Living Paycheck to Paycheck, to new Homeowners - 101 Success Story

5 Nov 2019 · 2 min

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2:15

In this testimonial, Latay from Salt Lake City shares how her family was living paycheck‑to‑paycheck while expecting their fifth child and residing with her parents. After discovering the 101 Financial program nine months ago, they learned budgeting strategies and money‑management techniques that enabled them to purchase their first home just six months after joining. Latay emphasizes that the financial education she received has empowered her to teach these skills to her children and even to her parents, who immigrated from a small South Pacific island and worked multiple jobs. She notes the profound impact of homeownership on her family’s stability, relationships, and sense of ownership, highlighting the shift from paying rent to building equity while still having discretionary funds for family activities.

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My name is Latay. I'm from Salt Lake City, Utah, and 9 months ago is when I heard about 101 Financial. At the time, my husband and I were living with my parents and were expecting our 5th kid, and we were living paycheck to paycheck, sometimes not even making it to the next check. And so I realized this wasn't a happy place for us. It wasn't something that I wanted to continue. And so from 101 Financial, we learned how to budget and work with the money that we did have. And it's helped us so much that we were able to purchase our first home 6 months after joining the program. And so I know that I've learned tools and techniques that I am excited to teach my kids and also to even teach my parents, 'cause they didn't know about any of this either. So the program has definitely helped my family full circle. So financial education from 101 Financial is such a big, crucial deal in life. My parents are both from a small island in the South Pacific, and since they have moved here, they have always worked multiple jobs. My dad, we hardly seen him because he was always working. But since I had engaged in 101 Financial and have shared with him some of the tips and things that I have learned, he tells me all the time that had he learned this sooner, He could have had some relief way back then versus just now in his older years. After purchasing our first home, I will have to say that it has helped our family grow tremendously. The relationship that I have with my husband and with my kids, we love having our own space and knowing that our monthly payment is going to us. It's not, you know, just being given to rent or to a landlord. Also, we have a sense of stability that we know how to handle our money to where we can still pay our mortgage and still have funds left over for fun stuff to do as a family.