Read these vital tips on how to survive the economic downturn surrounding COVID-19 in Kentucky.
There’s a lot of uncertainty surrounding this current pandemic, and we want you to know that we’re here for you. We know how stressful it is to have your hours cut at work, or even worse, to have no hours at all.
While it’s hard not to panic, we want you to take a deep breath and know that we’re available to answer your questions. In the meantime, we want to offer you practical advice on how to manage your finances and how to not get behind on your bills.
While everyone has a different situation, these tips may help you set a plan in place while your income is temporarily affected.
Before we get started, please make sure to prioritize your (and your family’s) health and safety. Your well-being is our number one concern. Be sure to continue to thoroughly wash your hands, avoid touching your face, and practice social distancing.
Remember that we’re all in this together, and we will get through it!
Here are some practical tips on how to maintain your financial stability during the COVID-19 situation:
Don’t bury your head in the sand. Start preparing for your financial setbacks now.
If you’re renting, contact your landlord to inquire about paying this month’s rent at a later date. If you’re a home owner, contact your mortgage company to inquire about paying your mortgage at a later date. See below for more details.
As of March 19, 2020, Indiana Governor Eric Holcomb is extending the state tax return filing and payment due date (for certain Indiana tax returns) so that it aligns with the IRS extension (July 15, 2020).
Click here to see which type of Indiana tax returns are part of the new July 2020 extension deadline.
Only pay for your necessities. If that means cancelling Netflix, Hulu, Spotify, and the like, do it. You’ll be amazed at how much money you’ll save by cutting out those “small” extras!
I know that this is a stressful time. If you have any additional tips or information that could help, please let us know. Most importantly, please stay safe and be well!
All the best,
Tracy L. Hirsch[Please note that this article is purely for informational purposes, and should not be construed as legal advice. If you have financial questions regarding debt or need legal protection from your creditors, you should meet with a licensed bankruptcy attorney. Please remember that I’m here to help!]