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IDA Matched Savings Account : Tiny Home Grant Utah Residents

Overview of Accounts Individual Development Account (IDA) An IDA grant enables low-income families to save, build assets and enter the financial mainstream, by rewarding the monthly savings of working families. WWBIC’s program allows individuals to save for four reasons: Purchasing a first home; Paying for post-secondary education (college)

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Individual development accounts are matched savings accounts that enable low-income families to save money for a particular financial goal, such as buying a home, paying for post-secondary education, or starting or expanding a small business. The framework for IDAs is widely believed to have emerged in the early 1990s

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A Matched education savings account (mesa), also known as an Individual Development Account (IDA), is a special matched savings account for people with lower incomes. These accounts are designed to help families and individuals of. The applicant must be an Oregon or Washington resident.

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An Individual Development Account (IDA) is an asset building tool designed to enable low-income families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. In principle IDAs work as matched savings accounts that supplement the savings of low-income households with matching funds drawn from a.

Learn, save and plan – so you can buy a home, go to school, or start a business! The Individual Development Account or IDA Program teaches personal finance; including, budgeting, savings strategies and planning to meet financial goals. SELF will help you start saving and reach your goals faster by "matching" a portion of each deposit.

You can save up to $1,500 in your IDA account and your savings will be matched with an additional $4,500, giving you a total of $6,000! Savings can be used toward a first home, small business, higher education, or assistive technology devices for work related activities. You will save anywhere from $15 to $62.50 each month for 12-36 months.

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The IDA is a special U.S. government funded savings program allows qualified applicants to have up to $2,000 of earned income savings matched with $4,000 for a total of $6,000 that can be used to help achieve personal financial goals – towards the purchase of a home, for college related/job training expenses or to start or expand a small business.

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