Hi and I hope you all read this #MammothMonday blog post to the end and I really hope you share this one with your friends because it is packed with extremely important advice. I found some of this information online and I tweaked it for my readers.
I am going to start this blog post by saying, STOP AND THINK BEFORE YOU SPEND YOUR STIMULUS CHECK. First, to all you renters out there, the government has basically said you do not have to pay your rent and that there is a ban on evictions. My advice to you is that you better do whatever you can to pay your rent. There will soon be major repercussions when eviction bans are lifted. Do not think for one minute that you will get a free ride out of this because the odds are not in your favor. PAY YOUR RENT! Your landlord has bills to pay too and eventually they are going to be allowed to collect.
This next piece of advice is to all you homeowners. The government has told the banks to stop mortgage payment collections, My advice, DO WHATEVER YOU CAN DO TO PAY YOUR MORTGAGE OR AT LEAST PUT THOSE PAYMENTS IN A SEPARATE SAVINGS ACCOUNT!. Some lenders are saying that you do not have to pay your mortgage for 3 months, but on the 4th month, all four payments are due in full. Most people do not understand this. Some banks like Wells Fargo for instance are telling its customers that they are working out programs so they want you to call back before the 90 day period is over to see if there is a development that will put those deferred payments at the back end of your loan. Do not take a chance and spend those mortgage payments before you have signed paperwork from the bank stating that they indeed have deferred those payments to the back end of your loan. Right now, those payments are only deferred for 90 days….PERIOD! Major foreclosures will come from all of this, do not put yourself in a situation where you are one of them.
Third, if the utility company suspends your payments, try your best to pay any amount you can against your account! They are like banks in that they will want their money eventually and when all this Coronavirus nightmare clears up, you will owe an exuberant bill and may possibly lose your utilities. Pay whatever you can this way when the time finally comes that your account is due in full, your situation will be manageable.
My forth piece of advice is to please keep in mind that the government stimulus check is not a random gift, this check is to help you pay your bills while you are temporarily unemployed or financially burdened during this period of quarantine. That means you have been given assistance to help you pay your rent, your mortgage, your utilities, your insurance, your car payment or any bill that may come due. This stimulus check is not for frivolous spending.
Finally, the real and sad problem is that many of you who receive this stimulus check.will not pay their bills and unfortunately will then be crying and wailing saying, “They evicted me. They cut off my power, they repossessed my car...” All this will be happening while you are broke and carrying that empty purse you bought with your stimulus check. Right!! The government may be handing out money but it is not a free for all people think wisely and PAY YOUR BILLS!!!!
While you are in quarantine, keep your mind sharp by reading. I have a recommendation today and it is called Crushing It. It is a perfect read to compliment this blog post because it will teach you to take what you have and use it to build your dream. If you cannot borrow a copy from your local library, here is a link to get your own copy from Amazon >>> https://amzn.to/2OHJCFg
If you choose to shop in Amazon, I would greatly appreciate it if you could use the link I have provided. As an Amazon Affiliate, it is possible I can earn a bonus and therefore continue to provide continued content we all enjoy. Thank you in advance!
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