Financial Literacy

Budgeting, credit And savings


Are you ready to get on top of your finances?


The Significance of financial literacy:

The Marvin Thomas Memorial Fund is proud to provide free literacy and financial training. Our financial literacy services include the resources and information for the educational purposes of upgrading their financial standings and financial stability.


How can we help you from here?

Allow us to assist you with our services for financial literacy, which begins just with your single step of completing the virtual registration form given below!

Take Our Next Virtual Credit online Counseling Workshop!

Is your credit keeping you from acquiring a work, making a huge buy, or making sure about stable lodging? This Credit Counseling workshop might be for you!

About the Workshop

This is a free two-hour workshop to assist you with improving and comprehend your credit standing. Credit Counseling workshops are accessible for all ages and genders! Members can hope to be furnished with the accompanying data:

  • Get a duplicate of your credit report
  • Figure out how to peruse and comprehend your credit report
  • Comprehend why a credit report is required for financing and how it can impact your spending
  • Realize what things sway your credit score rating and how to utilize them to your advantage
  • Find out about the Fair Debt Collection Practice Act
  • Discover approaches to improve your credit score

Workshop Schedule

Credit Counseling workshops are held once a month on the 4th Tuesday of the month — unless otherwise noted. Here’s a list of upcoming Credit Counseling workshops:

  • 8/26: 6:00PM – 8:00PM
  • 8/27: 10:00AM – 12:00PM
  • 8/28: 6:00PM – 8:00PM
  • 8/29: 10:00AM – 12:00PM

Workshop Location

Each Credit Counseling workshop is held essentially online by means of eventbrite. You may join our workshop by tapping the "Join the Next Workshop" catch to begin!


Seating is restricted! People with an interest in partaking in a Credit Counseling workshop should enroll to guarantee seating accessibility. In case you're keen on joining us, kindly snap the Join the Next Workshop catch to enlist on the web or call 206.461.3792 to enroll by telephone.

Credit 101

What is credit and why is having good credit so important? Whether you’ve given serious thought to improving your financial standing or just want a better idea of what it means to have a credit score, this section will provide you with all the basic information you need to help you make the right decisions when it comes to understanding the importance of credit.

What is credit and why do I need it?

Credit is borrowed cash you can use to make huge buys (i.e – homes, vehicles, and so on) or speculations when you don't have the cash to spend in advance. You can get credit through a bank or loan specialist, whom you consent to take care of at a settled upon time and date. How much cash you can get relies to a great extent upon your credit score and acquiring history. There are a few reasons why establishing credit is a significant and important errand, nonetheless, here are our best 3 reasons why you ought to consider getting your credit into shape: Improves the probability of being affirmed for advances to assist with enormous buys like homes and vehicles Improve your odds of leasing during the landlord choice cycle

What is a credit score?

Your credit score is a three-digit number that identifies with the fact that you are so prone to reimburse obligation. You can likewise consider it an evaluation for how dependably you've overseen advances, credit extensions and other financial commitments throughout the long term. Credit scores are critical in light of the fact that they influence your capacity to acquire cash just as the expense of doing as such. Credit loan specialists (like banks and other financial organizations) survey your credit score to decide financial risk. Which means — in the event that they loan you cash, offer you credit or give you merchandise and enterprises ahead of time, will you repay them? Your financial risk can be an appraisal of:

  • Your present your pay
  • The measure of time you've been utilized by the same employer
  • The measure of time you've spent at your present perpetual location
  • What sorts of resources you have
  • Credit scores can commonly go somewhere in the range of 300 – 850. The higher your credit score, the better and the almost certain you are to get credit benefits. Because of the high financial vacillation inside the U.S., the normal credit score fluctuates incredibly among various socioeconomics, ages, and pay levels.

How do I establish credit?

There are a few manners by which you can start to establish your credit history. Here is a short list of the most regularly utilized techniques:

  • Open your first credit card: If your credit history is restricted, search for a credit card with a low spending limit (which might be simpler for you to fit the bill for). Make little buys on your credit card (i.e – gas, staple goods or a little bill) that you can pay off effectively and on schedule. Be cautious about high financing costs. Pay your full equilibrium consistently and you'll see your credit score start to rise.
  • Get a made sure about credit card: If you have restricted credit history or any negative effect on your credit score, you might need to attempt a safe credit card to start constructing your credit. Made sure about credit cards are typically attached to a bank account, and the cutoff on the card is the sum in the record or a level of it. Also to a credit card, you assemble credit with a made sure about card by making dependable charges, keeping your equilibrium low or at zero, and paying on time each month.
  • Open a joint credit account or become an approved client: If you've experiencing difficulty fitting the bill for a credit card all alone, you might need to consider opening a joint record with somebody who has great credit, or turning into an approved client on another person's credit account. For joint records, you are answerable for reimbursing charges on the card, and so is the other record holder. On the off chance that you don't reimburse cash borrowed on a joint record, the joint cardholder should, or the other way around. In the event that you choose to go this course, ensure the individual is somebody you trust or you can risk hurting your credit score more than you will improve it.
  • Get an automobile credit: Car advances are among the most effortless to acquire and meet all requirements for (however loan costs and terms can differ extraordinarily relying upon your moneylender). In the event that you experience difficulty finding an automobile advance all alone, another choice is to discover somebody who will co-sign for you. Vehicle advances are accounted for to credit authorities and will improve your credit score whenever paid on schedule.
Keep in mind, credit is not "free cash." Whatever you get must be taken care of in full and on an ideal opportunity to dodge negative effect on your credit score.