The coronavirus pandemic has caused financial hardship for millions of Americans, leading many to seek alternative forms of income. In fact, roughly a quarter of Americans have either lost their job or had a pay cut resulting from the coronavirus shutdowns, according to CNBC’s All-America Economic Survey.
If you’re tight for cash due to COVID-19, Jared Friedman, a certified financial planner at Redwood Financial Planning, says it’s critical to take an inventory of your assets and liabilities, incomes and expenses to better understand your current financial situation.
“You need to be honest with yourself to see where you stand,” Friedman says. “Start changing behaviors now, so you are heading in the right direction when things get back to ‘normal.’”
Take advantage of government relief
The Senate recently passed a $2 trillion coronavirus stimulus package, in an attempt to minimize the economic impact of the pandemic. With the new relief bill … Read More