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February 2023 Newsletter

“I love watching my son and his savings grow together.”

Meet Donica, a Fund My Future PGH participant who heard about Fund My Future PGH on Facebook. When a friend posted about the program, Donica decided to look into it herself. Donica was already saving for her son but did not have a savings account specifically for him. She thought opening an account would be an opportunity to engage him with savings. So she enrolled in Fund My Future PGH.

Next, Donica scheduled an appointment at her local bank. Her son would accompany her so he could participate in the whole process. Prior to enrolling in Fund My Future PGH, Donica created a reward system for her son in order to learn about money. The reward system consisted of him saving the money earned from chores, schoolwork, bringing in groceries, etc. Whatever amount her son chose to deposit from the money he saved, Donica would match it at 100%.

When they arrived at the bank, Donica allowed her son to choose how much he wanted to deposit. He decided to deposit $5 and she matched it with $5 making his initial deposit $10. She even asked the bank representative if he could sign off on the account opening forms, and they let him. While Donica signed the actual forms, her son got to experience that feeling of ownership.

Although she hasn’t won yet, she feels good about being a part of Fund My Future PGH and saving for her son.