Financial Literacy

About Course

This course provides foundational knowledge in financial literacy, equipping participants with essential skills to manage their finances effectively. Topics include budgeting and credit management, smart financial decision-making before and after purchases, and housing counseling strategies through the Housing Counseling Services Work Plan. Participants will learn practical techniques to build financial stability, improve credit, and make informed purchasing and housing decisions.

How to create and manage a personal budget
The importance of saving and how to build savings strategies
Understanding and improving credit scores
The basics of loans, interest rates, and debt management
How to make informed decisions about insurance
The impact of taxes on personal finances
How to plan for retirement and understand different retirement accounts
The differences between needs and wants in financial decision-making
How to set and achieve financial goals
How to evaluate financial products and services (bank accounts, loans, investments)
Strategies for managing financial risks
The role of investing in building wealth
How to avoid and address common financial scams and fraud
The basics of real estate and homeownership finance
How to evaluate the cost of large purchases and financing options
The principles of financial planning for short-term and long-term needs

Course Content

Topic 1: Budgeting / Credit
This module covers the fundamentals of budgeting and credit management, helping participants develop effective financial plans and maintain healthy credit. Key topics include creating a realistic budget, tracking expenses, understanding credit scores, managing debt, and using credit responsibly. Participants will gain practical strategies to improve financial stability and make informed financial decisions.

Lesson
Case Study
Self Assessment

Topic 2: Post-Purchase Financial Management
This topic focuses on managing finances after making a purchase. It emphasizes strategies for tracking and managing ongoing payments, such as loans, credit card bills, or subscription services. Key principles include setting up payment reminders, avoiding unnecessary debt, and ensuring that purchases align with your budget and long-term financial goals. Effective post-purchase management helps prevent financial strain, keeps spending on track, and supports maintaining a healthy credit score.

Topic 3: Pre-Purchase Financial Management
This topic focuses on preparing for significant purchases by assessing your financial situation and setting a clear plan before making any buying decisions. It emphasizes the importance of budgeting, saving, and researching options to ensure that purchases align with your financial goals. Key concepts include evaluating your current financial health, understanding the total cost of ownership (including hidden costs), and determining whether you can afford the purchase without compromising your savings or accumulating unnecessary debt. Proper pre-purchase management helps prevent impulse buying and ensures smarter financial decisions.

Topic 4: NELCDC Housing Counseling Work Plan
This topic covers the NELCDC Housing Counseling Work Plan, which is designed to guide individuals and families through the process of purchasing and maintaining a home. The work plan outlines steps for providing effective housing counseling services, including budget creation, credit improvement, and understanding the home-buying process. It also focuses on helping clients identify their housing needs, access available resources, and prepare for long-term homeownership. The plan emphasizes education and support throughout the home-buying journey, ensuring clients are equipped to make informed decisions and achieve sustainable homeownership.

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About Course

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Course Content

Lesson

Case Study

Self Assessment

Lesson

Case Study

Self Assessment

Lesson

Case Study

Self Assessment

Lesson

Case Study

Self Assessment

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