Money Tree, Conceptual Artwork by Leonello Calvetti
Dear Parents,
One of the schools in our network published the following blog which is very helpful in ways to leverage/save money during this crisis and prepare for tuition payments starting in July. 
Additionally, Charleston Bilingual Academy is implementing a referral fee to help CBA families with next year’s tuition costs. Starting today, if you refer a new family who enrolls in either CBA or Kids on Mission, you will receive a $20 credit to CBA/KOM programs. We can even set up an affiliate website where new families can register for CBA/KOM through your page.

*If you are a CBA parent who has recently lost your job or have experienced a significant loss of income, please apply online through FACTS to request tuition assistance. 


A Penny Saved, a Penny Earned: 6 Financial Resources to Get You Through COVID-19

By: Joe Wilson 

More than 30 million Americans have filed for unemployment during this COVID-19 pandemic, according to Debt.org. Although many cities are in their re-opening phases, families across the country will still continue to face financial hardship for months and perhaps years to come. 

-CCA’s middle school principal and director of finance, Joe Wilson, has six tips designed to give you financial relief not just during this challenging season, but if you ever find yourself in a financial bind in the future. Contact Your Bank/Credit Card Company – Some banks and credit card companies are offering payment relief during this crisis and are willing to work with their clients. Give yours a call or visit their website to see if they have any support programs in place. 

-Student Loan and Mortgage Forbearance – According to StudentAid.gov/coronavirus, “The CARES Act provides repayment relief for loans owned by the U.S. Department of Education. To provide relief to student loan borrowers during the COVID-19 national emergency, federal student loan borrowers are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payment. This suspension of payments will last until Sept. 30, 2020, but you can still make payments if you choose.” 

-Many mortgage servicers are also offering forbearance options for those affected by COVID-19. You will want to make sure to check if the loan term can be extended, or if the missed payments can be added to the end of your loan rather than being due in a lump sum at the end of the forbearance period.

-Consider Creative Ways to Earn Extra Money – If you have the time and bandwidth, perhaps you can consider starting a side job. There are some that don’t even require you to leave your home. Companies like Beachbody, Arbonne, MONAT, and Young Living are designed to give you the tools you need to build your own small business. You can also consider babysitting (Care.com), pet sitting (Rover.com), food delivery (Instacart/Uber Eats), and selling items you no longer need/use on eBay, OfferUp or Facebook Marketplace. 

-If you went on a closet cleaning spree during quarantine, you can see if Plato’s Closet or another kind of consignment store will give you cash for your clothes and accessories; there are even online consignment websites like Poshmark.com, ThredUp.com, and Menswear-market.com. I also encourage you to pray to see how God can use your talents and abilities in a greater capacity to help support your family. 

-See Where You Can Cut Costs and Save Money – Did you know that some bills can be negotiated? Call your cable, home security, and/or internet provider and ask for a lower rate. You can also negotiate a lower interest rate on your credit card.  Now is also a good time to shop around for more affordable insurance policies for your home, vehicles, and any other assets you may have. Working with an independent insurance agent or agency that partners with multiple carriers will help you save time and mental energy when it comes to finding the most competitive quotes. 

-Pulling money out of 401(k) – According to Debt.org, “The federal government will waive the 10% early-withdrawal penalty for taking money from your 401(k) retirement fund. Qualified individuals can withdraw as much as $100,000 to help them get through this crisis.” There are other tax considerations for withdrawing money from your 401(k) early, so make sure you consult with a tax professional. This option should be your last resort, as not to jeopardize the retirement funds you worked hard to secure for your future. 

-Lastly, it’s always a good idea to speak with a financial advisor who can propose ideas that will help point you in the right direction. I also recommend taking Financial Peace University classes that Calvary Chapel Fort Lauderdale offers and looking into other resources offered by Dave Ramsey Solutions, including his show, podcasts, blog, and his list of endorsed local providers.  

 I know these are tough times for many, but God is in control and knows our needs. He will carry you through and provide. Let’s continue to trust in Him and His promises!

 “And this same God who takes care of me will supply all your needs from his glorious riches, which have been given to us in Christ Jesus.” -Philippians 4:19 (NLT)– Joe Wilson