ms, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at A new type of savings account was created with the introduction of the 1996 welfare reform legislation. This new matched savings account allows low-income families an opportunity to rapidly build a savings by matching contributions to a savings account 1:1 up to, in some instances, 4:1 or even 10:1. This means that it is possible for certain individuals to receive $4,000 for every $1,000 that they commit to a savings account. In very rare cases $10,000 for every $1,000.

It's called an Individual Development Account, or “IDA”, and they are an excellent short term savings idea that can help you do pretty much anything from buying a new car to saving up for a down payment on a new home.

So, what's the bad news? For starters, these are federal and state sponsored programs, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at

savings by matching contributions to a savings account 1:1 up to, in some instances, 4:1 or even 10:1. This means that it is possible for certain individuals to receive $4,000 for every $1,000 that they commit to a savings account. In very rare cases $10,000 for every $1,000.

It's called an Individual Development Account, or “IDA”, and they are an excellent short term savings idea that can help you do pretty much anything from buying a new car to saving up for a down payment on a new home.

So, what's the bad news? For starters, these are federal and state sponsored programs, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at

t they commit to a savings account. In very rare cases $10,000 for every $1,000.

It's called an Individual Development Account, or “IDA”, and they are an excellent short term savings idea that can help you do pretty much anything from buying a new car to saving up for a down payment on a new home.

So, what's the bad news? For starters, these are federal and state sponsored programs, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at

t can help you do pretty much anything from buying a new car to saving up for a down payment on a new home.

So, what's the bad news? For starters, these are federal and state sponsored programs, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at

ms, with some assistance by private foundations. As such, IDAs are not available everywhere in the United States. There also may be some "membership limits" - a limited number of IDAs available at any given bank or credit union. I do not provide any assistance in the location of IDAs, nor do I specifically endorse them.

In today’s volatile climate of a perpetually declining dollar, inflation, and speculative boom and bust cycles caused by the Federal Reserve, the IDA may just be the easiest way for the low-income family to dig themselves out of a nasty situation before things get any worse.

To see if you can qualify for one of these accounts, you can call the Corporation For Enterprise Development at (202) 408-9788 or visit them online at: The IDA Network