The City of Austin’s RENT Assistance program

Finance
LinkedIn

The program is available for low-income Austin residents who have been financially impacted by COVID-19 and are struggling to pay their rent. 2020 has been challenging for everyone and the City of Austin has expanded its RENT Assistance program making it easier for eligible candidates to apply.

The RENT assistance program will pay up to 12-15 months of rent for eligible Austin renters and may cover the following:

Future rent payments will be provided three months at a time and families will be requalified every three months after that. If the government pays for a portion of your rent, the program can pay the additional portions not covered by the government subsidy.

Residents may be eligible if they earn 80% or less than the average household income. If residents were assisted last year, they are still eligible for this new program and can help cover rents that are still due from April 2020 through December 2021.

For example, a mother with two children who lives in Austin’s Rosewood neighborhood who made $54,500 a year but has lost her job due to the pandemic should apply for RENT assistance. She is currently unable to pay her landlord and may lose her apartment. She can visit http://AustinTexas.gov/RENT and submit her application.

Another example includes a couple living in Austin’s Riverside neighborhood. They made a combined $62,500 and renewed their lease, but due to the pandemic one of them lost their job and they are now struggling to make future rent payments. They will qualify for RENT assistance.

The RENT Assistance Program has established a priority point system to ensure those in greatest need are considered first.

Renters in the first priority group will receive 3 points and will be considered first. That includes Renters need to meet two criteria: the renter must qualify for unemployment for at least 90 consecutive days before application and have zero or extremely low income (at or less than 30% of the area median income).

Renters in the 2nd priority group will receive 2 points and will be considered after the 1st group. This includes renters who qualify for two criteria: renters who qualify for unemployment for at least 90 consecutive days before application, and have low income (between 30% and 50% of the area median income).

Renters in the 3rd group will receive one point and will be considered after the 2nd group. These renters only have to meet one of the following criteria:

  • Renters who qualify for unemployment for at least 90 consecutive days before application
  • Low income renters (at or less than 50% of the area median income)
  • Renters who have experienced homelessness in the last 3 years
  • Renters who applied for the RENT Assistance program between August 2020 – December 2020 and did not receive rent help (this does not include inactive applications and applications that were denied.)

All other applications will be considered after those in the 3rd group.

With an easier application process, candidates do not need to submit documents with their application but will be requested if they are selected. Documents that will be needed include:

  • A Self-Certification form stating residents have been financially impacted by COVID-19. The form will be sent electronically requesting an e-signature.
  • Proof of current monthly income for all household members.
  • Proof that residents are at risk of experiencing homelessness or that housing is unstable, which may include past due rent or eviction notice.
  • Current lease showing address, name of the leaseholder, amount of monthly rent, and when the lease expires. The lease must be signed by both the resident(s) and the landlord.
  • A government-issued photo ID for the head of household. For example, a driver’s license, passport, or other photo ID.

A social security number and legal status are not required for this application. Eligible applicants will be randomly selected, and if the application is selected, the RENT Assistance program will contact the landlord and pay rent directly.

To learn more and apply please visit http://austintexas.gov/RENT. The portal will remain open through September 2021 or until all available funds have been committed.

5 Things To Remember About Being an Effective Leader
CareersFinanceInclusion
LinkedIn
Belva Anakwenze wearing bright orange jacket sitting in large chair smiling

By Belva Anakwenze

Given the current state of life as we know it, finances are top of mind for everyone right now. The accounting industry, known for its quick burnout, is included in that conversation. My career started in corporate America, working long days and nights, to ensure the company’s months would fiscally close on time. In addition to the long hours as month-end neared, I felt like a cog in a wheel and undervalued.

Before I decided to leave the corporate machine, I saw numerous peers promoted into leadership roles for reasons like length of service or technical skill. Obviously, technical skills are necessary in a role of leadership, but just as important is emotional intelligence. Very young in my career, it seemed insulting to report to individuals without the interpersonal soft skills to actually lead, inspire and guide human capital in an organization.

As I began to envision my next chapter beyond the corporate machine, I vowed to honor that I was more than my work product or career choice. I approach everything in my personal and professional life by looking at the whole person. I support small businesses to lend to the growth of local entrepreneurs and communities. When I was looking at schools for my children, I wanted an environment that nurtured them socially and emotionally. I have carried this with me throughout my entrepreneurial career.

My greatest test as a leader came in my years as an income tax franchisee. My partners and I operated five locations and dealt with a myriad of obstacles. Some of our challenges were high employee attrition due to seasonal employment, specialized skill set and more. In addition to the core staff, we also hired an array of positions that all needed to be filled at the same time; store managers, experienced tax preparers, outdoor sign wavers who danced and brought visibility to our stores.

We struggled as business owners and leaders until we began to understand that our staff, regardless of role, were not a monolith. We began to lean into the interpersonal side of our staff members. We got to know our employees as the humans they were outside of work. We took the time to understand the personal needs of our high-performing employees. Taking the time to understand the motivators in our team members’ individual lives allowed us to meet them where they needed us.

One person may have been motivated by money, while another would be looking for professional development, and another would be looking just to be seen as a member of the team. Others may have been looking for simple concessions that allowed them to start their shift 20 minutes later than normal one day a week or a host of small asks that could make the world of difference in their personal lives.

