Millions of Americans are now facing a previously unthinkable reality due to the COVID-19 pandemic.
In the last seven weeks, a record 33 million people have filed for unemployment, and many are unsure how they'll be able to pay rent or even feed their families in the coming months.
While unemployment is technically available for Americans who need it, it can be very emotionally difficult to transition from having a stable career one day to asking for help the next. On top of that, many people have been left waiting weeks for their unemployment checks as states are struggle to handle the surge in filings, and not everyone qualifies for the additional $600 a week offered by the CARES Act.
To learn how to navigate these conversations, Business Insider spoke with personal finance advisor and entrepreneur Ramit Sethi.
While studying psychology and technology at Stanford University, Sethi was eager to learn how to manage and grow his own money. But he grew disillusioned with how many financial experts talked about money — they focused more on what not to do, instead of helping people move forward. In 2008 Sethi founded I Will Teach You To Be Rich, a personal finance website that teaches people how to manage their money and grow their earning potential, too.
He's gone on to become a New York Times bestseller and create Earnable, a platform that teaches students what Sethi calls "the 'CEO' strategy: cut costs, earn more, and optimize your spending."
In a time where your next paycheck may be uncertain, Sethi shared his actionable advice on how you can negotiate down your expenses and debts, and side hustles you can launch amid social distancing.
Read the original article on Business Insider