Jon Paradise VP of PR and Communications with Town & Country FCU about Coping with Financial Stress from Coronavirus

Figure out what financial assistance you may be eligible for – Do you have Paid Time Off or other benefits available from your employer you can use now? Are you eligible for unemployment insurance or even a Small Business Administration loan to help get your by for a while? Visit www.maine.gov to learn more.

• Know where you stand financially– figure out what you owe, and prioritize your bills. Take care of basic needs first (housing, food, utilities, transportation).
• Look for alternative income – it is hard to know how long the disruption to the economy will last. You may want to pick up another job. Many companies like grocery stores, delivery companies and call centers are hiring. You can also consider selling things you no longer need or use.
• Determine your worst-case financial scenario – think about what would be the worst thing that could happen and have a backup plan. Moving back in with your parents? Getting a roommate? Trading in your car for a more affordable model or getting rid of a vehicle all together. Shows you have options you can control. 
• Create a regular schedule – building structure into your day will help find time to do the things you need to do—like make phone calls, update your resume, apply for benefits, manage your budget, and take care of yourself.