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Hi Taylor
- I'm sheltering in place with my children for the foreseeable future.
My husband is still able to work, which is nice, but I'm trying to
figure out ways to save and stay on top of our finances so we don't
find ourselves in a hole when things go back to normal. Any ideas?
- Marci
Hi Marci - Glad to hear your family is doing well and still bringing
in some income. These are really tough times for the people who suddenly
can't go to work through no fault of their own. You've got the right
idea - look ahead and think of what can be done now in order to keep
yourself afloat when we get to the other side of this. Here are a
few thoughts to help you keep things in order. |
1. Make
some phone calls. A lot is being done to help workers and
keep industries above water, so there could be some kind of relief
available to you that you don't even know about. If you have any
debts or bills that might push you over the edge on a given month,
reach out to your creditors and collectors. I keep getting emails
from different banks outlining the ways they're trying to ease
the financial burden felt by customers, so it's likely you can
get an extension on a balance due if you just make a call.
2. Don't panic. I've been telling people for weeks not to
freak out about what the markets are doing, since volatility during
a crisis is a guarantee. If you and your husband are looking at
your retirement accounts and wondering if you need to sell your
stocks and put it all in CDs, don't! This is a time to be concerned
with covering our basic expenses, but there's no need to sell
the farm.
3. Sign up for our 14-day course. Since so many people are
in your exact situation, the Kovar team is launching a 14-day
COVID Financial Cure course, providing enrollees with a daily
task that will help them get their finances in order. We'll tackle
everything from improving your credit score to making smart investments,
and all the work can be done easily from your own home. My hope
is, in addition to providing useful information, the course will
help steady people's nerves as they worry about covering their
bills in the coming months. Head over to GoFarWithKovar.com/COVIDFinancialCure
for more information!
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There are plenty
of things to do when it comes to managing your wealth. Instead of
worrying about the things you can't do while you're stuck at home,
start thinking about the actions you can take to keep your financial
forecast sunny and join us for the 14-day course!
© Taylor Kovar
April 13, 2020
More "Go Far With Kovar" |
| Legal Disclaimer:
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
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