Eileen, a resident of National CORE’s Corona de Oro community, solidified a plan to decrease her debt and leveraged $1,200 in savings to collect $1,200 in matching funds — all thanks to skills she and 33 other National CORE residents gained from Hope through Housing’s Money Match program.
The Money Match program, part of Hope through Housing’s Pathways to Economic Empowerment program, teaches residents about financial stability, education and literacy while providing a 1:1 dollar match for residents who open and maintain savings accounts.
This October, 34 successful graduates of the program earned $1,200 each, augmenting their savings by a whopping $40,800.
Eileen attributes her success to the program’s teachings about self-control, particularly about avoiding spending on “retail therapy” for stress relief. Instead, she’s looking forward to financial stability and the day when she can use her savings to buy a tablet to start her writing career.
“At first, it was hard to set money aside, as I was used to living check-to-check each month,” Eileen said. “Now I have the confidence and discipline to increase my savings each month.”
Since its inception in 2021, the Money Match program has challenged residents to boost 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 supporting grants, making it one of National CORE’s most selective and sought-after resident programs.
Through virtual workshops and in-person assistance from Economic Mobility Specialists Heidi Reyes and Leslie Almanza, the program has inspired more than 80 residents to change their financial habits.
Lisa, a Cape Cod Senior Villas resident, said she’s excited to finally have an emergency savings fund thanks to the Money Match program.
“Thank you to Pathways to Economic Empowerment and National CORE for providing me with the Money Match program. I felt so purposeful, successful and secure as I watched my savings grow during this program,” Lisa said.
“I intend to continue to save every month now that I have proven to myself that I can keep a budget. This has been a valuable lesson for me. Thank you again for this wonderful program.”
The next Money Match program is scheduled to start in early 2024.