Save Up Program

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!