Monthly Archives: May 2020
How to apply for unemployment benefits
People everywhere are being furloughed, laid off, or even being let go from their professional positions. In this time of uncertainty, there is no way to predict which industries or business will have to take those types of steps to stay afloat.
If you do find yourself without a job, you may be able to apply for unemployment benefits, which can keep you financially afloat until your employment situation is rectified. Read on for some tips on the process of applying for unemployment and what you can expect.
Talk to your employer
If you have been furloughed due to the COVID-19 crisis, it’s important that you speak with your employer about your options. Many businesses have received loans or grants that may allow them to offer at least partial paychecks to their employees.
For those businesses who cannot do this, they can still take steps to ensure that your unemployment application process goes more smoothly. Speak to HR before you get started.
It’s important to note that if your employer is filling out the unemployment forms for you because you were let go/have reduced hours due to COVID-19, you do not need to fill out the application form. Your employer will tell you if this is the case.
Get your information together
Applying for unemployment is not a particularly grueling process, but you will need to know specific information. Your employer can provide you with some of this info, and much of the rest should be easy enough to obtain – for instance, details like your company’s mailing address and phone number will be beneficial for you to have beforehand, along with things like your Social Security Number.
Do your research
Applying for unemployment may be something you have never had to do before, so it’s a good idea to do a little research. If you have colleagues or local friends who have applied, send them a quick email to ask for any tips they have for the process. Again, the actual application will not be too difficult, but it’s always a good idea to be prepared. You can also look at places like the Georgia Department of Labor website to learn more details.
Fill out the forms*
Now it’s time to sit down and start the paperwork. The entire application process will take place on the GDOL website, and you will start with entering in your Social Security Number for identification. You will also set up a PIN, which will allow you to access your application later if you are not able to complete it in one sitting.
*Again, please note that if your employer is filling out the forms for you because you were let go or have reduced hours due to COVID-19, you can skip this step. You do not need to fill out the application form.
Follow up
When a Georgian applies for unemployment insurance, they usually have to enter in weekly work searches to prove that you are actively seeking employment. However, in light of the COVID-19 crisis, that requirement has been waived, as long as the separation of employment is related to the pandemic. But it’s still a good idea to keep up with where your application is in the process. You should receive regular updates; if you don’t, contact the GDOL to find out if they need more information.
Know what to expect
Once your application is received and approved, you will be contacted by the Georgia Department of Labor. They will begin sending you weekly payments, either by a Georgia UI Way2Go Debit MasterCard®, which will be mailed to your home, or through direct deposit – you can choose which option you prefer.
The typical amount you can expect to receive weekly (Weekly Benefit Amount, or WBA) is your total wages for the two highest quarters combined, divided by 42. For those applying due to COVID-19, you can also expect a weekly addition of up to $600, depending on whether you elect to have taxes taken from the extra weekly amount.
Other things to know
- As stated above, you can choose to have your unemployment wages taxed before you receive them, or wait to pay those taxes until filing for 2020 next spring. If you do choose to have taxes taken out, there will be 10% taken for federal taxes and 6% for state taxes.
- Even if you are still working, but have reduced hours because of the pandemic, you may still be eligible for unemployment insurance benefits.
- The GDOL has compiled a list of FAQs for these specific circumstances that can be accessed online at any time.
These times are uncertain, but you can still take steps to make sure you and your family have their financial needs met. Be sure to speak to your employer about any questions you may have, and remember that there are many resources on the GDOL website available to you.
How to start an emergency fund
Throughout the COVID-19 pandemic, people have recognized the value of having an emergency fund. People have lost their jobs, faced unexpected hospital visits, and more, leaving some struggling to pay bills. Regardless, it’s still crucial to have funds saved in the event of unforeseen circumstances—26% of Americans have no emergency savings, and only 23% have enough to cover six months’ worth of expenses. Follow these tips to help you get started on your emergency fund, so you’re better prepared for the future.
