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Keeping your goals alive during the holidays

Imagine this: You’re getting the hang of budgeting. You’re maybe even beginning to save a little money. You’re financially on track–and then, the holiday season hits and you lose focus.

In a season that is full of distraction, festive events, and shopping deals, even the most well-intentioned financial planner can drift from their goals. So as we head toward the holidays, let’s equip ourselves with some tools to help avoid some of these pitfalls.

Make a plan before you get busy.

Most of us have a calendar that gets quite full between October and December. Gatherings with family and friends; performances to attend; traveling for some of us; and holidays themselves. Everyone’s schedule won’t look the same, but most of us will have some level of busyness creep in. So now, before you are swimming in festivities, is the perfect time to make a spending plan.

Of course, we always recommend starting with your budget. If you don’t know how much you have available to spend on various things, you won’t be able to make a very good plan. If your money is tight, you could consider a way to make a little extra money, if spending is something you’d like to do this season. Possibly, there’s something you could sell on Marketplace or you could take on a small side job for the holidays, like house cleaning, yard work or one of these other ideas.

Once you know how much you have to work with, you can prioritize the most important things to spend your money on. We even recommend planning what you want to buy, for whom, and where you may get it from. Any pre-planned detail will help you avoid impulsive spending when you get those ads in your inbox!

2. Prioritize yourself.

The holidays are often considered a “season of giving,” but we’re here to tell you that prioritizing your own goals and needs is important. If you are saving for a big goal, like homeownership, or working toward paying off your debts, do not let those goals go. Do not let outside pressures to spend derail your progress. Remember, this goal won’t last forever, and it will make future celebrations all that much more exciting!

3. Get creative.

Even while staying laser-focused on your goals, you can still find many ways to get in the spirit of the holidays! Have a fancy party or church event to attend and need a new outfit? Maybe you can start shopping second-hand or hold out for a big sale and find the perfect attire. Want to give some great gifts? Watch those sale ads and wait for the best deal. Perhaps you prioritize the children in your spending and send cards to adults? Maybe you can use your talents to offer a nice gift or service.

We fully believe you can have a meaningful holiday season, no matter your income or financial goals. We hope some of these tips can help you be festive without breaking the bank or your progress.

But to end, if you overspend–like Forbes says 7 of 10 Americans do, you are not alone.Give yourself grace and continue working toward the finish line. Whatever holidays look like for you and yours, may your season be full of warmth, love, and light!

25 years of NeighborWorks Columbus

NeighborWorks Columbus is officially 25 years old this year! We are proud to be part of a community of supporters who value safe, fit, and affordable housing. From day 1, we have had a great team, and in the past quarter of a century, with your support, we have been able to make big strides in expanding affordable housing. We hope you’ll enjoy this look back at the milestones you have made possible in our community’s history:

Seeds planted

Two years before NeighborWorks Columbus was formed as an organization, our CEO Cathy Williams was invited to a Chamber of Commerce inner city tour. This trip is done annually and typically takes community leaders to another city to gain new ideas and insights. But in 1997, Councilwoman Evelyn Turner Pugh suggested the Chamber tour Columbus, and thus, “The Good, The Bad, and The Ugly Tour” took place around our city.

As part of that, the group went on a bus tour of what was then known as the “South Lawyers Lane neighborhood.” It was bad–so bad that in 1989 Dateline NBC dubbed the corner of 9th and Benner Street as the “most dangerous corner in the country.” This was quite an eye-opening experience, Cathy said.

Seeds watered

After this experience, the City Manager asked Cathy and Amy (Carroll) Moore to co-chair a housing focus group and study the issues. After one year, they presented their recommendations:

Start a nonprofit
Establish a consortium line of credit
Draft a message that it is unacceptable to have substandard housing in our city.

The City Manager then said, “Go do it.” Thus, Cathy left her job at the Homebuilders Association and formed the Columbus Housing Initiative (which became NeighborWorks Columbus in 2004).

Garden is in bloom!

With generous funding from an anonymous donor, our work began in 1999.

The first task the city asked the nonprofit to do was to revitalize South Lawyers Lane. In surveying residents for that work, one of the first things we learned was that residents called their neighborhood East Wynnton Park.

East Wynnton Park

We rebranded it. We worked individually with an architect and residents to design the look of their homes and created a community garden. The work of NeighborWorks Columbus really started in East Wynnton Park. Over the course of time spent there, we built 51 homes! EWP was no longer defined by its deficiencies; rather it was a place of opportunity and hope. In December of 2003, the U.S. Department of Housing and Urban Development (HUD) named East Wynnton Park a “Best in American Living” neighborhood. It had become a Neighborhood of Choice.

