Tens of millions of Americans have filed for unemployment benefits since the coronavirus outbreak began. Well over one-in-four people have suffered a moderate or severe financial setback in recent weeks. Consumer confidence is plunging. In this episode we look at the best ways to cope with a sudden drop in income.
Beverly Harzog, the personal finance and credit card expert at US News and World Report, is our guest. She's the author of five bestselling personal finance books.
From keeping your credit score intact to claiming all the benefits you're entitled to; we look at urgent ways to weather the storm at a time of unprecedented economic crisis.
\"The safest thing to do with a stimulus check is to put it in your emergency fund just in case you need it for groceries or monthly essentials,\" says Beverly.
We also discuss debt consolidation, controlling impulse buying, and negotiating with credit card companies.
Recommendation: Jim has been watching the new remote episodes of Saturday Night Live.
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