Track your expenses and spending
Before planning how much you should have in your emergency savings, it’s essential to know your monthly expenses. Calculate how much you spend on your rent or mortgage, utilities, and other necessary items. Tracking your spending is tedious, but there are dozens of budgeting apps, like EveryDollar and Wally, to help you estimate your regular spending.
Set your emergency savings goal
After you’ve gauged how much you spend per month, set your goal of how much you want to save. According to CNBC, less than 30% of households have less than $1,000 saved. That isn’t nearly enough to cover costs in the event of a setback, like a trip to the hospital or unemployment. It’s recommended to have at least three to six months’ worth of expenses saved.
Develop a plan
Once you set your savings goal, it’s time to form a plan of action. Decide what you’re going to do to reach your goal—that could be anything from setting aside a certain amount of money each week to cutting back on unnecessary spending. You can set goals all day, but it’s crucial to know exactly how you’ll reach them—otherwise, it’s easy to fall off track.
Put funds in an accessible place
How you save is extremely important, but where you save is just as critical—if not more. To make the most of your money, put your funds into a high-yield savings account that allows you to easily make transfers between accounts. High-yield savings accounts have higher interest rates than traditional savings accounts—sometimes 20 to 25 times more. While you earn more money in the long run, it’s important to consider factors such as initial deposit or minimum balance requirements and interest rates.
Start saving
Now that you’ve set your financial goals, how you’ll achieve them, and where you’re going to put your funds, it’s time to start saving. One way to help increase your savings is by setting up automatic transfers—you can set an amount to transfer to your savings each week, every two weeks, or each month. Even if it’s only $50, you’ll be surprised at how quickly your savings will grow. Another great way to increase your savings is by setting aside your tax refund. You can set aside all of it or even just a portion—either way, any amount will help get you that much closer to your goal.
Consider what constitutes an emergency
Now that you’ve started to set funds aside, it’s imperative to decide what constitutes an emergency, so you’re only using your emergency fund for its intended use. This could be unexpected hospital visits, car repairs, job loss, or other unanticipated situations. Defining what you consider an emergency is important so you know your emergency fund is used properly, rather than being spent on frivolous things. Remember, it’s not fun money—it’s money you’re setting aside so you know you and your family will be okay should something happen in the future.
Georgia’s Own is here to help you be prepared for the unexpected—visit our website to get started on your emergency fund today.
Fraud alerts: COVID-19 scams to look out for
With so much uncertainty in our world right now, the presence of COVID-19-related fraud and scams is an unfortunate reality. Now, more than ever, it’s important to be vigilant about your protected information and, as your financial institution, we’re committed not only to providing the utmost security for your accounts, but also to increasing awareness around common schemes. We’ll keep an updated list of known scam attempts and tips to stay safe, so check back often to remain in the know. And remember: we will never call you and ask for your account information, social security numbers, or other sensitive material.
The FTC is a great resource for consumers during this time. See below for their recommended best practices and visit their website to learn more.
- Don’t respond to texts, emails, or calls about checks from the government. Here’s what you need to know.
- Ignore online offers for vaccinations. There are no products proven to treat or prevent COVID-19 at this time.
- Be wary of ads for test kits. The FDA recently announced approval for one home test kit, which requires a doctor’s order. However, most test kits being advertised have not been approved by the FDA, and aren’t necessarily accurate.
- Hang up on robocalls. Scammers are using illegal robocalls to pitch everything from low-priced health insurance to work-at-home schemes.
- Watch for emails claiming to be from the CDC or WHO. Use sites like coronavirus.gov and usa.gov/coronavirus to get the latest information. And don’t click on links from sources you don’t know.
- Do your homework when it comes to donations. Never donate in cash, by gift card, or by wiring money.
Be on the lookout for some of these trending scams being reported from the FTC. This blog post is a great way to stay in touch with what other consumers have seen as well.
- The top complaint categories relate to travel and vacations, online shopping, bogus text messages, and all kinds of imposters.
- While reports of robocalls are way down overall, we’re now hearing about callers invoking the COVID-19 pandemic to pretend to be from the government, or making illegal medical or health care pitches, among other topics.
