Meet Fred
Meet Alicia
A Vietnam veteran, Fred had been homeless for five years, previously had a car repossessed and was unable to get a loan for a new one. But today, through a national program coordinated through United Way, Fred is driving a 2003 Mazda-6, which he bought with a $7,000 loan with nothing down, at 8 percent interest. If he were able to qualify on his own, his interest rate could be triple that. Now, it takes him 15 minutes to get to and from work, get to school on time and even visit his 14-year-old daughter in Encinitas.
Alicia spent four months living in the shelter, and while she was there, she took every financial literacy class that was offered. “It was not easy. But I learned how to drive, I filed for divorce, I got my immigration papers through the program for women of domestic violence. After five years I had to show I was able to support myself without getting assistance.”
—Fred
“There were several times that I was very discouraged and I thought I was never going to be able to make it. Being a single mom and making so little money, I thought it was not a possibility for me,” she says. “I just had to push through.”
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“It allows me to finish work and be able to go straight down to City College and take the classes that I want to take and not worry about getting out at 9:30 and missing the bus. The car makes a big difference in allowing me to accomplish the goals that I do want to accomplish.”
With the help of United Way-funded financial education classes, which taught her how to save money, she put away $100 a month. Her down-payment increased until she had enough to buy herself a condo. A community housing program matched her down payment, but saving up still wasn’t easy.
—Alicia
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