Covid-19 Stimulus Checks, Unemployment, & Small Business Help – Episode 180

March 27, 2020

Friday episodes are all about the coronavirus and your money. There’s a lot of news and information out there, and our goal is to distill that down to specific takeaways that will allow you to weather this surreal health and financial crisis. In today’s optimistic episode we cover a lot of good news coming down the pike, including the stimulus bill- how it looks like we’re all getting stimulus checks, unemployment benefits are being extended, and small business loans are getting amped up. Listen to learn how this bill will affect you.

Additional resources from this episode:

  • Amazon is offer free kids books via Audible and here’s that Circle Round podcast that Joel had mentioned.
  • We referenced an OLD episode: The Necessity of Community. Don’t judge too harshly as we were just getting our podcast legs under us, but we felt this is particularly relevant during the hard times we’re currently in.
  • Hopefully most of our listeners have an emergency fund saved up and are weathering this storm well. But we know that’s not everyone, and while getting into massive amounts of debt is never ideal, for some folks the last resort might be to look to a 0% credit card to help carry them through this rough patch.
  • And that funny, albeit it sobering, video of the Italian mayors. Let’s make sure we’re all taking the proper precautions.
Hearts of solidarity popping up in communities during the coronavirus quarantine in Atlanta

And as we ramp up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!

Best friends out!

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2 comments on “Covid-19 Stimulus Checks, Unemployment, & Small Business Help – Episode 180

  1. Marie Mar 30, 2020

    Hey Guys,
    I generally enjoy your podcast, and you have some good financial advice. But this episode left me a little disturbed, twice. The first time was one of you mentioned that the stay at home order was tough on your WIFE, because SHE had to take care of the baby and distance learning. Why is it your wife’s job to do this? Why aren’t you being an equal parent?

    The other was when you mentioned that the stimulus package was bigger than a $1000 a month guaranteed income. I thought the stimulus was for $1200, and a one time check. I don’t see how that’s better than the guaranteed income. In comparison to what Canada and the United Kingdom are doing for their citizens, it’s not even close.

    Sorry for being argumentative. It’s generally not my style. It’s tough out there, and I think in this new economy we need to spend more time thinking about how our money can help support each other.

    • Hey Marie,
      Thanks for listening to the show. And happy to answer your questions.

      My day job is an “essential” job. I’m still going in to produce a broadcast that airs live 5 days a week. So, I’m amending my hours as much as possible to be able to help with schooling and other activities, but my wife does bear the brunt of the teaching responsibilities right now. I wish it weren’t the case but it has to be for the time being. And we do have a nursing baby boy who inevitably requires a little more from his mother than from his father.

      I hope we didn’t say that a stimulus check is bigger than a monthly check via something like UBI (monthly guaranteed income). And I’m sorry if we did say that. I think UBI could potentially have a recurring positive impact on the lives of workers in the US. The stimulus checks that are supposed to be sent in the coming weeks are part of a massive attempt to target financial relief towards all Americans in order to stimulate consumer spending. But individuals and small businesses who have been particularly affected qualify for even greater and more specific relief measures like forgivable loans and enhanced unemployment benefits. The CARES Act isn’t perfect, but it is (in my opinion) sending relief in pretty efficient ways right now.