Last May, Jenna Bel and her two daughters moved into their very own home. They haven't had a chance to arrange the furniture or unpack their boxes yet, but Jenna has already decided on her favorite room.
"I love my laundry room," exclaims Jenna. "I know it seems silly, but I'm really excited about it!"
Jenna recently purchased a new home with the assistance of United Way of King County's Individual Development Account (IDA) program, a matched savings program that allows people to become investors and build savings for buying a house, going back to school or starting a business. This brand new Habitat for Humanity home, which Jenna helped build, is a dream and a personal goal come true.
When Jenna's marriage ended six years ago, she became her children's primary supporter and caregiver. The three of them had to move often to remain in affordable, subsidized housing. Jenna felt frustrated by the lack of control and continuity in their lives caused by the frequent moves. Growing up she had lived in the same house and attended the same schools. Years later she still keeps in touch with her childhood friends and she wanted the same for her girls.
Fortunately, Jenna found out about United Way's IDA program and decided to participate. She attended IDA classes on personal finance, credit reports and the home buying process at Hopelink, a United Way partner organization. These classes helped her become financially stable and prepared her for homeownership.
"I feel empowered now," said Jenna. "It's great to know that if you want to help yourself there are tools out there to make your life better."
To be economically secure and avoid becoming homeless, families need both income and assets like a home. People who are financially stable are less likely to become homeless, less likely to rely on public assistance and more likely to contribute to the community. That's why United Way of King County develops and supports strategies like the IDA program that enable people to become financially independent.
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