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CLEVELAND CLINIC FLORIDA

FINANCE

We all are aware of the economic impact that COVID-19 is having on the world, our state,

and each of us. Managing finances to cope during this time becomes extremely critical.
Below are some tips that several experts are sharing:

• Create or update your existing budget based upon current financial situation - this allows you to be in
more control and reduce anxiety over your finances.
• Boost your emergency fund - where you can it is crucial to develop and/or save into your emergency
fund especially with unemployment and economic uncertainty abounds.

• Leave your investment/stock portfolios alone - even though the market has been swinging and it is
tempting to cash out investments to avoid further losses, leave it, sit back, and ride things out, the
market will recover.

• Continue putting money away for retirement - even though the prospect of unemployment looms, this
is still a good time to keep funding your retirement funds, provided you’re financially able to do so.
• File your taxes sooner rather than later if you are due a refund, that way the IRS can work on
getting monies out.

• Check the IRS website under the “Get Coronavirus Tax Relief” to see if you are eligible and if so,
what you may be eligible to receive from the stimulus relief. Tap into the Cleveland Clinic Florida
First-Responder Fund Caregiver Hardship Programs if you are experiencing financial hardship.
• Check the Florida Department of Education and Office of Early Learning for financial and referral
services for child care.

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