Diversity is diverse in the true essence of the word. There was diversity in life experiences, thoughts, desires and more that all led to each person’s unique lens through which they approached life and their job. The diversity in the needs of staff allowed me to grasp the true diversity of a team. I began leading with care and affection, as a mother would.

As leaders, we have to meet those who we lead where they are. That does not mean inserting our wishes or desired outcomes on them, but truly understanding what our team members want, how they show up as their best selves and more.

Some of the key lessons I learned from my experience as a franchisee that I still use and follow to this day are:

Understand what motivates each staff member and use that as a reward

  • Money
  • Professional Development
  • Work-Life Balance
  • Flexibility

Our team members perform at their best and desire to exceed expectations when they are valued and rewarded in ways that matter to them.

Give team members autonomy to create their own path

Self-efficacy is the best way to have individuals perform up to their potential. When a team member truly believes in their ability and capacity it is easier to reach specific goals.

Work in collaboration

When developing workflow, especially during change and transition, a leader needs buy-in from the team. Give your team space to offer suggestions, feedback and improvements. They will be open about current bottlenecks and improve business efficiency.

Make your team’s job as easy as possible

Invest in technology, training and human capital to help your team. Duplicative work, inefficiencies or stagnation in workflow processes can be extremely frustrating and anxiety-inducing for your team; especially if they want to do well.

Create a company culture where your team can show up authentically

Be kind and nurturing to your team. Remember we all have lives outside of work that are consuming. Have a physiological safe space, so your staff can show up as themselves. The more accepted they are as individuals, the better they will be at work.

A true leader understands the power of undergirding human capital. The most important thing to remember as a leader is that change is inevitable. It is important to handle changes with grace, dignity and humanity.

Money Mistakes Women Should Avoid
Finance
LinkedIn
woman seated at kitchen table reviewing financial documents

Financial or money mistakes are not gender-specific: they can happen to anyone. And if you fail to take it into account, long-term financial troubles can ensue. If you’re an ambitious woman and don’t want to struggle with your finances, here are some money mistakes to avoid.

Not Taking Retirement into Account

If you have a stable job, retirement may seem like something far away, but the sooner you start, the better. Starting early will help you stay on track and secure your financial future. However, the reality is that many women are so busy fulfilling different responsibilities that saving up for retirement is the last thing on their minds.

As a woman, not starting retirement saving or planning early enough is among the biggest financial mistakes you can make. Regardless of whether you have kids or not, setting yourself to be financially independent is critical. You can do so by making a retirement plan to keep things in control and gain financial stability.

If you already have a plan but never follow it, it is high time you start. For a thorough plan, you need to assess when you will retire. This means calculating how many years you will work before taking a permanent break.

Then, add up your current expenses to determine how much money you’ll need to live a comfortable life. Knowing what kind of lifestyle you’ll live once you retire and how much you will need for healthcare is crucial. Of course, if you’re having trouble calculating expenses, opting for third-party assistance is always helpful to maximize savings.

According to a recent report by Morningstar, people who receive expert guidance on managing their finances can enjoy 40 percent more income when they retire.

Waiting Long to Upgrade Your Lifestyle after Separation

If you’ve recently opted for a divorce, you may have to move from a stable dual-income household to a single-income household. Major lifestyle changes can occur as a result. The best way to deal with this scenario is to assess your financial needs when you’re going through a divorce process.

This will help you determine if your income is enough to support your lifestyle. You might find that many of your expenses fall beyond your current needs or budget. It is better to adjust them according to your financial income or needs.

Not Saving on Payday Loan Debt Settlement

Payday loan debt settlement is an option that helps people lower debt via negotiations with their lenders. If you overlook the benefits of this option, it can be a big money mistake that will impact your financial reserves. If you don’t want to negotiate it yourself, consult professionals to discuss it on your behalf. The approach will help you and your lender agree on a payoff amount to consider as full payment.

Debt

An important part of financial stability is to live according to your means. So if you lack the cash to backup spending on a credit card, avoid using it unless you have an emergency. Plus, make sure you don’t have late fees that can lower or reduce your credit card scores. If making payments on time isn’t possible, call your creditors to explain your situation. They might consider waiving your fee and give you a new payment schedule.

Lack of Involvement in Family Finances

If you’re not involved in planning or managing your family’s finances, you’re making a big mistake. You and your partner must make financial decisions together. Not knowing where your family’s money goes and how much goes into savings and retirement funds can prove detrimental to your long-term financial stability.

While many women manage the day-to-day finances of the family, such as paying bills, their role in financial planning doesn’t go any farther than that. They don’t focus on investments and retirement plans, leaving these decisions to their spouse. This is a BIG mistake. Start broadening your financial responsibilities by keeping track of finances and monthly expenses.

Building these habits can give you an outlook into what your financial future can look like.

Summing Up

All in all, women must participate in all investment decisions, as well as retirement plans, to prepare for the future. Women who manage their finances tend to be more independent and confident, both of which are essential for a secure future.

Author Bio:

Catherine Burke is a financial writer for online payday loan consolidation. She provides information on successful cash loans and payday loan consolidation to help people get over a difficult patch. She lives in Kansas and has earned a frame in the matter of payday loans.

