Kent Attainable Housing (KAH), the new nonprofit building homes for low income ownership, is partnering with BB&T Bank now Truist to teach financial management skills to prospective homebuyers. Students in the current classes are all applicants for a KAH home and will need to have a good understanding of credit, loans, assets and liabilities and family budgeting as they become first time homeowners.
Amanda Wallace, cluster branch leader of Chestertown and Millington BB&T banks, teaches the financial classes. “I am passionate about financial wellness,” explained instructor Amanda Wallace at the first workshop. She has also taught folks at the Kent Family Center and students at Kent County High School.
BB&T developed a number of financial knowledge classes for community members including high school students. Their Bank for Your Success curriculum covers three main topics: Banking Basics, Family Budgeting, Becoming a Homeowner.
Their Financial Foundations Program includes 23 online modules designed “to put you in more control of your financial life.” These free interactive courses are available to anyone who signs onto the BB&T website at https://www.bbt.com/education-center.html.
“We are so appreciative,” shares KAH president Lani Seikaly, “that BB&T has developed this extensive financial literacy curriculum for adults and high school students and for Amanda’s knowledge and passion in teaching it. Our applicants have told us that if they had only known known earlier what they are now learning, they would have made very different financial decisions in their younger lives.”
During the first class, Understanding and Improving your Credit Score, Wallace identified some common mistakes that can hurt your credit rating.
Maxing out a credit card
Closing an old account
Applying for too many things in a short amount of time
Not using credit at all
Only using one type of credit
To access one’s credit report, Wallace recommends the free web site https://www.annualcreditreport.com/index.action.
Wallace has also led a workshop on Family Budgeting, a Credit Cards and Loans class and has added another Improving your Credit Score workshop coming up. Additional classes will be offered as applicant needs are identified.
For information about Kent Attainable Housing, call 443 282 0622 or email firstname.lastname@example.org.
Amanda Wallace with BB&T now Truist Bank teaching a Financial Literacy class. Photo by Muriel Cole