Consumer Tips

The worst possible option for paying your bills

By | Claudia Deeg
Associate, CALPIRG

Living in California, I’m currently spending 56% of my income on rent. Most financial advisers say you shouldn’t spend more than 30%. Apparently this qualifies me as “severely cost-burdened,” according to the California Budget & Policy Center.

However, I’m extremely lucky that I’ve kept my job so far since the start of the coronavirus (COVID-19) pandemic. When rent was due on April 1st, I could pay it. Sadly, many others couldn’t.

News Release | CALPIRG Education Fund | Consumer Tips, COVID-19

On the first of the month, here’s how to address bill payments challenges during COVID-19

CALPIRG Education Fund released a guide Tuesday with tips for how consumers can negotiate with their banks to lower interest rates, waive overdraft fees, and agree on payment plans to provide more financial peace of mind in the months to come. 

 

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