When the economic impact of COVID-19 hits home

As companies struggle to stay afloat financially due to the economic reverberations of COVID-19, your employees are facing the same challenges at home. The FTC has something you can share with staff members in need – and it won’t cost you a thing.

We’ve created a special page, Financial Impact of the Coronavirus, where we’ve compiled dollars-and-cents tips for consumers, as well as new information specifically addressing the effect of COVID-19 on personal budgets. For example, for people with family members facing job loss, we have information about looking for work after a coronavirus-related layoff. We also have advice on what to do about mortgage payments, car notes, and student loans when there’s less income coming in.

For employees facing financial shortfalls, the FTC has things to think about if they’re considering payday loans or cash advances. We also have tips on dealing with debt, with a special emphasis on managing bills and responding to debt collectors during the pandemic. We haven’t forgotten about the financial strain on small business. The new page includes topics for you, too.

How can you share these resources?

• Talk it up. Mention Financial Impact of the Coronavirus in your daily email update to your staff or refer to the page during an in-house teleconference. Enlist the help of your HR team to get the information to people who may be in need. It’s a simple way to show you understand that global economic events have kitchen table consequences.
• Work your networks. Share information through your company’s social media. We’ve created graphics and videos to help you attract the eye and ear of people who follow you. Use those resources – please!
• Blog, tweet, post, share. On your personal social media accounts, change it up a bit. In addition to photos of a precious pet, your in-home workout, or that cinnamon raisin loaf you’ve almost mastered, share Financial Impact of the Coronavirus. It’s an easy way to get the information to friends and family who may be struggling in silence.

Visit Financial Impact of the Coronavirus regularly for updates.