If you grew up hearing “never take on debt” or “just pay whatever the bank says,” you’re not alone. Many of our community members told us they avoided loans entirely because the fine print felt intimidating, which is why we created the Understanding Loans & Credit guide—a plain-language toolkit that breaks down the essentials without judgement.
What’s Inside
- Credit score explainer: What the numbers mean, what actually affects your score, and how to track it without paying a cent.
- Interest rate decoder: APR vs. simple interest, how to compare offers, and questions to ask before signing.
- Loan comparison worksheet: A printable page where you can plug in real offers side by side, so the best choice jumps off the page.
- Conversation prompts: Scripts you can adapt when discussing loans with partners, teens, or financial advisors.
The guide is especially helpful for newcomer families, youth transitioning into college or work, and any adult who wants to feel confident the next time a bank or retailer pitches a financing plan.
How To Use It In Your Programs
- Host a “credit confidence” night—hand out the guide, walk through the worksheet together, and invite local credit union reps for Q&A.
- Pair it with our budgeting workshop so learners leave with both a spending plan and a smart borrowing strategy.
- Share it as pre-reading before one-on-one coaching sessions to give folks language for the questions they want to ask.
Financial literacy doesn’t have to be stuffy. When people understand the basics, they can make strong choices that support their goals.