IDA Alumni Stories: Dierdre Davis

My name is Dierdre Davis.  I am a 2004 graduate of the IDA PROGRAM.  In late 2002 I was told about a program that ESR had that would provide assistance for home ownership.  Being a single mom of two boys I knew I wanted to have a home for us, where they could run around like boys do.  After inquiring about the program it seemed to be something that I could benefit from so I enrolled.  At that time I only thought that it was something to help me with the down payment on a home for me and my boys but I got much more out of the program. 

The financial literacy program was an asset to me and I continue to keep what I learned at the forefront of my mind.   I found out that before you purchase a home there were other things that needed to be in order; that it wasn’t just about having a monthly income to pay the mortgage.   I learned that in order to be a successful homeowner there were steps that I had to take to get my finances in order.   Those sporadic trips to the shopping mall or out to eat had to be limited.  To help keep me on track me I taped a picture of my dream house to my favorite credit card.  Every time I pulled it out I would see what I was possibly giving up.  I learned to track every penny that I earned which helped me to really understand how much house I could afford.  

Having the support of my Success Coach, Mrs. Bianca was great because she was with me every step of the way and gave me a lot of encouragement.  Because I was serious about what I wanted, I went into the class wanting to learn.  I definitely got more out of it than what I was expecting.  I feel that the financial literacy program is something that is very much needed and I encourage all the people that I know who plan to purchase a home to look into this program.  If you are educated about preparing to purchase a home and how to keep it once you purchase it, you have a win-win situation.