Save Up Program

Tamika believes her shift to a more positive perception of life has led to a more joyful reality and RISE was key in that transformation. By focusing on the moment Tamika is continuing to RISE, even though it may not have always been the case, her daily walk is filled is thanks and gratitude.

Tamika heard about RISE’s Save Up program at a resource fair held at Department of Human Services, where she formally worked.  Tamika was looking to make a change in her life financially. She had a budget, but wasn’t receiving the outcomes she knew she should. It wasn’t until she came to RISE and learned how to develop a spending plan that she able to see on paper where every penny of her income went.

Tamika says that another aspect of class that impacted her life was creating a vision board, a critical piece of the class. Designing the vision board helped her visualize a clear purpose for her life and she keeps it as a daily reminder of what her intentions are.

Tamika is focused and determined. She used her RISE match funds to pay for her college tuition. She says the money from the Save Up program will allow her to graduate a year earlier as she continues to learn and live a debt free life. Tamika learned that you should take life one day at a time and you can accomplish what you desire and she reminds herself daily to not focus on what tomorrow or next week holds, but to focus all energy doing the best she can today.

Please consider contributing your resources and support RISE as we transform lives! An investment in RISE is an investment in the future of Memphis.  We have proven that it pays dividends to give people the tools they need to become and remain self-sufficient rather than pay for social services that only treat the symptoms.  When the cycle of generational poverty is broken, we all win in terms of decreased crime, increased productivity, lower healthcare costs and more engaged citizens. 

Families that enter the Save Up program must first complete a six module course in financial skill building. The facilitated classes are geared to help the head of household prepare the family for the assets that they plan to purchase at the end of the program. When the entire family is not involved, it makes it difficult for the ‘breadwinner’ of the family to make sound financial choices.  For example, when a low income family is saving for a home, it is important for the children to be involved.  They must realize that saving money for up-keep on a house is just as important as saving to make the first down payment.  When everyone is involved in setting the goal, children are excited about having something that belongs to their family and are usually willing to help with the savings as well.

As in the case of Erika, who completed the financial classes provided by RISE and wanted to save to purchase a home for herself and two children.  She wasted no time in sharing with the family what Save Up was all about, as well as including them in deciding the family’s asset goal.  Needless to say, the family was excited about the idea of finally having a home with a back yard. 

After every class, Erika sit down with her children at the kitchen table and discussed what she learned.  The kids even helped with some of the homework assignments – especially the ‘Dream Board’ that Ericka had to present to her fellow classmates.  They even discussed the credit report and how important it is to pay bills on time and checking to make sure that the Credit Bureau has good information about their account history.  So, it was no surprise that at the end of the six weeks, the entire family wanted to attend graduation.  The children along with Erika were proud of their first steps in meeting their family’s goal of purchasing a home.

Erika will be successful, as she works over the next eighteen months to two years to reach her asset goal – she has the whole family working and looking at ways to make good financial choices. They all realize that their family’s successful participation in the Save Up program is a Family Affair.  A Family Affair that will lead to financial habits to reach more asset goals in the future!