In just a short time, coronavirus (COVID-19) has had a major impact on the world. Many of us are feeling stress, including anxiety related to money. With so many things out of our control, it is natural to desire some order. We’ve created a guide for navigating uncertainty. The guide has a number of activities that provide an opportunity to connect to ourselves and each other, while still maintaining social distancing.
Consider finding a partner or two (virtually) and going through our interactive activities in the guide. Or if you prefer, you may try these on your own as a journaling exercise! Here’s what you can expect:
- Approachable questions to discuss your current mindset around money and living in this time of uncertainty.
- A story of someone with concerns over the future of their income and how they are taking it one day at a time.
- Potential ideas to reduce money-related anxiety and improve your overall well-being during this time.
- A worksheet to reflect on the prior activities and write down what you want for yourself going forward.
Get Started With The Activities Guide
Free activity pdf from our partners at Greenpath
Coronavirus Resource References
Compiled by our partners at Greenpath on March 20th, 2020.
CFPB Consumer Tips
This link contains a multitude of great information and links to resources, including:
- Advice on contacting creditors/servicers
- Advice on loss of income and links to unemployment resources
- Advice on avoiding scams
- State-by-State Department of Labor Programs and Services - State and local
governments vary in the programs and offerings to help those financially
impacted by the coronavirus.
- Older adults may be impacted by the coronavirus and quarantine procedures in
different ways than the general public. There may be government benefits
available to older adults who need financial help. Visit benefitscheckup.org for
more information and to see if they qualify for any state or local assistance.
- The President announced interest waived on all federal student loans held by
government agencies. This excludes private student loans.
- It is still unclear how student loan servicers will enact this, but it is expected to be
automatically applied to existing loans, with no action by the consumer needed.
- It is very unlikely that this will reduce monthly student loan payments in any way,
and clients looking for payment reductions should still pursue this with their
Avoiding Pandemic Scams
- Scammers are actively out trying to prey upon consumers and spread
misinformation - don’t click on mysterious links.
- Rely on info from the CDC and WHO for accurate info.
- Be alert to “investment opportunity” scams.
Small Business Assistance
- Low interest federal disaster loans are available in some areas. They are geared
toward working capital to help stay in business.
- Call 1-800-659-2955 for more info.
Financial Counselors Who Care
LA Financial's partners at GreenPath offer free financial counseling and education to support people in meeting their financial goals. Our professional, caring financial coaches will work with you to assess your situation, explain the options or solutions available, and help you create a spending plan to meet your goals.
If you have been financially affected by COVID-19, or for any reason, let’s talk. We will work with you to identify resources and help you create a plan to get through this difficult time.
Request a Call With a Financial Expert
While we hope you find this content useful, it is only intended to serve as a starting point. Your next step is to speak with a qualified, licensed professional who can provide advice tailored to your individual circumstances. Nothing in this article, nor in any associated resources, should be construed as financial or legal advice. Furthermore, while we have made good faith efforts to ensure that the information presented was correct as of the date the content was prepared, we are unable to guarantee that it remains accurate today.
Neither Banzai nor its sponsoring partners make any warranties or representations as to the accuracy, applicability, completeness, or suitability for any particular purpose of the information contained herein. Banzai and its sponsoring partners expressly disclaim any liability arising from the use or misuse of these materials and, by visiting this site, you agree to release Banzai and its sponsoring partners from any such liability. Do not rely upon the information provided in this content when making decisions regarding financial or legal matters without first consulting with a qualified, licensed professional.