Pocket Change by Michelle Mulder

Author:Michelle Mulder
Language: eng
Format: epub
Publisher: Orca Book Publishers
Published: 2016-07-06T00:00:00+00:00

Super Sweat!

Usually banks only lend money to people who already have some money or valuable property. Most banks figure that someone who’s saved money in the past will be able to pay back the loan eventually. But what if a family wants to buy a house and doesn’t have any savings or property?

Habitat for Humanity is an organization that works with families that don’t earn enough money to save for a house. So instead of money, these families start paying for their houses with a different kind of equity—sweat equity! This means that the family gives their time and labor toward the house, helping build it or doing other volunteer jobs for the organization. Once the house is built, the family pays some money every month until they’ve paid for the whole house.

Sweat equity is not a new idea. In fact, communities have been building with sweat equity for thousands of years, and in some places around the world, if a family needs to build a barn or a house, the entire village comes out to help, knowing that, when they need help, the village will be there for them too. Many hands make light work, as the old saying goes.

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