Nicole is a single mom with two young children. Nicole runs a daycare center in her home and wanted to improve her businessbut she didnt have the cash to do it.
She turned to her local CAA and began working with its Jobs and Development program. Through it, Nicole learned of the Individual Development Account program, which matches the money she saves and would help her reach her financial goal much sooner.
Using her good business sense, Nicole committed to saving money every month in her IDA account. When she had accumulated the amount she needed, she used it to purchase a computer to assist her in record keeping for the business. She also bought educational toys for the children in her daycare center, and she installed new outdoor play equipment and a fence around the area to keep the kids safe.
Individual Development Accounts: Success Story