Why Financial Awareness Matters

The core of Fellowship Housing is safe, affordable housing coupled with an intensive, hands-on financial literacy educational program that equips women to achieve financial self-sufficiency. A rigorous intake process gives a holistic view of each woman's unique financial circumstances, debts and obligations, and her need for skills like household budgeting, employment, and parenting. 

Women entering Fellowship Housing must be working full-time and able to afford a portion of their rent and other monthly expenses. An important factor in accepting moms is their motivation to succeed – they must have the ability and determination to seek social and financial independence. 

Moms develop an individualized budget specifically tailored to their needs and goals. They make long-term goals for beginning or completing education, moving toward a higher-paying career, and working toward renting or owning a home upon leaving Fellowship Housing. Moms learn to organize and track income and expenses electronically, cut out unnecessary expenses, and strategically save and pay off debts. Budgets are reviewed monthly with their Family Advocate to ensure moms continually work toward attaining short-term and long-term goals. Moms also receive additional educational opportunities in Fellowship Housing, such as attending Financial Peace University. 

The ultimate goal for moms in Fellowship Housing is financial independence and housing of choice within two years. While most need the entire two years with Fellowship Housing to achieve this, some women are able to move on in less time. The first year typically focuses on stabilizing the crisis areas that brought the family to Fellowship Housing. The second-year focus is preparing for independence. 

As a result of self-discipline, careful planning, and intensive engagement with a Family Advocate, most Fellowship Housing moms leave with little or no debt, drastically improved credit scores, approvals for home loans, and the financial tools to guide them toward long-term stability and independence.

Since 2006, Fellowship Housing has observed the following key outcomes from single moms:

● 88% of Fellowship Housing graduates live independently, are fully employed, and have independent housing. They operate from a household budget, family life is stable, and they are part of a community. Of the 88% that graduate, 46% purchase a home, many for the very first time, and 42% go on to rent without any outside or government assistance. 

● 19 Fellowship Housing moms have received a home from Habitat for Humanity in the Chicagoland area.

● Debt reduced by an average of $20,250.

● Savings increased by an average of $9,540.

● Credit scores increased by an average of 81 points.

● Salaries increased by an average of $8,800.

● 56% of clients received counseling.

Please consider supporting Fellowship Housing's hard-working moms who are building new legacies for their families.