There’s no denying the enormous economic impact the Covid-19 pandemic is having on American households. Keeping up with fixed expenses such as mortgage payments, electric bills, and car payments has become a major stressor for many. For some, companies are willing to extend due dates, lower interest rates, or even discount the amount owed. That being said, what options are there for student loan borrowers to help during this pandemic? Fortunately, there are options whether your loan is Federal, Private, or through your employer.
A lot of business activities halted as a result of the coronavirus pandemic, and millions of people are out of work for the foreseeable future, with the likelihood of more people joining in. Over 33 million new unemployment claims were filed and with the job losses on the high scale, recovery will be very slow irrespective of the federal stimulus. So, how will those that have lost their source of income be able to keep a roof over their heads? Many people will fall behind on their mortgage and rent payments, and this will result in a looming foreclosure predicament. In this article, we will discuss how renters and homeowners can protect themselves and avoid foreclosures during this pandemic.
The coronavirus pandemic has altered the world’s normal and introduced quite a number of uncertainties in its wake. Nobody knows if or when they’re going to get laid off, salaries are being cut, businesses moving slowly, bills piling up, everyone is scrambling to get through each day, which is why the temptation of quick relief in the form of payday loans is stronger now more than ever. But hear me out, DON’T DO IT! And I’ll tell you why.
The global pandemic, Coronavirus, took every country by surprise, however a large number of countries were proactive to cover their citizens during this period of uncertainty, one of which was the United States of America. The American Government enacted the CARES Act which amongst others, provided stimulus payments to its citizens. The Act was a welcomed initiative to alleviate the hardship that the pandemic posed but a major downside was that it was insufficient and restrictive in its application.
In 2019, decluttering was all the rage. Marie Kondo and The Minimalists became household names. However, did you know that decluttering is also an important thing to do with finances? Many people are overwhelmed by their own financial situation because they either do not understand it or it is just…messy. One of the easiest things you can do to help yourself is simplifying your financial life.
It may seem fruitless to teach small children how money works, but that could not be further from the truth. Helping children to understand the value and purpose of money can lead to a lifetime of sound financial decision-making. However, finance can be a bit of a tough sell to a 5-year-old. Keeping it interesting is an essential aspect of teaching kids anything and finance is no different!
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.