Experts share coronavirus money tips: Savings, taxes and more

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The sudden economic slowdown caused by the coronavirus pandemic has many Americans thinking about their daily finances.

Money experts Andrea Woroch and Allison Kade shared their tips for making the most of your budget.

CORONAVIRUS LAYOFFS SURGE IN U.S., WITH 1 IN 5 HOUSEHOLDS REPORTING LOST WORK

“There is a lot of panic happening right now — from food shortages at grocery stores to health concerns to income and financial worries,” Woroch told FOX Business. “The best thing you can do for yourself right now is to make a financial plan to help you get through these tough times.”

1. Get your tax refund.

Tax season looks a little bit different this year because of the virus. The Trump administration authorized the deferral of $300 billion in IRS payments, although Americans

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American teachers are facing ‘a perfect storm’ of crises amid the coronavirus pandemic

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The compounding stresses of the coronavirus pandemic, the sudden transition to remote learning, and the politicization of schools reopening are burning out teachers.

“I was on the verge of leaving,” an art teacher from Connecticut, who teaches kindergarten through fifth grade but did not want to be identified out of fear of professional retaliation, told Yahoo Finance. “The reason why I stayed truthfully was because of my loan payments.”

According to a survey by Horace Mann of 2,490 educators in the U.S. in June, 34% of them are considering leaving the profession due to the financial stress they’re feeling. 

“It’s like a perfect storm happening right now because the federal government hasn’t passed any legislation to give states any money,” Tish Jennings, an associate professor at the University of Virginia who studies how stress affects teachers, told Yahoo Finance. “ And so when they don’t have enough money in the

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25 Common Activities, Ranked by Coronavirus Risk

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States are reopening in the face of COVID-19 and school planning has begun, but that doesn’t mean it’s safe to go out or to attend. So you’re staying home in quarantine as much as possible. Yet the pandemic isn’t going to end anytime soon. At some point, you’re going to need to take some risks. Which are the safest?

Your personal risk of catching the coronavirus depends first and foremost on community transmission rates. If you live in Florida, your risk of picking up COVID-19 is much higher than if you live in Wyoming. However, you can’t only consider your family’s risk of catching the virus, but also how sick they’ll become if they do. Older people, particularly those over 65, and anyone with underlying conditions is at particularly high risk. And if you work in a job with potential exposure, going out means you could spread the virus around

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Looking for a Personalized Shopping Experience in Coronavirus Times? 5 Online Retailers You Need to Know Now

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Click here to read the full article.

Everyone’s doing it — shopping online. As the pandemic continues to escalate, e-tailers will have access to more consumer dollars than ever before. However, brands and retailers that offer enhanced shopping experiences with free services such as personal stylists to fit specialists are likely to grab a bigger share of this burgeoning market.

While most sites attempt to make the buying process as seamless as possible by posting lengthy lists of frequently asked questions (FQA) and answers, others take shopping to the next level with live chats by online or by phone, with knowledgable customer service representatives.

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Meanwhile, some continue to lure shoppers with free shipping offers and liberal return policies. In one go-the-extra-mile example, Lands’ End noted a customer recently discovered an item purchased in 2000 that was misplaced during a move. The company took it back and

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The bright spot in Trump’s coronavirus response

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Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here.

QUOTE OF THE DAY

“Person, woman, man, camera, TV … if you get it in order you get extra points.” — President Donald Trump bragging about his performance on a test given to screen people for dementia.

WHAT’S HAPPENING

Portland Mayor Ted Wheeler is tear gassed while visiting protesters demonstrating against the presence of federal agents on July 22, 2020.
Portland Mayor Ted Wheeler is tear gassed while visiting protesters demonstrating against the presence of federal agents on July 22, 2020.

Twitter @ByMikeBaker

US weekly jobless claims rose to 1.4 million last week, more than economists expected and the first increase in months. It signals that the recovery has stalled as the virus surges in the South, West, and Midwest. More than 50 million Americans have filed for unemployment during the pandemic.  

