The Weekly Newspaper of Inglewood
Herald Publications - El Segundo, Hawthorne, Lawndale & Inglewood Community Newspapers Since 1911 - (310) 322-1830 - Vol. 69, No. 32 - August 6, 2020
The Inglewood Public Library Helps
You Get Back into the Workforce
Looking for work and need help writing and formatting your resume? The Inglewood Public Library is offering resume writing assistance to members of the community on Tuesday’s from 2-3pm. For more information, please visit: www.cityofinglewood.org/1409/
Virtual-Events. Photo courtesy City of Inglewood.
“Purposefully dedicating time into developing yourself is one of the keys to being effective in life.”
Finance
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Sound Financial Tips During
Pandemic Uncertainty
See Finance, page 8
(BPT) - The current COVID-19 financial
landscape is unpredictable, causing anxiety for
people of all ages. With layoffs, unexpected
medical expenses, and an ever-changing and
uncertain economy, it’s easy to worry.
“Now more than ever is the time to take
an active approach with your finances to
position yourself for success,” says Danielle
Seurkamp, CFP. “Knowledge is power during
unpredictable times.”
Andy Mardock, CFP, agrees. “Emotions
are running high with coronavirus concerns.
Being informed helps you resist gut reactions
driven by emotion so you don’t make a move
you later regret.”
Both Seurkamp and Mardock are members
of the National Association of Personal
Financial Advisors (NAPFA), an association
of fee-only financial advisors who adhere
to a fiduciary standard. Together they offer
important financial tips to empower you to
make wise financial decisions today and in
the future:
Create a budget and identify which bills
are locked-in and which are discretionary.
Then decide what can and can’t be cut.
For those who have lost significant income,
contact providers as soon as possible to
explore options.
“Many companies are waiving late fees,
establishing payment plans or deferring
payments,” says Mardock. Foreclosures and
evictions have been suspended in many cases.
Contact your financial institution for relief
on mortgages and other loans in the form
of payment deferrals or forbearance to ease
the pressure. For business owners, review
the rules of CARES Act loans as well as the
requirements for loan forgiveness to ensure
you’re taking care of both your employees
and your company.
Medical costs including over-the-counter
drugs and menstrual care items are now
considered a deductible medical expense.
Seurkamp says you should consider using
money in your flexible spending account
on these items to reduce the burden on your
monthly income. COBRA insurance premiums
can also be paid using money in an HSA.
“If you haven’t filed a tax return for 2018
or 2019, file one as soon as possible to
qualify for a stimulus check provided by the
federal government as part of the CARES
Act,” says Seurkamp. “If your 2019 income
was lower than 2018 or you added a child
to your family last year, file your 2019 return
now to potentially qualify for a higher
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