home, car, computer or funds for education (so that they can compete for job opportunities that will increase their earnings) as well as to purchase additional assets after RISE provides assistance with the first asset purchase.
Everyone who enters the program wants to purchase a home, but after they complete their financial education portion of the program, they realize that a home is not what they should set for their first asset goal. Just like Mr. Myron, who was having difficulty getting to work and had opportunities for other jobs but because he only had access to public transportation, he was unable to work the schedules that employers needed or to even work in the outlying areas of the county where public transportation is not available. So, purchasing a car through the Save Up program became the first asset goal for Mr. Myron. Having his own car was empowering for Mr. Myron because he could then work flexible hours, as well as transport his two children to the homes of relatives and friends when child care services were needed. Having a car also allowed him to lower some of his monthly expenditures because he paid neighbors and friends to take him grocery shopping and to medical appointments for his family.
Mr. Myron is proud to have affordable transportation for his family and now he plans to increase his earnings and continue his savings so that he will be able to purchase a home within the next few years! Through the skills and techniques that Mr. Myron learned at RISE he is confident that he will be able to continue to meet his future asset goals. . .one goal at a time!
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