celebrate financial capability month by setting a goal |
April is National Financial Capability Month and serves as a reminder that we all have the potential to be financially empowered. If you’re interested in homeownership, your financial health is vital. No matter where you are along the spectrum, take a moment to set a goal for yourself. Below are some ideas and resources.
"I am facing hardship."
Potential goals:
Establish or revisit your budget.
Look closely at how you are spending your money and make a plan to maximize your income. Check out CHFA’s spending plan worksheet.
Apply for assistance.
There may be opportunities to get assistance based on the nature of your hardship and many new programs have been created for those affected by the pandemic. Research options with your creditors and community. Also, visit CHFA’s Community Resources webpage.
"I am comfortable financially; however, I have debt."
Potential goals:
Make a payoff plan.
Depending on the kind of debt you have, different payoff plans may meet your needs. One option is “debt stacking” or the “waterfall method,” with which you pay more than the minimum required payment every month on the smallest debt first. Once it’s paid off, repeat with the next smallest debt.
Talk to a pro.
"I feel financially free."
Potential goals:
Grow your savings.
Evaluate your savings and decide how you can increase or optimize your fund. Think about retirement, college, or other future goals and research what options may work best for your situation. Visit mymoney.gov for more tips.
Prepare for the unexpected.
Emergencies and disasters happen and it’s important to be financially prepared. Having money available as well as your important financial documents are key to withstanding a sudden hardship. Visit ready.gov to learn more.
No matter what your individual financial situation is, the above-listed goals are important to consider and aim for when and if they are the right fit. Taking a CHFA-sponsored homebuyer education class may also help you learn more and feel prepared for the homebuying journey. Learn more here.
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aria homes kicks off construction |
Habitat for Humanity of Metro Denver, Inc. recently celebrated start of construction on Aria Homes, which will provide 28 new Habitat homes in Aria Denver, a community in north Denver offering various housing opportunities mixed with neighborhood retail. Aria Denver features affordable apartments, townhomes, and intergenerational cohousing condominiums.
CHFA plays a role in helping build communities like Aria Homes through a $20 million investment in Habitat’s new mortgage program, which helps Habitat turn existing mortgages that it originates into resources to build more homes. CHFA Executive Director and CEO, Cris White, spoke at the celebration, which was livestreamed on Facebook and may be viewed here.
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Colorado Housing and Finance Authority
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With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex, age, national origin, disability, or any other protected classification under federal, state, or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm. |
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