YWCA Miami

Women's Empowerment & Security Testimonies

Money Management Testimony


 

 T.S. joined our program wanting to learn about money management but without a clear sense of wanting to save for an objective, or putting into practice what she had learned. By the end of the seven week cycle T.S. had an objective, a plan, and she had started to implement what she learned in the classes in her personal life and finances.

By the time the “big crisis” hit upon all of us, T.S. says she had examined all her accounts, paid off the ones that she was able to, reduced others such as cable based on real usage, put her FPL account on a steady monthly payment, and had a family reunion where she explained what her short and medium term plans were and asked for the cooperation of her children.

Based on a seminar she attended as part of the IDA requirements T.S. opened several accounts with specific goals. One of the accounts is to help her elderly mother (according to T.S. her mother is not a good money manager and thus she needs help), another account is for her children’s wanted items, one for Christmas, etc. T.S. says that organizing accounts this way helps her to keep her spending in line with her objectives, and taking all the steps that she learned in the classes made the economic crisis almost negligible.

Over the time it took to complete the IDA savings period T.S. had incorporated to do business, had written a very good business and marketing plan, signed a lease in a well located office building and started to work jumping ahead of the crisis and her competition. Because in part her business is seasonal she made sure to be in her new office a couple of months ahead of the busy season, so she can iron out any problems before they become an impediment to conduct her business.

T.S. is so enthusiastic about IDA that she started a group at her church to spread the information that she learned in the classes and seminars. She has offered to come and talk to our new participants, has referred many individuals to the program, and has distributed some of our materials at her church meetings as well as her networking meetings. T.S. strongly believes that everybody, and particularly women, should take financial literacy classes so they can learn how to mange their lives not only their finances.   >> Learn more



Money Management Testimony