Tory

Compared to most 18-year-old college freshmen, Tory is a master of personal finance. Growing up as the older daughter of a single mom raising two kids in DC's Ward 8, finances were tight and managing debt was always an issue. As a result, Tory learned at an early age about prioritizing wants versus needs and the importance of savings. The financial education she received through CAAB's matched savings program taught her about budgeting for unexpected expenses and the heavy burden of debt, and now Tory is the go-to financial advisor for her friends and family.

Determined to be in control of her financial future, Tory set the bar high when she applied to college. She made it a goal to fund her education all by herself through scholarships and her own savings, including the matched savings account. “When I was applying to college, [my mom] was considering opening a loan for me to go to school, but I told her, 'Mom, I will find a way -- loans should not be your first option.'”

Now a freshman at Virginia Commonwealth University, Tory is the first person in her family to go to college. To help meet her goal of graduating from college debt-free, she contributes at least $10 a month to her matched savings account from the money she earns from internships and other jobs. Funds from her account have helped pay for some of her school expenses, including books and tuition. “There are just so many college expenses that you don't think of that come up out of nowhere ...the matched savings account has helped me along that way.” Tory hopes to make her funds last at least through her junior year, and with her savvy budgeting, we're sure she will.