This week, we start with a much needed mental health check in. The COVID-19 outbreak is affecting our work, our money, and relationships and we’re all figuring out what that’s going to look like for us in the coming months. Spoiler alert: IT’S OKAY TO GIVE YOURSELF A BREAK.
On the show today, we talk about the $2 trillion relief package passed by Congress and what it means for you:
- How much my will my stimulus check be?
- When will I get my stimulus check?
- What should I do with my stimulus check?
- I’m a small business owner, what’s in this for me?
And we get some Mali More updates too!
Application for SBA Disaster Relief Loans: https://covid19relief.sba.gov/#/
File for unemployment insurance: https://www.careeronestop.org/
Mortgage relief programs and tips: https://www.lendingtree.com/home/mortgage/pay-mortgage-amid-coronavirus-outbreak/
Guide for small biz owners impacted by Covid-19: https://www.lendingtree.com/business/emergency-business-loan-resources/
As the situation with Covid-19 develops, people are asking LOTS of questions about what this means for their finances. On today’s show we call up one of our besties, CNBC Senior Personal Finance Correspondent Sharon Epperson. Sharon helps us out with some of your questions, including:
- My 401k is down 30%, what should I do with my nest egg right now?
- Do I keep putting money into my retirement or divert it to cash savings?
- If I have emergency savings, is now a good time to put MORE money in the market?
- Should I refinance my student loan debt?
- What do I do if I lose my job?
- What’s going on with these checks the government is supposed to send us?
We also share some VERY necessary tips for self care when it feels like the world is falling apart.
For more help and information check out these resources:
Sharon’s reporting on the financial crisis: https://www.cnbc.com/2020/03/23/coronavirus-fears-your-money-questions-answered.html
Free financial planning: https://www.onefpa.org/Pages/ProBonoPlanning.aspx
Resources for homeowners: https://www.lendingtree.com/home/mortgage/pay-mortgage-amid-coronavirus-outbreak/
Resources for credit card users: https://www.comparecards.com/blog/credit-card-issuers-offer-help-customers-coronavirus/
Resources for small business owners: https://www.lendingtree.com/business/emergency-business-loan-resources/
Resources for student loan borrowers: https://studentloanhero.com/featured/student-loan-coronavirus-information/
Whew. Who else feels like the last week has felt like the longest year ever?
We hope you are all coping well with the Coronavirus situation and taking all necessary precautions for your health, safety and your financial stability. Here’s a link to the CDC website for updates.
On today’s show, we share how we’re coping personally and financially with the economic uncertainty unfolding.
The markets are in turmoil, businesses are shuttering, and the federal government is talking about a bailout for small business and Americans who can’t afford to go without work during this time. Are you being impacted by the Coronavirus situation? We would like to hear from you: email us at firstname.lastname@example.org or hit us up on Instagram at Brownambitionpodcast.
As mentioned on the show, check out Tiffany’s live videos with advice at her Facebook page.
Market turmoil continues in light of the coronavirus outbreak and you guys are asking the same questions as the rest of us — should I start selling or trading investments in my portfolio? Do I need to rush to refinance my mortgage? Will my 401(k) bounce back?
We’ll talk you through our thought process during times of market uncertainty, but remember — it’s always best to consult a financial planner for personalized advice.
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On today’s show:
- We continue to follow the impact of COVID19 on the market
- An exciting Mali More update!
- Mandi breaks down Restricted Stock Units and how best to treat this incentive
- We take your career and finance questions!