Financial Health Tips During the COVID-19

While the Novel Corona Virus (COVID-19) has impacted the physical health of some, it has also created financial challenges for many. Below are general tips to help with the financial stress that COVID-19 has brought upon many:

• Review and adjust your budget by prioritizing your expenses. Some of us maybe experiencing a temporary reduction in household income which is affecting our daily lives. By adjusting your budget to prioritize expenses you will be able to manage your change in income.

• If you have been laid off from your job or are experiencing fewer work hours due to COVID-19, visit Belize’s Social Security Board COVID-19 website to apply for the COVID-19 Relief fund. https://www.covid19.bz/

• If you are unable to meet your monthly loan payments due to employment challenges due to the virus, contact your nearest SJCU branch or any creditor immediately and asked about COVID-19 relief plan.

• Resist the urge to shop online for non-essentials. Avoid “panic purchases.”

• Try your best to maintain some funds in an emergency savings account. Unexpected expenses may still occur during these challenging times. We are also approaching the Hurricane season which will start on June 1st to November 30th. Start preparing a plan NOW.

• Meet with members of your household to discuss the current situation and any temporary spending and lifestyle adjustments that may be needed.

• Take advantage of government assistance if needed.

• Check on family, friends and co-workers. Share any tips you find useful with them. We are all in this together.