WHEN DO YOU VISIT YOUR DOCTOR,SOLICITOR AND ACCOUNTANT?
TO DISCUSS A HEALTH CONDITION OR A LEGAL PROBLEM.
SOME OF US EXPERIENCE PROBLEMS WITH OUR FINANCES BECAUSE:
·
JOBS ARE LOST – REDUNDANCY COVER
·
DROP IN INCOME/S – 2ND JOB OR CHANGE
JOB
·
ILL & UNABLE TO WORK- MORTGAGE / INCOME
PROTECTION
·
TENANT NOT PAYING RENT ON TIME –
·
HAVE NOT PREPARED/BUDGETED FOR INTEREST RATE
INCREASE
(ESPECIALLY DIFFICULT WHEN A JOB IS ALSO LOST SIMULTANEOUSLY)
·
BORROWED BEYOND OUR REPAYMENT ABILITY ELSEWHERE
·
FAMILY SITUATION IS NOW DIFFERENT – FAMILY HAS
SPLIT OR A BREAD-WINNER IS NOW LIVING SEPARATELY
WHAT ARE THE OPTIONS?
·
DISCUSS SITUATION WITH FAMILY & TRUSTED
FRIENDS – ASK FOR HELP
·
TALK TO BROKER/LENDER-ASK FOR HELP
·
CHECK OPTIONS ON LOAN –
·
INTEREST ONLY, LOAN REPAYMENT HOLIDAY,TERM OF
LOAN(LAST)
·
LOOK FOR ADDITIONAL INCOME SOURCE/S
·
DO A 2ND AND/OR 3RD JOB
·
TAKE ON A BOARDER
·
CONSOLIDATE ALL BORROWINGS WITH HOME LOAN,IF
POSSIBLE
·
CANCEL ALL HOLIDAYS & OTHER UNIMPORTANT
SPENDING
·
REVIEW BUDGET AT HOME – SKY/VISION/EATING OUT/CLOTHING…BUT
PLEASE DO NOT CUT BACK ON INSURANCES
·
STOP BORROWING ELSEWHERE
IF ALL AVAILABLE OPTIONS HAVE BEEN INVESTIGATED AND NO
SOLUTION IS IN SIGHT, SELL BEFORE THE BANK SELLS….MORTGAGEE
IF YOU DO NOT ASK FOR HELP, YOU WILL NOT GET ANY HELP
BUDGET
BUDGET
BUDGET
CHECK BUDGET WEEKLY
& MONTHLY
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