One of the building blocks of financial health is having a good understanding of credit – including how to use it responsibly.
Wells Fargo is proudly sponsoring this month’s Financial Literacy supplement in the hope of exposing readers to financial tips and tactics that will help them not only manage their finances well but also make smart use of credit.
Recently, we launched a video series called “Making it simple: A conversation about buying your first home.” The series was put together with the help of a variety of financial bloggers as well as Cy Richardson of the Urban League and Kristy Fercho, head of Wells Fargo Home Lending.. Our hope was to help potential buyers – especially in the African American community – explore the homebuying process in a way that is engaging and informative. Readers can find the series by visiting our playlist on youtube (https://www.youtube.com/c/wellsfargo/playlists).
In this supplement, we also explore two other very important topics that touch credit. The first is to help consumers better understand their credit scores. As we share in the article, a credit score is part of your financial power and it can be a valuable tool to help you achieve your future financial goals.
The second topic is one that is important to many homeowners. We provide a step-by-step guide for homeowners who entered a forbearance payment plan during the pandemic because of financial difficulties. Many of those plans will end this year, so it’s important for those homeowners to take action now and call the servicer for their home loan so that they are exploring the best possible options to exit their plan. This is an important part of our commitment to sustainable homeownership, and we want to help as many homeowners through this process as we can.
As you can see, credit is a vital part of your overall financial health, and there are lots of topics to explore when it comes to getting credit, evaluating credit and keeping your credit healthy. Please take a look at the entire supplement and visit our resources online at www.wellsfargo.com/myfirsthome orwww.wellsfargo.com/goals-credit/smarter-credit/ to learn more and continue your credit education!