Financial

Financial Resources to Help Get Through COVID-19

The coronavirus, also known as COVID-19, is impacting households, communities, and businesses. As of mid-July, half of American adults reported they had lost employment income because of the pandemic. About one-in-four adults reported that they either missed last month’s rent or mortgage payment, or had slight to no confidence that their household could make the next payment on time. The frequently asked questions below highlight some common financial challenges as a result of the COVID-19 pandemic. The answer to each question has links to government websites and the types of assistance that might be available. We will keep updating this information as new policies and resources are put into place.  Updates can be found at https://fyi.extension.wisc.edu/toughtimes/covid-19-financial-resources/

If you would like to talk to a financial counselor about your situation, options include:

  • Free – The UW-Madison Extension has financial educators who can help you find resources and come up with a personal plan. Find contact information for Extension financial educator by clicking on this link.
  • Free – The Association for Financial Counseling and Planning Education is currently offering free financial counseling and coaching with their certified professionals. Click here to visit the AFCPE website to set up an account and request services.
  • Free or low-cost – The National Foundation for Credit Counseling is a network of nonprofit consumer credit counseling agencies that provide services online and over the phone. Click here for the NFCC website or call 833-746-7577.

Your Money Your Goals – Budgeting Class

In this class, we will go through the purpose of budgeting, why you should track what you spend, and how to set realistic goals.  During this class you will complete an estimated spending plan and begin working on your personalized financial goals.  At this class, you will have an opportunity to set up your free individual financial coaching appointment with Jeanne Walsh, Chippewa County Extension Human Development and Relationship Educator.  Please call 715-726-7950 or email jeanne.walsh@wisc.edu to reserve your seat at one of the following times below.  All classes will be held at the Chippewa County Extension Office located in the Chippewa County Courthouse, Room 13.

All session are currently being held virtually.  Please contact Jeanne Walsh to coordinate.

Money Matters

In these online modules, you can learn about your financial strengths, gain new money management skills and build knowledge you can share with others–your kids, your spouse, friends, co-workers, and more. Start with the Financial Strengths module below. Then choose another topic you’d like to learn more about.

It’s Your Credit

Your credit report is a detailed record of your credit activities from the past 7-10 years. Credit reports are increasingly important to everyday life—getting a job, obtaining an affordable loan or insurance policy, or renting a home.

Everyone is entitled by law to three free credit reports each year—one from each of the three credit bureaus: Equifax, Experian, and Transunion. You can order your free reports through the mail, by phone or the official website annualcreditreport.com.

UW-Madison Division of Extension will help you remember to order your reports through our “2/2, 6/6, 10/10” educational campaign. We suggest that you view one report every four months to be sure your information is up-to-date and accurate. Sign up at “Check Your Free Credit Report” . This website lets you sign up through UW-Madison Division of Extension to get three email reminders throughout the year.

No one will keep an eye on your credit report for you. Regular, careful reviews of your credit report will help you identify any incorrect or fraudulent information, and it can help protect you from identity theft. For more information, contact Jeanne Walsh at jeanne.walsh@wisc.edu or (715)726-7950.

Articles of Interest

Advance Child Tax Credit Fact Sheet – English
Advance Child Tax Credit Fact Sheet – Spanish

 

Additional Resources

American Savings Education Council
A nonprofit national coalition of public- and private-sector institutions undertaking initiatives to raise public awareness about what is needed to ensure long-term personal financial independence.

Federal Trade Commission
Works to ensure that the nation’s markets are vigorous, efficient and free of restrictions that harm consumers.

Consumer Handbook to Credit Protection Laws
A repository of information on consumers credit, provided by the Federal Reserve Board.

FirstGov.gov
The official U.S. gateway to all government information, is the catalyst for a growing electronic government, including consumer information.

The Investors Clearinghouse
Investor education resources from 21 leading non-profit, governmental and self-regulatory associations and agencies; provides investors with access to a full range of information needed to make wise investment decisions.

The Young Investor Website
A way for kids to learn the fundamentals of money and investing in a comfortable, familiar and interactive environment, was developed by Liberty Financial Companies.