As the COVID-19 pandemic rolled on, questions about job security and financial stability arose due to the nature of the virus. Unexpected unemployment and salary cuts could be causing individuals to feel anxious about their financial standing. Here are a few things to remember to manage your credit well. Steve Sorensen Embezzlement.
In a crisis as unpredictable as COVID-19, it would be helpful to review one’s current financial state. Monitor finances by going through all bank accounts, savings, payroll, and even investments. Estimate how far savings and emergency funds can go in the event of unemployment. The key to rising from financial anxiety is facing the truth about your wealth. Determine which parts of the usual expenditures should be cut. Steve Sorensen Embezzlement.
Take the reins by being proactive and planning. Global crises give rise to scams and identity theft. Make it a point to protect your identity by looking through your credit report. This would allow you to place a credit alert on your accounts to prevent fraudulent activities. Steve Sorensen Embezzlement.
Revisit the idea of withdrawing too much cash during a global crisis. When a large amount of cash sits at home, it is not ensured by the federal government. Also, the money withdrawn from bank accounts will not yield any interest and would only be in danger of being spent. The risk of being stolen at home exists as well. Only have access to enough cash. For all other expenses such as utility bills, food and groceries, and auto loans, and more, opt for cashless transactions. Steve Sorensen Embezzlement.
Steve Sorensen Embezzlement 