1.3 Managing Assets

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Module Summary
As clients learn how to manage money, they will need guidance from housing counselors to recognize their options for safeguarding and building their assets. In this module, you’ll learn about different types of accounts and account features at financial institutions, such as banks or credit unions. Next, you’ll learn to emphasize the importance of short-term savings and retirement savings. Last, you’ll learn to identify opportunities for clients to take advantage of opportunities to increase income through income tax credits.

Learning Objectives
By the end of this module, counselor will be able to:

  • Comprehend key attributes of different banking accounts available at a bank or credit union, including fee structure and access to funds.
  • Explain the importance of establishing an emergency fund and short-term saving funds for large purchases.
  • Explain the importance of saving for retirement and the benefits of tax-incentivized accounts.
  • Identify the tax credits for which clients may be eligible and how to apply for them.