When serious crises are happening in our lives, especially this historic coronavirus pandemic, the last thing we want to worry about is money. Unfortunately, financial matters can’t be avoided. Keep your head above water during this COVID-19 pandemic with these tips.
Make arrangements with your creditors.
- Many companies (including some of the insurance companies we represent) are offering help to customers who are struggling to pay their bills. Always call before not paying a bill. The creditor may make a deal that will keep you in good standing.
Look into employee benefits.
- Your employer is facing a great financial crunch as well but wants to keep business rolling, and customers and employees healthy. Work with your company to make arrangements for you to continue working, and getting a paycheck, while meeting current recommendations for safety.
Consider unemployment insurance.
- If your employer simply cannot stay open and you are not receiving a paycheck, check with your unemployment office for relief. Legislation has been passed in Maine that will make this process easier and will benefit workers and employers.
Look for possible federal relief.
- The White House administration is working on an economic stimulus package that may provide quick cash to most Americans, and tax relief in the near future.
Avoid scams
- Sadly, there are people that will try and take advantage of our fears and commit fraud. Emails and phone calls from criminals masking themselves as the CDC, WHO, or other legitimate organizations are coming in fast and furious. NEVER give out your account information or social security number over the phone. Financial institutions, including our agency and companies that we represent, will never call you to ask for this information.
Remember charities.
- There are many non-profit charities that are ready to help people out during this time. Reach out to them. If things are ok for you right now, consider giving to their cause. If not, there will be time to give back in the future.
At F.A. Peabody Insurance, we are still working every day to keep you insured during these unprecedented times. Stay safe and secure! For more personal finance tips, visit our blog.