Black Wealth Transfer and Confronting the Racial Wealth Gap
Finance
LinkedIn
Businesswoman analyzing finances

The second installment of Bloomberg’s Power of Difference series on Black wealth offered a deep dive into issues that impact intergenerational Black wealth transfer. The three part series, hosted by Bloomberg LP and Bloomberg Philanthropies, seeks to highlight and encourage dialogue about the structures that aid in Black wealth accumulation and extraction.

Speakers discussed why wealth transfer remains pivotal to building wealth in the United States and explained how the historical lack of opportunity for Black families to preserve and pass on wealth has contributed to the prevalence of racial wealth inequality today.

 

Inherited wealth plays a pivotal role in advancing the economic launch point for future generations. Despite the pervasiveness of the American rags to riches story, the wealthiest families have certainly benefited from this capital infusion power–about 30% of the Forbes 400 inherited at least $50 million. Middle and working-class families can use transferred capital and assets to boost emergency savings, make down payments on homes, pay tuition for private schools and higher education, and invest in the financial markets or new entrepreneurship.

Black families, however, are five times less likely than white families to receive a sizable inheritance. When they do, the amount is still typically three times lower on average than what white families receive. This disparity has contributed to Black Americans falling behind in wealth accumulation while white generational peers are empowered to move towards further economic stability and advancement. Black families have certainly been capable of growing assets even in the shadow of Jim Crow and other forms of systemic racism that persist to this day. So why haven’t they been able to hold on to this wealth and pass it to their heirs?

Before the Race Massacre of 1921, the Greenwood district in Tulsa, Oklahoma, was a vibrant, thriving community of Black residents, like many of the “Freedmen’s Towns, and “Freedom Colonies established after the Civil War. Families there owned land, operated businesses, and ran community-sustaining institutions to create property wealth with an estimated value of over $200 million in today’s dollars, earning Greenwood the moniker “Black Wall Street.” When the Greenwood neighborhood was burned to ashes during a violent racial attack, hundreds of residents lost their lives and businesses, thousands of survivors were left homeless and impoverished, and many of them were hunted down, executed, or imprisoned. Laws were passed by the city of Tulsa to impede the rebuilding of Greenwood by survivors and their families. The most disheartening part of Greenwood’s story: this was not an uncommon occurrence.

In Chicago alone, approximately 1,000 Black homes and businesses were burned down during the Red Summer of 1919, a season of racism-fueled on Black communities across the nation. The segregation and violence of Jim Crow, in particular, have been theorized to have had a pervasive impact, stifling Black innovation and entrepreneurship with the threat of violent reprisal for Black wealth building.

In the latest Power of Difference event, speakers discussed how racially driven violence toward Black people like in Tulsa, Chicago, and elsewhere — particularly during the several decades following the abolishment of slavery — was used to rob Black people, destroy their property and intimidate them from building wealth. Government policies, local and federal, often neglected to protect Black communities from this ongoing threat, and instead have codified many racially discriminatory policies such as redlining, government seizures under eminent domain, and disenfranchisement. In turn, such practices have systematically destroyed and eroded the value of Black wealth since the Reconstruction era, with the effects felt to this day.

Pathways to recovery and resilience

Despite economic impediments and discriminatory policies, strategic options and vehicles for securing assets can help more Black families strengthen the economic mobility of future generations. Session speakers painted a detailed picture of how to address these systemic injustices: loopholes in state property inheritance laws can be closed; discriminatory institutional practices and local ordinances, such as those that might assign more value to land according to who owns it, can be revoked; and concentrations of wealth in Black communities, like those created in Greenwood can be systematically encouraged through initiatives that can start at the individual level.

Sean Anderson, a curator from The Museum of Modern Art, discussed the Reconstructions, Architecture, and Blackness in America exhibition he created with scholar and architect Mabel Wilson and 11 Black architects, designers and artists. Supported by Bloomberg Philanthropies, the project aims to encourage reflection on how Black communities strive to build and rebuild in the face of economic and social challenges, and “…how history can be made visible and equity can be built”. The exhibition sparks questions about topics such as “What might our nation look like today if all-Black towns of the past had been allowed to thrive?” and “How might Black community spaces be used to prepare for threats imposed by climate change?”

Reggie Lee, Partner and Chief Transformation Officer at The Carlyle Group described the ten-year journey he took to reclaim the family land that his great grandmother, a formerly enslaved person, had purchased during the Reconstruction era. His story serves as a case study for reclaiming and preserving family-owned assets. For example, to keep the newly reclaimed property intact for future generations, using a trust to ensure legacy building.

The panel Q&A delved into reasons for the continued loss of Black assets and different ways better laws, policies, and individual practices could help reverse this trend. Lack of wills and vehicles like trusts, for example, can make family land and other asset claims vulnerable to loopholes in policies, such as heirs property laws (aka ownership in common) or inheritance taxes. However, it is estimated that 70% of Black Americans do not have a will or estate plan.

Click here to read the full article on Bloomberg.

