You can help Veterans and parents learn the financial literacy skills necessary to achieve long-lasting and life-changing goals to break the cycle of homelessness and poverty!
Doug and his two young sons entered New Ground’s Long Term Housing Program after being in a family shelter for a few years. They became homeless when made to leave their rented room and could not afford rent for any other apartment. When he entered New Ground, Doug had large debts with a credit score in the low 500s, and budgeting was a struggle.
Rehabilitation of Doug’s credit and finances were critical for his long term success. Following intensive financial literacy work with his Social Worker over a few years, his credit score reached almost 800 after paying down over $8,000, he was debt-free with a checking and savings account, and he was managing his budget successfully.
In addition to improving his finances, while with New Ground Doug increased his education and earning potential, which all together allowed him to secure a new career and a significantly better paying job. Today, Doug has an apartment for his family in the neighborhood of his choice.
The Troy & Ann Baydala Financial Literacy Service Program
Homeless Veterans and families struggle to maintain a budget or pay bills on time, suffer from bad credit and large debts, and need to get their finances on track.
New Ground Social Workers help clients with:
- Financial Goal Setting: setting personal financial long- and short- term goals, creating action plans to meet these and tracking progress.
- Budgeting & Savings: developing and maintaining a budget within household income levels, creating and initiating a savings plan.
- Debt Management: crafting a realistic plan to pay down debt while managing other bills, assessing critical needs from wants, and tracking and evaluating spending to improve overall financial health.
- Credit Reporting & Repair: learning how to access, review and understand a credit report, what impacts a credit score and how to dispute incorrect credit information as well as build credit and increase scores.
- Banking: evaluating best options, establishing and maintaining bank accounts.
- Identity Theft: protecting credit, preventing identity theft and taking necessary steps when already a target.
The Baydala family are long time supporters of New Ground and they chose to memorialize their parents, Troy and Ann, with a major gift to New Ground.