How Race Affects Americans' Finances in the Time of Coronavirus

[Shiloh]

Source: https://www.nasdaq.com/articles/how...inances-in-the-time-of-coronavirus-2020-07-11

How Race Affects Americans' Finances in the Time of Coronavirus
Contributor
Motley Fool Staff The Motley Fool


What you can do


As tough as it is right now, there are steps you can take immediately:

• Familiarize yourself with relief programs to find any that apply to your situation.
• Find out if you qualify for mortgage forbearance.
• Consider a job in high demand during the pandemic.
• Look at side hustles to bring in extra income.
• If you are part of a high-risk population, learn more about services available to you.
• Explore child care options you can afford.
• Reach out to your creditors regarding any bills you have trouble paying.
• Protect your credit score.
• Learn to recognize a coronavirus relief scam.
• Make a plan to build an emergency fund after the immediate crisis has passed.

There is a good chance you will look back on this period of your life with more than a little awe -- after all, none of us have experienced anything quite like it. The most important lesson may be to never give up. As bad as things seem today, they can get better.
These savings accounts are FDIC insured and can earn you 20x your bank


Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts can earn you more than 20x the national average savings account rate. Click here to uncover the best-in-class picks that landed a spot on our shortlist of the best savings accounts for 2020.