PATHWorks Newsletter: July 2022
Success Story - Employment - Finances - Asset Building - Community Events - Housing Works Updates - Resources
|
|
Congratulations Kayla W. New Homeowner!
In 2016 and at the beginning of 2017, Kayla and her children were homeless. Thankfully, they had a temporary roof over their heads living with her mom. Kayla received the Housing Choice Voucher and was able to secure a home to rent for her family in April 2017. Now that Kayla had stable housing, she was able to think about her future and what she wanted for herself and her kids.
Kayla joined PATHWorks in December 2017. Kayla identified her goals and knew the steps to accomplish them. What Kayla was looking for when she joined PATHWorks, was an accountability partner, and someone to help her navigate the resources and tools to help her stay on track in achieving her goals. She had some obstacles to overcome but was determined to move forward. The first obstacle holding her back was not having a driver's license. Right away she got to work and paid off her fines for her past driving violations. That effort allowed her to get her driver's license back.
Another goal of Kayla's was to increase her credit score and decrease her debt to work towards her ultimate goal of becoming financially self-sufficient and buying a home. After some research, and conversations that included a review of her credit report and budget analysis, Kayla decided the best route for her to take to accomplish this was to file bankruptcy. Once the bankruptcy process was finalized and discharged, she worked on rebuilding her credit. She started a Credit Builder Loan and was later approved for credit cards that she managed responsibly. Around this time, she also started saving in the VIDA 3:1 matched savings program to save for a down payment to help reach her homeownership goal. She then completed the required financial and homeownership education courses during her VIDA savings participation.
In addition to improving her financial capabilities, Kayla knew she needed to increase her income. Again, Kayla knew that she wanted to earn a college degree in the field of computers and IT as that is what she identified as a field in which she could earn a living wage. She enrolled in Central Oregon Community College (COCC) and majored in Computer and Information Systems. As part of the program requirements, Kayla interned in the IT department with the City of Redmond in December 2019. Kayla graduated from COCC in the Summer of 2020 with her Associate of Science Degree. Her internship experience and the degree she earned led her to be hired as a full-time IT Specialist in November 2020 with the City of Redmond.
During this time, there was an increase in household income and Kayla was eligible to graduate PATHWorks in May 2019. Kayla and her husband then released all their housing assistance in October 2020. They didn't stop there though. They went on to achieve their ultimate goal of homeownership and bought their new home in February 2022 using her VIDA program funds for the down payment and closing costs.
Kayla's story is an example of someone who meets and overcomes challenges and obstacles along the way to achieve her goals with the determination and willingness to do the hard work that sets you up for success. She went from homelessness to homeowner by getting her finances in order and earning a college degree that led to a living wage job. With the support from her husband, community and her PATHWorks coach, Kayla shows us a path to success.
Congratulations Kayla on all your hard work and how far you have come! Way to go homeowner!
Check out the Stories of Transformation video below to hear more about Kayla's story as well as others in the PATHWorks program. |
|
Is the PATHWorks program for you? Check out the Housing Works PATHWorks video to learn more.
|
|
Planning for a Lifetime of Career Success
You will spend a significant portion of your life working; therefore, it is important that you have a plan in place for your long-term career success. The average American works 90,000 hours over their lifetime. So, taking the time, and making the effort to identify what type of career you would enjoy is a critically important step. You can develop your career plan when you are still in school, first entering the workforce or anytime during your career journey.
A good place to start is to ask yourself quality questions. Listed below are a few examples to get you thinking.
- What type of income do I want to make?
- Is that level of income considered a living wage in the area I live? Not sure, check here: https://livingwage.mit.edu/
- What type of careers offer wages in the amount I want to earn?
- Am I interested in working in any of the careers that offer that wage?
- Are those types of careers available where I currently live?
- Am I willing to move if that employment doesn’t exist where I live?
- What skills or education do I need to enter a career field that excites me and provides the income I want to earn?
Every one of these example questions lead to more questions, so it is a good idea to take your time and work with a mentor, career guidance counselor, or employment professional. A great online resource to help you answer your questions and more is https://www.qualityinfo.org/. This site, provided by the Oregon Employment Department, has a wealth of career information and resources.
You most likely won’t earn your target salary when you first start out, so your plan should include career path planning within your field of choice. Identifying the career advancement opportunities in the field or organization you choose will help you create your long-term plan. For example, if you start out as a Certified Nursing Assistant 1 (CNA1), your path to a living wage salary might include earning your CNA2 certification and then earning your Registered Nursing Degree.
There is a lot that goes into finding the right career, but it is much more difficult if you don’t know where you want to end up. The main idea here is to do your research and reach for a career that interests you. Your plan should include some flexibility as life can present you with different opportunities along the way. If you don’t have a career plan, you might find yourself on a path you didn’t choose.
If your going to work 90,000 hours in your lifetime it’s up to you to decide how you would like to fill those hours.
|
|
 |
Apps to Help You Save and Track Your Money
One of the best ways to track your money in order to stay within your budget is to use an app. These days, so many of our transactions are handled digitally, which means it can be hard to tell how much money you really have available to spend. This confusion can lead to overdrafts or late fees and limits us from optimizing our finances to our advantage. A well-managed spending and savings plan creates space for you to reach your financial goals. Saving money takes discipline and commitment. This is where technology can be used to help automate your savings and provide support to keep you on track.
