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Creditors May Lower Your Credit Limit in Response to COVID-19

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As COVID-19 has continued to take a toll on the American economy, which remains in recession, many people have made changes to their personal finances in an effort to make ends meet. From budgeting, to saving as much as possible, to furiously pursuing unemployment and other benefits, this has looked different for everyone. But despite your best efforts to take control, some financial impacts remain largely outside of your control. As it turns out, one of those impacts may be damage to your credit score. As financial institutions tighten their practices, many are lowering credit limits, which could lead to a drop in credit scores. 


5 Tips for Rebuilding Your Emergency Fund After Tough Times

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It may feel like a downer to drain some of that emergency fund you worked so hard to save up, but that’s exactly why it’s there. Being able to tap into this money when you needed it most shows you’ve been responsible and self-reliant thus far. After all, that cash wasn’t meant to sit there forever. You needed it, and you used it. Now that you’re back on your feet —or getting there— what happens next? Every financial expert talks a big game about the importance of having an emergency fund, but what if you use it up and you’re back to square one? After all, you’re an adult with bills and expenses who can’t just dump your whole paycheck into your savings account.


Watch Out for These Additional Costs During a Virtual Learning School Year

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Many school districts across the country are starting the school year with remote learning (also known as virtual or distance learning). For some, it is the only option, while others are using a hybrid approach combining remote and in-person classes. Parents whose children will be learning from home this semester may encounter increased costs as a result, as families shift routines around to accommodate this new reality. Here are some budget items that could increase for many families this fall.


#Financial Facts Chat with Rod Griffin from Experian

What to Check on Your Credit Report and How to Protect Your Credit Score During the Pandemic

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  • This Simple Calculation Can Help You Improve Your Credit Score Read More...


Around the Country 🗽

IRS to send catch-up payments for missing stimulus checks

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Some Americans who are still waiting for their $1,200 coronavirus stimulus payments may be relieved to know their checks will soon be in the mail. The IRS announced this week that 50,000 people will receive catch-up payments for money that was withheld due to their spouse’s past-due child support. Catch-up payments are set to go to those individuals beginning in early to mid-September, the federal tax agency said. The $1,200 stimulus checks were authorized by Congress with CARES Act in March. The one-time payments called for up to $1,200 for individuals or $2,400 for married couples who file jointly, plus $500 per child under age 17.


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Newsletter - 08/26/2020


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