Milestone Moments

It is worth noting that from the start, our homeownership model, Avenues to Homeownership, has stayed the same at its heart: we walk with individuals seeking homes through each step of the process. This includes financial counseling, homeownership education, securing affordable loans, down payment assistance options where possible, and a relationship that even extends beyond the closing table. The goal is not just putting people in a house–but creating successful lifelong homeowners. This is the core of what NeighborWorks Columbus does each day.

Columbus Cottage Program

From the beginning of our history, NeighborWorks Columbus has had a version of the Columbus Cottage Program. Began as a partnership with Jordan Vocational High School’s Construction Program, Students Housing Seniors, this life-changing program has given back to senior citizens in our community by taking substandard homes they already owned and building them a new home in its place. This has given 9 senior citizens in our community the ability to age in place with dignity in their own homes.

Beallwood

In 2005, we transitioned out of working in East Wynnton Park and moved into the Beallwood community. Over the years, NeighborWorks Columbus worked closely with the community to build several single family, duplexes, and cottages for our residents. Many of the homes that were originally built to be sold, had to be rented when the housing market crashed in 2008. Over time, we have sold all these rental properties to homeowners in a neighborhood that is truly a unique and wonderful place to call home.

Hallock Soldier’s Fund

In 2007, the Hallock Soldier’s Fund was established in memory of Colonel Richard Hallock to help soldiers and their families achieve the American dream of homeownership. This fund offers down payment assistance, low-interest loans and matching incentives to help soldiers and their families become successful homeowners. Through the years, 142 have benefited from the Hallock Soldiers Fund.

Solstice

In partnership with The Bennett Group, NeighborWorks Columbus built Solstice, a community in Auburn, Alabama for low-income senior citizens. The community features 28 duplex units in a beautiful, ideally located neighborhood.

North Highland Developments

In 2019, we began our third neighborhood revitalization effort in partnership with so many partners. The North Highland community was once a thriving neighborhood, but when the mill shut down, it left its residents impoverished. Our efforts resulted in two big developments in this region: Highland Terrace and Highland Homes.

Highland Terrace

Highland Terrace is a beautiful apartment complex housing 102 low-income senior citizens in North Highland. It is located next to Fox Elementary School, on the site of the former Meritas Mills location.

Highland Homes on 4th

This new subdivision was built along 4th Avenue on the block between 35th and 38th Streets. The 20 new homes have been purchased by former residents of the Ralston Towers, mothers working at Wal-Mart, doctors, and military families. It’s truly a unique and diverse neighborhood in the beautiful Mill District.

Elliott’s Walk

This brings us to today. NeighborWorks Columbus started work on Elliott’s Walk, bringing new affordable housing to South Columbus for the first time in 50 years. Last year, we built 19 new single-family homes, which have all been sold. The second phase of 26 homes is under construction now. Once that is completed, we will build a 130-unit low-income senior housing at Elliott’s Walk called Providence Pointe.

Truly, it’s been an honor to work with this community for the past 25 years.

Cheers to the next quarter of a century! Thank you for helping us give this community safe, fit, and affordable housing for all citizens of low to moderate income.

07/10/2024

Home Sweet Home in Elliott’s Walk

Emma West was tired of paying rent and living in apartments, and she knew she wanted to own a home.

She started her journey almost five years ago and kept hitting road blocks.

“This process was not an easy one for me. I had a bunch of ‘no’s’ along with a lot more excuses of why I couldn’t be a homeowner,” West said.

West works at Wal-Mart, and was told by various sources she did not make enough money or would need a co-signer. But, she did not give up hope.

Earlier this year, Emma was encouraged by her family to come to NeighborWorks Columbus. That’s when the process sped along for her. Just a few months later, Emma is the proud homeowner of not just her first home but a brand-new home in Elliott’s Walk!

“(NeighborWorks Columbus staff) told me I was approved for the loan, and then they told me about Elliott’s Walk. It was just a dream come true,” she said.

Ema closed on her home last month, becoming one of the first homeowners in this historic subdivision that will eventually house hundreds—and she did it despite lots of trials and proudly, without a co-signer!

Is financial freedom within reach?

This month we celebrated Independence Day, but let’s talk about a specific kind of freedom: financial freedom.

Financial freedom may mean different things to different people, but ultimately it comes down to taking ownership of your finances–making your money work for you and not the other way around.

Many of us live paycheck to paycheck, and even if that describes you, you can achieve financial independence.

Let’s break it down a bit.

