Financial Resources

Insurance is part of a much larger financial picture.

Keeping your insurance in force can help save on insurance costs in the long run, but your financial history and credit can also influence whether you qualify for insurance with some companies and the cost of that insurance.

Because the ability to get and keep insurance is tied so closely with a customer’s overall financial health, Maryland Auto is committed to providing consumers with the information, tools, and resources needed to understand, improve, and maintain their financial stability.

“I would like to make sure that we are playing our part in educating our customers on strategies and tactics that they can utilize to improve their financial status so they can keep their insurance policies in force and qualify for coverage in the standard market.”

– Executive Director Al Redmer, Jr.

Finance Basics

From Avoiding fraud & scams to Banking and Budgeting, to Loans and Interest, we’ve got the A, B, Cs of finance covered.

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Credit 101

What is your credit score? Why is credit important? How can you check your credit report? And how can you fix your credit?

This page provides important information and resources for understanding and improving your credit.

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Managing Debt

Debt can be overwhelming. These resources will provide information and help for managing debt, researching debt relief services, consolidating debt through loans, and navigating bankruptcy.

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Investment & Retirement Savings

There are many ways that you can put your money to work for you to grow your portfolio, prepare for retirement, or both.

Maryland Auto Insurance is not a financial or investment advisor. All content on this page is intended to be informational only. For financial advice, seek a professional financial planner or advisor.

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Partner Resources:
Consumer Credit Counseling Services of
Maryland and Delaware (CCCSMD)

Who is CCCSMD?

Consumer Credit Counseling Services of Maryland and Delaware (CCCSMD) is a non-profit organization that provides credit counseling, housing counseling, and financial education and coaching.

Among the services offered by CCCSMD are:

  • Debt Repayment Solutions
  • Credit Report Review
  • Mortgage Solutions
  • Homebuyer Workshops
  • Bankruptcy Counseling
  • Student Loan Counseling

Throughout this Financial Literacy site, you will find links to related content from CCCSMD. Visit their blog to review the full catalog of helpful articles available, ranging from budgeting, to refinancing student loans, to the costs of pet ownership.

CCCSMD Online Free Workshop Schedule

CCCSMD also hosts a series of free, online webinars, each month.

Prior to registering for online webinars, CCCSMD requires participants to complete three disclaimers. Click here for links to the disclaimers.

Here are the upcoming workshops for March 2021:

 

Scams and Identity Theft

Join CCCSMD to become more aware of current scams; how to protect against identity theft; indicators of scams and identity theft; how a victim of a scam or identity theft can move forward towards recovery; how being a victim of a scam or identity theft can impact an individual’s ability to secure, afford and sustain housing.

Duration: 1 hour

Mon, May 17 @ 12 noon – register

 

Credit and Credit Reporting

Join CCCSMD to learn how to understand and read the credit report; how to dispute inaccuracies; how a healthy credit report is important in finding, sustaining, and maintaining affordable housing and in meeting other credit needs.

Duration: 1 hour

Tue, May 25 @ 12 noon – register

 

First Time Homebuyer

Interested in buying a home? Join CCCSMD, a HUD-approved housing counseling agency, for our live 6-hour virtually-delivered 1st Time Homebuyers Workshop. The workshop covers all the elements of the home buying process from financial preparation and credit review to mortgage financing and closing.

Duration: 6 hour

Sat, May 8 @ 9:00 am – register

 

Introduction to Homeownership

Workshop topics include the decision to buy or not buy; financial readiness; the importance of the credit report and score; introduction to loan options and lender guidelines; available resources.

Duration: 1 hour

Tues, May 4 @ 12 noon – register

 

Budgeting

Join CCCSMD to learn the importance of tracking expenses; making spending adjustments; understanding the difference between needs and wants; and how a sound budget is important in finding, sustaining, and maintaining affordable housing.

Wed, May 5 @ 12 noon – register

 

Graduation in Debt – Student Loans

Workshop topics include a review of student loan types, preparing for repayment, repayment options, payment postponement, consequences of late payments, and the potential for discharge, forgiveness, and cancellation.

Duration: 1 hour

There are no upcoming events at this time.

 

Building Wealth Through Checking and Savings

Join CCCSMD to learn about reverse budgeting, the importance of finding the right checking or savings account for you, and tips to help you get started today in working toward your savings goals

Duration: 1 hour

Thurs, May 13 @ 12 noonregister

 

Introduction to Renting

Workshop topics include: learning about the process of renting a property, how to best prepare, understanding lease contracts, effectively communicating with landlords and how to best position yourself financially as well as your rights under Fair Housing laws and the importance of credit

Duration: 1 hour

Tues, May 11 @ 12 noonregister

 

Rental Eviction Prevention

Workshop topics include the eviction process & causes, different types of eviction notices, impacts & ways to prevent eviction, discrimination & fair housing.

