Most Americans will be receiving $1200 checks and $500/child in next few weeks. To some families, this will be far from enough to pay the rent or mortgage and buy food. But to many others, the checks will be an unearned bonus. As a retiree who will not be losing any income and who will…
Month: March 2020
So you think you’re going to jump back in the market after it bottoms out
“The problem with “going to cash” in a crash is that you lock in your losses. Maybe your plan is to jump right back in after the market bottoms? Good luck with that. When markets do turn back up, they do so quickly. As financial planner Kristin McKenna explains here, six of the 10 best…
Resources to survive coronavirus from Consumer Financial Protection Bureau
The CFPB is committed to providing you with up-to-date information and resources to protect and manage your finances during this difficult time. We have updated our site with new resources on: Credit reporting – Your credit reports and scores play an important role in your future financial opportunities. Learn how to manage and protect your credit…
Take the Investor Literacy Quiz
Female investors are less likely than their male counterparts to be confident about long-term opportunities in U.S. financial markets, about their own investment knowledge and about making investment decisions. That’s according to “Mind The Gap: Women, Men and Investment Knowledge,” new research conducted by the Financial Industry Regulatory Authority’s Investor Education Foundation and George Washington…
Why do people hoard toilet paper?
Why Do People Hoard Toilet Paper? A Look At Irrational Behaviors In Uncertain Times Dan Ariely, a professor of psychology and behavioral economics, explains how we can focus on making good decisions during the coronavirus crisis and in the future. https://www.wbur.org/hereandnow/2020/03/25/why-do-people-hoard-toilet-paper-a-look-at-irrational-behaviors-in-uncertain-times Source: Financial Planning for Women
Don’t Panic: Make These 3 Money Moves to cope with Coronavirus
The Wirecutter recommends: 1. Get your debt in order If you don’t pay in full each month: Lower interest payments on your credit cards. Call your card companies and negotiate a lower rate.Refinance your mortgageUse federal student loan protection 2. Shore up your cash Save the money you would’ve otherwise spent. You’re not eating out…
How to build an emergency fund in the midst of an emergency
Now is not the time to stick your head in the sand and bemoan your situation! You are not alone.National surveys by the Federal Reserve have found that many households would struggle to handle an unexpected $400 expense. Writing for The New York Times, Ann Carrns provides this helpful advice from finance experts: Even small…
Your Money: A Hub for Help During the Coronavirus Crisis (The New York Times)
“If your income has fallen or been cut off completely, we’re here to help. This guide will connect you to the basic information you’ll need to get through this, including on government benefits, free services and financial strategies.” By Ron Lieber and Tara Siegel Bernard https://www.nytimes.com/article/coronavirus-money-unemployment.html?te=1&nl=your-money&emc=edit_my_20200323&campaign_id=12&instance_id=16999&segment_id=22635&user_id=bde4c6c63beab087f13b761e1ee9fe1e®i_id=8372066420200323 What you need to know: How unemployment insurance works…
You make most of your money in a bear market…
So in March 2020, the Dow and S&P 500 had their worst week since 2008… As famed value investor Shelby Davis observed: “You make most of your money in a bear market; you just don’t realize it at the time.” Advice below is quoted directly from Jason Zweig writing for the WSJ: What Benjamin Graham…
First step in budgets is to take a step back
“New Year, new budget” or “New Year, no budget” Which are you?Yes, it’s well past the new year (Happy Spring Equinox), but with so many people losing jobs, getting work hours cut, or having their financial life in a turmoil, maybe now is the time to revisit the “B” word. Actually, I much prefer the…