Senate Republicans have ditched the payroll tax cut from their proposed relief bill. They’re proposing another round of stimulus checks instead. President Trump seems

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Republicans Struggling To Finalize Their Next Coronavirus Relief Package

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After days of intra-party squabbles and months of delays, Republicans on Thursday struggled to unify around another economic stimulus package that would help Americans reeling from the resurgent coronavirus pandemic.

The proposal, which was initially expected to be made public on Thursday, now won’t be released until next week due to disagreements among Senate Republicans and the White House. And that’s even before negotiations with the Democrats, whose support will be necessary to send the legislation to the president’s desk.

“We’re still developing the bill. It’s not going to come out till Monday,” Senate Finance Committee Chairman Chuck Grassley (R-Iowa) said.

The last-minute hangup on a proposal that almost certainly won’t become law in its current form follows months of delays by Republicans, who argued that Congress should pump the brakes and evaluate its earlier stimulus measures before taking action once more. Now, millions more Americans have become unemployed and

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Republicans Finalizing Their Next Coronavirus Relief Package

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After days of intra-party squabbles and months of delays, Republicans on Thursday came closer to an agreement among themselves on another economic stimulus package that would help Americans reeling from the resurgent coronavirus pandemic.

The proposal, which is expected to be unveiled later this week, will ultimately need the support of Democrats and is likely to change if it becomes law.

One of the biggest priorities for President Donald Trump — a payroll tax cut — will not be in the bill. The idea had little support within the Senate GOP despite the president’s monthslong insistence on it.

The package will, however, include another round of stimulus checks, as well as some kind of extension of enhanced unemployment benefits.

“We want to make sure that the people that are out there that can’t find jobs do get a reasonable wage replacement so it will be based on approximately 70% wage

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Coronavirus: Money questions to ask your partner in a crisis

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Aaron Clarke is a certified financial planner and wealth advisor at Halpern Financial.

Money can often be a complicated topic with your partner in normal times, but the pandemic has only increased that financial stress for many couples. Even in the best of times, if there is a misalignment of what each person finds important and the couple can’t talk about these differences, it is bound to be a pain point.

Here are a few helpful ways to navigate challenging financial times with your spouse or partner — and maybe even improve your long-term financial picture at the same time.

A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)
A couple wearing masks are seen hugging on the sidewalk as the city enters Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on July 21, 2020 in New York City. (Photo by Alexi Rosenfeld/Getty Images)

Even beyond the traditional “are you a saver or a

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164 Pairs of Shoes Rest on the Capitol Lawn as Protest for Nurses Who Died Fighting Coronavirus

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On Tuesday, a group of nurses joined at the nation’s Capitol to make a powerful and devastating statement. They placed 164 pairs of white shoes were placed on the lawn to represent the number of nurses who have died while working amid and against the coronavirus (COVID-19) pandemic. The display served as a vigil for the colleagues lost in the fight, but it wasn’t just a place to grieve—it was a call to action.

Jean Ross, the president of the nationwide union of registered nurses, National Nurses United (NNU), told CBSN on Tuesday that many people have referred to nurses as “heroes” during the pandemic. Then, she said, “Your heroes should not be dispensable. We’re not expendable.”

“We are getting sick. We are dying along with other healthcare workers. There are things our government can do. This is critical,” she continued.

According to a press release from NNU, the union

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How to Make Trump’s Coronavirus Briefings Actually Good

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(Bloomberg Opinion) — One of the greatest outrages in the U.S. response to the coronavirus pandemic has been the way the government has failed to offer the people useful, trustworthy information. That’s still true, even as President Donald Trump has restarted his daily Covid-19 briefings.

While some outlets have praised his more somber tone, the problem with the previous briefings was not a lack of pessimism and gloom.

The problem was that the president offered almost no usable information about the risks Americans faced, what was being done with our tax dollars to fight back, or an honest evaluation of the various efforts on the part of the pharmaceutical industry.

He has another chance now. But first, he should stop hogging the microphone. The new briefings have featured the president standing alone. What we need is not just more of Anthony Fauci, a bright spot from the earlier briefings, but

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