Saving early has paid off for young homeowners

DYERSVILLE, Iowa – Benjamin Knepper understood the value of saving from a young age. Dupaco’s Dawn Kress suggested that his parents open an account for their children, and Ben’s mom took him to a Dupaco branch with his piggy bank change to open his first savings account.

Over the years, Ben made small deposits, and as his income grew, so did his savings. When he started working, he put his entire paycheck into savings.

He was always curious about his finances and eager to learn about credit. He quickly learned to manage his spending and understood the importance of paying his credit card off monthly to avoid interest. With a strong credit score and enough savings, he was able to purchase a vehicle with cash.

“I just put my earnings in the bank. I lived at home and kept putting money away,” Ben said.

Ben passed this knowledge on to his girlfriend, Grace Wanke. After a few years of dating, and at just 21 years of age, they were ready to buy a house together.

Credit cards can help build credit

Grace had always been a good saver, but she needed to establish and build a strong credit score. When Dawn suggested she open a Dupaco Visa card, Grace was reluctant. However, after understanding the importance and impact on her credit score, she agreed. Within six months, she increased her credit score by 80 points.

“I have the people in my corner to help keep me on track,” Grace said. “Dupaco has been good about helping me get where I need to be. Dawn has been amazing. She’s advised me every step of the way.”

For Ben and Grace, hard work has paid off. With the right guidance, they quickly achieved their goal of homeownership.

“It’s so exciting to see young members realize the impact of having good saving habits along with understanding the importance of good credit,” said Dawn.

When asked what advice they would give other young people, Ben’s message was simple.

“Just save as much as you can,” said Ben. “When you put in eight hours of hard work, you’ll appreciate and understand the value of your money. You won’t want to spend it as easily.”