In this episode of Real Stories of Financial Wellness, we want to address people’s concerns about their finances and how to best manage them during the coronavirus (COVID-19) pandemic. There is a lot of information floating around about what people should do if they experience a financial setback due. We want to clear the air and provide some real advice from Kristen Holt, President and CEO of GreenPath Financial Wellness.
0:42 What can people do if facing an income loss?
1:34 Possibly save money with lower interest rates
1:54 Draw on assets with a plan
2:14 Look to liquid assets first
2:29 Make a plan to pay back savings
3:08 What about retirement savings?
4:05 Write a repayment plan into your budget
4:52 Are there any utility programs in place to help assist people at this time?
6:30 What about student loans?
7:01 Anything else people should be aware of?
Music by Hir-O