The Coronavirus Can Be Hurting Your Pocket

The coronavirus has affected many different events and businesses across the country, but did you know that it can affect your pocket as well?

According to Wallethub Experts, with the coronavirus forcing people to stay home it's a good idea to save some money because you never know when we will go through a certain situation that will keep you away from work. Jill Gonzalez, WalletHub analyst, said, “It’s always good to have an emergency fund." She also mentioned, "Just remember that it’s only a matter of time until the virus runs its course.” That is true but in the meantime if you have to "self-quarantine" yourself that will keep you away from work and if you cant work from home you lose out on money. This is all tough.

“Many banks and credit unions have stated they are willing to offer assistance to people who face temporary financial hardship due to the coronavirus,” said Gonzalez. That is good to know because if you are away from work the pockets get a little tighter. It was also mentioned, "If you find yourself struggling financially, call customer service to make your case. Make sure to clearly and politely articulate the reasons for your hardship.”

One other thing that is highly recommended at the moment is to stay away from the use of CASH. Usually, cash is always better than credit cards but not while we are trying to keep away from any bacterias or viruses. WalletHub stated, “Using a credit card’s contactless capability may help give consumers more peace of mind. Plus, credit cards can be used for online purchases, allowing consumers to avoid shopping at crowded stores."

Now let's make sure we all stay safe and healthy.