Saver Success Story: Erhan
Meet Erhan: Erhan is a Turkish immigrant living in San Francisco. The Bay Area is an expensive place to live, so he is constantly looking for new and creative ways to save and earn money. Erhan describes himself as “very frugal” and very good at making his money last. Saving, however, hasn’t been a priority for him.
When Erhan learned about SaverLife on a personal finance blog, his interest was piqued. Regular savings accounts never encouraged him to save because of their low interest rates, but Erhan thought that SaverLife's matching would motivate him to finally start investing in himself.
A combination of a minimalist lifestyle and hard work has allowed him to meet his deposit minimum every month of SaverLife. He makes a lot of sacrifices to get by, and is super careful about his spending. Before he buys anything, he gives himself time to think about whether he truly needs it – and before he throws something away, he makes his best effort to fix or repurpose it.
Erhan says he definitely plans to continue saving after he finishes SaverLife. Eventually, he hopes that he’ll be able to buy a house. “That seems really far away,” he says, “but I have to start somewhere.”
In the meantime, he’s studying photography at City College in San Francisco. His goal is to complete his studies and either get a job as a photographer or transfer his credits to a four-year college. “Even at this age,” he says, “it’s never too late to get a college degree!"
Erhan says he would definitely recommend SaverLife to his friends: “SaverLife is a real motivator. It pushes you to save without any gimmicks. It’s an honest, direct program that really is interested in helping you save, not getting your money.”