Frequently Asked Questions

Your credit score is a critical factor in determining your ability to borrow money. Improving your credit score requires paying your bills on time, reducing your debt, and avoiding new debt. A financial counselor can help you understand your credit score and develop a plan to improve it.

A financial crisis can be a challenging and stressful time, but it is essential to remain calm and seek professional advice. A financial counselor can help you explore your options and develop a plan to get back on track financially.

Renting a house can provide flexibility and lower upfront costs, while owning a house can provide long-term financial benefits and greater stability. The decision to rent or buy a house depends on your personal circumstances and financial goals. A financial advisor or counselor can help you weigh the costs and benefits of each option.

The amount of house you can afford depends on your income, credit score, debt-to-income ratio, and other factors. A general rule of thumb is to spend no more than 28% of your gross monthly income on housing expenses, including mortgage payments, property taxes, and insurance.

Minimizing student loan debt can be done by applying for as much financial aid as possible, choosing an affordable college, and working part-time while in school. A financial counselor can also help you create a plan to pay off any existing student loan debt.

Estate planning is important to ensure that your assets are distributed according to your wishes after you pass away. A financial counselorcan help you create a will, establish trusts, and designate beneficiaries for your assets.