SkyPoint FCU Closes $7 Million Investment from the U.S. Treasury’s Emergency Capital Investment Program
BusinessFinance
LinkedIn
Businesswoman analyzing finances

SkyPoint Federal Credit Union (SkyPoint), a premier, member-owned financial institution, has recently closed on a $7 million investment as part of the U.S. Treasury’s new Emergency Capital Investment Program (ECIP). This investment increased SkyPoint’s net worth which will allow for growth and expansion of their lending portfolio.

The ECIP initiative is designed to provide access to capital for communities, businesses, and individuals traditionally excluded from the financial system, particularly those that have struggled during the COVID-19 pandemic. SkyPoint will use the funds to provide financial products for small and minority-owned businesses and consumers in low-income and underserved communities. The credit union already has a long history with members in this demographic.

“We’re very proud to be selected for this program that looks to address some of the long-standing inequities in our financial system,” said Jim Norris, CEO of SkyPoint. “SkyPoint has always been focused on helping underserved communities, and this investment will give us a solid foundation to expand our services and help more people.”

SkyPoint is evaluating ways to broaden its portfolio of lending programs to communities most impacted by the COVID pandemic. The credit union is also planning to add business accounts and lending programs this year that will complement its financial service offerings for consumers.

“We know with higher prices for almost everything, families can be worried about making big investments like a car or a home. And entrepreneurs may be nervous about starting or expanding their businesses,” explained Norris. “As part of the ECIP, we’re well-positioned to give families and companies access to the capital they need, especially groups that historically were not able to easily receive funding.”

Over the long term, the funds will also help SkyPoint grow and continue its role of helping foster financial opportunities and inclusion in low-income and traditionally underserved communities.

About SkyPoint Federal Credit Union (SkyPoint)

SkyPoint is one of the premier financial institutions serving Montgomery County, MD; Frederick County, MD; Arlington County, VA; Alexandria and Falls Church, VA; and the District of Columbia. SkyPoint is a Community Development Financial Institution and a designated Juntos Avanzamos credit union. To learn more, visit www.skypointfcu.com

Taking Pride In America’s LGBT Economy
FinanceLGBTQ
LinkedIn

Money talks. And now, more than ever, the private sector is listening to the collective voice of the LGBT community. In many ways, our dollar is as strong as our votes at the ballot box.

We have fought hard to secure our rights in the name of equality, but our true equity and ability to bring about change for our community lies with our economic power.

Our buying power and impact on the nation’s gross domestic product have given us tremendous leverage to advance political advocacy and global human rights. As is true with our social visibility, our economic visibility is essential in building a diverse and inclusive society — and the power of the LGBT dollar is becoming more and more visible every day.

That was the impetus for the formation of the National LGBT Chamber of Commerce nearly 20 years ago. In 2002, we realized no one had truly considered the economic equality of LGBT people or the impact economics could have on the equality movement. With over 1.4 million LGBT business owners (and growing) behind us, we have seen the LGBT community earn its place at the table of economic opportunity. And it’s not just the Fortune 500 who are actively marketing to, partnering with, and procuring from the LGBT business community. Thanks to NGLCC’s public policy leadership, over thirty state, county, and local governments are welcoming our community’s businesses as an essential part of an equitable COVID-19 recovery.

Two decades ago, slapping a rainbow on a liquor bottle for one month of the year was enough for a brand to consider themselves “gay-friendly.” Findings from LGBT economic experts, however, have taught corporations the value of LGBT brand loyalty. More than 75 percent of LGBT adults and their friends, family, and relatives say they would switch to brands that are known to be LGBT friendly. In 2017 alone, the LGBT consumer buying power was over $917 billion. But we are so much more than just consumers.

If the total contributed value of the estimated 1.4 million American LGBT business owners is considered, our input to the economy is over $1.7 trillion. That would make LGBT Americans the 10th largest economy in the world.

Furthermore, our community’s businesses grow larger and last longer than others in the United States. On average, American small businesses fail around the five-year mark, but NGLCC’s certified LGBT-owned business enterprises average over twice that, with at least 12 years in business.

These LGBT-owned businesses are also powerful job creators: 900 LGBT-owned companies we studied created an estimated 33,000 jobs. LGBT entrepreneurs are committed to hiring greater numbers of LGBT employees and ensuring their own supply chains are as diverse as possible. Business leaders in our community continually redefine industries and shatter stereotypes. From technology firms to local restaurants and retail shops, we are proving every day that if you buy it, an LGBT-owned business can supply it.

When you look at a price tag, look for an indication that the company is an LGBT-inclusive corporation or an NGLCC Certified Business Enterprise. It has never been easier to go online or check with your local LGBT chamber of commerce to make sure you support the brands that have our community’s back. If you are an LGBT business owner and not yet certified as one, you’re leaving opportunities on the table to help your business and be counted as part of our LGBT global economy. You could join our ranks as a role model, job creator, and future LGBT business success story.

When it comes to diverse communities — LGBT people, women, people of color, people with disabilities, and more — we must stand in solidarity as a business force. We have never seen greater cooperation and solidarity than we have in recent months. And a great deal of that is due to the recognition that LGBT people are also part of every other community.

Use the LGBT community’s trillion-dollar clout to make a difference. Support your community when you shop, seek out LGBT-owned businesses when you invest and stand by those who stand with us. The LGBT community is an economic force to be reckoned with — and every one of us plays a part in it.

