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Demystifying the Amortization Schedule

Amortization. It can be a daunting word, but it’s not as complicated as it sounds. When it comes to mortgages, amortization refers to a debt being paid down with fixed monthly payments over a fixed period of time. A typical home loan is made up of two components, principal and interest. The principal amount of […]

America Saves Week – The Savings Journey

During the week of February 22, 2021, CCCSMD along with many other organizations across the country are celebrating America Saves Week. Throughout the week we have been sharing savings tips to get you started on achieving your financial goals.  Armand Goytia and David Hall from CCCSMD are excited to share their savings journeys with you […]


Fair Housing

CCCSMD, a HUD-Approved Housing Counseling Agency, supports and promotes Fair Housing and Housing Discrimination education. As the new year approaches, many people may be ready to make homeownership their New Year’s Resolution and others may be preparing to sign new rental agreements or lease renewals. Before embarking on these endeavors, it is important to know […]

Saving Money through Meal Planning

For many people, food can be the hardest line item in their budget to manage.  One of the most common money saving tips for food is meal planning.  However, the thought of meal planning may be overwhelming, especially if you typically live a fast paced, busy life.  If you have school aged children involved in […]

Credit Card Debt and the Myths to Consider

Have you ever noticed how frequently you receive credit card offers? They may come in the mail, through email, or when you make a purchase with online retailers.  Often, these solicitations will say that you are pre-approved and that your purchase would be worth so much more, either in savings or rewards, if you open […]


Rental Eviction Prevention During the COVID-19 Pandemic

We are facing extraordinary challenges during the COVID-19 pandemic.  Unemployment rates are high and a partial or complete loss of income for many Americans is leading people into financial crisis.  For those who have had a sudden loss in income this year, you may be worried about meeting your financial obligations, such as housing payments […]

Financial Success amidst COVID and the Holiday Season

This year has been challenging for everyone, and we are all still adjusting to living in the midst of a global pandemic. On top of that, we are now entering one of the most financially stressful times of the year: the holiday season. Many families have lost members and friends to the virus. Hundreds of […]

Holiday Shopping with Anything but Cash can quickly turn into DEBT

As you start to create your holiday gift lists, you will likely encounter retailers – including online retailers – that are offering layaway services as well as “buy now, pay later” plans (through online providers such as Quadpay, Sezzle, PayPal credit, etc).  Before you take advantage of these programs, ensure you understand the implication they […]

The Financial Life of Pets

One of the most heartwarming scenes in movies is when a child receives a puppy he/she has been wishing for.  The first few moments when a dog meets its new owner, or when they are reunited after a long time apart, can make even the strongest person cry.  Images like these inspire people to buy […]

Costs of Homeownership

House hunting is a very exciting process and as you start to zero in on that perfect home, you need to dig deeper into your budget.  How much of a down payment will you need? How much will your monthly mortgage payment be? What interest rates can you get?  These are common questions that help […]


Understand the Federal Tax Deferral before it’s too Late

If you are a federal employee or member of the military, the 6.2% social security tax withholding on your regular paycheck is currently on a mandatory deferral until January 2021 if your taxable wages are below a certain threshold; $4,000 per pay period for federal employees and $8,666.66 per month for military service members. Employees […]

Is Now a Good Time to Refinance Student Loans?

Interest rates are low, so it is the perfect time to refinance, right? Not necessarily! Whether a “refi” makes financial sense will depend on several factors related to your personal portfolio of loans.  Here are a few tips to consider before making your decision. Consider any benefits you stand to lose by refinancing with a […]

Positivity in a Pandemic

The news, social media and likely your phone calls with friends lately have been filled with doom and gloom.  COVID-19 has changed our lives. For many people, the changes have not been welcome or enjoyable and are far from over.  There will be repercussions from this pandemic that will shape our society for years to […]


Affordable Summer Fun while Social Distancing

Every summer brings the challenge of trying to cram as much fun into two months as possible without depleting your bank account.  Summer of 2020 brings the added challenge of having fun while following the CDC recommendations for social distancing. For those with children, this summer might start to feel endless as schools push back […]