Beyond Housing’s landmark program was part of a national initiative to test the progress of children who are given opportunity, education, and empowerment.  This pilot project, which ended in 2007, generated over $100,000 in savings for college.

I Can Save operates under the premise that children who have a reasonable opportunity to build assets do so.  Children are given $250 for a Commerce Bank Savings Account when they enroll in the program. They, along with their families, learn how to save and manage their finances as they contribute to their savings fund.

• In class, students learn about decision making from the Financial Fitness for Life curriculum developed by the National Council on Economic Education.
• After school, kids participate in an I Can Save Club once per week.
• Students learn about the history of money, play games like Service Charades, and experience being an entrepreneur by designing their own businesses.
• Parents and guardians also have opportunities to receive financial education through adult workshops developed from the National Council on Economic Education’s curriculum “Your Credit Counts Challenge.” These include “How to Earn Income & Create a Budget,” “Getting Your Credit in Shape,” “The Basics of Homeownership,” and “How to Build Wealth.”

At the end of the program, savings up to $1500 are matched! The savings and match dollars are used to open a Missouri 529 plan for each child. When the child graduates high school, he or she will already have a nest egg for higher education.

Beyond Housing’s “I Can Save” is one of 12 programs chosen to participate in the nationwide Saving for Education, Entrepreneurship and Downpayment (SEED) Initiative. SEED is designed to test and impel asset-building for children in the United States and is organized by the Corporation for Enterprise Development.

For more information, contact Eric Zegel, IDA Services Manager, at (314) 766-1738 or ezegel@beyondhousing.org.