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Personal Finances in an Uncertain Time

Date: 04/27/2020

Time: 12:00pm
Where: Virtual, ,

Watch Personal Finances in an Uncertain Time
In this workshop, participants joined Joy Liu, Certified Financial Trainer at The Financial Gym for a conversation on managing personal finances in light of the uncertainty caused by Covid-19. Topics covered included: preparing for possible unemployment or a pay cut; debt payments; student loans; retirement; rent freeze; investing and donating. A few key takeaways:
  • Your first priority should be building an Emergency Savings Fund of at least 3-6 months.
  • You should be saving 15-20% of every paycheck; to maximize your savings, you should use a high yield savings account (i.e. Ally, Marcus by Goldman Sachs, Synchrony Bank)
  • If you are unemployed, try to save 10% of your unemployment check rather using it to pay down all debt. Credit cards will lower your spending limit if you do that, and you might need a higher spending limit later
  • Look into transfer balance cards which will have 0% interest for 12-21 months (i.e. Amex EveryDay, Citi Simplicity, Bank Americard)
The Financial Gym is a national personal financial services company that takes a fitness-inspired approach to its clients’ finances. Certified Financial Trainers work one-on-one with clients regularly to teach them how to make smarter, more strategic money decisions by holding them accountable. Over 90% of The Financial Gym’s clients achieve their financial goals creating peace of mind about their financial futures. As with a gym, clients pay a low monthly fee for service. The Financial Gym offers additional support and financial tips through its Martinis & Your Money Podcast and the Train Your Way to Financial Freedom book. More information about The Financial Gym can be found at

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