From staff reports
Community Services of Venango County offers a variety of services and programs, and that roster includes budgeting assistance.
“We do life skills for people and we offer budgeting help. I think there is concern that people may not be able to handle that (federal) relief check when it comes,” said Mary Jeanne Gavin, executive director of Community Services. “So we’ve made up a list on how to use your check wisely.”
Budgeting assistance, whether for the relief/stimulus check or for financial help, is available by calling Meghan Dunham, the agency’s social services program director, at (814) 676-5011.
Take care of your immediate needs
Above all else, make sure your immediate needs are met. This includes monthly utility and credit card bills, rent or mortgage as well as food.
Also consider that many jurisdictions, utility companies and even food pantries are offering relief due to the outbreak.
See which programs you can take advantage of, then allocate funds accordingly. Please call 211 for a list of these programs and resources.
Pay your taxes
The April 15 deadline for filing and paying income taxes has been pushed back to July 15. Those who haven’t filed – and will owe the government money – could use the stimulus check to cover their tax payment.
If you haven’t already saved for federal and state income taxes and are facing financial hardship, consider giving the money right back to the government.
Reduce your debt
The less interest you have to pay, the more funds you’ll have available in the future. But before you do that, some of those debt holders are offering relief in this time period, including deferred payments and waived interest.
Just be sure to read the fine print, as some of the assistance offered could delay interest rather than forgive it.
Start or add to an existing emergency fund
It can’t be stressed enough how important it is to have an emergency fund. As this outbreak shows, the world can change very quickly.
The fund should be equal to the amount of money spent on expenses for three to six months.
While the $1,200 (federal check) will likely not cover that entire amount, it can be used as a starting point. A simple savings account can be used to keep the money safe and it will gain a bit of interest over time.
