MEMPHIS, Tenn. — “It made me feel wonderful because I never thought I was going to be able to do it being a single parent. It was something that made me smile because I was able to call something my own,” said Arieale Munson.
A graduate of the Save Up program, Munson recalls the moment she got the keys to her first home. That dream was made possible in part by the good people at the Rise Foundation, an organization that empowers low-income workers to become self sufficient through financial literacy programs. They provide tools and incentives to help families build assets and make better financial choices.
“A lot of us don’t grow up learning information related to financial literacy across the kitchen table. For those who don’t, we have to learn by trial and error,” explained Senior Program Manager Rob Lomax. “Our goal is to help people take those first steps toward economic empowerment.”
The Save Up program will match each dollar saved with $2, tripling the person’s savings.
“So in that program, you can save up to $1,000 and they’ll give you $2,000. So that’s $3,000 that can go towards a home, an asset,” explained Munson.
While you’re saving each month, you’re also attending financial education classes along with homebuyer education workshops, all free of charge.
“We don’t want people to have to dig themselves out of holes constantly,” said Lomax. “Taking someone from point A, B, C as far as knowing what to do and how to use their money, I think that Is far more powerful.”
When your financial knowledge spans generations, everyone can be successful. That’s why our anonymous donor wanted to give the Rise Foundation $1,000. They’re a true Community Changer.