We help everyday people build an abundant, lasting financial legacy for present and future generations; and it all starts with an emergency savings fund. It is critical for everyone to build and maintain an emergency savings fund, and it’s one of the very first steps toward financial health and wellbeing. Yet as Americans, we’re in a tight corner. The Federal Reserve reports that if faced with an unexpected $400 emergency expense, 48% of us either could not pay the expense, or would have difficulty doing so! We’re counteracting this troubling trend by moving Kent County families toward asset-building through our 500 Strong initiative. The goal is to invite, encourage and equip 500 households to build an initial emergency savings fund of $500. Simply put, over the 17-week program, you’ll contribute $25/week or more to a savings account, totaling $400; and then we match $100 at the end, to total $500. Each week, we support you with 15-minute, group Zoom check-ins and empowering content to support your savings strategy. No brainer, right? Who wouldn’t want to save $400 and end up with $500?
- Develop a mindset to save for emergencies and for future purchases
- Make saving a normal practice
- Avoid payday loans and other predatory financial products and services
- Increase your use of traditional financial institutions (banks and credit unions)
- Inspire others in your circles of influence to save!