A six-month savings challenge helps 14 participants get closer to their personal goals and strengthen their financial futures.<\/p>\n
The County of Hawai\u02bbi Office of Housing and Community Development distributed one-time savings match payments to participants in the Family Self-Sufficiency Sponsored Savings Program following the challenge.<\/p>\n
During a check presentation held June 19, 14 participants were recognized for consistently saving money each month. More than $14,000 was disbursed.<\/p>\n
\u201cCongratulations to each participant for reaching this milestone and investing in a stronger future for yourselves and your families,\u201d said Mayor Kimo Alameda. \u201cBuilding savings takes commitment and discipline, and these individuals have demonstrated both.\u201d<\/p>\n
Participants reported plans to use their savings to reduce debt, work toward larger savings goals, set aside funds to visit family members serving in the armed forces, and continue building long-term financial stability.<\/p>\n
\u201cIt feels like I\u2019m no longer stressing all the time. A weight has been lifted off my shoulders,\u201d participant Jorina Riveira said, reflecting on the relief of no longer carrying financial debt. \u201cI still have to work on my day-to-day things, but this program helped me restructure my life and the way I manage my finances and that has made a big difference.\u201d<\/p>\n
Family Self-Sufficiency is a U.S. Department of Housing and Urban Development initiative that helps Housing Choice Voucher (Section 8) participants work toward financial independence through coaching, goal setting, and savings incentives tied to increased earnings.<\/p>\n
The Sponsored Savings Program builds on this model by encouraging savings goals, with participants eligible for a financial match of up to $1,500 upon completion and verification.<\/p>\n
Participants were required to be active and in good standing in Family Self-Sufficiency and maintain at least $50 in monthly deposits into a qualified account in their name, verified monthly by the Office of Housing and Community Development.<\/p>\n
\u201cDiscipline, sacrifice, and creating better habits \u2014 that\u2019s how you did this,\u201d Housing Administrator Kehaulani Costa told participants. \u201cAnd once you get into that cycle, things start to improve. With savings and the skills you\u2019ve learned, you\u2019re leveling up from surviving to resilience on your way to thriving.\u201d<\/p>\n
\u201cI encourage you to continue saving for the important things, to really think about wants and needs, and to resist the temptation to satisfy small rewards in order to reach greater goals,\u201d Costa continued. \u201cWhen you thrive, you become an inspiration to others.\u201d<\/p>\n
Housing Choice Voucher participants interested in Family Self-Sufficiency may call 808-959-4642, option 8, or email fsshopinfo@hawaiicounty.gov for more information.<\/p>\n
While Family Self-Sufficiency is limited to Housing Choice Voucher participants, all Hawai\u02bbi Island residents can access free financial empowerment services through the county\u2019s partnership with Hawaiian Community Assets. Services include financial coaching, credit and budgeting education, and homebuyer readiness training.<\/p>\n