“What should I do now?” This may be something you are asking yourself if your income has been cut recently. The COVID-19 pandemic has caused many people to lose income because of pay cuts, lay-offs, or furloughs. This loss of income can be very scary and may be the first time you’ve been on your own and out of work. It can be overwhelming to figure out how to pay your different bills (e.g., school loans, credit cards, rent, food, etc.). In order to make ends meet, you may need to use any emergency savings you’ve built, apply for unemployment benefits, or use your stimulus payment. This tip sheet provides some ideas and resources on how to manage if you’ve lost your job or are getting less pay due to the current health crisis.
How Young Adults Can Manage Loss of Income During the COVID-19 Pandemic