April 10, 2021- Did you know that April is Financial Literacy Month? We scoured the internet searching for the best financial gurus, took Hyannis-based Housing Assistance Corporation’s Money Matters class, researched banks with the best fees (i.e. no fee), and emailed non-profit credit advisors to learn the best ways to get credit scores as high as they can get. Now, all month long, we will share our tips with our followers on Instagram and Facebook. If you aren’t following us, be sure to find us using the social links below so that you don’t miss any of the tips and tools we’re sharing.

Our goal at Housing Nantucket is for everyone in our year-round community to be in safe and affordable housing. Raising the level of financial education gives residents a leg up in being successful in getting a new home. For example, when getting a mortgage, banks require a credit check and two years of back bank statements. Our content this month is 100% geared towards preparing to be the best applicant you can be. We’ll cover financial goals, budgeting & saving, tackling debt and credit. Because this is such an important ongoing topic, we will be doing a recurring Money Matters series even after April ends, with new posts geared toward financial well-being, every Monday on Instagram and Facebook. Be sure to set up notifications so you’ll get a message whenever we post new content!

Here’s an excerpt from one of our Money Matters posts:

Try this: come up with 3 specific financial goals. Write them down, put them some place where they’ll be visible daily, and *bonus points* share them with a friend to keep you accountable. Be very specific!! Identity WHAT is your goal (“I will save $500″), WHEN you will achieve it (“I will save $500 by September 1st”), and HOW you will achieve your goal (“I will save $500 by September 1st by cancelling one premium channel on my cable service, one streaming service, and making my daily coffee at home instead of stopping at the coffee shop on the way to work”).

Writing things down with pen and paper is actually is neurologically proven to make your brain PAY ATTENTION thus giving that goal some real power. It also acts as a visible reminder. Sharing your goals with others helps create a community invested in helping you achieve your goals. Like financial gym buddies! You’ll find the Financial Goals Worksheet by @thebudgetnista and @myfabfinance in our Instagram bio. Use these to help define and clarify goals.

For those of you that are a bit more analog, come pick up a FREE workbook at Housing Nantucket’s 75 Old South Road office. We have a limited amount of books from the Consumer Financial Protection Bureau that you can use to help you financially plan. Start with creating a budget, catch up on debt, build/repair credit. We hope you’ll find these financial tools and content helpful on your path to home rental/ownership. Please let us know if there is anything specific you’d like us to cover in future posts.

For more information like this, be sure to take our First Time Homebuyer Education class. The fall session begins Oct 6, 2021. Sign up here.