The first graduates of the Savings Match Program at Open Doors’ Financial Opportunity Center (FOC) celebrated their successes on Friday, July 22.
Each client works with FOC financial coach Eddy Agyeman to create a plan with their budget to save at least $400 over six months. Open Doors initially planned to match each dollar saved, but with increased inflation, the nonprofit raised its match to 1.5 for each dollar saved. Participants in the program also learned better money management skills and strategies to reach other financial goals.
The savings match program aims to help participants build better financial habits like budgeting, increase savings, build credit and eliminate debt. The program launched in January and offers rolling enrollment.
Learn more at https://www.thehour.com/news/article/How-Norwalk-group-is-helping-people-in-need-build-17325443.php and https://connecticut.news12.com/open-doors-shelter-s-saving-match-program-helps-people-learn-about-money-management.