Financial Fitness

Adapted from the FDIC Money Smart Curriculum and Freddie Mac’s Credit Smart Program, Financial Fitness is a consistent and standardized program designed to help very low to moderate income individuals understand basic financial services, develop money management skills, and learn how to use banking services effectively.

The training will provide clients with a new framework for handling their personal finances and reinforcing their confidence in money management and moving them to a point where they can actually buy and keep their own home.The full course will cover goal setting, financial record keeping, budgets, saving, credit and credit use and consumer awareness.

Procedurally, a certified on-staff Financial Fitness Trainer will be responsible for conducting the class and will meet with clients on a one-to-one basis.  A certificate of Completion will be provided to participants at the end of the course.  This certificate will be required to enroll in the Individual Development Account (IDAs).  IDAs are special savings accounts where participating financial institutions will match every dollar with two dollars, to enable individuals to accumulate savings for ”big ticket” items such as a home, a college education, or to start a business.  Families deemed ready to move on to homeownership, will be invited to continue their education by completing homebuyer training.

       Topics to be covered are:

• Bank On It – Bank Services
• Money Matters –How to keep track of your money
• Pay Yourself First – Why you should save, save, save
• Check it out – How to choose and keep a checking account
• To Your Credit – How your credit history will affect your credit future
• Borrowing Basics – Credit
• Loan To Own – Know what you’re borrowing before you buy
• Charge It Right – How to make a credit card work for you
• Keep It Safe –Your rights as a consumer
• Your Own Home –     What homeownership is all about?