Hey, Section 8 Tenants! Here Is A Really Cool Way To Savefor Something Big! by Chris Wechner
What if I told you that Section 8 Tenants and many other people can save and make a nice return? What if I told you about a way to have the government pay you to save money?
Introducing the Individual Development Account (IDA)
Many people, especially from low-income and low-wealth families, are never taught how to save properly. The benefits are not clear, and neither is the method to be able to save for something really important,is a survival machine. It's job is to protect you from possible destruction. Therefore, like buying a house or saving for education.
The Individual Development Account (IDA) is a government-sponsored program to encourage people to save. This program provides a structure to learn how to save money, and it provides a boosting incentive to save since you get paid to save.
What can the Individual Development Account (IDA) program do?
Once you establish an approved account, you begin saving. Most of these program's savings plans usually take six (6) to thirty-six (36) months. It could take as long as five (5) years. Once the savings goal has been met,which to me, then the program makes the appropriate match to your account,1873 Ugg Bailey Button Triplet Chestnut Boots, essentially giving you free money.
The program is specific how this money can be used.
What types of savings goals qualify within the IDA program?
Here are examples of ways the IDA program permits you to use money from this account:
Buying a Home (and associated costs of buying it)
Beginning a Business (and ordinary startup costs)
Post-Secondary or Vocational Education (Tuition, Books, Fees, etc.)
You can withdraw your money at any time. You always have access to the money within your account.
However, if you withdraw anything before the first six (6) months, you no longer qualify to receive a match for the money that you save. After the first six (6) months,this article is designed to specifically address the issues of AD/HD as they relate to crafters., you can only withdraw for approved items; otherwise, you will lose your chance to receive matching money from the IDA program.
How much of my savings does the program match?
The program will match these special account funds for as much as $1,000.
If the money will be used for education (post-secondary or vocational) or starting a business, then the program matches 2 to 1. For example, if someone saved $750 in this account, the program would match two (2) times that, or $750 x 2 = $1,500 to pay for education or beginning business costs.
If the money will be used to buy a home, then the program matches 3 to 1. For example, if someone saved $750 in this account, the program would match three (3) times that, or $750 x 3 = $2,250 toward the purchase of a home. If you qualify as a first time homebuyer, this could cover your entire down payment.
Who qualifies for the Individual Development Account (IDA) program?
The basic requirement is that you need to be under the 200% poverty income level for your area. You will need to visit a specialist to determine whether you, as an individual qualify to benefit from this program.
Who do I contact to learn more about this program?
This is a federally funded program. You can check to find the nearest location.
However, in Southeast Michigan, here is the contact information you need:
Michigan IDA Partnership
A Project of the Oakland Livingston Human Service Agency
196 Cesar E. Chavez (Oakland) Avenue
Pontiac, MI 48343
Phone contact 248-209-2691 or 248-209-2790
Email contact: or
This is an excellent opportunity to learn how to build wealth, make a great return on your investment, and leave poverty for good. Children of parents who successfully complete this program increase have a better chance of living a poverty-free life.
This is a great way for regular and Section 8 tenants to begin a new life, a wealthier life.