How to Prepare for <br />the End of the $600 Weekly <br />Unemployment Benefit Assuming there is no extension <br />of federal legislation, the $600 <br />unemployment benefit as laid out in <br />the CARES Act is set to expire on July 31. Experts refer to the end of the <br />CARES Act benefit as a "rude awakening" <br />for those who are out of work <br />due to the coronavirus pandemic. These four suggestions <br />can help you prepare. 1. Resist the urge to splurge. If the initial check is several weeks of <br />benefits combined, pay off outstanding debt <br />or set some aside for future bills. 2. Make sure to budget. Knowing and planning for <br />monthly expenses can make a <br />huge difference when the <br />$600 a month comes to an end. 3. Use a portion to <br />build an emergency fund. Having $1,000 in the bank for <br />emergency situations can <br />be extremely helpful. 4. Don't forget about taxes. Unemployment assistance is taxable income. <br />Choosing to have taxes taken out <br />up front is a wise choice.
