As the Director of Affiliate Relations at HomeFree-USA, I’ve always been fascinated with how people handle their money. Like everyone else, I’ve had my financial ups and downs. In fact, it took me 32 months to pay off $32,000 in credit card bills and build up a six-month emergency fund. While that was a very difficult period, I am grateful – and wiser -- for the experience.
Through my personal experiences and working at HomeFree-USA, I’ve gained a ton of insight that I feel compelled to share. You’ll find those lessons here. Feel free to take the thoughts and ideas that resonate with you most and put aside the rest for later. I look forward to sharing my journey.
Tips to Tackle COVID-19 Money Challenges
COVID-19 has affected millions financially. If your income has been impacted or you think it will be, tap into these resources to help you weather the storm.
If you’re having trouble paying your car note: Some lenders are offering auto loan extensions for those who can’t make their car payments, meaning you may be able to skip a payment or two for now and then make those payments on the back-end of the loan.
If you’re having trouble paying your phone or electric bill: The FCC’s Keep Americans Connected Initiative has signed up more than 550 broadband and telephone service providers who promise they won’t charge late fees or cut off service for the next 60 days due to the crisis. Also, many utility providers have announced that they won’t charge late fees or cut off electricity or water during the COVID-19 outbreak.
If you don’t have money for your credit card bills: The Consumer Financial Protection Bureau (CFPB) and financial regulators have asked financial institutions to work with those who are experiencing hardship due to COVID-19. As a result, some card issuers are letting consumers delay or temporarily suspend payments.
Help is available. Tap into the resources you need.