Duration: 1 hour

Mon, May 24 @ 12 noon – register

 

Managing Finances in Uncertain times

Workshop topics include the mental and physical impacts of financial hardships, the importance of counseling, relevant stats, the difference between wants & needs, debt-relief options, crisis budgeting, and more.

Duration: 1 hour

Thurs, May 6 @12 noon – register

 

Fair Housing

Join CCCSMD to learn about Fair Housing laws and how to file a complaint if you feel your rights have been violated. We will review a brief history of the Fair Housing Act, talk about what is prohibited and list the protected classes. This seminar will also cover housing discrimination and provide examples.

Wed, May 19 @ 12 noon – register

During Financial Education Month, the Maryland Insurance Administration is hosting a weekly series of virtual webinars with topics that may help Marylanders improve their financial well-being.

The series begins April 7 with an “Establishing a Sound Financial Future” webinar, presented in partnership with the CASH Campaign of Maryland. The series continues each Wednesday with topics including a First Time Homebuyer Class, Planning for the Future/Retirement, and Security for Seniors and Families.

Registration information and additional details are available here.

Additional Resources

Federal/National Resources

MyMoney.gov

A free resource from the US Financial Literacy and Education Commission providing links to US Government financial education resources.

Money Smart

A financial education program from the FDIC. This site provides access to online and podcast education resources.

Consumer Financial Protection Bureau

Resources for auto loans, mortgages and reverse mortgages, debt collection, managing someone else’s money, college/student loans, retirement. Also provides resources for financial security later in life (managing debt, keeping medical debt in check, credit cards and deferred interest, etc.)

National Financial Education Network (FLEC)

Provides links to financial education resources of state and local governments.

JumpStart Coalition for Financial Literacy

Personal financial education materials. Many (not all) geared toward a younger audience.

Maryland Resources

CASH Campaign of Maryland

The CASH Campaign of Maryland offers help with free tax preparation, financial education, financial coaching, financial planning, and benefits screening. Every October, CASH Campaign hosts its annual Money Power Day, the region’s largest free financial fitness fair.

 

2-1-1 Maryland 

2-1-1 Maryland is a free service offering access to a wide variety of resources and services including: mental heath services, food assistance,  housing and shelter, utility assistance, substance use, counseling, healthcare, legal and tax service, employment, domestic violence, and more.

 

Maryland Council on Economic Education

MCEE works with educators to develop and provide financial and economic programs and educational materials.  The mission of MCEE is to improve economic and personal finance understanding among Maryland’s children to prepare them to make informed decisions as consumers, savers, investors, workers, and citizens.

 

Maryland Housing and Financial Education Connection

Provides resources for Homebuyer education and pre-purchase counseling, foreclosure prevention counseling, and financial education coaching and counseling.

Spanish/Bilingual Resources

 

Latino Providers Network (Baltimore)

Maryland Auto is proud to be a member and partner of the Latino Providers Network. LPN is a network of over 70 organizations and 200 individual members that provide direct services to the Latino community in the Baltimore Metro region. LPN provides information and resources from network members to the Latino community in the areas of health, education, immigration, business, employment, and arts & culture.

 

Neighborhood Housing of Baltimore

The Financial Coaching program at NHS is designed to help you get ready for homeownership. An NHS Homeownership Coach will help you develop skills to manage money, fix your credit, qualify for a loan, purchase a home, and gain financial stability.

 

Esperanza Center

The Esperanza Center provides services related to education, healthcare, immigration legal matters, family reunification, anti-trafficking, and general community support to improve the lives of immigrants.

 

Centro Sol (Johns Hopkins)

Centro Sol’s mission is to promote equity in health and opportunity for Latinos by advancing clinical care, research, education, and advocacy at Johns Hopkins and beyond in active partnership with our Latino neighbors. They provide resources for education for both students and parents as well as health resources for mental health, physical health, and healthcare clinics.

 

Hands On Banking / El future en tus manos

A free, engaging, and noncommercial financial education program offered as a public service by Wells Fargo. Available in both English and Spanish, the Hands on Banking program teaches people in all stages of life about the basics of responsible money management, including how to create a budget, save and invest, borrow responsibly, buy a home, and establish a small business.

 

¡Adelante Latina!

The mission of ¡Adelante Latina! is to help Latina girls overcome the socio-cultural, economic, and academic barriers they face in pursuing a college career.

 

William & Lanaea Featherstone Foundation

They offer programs and scholarships to assist first-generation students to achieve their dreams of higher education as well as workforce opportunities post-graduation to combat unemployment and underemployment. They are working to bridge the opportunity divide among underserved communities and has improved the lives of hundreds of immigrant families throughout the state.


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