Habitat homeowners don’t just help build their homes – they also learn how to take control and manage their finances through our financial literacy program. This is a key element of the Habitat homeownership program that changes lives and creates better futures.
When you take control and manage your finances you can set funds aside for emergencies, afford a reliable vehicle and even have money for “extras” like vacations.
All future homebuyers must complete 40 hours of financial literacy courses that focus on things such as budgeting, credit cards and credit reports, debt and loans, saving, investing and planning for the future and emergency situations. We also cover Habitat homeowner mortgages, clearing up debt, creating and living within a budget, understanding the importance of your credit score, and insurance. Right now, this education is accomplished through online classes with experts in these fields. Future Habitat homebuyers also are partnered with budget coaches who serve as mentors.
Desiree is now a goal-setter
Desiree purchased her Habitat home a year and a half ago and says owning the affordable home, combined with the required financial literacy classes have improved her life immensely. “I’m able to think about my future and the goals I want to reach,” she says. “Habitat set me up to be a successful homeowner,” Desiree says. “The budgeting is on point!”
Reliable vehicle a game-changer
Owning a reliable car has been a game-changer for Cherity who purchased her Habitat home six years ago. “I had a minivan and it was just one thing after another,” she recalls. ” The heat would go out or it would be the water pump. It didn’t matter – It was just so much all the time “
Cherity’s home – like all Habitat homes – has an affordable zero percent mortgage. Monthly mortgage payments average about $450-$550. It also has lower utility bills because it’s energy-efficient. These factors made it possible for Cherity to purchase a reliable vehicle. It’s a huge stress reliever. “I don’t have to worry that I’m going to break down,” she says. “I don’t have to worry I’m going to miss work”
Because she is able to save money every month and has a reliable vehicle. Cherity and her sons now can take car trips to visit relatives who live out of state.
Classes are open to everyone – not just Habitat homebuyers
Our financial literacy classes are open to everyone – not just for our future homebuyers who have applied and been accepted into our program! We believe everyone can benefit from the courses. If you’d like to attend an online class just contact [email protected] or call (316) 269-0755.
More details about Wichita Habitat’s homeownership program are here.