My name is Amie and I am the financial coach here at Trim.
I’ve put together a list of advice and resources to help my coaching clients deal with the financial challenges of COVID-19. Seeing how much this has helped my clients, I wanted to make this available for all of Trim’s followers.
This is a tough time for many, and it’s so important to get a handle on your finances to protect yourself against uncertainty.
“In times like this, I’m really grateful for all your flexibility and assistance. You all just helped me a lot with my emergency situation. I can breathe a little bit easier now. You guys are amazing!” – Will R.
Review Your Expenses
I encourage you to take a moment to review your expenses and reduce spending where possible.
- Trim offers Bill Negotiation where you can upload your phone, internet, and cable bills and we can reduce them as much as possible.
- If you have medical bills, we can also negotiate these for you or put you on a 0% interest payment plan.
- Use Trim’s subscription monitoring tool to review your subscriptions and have us cancel any you decide are no longer needed.
Get Relief (Loans, Credit Cards, and Bank Accounts)
Many banks and companies are offering relief programs to help those experiencing a loss of income.
- Schedule a call with our Bank Negotiation experts to get help with your credit cards, checking accounts, and loans. We will negotiate with your banks and loan servicers to lower your APRs, waive fees, and defer payments.
- Call your utility, phone, and internet companies to inquire about relief programs and payment deferrals. Tip: Make sure you say you have been impacted by the ‘coronavirus’ or ‘COVID-19’ to ensure you are eligible for their benefits.
- If you are struggling to pay your rent, Investopedia has compiled this list of options that may help.
- This list helps you find food assistance, help paying bills, and other free or reduced cost programs, including new programs for the COVID-19 pandemic.
Whether you have started to lose income, or foresee the possibility, here are some ways to generate additional income:
- File for unemployment if you are eligible.
- Use Steady, an app where you can set your location to find on-demand jobs around you.
- Rat Race Rebellion offers many listings for work-from-home jobs.
- FlexJobs posts part-time, flexible, work-from-home jobs. They charge a small fee, but these jobs are all vetted as legitimate to be eligible for the platform.
If you are able to set aside savings, I encourage you to build your emergency fund to protect against uncertainty. I can help you determine if savings or paying off debt should be a higher priority right now.
- We offer an FDIC-insured Simple Savings account where you can set up weekly, automated transfers. Keeping your savings separate from the bank you have your checking account with removes the temptation from dipping into your savings.
We hope that you are all staying safe and healthy!