As high school students, conversations about the future often revolve around college applications, majors, and career goals. But rarely do we talk about the most important realities of early adulthood, personal finance. From rent and student loans to groceries and insurance, the cost of becoming independent can take many young adults by surprise. Melanie Hanson, reported that the average Federal Student Loan is by average $26,089 in 2025. Since 2024 national student loan debt has increased 2.97% and at least 56% of Americans cannot cover a $1,000 emergency expense in cash. For many recent college graduates, financial stability feels out of reach. But one couple found a solution, and they’re using their own home to make a difference.

Founded in 2018, Choose2Advance is a small but impactful housing program founded by a couple, Mike and Claire Armstrong. The program was designed to help young professionals build financial stability during the transition between college and their long-term careers. It offers recent graduates a rare opportunity to save their money.

“I was reading a lot of articles about high rents, college loans and how hard it was for young adults to have any savings; specifically the six-month emergency savings that financial advisors recommend – I just started brainstorming ideas,” recalled Mike Armstrong who with his wife, Claire, have opened their home to young adults. in need of support as they begin the journey of their career. “Eventually I realized I had extra space – and the idea was born,” Armstrong said.

The couple has a three bedroom cabin in New Hampshire, with both their kids grown and moved out, they figured that the extra space they had could serve a purpose of hosting young professionals that had little money saved and could barely afford paying rent while also paying for their loans and other expenses. The Armstrongs wanted to find a way for these young professionals to save enough money to support them in case of an emergency.

The Armstrongs were ready and willing to make a positive impact on the young adults starting with opening their own home. However, they weren’t going to be naive and decided to come up with expectations that the participants of the program had to meet. The participants often found that the expectations were reasonable and fairly easy to meet.

“They had to have a job and a criminal background check. They also had to be willing to save all the money they would not have to pay for rent, utilities, WiFi etc. Usually $1500-$1800 per month,” Mike said. 

Once the participants were approved for the program, they agreed upon a six-month term, where the participants saved six months of emergency savings ranging from $9000-$15000. The young adults were given their own bedroom and bathroom, and shared the kitchen, living room, dining room, and even a hot tub.

One thing that was important to the retired couple, was to track the progress during the six month period. Their goal was to see an improvement in the young adults’ savings, so they can continue their career in a stable and comfortable environment. After six months, they hoped that the final result allowed the participant to feel financially secure upon moving out.

“Every person who stayed with us was able to save all the money each month,” said the couple. It was important for each resident to save a small abundance of money within their savings in order to support themselves once they have moved out.

  A second, and perhaps more challenging goal in mind was to inspire others. Their hopes were for neighbors and friends to also open their doors to young professionals.

“We had hoped to get many other folks in the community to also open their homes, but Covid came along and made that impossible.”

The couple continued this program for four years, even during a move from New Hampshire to Colorado. However, the move did not slow them down. They are currently hosting their niece who is studying for her masters degree at University of Denver. 

“My niece is on this program but we extended it for her to two years because she needed housing for her masters program,” Mike said. In his niece’s case, the money saved is off-setting some $60,000 per year in tuition.  

The couple says they plan to relaunch the choose2advance program for other young professionals in the Denver community after his niece graduates. 

“I love knowing that when they leave us, they saved all that money. It really is amazing! I love getting to know them, cherish them and often being a mentor as they are launching their careers and lives,” Mike adds. He and his wife remain friends with their temporary residents. 

Visit https://www.choose2advance.com/ to get more information about the program.