The COVID-19 pandemic has taken a toll on the national economy and left millions of Americans without work. With the extra $600 a week in federal unemployment benefits expiring in July, President Trump has approved an executive memorandum intended to provide $400 per week in expanded benefits for those who have lost their jobs due to the pandemic. While Trump’s memorandum would make those payments retroactive to August 1, backlash from Congress and a lack of state funding could delay this money from reaching Americans’ bank accounts.
This week we asked our audience how they are managing their finances amidst the pandemic, comparing their latest responses to those collected in April. We look at those who have altered their budgets and the areas where they are cutting back on spending. We also examine the impact of the lapse in extra unemployment benefits, as well as sentiment around COVID-19 surcharges.