Step by step, Wilmington mom works toward financial stability

January 13, 2025

When Maria – not her real name – attended a seminar for prospective home buyers, she learned about a free financial coaching program, Stand By Me. She enrolled, then faced other challenges, and wanted a different coach. This Wilmington resident learned through an internet search that a counselor, Marilyn Ramirez, was available through the Food Bank of Delaware’s Newark site.

Stand By Me offers free personal, private, one-on-one financial coaching through a partnership between United Way of Delaware, the state of Delaware and local nonprofits like the Food Bank of Delaware. Maria said she needed help to improve her credit rating; One Stop Shop, through the Wilmington Housing Authority, requires program participants to attend classes in order to learn and implement financial literacy, one step toward the ultimate goal of home ownership.

Since 2019, Maria has been working toward her goal of “being financially stable.” She’s now employed as a security officer, but since her initial connection with the program, Maria’s had a few jobs, and the COVID-19 pandemic delayed progress too, she said.

Her situation is not uncommon. Many of the clients Marilyn works with struggle even staying connected to the Stand By Me program, but Maria has successfully taken small steps toward reaching her goals. “I do understand they are worried about more things, paying their bills and their rent. She has been working hard on it. Now she has a budget surplus where before she had a budget deficit. She’s getting there,” Marilyn said.

And Maria sees the positive results of Marilyn’s coaching. “When I first started, I had no budget. I didn’t know how. I had no savings, but I’ve gotten better. I still have room to grow,” Maria explained.

“I now have $300 in savings; that’s a win,” she said. And her last report showed a 647-credit score. “I previously had no reported score. I didn’t have a credit card, and I had medical bills plus outstanding past-due bills.”

Maria credits Marilyn’s guidance and goal setting to helping her move forward toward achieving her dreams. “She helped me get disputes off my record and cut back on expenses so I could move money into my savings,” Maria said. “I’m excited – and grateful – for the tools and resources. My ultimate goal is a 750-credit score. In my mind, she’s given me the foundation for financial stability. I’m trying to buy a house in the next year or two. It would be a nice thing for my 35th birthday.”

And there’s an unexpected benefit: Maria recognizes that she’s become a positive role model for her 15-year-old daughter. “She’s learned from me, the good and the bad, and I try to make sure she doesn’t run into the same obstacles. Right now, she pays half her cell phone bill from money she earns for doing chores around the house.”

Interested in getting your finances in order in 2025? Click here to learn more about Stand By Me at the Food Bank of Delaware!