4 Things to Do with Your Money Right Now As the world continues to grapple with COVID-19, the ongoing volatility and uncertainty has many Americans questioning the security of the U.S. financial system – and scrambling to find safe havens for their money. But financial experts are urging us not to panic. For many of us, that’s easier said than done, but there are practical ways to spend (or not!) our money right now. Here are four tips to help you continue to improve your financial wellbeing in this time of crisis. 1. Reconsider big purchases. Tempted by 0% financing on a new car? Really want to upgrade your smartphone? Desperate for a home office makeover? Just because you can afford it at this moment doesn’t mean you should buy it. Now is the time to conserve and reserve your money. If you’re determined to spend, however, consider something really practical—like life insurance. 2. Make minimum payments. Staying current on your bills and debts is key – but during a crisis, paying only the minimum is fine. Though you want to keep spending under control, it’s also okay to fall back on your credit cards if you don’t have enough money in your checking account or emergency cash fund to cover basic, necessary expenses. But if you do, consider one with cash-back rewards, like Affinity’s Pure Rewards® or Cash Rewards® Visa cards, so you’re essentially saving money each time you use it. 3. Invest in the future. Resist the impulse to panic-sell your stocks. And not only should you not sell, you also shouldn’t stop putting more money in, if you can afford it. If you have regular automatic transfers from your bank account into an investment account, or if a portion of your paycheck goes into a 401(k) or other retirement plan, keep doing what you’re doing. Focus on the long-term. The market will recover eventually—and so will your investments. 4. Help others, if you can. If you are feeling financially stable, use your money to help friends, family and your broader community. Continue to patronize local businesses and tip generously, or purchase gift cards to use later. Consider purchasing devices – tablets or other communication technology – to help those in high-risk environments stay in touch with people so they’re not completely isolated. Local food banks are also in desperate need of donations. Affinity is partnering with local food banks across New York, New Jersey and Connecticut to help struggling families in our communities during this challenging time. Be sure to check our website for details of our online food drive. With jobs disappearing, hours being cut, markets crashing and retirement balances shrinking, it’s not easy to stay positive about our finances during this time of crisis. But it’s important to try looking past the “now” and stay focused on long-term financial wellbeing. For additional information and updates from Affinity about COVID-19, please visit https://www.affinityfcu.com/banking/we're-here-for-you.aspx This information is for informational purposes only and is intended to provide general guidance and does not constitute legal, tax, or financial advice. Each person’s circumstances are different and may not apply to the specific information provided. You should seek the advice of a financial professional, tax consultant, and/or legal counsel to discuss your specific needs before making any financial or other commitments regarding the matters related to your condition are made.