ROCHESTER, N.Y. (WROC) — A solid financial plan includes preparing for the unexpected.
The COVID-19 pandemic, and the millions of layoffs that have resulted, has served as a strong reminder that it’s never too early to plan for a financial crisis.
Malik Evans, a Financial Wellness Manager at ESL Federal Credit Union, discussed the steps you can take to put a good plan in place Wednesday during News 8 at Sunrise.
Evans said have a budget and make saving automatic. Having three to six months of savings in the bank can help you prepare for an unexpected pandemic, job loss, or illness.
If you are facing financial troubles, Evans says call your financial institution, create a payment plan, and be proactive.
He added, you are not in this alone. There are numerous resouces in our community to assist you with your financial troubles, including the Consumer Credit Counseling Service of Rochester and the City of Rochester Financial Empowerment Center. You can get one-on-one counseling to address your debt issues.
For more information you can also go online at esl.org/resources-tools.