Financial Health Tips During the COVID-19 Virus

While the COVID-19 virus has impacted the physical health of some, it has also created financial challenges. SECU cares about your financial well-being and wants to assist you during these difficult times. Below are general tips to help you distance yourself from financial stress and protect your economic health:

  • Review and adjust your budget by first prioritizing your expenses. A temporary reduction in household income may be partially offset by a reduction in non-essential expenses, such as money saved on gas, entertainment and travel excursions.
  • Review your unemployment insurance benefit options if you have been laid off from your job or are experiencing fewer work hours due to the COVID-19 virus. You can file a claim with the Division of Employment Security online.
  • Contact your creditors and service providers to let them know about your situation and ask about loan assistance options.
  • Beware of telephone and online scams intended to prey on your fears and concerns.
  • Resist the urge to shop online for non-essentials. Avoid "panic purchases."
  • Create a plan for your Economic Impact Payment funds. Try to maintain some funds in an emergency savings account. Unexpected expenses may still occur during these challenging times.
  • Meet with members of your household to discuss the current situation and any temporary spending and lifestyle adjustments that may be needed.
  • Research and take advantage of local business, civic, faith-based and government assistance.
  • Apply for FEMA’s COVID-19 Funeral Assistance if you’ve lost a loved one due to the pandemic and need assistance paying COVID-19 related funeral expenses incurred after January 20, 2020.
  • Check on family, friends and co-workers. Share any tips you find useful with them. We are all in this together.