Advice from Successful Savers

Carolyn Davis

“You can’t just sit there and say I want a house.
Stay focused! Just keep it going and
bring something to the table.”

Carolyn Davis is not one to sit back and watch her dreams pass her by. She speaks up, gets involved, and follows her dreams. It is because of her irrepressible drive for success that Carolyn joined the CAAB IDA program. For her, this dream was very specific. Speaking about her aspirations, Carolyn remarks, “The biggest thing was to accomplish my goal, and my goal was to be a first-time homebuyer.”

Taking this path towards homeownership was not always easy, but Carolyn kept at it. “It didn’t bother me that doors were shut in my face. I’ve had that all my life. But if you have that type of mentality going into it, you’ll never succeed at anything.” So when Carolyn heard about the CAAB IDA program from members of her community (Columbia Heights) she realized that not every door was closed to her. She joined the Homebuyer’s Club at Manna and began saving into her CAAB IDA. She was very pleased with the assistance the staff provided her and the other members of the Homebuyer’s Club, “They actually opened up the avenues that aren’t opened to us, that are not suggested to us; the information, the different packages that are out there to get a home.”

After three years in the IDA program, Carolyn has purchased a beautiful new condo and accrued a stable credit record—which in turn has helped her establish her own business. Before her involvement in the IDA program “I never established any credit…worst mistake you can make.” Now, Carolyn budgets effectively enough to potentially pay off her mortgage in the next five years, rather than ten. According to her, one does not have to drastically alter their habits to save extra money; smaller measures of frugality—like packing her lunch for work or turning off the lights—add up faster than Carolyn expected, “You’d be shocked how much you can save.”

Not only did the CAAB IDA program create financial opportunities for Carolyn, the organization provided a forum for her to express herself and establish civic responsibility. “They opened the door for me to let a lender take my promissory note…to take my word!” Carolyn advises those with similar dreams to take responsibility in achieving them. “You can’t just sit there and say I want a house. Stay focused! Just keep it going and bring something to the table.”

Today, Carolyn’s main investment lies in the community that she can now truly call home. “The Columbia Heights area is going to be my kid’s future, so therefore I want to know what’s going on around here.” Her current focus is to help the people of her community, especially her children, attain their goals through support and civic participation. Parting words from Carolyn: “I’m going be a role model for my kids. I’m going to be a voice heard.”