What Dream Are You Saving For?
Special savings programs and financial coaching combine to give dreamers with lower incomes a pathway to their goals. This article, “Individual Development Account Programs Help Low-Income Families Save for the Dream,” is part of an excellent resource “How Housing Matters.”
Here at Piedmont Housing, we administer the Virginia Individual Development Account (VIDA) Program with 40 participants who are saving something every month, with each dollar matched with 2 dollars from the state, towards home ownership, education, or a business. Savers get access to individual financial coaching and group financial education. For a number of savers, their $2,000 became $6,000 and their dreams came true: they paid for education, bought their first home, started or expanded a business. What inspires you?–KR