Focus on Finance for Women’s History Month
Homeownership is one of the staples of the American dream. You work hard, you save money and pay bills on time. So, why is the purchase of a home out of reach for some people? It is partly due to the banking industry and unfair lending practices. Also, this is attributed to bad consumer credit and lack of funds.
We are living in times of inflation; again. It makes it hard to stay on top of basic living expenses and amenities. However, in spite of inflation homeownership is achievable. So is good credit. We can start by trying to reduce our debt-to-income ratio. This is one of the factors banks use in the application approval process. Lowering debt-to-income ratio means to have more money coming in than going out. Many times we spend more and save and/or invest less.
Paying bills on time also boosts credit scores. If you are in the market to make a home purchase, you may want to pull your credit report. By doing so, you have the opportunity to check for accuracy and any errors that may be preventing you from obtaining a loan. Also, you can assess what accounts you need to pay off. Correcting errors on your credit report takes a little effort, but it is within your power to change it in the best interest of your financial future.
Did you know? It wasn’t until the early 70s that women were allowed to purchase property in their own name. In years before that, a women could not own property without her husband co-signing.
Homeownership is lacking within minority communities. That brings me to the Focus on Finance for Women’s History Month. Benaisha Poole-Watson fits the theme of ‘Women Telling Our Stories’. She is a catalyst in the real estate market and understands the challenges. Being the owner of Prime One Home Loans, she not only owns the bank but helps to educate about building wealth. She has created solutions for people who are having hardship with obtaining a home loan.
To add to that, she is also a military veteran. She has served in the United States Air Force. Mrs. Poole-Watson, among many other African American women, have broken down the barrier of women serving in the military. Let’s salute Benaisha Poole-Watson for her contribution to the country through her military service. Also, for opening doors and creating change and help in obtaining real estate.
Did you know? At one time, women were not allowed to serve in the military outside of kitchen and domestic duties.
Focus on finance for women’s history month and learn more about the inspiration of Benaisha Poole-Watson at Home – Benaisha Poole Watson
