Dos and Don'ts of Budgeting During a Crisis

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Roger

• April 21, 2020 00:38
• Edited

No one knows how long this pandemic will last, so it is important to plan for the long term with regard to your finances.....all tips & hacks welcome!

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  Jana Jacobs

  • April 21, 2020 03:19

  I heard you can ask your lender for temporary payment relief if you don't have enough cash to pay your bills - anyone has any details on how to exactly do that? Do I just contact each lender individually? Or is there an easier way to do this? 

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  Ravindra Gupta

  • April 21, 2020 04:20

  I have heard that you can request to increase your credit limit for existing cards or apply for an emergency credit card if you need access to more credit. I think we can just call the customer care team to check for that.

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  Nicole Newby

  • April 21, 2020 12:58

  I believe you have to contact each lender directly and explain your situation. If you rent, your landlord may also work with you on a payment relief plan. They may ask for documentation or proof of unemployment before granting an agreement. Here's a list of most lenders with links to their contact information: https://www.creditsesame.com/blog/updates/credit-card-partners-and-banks-offering-temporary-relief/

  Another tip is to cut unnecessary expenses. You may be able to cancel subscriptions like Netflix for now to save a few bucks a month. There are several entertainment free trials you can research in the meantime! 

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