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Managing Your Finances During the COVID-19 Crisis

CFP® professionals are committed to helping their clients navigate the financial impact of the coronavirus crisis. To help you protect and manage your finances during this stressful time, CFP Board has gathered the articles and resources below from a range of reputable sources. New resources will be added regularly, so check back often.

If you want help navigating your finances through these trying times, you can use our “Find a CFP® Professional” tool to contact a CFP® professional who can help you secure your financial future.



Get Details on COVID-19 Tax Relief offers a dedicated section on coronavirus-related tax relief, including information on stimulus payments. You can find answers to frequently asked questions about the payments, as well as the “Get My Payment” tool to check a payment’s status.

FAQ on Student Loan Relief

The Consumer Financial Protection Bureau offers answers to frequently asked questions about the measures in effect to help student loan borrowers. Find out more about which loans qualify for the temporary 0% interest rate and suspension of payments, as well as more details about how these measures affect loan repayments.

Beware Coronavirus Pandemic Scams

Consumer complaints to the Federal Trade Commission related to COVID-19 have spiked in recent weeks. If you think a scammer is targeting you, don’t give out personal details or your financial information. You can learn more about scams to avoid and report any type of fraud at the FTC’s website devoted to COVID-19 information.

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Filing for Unemployment Benefits

If you or a loved one are suffering from a job loss, the Department of Labor offers information on filing for unemployment insurance. Learn more about who is eligible and how to apply, as well as find links to state unemployment insurance programs.

Relief for Small Business Owners

Small businesses have been hit hard by the COVID-19 crisis. The Small Business Administration offers multiple funding programs to provide relief.



How the American Rescue Plan Act May Help You

The third stimulus law offers a variety of financial benefits to provide relief for individuals and families. U.S. News details the new COVID-19 relief measures, ranging from tax credits to unemployment benefits.

What You Need to Know About the Latest Stimulus Checks

While the American Rescue Plan Act provides another round of stimulus checks, the amount and the eligibility rules are not the same as before. spells out the differences for the third round of stimulus checks.

New Law Expands Child Tax Credit

The American Rescue Plan Act provides a variety of changes to the child tax credit for the 2021 tax year, including allowing half of the credit to be distributed through monthly payments in the second half of the year. explains the changes that may provide relief to millions of families.

Subsidy Helps Laid-Off Workers Pay for Health Insurance

As part of the American Rescue Plan Act, laid-off workers may qualify for a COBRA premium subsidy to help maintain their employer-sponsored health insurance. answers key questions about this health care subsidy.

How the Recovery Rebate Credit Works

If you didn’t get a 2020 stimulus check, or the full amount, you may be able to claim the recovery rebate credit on your 2020 tax return. explains what the credit is and how to calculate it, if you are eligible.

Pandemic Relief for Small Business Owners

Small business owners should review the second stimulus relief package to see if they are eligible for relief measures, such as an employee retention tax credit or a second draw from the Paycheck Protection Program, says Brian Bruggeman, CFP® in this Retirement Daily article.

Tax Tips If You Tapped Your Nest Egg in 2020

If you took money out of your retirement account to weather 2020, prepare now to deal with the tax issues that such withdrawals will create when you file your tax return this filing season. explains the options for taxpayers who used the CARES Act provisions to tap retirement accounts last year.

Who Qualifies for Boosted Unemployment Benefits

The second stimulus relief package provides a boost to unemployment benefits. offers answers to some common questions, such as who is eligible for benefits and how long benefits will last.

Filing a Tax Return When You Are Unemployed

During the pandemic, many Americans have suffered job loss or furloughs. Whether you worked part of the year, received unemployment benefits or picked up freelance work, your tax situation for 2020 may be more complicated than usual. offers tax planning tips as the 2020 tax year comes to a close.

What to Do With Unused Travel Money

Having to cancel a vacation is a bummer. But as CFP® Ambassadors Brittney Castro, CFP®, Marguerita Cheng, CFP® and Felicia Gopaul, CFP® tell Real Simple, there are some smart and some fun ways you can maximize the travel money you didn’t end up spending.

What Happens If You Default on a Loan

The coronavirus pandemic has caused financial hardship for many Americans. If you are struggling to keep up with loan payments, U.S. News spells out what you need to know about loan default and tips for how you can avoid it.

Maintaining insurance Coverage If You Lose Your Job

Many workers participate in group plans for life and disability insurance through their employer to cover their insurance needs. But what happens to that coverage if you are furloughed or lose your job? offers tips for staying covered while facing employment uncertainty or job loss.

Be Tax-Smart If You Loan Money to a Family Member

Helping out a relative who’s having financial problems in the pandemic may seem like a no-brainer. But pay careful attention to the IRS rules for making loans and gifts so that your good intentions don’t land you in trouble with Uncle Sam. spells out the tax rules.

Nothing in life is to be feared; it is only to be understood. Now is the time to understand more, so that we may fear less.

— Marie Curie

Maximize an HSA During the Pandemic

CNBC looks at various ways that you can utilize a tax-advantaged health savings account during the coronavirus crisis. You can now use the account to pay for more types of expenses, such as over-the-counter medicine, while the unemployed can use HSA money to pay for health insurance premiums, including COBRA. And if you’ve been delaying reimbursement for eligible expenses from your HSA, now may be the time to do so if you need cash.

Get Your Estate Planning Documents in Order

The COVID-19 crisis is a sad reminder that it’s important to have your wishes spelled out to protect your loved ones and your assets in the event you become incapacitated or pass away. U.S. News’ Susannah Snider, CFP® lays out the steps to building an estate plan.


Claiming Social Security in a Pandemic

Older workers who suddenly become unemployed may consider whether they should claim Social Security benefits earlier than they planned. The New York Times looks at the pros and cons of different strategies for claiming benefits during the pandemic.

Get a Free Credit Report Every Week

Watching your credit report like a hawk just got easier. Instead of just once a year, the three major credit bureaus are now allowing consumers to access their credit reports free every week at until April 2021. Her Money explains how you can maximize the increased access to your credit information.


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