Seven weeks into the stay-at-home order, many residents are struggling financially. WalletHub, a personal finance website, has come up with a list of financial tips. Rebecca Havely says the first thing you should do is ask your bank for help…
Many banks and credit unions are willing to help to people who face temporary financial hardship due to the coronavirus. They may allow their customers to skip a payment, temporarily lower interest rates, waive fees, or increase a credit limit. In the meantime, set aside as much money as you can from each paycheck or unemployment check in case coronavirus impacts your ability to work or causes you to have additional medical expenses. Use credit cards, not cash. It’s theoretically possible that virus germs on cash can spread the virus. In addition, credit cards can be used for online purchases, allowing consumers to avoid stores.
