8 Tips for Financial Planning During an Economic Downturn
It’s difficult to create a solid financial plan when the economy is booming. Add an economic downturn and creating a financial plan can seem impossible. Here are eight tips for financial planning during a downturn that can help you stay the course. 1. Be Sure You’re Thinking Clearly It’s easy to give in to panic…
Read MoreHow can I build my skills while I am unemployed?
There are lots of emerging job opportunities that require specific skills. Building those job skills is necessary to fill numerous types of good-paying jobs, especially jobs in the tech industry. But you also need a specific skillset to be an educator, healthcare worker, financial services professional, plumber, or electrician. So, to answer your question, first…
Read MoreHow to Apply for SNAP Benefits
The Supplemental Nutrition Assistance Program (otherwise known as SNAP) is a state-run program. Each state has its own process for applying. You can go to your local SNAP office, or some states even allow you to apply online. If you aren’t sure, you can call the SNAP toll-free information number: 1-800-221-5689. Each state has its…
Read MoreWhat to expect when you apply for unemployment during COVID-19
I’m sorry to hear that you lost your job and now must navigate the challenges of Unemployment Insurance. You may encounter busy phone lines, an inability to speak to a live person, and state unemployment website issues. This will depend on what state you live in and when you filed. Presently over 42 million are…
Read MoreFive Ways to Manage Financial Stress During COVID-19
Even under the best circumstances, most of us deal with financial stress in our daily lives. With the additional stress that has been placed on many individuals and families as a result of COVID-19 from job loss or changes in income, and uncertainty about the future, financial worries are even more common. Dealing with your…
Read MoreIf I receive unemployment insurance, are my benefits taxable?
Unemployment benefits are taxable income. They are subject to federal and state taxes (if your state taxes income). You can choose to withhold 10% in federal taxes from your benefits by completing a W-4V and giving the form to your unemployment office. Some states automatically withhold taxes; some states do not. Go to your state’s…
Read MoreApplying for SNAP Benefits if You’re Newly Unemployed
If you’ve lost work or earnings, you may be curious about programs that you can use during this difficult time. Your first move should be to apply for unemployment insurance. This is likely the most valuable benefit, especially while the additional $600/week is available through late July 2020. Unemployment insurance often replaces only a portion…
Read MoreWho qualifies for unemployment benefits during the COVID-19 pandemic?
Unemployment insurance can provide a temporary but vital replacement of earnings during the COVID-19 crisis. Unemployment insurance (UI) is a joint federal-state program. It’s administered by states and provides cash benefits to eligible unemployed workers. In response to COVID-19, qualifying for unemployment has become more flexible. Even if you didn’t qualify for UI in the…
Read More5 Things To Do With Your COVID-19 Stimulus Check
The COVID-19 stimulus checks are starting to arrive in bank accounts and mailboxes. If you’re getting one, you may be wondering what to do with this money. First, I will say that the government is issuing this money to families to help with basic living essentials. We don’t know how long our nation will be…
Read MoreShould I defer payments on my bills?
The pros and cons of deferring payments during the COVID-19 crisis As you look for help to make ends meet, you may be looking at the increasing amount of creditors offering the ability to delay payments. It’s great companies are taking quick action to help with the financial impact of COVID-19. But proceed with caution…
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