Covid-19 has affected many lives be it emotionally or financially. It can be very hard to manage your finances in this stressful time without knowing what is to come out on the other side. Many people have lost their jobs or have gotten their incomes reduced during this uncertain time. Because of this, it is very common to experince a financial hangover with all the strain on your finances in this pandemic.
This video provides helpful tips to get you through this period and come out the other end without having a financial hangover, including;
- Think about the future risks that might come up
- Reviewing your spending, reducing costs and preparing a budget
- Checking to see if you can renegotiate any of your expenses
- Considering the worse case scenario and how you still might meet your financial obligations
- Deciding if a holiday on your loan repayments is something to consider. This is not the answer for everyone so take a look at this video where the pros and cons are discussed further, and
- Many more useful tips!
Regardless of your situation, we are here to help you. Let’s work together to create a plan to help you and your family through this challenging time!
Our Covid-19 blog is full of more useful information and additional resources, so please make sure you click here to check it out!
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