Managing Your Money in Uncertain Times

The COVID-19 pandemic, as well as the various challenges it has caused for many consumers, has thrown curveball after economic curveball throughout the year. These uncertain times have left many working Americans with a host of financial insecurities.

It’s also been difficult to keep up with the shifting legislative terrain of U.S. government relief. As of July 31, Congress put a stop to the $600 unemployment benefits aid that was initially signed as part of the CARES Act. And throughout the month of August, it’s been yet undetermined as to how much unemployment aid will continue to be offered to U.S. citizens. Whether a second stimulus package is in the cards is also something that remains to be seen.

As a replacement measure, Congress suggested the $1 trillion HEALS Act on July 27. It would extend some lost benefits for Americans as well as continued financial relief — among other incentives that include allotments for education and tax relief. It would also potentially include a “return-to-work” bonus of up to $450.

As of the morning of Monday, Aug. 17, pending stimulus relief measures remain up in the air. Uncertainty has been a common theme for 2020. Continued financial stress is definitely no exception to this trend.

Here are some simple tips that you can use to keep up with your finances at any time, but especially during the coronavirus pandemic or other trying times:

Keep an Eye on Your Funds

• Use Digital Banking and account alerts with push notification, as well as email, or text alerts* to monitor your account balances and account activity.
• If you have made any recent deposits, please keep in mind that deposits are subject to verification and may be unavailable for immediate withdrawal.
• Don’t forget to consider any pending items such as checks you've written that have not reached the bank or pre-authorized ACH debits that have not yet posted to your account.