My Five for Friday (July 10, 2020)
What should you do when you work for someone who is corrupt? Curious about how PPP loans affect personal credit? Or needing a plan for how to navigate further financial crises?
These questions and more are answered in this week’s My 5 for Friday.
1.Can The PPP Loan Affect Your Credit Score? by Bob Lotich. In this article, Bob Lotich and relator, Jake Blount discuss whether or not a PPP Loan can affect your credit and future mortgages. Blount discusses his personal experience with the PPP loan negatively affecting his credit score and what you should do if is also affecting you.
2.How to Prepare for the Next Financial Crisis by Kumiko Love. Love shares that a financial crisis is something that all people will inevitably experience. Love argues that you should create and emergency fund and set a realist budget. "The foundation of a realistic budget isn't based on what you want to spend, it based on what you are actually spending right now."
3. What Should I Do About a Corrupt Boss? by Will Sorrell. Although no one wants to report their superior for corrupt behavior because it might endanger their own livelihood, Sorrell argues that believers have an obligation to speak the truth and stand for justice and although it may cause suffering, we can trust that the Lord and share in his glory.
4.Personal Finance Lessons From the Pandemic by Paul B. Brown. Brown relates his own personal experience with the pandemic and how it has affected his personal finances. Brown shares what he would do different and how the pandemic has prepared him better for the future and retirement,
5. Nearly Half of Americans Say They Won't Be Able to Pay Their Bills Without a Second Stimulus Check, New Money Survey Finds by Prachi Bhardwaj. Bhardwaj reveals sobering statistics about the financial state of half of Americans. These statistics remind us that the financial effects of COVID-19 have not dissipated for a large number of Americans.