I sat down with James at the end of December for our second interview. (Click here for his first interview.) Wave 28 is currently in their 4th month of classes. They have already gone through orientation, two classes with dynamic financial education coach, Mr. Harvey Reid, and a class on tax preparation with IRS representative Carolyn Jones, and EITC coordinator Tim Flavin. The clients have now had the opportunity to start meeting with their success coach, get to know fellow clients, and start their financial literacy classes. I was really excited to meet with James, as the last time we spoke he was not too sure what to expect, but was ready for this new phase of his life, and his drive, determination, and faith was inspiring. With this sit down interview he spoke of the classes and meetings with his success coach, Bianca.
So here you are with round two of “Part II In Their Shoes- The Journey from Renter to Homeowner: Success Coaching and Classes- James”. –Andriana Bicanin
As you recall from the last blog posting with James, he enrolled in the New Century IDA program after years of personal struggles, and decided that he was ready to take the next step in life, and buy a home. He wishes to create a home for himself where his friends and family can come to; he wants to create a home that is reminiscent of what he felt at his grandmothers.
Last time, James said before he entered the program it had “been a long time since anyone truly cared for me to succeed.” With this sit down those words were expressed through the continuous praises for the support, education, and self empowerment that the people at the New Century IDA are providing him.
He explained to me how he understands that the people at ESR and his success coach, Bianca, are there for him if he hits a bump or needs help, but as he progresses with his classes and learns more about saving and money management, he has found that he has the inner resources and capabilities needed in order to succeed. He explains to me that his “need to cling” has dissipated with the education that comes pouring in. By acting on what he has been taught, he is making positive life choices.
An example he gave me was how he now cooks his lunch at home and brings it to work. He also brings soda and water to work with him, and it saves him the cost of a vending machine by $45-$50. Because of these choices, and his sessions with Bianca, he is done worrying about saving the required $75 a month for the program, because he has now found a way to save 135 extra dollars a month! His debt is reduced so much that he isn’t going to have to use his tax refund to catch up on back bills, and has the choice of paying bills off completely, or put it towards his future home. Through the classes and meetings with Bianca, he has found great ideas for cost cutting and savings. He now sees the numbers, and sees the actual spending rather than what he *thinks* he is spending. As he says, it is “Reinforcing the whole reconciliation of expenditures versus savings.” He has learned how to cut out unnecessary items, and save on the little things. He has learned from both Bianca and Harvey that it is not so much how they save, but how much is spent.
Although this is a lot of information to take in, it is coming in a way that doesn’t feel like economics, or a class itself. He enjoys that the information presented to them is done in an understandable way, makes sense, and isn’t overwhelming; but as he quips, “With people like Harvey Reid that’s not hard to do”.
James is very happy with the knowledge he is gaining in the classes. His one to one sessions with his success coach and small group setting has really encouraged growth and understanding. The knowledge he has gained is directly related to Harvey, Bianca, and other economic literacy class presenters. He has not had to make major life changes, he just reduces the amount of items he spend on, and has found ways to cut costs, budget, and save. He tells me that it is “Not about what I want, it’s about what I need. It’s not necessarily more about what I need, but what I can get by with, and feeling positive about that, and accepting that I am reducing my monetary footprint. So that I have more available towards investing.” He explains, “Why pay all this extra to other people when I can be saving my own earnings?”
The group sessions have helped him become more excited and determined towards saving and buying his home. There are three clients, and their success coach Bianca, who sit down and are able to feed off each other, give ideas, and support. It also helps that the success coaches and everyone in the program have been in the same position, if not similar, as he has. They all have the commonality of knowing that each individual is coming into the program from a difficult situation, and through this shared background the teachers are empowering the students to rise above their current situations and take hold of their life. He doesn’t feel like this is a regular school setting, where a “college professor is saying do this, this, this.”
In closing, James passionately and emotionally reiterated, “Don’t give up. The only reason you wont succeed in this program is if you let yourself say no. You can and will. You are not just buying a home; this is another investment for you and your family.”
