Posts Tagged ‘psychology’

Worried About Finances During this Pandemic?

Monday, March 23, 2020 @ 02:03 AM  posted by Dr. Siders

Financial stress is a common contributor to overall stress, depression, and anxiety, and it is something we definitely don’t need during this pandemic. But it’s unavoidable when some of us have been laid off or have lost freelance work. This is far from a comprehensive list, but it should get you started thinking about solutions and focusing on your goals rather than your fear.

Help in California

If you’re in California, it’s good to be aware of the new rules around government assistance during the pandemic.

https://edd.ca.gov/about_edd/coronavirus-2019.htm

I know some of you are thinking you don’t want “handouts.” But keep in mind that your taxes pay for this assistance and some of this assistance is actually structured like insurance… you pay in so that later, if you need it, it will pay you. If you were paying for health insurance and had to go to the hospital, would you decide to not use the insurance you paid for to pay the hospital?  Probably not.  So why deny yourself the unemployment insurance you’ve already paid for?  Decide to use the assistance available to you, and decide early, since applications may take a while to process.

Banding Together

Also, many companies and other groups are banding together to try to help people who are losing work. For example, guilds, charities, and other organizations have been raising money specifically for pandemic assistance, so please check their Web sites and social media for helpful options. We’ve heard of funds for Hollywood assistants, certain stadium workers, Amazon vendors, and so on. Various companies and philanthropists are also donating to community social support. One fund is being set up for daycare assistance for healthcare workers. Some guilds are discussing extending health care benefits for those who may no longer qualify for their guild’s insurance. Check social media (Facebook, Twitter, etc.), organization Web sites, and local Chamber of Commerce and government Web sites to see if any programs apply to you.

What about Freelancers?

There is a collection of resources for freelancers here: https://covid19freelanceartistresource.wordpress.com/.

Additional Work

Now is not the time to be picky about finding jobs. Be safe, but not picky. Check the usual job Web sites for work-from-home and delivery jobs. Not every company is experiencing a downturn. For example, Amazon is advertising that it needs help (and reportedly has some work-from-home jobs).

Negotiate

To help your dollars stretch farther, consider calling and negotiating with the companies you currently purchase from and suspending or cancelling non-essential services, like entertainment or subscriptions. While this may be hard when you are stuck at home with little to do, you can entertain yourself creatively. You may also be able to negotiate lower rates with various companies if you let them know you have been impacted financially. Or just because market rates are lower than what you are currently paying.  A while back, I noticed a lot of companies offering cellular phone service cheaper than mine, so I called my cell phone company to ask about switching to a different company.  To keep me, they cut my plan rate almost in half.

This type of negotiation is not charity.  This is part of doing business.  Many businesses will lose customers during the pandemic due to financial strain.  Some of them would rather work with you than lose you as a customer as well.  Your willingness to negotiate instead of outright cancel will likely help the business rather than hurt it.

So far, we’ve heard (unconfirmed) that Honda has already set up a program to suspend car payments for a few months during the pandemic. Also, many Anthem Blue Cross plans in California seem to be waiving member copays for telehealth services. So contacting these companies is worth a try.

Get creative, be well, try to stay positive, and if you have more resources to share, please post them in the comments below!