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Due to the COVID-19 pandemic, millions of people are still unemployed. But many governors believe that additional unemployment benefits should at least be held accountable.
As of May 26, at least 23 governors have stated that they plan to withdraw early from the $300 weekly federal benefits provided under the “American Rescue Program” scheduled to end on September 6.
If your state is one of the 23 states that ended unemployment early, please do not wait for action. In some states, fringe benefits will end as early as June 12. Before your benefits expire, follow these eight steps.
8 things you should do if your state wants to end unemployment as soon as possible
Even if there is no problem with your interests, make a plan as soon as possible. Other states may follow suit, however, September will appear unknowingly.
1. Make a deficit budget
A kind Barebones budget Include only your basic necessities: housing and utilities, food, healthcare and minimum repayment. Set up a basic budget and start using it immediately, so you can save any additional funds you get now to help pay for your federal benefits after the expiry of your federal benefits.
2. Find a job in a fast-growing industry
If you are still looking for a job, please consider Transition work. Basically, this is not any job that helps you complete your bill, even if it is not your ideal job. Because many companies are currently experiencing difficulties in recruiting employees, you may be able to negotiate better wages in areas that are traditionally underpaid than before the pandemic.
E.g, These 160,000 restaurant jobs Pay more than $10 per hour. Across the country, employers in the food service, retail and hospitality industries are holding job fairs, and many are hiring on the spot. See also The Penny Hoarder’s Work from home job portal, It usually has a remote entry-level list.
3. Put away the sidebar
Your goal here is to find any way to start generating income before your benefits are over.A lot of easy Something on the side You can now bear very little upfront expenses and start earning extra cash. Some ideas include:
- Drive to Uber or Lyft. Ride-sharing companies Uber and Lyft lack drivers, which makes it possible for drivers to make money $25 or more per hour In some markets.
- Do odd jobs on TaskRabbit. Use this app to connect with people near you who need tasks such as furniture installation, cleaning, and painting.
- Delivery of groceries Through apps like Instacart or Shipt.
- Babysitter. Find shows through sites such as Care.com and SitterCity.
- Pets sit and watch the house. As people resume travel, they will need services that they did not need last year, such as pet care and babysitting services.
4. Search for rental assistance
Congress has allocated nearly 47 billion U.S. dollars to help troubled tenants, but getting some of it is extremely complicated.As Vox report, There are currently more than 340 agencies administering the assistance, and each agency has its own set of rules.
A good resource for navigating this process is the 211 Helpline, which is operated by United Way. You only need to dial 211 to connect with people who know the resources of your community. Due to the lengthy process involved, this step must be performed as soon as possible.
5. Get food assistance
The 211 hotline can also connect you to a nearby pantry. If you can get help from the food bank and reduce your grocery bills now, try to use any excess money for emergency savings.
Simultaneous visit Benefits.gov Determine if you are eligible for SNAP benefits. It can take up to 30 days to receive benefits through the regular application process, but you may be eligible for expedited benefits, depending on your state.
6. Contact your unemployment office
You may still be eligible for unemployment benefits in your state, but the rules will vary from state to state. Most states limit how long you can receive the grant. Some states also ended federal programs, which extended benefits to workers who would have exhausted their benefits. Pandemic unemployment assistance For gig workers who were not originally eligible for benefits.
Although it is difficult to deal with the unemployment office in your state, you must contact them immediately to find out if you are eligible for state assistance. In some cases, you may need to submit a new application or apply for an extension.
7. Ask creditors for tolerance
Although the bank did not advertise the tolerance plan as widely as a year ago, please contact your lender to find out if you can choose to skip or defer the payment. The best time is always before you miss the payment.
Be sure to ask them how to report your payment status to the credit bureau.If they report a payment owed to you, your Credit score Will plummet.
If you have a federal student loan, please use Automatic tolerance It will take effect at least before September 30. You can request a refund of all payments made since March 2020.
8. If your health or house is at risk, please do not repay the debt
In a true emergency, you may have to decide which bills to pay. If your unemployment benefit ends early before you find a job, you may encounter this situation.
Try to work with your lender. However, before paying with a credit card or loan, you should focus on paying the rent and utilities, keeping food on the table or getting the medicine you need.
Yes, if you miss a payment without the lender’s permission, it will damage your credit score. But you can recover from bad credit. Although your credit score is important, your health and housing issues are the top priority.
Robin Hartill is a registered financial planner and senior writer for The Penny Hoarder. She wrote the “Dear Bamboo Finance” personal financial advice column.Send your tough money questions to [email protected]
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