I didn’t learn about budgeting or how to save properly until I participated in WANDA.
As a single mother of two, I worked hard to provide for my kids while also helping care for my own mother. I first learned about WANDA in 2018 while I was working part-time, attending school part-time, and living in an apartment with three other women. When I heard about the matched savings program, I couldn’t believe it. Although I was skeptical (because it sounded too good to be true!), I was interested enough to learn more and applied.
During the WANDA program, I quickly gained allies in the women who were in my cohort. Listening to their stories and struggles, I no longer felt alone in the challenges I faced as a single parent. We shared tips and swapped tricks that worked for us when it came to raising our children and making ends meet in the Bay Area. It was a relief to know I was not the only one.
I grew up in a poor family, and we were focused on making ends meet day to day. I thought that saving money was only possible when you had a lot to save. WANDA changed that. I learned you can start small, and just $25 a month will grow over time. I had been stuck living day to day for so many years, I never thought to plan for my future. The program allowed me time and space to think about life’s uncertainties, like losing my job or getting sick, and plan for the unexpected. This future planning literally saved us when my mom and I were in a serious car accident two years ago. After the accident, I had to stop working in order to care for her. My savings helped us get by and helped cover our expenses for a whole year. This experience proved that my savings weren’t just numbers in an account; they were security when my family needed it most.
I shared everything I learned from the program with my children, who are now 26 and 24 years old. I’ve watched my daughter grow into a thoughtful and responsible saver. She saved to buy her own car and even considered how to build her credit history through a low-interest-rate loan. She even sets aside money for emergencies for her dog! My son has taken financial classes at college, and I’ve noticed him cooking more at home instead of ordering out. They are different people with different spending habits, but they both have the knowledge to make responsible financial decisions for their futures.
Now that my mom has recovered from the accident, I’m focused on building back my work hours and my savings. In five years, I hope to be able to pay off my car loan and maybe even buy a property outside of the Bay Area that I can retire to, while continuing to save and contribute to my Roth IRA.
When I meet other single moms, I always tell them about WANDA. Most don’t believe me when I explain the matched savings program and the community of supportive women they’ll meet. But one woman did. I attended the WANDA graduation ceremony a few months ago, and I was so proud to watch her be honored for accomplishing her goals. I’m so thankful I applied and completed the program.