1. Budget

You can’t reach financial freedom without knowing exactly where you stand with your money. You need to take an honest assessment of how much income you make each month and what your expenses are. This can take a bit of a learning curve if you are new to it, so don’t get discouraged. There are several free apps available to help you think about all your possible expenses in a month, but when you are just getting started it’s definitely easy to forget something.

To get you started, write out all your income. If your paychecks aren’t always the same amount, try to make your best guess and aim on the lower side. That way you will not spend more than you know you will make.

Then, try to list all your expenses. Start with the things you can count on (like your basic bills). Then add in groceries, household supplies, doctor visits, medicines, eating out, entertainment, subscription services, clothing and debt payments. Don’t forget special events coming up like birthdays or holidays. Everyone won’t have all these expenses and some may have other categories but this is just to get you started.

2. Set Goals

Now that you’ve budgeted, you have a clear idea of your money (which by the way may take a month or two to get accurate. If you aren’t used to tracking your groceries or how much you spend on cleaning products, for example, that may take a few tries to get right). It’s time to set some financial goals. If you need to save money or pay down some debts, you now should have an idea of where you can cut out some expenses, like possibly not eating out as much or spending less on entertainment or streaming subscriptions. Shopping at thrift stores instead of clothes new off the rack. If you need to save money, find ways to temporarily sacrifice for your ultimate goal.

Here are some great goals to start with:

Pay down debts, especially if there are any in collections or any with very high interest rates
Build an emergency fund of at least $1,000
Start saving for something bigger, like a down payment on a new home
Invest in your future

3. Grow your income

There are only so many expenses a person can cut. And if you are living minimally, you may be out of options (you can’t cut your power bills and house payments, unfortunately)! It may be time to consider other sources of income.

You don’t necessarily have to get a higher paying job, though that could always be an option. You could consider taking up a side hussle or selling some of your goods on Facebook marketplace. You could even have a yard sale.

All of these things are great ways to either temporarily or for the long run make some extra money.

4. Celebrate milestones

When working toward a financial goal, especially if it’s a lofty one, it can be easy to get discouraged or lose sight. So it’s important to celebrate victories along the way, no matter how big or small they are! For example, if you are paying down multiple debts, reward yourself with a little treat when you pay down the first one.

If you are saving $1,000, celebrate being half way there.

No matter how lofty or little your income is, financial freedom is within your reach. Give yourself a lot of grace, and take one step at a time. This is a marathon and not a sprint, and with determination and careful planning you can achieve your goals.

Keeping your information safe online

With the convenience that technology provides for things like online banking, shopping, and bill paying—there comes another side we all have to keep in mind: security.

There are countless things to consider when it comes to protecting your information. Fortunately, we’ve compiled a list of some of the big ones to at least get you started.

Don’t bank in public

When you’re out in public, resist the urge to login to your online banking apps, especially if you are connected to Wi-Fi. These are not secure platforms, which would make it easier for a hacker to intercept your banking info. Make sure you save these things for a secure and trusted network.

The same would be true for any bill-paying or shopping that requires you to enter your personal financial information. Make sure you do this from home or somewhere that can be trusted.

Create strong passwords

Just about everything we do online requires a password, and while it’s tempting to make them short and easy to remember, that is not the most secure. As a general rule of thumb, passwords should be long, strong, and difficult to guess.

This means, don’t use personal information like your name, birthday, or email address. The safest thing to do is use a password generator, but you can also make secure ones yourself keeping them long, using a combination of letters and characters, and capital and lowercase letters.

It’s also best to not use the same password for every site, as tempting as that may be. To store your many different passwords, you can use a password manager.

Multi-factor authentication

Many websites require multi-factor authentication. This is basically just using another method to verify you are who you are. While it can be frustrating if you’re in a hurry to enter a security code or click on the number of “traffic lights” in a picture series, this is ultimately a small price to pay for a secure Web experience. When prompted to set up, we recommend you do it.

Don’t click on links you can’t verify

Many of us are bombarded with texts and emails asking us to click a link. Some of it is stuff we signed up for through a business, but other things are from scammers. You should never click on a link that isn’t from a trusted person or company and that you don’t know exactly where it will go.

Beware especially with email as scammers will often pose as someone you know, using another name. You can always verify this by looking at the email address of the sender.

Login to your accounts regularly

Make sure to login to your online banking and/or credit card apps on a regular basis. Try to do this everyday if possible. That way you will quickly notice if someone made a purchase using your cards, and you can call your bank or credit card company right away.

Keeping your goals alive during the holidays

25 years of NeighborWorks Columbus

Home Sweet Home in Elliott’s Walk

Is financial freedom within reach?

Keeping your information safe online

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