As COVID-19 continues its assault on the world, Congress is trying to come together to pass another relief bill to help US families. They passed the CARES Act in March, but most of the aid that came with the bill is gone now. Enhanced unemployment benefits ended on July 30; state and local governments are also signaling the need for more help.
While Congress works to get their act together, the American people are stuck in limbo. Many of them are figuring out ways to keep their families afloat and in good financial positions. Tate Advisors is there helping out people who need it.
Congressional Fighting Leaves Americans in Limbo
Partisan arguments are preventing Republicans and Democrats from getting anything done. President Donald Trump ended the negotiations on October 6 after months of incessant bickering on both sides of the aisle. A few days after he did that, he announced lawmakers were working on a “bigger deal” with his administration again.
During an interview, Trump said, “I would like to see a bigger stimulus package, frankly, than either the Democrats or the Republicans are offering.” He also floated a $1.8 trillion price tag to try to get negotiations moving again.
Meanwhile, in the Senate, Majority Leader Mitch McConnell (R-KY) announced a new stimulus package on October 13. The Republican leader said the bill will be worth $500 billion, well under the more than $2 trillion package House Democrats want.
McConnell said the bill is a targeted bill and said senators will vote on it soon. Democrats in the House are not eager to pass any bill by their colleagues in the Senate. Speaker of the House Nancy Pelosi (D-CA) said nothing when the majority leader made his announcement. Instead, representatives continue to work on their own plans. Therein lies the problem, both sides have gone to their respective corners.
Now, without an end in sight, Americans are taking control of their own finances.
The first thing anyone who is trying to get their finances in order should do is pay down their debt. Having too much debt makes it hard to get loans, decreases credit scores, and is just stressful. It also makes it harder to reach financial freedom.
High-interest debt is perhaps the worst. This is debt that continues to accumulate more debt. Often, that is the result of credit cards. Some people owe a lot of money to several different lenders. When that happens, it’s harder and more stressful to pay the money back.
That’s where debt consolidation loans from companies like Tate Advisors come in.
If you are struggling with high-interest credit card debt, taking out a loan may be a good solution. This will allow you to pay off the balances on the cards, essentially moving all of the debt under one loan payment. So, there are no more worries about missing the due date of one of those bills.
Instead, you will be able to focus on one payment every month. The best part about that, other than the convenience, debt consolidation loans often have much lower interest rates than individual loans. Why does that matter?
When you have a lot of debt with high-interest rates, and you are only making the minimum payments, it can feel neverending. That’s because people sometimes end up owing 27% more than they had originally. With a debt consolidation loan from a company like Tate Advisors. you’ll be able to pay the money down quicker and enjoy more of your time.
Congress Might Not Come Through, But You Can
The reality is, Congress may never pass a stimulus bill. The partisan disagreements could very well get in the way of that. Instead of relying on your representatives for help, you can help yourself by paying down your debt and setting money aside for an emergency. If you do that, you’ll be on your way to financial freedom in no time.