Fernando, a resident at National CORE’s Legacy Square community, is now $1,200 closer to a new car thanks to Hope through Housing’s Money Match program.
The Money Match program, part of our Pathways to Economic Empowerment initiative, guides residents to financial stability and literacy while providing a 1:1 dollar match to their savings accounts.
In October, 28 graduates of the program each doubled $600 in savings gathered over six months, turning $16,800 into an incredible $33,600.
Fernando credits his success to the program’s advice to practice spending discipline and treat savings as an expense. He looks forward to contributing more toward his savings and, ultimately, toward his future.
“This program has really sparked my interest in saving,” Fernado said. “Before I started, I was living paycheck to paycheck and spending every little bit that I had. Now, I set some money aside and I feel better knowing that I’m closer to my target.”
Since its inception in 2021, the Money Match program has invited residents to augment their savings over the course of six, 12 or 18 months until they reach their goals and build new financial habits. The program is funded through a series of grants, making it one of our most selective and sought-after resident programs.
Through virtual workshops lead by our partners at Chase Bank and in-person support provided by the Pathways team, the program has encouraged more than 100 residents across Southern California to strengthen their financial habits.
“Financial journeys are a lot like driving – if you don’t know how to drive how can you teach your children?” said Joseph, Chase’s financial literacy coach. “The collaboration between us and Hope through Housing is creating healthy generational habits within our communities.”
Patricia, a Metro View resident who used the program to build her savings account, emphasized the importance of teaching future generations the value of saving to create a better future and break the cycle of poverty.
“Having the tools and the knowledge has really brought me this far and I am very thankful,” Patricia said.
The next Money Match cohort is set to begin in 2025.