139th News

Coping with Financial Issues of COVID-19 - Part 20

  • Published
  • By Randy Gerard, Personal Financial Counselor

The Resiliency Team held four separate briefings covering the Four Pillars (Mental, Physical, Social and Spiritual) and I was thrilled to have about 40 attendees in my session related to finances during COVID. I sent out an email the first of the week announcing the topics for August (Thursdays at 1:00), I hope you all saw it and attend any or all sessions that appeal to you. If there is a topic not covered that you desire, let me know and we can cover that individually or at the unit level if you are in charge of a group.


I. HEROES Act and HEALS Act Update:  As of August 6, the status of the next phase of financial relief/stimulus is still in flux. Here is the latest from what I can find:

  • The President (who has taken over Republican negotiations) has countered on this item to increase the unemployment supplement to $400 through December 31, 2020, but speaker Pelosi is maintaining $600 through January 31, 2021. The President has increased aid to local governments to $200 billion, including $105 billion for education, but Democrats are still seeking $1 trillion. The White House has also agreed to extend the moratorium on evictions through the end of the year and in response, the Democrats have accepted $10 billion for one year in USPS aid instead of the $25 billion over three years in the original May version.
  • To this point, at least both sides agree on repeating the stimulus checks ($1,200/$500), but the White House proposal does extend the dependent child payment to any dependent, regardless of age.
  • The media is saying that Senators are supposed to leave today,Thursday, August 6, for an extended weekend and the summer break for Congress is pending also. The window for a new compromised bill is closing rapidly, stay tuned!

II. PFC Briefings for August:  To help you plan, here are the planned topics for August. Take a look and if any meet your current needs or are topics that you have interest, please join me on Thursdays from 1:00-2:00.

  • August 6 – Saving and Investing
  • August 13 - All About Credit: Reports, FICO Scores and Re-building Bad Credit
  • August 20 – “Can’t ALWAYS Pay Cash!” – And Debt is Getting in the Way
  • August 27 - Buying a Home: Loans, Process, VA benefits

I encourage you to check in with me and discuss any situation. My consultations are free, anonymous and confidential. Don’t hesitate to reach out by phone, email or ask for a private Zoom session for you or your family members. Be Vigilant and STAY SAFE!

Randy Gerard, PFC
C (573) 415-6934
O (816) 236-3659

This week’s thought: “Freedom seems like it means the right to do anything in the moment. But really, only with discipline do you achieve real freedom.” ~Elissa Buie