Austin: Helping families achieve financial stability
Many families are working one, two or three jobs, but they are still struggling to make ends meet. Financial stability is not a simple, one-step process. Family-sustaining income is a cornerstone of financial stability: the key to paying the rent or the mortgage, putting food on the table, and affording child care and transportation. It is also the springboard to longer-term asset-building strategies, such as saving to buy a home or a car, sending kids to college, and saving for retirement.
Here are some resources right here in our community that can help residents improve their financial situation:
THRIVE Network is an innovative collaborative of several local nonprofit partners working together to provide an opportunity for hardworking, financially-struggling individuals and families throughout Madison County. Participants in the program receive personalized coaching and support to help them obtain good jobs with good wages, and learn financial skills that can lead to long-lasting financial improvements for themselves and their families. Enroll in the program at www.unitedwaymadisonco.org/thrivenetwork or call the Anderson Impact Center at (765) 356-9497.
Indiana’s Individual Development Account (IDA) program helps low- to moderate-income working families attain their financial goals. Qualified participants set savings goals and make regular savings deposits. Every dollar they save is matched up to $4,000. Participants can then use this money to:
- Purchase a primary residence located in Indiana
- Expand a small business located in Indiana
- Obtain an education or job training
- Make essential repairs to owner-occupied housing
- Purchase a vehicle for employment, education or job training purposes
Selected participants must complete one-on-one financial counseling and financial education training covering topics such as budgeting, saving, credit, banking, taxes, and other money management strategies. For more information or to see if you are eligible, please contact PathStone Corporation at (765) 286-2162 or Transition Resources at (317) 392-2036.