The depth and breadth of the COVID-19 (coronavirus) pandemic and its impacts are largely unknown. And while the number one priority is keeping our families and ourselves safe and healthy, the next topic on most people’s worry list is the financial impact, especially if the situation doesn’t improve quickly.
Financial concerns range from “Is this the beginning of a global depression?” to “How am I going to make ends meet?” to “What about my stocks?” to “Why do I need to pay for daycare if it’s closed?”
So how can you prepare yourself financially and calm your money worries while getting through this crisis?
I recently chatted with HerMoney.com founder and Know Your Value personal finance contributor Jean Chatzky, who walked me through seven common financial scenarios you might be facing, and how to act now so you aren’t in the red later.