If you’re one of the millions of Americans making less or receiving unemployment benefits because of the coronavirus pandemic, you’re probably working to recalibrate your finances.
If you don’t have any savings, it’s smart to minimize debt payments for a month or two so you can gather cash to have on hand.
A savings cushion will give you greater ability to handle the next emergency.
Hunt down items to cull from your budget and pay minimums instead of full balances.
If necessary, consider using hardship or forbearance programs being offered by creditors.
Your emergency fund doesn’t have to be large to be effective, but do reserve it for emergencies.