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Short on Money? It’s Time to Take Charge

In COVID-19, Featured, Financial Resources, News by eri

Does COVID-19 have you wondering how to meet your basic needs and still pay your bills? If so, you’re not alone. One-third of adults in Wisconsin said it was difficult to pay for usual household expenses in a recent U.S. Census survey.

The anxiety you may be feeling is normal, especially if your employment or income has been affected by the pandemic. These tips and tools from the CFPB (Consumer Financial Protection Bureau) can help you:

  • Take charge of your circumstances
  • Make good money choices
  • Set a plan for better times

Keep Track of Your Bills

Keeping track of your bills can help you pay your bills on time to avoid late fees. It can also help you change a bill’s due date or set up a reduced payment with a provider.

Track Your Bills with the CFPB Tool

Track Your Spending

Get a clear picture of where your money comes from and where it goes. This will help you make decisions on how and where to spend money.

Track Your Spending with the CFPB Tool

Cut Expenses

Explore ways to cut costs and reduce expenses. This will help you meet your basic daily needs. You may even find ways to save money toward a goal!

Cut Expenses with the CFPB Tool

Prioritize Your Bills

Can’t pay all your bills on time? Prioritize which ones to pay so you can meet your food, housing, utility, and phone needs. This will also help you prepare for and manage any late penalties.

Prioritize Bills with the CFPB Tool

Use Community Resources

Don’t be afraid to reach out for free help in your community! Here are some free or low-cost places to start: