5 Financial Tips from a HUD Certified Housing Counselor
Written By: Sherry Pace
April is financial capabilities month! Our HUD Certified Housing Counselors are here year-round to assist you with budgeting, financial capabilities, first-time homebuying, and foreclosure prevention. To help you navigate your finances, here are some top tips from a HUD Certified Housing Counselor:
- Not sure about your budget? Get Housing Counseling. Create a realistic Money Map to help you reach your goals because money management is not managing to spend all your money each month!
- Start building wealth instead of financed stuff. Consider compounding interest and the benefit of building savings and earning interest on interest, instead of paying interest on interest when carrying credit card balances.
- Start saving for retirement as early as possible – those 40 years go by fast!
- Credit affects more than just a home purchase – it affects rates on any type of loan you may want to purchase, your housing choices, insurance costs, and sometimes even employment.
- Review your credit report and future plans with a counselor before making any changes to your credit profile.
Want to know more or need individualized advice? Learn more about our program here, or complete an intake application with our Housing Counseling department here and look out for an email from us!