Financial Guidance for a New Normal

Navigate Government Relief

Small Business Support

Answer 5-10 questions to find relief programs you may be eligible for under the CARES Act (PPP or EIDL).

Student Loan Pause

All federal student loan payments are currently suspended until Sept. 30, 2020, helping with much-needed cash flow. Additionally, interest is being temporarily set at 0% on certain federal student loans owned by the U.S. Department of Education until Sept. 30, 2020.

Managing Your Finances

  • Unemployment

    When to file
    Unemployed and unsure about when to file for benefits? The sooner you file, the sooner insurance kicks in which can ease immediate financial stress.

    Learn how to get your money situation in order on the Mint blog

    How to file
    Visit the Department of Labor site¹ to understand more about the federal unemployment insurance options available. There are also helpful links to find your state’s instructions.

  • Money Management

    Money management tips from mint
    During uncertain times, it is important to remain calm and centered and make the best decisions with the best information possible. It’s wise to express any emotions you may have with a trusted family member, friend, or licensed therapist and use your network of professionals to help guide you.

    Visit Mint Resource Guide

    Have a plan
    A solid budget and financial plan is helpful to be present and clear with what is happening, especially in times like these. Creating a plan through Mint or with a financial planner, will help you so that you won’t need to react as much to unforeseen circumstances.

    Review your plan
    If you have a financial planner, speak with him/her about a plan. You should review your plan during times like this to ensure you are doing the right things with your money. If you don’t have a financial planner, look for free services available or check out www.cfpboard.net to find a planner who fits your needs.

    Cut expenses
    Review your budget and cut out any unnecessary expenses. The Mint App can help you do a deep dive into all your monthly expenses to see if there is anything that you can cut. Perhaps memberships or subscriptions you no longer use? Any freed up cash can be spent towards essentials or another financial goal.

    Mint for iOS
    Mint for Android

    Refinance
    Consider refinancing debt to get lower interest rates. The Federal Reserve has lowered interest rates and also increased the amount of short-term loans it offers banks to keep cash flowing smoothly. This could affect interest rates on credit cards or other personal debts but make sure to talk to a professional as it does not always make sense to refinance debt nor does this mean that mortgage rates will necessarily go down. Do your research and make sure you understand your options carefully.

    Learn more on the Mint blog

  • Falling Behind on Bills

    Think about the big picture
    First, get a big-picture look at your financial situation. What are your basic living expenses, how much debt do you have, and will you be getting any financial assistance in the form of unemployment or disability checks?

    Then, go through all your expenses and see what you can cut back on or get rid of entirely - starting with memberships or subscriptions that you don’t need.

    Visit the Mint blog to learn more

    Eviction moratoriums
    Check for eviction moratoriums. If there’s one where you live and you’re unable to cover your rent because of the coronavirus, then you could be eligible to stay in your home for a period of time while a moratorium is in place. Moratoriums are being rolled out at the city, county, or state level in some localities. There are different rules and terms depending on where you live, so you’ll have to check.

    Loans
    Reach out to your gas and power companies to see if they’re waiving late fees or being more forgiving before shutting off your utilities. Several utilities around the country are temporarily halting shut-off orders.

    Auto refinancing
    Start by doing your research to determine if refinancing is right for your situation. If interest rates are lower or your credit has improved, it might be worth shopping for a loan with better terms.

    You can easily check rates online with Motorefi¹ without your credit being affected and without needing to provide a social security number. Just remember that if you didn’t get the best rates on your original auto loan, that doesn’t mean you have to stay locked-in. You can typically refinance a car loan at any time during the life of the loan.

    Learn more about auto loan refinancing during COVID-19 on the Mint blog

    Look for relief
    If you’ve lost a job or aren’t able to work due to circumstances prompted by the coronavirus, help is out there. Check the Families First Coronavirus Act (FFCRA) website¹ or disaster unemployment benefits website¹ to understand the relief available for you - whether an hourly worker, small business owner, freelancer, or artist.

  • Business Continuity

    Build your plan
    If your business financials feel volatile, you’re not alone.

    Jot down worst-case scenarios and potential business struggles. Then finalize a plan for dealing with those problems before they arise. This is your guide to moving forward with speed and confidence.

    Visit Small Business Help during COVID-19

    Plan for supply
    Build a supply continuity plan. This plan focuses on getting all the goods and resources you need from alternative sources, should a vendor cease production.

    Set a communications plan
    Your communications strategy should be for employees and customers. Decide what you need to tell investors, employees, and contractors, and create clear points of contact within your organization so messaging goes through proper channels.

    Virtual options
    Explore virtual and e-commerce options. If your business relies on face-to-face contact or in-store purchasing, now’s the time to think outside the box. Consider virtual meeting rooms for consults and services and online retail spaces for goods.

  • Mental Wellness

    Financial stress
    Take a deep dive into your current financial situation, engage a financial professional if you can, see where you stand, and plan accordingly. Often, things aren't as bad as they seem.

    COVID-19 and Finances: Ultimate Money Tip and Resource Guide

    Free resources
    It’s more important than ever to prioritize your mental health. Finding the help you need is critical to preserving your emotional, physical, and financial well being.

    These sites and apps offer some of their services for free:

    Shine site¹: Care topics for Coronavirus anxiety.

    Headspace app¹, Calm app¹: Free guided meditation programs. Also offers in-app purchases.

    Adjusting to working remotely
    Working remotely can leave employees feeling disconnected from teams and co-workers. But teamwork is important for productivity.

    Be transparent with your teammates and practice patience. Remember that you’re all in this together and as you work through your new reality.

    Visit Small Business Help from QuickBooks during COVID-19

  • Student Loan Pause

    All federal student loan payments are currently suspended until Sept. 30, 2020, helpingwith much-needed cash flow. Additionally, interest is being temporarily set at 0% on certain federal student loans owned by the U.S. Department of Education until Sept. 30, 2020.

We’re here to help

Intuit is the proud maker of TurboTax, QuickBooks and Mint. As the COVID-19 pandemic continues around the world, the challenges facing consumers, small businesses, self-employed workers, and other organizations continues to grow. We’re continuing to find meaningful ways to help and are launching new offerings to support our customers.

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