Ingrid Drake
"[T]his process has helped me think about how
to bring in more income, what financial goals I have for the future,
and what decision making I have to do to make them happen. I’ve
learned how I can think more strategically about my earnings."
As she’s shopping for her first home, Ingrid Drake has a closer
eye on the potential of the backyard than the house. “I want room
for a laundry line in the backyard,” she says. “Global warming
has knocked everyone’s socks off. I want to create a home that’s
as environmentally friendly as possible in terms of composting, rainwater
collection, and that sort of thing. Someday maybe I’ll have money
to put in solar panels.”
Ingrid’s financial
education through Capital Area Asset Builders has helped her think
more about long-term goals—like solar panels—instead of
just saving what she needs for the immediate future. “I don’t
have a lot of income. It’s always been low so I’ve never
been a big spender. I’ve learned to live a rich and complete life
without many things, but this process has helped me think about how
to bring in more income, what financial goals I have for the future,
and what decision making I have to do to make them happen. I’ve
learned how I can think more strategically about my earnings.”
A Michigan native, Ingrid has lived—and paid rent—in DC
since 1999. She wishes she had bought a house when she first moved to
the District, but she didn’t then have the confidence or means
to do so. Now, motivated by what she’s learned through CAAB and
armed with the savings she expects to accumulate by July, Ingrid hopes
to realize her dream and buy a house she can move into with her partner
by the end of the summer.
Ingrid has participated in several home buying and general financial
education workshops through CAAB since she enrolled in the Individual
Development Account (IDA) program in January. “I was really
inspired,” she says, “by the idea of looking at long-term,
medium-term, and short-term financial goals. We took time during class
to write those out and it was so empowering to me that I’ve gotten
my friends to start thinking about those questions and answering them
too. I’ve started keeping a database of my spending so I can look
at it more carefully. I’ve always paid attention to what I put
out but haven’t always paid attention to what I take in.”
Her passion is writing, which she does for a variety of newspapers,
magazines, and the Pacifica radio network. Given the opportunity, she’d
love to write more about criminal justice and the impact of technology
on society. One of her current projects is working with students at
DC’s Calvin Coolidge High School to teach them about oral history
and help them discover the activist roots of their predecessors at the
school.
“I’m teaching them to interview alumni,” she explains.
The school, whose student body is now predominantly African-American,
used to be mostly white. According to Ingrid, “There was a powerful
black student union during the late 60s. They built coffins and marched
them to the White House to protest the Vietnam War. A lot of judges,
fire chiefs, and other public figures in DC went to Coolidge. There
was a highly rigorous academic curriculum and there’s an active
alumni association that came from a strong school culture and identity.
Now students are excited to learn about the popular fashion and hair
styles back in the day, homecoming, and what the building conditions
used to look like. Hearing the stories from the past has given them
some ideas about generating cohesiveness.”
Ingrid also finds herself in the role of teacher at home. She’s
currently renting a home in the Brightwood neighborhood with friends
who are eager to learn from her what she’s learned from CAAB.
“My friends want to learn more and want me to teach them about
credit,” she says. “I’ve told a lot of people about
the program. That’s a new conversation among my friends.”
Ingrid originally learned about the IDA program from her friend Tosha
Link, an MDA participant
and previous
saver of the month.
Looking back on the classes she’s taken from CAAB, Ingrid particularly
appreciates the diversity of the instructors. “Our trainers for
different sessions were different and they have different styles and
personal experiences they shared. They were all effective at building
community in the classes, making people feel comfortable, and creating
a safe space for people to have these discussions.” Ingrid believes
that this environment has helped her become a more thoughtful and conscientious
saver, and hopefully soon a homeowner.
