Enroll l Learn More

Forgot Login ID?

Investments/InsuranceLearn More | Login

Managing Money in Unpredictable Times

Managing Money in Unpredictable Times

In uncertain financial times it is critical to create a plan for your finances. Here are some tips and resources that can help.


Start with a Budget

A budget is a critical money management tool that shows you how cash is flowing in and out of your household. It can also help you see if you are living above your means or where you may be overspending.

  • Need a budget? Download our Budget Worksheet.
  • If you already have a budget, it may be necessary to update it if your income or expenses have changed. Ensure your budget matches your new circumstances.
  • Learn more about budgets at
  • Scale back on non-essential spending
  • Contact creditors if you cannot make your payments
  • Get your family members involved in the process so everyone is on the same page.


Tap Your Resources

Utilize Your Savings

If you are experiencing income disruption it may be necessary to draw on your savings. Don't forget about secondary savings accounts and certificates. This is also a good time to use rewards, points, coupons, and those gift cards you've been keeping.

Retirement Funds

If possible, avoid utilizing retirement funds. However, if you are experiencing a financial hardship you may want to consider a loan or early withdrawal as a last resort.

401(k) Loans - If your retirement plan offers a loan option the maximum amount a participant may borrow is 50% of the vested account balance, or $50,000, whichever is less. Visit IRS.Gov for details. 

Reorganize debt

If you are in need of cash, or need to reduce your current payments, take a look at restructuring your debt or leveraging your assets.

  • Consider refinancing higher rate debt to consolidate and/or lower your monthly payments
  • Swap-N-Drop an auto loan from another institution
    • You could lower your rate up to 2%, as low as 2.99% APR*
  • With today's low rates, refinancing your mortgage** could help you lower your payments
  • Think about accessing the equity you've already built in your home to cover unexpected expenses with a Home Equity Line/Loan 


Get Help

Asking for help can be difficult, but it is important to remember that there are federal, state, and local resources who want to help. If you have experienced a job loss, file for unemployment as soon as possible. It may take several weeks to process your request. To get started visit the unemployment resource center in the state where you were employed, or the department of labor for certain federal employees. 


Federal Student Loans

For the latest updates on Federal Student Loan relief, including the student loan payment pause, please visit:

Food and nutrition programs

There are essential food programs for those in need. If you are experiencing food insecurity we encourage you to learn more.

*APR = Annual Percentage Rate. Minimum finance rate for this special is 2.99% APR. Maximum loan term is 72 months. Vehicle model ten years and newer. No other discounts apply. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. Not all applicants will qualify for the lowest rate. All loans subject to credit approval. Other restrictions may apply. Membership eligibility required.

**Mortgage services provided by Member Options, LLC (licensed by the Virginia State Corporation Commission, VA License #MC-5520) NMLS #194038 ( a wholly owned subsidiary of UVA Community Credit Union. Equal Housing Lender.  

***For informational purposes only. Please visit government sites for the most accurate and up-to-date information.

Printer Friendly and PDF