 

Read the report at Nglcc.org/report.

JUSTIN NELSON and CHANCE MITCHELL are cofounders of the National LGBT Chamber of Commerce (NGLCC). NGLCC is the business voice of the LGBT community, the largest global advocacy organization specifically dedicated to expanding economic opportunities and advancements for LGBT people, and the exclusive certifying body for LGBT-owned businesses. www.nglcc.org @nglcc

How to Keep Your Personal Information Secure
Finance
LinkedIn
smartphone shown with key inserted as if unlocking it

Protecting your personal information can help reduce your risk of identity theft.

There are four main ways to do it: Know who you share information with; store and dispose of your personal information securely, especially your Social Security number; ask questions before deciding to share your personal information; and maintain appropriate security on your computers and other electronic devices.

Keeping Your Personal Information Secure Offline

Lock your financial documents and records in a safe place at home, and lock your wallet or purse in a safe place at work. Keep your information secure from roommates or workers who come into your home.

Limit what you carry. When you go out, take only the identification, credit, and debit cards you need. Leave your Social Security card at home. Make a copy of your Medicare card and black out all but the last four digits on the copy. Carry the copy with you—unless you are going to use your card at the doctor’s office.

Before you share information at your workplace, a business, your child’s school, or a doctor’s office, ask why they need it, how they will safeguard it, and the consequences of not sharing.

Shred receipts, credit offers, credit applications, insurance forms, physician statements, checks, bank statements, expired charge cards, and similar documents when you don’t need them any longer.

Destroy the labels on prescription bottles before you throw them out. Don’t share your health plan information with anyone who offers free health services or products.

Take outgoing mail to post office collection boxes or the post office. Promptly remove mail that arrives in your mailbox. If you won’t be home for several days, request a vacation hold on your mail.

When you order new checks, don’t have them mailed to your home, unless you have a secure mailbox with a lock.

Consider opting out of prescreened offers of credit and insurance by mail. You can opt out for 5 years or permanently. To opt out, call 1-888-567-8688 or go to optoutprescreen.com. The 3 nationwide credit reporting companies operate the phone number and website. Prescreened offers can provide many benefits. If you opt out, you may miss out on some offers of credit.

Keeping Your Personal Information Secure Online

Know who you share your information with. Store and dispose of your personal information securely.

Be Alert to Impersonators

Make sure you know who is getting your personal or financial information. Don’t give out personal information on the phone, through the mail or over the Internet unless you’ve initiated the contact or know who you’re dealing with. If a company that claims to have an account with you sends email asking for personal information, don’t click on links in the email. Instead, type the company name into your web browser, go to their site, and contact them through customer service. Or, call the customer service number listed on your account statement. Ask whether the company really sent a request.

Safely Dispose of Personal Information

Before you dispose of a computer, get rid of all the personal information it stores. Use a wipe utility program to overwrite the entire hard drive.

Before you dispose of a mobile device, check your owner’s manual, the service provider’s website, or the device manufacturer’s website for information on how to delete information permanently, and how to save or transfer information to a new device. Remove the memory or subscriber identity module (SIM) card from a mobile device. Remove the phone book, lists of calls made and received, voicemails, messages sent and received, organizer folders, web search history, and photos.

Encrypt Your Data

Keep your browser secure. To guard your online transactions, use encryption software that scrambles information you send over the internet. A “lock” icon on the status bar of your internet browser means your information will be safe when it’s transmitted. Look for the lock before you send personal or financial information online.

Keep Passwords Private

Use strong passwords with your laptop, credit, bank, and other accounts. Be creative: Think of a special phrase and use the first letter of each word as your password. Substitute numbers for some words or letters. For example, “I want to see the Pacific Ocean” could become 1W2CtPo.

Don’t Overshare on Social Networking Sites

If you post too much information about yourself, an identity thief can find information about your life, use it to answer ‘challenge’ questions on your accounts, and get access to your money and personal information. Consider limiting access to your networking page to a small group of people. Never post your full name, Social Security number, address, phone number, or account numbers in publicly accessible sites.

Securing Your Social Security Number

Keep a close hold on your Social Security number and ask questions before deciding to share it. Ask if you can use a different kind of identification. If someone asks you to share your SSN or your child’s, ask:

  • why they need it
  • how it will be used
  • how they will protect it
  • what happens if you don’t share the number

The decision to share is yours. A business may not provide you with a service or benefit if you don’t provide your number. Sometimes you will have to share your number. Your employer and financial institutions need your SSN for wage and tax reporting purposes. A business may ask for your SSN so they can check your credit when you apply for a loan, rent an apartment, or sign up for utility service.

Keeping Your Devices Secure

Use Security Software

Install anti-virus software, anti-spyware software, and a firewall. Set your preference to update these protections often. Protect against intrusions and infections that can compromise your computer files or passwords by installing security patches for your operating system and other software programs.

Avoid Phishing Emails

Don’t open files, click on links, or download programs sent by strangers. Opening a file from someone you don’t know could expose your system to a computer virus or spyware that captures your passwords or other information you type.

