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  Forty-four million people have filed for unemployment in the past 12 weeks, according to Labor Department data. For anyone who's unemployed right now, cutting every extra expense immediately might be unnecessarily stressful. If you can afford it, gradually cutting discretionary expenses over the course of your unemployment could be a more sustainable method, says a financial planner.  Lower your monthly bills and stay...

Unemployment benefits are considered compensation, just like income from a job. Under the CARES Act, the federal government is paying eligible unemployed people an extra $600 a week until July 31. The additional payment is added on to your regular benefits and will be taxed as income. Read more personal finance coverage. Millions of Americans seeking unemployment benefits due to the coronavirus pandemic are...

When my freelance income disappeared in mid-March, I decided to pause many of my bill payments while I figured out my next financial steps. Pausing my utility payments was no problem, and my mortgage, credit card, and car loan companies all offered to pause my payments. Interest would continue to accrue, but eventually negative credit markers and late fees would be removed from my...