Volume 05 | April 29, 2020

Managing Your Money During Coronavirus Financial Wellbeing

We’re all taking steps to protect ourselves and our loved ones from getting sick, but managing your finances are just as important, and Crescent wants to help you protect your financial health as well. Here are some practical tips for feeling more confident and in control of your finances during the coronavirus outbreak .  * Details are informative only.

The big economic picture Uncertainty drives anxiety—and that shows up in the economy. With reports of the stock market dropping and businesses scrambling, it’s easy to get caught up in that anxiety. But take a step back—and a deep breath—and look at the big picture. 401k Retirement - Markets tend to return to health over the long term. Financial experts are giving a variety of advice, with some saying that, just like your face, your 401k or retirement accounts may be good things not to touch right now. But it all depends on your individual circumstances and how close you are to retirement, so consider talking to a financial advisor (or your SPG, if you have Crescent's Fifth Third 401k) about the smartest move for you right now.

Managing your debt With rates going down, now might be a good time to get a better handle on your debt. Credit cards . If you have credit-card balances, see if you qualify for a card with lower interest (or a no-interest introductory rate) and transfer your balances from higher-interest cards (though be aware there’s usually a fee for transfers) Manage your mortgage . Have a mortgage? Refinancing at a lower rate can not only reduce your payments now, but help you spend less on interest in the long term. (There are some costs to refinancing, so do your research) Ease student loan stress. If student loan payments are straining your budget right now (especially if your income is taking a hit at the moment), you could look into refinancing or deferring your payments for a time. The recent announcement of a possible student loan interest waiver may have an impact on how these options affect you, so call your loan servicing company to get details

Managing your budget Whenever there’s a big upheaval in the world, the ripple effects can show up in your day-to-day budget. Taking control of your spending can help you weather both the concrete challenges and the stress of the unknown.

Groceries: To reduce waste and grocery bills, center your shopping list on affordable, shelf-stable foods that won’t spoil in case you’re stuck at home for a bit—like rice, pasta, and beans. Look for fresh foods that freeze well (like bread and shredded cheese) and long-lasting produce (like onions and carrots) Medications: Consider picking up just the few things you’d need if you had a winter bug, like cold medicine and cough drops. If you take a prescription medication regularly, give your doctor a ring to ask if you need an extra supply—and be sure to call your insurance to make sure they’ll cover it Shop your own home: You might be surprised at how much you already have in your house to keep you comfortable while saying in. That lonely can of pumpkin in the back of the cabinet? Make  curried pumpkin soup ! The stack of half-finished crafts or unread books in the corner? Cheaper fun than renting movies online! Do an inventory of what’s right under your nose before you run out to buy more Ordering food delivery can be a convenience and a comfort—and it can also eat into your budget quick. Look for mouth-watering recipe blogs that help you commit to cooking at home more often;  Budget Bytes  is a great resource for budget-friendly ideas. (And if you do order in, consider getting food from a local restaurant that needs the support) Financial Insights from: www.simple.com

Shift money as needed Depending on your situation, you might find yourself with some unexpected expenses—like a babysitter if schools are closed. In addition to tightening up optional spending (like entertainment), remember that this is exactly what emergency funds are for—so if you have one, don’t hesitate to use it. On the flip side, if you have a reprieve on certain expenses (like spending less on gas because you’re working from home), tuck that money into your  emergency fund  (or start one now!) so you’ve got a sense of security. Going into debt should always be a last resort, so use your credit card wisely. If you absolutely need to charge a few things in a pinch, consider making a plan for paying off that debt when your finances allow. Save on entertainment (and stay connected to friends) Find creative ways to have fun when your plans have to change. The money you save on going out can bolster your budget or emergency savings—and keeping in touch with the people you love makes weathering any storm less stressful. Take control to cultivate calm Focusing on your budget right now can help you feel more in control of your finances in the midst of uncertainty. If you’re feeling the all-too-common urge to shop online when life feels stressful,  here are some ways  to make curtailing extra spending easier. Try to keep in mind that the current tumult, while distressing, is temporary; the world tends to weather disruptions and return to normal again at some point. We hope these tips will help you find your footing right now—and work toward being prepared for future ups and downs.

INTERNET OF THINGS

5 Subtle Stretches You Can Do At Your Home Desk Feeling tense while working from home? Haven’t gotten your ergonomic desk setup to speed just yet? Step away from the keyboard, take your eyes off the screen, and spend a few moments focusing on your body. A quick stretching break could be just what you need to feel reinvigorated. Get Ready To Stretch- Learn More

NBA Quarantine House- The Votes are in!

It looks like we are going to The Shooter's House! With 47% of the votes, Crescent People have spoken- if we are going to be stuck with anyone it's got to be Stephen Curry, Klay Thompson, Damian Lillard, Ray Allen and Reggie Miller. I don't know what it is about these guys, but If the lifestyle of the NBA’s greatest shooters is anything like their stroke from beyond the arc, the Shooters House is sure to be an experience for the ages. Comprised of some loyal, humble, and electric personalities, this house is for the one who wants to hang out with some of the hardest working players ever. 33% chose the Dream Team house, You ever want to spend time with the greatest players ever? The 1992 Olympic Dream Team is, perhaps, the greatest collection of basketball talent ever compiled to one team. Made up of All-Time greats, the Dream Team House will be perfect for anyone wanting a taste of the old-school lifestyle. To be honest, I have always been a Michael Jordan fan- won't buy the shoes, but I liked him in Space Jam! hahaha! In all honesty- I have seen a few Bulls games in my day! The NBA big-man era may be over, but that doesn’t mean they won’t make good company off of it. With a perfect mix of personalities, the big men house is sure to be one of the most interesting. With Shaq, Dwight, Duncan, Embiid, and KG, it’s almost impossible to get bored- I think I'd stop by for a few good laughs with Shaq! What do you think of the results? Were you surprised?

Shaq Tries to Not Make a Face While Eating Spicy Wings | Hot Ones

Shaquille O'Neal is one of the most dominant players in NBA history, an analyst on TNT's Emmy Award-winning Inside the NBA, and a globally recognized DJ sensation bringing Shaq's Fun House is to Miami Music Fest on March 29th. But how is he with spicy food? Find out as the Big Aristotle has his date with the wings of death.. Along the way, Shaq discusses his history with Kobe Bryant, breaks down his record-breaking Walmart purchase, and joins Sean Evans in a high-stakes free-throw shooting contest.

STAYING SOCIAL AT A DISTANCE  People are social beings; it’s a mistake to think that most people prefer the solitary life when we are most comfortable when we’re connected. Social connection strengthens our immune system, helping us recover from disease faster, and proven to improve physical health and psychological well-being. Crescent strives to continue to be a company connected, we want to share stories, activities, and insights to stretch our minds further, communicate stronger, and remain an active member of our community. Crescent, keeping us social while practicing social distancing.