{"data":{},"content":[{"data":{},"content":[{"data":{},"marks":[],"value":"A LOT has changed in the last four-plus months...from what we know about COVID-19 to its effects on jobs, the economy, and stocks. And how the gov is responding to all of it. Here’s the latest on how the coronavirus may be affecting your wallet.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"You may be getting (another) check from the gov. ","nodeType":"text"},{"data":{},"marks":[],"value":"In March, President Trump signed a $2 trillion relief bill into law. It included things like ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/covid-19/coronavirus-stimulus-bill"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"$1,200 checks","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":", an extra $600 per week in ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/news-to-wallet/what-high-unemployment-can-mean-for-your-wallet"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"unemployment","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" benefits, and help for small businesses. But Americans said ‘gimme, gimme more.’ So House Dems revealed a plan in May. Then Senate Republicans said ‘how about this instead?’ and unveiled their own proposal in late July. Both include another round of $1,200 checks for individuals. TBD on the final details of a package that passes both houses.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"It could cost less to take on new debt. ","nodeType":"text"},{"data":{},"marks":[],"value":"In rough economic times (and yes, we’re officially in a ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/how-a-recession-affects-you-6wVTRFgc7xweWhq0KYnIVi-post"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"recession","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":"), the ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/learn-the-language-econ"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"Federal Reserve","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" can ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/news-to-wallet/federal-funds-rate-your-wallet"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"lower interest rates","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" to encourage people to spend, invest, and borrow money – and boost the economy. In March, the Fed cut rates to almost zero. And has since said they’ll probably stay there for a while. That could help you get better borrowing terms when you ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/covid-19/-refinancing-or-buying-a-home-coronavirus"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"buy or refinance a home","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":". And maybe a slight discount if you carry a balance on your credit card or other variable-rate debt.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[],"value":"Oh, and if you’re planning to take out new student loans (","nodeType":"text"},{"data":{"uri":"https://skimmth.is/3fXi1KQ"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"grad school","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":", anyone?)...federal rates for the 2020-21 school year are at ","nodeType":"text"},{"data":{"uri":"https://skimmth.is/2ztMq3o"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"record lows","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":".","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"You might get a break on your current debt. ","nodeType":"text"},{"data":{},"marks":[],"value":"Lenders have gotten more flexible to help take some financial pressure off people who are struggling. If you already owe Uncle Sam back for college, you ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/covid-19/federal-student-loans-coronavirus"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"probably don’t need to make payments","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" (including interest) until October. If you’re struggling with credit card, personal loan or mortgage payments, call your creditor. They might be willing to waive fees or defer payments.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"},{"type":"italic"}],"value":"Related: ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/how-to-pay-off-credit-card-debt"},"content":[{"data":{},"marks":[{"type":"italic"},{"type":"underline"}],"value":"How to Pay Off Credit Card Debt","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":"","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"Your utility bills might be higher. ","nodeType":"text"},{"data":{},"marks":[],"value":"More time at home probably means spending more on electricity and AC. ","nodeType":"text"},{"data":{"uri":"https://skimmth.is/30QXPV4"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"One study found","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" people who ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/live-smarter/career/tips-for-working-from-home-effectively"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"WFH","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" are paying $121 more for utilities than usual. Pro tip: set your ceiling fan to spin counterclockwise in the summer to push cool air down and give your AC a break. Air-drying your laundry, running the dishwasher at night (during off-peak hours), and plugging your electronics into advanced power strips can also help to lower your bills.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"It might be harder to get a new job or raise. ","nodeType":"text"},{"data":{},"marks":[],"value":"After hanging around 3.5% (a 50-year low) at the end of 2019 and beginning of 2020, the ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/unemployment"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"unemployment","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" rate has been spiking. As of last month, we’re at about 11%. Meaning there’s a lot of competition for jobs that ","nodeType":"text"},{"data":{},"marks":[{"type":"italic"}],"value":"are","nodeType":"text"},{"data":{},"marks":[],"value":" available. Even if you’re happy where you are, you may be stuck with the same paycheck for a while. During recessions, companies may be more likely to protect their bottom lines by freezing raises and bonuses.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[{"type":"bold"}],"value":"theSkimm: ","nodeType":"text"},{"data":{},"marks":[],"value":"COVID-19 continues to impact, well, everything. Including the economy. While lawmakers decide the gov’s next steps, focus on what ","nodeType":"text"},{"data":{},"marks":[{"type":"italic"}],"value":"you","nodeType":"text"},{"data":{},"marks":[],"value":" can do. Like asking your lenders for help if you need it and finding ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/coronavirus-budget-save-1mqZ3pYQDCOnb9zkDaSdVx"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"easy ways to trim your budget","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":". If you can afford to give ","nodeType":"text"},{"data":{"uri":"https://www.theskimm.com/money/what-is-an-emergency-fund-734atRi7fCDQeTSIPNyhZX-post"},"content":[{"data":{},"marks":[{"type":"underline"}],"value":"your emergency fund","nodeType":"text"}],"nodeType":"hyperlink"},{"data":{},"marks":[],"value":" some love, do it. So you’ll be prepared no matter what happens next.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{"target":{"sys":{"id":"3QIYPfXyh6uZJHfYTk6aFk","type":"Link","linkType":"Entry"}}},"content":[],"nodeType":"embedded-entry-block"},{"data":{},"content":[{"data":{},"marks":[],"value":"","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[],"value":"","nodeType":"text"}],"nodeType":"paragraph"}],"nodeType":"document"}