For those who need to conserve cash during the coronavirus pandemic, there are several ways available to cut back on expenses to achieve this, writes Erin Arvedlund for The Philadelphia Inquirer.

Due to disruptions caused by the coronavirus crisis, Americans have been given three more months to pay and file their taxes. This means that you do not have to pay your taxes right now. However, if you are owed a refund, file your taxes right away.

Now is also a good time to negotiate debt payments. For consumer loans, this means requesting a break in paying off any debt as many lenders are currently granting deferred payments under favorable terms. Meanwhile, for business loans, many lenders have created programs that offer relief through debt payment deferral arrangements and working capital lines of credit. Anyone with student loans could also qualify for a delayed or reduced payment.

Another good move is to also stop any autopayments, such as those to cellphone and cable carriers and ask them to delay your monthly bills.

You can also work with housing and credit counselors who will provide advice for little to no cost.

Read more about how to conserve cash at The Philadelphia Inquirer by clicking here.

[lp-contribute]

[uam_ad id=”64837″]