in ,

5 Ways to Rebuild Finances During COVID-19

5 Ways to Rebuild Finances During COVID-19

To many, 2020 has felt like the plot of a bad, post-apocalyptic movie, one in which the main characters are long overdue for a reversal of fortune. While it’s true that, as of writing, the stock market is back in the green, and unemployment rates are falling from their highs earlier this year, the grim reality is that, for many of us, the coronavirus impacted our financial livelihoods in a very real way. 

Some lost income via layoffs, reduced hours, or pay cuts. Some had to use hard-earned emergency or retirement funds to pay for health expenses, rent, childcare, or groceries. Others panicked as the stock market fell, and sold their stocks for less than they were worth earlier in the year. If that’s you, you’re likely asking, where do I go from here? While everyone’s situation is unique, there are a few principles that can help you get back on track.  

 

1. Take advantage of assistance.

Legislation passed over the past six months has temporarily increased unemployment assistance, waived interest on federal student loans, increased the amount that you can borrow from your 401K (warning: last resort!), and more. Look into what help might apply to you, and take advantage of it. You might even try giving your private student loan lenders or credit card companies a call to ask whether they might offer temporary relief. The worst that they can say is no.  

 

2. Take a…

5 Ways to Rebuild Your Finances, Even During COVID

To many, 2020 has felt like the plot of a bad, post-apocalyptic movie, one in which the main characters are long overdue for a reversal of fortune.



5 Ways to Rebuild Finances During COVID-19

This post was created with our nice and easy submission form. Create your post!

What do you think?

1023 points
Upvote Downvote

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0
California man arrested in Florida cold-case murder of 16-year-old stepdaughter

California man arrested in Florida cold-case murder of 16-year-old stepdaughter

Cardi B Sparks Pregnancy Rumors With Viral Cookie Post

Cardi B Sparks Pregnancy Rumors With Viral Cookie Post