Millennial Money: How to reshuffled Covid-19 our finances

The U.S. economy stagnated in March 2020 when the country imposed a curfew to reduce the spread of the coronavirus and close its trade. 

A year later, bowling became commonplace, the term “social distancing” is now a vocabulary, elbows have been replaced by elbows, and elbows are still being stopped. 

The COVID-19 epidemic had a big and small impact on our economic life. Major: Many companies remain closed for a while, but many others are not permanently closed or are about to close and millions of people have not yet started work. 

It is irrelevant how the coronavirus affects our physical and philosophical relationships. He learns money, which they can do without it (sometimes hard) and gives money to ask for extra bills without paying. 

There are three main ways to get crown virus infection. 

1. Pay without cash

The cash is grossIt appears to have been covered in viruses, food and waste and was less severe before the outbreak, but now businesses and consumers are trying to reduce their interactions with the virus (i.e., the coronavirus). go digital cards and wallets. Payment services soon followed. Example: Venmo. 

Before the epidemic, Venmo was a theory that was used to distribute light bills and electricity bills to residents during happy hour. You can check it out now. QR code CVS for hand sanitizer payments using Venmo. 

Digital transactions can be simple and clean, but unpaid payment systems typically require a debit or debit card, which 7.1 million Americans cannot easily access. 

As a result, big cities like Philadelphia, San Francisco, and New York, along with other states, need entrepreneurs to take money. And coins remain king until the means become easier. 

2. Don’t be fooled by small purchases

Amazon’s local support malls. This disease also encourages people to do small shopping. The study was conducted by Nerd Wallet in May 2020. According to Harris Paul, 37% of Americans say they have increased their efforts to support domestic businesses as a result of the epidemic. 

Entrepreneurs love to help local businesses overcome their ambition to find the cheapest. In a November 1 poll in Union, 72% of banks and Americans said it was more important to support an SME than to get the best deal, and 43% of them supported an SME or local business. 

He said he was willing to pay an additional $ 20 for the item. In terms of credit, the recovery of the COVID-19 pandemic requires continued collaboration for buyers. 

3. Urgent size

Last year’s personal savings figures reflect this trend. The savings rate in December 2019 was 7.2%, the savings rate in December 2020 was 13.7% and within 12 months the amount of savings increased to 33.7%. COVID-19 effectively reduces the entertainment of your budget by covering travel, music, restaurants and other entertainment that you would normally spend for money. 

Nearly half (48% of Americans, according to a May 2020 poll by Nerd Wallet and The Harris Poll) reported spending less than before the outbreak.Similarly, 38% said they intend to save more with epidemic emergency assistance, but saving during the pandemic is a priority for people with a strong financial base before March 2020. 

This is a free gift. According to the May 2020 NerdWallet survey, 47% reported savings in the pre-COVID-19 outbreak. And many of the people who struggled to stay at sea before the plague were now in dire situations. Resources like 211.org help with bills, housing and other needs. 

They can help people in need. This helps you find food banks in your area. If your unattended income has increased since the outbreak began, consider donating to an organization that will serve those in need. Please.

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