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Posted on: May 11, 2020

Financial Tips during COVID-19

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If you are facing financial difficulties due to the Coronavirus pandemic, listed below are a few financial tips to consider for support:

  • United Way of Northwest Florida—If you need food, paying bills, accessing free childcare, or other essential services, please call 211, or visit www.211nwfl.org, to connect with the referral hotline.
  • Find cash for short term solutions—If you have a whole life or universal life insurance policy, it could be used for cash value or borrowing. Call your life insurance representative for more information.
  • Contact your lenders about mortgage, auto loans or credit card companies—If you are not able to pay your bills on time, contacting your lenders can help. If you cannot make a payment now, need more time, or want to discuss payment options, let them know about your situation. Sometimes payments can be deferred for a short period of time even though interest may still accrue.
  • When contacting your lenders, be prepared to explain:
  • Your financial and employment situation
  • How much you can afford to pay
  • When you are likely to be able to restart regular payments
  • Be prepared to discuss your income, expenses, and assets


State and local governments vary in programs and offerings to assist those financially impacted by Coronavirus.

You can look to your state’s unemployment policies to identify current options for benefits at www.floridajobs.org.

 The recently passed CARES Act allows states to extend benefits to self-employed and gig workers , and to provide an extra $600 per week as well as an additional 13 weeks of benefits. Go to hhs.gov/coronavirus for more information.

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