The COVID-19 pandemic is first and foremost a public health crisis, and people’s safety and wellbeing should be their primary concern. However, as the strain from COVID-19 is felt on the American economy, an increasing number of workers are feeling a financial squeeze and it appears as if the long-term effect could be a personal finance crisis as well. If you find yourself struggling to come up with cash to pay for everyday items, it can be easy to make money moves to help you today that you end up regretting down the road. For those who have found themselves in a financial pinch where they need money ASAP, here are some available options, along with their pros and cons.
“Disasters have the potential to bring out the best in people,” said Howard Silverstone, CPA, CFF. “Unfortunately, disasters also bring out the worst in some people, and we are seeing that now with scammers using the COVID-19 outbreak to try to steal personal information and money from those who want to help.”
CPA fraud experts offer tips to help Americans navigate potential scams and avoid being targeted.
Unemployment is an incredibly stressful experience for even the most well-prepared individual. If you have found yourself recently out of a job, there are steps you can take right now within your power to minimize the financial damage and prepare for a new position and opportunities.
How can you decide between saving for important goals and paying down debt balances? Truthfully, much of it is a matter of balance. While every situation is unique, here are some common rules of thumb.
For many, increased market volatility may actually signal an opportunity. But be aware of your risk tolerance.
Money is one of the biggest stressors in many American’s lives. A 2017 AICPA survey found that 56% of Americans said debt negatively affected their lives, and 39% said the debt made them feel anxious while 21% said it caused tension with a spouse or partner. And the Institute for Divorce Financial Analysts found money issues to be the third leading cause of divorce.
The term is familiar to almost everyone, however, there is a lot of confusion about what bankruptcy means.
First, it's important to understand what filing bankruptcy will and will not do for your finances.
As the bills start to roll in for people treated for Covid-19, it's especially important to be aware of your rights and how to best handle bills that you can't pay immediately. If you were diagnosed with and treated for Covid-19, make sure you understand how the specific laws enacted could help. If your bills are for other reasons (even just follow-up issues such as pneumonia after surviving the coronavirus) the rest of the steps can help you too.
Spending & Saving
By now you've hopefully heard that the IRS is getting ready to send out economic impact payments to eligible US taxpayers to help ease the financial impact of the COVID-19 impact. Here are some suggestions on how to best use the money to protect your financial future.
The level in which interest rates impact your personal finances depends on whether you are a borrower, a lender or an investor- you can be one or all these things at any given time. Learn more in this article.
The COVID-19 pandemic is having a devastating impact on the nation’s economy. More than 33 million people have lost their jobs, businesses across the nation have shuttered or declared bankruptcy, and a major drop in the stock market clobbered many people’s savings and retirement investments. But there are opportunities to use this time to take stock of your current financial situation and establish habits that put you on a stronger financial footing once the pandemic ends and the economy recovers, or for when the next economic downturn hits.
For most homeowners, their mortgage is their biggest monthly expense. But job losses around the country are hammering people’s finances, causing challenges for managing their cash flows and leaving many to wonder how they will pay their mortgage and maintain their home.
While things may seem grim, there are options for homeowners struggling to pay all their bills.
The Work World
Whether you’re a gig worker providing rideshare services or food delivery, consulting as an engineer or analyst or freelancing as a writer or editor, from a wage, tax and benefit position, you’re essentially self-employed. For those new to that classification, the financial considerations can be a real eye-opener. This article will help.
A higher salary. More job security. Doing what you love. Fewer hours. More travel. Changing careers can be rewarding for many reasons, but career transitions don't always go smoothly. Your career shift may take longer than expected, or you may find yourself temporarily out of work if you need to go back to school or can't immediately find a job. Planning for the financial impact can make the transition easier.
Just as organizations ask questions and do research to check out job candidates, so should job seekers learn as much as possible about the company and the position before accepting an offer. Here are 6 questions to think about as you determine your next step.
La pandemia del COVID-19 es antes que nada una crisis de salud pública, y la preocupación primordial debe ser la seguridad y el bienestar de la gente.
Sin embargo, así como los estragos del COVID-19 se sienten en la economía americana, un creciente número de trabajadores siente un aprieto financiero y tal parece como si el efecto a largo plazo pudiera convertirse también en una crisis financiera personal. Una cantidad récord de 6.6 millones de americanos ya ha solicitado el beneficio de desempleo. Si usted se encuentra luchando para conseguir dinero para pagar por los gastos cotidianos, puede resultar fácil hacer movidas de dinero que lo ayuden hoy, pero de las que pueda terminar arrepintiéndose más adelante.
Para aquellos de ustedes que se han encontrado en un apuro financiero donde necesitan el dinero CUANTO ANTES, aquí les presentamos algunas opciones disponibles, junto con los pros y contras.
Muchas partes de la nación están bajo las guías de permanecer en la casa. El virus COVID-19 se está propagando a través de todo mundo, y usted acaba de perder su trabajo. Esta experiencia puede ser increíblemente estresante, aun para el individuo más preparado.