There are a lot of acronyms in the news these days, which can add to the confusion and stress. Let’s talk about the acronym CARES. CARES stands for Coronavirus Aid, Relief, and Economic Security Act. The CARES Act is a law meant to address the economic fallout of the 2020 Coronavirus pandemic. Its intent is to provide fast and direct economic assistance for American workers, families, and small businesses, and to preserve jobs for American industries.
The CARES Act is funding the stimulus checks that many people currently have received or will be receiving. Please be aware of scams. The government will not call and ask for your bank account information, or your social security number, nor will they ask for any payment from you in order to receive your stimulus check. For additional information on the CARES Act please visit the website https://home.treasury.gov/policy-issues/cares.
Mark your calendars for the event “Thriving Across Generations ‒ Succession Planning in Rural Kansas”! K-State Research and Extension is teaming up with the Fort Hays State University Small Business Development Center to bring you a night packed full of valuable information in succession planning for your farm, small business or family.
We recognize the financial stress that farmers and ranchers are experiencing due to low commodity prices and high input costs. More than ever, financial management of the operation is critical to long-term sustainability.
The Post Rock District, in collaboration with a state-wide team, is bringing a great learning opportunity to the region! “Farm Financial Skills for Kansas Women in Agriculture” is a 4-part workshop series that will teach principles of record keeping to develop a balance sheet, income statement and a cash flow statement. Participants will work with a case farm to do performance analysis and understand how these statements can help with management decisions. The program will be a combination of broadcasted keynote speakers, local speakers, and facilitators to assist in completing the hands-on activities. The goal is for participants to acquire financial management skills they can apply directly to their farming or ranching operations.
Smith Center will be a host location for the program scheduled to take place in the evenings on January 15, January 22, January 29, and February 5. Registration is due by December 31, 2019. To learn more about this exciting learning experience and to register, visit www.postrock.k-state.edu. Contact Sandra Wick, District Crop Production Agent, with questions at 785-282-6823.
Never miss a beat when it comes to savings. Make it so easy you never have to think about it by setting aside money for savings automatically. Learn how to set up automatic transfers from your checking account to your savings account, or have part of your paycheck automatically deposited into a savings account. Already saving automatically? Find ways to automate other aspects of your financial life in 2019 at https://americasaves.org/.
When choosing a health insurance plan there is much to consider. What benefits do you need? Which health care providers do you prefer to use, and which can you use? What costs are you comfortable paying? Do you have an emergency or “rainy day” fund to cover expenses in case of sickness, job loss, or economic downturn?
Many factors should be considered when deciding which policy best suits your needs. The right plan for you will depend on your health and your financial situation.
Determine which benefits beyond the essential health benefits covered by all policies are most important to you and your family.
Check the drug formulary for your prescription drugs and the list of network pharmacies when looking at your options.
Check to make sure the providers you want to use are in the plan’s provider network.
Weigh the costs of not only the premium, but also the deductible, coinsurance, and copayments for the plans you are considering.
The University of Maryland Extension has some great tools to help consumers be smart about buying and using health insurance. Contact Nora Rhoades at firstname.lastname@example.org or 785-346-2521 to access the resources available from K-State and other extension networks.