Coping strategies are important during the pandemic. Today, the stimulus package was signed and taxpayers can expect to receive funds based their 2018 tax income by mid to late April 2020. Individuals that are laid off can also apply for unemployment insurance. These two sources of income can lessen the financial strain. It will require all of us to focus on the bare necessities such as:
At this time, student loans are interest free for approximately 60 days. Contact other creditors as soon as possible to let them know your financial status. This will keep you from defaulting on car loans, mortgages, credit cards etc. Try to create a repayment plan you can live with. If your spouse/partner is working from home without a break income that is a plus.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel United Methodist Church (UMC) in Montross, VA. Rev. Dr. Taylor promotes best practices by teaching financial literacy workshops and currently serves as Finance Chair in the Rappahannock River District for the UMC. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.