Financial Literacy

Money Smart/Financial Literacy
SCH provides financial fitness workshops that focus on budget preparation, money manage­ment and the importance of financial responsibility. These workshops educate, encourage and empower clients to take steps to rectify their current situation and move towards better financial fitness and self-sufficiency. For many immigrants, these classes are an introduction to the American banking system. Through these classes they gain the skills to increase their credit scores and become loan-ready. Workshops are available in both English and Spanish. About 90% of those taking Money Smart classes are women.

Credit Restoration
Spanish Coalition for Housing assists individuals to improve their credit rating. Our counselors help individuals obtain credit reports for review so that they may understand what goes into their credit history. If necessary, the counselor helps prepare a plan to correct any derogatory credit. This may include follow-up and negotiations with creditors to agree to reduce debt or set up a payment plan for improving credit scores. There are times when items are incorrectly reported on credit reports. In situations like these, SCH helps individuals prepare and send letters directly to creditors to correct the credit bureau information. SCH has an excellent track record of getting individuals credit ready to buy homes. Credit restoration is offered in conjunction with financial literacy classes so that individuals can maintain good credit records throughout their life.

Tips
Financial literacy and homeownership best practices booklet
Establishing and restoring credit
Consumer protection laws

Forms
Credit report dispute form
Daily expenditures worksheet

Other useful website links