Wakeland Partners With EARN to Help Residents Get into the Habit of Saving
January 15, 2015
Sixty Wakeland residents successfully completed a new banking incentive program that teaches people healthy savings habits. Each of the participants in the EARN Firefly program opened an online savings account that rewarded them with $5 to $10 for each month they deposited at least $20 over a six-month period. At the end of the program, all 60 residents had reached their goal and saved at least $20 per month.
"When I first started the savings program I didn't have any idea how to manage my money,” said Maria Mahrer, a resident at Wakeland’s Vista Terrace Hills community. “Throughout these six months I have learned how to budget and pay closely attention to my spending behavior.”
For some Wakeland residents, the EARN program brought benefits beyond the money they saved.
“With this program, I realized that I can accomplish my goals,” said Del Sol resident Maria Montelongo. “The whole idea of savings has gotten me more focused on finishing my school and increasing my income to save more."
Wakeland is the first organization in San Diego to participate in EARN’s savings program. The next batch of Wakeland savers will start their accounts early this Spring, and this time we expect at least 200 residents to sign up.
Sixty Wakeland residents successfully completed a new banking incentive program that teaches people healthy savings habits. Each of the participants in the EARN Firefly program opened an online savings account that rewarded them with $5 to $10 for each month they deposited at least $20 over a six-month period. At the end of the program, all 60 residents had reached their goal and saved at least $20 per month.
"When I first started the savings program I didn't have any idea how to manage my money,” said Maria Mahrer, a resident at Wakeland’s Vista Terrace Hills community. “Throughout these six months I have learned how to budget and pay closely attention to my spending behavior.”
For some Wakeland residents, the EARN program brought benefits beyond the money they saved.
“With this program, I realized that I can accomplish my goals,” said Del Sol resident Maria Montelongo. “The whole idea of savings has gotten me more focused on finishing my school and increasing my income to save more."
Wakeland is the first organization in San Diego to participate in EARN’s savings program. The next batch of Wakeland savers will start their accounts early this Spring, and this time we expect at least 200 residents to sign up.