Be Wise About Wi-Fi

Before you send personal information over your laptop or smartphone on a public wireless network in a coffee shop, library, airport, hotel, or other public place, see if your information will be protected. If you use an encrypted website, it protects only the information you send to and from that site. If you use a secure wireless network, all the information you send on that network is protected.

Lock Up Your Laptop

Keep financial information on your laptop only when necessary. Don’t use an automatic login feature that saves your user name and password, and always log off when you’re finished. That way, if your laptop is stolen, it will be harder for a thief to get at your personal information.

Read Privacy Policies

Yes, they can be long and complex, but they tell you how the site maintains accuracy, access, security, and control of the personal information it collects; how it uses the information, and whether it provides information to third parties. If you don’t see or understand a site’s privacy policy, consider doing business elsewhere.

Source: consumer.ftc.gov

COVID-19 Economic Benefits how-to Guide
FinanceHealth
LinkedIn
woman sitting at table filling out a medical form

As more Americans with and without disabilities are caught up in the economic consequences of the COVID-19 pandemic, people are wondering where to find answers to life-or-death questions.

What do I do if I’m a person with a disability and lost my job because of COVID-19?

You are not alone. A monthly report published by the University of New Hampshire’s Institute on Disability (UNH-IOD), shows that nearly one million working-age people with disabilities lost their jobs. That represents a 20 percent reduction of the number of workers with disabilities in our nation’s economy. There is a significant question whether those jobs will ever come back.

The U.S. Department of Labor’s (DOL) website has a comprehensive run-down on what you as an individual with or without disabilities needs to know about accessing unemployment benefits if you are an eligible worker.

Unemployment insurance (UI) is a joint state-federal program that specifically helps workers who have lost their jobs. With more than 22 million workers now out of their jobs, UI is more important than ever before.

How do I know if I am eligible?

Each state has its own guideline around who does or does not qualify for unemployment insurance benefits. Generally speaking, if:

  • You lost your job through no fault of your own or you were separated due to a lack of available work.
  • You also meet specific work and wage requirements.

Then you should qualify for unemployment benefits. However, beyond those basic guidelines, each state has different rules in terms of wages earned and time worked. To find out what your state requirements and guidelines are, visit careeronestop.org.

FYI: It generally takes two to three weeks after you file your claim to receive your first benefit check.

What about COVID-19 specific unemployment resources?

In response to the pandemic, DOL issued new guidance to address COVID-19 in the workplace and different scenarios involving workers at risk of losing their jobs because of the virus. You can read that guidance online at dol.gov.

Who can I talk to for more details?

The DOL’s toll-free call center can assist workers and employers with questions about job loss, layoffs, business closures, unemployment benefits and job training: 1-877-US-2JOBS (TTY: 1-877-889-5627).

What other resources does DOL offer?

DOL maintains a dedicated page for job seekers and unemployed workers looking to access the workforce system. That page includes specific information about finding new job training opportunities as well as disability-specific resources.

What if I’m on SSI or SSDI, but I lost my part-time job? Can I claim unemployment?

The answer really depends on whether you are receiving Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) benefits.

For people receiving SSDI, unemployment income is counted as unearned income and DOES NOT count towards the Substantial Gainful Activity (SGA) limit. This means that people who receive SSDI, but had been working part-time, can claim unemployment without worrying about the usual income limit.

SSI is different from SSDI, but unemployment income also counts as unearned income for SSI. However, SSI benefits may be offset by the amount of unemployment received. SSI has a strict $2,000 asset limit. If SSI recipients receive benefits that would push them over the asset limits, they should consider spending those funds right away to purchase needed supplies.

If a person with a disability had been working but lost their job because of COVID-19, they will need to apply for the new Pandemic Unemployment Assistance (PUA) program.

The Arc has a great website with lots of details on navigating unemployment as a person with a disability at thearc.org.

What about accessing food benefits?

The Supplemental Nutrition Assistance Program (SNAP) is the largest federal nutrition assistance program. SNAP provides benefits to eligible low-income individuals and families via an Electronic Benefits Transfer card. This card can be used like a debit card to purchase eligible food in authorized retail food stores.”

The U.S. Department of Agriculture (USDA) runs the SNAP program and maintains a great website about SNAP eligibility at fns.usda.gov.

While SNAP is a federal program, like most benefits, it is run by state agencies. To find out about your home state’s rules on SNAP benefits, visit fns.usda.gov/snap/.

Before the pandemic, 11 million people with disabilities depended on the Supplemental Nutrition Assistance Program’s (SNAP) nutrition benefits to put food on the table. That number has increased significantly as people with and without disabilities have lost their jobs and hungry children have lost food access with school closures. In response, more states are seeking a waiver from the U.S. Department of Agriculture to allow SNAP recipients to use their benefits for online grocery deliveries. Learn more at RespectAbility.org.

What about food benefits for women and children?

The USDA also runs the Special Supplemental Nutrition Program for Women, Infants and Children (WIC) program to help low-income pregnant, breastfeeding and non-breastfeeding postpartum women, and to infants and children up to age five at fns.usda.gov/wic.

Like most benefit programs, WIC has strict eligibility requirements that specifically limit the pool of people who can make use of these resources. To determine your eligibility for WIC, visit: fns.usda.gov/wic/wic-eligibility.

How do I order food online for delivery?

