INDIANA – The Pathfinder HomeOwnership Center is doing amazing work to help Hoosiers achieve their dreams of financial independence through the Individual Development Account Program (IDA).
IDA gives Hoosiers with moderate to low income the opportunity to achieve economic stability and acquire financial literacy by supporting them as they save for a major purchase. Participants receive three dollars for everyone they save to help them achieve their goal of owning a home, attending college or trade school, purchasing a vehicle, expanding their small business, or making significant home repairs.
Through the IDA program, up to $1500 in savings can be matched. Recently, Pipi Light moved into her own home thanks to the IDA Program’s matched savings account and the important knowledge she gained from the counselors at Pathfinder. While the matched savings component of the program is a huge benefit, the educational piece is also key.
“The counselor from (the) IDA Program helped and guided me through the process of buying a home,” said Light.
Light feels the program helped her understand and begin saving on a regular basis, manage her money with more confidence and feel financially stable and self-sufficient. Now Light creates a monthly budget to ensure she lives within her means.
