COVID-19: 5 Ways To Stay Financially Afloat During Unemployment

COVID-19: 5 Ways To Stay Financially Afloat During Unemployment

Facing sudden unemployment? Here are five ways to meet your financial needs until you can work again.

The effects of the coronavirus pandemic have sent shockwaves of uncertainty through the country - and the economy. As a result, millions of Americans are finding themselves out of work - at least until the pandemic passes.

But out of work doesn’t mean out of luck. If coronavirus has impacted your ability to work or has caused you to be laid off, there are some things you can do to find financial relief.

  1. Apply for unemployment benefits.

    Lawmakers recently expanded the groups eligible for unemployment benefits. If you’ve been laid off, experienced reduced working hours, are sick/quarantined (and not getting paid), or have had to miss work for childcare, school closures, etc. due to the coronavirus pandemic, you’re eligible to apply for unemployment. Visit your state’s website to check your eligibility. Then, use this checklist to make sure you have everything you need to apply. If you discover you’re not currently eligible for unemployment benefits, don’t give up hope. In this ever-evolving situation, your state’s guidelines could change. Check back regularly.

  2. See if your company offers relief funds. Some businesses like Amazon and Postmates have launched relief funds to help support their employees. Many restaurants and other local businesses are creating GoFundMe pages to do the same. Check with your company to see if they’ve set up a similar fund.

  3. Find food support resources. Local food banks and organizations like Feeding America are launching a major response to those in need of grocery support, and many schools and community groups are providing food to families that normally rely on free and reduced-price meal programs at their children’s schools. Call or text your neighbors or join your local neighborhood Facebook page, email list or NextDoor page to find out where programs like these may be happening in your area.

  4. If you’re a business owner, seek government assistance.

    If you’re a business owner and your business is suffering or you’ve had to close it because of COVID-19, check out this list of government agencies, private companies and nonprofit agencies offering their support.

  5. If you’re an Acceptance Insurance customer, call us.

    Due to the pandemic, we’ve implemented some new policies to give you some breathing room on your payments and deadlines. If you’re experiencing hardship and need assistance regarding your policy or payments, please call your local agent

It’s good to remember that none of us are facing the coronavirus pandemic alone. Companies, institutions and individuals are stepping up all around us to help those in need and support our collective health.

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