More Than Wheels is a non profit New Hampshire based group that provides access to very low interest rates loans. So their clients can get the reliable, affordable transportation they need to get to work and take care of their families.
They provide More Than Wheels, but also the educational opportunities to help lift people out of the cycle of poverty. The company helps their clients by educating them on financial skills, helping them develop and manage household budgets and improve their credit. Clients can then save for the future, and increase the overall health and well-being of their families.
Melissa grew up being afraid to use credit. Melissa’s parents had warned her about the dangers of using credit, advising that it was “bad” and that she should always save for what she wanted instead. In addition, Melissa never learned how to truly budget. So Melissa never took out loans or opened up credit cards. She focused instead on working hard and saved up for the things she wanted.
This meant that when Melissa needed transportation, she would purchase a vehicle for cash which limited her to high mileage used cars. She did have the benefit of buying them outright, but the cars wouldn’t last very long before they began to need extensive and pricey repairs. Melissa often found herself sinking money into a car until it was no longer feasible to continue doing so, then, would begin the cycle again with another used vehicle.
Melissa is an employee of Ascentria Care Alliance in the In-Home Care division. Recently, she found out her employer was piloting a financial wellness program through More Than Wheels. Melissa needed a reliable car in order to keep her job and care for her patients. She is a floater for the company, meaning that she goes where they need her, when they need her. Without reliable transportation, her job was in jeopardy.
After completing a financial wellness check-up with More Than Wheels, Melissa realized that with proper education on budgeting, taking out a car loan could actually be less expensive than continuing to repair the high mileage used cars she’d been nursing along. At the end of her wellness check-up, Melissa stated that she finally had hope even though she never thought she would. Melissa decided to continue her work with More Than Wheels by enrolling in our financial education course and car purchasing program.
Melissa enrolled in the car purchasing program in April of 2015. With the tools she learned in the online financial education course, Melissa tracked her spending and was able to create a budget that allowed her to begin saving towards her goals. When Melissa purchased her vehicle in August of 2015 she had saved over $700, paid off over $500 worth of medical debt, and while doing so, still managed the $300 her current vehicle cost her in repairs.
Melissa found that her self-confidence began to build which was empowering. Learning that when credit is used responsibly it could provide opportunity, was a major shift in Melissa’s thinking. Melissa learned that having strong credit impacted more than the ability to obtain a loan. She was excited about the positive impact improving her credit would have on her life.
Melissa found her financial coach to be “a world of information” when it came to budgeting, saving, and the car purchasing program as a whole. When talking about her financial coach Melissa noted, “With Kristi’s guidance and help I feel like a burden has been lifted. She gave me hope when I didn’t think there was any.”
Melissa also found the rest of the More Than Wheels team to be extremely helpful. She has been suggesting the program to many of her co-workers and wants people to know that the program is not too good to be true. In four short months Melissa was able to get approved for a low-interest loan and upgrade her 2005 Mercury to a brand new 2016 Hyundai Elantra. Now Melissa’s:
- Job is secure
- Gas expenses have decreased dramatically
- Career has more opportunities for growth
- Stress associated with an unreliable vehicle is gone
- Credit is improving with every on time payment
Melissa was a star in the More Than Wheels Program. She demonstrated a great deal of determination, was able to overcome her fears of credit, and developed a true & workable budget. Melissa took time to invest in herself, realizing that she was truly worth the investment . The team at More Than Wheels is enormously proud of Melissa’s accomplishments and believe this is just the beginning of her continued financial success.
More Than Wheels has helped thousands of people get their lives back on track with dependable transportation and the kind of credit counselling that real people can truly implement in their own lives. For more information for you or someone you know, click here.
If you or someone you know may benefit from the program that helped changed Melissa’s life, please