With the unemployment rate jumping from 3.5% to 4.4 % and multiple non-essential businesses forced to close, the job market is getting unattractive by every measure. Yet, amid this grim situation caused by the coronavirus pandemic, there is still demand for people especially those on the frontlines like online retail, delivery, and health. A number of companies especially the retailers are still hiring despite the prediction that the unemployment rate will still climb higher. Though not all employment opportunities are ideal, they are out there!
The coronavirus pandemic has left quite of wreckage in its wake, some of which is financial uncertainty and unemployment. Despite the government relief granted under the CARES act, a lot of people are frightened by the uncertainty this period poses. The unemployment rate has increased drastically with predictions of further increase and lots of people are behind on their loan repayments. With the insecurity, most people wonder when it is the right time to file for bankruptcy. Bankruptcy shouldn’t be considered a bad thing as it can be the best step to take you out of financial ruin. So, what should you consider when the idea of bankruptcy surfaces?
When the coronavirus was first discovered, no one could have anticipated the economic destruction that came with it. Presumably for most, it was going to be a virus that would blow around for a few weeks, and then everything will get back to normal, but the situation seemed to worsen as time went on. As economic distress was mounting in the country, it became critical for families to sustain themselves but job security was becoming increasingly insecure. Low-income earners are the people who have been hit the most during these times and in this article, we will discuss how it has generally affected them.
Did you know that a $2 trillion economic relief bill (Coronavirus Aid, Relief, and Economic Security Act) was signed into law recently? Yes, it is true. President Trump signed this bill to assist the millions of households in America affected by the global pandemic-coronavirus. Some people have been let go from their jobs, and this stimulus payment is intended to help these people, and others affected. With this relief check, many Americans will receive $1,200 or more to help them pay the bills during this pandemic, depending on their qualifications. So, who is eligible to get this relief check, you might ask? In this article, we will discuss the different qualifications you must meet to be eligible for this check.
Feeling confused about how to get your credit in order? Is your debt making you feel out of control? You may need to seek credit counseling to help you get your affairs in order. You don’t need to be ashamed as a lot of people need help when faced with large amounts of debt. You can get your credit under control if you work with a good credit counseling agency or attorney. Most credit counseling agencies offer services like homeownership counseling, financial advice, student loan counseling, and more. However, there are a number of things you need to understand before you go for credit counseling. In this article, we will explain credit counseling in detail and what you should look out for.
Since the onset of the COVID-19 pandemic, many people have been hit with financial problems. Over 3 million Americans have filed for unemployment with more joining in every day. Even with the stimulus checks given by the government, most people are finding it difficult during this time. Budgeting is a major way to get by and not fall into more debt. Prioritize expenses.
The widespread economic halt arising from the Coronavirus pandemic has had strenuous implications on citizens across the world. There’s no telling how long the virus will last and its resultant effect on Americans. Offsetting student loans has always been a pressing task for most citizens and with the coronavirus eliminating/reducing income, the struggle has increased. The unexpected pandemic has made it even more difficult for the average American to offset their debts – student debts being among the most troublesome. Reports show that, as of March 2019, American’s outstanding student loan debt topped $1.5 trillion. Most people are beginning to wonder how to deal with their mounting debt during this economic crisis.
A lot of scammers are using the coronavirus pandemic as an opportunity to steal the money of unsuspecting victims. Senior citizens are the most vulnerable to financial scams and scams in general. According to reports, Medicare scams have increased as a result of the pandemic. Since most people over 60 years old are not interacting with their service providers, friends, or neighbors, they can be swindled with scams that seem legitimate. For people who are ill, using trusted delivery services for food and supplies is the best way to go because these scammers pose as good Samaritans and they run off with your money. In this article, we will take a look at some of the other scams that have surfaced during this COVID-19 pandemic.
The Covid-19 pandemic has affected almost every aspect of daily life from employment to retirement contributions. Since the pandemic began, over 30 million people have filed for unemployment, which goes to show that the financial strategies that most people had have been affected. Most people have halted contributions to their retirement accounts because of the uncertainty of this pandemic period.
Covid-19 came unexpectedly for most individuals, business owners, and countries worldwide. Since a lot of businesses depend on people to thrive, most of them suffered severely as the pandemic progressed. Those in the airline, restaurant, hospitality, and tourism sectors were hit the most during the period. Although some were able to successfully transition to the new digital way of conducting business, others are still scrambling. In this article, we will be taking a look at the big businesses that have been infected the most by COVID-19.