To limit their risk of exposure to the virus, many people with and without disabilities have opted to switch entirely to online grocery deliveries. Unfortunately for many people with disabilities, this is an inaccessible or unavailable option.

Popular options for online grocery deliveries include Instacart, Amazon and Walmart. In 35 states, people with disabilities now can or will soon be able use their SNAP benefits for online grocery deliveries. However, there are still states that have taken no action to help millions of people with disabilities put food on the table. RespectAbility and other disability organizations such as the National Disability Rights Network (NDRN) are actively working to solve this and other critical, COVID related economic challenges.

What about delivery fees?

Unfortunately, even if you are in a state that has joined the SNAP Online Purchasing Pilot, you will need to cover the cost of delivery fees.

What federal agencies or programs are providing information to help people with disabilities during the COVID-19 pandemic?

The Administration for Community Living (ACL) has been leading disability related efforts to respond to COVID-19. They have a great website that has information for aging and disability programs, as well as videos in American Sign Language (ASL) and Spanish language materials.

ACL has distributed information to its grantees in every state about preventing exposure to the virus, tips for dealing with social isolation, technology resources, as well as guidance for programs that are directly helping people with disabilities deal with COVID-19.

Visit their extensive website with resources and information at acl.gov/COVID-19.

What about Veterans with Disabilities?

Like ACL and DOL, the Department of Veterans affairs has created an extensive website to cover VA specific issues in the COVID-19 pandemic. You can use the website to read the latest about COVID-19, make appointments or access other benefits/services: va.gov/coronavirus-veteran-frequently-asked-questions.

If you are not yet connected to a Veterans Service Organization (VSO), why not connect with one now via the internet? For example, you could connect with Paralyzed Veterans of America (PVA) pva.org/find-support, Disabled American Veterans (DAV) dav.org or Iraq and Afghanistan Veterans of America (IAVA) iava.org.

What do I do if I am at-risk of COVID-19 and have roommates or live in a group home and people are not practicing social distancing or taking precautions?

This is a serious matter and your safety needs to come first. Consider preparing a script of what you want to say before saying it. Remember to be respectful of everyone’s emotional needs but firm about your own health and safety.

Have a conversation with your roommate about documenting when and if people are coming. That way you can tell public health authorities if either of you comes down sick.

This great article from TODAY has more ideas on how to handle this delicate issue: https://www.today.com/health/social-distancing-how-talk-those-who-aren-t-doing-it.

For more resources and updates from RespectAbility about the COVID-19 pandemic and its effects on the one-in-five people who live with a disability, please visit: RespectAbility.org/covid-19.

Staying on Top of Your Finances during COVID-19
Finance
LinkedIn
businesswoman-reviewing finances at desk with calculator and wearing a protective mask

A lot of people are dealing with serious financial hardship caused by the COVID-19 pandemic. If you’re worried about your finances but haven’t experienced a loss of income or increased expenses so far, consider the following:

Our fellow federal regulators and their state counterparts are still working every day to keep our financial system safe. Generally, all bank deposits up to $250,000 are insured by the Federal Deposit Insurance Corporation. Deposits at all federal credit unions, and the vast majority of state-chartered credit unions, are also insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). Take care of your finances as usual. If you are in the position to strengthen your financial well-being, read more below about how to take control. You’ll be better prepared for shocks down the road, whether from the pandemic or something else.

Keep Up with Your Bills

There are ways to get help if you are struggling to pay your bills due to the financial impact of COVID-19. But if you can still pay your bills, you will likely be better off staying on track. Keep in mind that if you decide to use a program that lets you pause or reduce payments; you will still owe the money you have not paid once the program ends.

Remember, if you ARE struggling, you have options.

If You Can’t Pay Your Bills
Don’t hesitate to contact your financial lenders and creditors if you can’t keep up because COVID-19 has cost you income. The CFPB and other financial regulators have encouraged lenders to work with their customers during this time.

If You Can’t Make Your Mortgage Payments
The new CARES Act allows homeowners with federally backed loans who are affected by the pandemic to request a forbearance of their mortgage for up to 180 days. The forbearance can be extended for up to an additional 180 days. Private mortgage loans may also offer programs. Learn more here.

If You Can’t Keep Up with Your Student Loans
The CARES Act also automatically suspends payments on federally held student loans through September 30, 2020. For help with a student loan other than a federally held loan, you should contact your servicer to see what options are available to you.

If You’re Already Behind on Your Bills
Check out these tips for dealing with debt – a stressful experience even under normal circumstances.

If You’re a Financial Caregiver
Those who serve as financial caregivers for older adults or people with disabilities may have unique worries and challenges.

Keep Your Money Safe

Whether or not you’ve experienced a financial hit, don’t head for the ATM to withdraw more cash than you usually need. Your money is safe in your bank or credit union account. Unlike money kept at home, you likely have federal protections if money you’ve deposited are taken illegally and in the unlikely event your institution shuts down. You will always be able to get cash when you need it. The professionals restocking cash machines and moving money across the country are on the job and are considered essential service workers.

Take Control of Your Finances

Getting money smart is one of the best ways to be ready for any kind of trouble the future might bring. We also offer a variety of tools including some designed to help you track your spending, build a budget, pay off your debt, or take stock of your overall financial well-being. And always remember to manage and protect your credit.

