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/