Even With 12 Months of Reserves, Life Happens


Plano, TX

I am ever so glad you were able to see and value my example of being a "white collar" IT management professional who lives modestly

August 2018

Nadine has been a resident of her complex for over 7 years and has never paid rent late once in all those years. She has tremendous skills and had a great job until budget cuts affected not only that position but her next job as well. On top of all that, she recently discovered that she has an inoperable tumour, thankfully non-cancerous, but her condition requires growth-inhibiting steroids and medications to keep it in check and added to her growing pile of bills. She is a highly skilled technical professional, is careful about expenditures, and had about 14 months of living expenses in savings which is very unusual nowadays. She never thought that she’d ever have to use even one-quarter of it. Unfortunately, as she was denied job opportunities for being over-qualified, she went through all her savings and then some. She was on the brink of eviction when her property manager referred her to us. During the process, she received a terrific job offer and started her new job. All she needed was one month to get her back on her feet. We were so happy to qualify her and give her that hope. Here’s what she sent to us:

Dear Board of Directors.

A very brief note to express my complete and utter gratitude for approving my grant request. To say the least, I was awash with emotions when I spoke with Ms. Oswald.

I trust you will accept my word and loyalty that I will “pay it forward” back to the Resident Relief Foundation for use with another worthy applicant.

In addition, I am ever so glad you were able to see and value my example of being a “white collar” IT management professional who lives modestly and was prepared for 12-14 month career search reserves put away, but never in my wildest dreams thought it would go to 19 months, completely wipe me out and ruin my credit score 300 points in just 3 months and have health issues arise, as well.

Remember it used to be a rule of thumb for every $10/k a year of earnings you were seeking, you needed to have a month of reserves 10 to 1 ratio. Obviously, that is no longer the case.

Again THANK YOU!! God Bless all of you,

And my 18-year-old cat, Xena, thanks you too. You saved both of us from becoming homeless!