Coronavirus continues to disrupt life, but Digit is here to help you weather the financial storm and keep making progress. We’re gathering some of the most important updates, tools, and resources here and we’ll keep this page updated for you.
If there’s someone in your life who you think could use this info, please share it with them. You can text CORONAVIRUS to Digit for this page's link to easily forward or share with others.
Digit is always looking out for you, saving automatically for you, preventing overdrafts and keeping you informed. We’re here to keep your money safe and help you stay in control.
Here are some tips on how you can better use Digit during these times:
- Use the money saved in Digit when you need it, and customize your goals:
Adjust how much Digit is saving for you:
- Withdraw anytime, and withdrawn funds will land back in your checking account within 1-2 business days.
- Change your Digit goals based on your needs at this time. See here for how to do so.
Read your checking balance SMS updates from Digit
- Set up or adjust your safe saving level so Digit only saves if your checking balance is above a certain amount.
- Double check your overdraft prevention amount so Digit will automatically move available Rainy Day Fund money to your checking account if your checking balance goes below your select amount.
- Pause any goal that's not a priority now so you can keep making progress on the goals that are. See here for how to do so.
- Turn Digit’s boost feature on for each goal you want to speed up savings on. See here for how to do so.
- Set a max daily save amount on your individual goals. See here for how to do so.
- Digit can keep you informed of your checking balance either daily or weekly.
- If there are changes to your balance, you can text RECENT or WHY to Digit to better understand the transactions that caused your balance to change.
- To change the frequency of updates between daily and weekly, text message NOTIFICATIONS to Digit.
Has Digit helped you recently? We want to share your stories with others who might be in the same situation. Email us at email@example.com. We’re going to get through this together.
Get health insurance on Stride Health's marketplace. For many states, there’s a special enrollment period now to get health insurance if uninsured. So we’ve partnered with Stride Health to help you find affordable health care. Stride has worked closely with Healthcare.gov to help over 1 million workers save over $1 billion in health insurance costs. We're not being paid to say this - we just believe in companies doing right by people. Here's the list of states with their associated deadlines as of Apr 22:
- California: Tue, Jun 30
- Colorado: Thu, Apr 30
- District of Columbia: No deadline announced
- Maryland: Wed, Jun 15
- Massachusetts: Mon, May 25
- Nevada: Wed, May 15
- New York: Fri, May 15
- Rhode Island: Thu, Apr 30
- Washington: Fri, May 8
For your work
For your stimulus check
175 million Americans will receive stimulus checks but amounts and methods will vary.
- If you make up to $75,000 a year or are married and make up to $150,000 together, your household should receive $1,200 per adult, with an extra $500 for each qualified child under 17.
- You can still be eligible for a partial stimulus check if you make less than $99,000 a year (or if you’re married and make less than $198,000 together). See this calculator for an estimate.
- Not sure what you made? You can look at a 2019 Social Security statement or, if you’ve done your 2019 taxes, line 8b of your 1040 tax return.
- How and when will you get the check? You can check the IRS’s Get My Payment portal to see your check’s status and if you need to enter any other info to get a direct deposit. CNET has a good guide on how to understand your check status on the portal.
- Made less in 2019? Consider filing soon. If you expect to make less in 2019 than in 2018, it may be helpful to file your 2019 taxes as the IRS can then use your 2019 income to calculate your stimulus check. For more info, the IRS has this site.
- Don't file taxes? It’s possible you can still get a stimulus check, but you must fill out this form.
- For more details, we like the NY Times and Forbes' guide on the stimulus package.
For your income
- Expanded unemployment benefits. If you’re unemployed, you may be eligible for unemployment benefits, even if you were self-employed, a freelancer, gig-worker, or worked part time.
- Paid sick and family leave. You might be eligible under the Family First Coronavirus Response Act:
- If you’ve been affected by coronavirus and have been employed for 30+ days at a company with 500 employees or fewer, your employer must provide 2 weeks of sick leave at 100% of your normal pay (capped at $511 per day).
- If you’re a parent caring for a child whose school has closed, your company must cover 12 weeks of paid family or medical leave at 67% of your normal pay (capped at $200 per day).
- Note that companies with 50 or fewer employees may be exempt from these policies.
- If you’re a gig worker or self-employed, you’ll get equivalent tax breaks instead of paid leave.
- For more details, see this Q&A and this overview.
- No-penalty access to retirement savings. If you or a loved one has tested positive for coronavirus or you’ve faced financial consequences due to job loss, reduced hours, or quarantine, you can now withdraw up to $100,000 from your retirement account without paying the 10% penalty. There are other new retirement account benefits too.
- Federal tax extension. The deadline to file and pay your taxes is now 7/15/20. But if you're expecting a refund, you should file ASAP. Read here to learn more and confirm how this impacts your state taxes too.
- Help for specific kinds of workers. Here’s a collection of relief resources for small businesses, a $400 emergency fund for domestic workers, and help for food service employees.
- Search for unclaimed property. A small chance, but you might have money that's owed to you waiting to be claimed here.
For your home & utilities
- Eviction and foreclosure protection. Many cities and states are suspending evictions. For the 8 million homeowners insured by the FHFA, Fannie Mae and Freddie Mac are allowing a 12 month forbearance. Check your local eviction policy here.
- Continued internet service. Many internet companies will keep providing service for customers unable to afford their bills, including providors like AT&T, Sprint, Verizon, and Comcast. Check the FCC’s website for a full list and your provider’s website for more details.
- Continued gas & electric service. Your utilities may stay on even if you can’t pay your bills. Check here or with your local utility’s website for the latest information.
For your debt & expenses
- Deferred credit card payments. Some credit card companies and lenders are allowing people to defer payments without impacting your credit score. The American Bankers Association has a list of different banks’ policies here.
- Suspended student loans payments. You can suspend payments on Federal student loans until 9/30/20, and possibly private loans too. First, double-check that suspension is the best option for you. For Federal loans, you don't need to contact your servicer to suspend payments. For private loans, reach out to your provider for options.
- Relief for car payments. Car companies are offering deferred payments, no-interest options, and in some cases, making payments for you if you’ve just purchased or leased a car before losing your job.
- Car insurance refund. Fewer cars on the road means fewer accidents, so you might be getting 15-25% of your April and May premiums back from your insurer. Here's what you can expect.
- Use your FSA or HSA for non-prescription drugs & menstrual products. Because of the CARES Act, menstrual products and non-prescription drugs purchased Jan 1, 2020 onward are eligible for FSA/HSA reimbursement.
A few more things to make you feel better.