There are several apps that you might want to explore to help you save and track your money. A quick internet search will bring up several options, so do your research before jumping in. Be aware that some of the apps charge a fee and some offer FDIC insured savings. Here are a few apps you can start with:
Whatever method you choose to save and track your money, whether you choose to use an app or not, there is no better time than now to start saving for a stronger financial future.
NOTE - We do not endorse or recommend any of the products listed in this article. They are used as examples only. It is your responsibility to research and select a product that is right for you if that is your desire.
|
|
|
|
529 Savings Plans
One tool to help with educational expenses is a 529 plan, A 529 plan is a tax-advantaged savings plan designed to help families save money for future educational costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions.
There are two types of 529 plans: prepaid tuition plans and education savings plans. All fifty states and the District of Columbia sponsor at least one type of 529 plan. In addition, a group of private colleges and universities sponsor a prepaid tuition plan.
Contributions to a 529 plan go into an investment account. Once you open an account, both you and others, such as family and friends, can put money into it. Funds from a 529 plan can be used to pay for qualified expenses at private colleges, public universities, community colleges, graduate schools, and trade schools. Also included are tuition and fee expenses for elementary or secondary public, private or religious school.
Research by the Center for Social Development at Washington University in St. Louis shows that starting to save for future education early in a child’s life increases the likelihood that the child will later attend and complete post-secondary education. These 529 educational savings programs build on the idea that asset accumulation is important to consumers who are attempting to achieve long-term financial goals. Post-secondary education can lead to higher wages and greater financial capability to pursue those goals.
For more information about 529 plans, check out the following links:
|
|
|
|
|
|
Summer Meals
The Summer Food Service Program, also known as "Summer Meals", is available in hundreds of communities throughout Oregon, offering free meals and snacks to ALL kids up to 18-years old. Community summer meal programs are open to all families without paperwork, income verification, and regardless of immigration status.
|
|
Summer meal programs may serve a combination of breakfast, lunch, snack, or supper. To receive a meal, kids can just drop in during a site's designated meal times. Many programs also offer fun activities so kids can stay active and keep learning.
There are several ways to find meal sites in your area.
- Call 2-1-1 and an operator can help you find a site in your area and provide you with information about that site.
- Text "Food" or "Comida" to 304-304; you will be prompted to enter an address and will be texted back a list of sites near you
- Use the USDA Meals for Kids Map following the instructions to search for information about sites within your selected area.
|
|
|
Ariel South Preservation Making Great Progress
Ariel South Apartments is a 96-unit affordable workforce housing development in Bend that is undergoing an extensive rehabilitation designed with long-term sustainability as a primary focus, using integrated solutions for energy efficiency, health, and comfort. Built in 1978, the property sits on slightly over 5 acres and is comprised of 12 residential buildings, two laundry buildings, and a community room building. When completed, the rehabilitation will substantially change the exterior façade of the buildings, improve accessibility on site, and provide much needed improvements to aging building components that will increase safety and livability. Interior units are being refreshed with updated LED light fixtures, countertops, sinks, low-flow faucets, toilets and shower heads, energy star appliances, packaged terminal heat pump for heating and air conditioning, flooring and paint. In addition, the outdated popcorn ceilings are being removed.
Housing Works was awarded funding from Oregon Housing and Community Services along with additional bank financing by WaFD Bank to complete the upgrades. This new infusion of funding will cover the costs of the development and will actually reduce residents’ rents. The use of efficient technologies that reduce the consumption of water and power will minimize expenses that are generally out of the control of the owner, preserving long-term affordability.
Pinnacle Architect designed the updates and Pacific Construction and Development is the general contractor. Construction began in March 2022, is roughly 25% completed and is expected to be fully completed by May 2023.
|
|
|
|
"Porting" with Your Voucher
Did you know that the Housing Choice Voucher (HCV) Program is a federal program available nationwide? Your HCV rental assistance can be transferred from one Housing Authority to another under Portability.
“Portability” in the HCV program refers to the process through which a family can transfer or “port” their rental subsidy when they move to a location outside the jurisdiction of the public housing agency (PHA) that first issued them the voucher when they were selected for the program. New families may not be able to port immediately; they may have to live in the jurisdiction of the initial PHA for a year before they can port out. Initial PHAs may allow moves during this one-year period.
There are two types of Portability:
- Porting Out – Transferring Your Voucher Out of Central Oregon to another Housing Authority that administers the Housing Choice Voucher Program.
- Porting In – Transferring Your Voucher to Central Oregon with an existing Housing Choice Voucher
If you or someone you know is interested in using their Housing Choice Voucher under Portability, we highly encourage you to contact your Housing Specialist for further assistance. You may also read more about “Portability” from our Housing Works website by visiting:
|
|
|
|
Security Deposit Assistance Available!
Rental security deposit assistance loans are available to Housing Choice Voucher holders and residents moving into Housing Works-owned properties managed by EPIC Property Management ONLY on a first-come, first-served basis when funding is available. These funds help individuals and families remove barriers to accessing safe affordable housing once they are selected for a rental home.
|
|
|
|
|
|
|
