Millions of Americans try to overcome it through unemployment insurance as some states have paused their reopening plans amid spikes in the number of coronavirus cases. In the midst of economic decline, it is not surprising that lawmakers clamor for a second round of checks, according to a CNBC report.

Democrats pushed for the HEROES Act, now stalled in the Senate, although President Donald Trump in recent days expressed support for another round of funding. “We will make another stimulus package. It will be very good. It will be very generous, “Trump said in an interview last week.

However a possible second round would not be approved until the end of July. Also, for some Americans, the amount will not cover all of their expenses if they are unemployed.

Rather than having a second round of encouragement, here are five steps cited by CNBC that you can take on now to pay your bills and create a firmer financial platform, according to money experts.

1-DETERMINE THE SERVICES OF WHICH YOU CAN DISCLAIM

If money is tight right now, start by determining what expenses you can cut, at least temporarily.

In recent months, many Americans have inadvertently spent less because they have been unable to dine in restaurants or shop normally. Those changes can make it easier to analyze what’s essential and nonessential – check out what you bought in March and April because that’s when you were most likely to spend only on the essentials. From there, she breaks down which purchases were critical and which were the least, says Alexandria Cole-Davis, a Maryland-based financial planner for Facet Wealth.

Another way to think about it is to create a “noodle budget,” which is the lowest budget you can live with, says Tiffany Aliche, a personal finance expert and founder of The Budgetnista. To figure this out, imagine you have to eat only Ramen noodles and pay for the basics, like rent and utilities. What is the lowest possible amount you can spend to live each month? That number is your noodle budget.

2. OPTIMIZE HOW YOU SPEND MONEY

This is probably a good time to look at your bills and determine if you are spending too much on something. Most people hire services like cable or Internet when they move, and then years go by without analyzing bills. But it does not hurt to register and see if there are lower priced options.

Personal finance expert Ramit Sethi says there are five types of bills that you probably pay regularly that you should try to cut: cell phone, cable, credit card, student loan, and home. Many of these companies, as well as your utility and auto insurance provider, may have formal financial assistance programs available at this time. But even if they don’t, it’s worth calling them to try to negotiate your current payment or delay payment until a later date.

3. PRIORITIZE YOUR INVOICES

Once you have reduced your expenses, prioritize where the money you have goes. Browse the numerous assistance and deferred payment programs that can be offered by utility companies, cell phone providers, lenders, and homeowners.

There is no point in putting all your savings or your unemployment check on your mortgage if you have a federally backed loan where you can defer payment for six months without accruing fees or interest.

4. FIND WAYS TO EARN MORE

It may seem strange with so many currently unemployed Americans, but there are still creative (and direct) ways to make money right now, even if you’ve been fired due to the pandemic.

You can start an online business or perhaps work in an industry that has not been so affected by coronavirus closures. It is also worth noting that there are currently several strong federal and state programs in place to help Americans recover financially.

But you don’t have to be an entrepreneur to earn extra money. Many shipping providers, grocery stores, food delivery apps, and even retailers are hiring right now. Part-time work could help you close the financial gap while you are looking for a new job in your field or a related industry.

5. SAVE ANY EXTRA MONEY

As expected, experts recommend saving what you can. All the money that you have managed to cut from your budget must go to pay essential bills or savings. “Now, more than ever, having emergency savings is critical,” says Aliche.

It is ideal to have six months of the total savings budget. While that may sound like a large number, you can start small and gradually build a savings mattress to help you cope with the unexpected costs of life.

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