Home Economics
Owning a home is the American Dream. It’s a great way to create wealth and pass it on to your family…
to build a nest egg for college or retirement… and to protect against life’s setbacks.
It starts with being smart about money.The U.S. Department of Housing and Urban Development (HUD) wants all Americans to manage
their money and have the option of preparing for homeownership.
The Key Steps:
Set a goal to save a certain amount of money each month then stick to it.
Prioritize your family’s spending needs so that saving becomes second-nature.
Communicate early and often with companies or banks you owe money to so you can work out problems before they grow larger.
Know your credit score and what it means to banks and credit card companies and your future.
Read (and Understand) the Fine Print
Consider all the options, educate yourself, and be informed before you sign on the dotted line.
Resources are available from the federal government and non-profit and business groups. Many are free and on the Internet. If you do not have Internet access, visit your local public library or HUD-sponsored Neighborhood Networks.