- If you’re getting calls, emails, or texts, or you’re seeing ads or offers online, keep a few things in mind: First, the government will never call out of the blue to ask for money or your personal information (like Social Security, bank account, or credit card numbers). And second, anyone who tells you to pay by Western Union or MoneyGram, or by putting money on a gift card, is a scammer. The government and legit businesses will never tell you to pay that way.
- The big states have, not unexpectedly, the biggest number of reports. You can check out how many people are reporting what in Georgia.
Below are some additional tips from the Department of Justice’s National Center for Disaster Fraud. If you believe you are a victim of a scam or attempted fraud involving COVID-19, you can report it without leaving your home by calling their hotline at 866.720.5721 or via the NCDF Web Complaint Form.
- Be cautious of unsolicited healthcare fraud schemes of testing and treatment through emails, phone calls, or in person. The U.S. have medical professionals and scientist working hard to find a cure, approved treatment, and vaccine for COVID-19. Learn more about what to avoid
- Be the lookout for an increase in cryptocurrency fraud schemes including but not limited to blackmail attempts, work from home scams, paying for non-existent treatments or equipment, or investment scams. Read more on how to report these scams
- Be wary of unsolicited telephone calls and e-mails from individuals claiming to be IRS and Treasury employees. Remember, the IRS’s first form of communications is by mail—not by phone. Learn more about fraudulent schemes related to IRS
Quarantine cooking: recipes to make you feel like you’re traveling the world
Due to social distancing requirements, most people are staying home and cooking their meals, rather than going out to eat. And, because of COVID-19, people were forced to cancel their travel plans. If you’re tired of cooking the same recipes or need a vacation, we have the perfect solution for you—try these dishes that will transform your typical weeknight dinner and have you feeling like you’re traveling the world, even when you can’t.
Creamy chipotle chicken breast
This creamy chipotle chicken breast recipe will make it seem as if you’ve hopped on a plane and traveled to Mexico. Like many Mexican dishes, it’s rich in flavor and looks incredible. Even better? It’s simple to make. You need only a few ingredients, and it takes fewer than 30 minutes to prepare. This recipe is from Mexico in my Kitchen—a food blog dedicated to authentic, Mexican cooking, created by Mely Martinez. The website has dozens of recipes to choose from, too—even vegetarian options.
Croque monsieur
If you’re looking for a hearty sandwich that instantly transports you to a French bistro, what better than a croque monsieur? It’s essentially a grilled cheese, but with a French twist—it’s made with ham, Dijon, bechamel, and gruyere cheese. You can use any cheese, but gruyere is preferred. This sandwich makes for hassle-free cooking that will satisfy your cravings. You can find this and dozens of other French recipes on Mon Petit Four®, a site that is devoted to French fare.
Japanese-style pasta
Although it sounds like a new fusion creation, Japanese-style pasta is prominent in Japanese cuisine. Japanese-style pasta, also known as Wafu pasta, is a pasta dish that has Japanese seasonings and ingredients—usually soy sauce, miso, and nori seaweed. This Japanese pasta is perfect for a quick, easy dinner—it takes only 15 minutes to cook. The ingredients are simple, too—all you need is pasta, shrimp, broccolini, soy sauce, and garlic chili oil. This recipe is from Just One Cookbook—a website that is all about Japanese culture and cuisine, created by Nami Hirasawa Chen, a home chef aiming to make Japanese cooking easy and accessible to everyone.
One-pan Bobotie casserole
Bobotie is a South African casserole that is similar to Greek Moussaka and is typically served with yellow rice. It’s very simple to make and is ideal for those weeknights when you don’t necessarily feel like cooking. The dish is filled with flavor from spices and everything is prepared in one pan. The ingredients can be found in your local grocery store, too. You can find this recipe on All that’s Jas—a food blog that features comfort food from around the world.
We hope these recipes not only help you switch up your mundane dinners but also provide a way for you and your family to escape to different parts of the world—all from the comfort of your kitchen.