For more information, please visit: consumerfinance.gov

Reinventing Yourself: Who Will You Be Post COVID-19?
FinanceHealthLifestyle
LinkedIn
A woman holding her baby while working on a laptop

By Kimberlee Davis, host & founder of The Fiscal Feminist

There is no shortage of lessons to be learned from the COVID-19 pandemic. In addition to the economic and health adjustments we are all scrambling to make, a deluge of new challenges that have yet to be considered still looms around the corner.

As we navigate our way through these rough waters of financial hardships, stress and anxiety, let’s make sure to maintain our sense of control and handle the problems that we are empowered to solve. The best way to do this is by re-evaluating our finances, focusing on our long-term goals, and reflecting inward on our own identity.

From a corporate securities lawyer and an investment banker to an entrepreneur and stay-at-home mom, I’ve reinvented myself many times over. Some changes were for the better, others not so much. I’ve found that the key to making solid transitions is to start them in a quiet place like the unique setting of the quarantine.

With mouths to feed, bills to pay and immune systems to protect, taking stock on the bigger picture might seem like a low priority at the moment, but it really shouldn’t be. Ultimately, who we choose to be – either in business, in wealth, in family or just plain spiritually – will determine our paths forward out of this crisis. Amid the chaos and loss of control, our own sense of self is one of the few things we can control. Plus, sheltering in place gives us a unique opportunity to do some personal observation, self-reflection, introspection, and evaluation because we’re not losing time in the dash to in-person meetings and child soccer practices.

The first question that a lot of us get stuck on is: Where do we start? Having gone through several personal and professional re-inventions, myself, I have found great value in beginning with a deep exploration into my hierarchy of values. This consists of the following important questions:

  • What’s important to my emotional development as a person?
  • What’s important to my economic goals?
  • What’s important to my interpersonal relations and social/ethical perspective?

All three are equally important and must be looked at holistically and practically. We can stand back and look at our lives as they were pre-coronavirus, and examine if we were happy and if our finances survived. In our society we seem to be perpetually busy and for many of us, this outbreak has been a hard stop, forcing us to spend time with our loved ones, get comfortable being alone and taking a moment to think about the things that really matter.

Using this time to think about how your financial situation held up, ask yourself what areas can be improved upon. Did you have enough in your savings to cover a couple months of bills if you were to get furloughed from your job? Did you notice how much less money you were spending on frivolous things like your morning coffee? Taking this time to reflect and thoroughly comb through your spending habits and fiscal well-being will help you plan for the future and give you the knowledge and tools you need to make better choices after this is all over.

Having more idle time also allows us to enjoy ordinary activities such as reading, yoga, exercise, painting, listening to music, cooking and reconnecting with our interests. Instead of succumbing to the pressure and uncertainty, embrace the stillness and relearn how to be thoughtful.

Just because the pandemic is tragic – and, of course, it certainly is – does not mean that it is not also a great chance to spend more time together, talk without rushing and determine how we can continue this in a post-coronavirus environment. There may be wonderful recalibrations to consider which never would have been possible during the rat race of the so-called “normal” life we used to know.

We should all examine the strengths of our relationships and family to gauge how we are surviving as a wife, mother, friend and/or businesswoman. In this state of quiet, what do we value and how do we prioritize it among all the other noise?

While contemplating that answer, it is important not to undervalue your career goals. Often, women will assume financial freedom and professional ambition are lower priorities because of societal pressures. However, though we are free to choose other values as higher priorities, that does not mean that we have to.

To adjust your career path, take this opportunity to learn new skills and pursue interests that have been on the back burner. The internet is full of how-to videos and video-networking/coaching platforms that are just a click or swipe away. Use it as a tool for reinvention – not just a vehicle for killing time as we wait for the economy to reopen. Set specific and achievable financial goals taking one step at a time so as not to get overwhelmed and give up on your strategy in frustration.

Personally, I am rethinking my daily schedule from pre-coronavirus times. I have been taking a four- to five-mile walk at least four times a week, and I am committed to continuing that after we resume our new-normal lives. I am going to make exercise a non-negotiable priority. It clears my mind and gives me a positive attitude.

It is so important that you have good nutrition, get regular sleep, have regular physical exercise, have some down time, nurture your spirit and have some fun with the positive people in your life. Intentional self-care will reap many benefits, and it will increase your energy and sharpen your financial focus.

We all should be looking at our lives as a whole and reflecting on what changes we can be making to provide for a better tomorrow. In all our busyness, it’s too easy to lose track of what is really important. The excuse, “I don’t have time,” is no longer an option. For me it’s health, free time to pursue my interests and family. What is important to you?

Kimberlee Davis is the Host of The Fiscal Feminist, a podcast and platform about women and their relationship with money and finances. Her mission is to help all women of all ages and wealth levels embrace their responsibility to themselves to achieve solid financial footing in both calm and turbulent times. Kimberlee Davis has more than 25 years of finance, legal and corporate experience, her career has included being a corporate securities lawyer, investment banker, and Chief Financial Officer. Currently, she is Managing Director and Partner at The Bahnsen Group, a private wealth management firm.

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Robert Half