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The financial implications of the coronavirus global lockdown have rippled across the country, affecting businesses and their employees. About 16.8 million Americans filed for unemployment in the past three weeks as COVID-19 adversely affected every industry nationwide.

Congress approved a significant stimulus package on March 27 to assist Americans struggling with the COVID-19 emergency. Most people will receive an additional $1,200 from this plan. If you have children under the age of 18, you’ll also be provided $500 for each child.

Financial difficulties can be challenging. If you suddenly find yourself in a situation where you have a bevy of bills to pay, a lack of funds, and you aren’t sure how you can pay these monthly bills, then you understand financial hardship. Financial hardships occur when you lack the money to pay for your necessary expenses, and taking on debt or missing payments might seem like your only solution. Many Americans are currently experiencing these types of issues, so know that if you are in this position, you are not alone, and you don’t need to feel embarrassed. Instead, there are some steps you can take to help yourself out with this type of situation.

Getting laid off from your job or having your hours reduced can be stressful. That job was how you were able to provide for yourself and your family. It put a roof over your head and food on the table. When you lose your job, your income grinds to a halt. Unfortunately, the same can not be said about your expenses. There are still bills to pay, even when you aren’t making money. These bills can drain any savings you may have, leaving you in a desperate financial situation.

To prevent further spread of coronavirus, many businesses are asking their employees to work from home. The office can be a breeding ground for bacteria which makes it a perfect environment for the virus to spread.

If you’re like many Americans, you probably know a thing or two about economic uncertainty. A recent study by the First National Bank of Omaha found that nearly half of all Americans expect to be living paycheck to paycheck throughout the coming year. And 53% of those surveyed said that they don’t have a rainy-day fund that would cover three months of their basic living expenses.

Unfortunately, when many of us hear the word “finances,” we immediately feel overwhelmed with stress and worry. While there is no magic trick that can ensure you won’t ever have to worry about your finances, we understand why so many people wish that one such method existed. While there is no cure-all for your funding woes, what will benefit you is knowledge. By becoming more financially savvy, you’ll have an easier time managing your finances. Even if you are already in debt, then knowing more information about things like interest rates and other credit terms can help guide you back on the right track.

As our national workforce trades in their commutes for home offices, the adjustment for many employers, and their employees, has been overwhelming. Companies that once deemed this work environment impossible now have to make it possible.

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Toward the end of 2019, economic experts began noticing a new trend in household debt. That’s because the state of household debt experienced a dramatic upswing in 2019, according to a recent New York Federal Bank Study. The surge of household debt that happened in 2019 is the most significant annual increase we’ve seen since what we saw right before the last economic recession, during 2007. In 2007, we saw household debt increase to over a trillion dollars. Many of the statistics we’ll be using for this article come from the previously mentioned NY Federal Bank Study.