Financial tips to help you survive the pandemic
By: Adam Marlowe
If you’re scared or feeling uncertain about the state of your finances during this pandemic, you are certainly not alone. A recent national poll conducted by NPR’s Marketplace showed 33% of Americans were losing sleep over concerns about their finances and 44% were genuinely concerned about being able to afford groceries and other basic necessities in the coming months. We know many of our members are feeling the same stress and anxiety, so it’s more important than ever to make sure you have accurate and actionable information from financial experts to make the best decisions for you and your family. With that being said, I wanted to share some of the key questions we are getting most frequently from our members, and our best practices to navigate through the choppy waters:
Should I refinance?
While it might seem like a good time to refinance your home or take out a mortgage due to low interest rates, if you don’t have enough liquid funds to pay for the closing costs, you probably shouldn’t focus on it for the time being. If it doesn’t happen now, don’t panic, because this step could certainly make sense down the road.
Is my money safe?
If you feel the need to carry more cash than usual, that’s certainly fine, but there is no need to take out huge sums of money—not only are your deposits federally insured by the NCUA, but your money earns interest while it is with your financial institution, whereas cash in your pocket does not. So not only is your money safer and more secure in a checking or savings account, it’s also more valuable in the long run.
Which bills should I prioritize?
If your bills are piling up and you need to prioritize, make sure to pay your cell phone bill. Between staying connected with your friends and family and having a lifeline to your work remotely, your cell phone is an indispensable tool in our new socially distant world. Many providers are currently offering deferred payment options due to the effects of the pandemic, so be sure to see not only what your cell phone provider is willing to do, but find out what other providers (internet, cable, etc.) are offering to help you manage these challenges.
Can I still afford fun?
Even though disposable income is understandably limited during this time, it’s also important to stay sane and have ways to entertain yourself. In the age of streaming, you can find tons of engaging content on many of these services, so while you might need to cut back on some of your entertainment options, keeping a large streaming service with a deep catalog of content is certainly justifiable.
These are just a handful of topics that we are discussing with our members, but if you have other questions about managing the financial burden presented by this crisis, be sure to reach out to us on Facebook, Twitter, or Instagram. We are here to help!
5 industries hiring during the coronavirus pandemic
Because of the coronavirus pandemic, millions throughout the country are out of work as businesses have been forced to make cuts or shut their doors altogether—the unemployment rate has skyrocketed, with almost 26 million people filing for unemployment. Even though many companies have laid off workers, some industries desperately need employees. If you’re searching for a job, check out these five industries hiring right now.
Grocery stores
Grocery stores are hiring thousands right now—major chains, like Kroger and Publix, are in dire need of store clerks, stockers, and cashiers. Kroger has posted at least 20,000 job openings across the country. Also, with more people staying home, grocery delivery services like Instacart need shoppers.
Shipping and delivery companies
With more people resorting to online shopping, shipping and delivery companies, like Amazon, are hiring thousands of workers—Amazon has posted jobs at their fulfillment centers, as well as remote opportunities. UPS hubs are hiring as well, looking for drivers and warehouse workers.
Technology
Popularity in remote meeting platforms has rapidly increased as more of the country’s workforce is telecommuting. Companies like Zoom and Slack have posted various jobs for backend support and customer service, as well as sales. And, tech support companies, such as Support.com, are hiring remote support specialists.
Online learning
As schools across the country closed for the remainder of the school year, over 50 million kids have been forced to resort to online learning. Online learning companies, like Outschool, are hiring instructors. From math and science to English and art, there are dozens of subjects available to teach and more than 10,000 classes offered.
Pharmacies
Almost half of Americans take at least one prescription medicine—despite the ongoing pandemic, people need those medications filled, as well as other conveniences pharmacies provide. So, many pharmacies are hiring more customer service associates and pharmacists. CVS and Walgreens are two major pharmacies that are searching for workers to fill these positions.
We understand that the job market is tough right now—but rest assured, Georgia’s Own is here for you and is determined to help you in any way we can. Please visit our website to view the resources we’re offering to members and the community.