COVID-19 has thrown so many lives for a loop! Some have experienced reduced hours, some have lost commission, some have lost their income entirely. Every person has different struggles and I just wanted to gather a few options that might help everyone make it through.
2020 CARES Act Stimulus Package
This article has a great breakdown with helpful visuals for anyone who is still wondering about how the stimulus money is being distributed.
Discounts
Many banks and businesses are providing discounts and deferment during this time of uncertainty. If you have lost income, I highly recommend you speak with every one of your bill collectors and ask what policies they have in place to help during COVID-19’s ransom of the economy. Here are some examples:
Car insurance companies are offering various discounts and rebates during lockdown due to people driving significantly less:
Many Banks are offering deferment of mortgage and other loan payments, extending the loan repayment period on the back end.
This article outlines what it means for student loan borrowers and what you can do! Federal Student loans are in forbearance until September 30th 2020. This means payments are not due and your loans are earning 0% interest during this time as well. Check your student loans and see if they qualified for this benefit!
https://studentaid.gov/announcements-events/coronavirus…
Many utilities companies are suspending fees and cutoffs for nonpayment.
These are some of the trends that I have seen, but you should check with each of your bills individually to see how your budget will be affected.
Food and Household Goods
If you have lost income or been unable to buy groceries due to COVID-19, you can fill out this emergency assistance application to receive groceries delivered for free. They are doing the best they can to help everyone who applies.
https://fullcart.org/good-deeds-apply/
Credit Report
Annualcreditreport.com is now making your credit reports available weekly, by mutual agreement between Transunion, Equifax, and Experian! Beware COVID-19 fraud and check your reports!
New Loans:
If you’re not able to make ends meet with the resources listed above, you may still need to rely on credit and that’s okay! But if you can, try not to reach for the most convenient credit card, as they probably will charge you a ton in interest. Check out some of these COVID-19 loan offerings with great low interest rates!
I hope you were able to find something to take advantage of within this article! If you did, please share with your friends and family who might also find value here.
If you want to spend a few minutes with me and see where you might be able to find room in your budget, you can schedule a free consultation here!