Como Gerir as Suas Finanças Durante uma Turbulência

Se as suas finanças estão passando um período difícil nos últimos meses, você não está sozinho. Que medidas deve tomar agora para se manter por cima e não se enterrar em dívidas para o futuro?

Cut Costs First

Many creditors, banks and utility companies are offering some kind of rate reduction or temporary hold on payments to those most effective by statewide shutdowns. Your first move should be to contact each one and see what they can offer you. Student loans are a great example of this - federally held loans can be postponed but you have to ask for it.

You may be able to shave off a considerable amount from your monthly bills, which will keep a little more money in your pocket and emergency fund.

Use Your Emergency Fund (If You Have One)

Now would be a time when an emergency fund will come in hand. Unfortunately most Americans don’t have one. If you do have one tapping into it may help ease the burden. But don’t blow through it fast - we don’t really know how long our lives will be on pause and it is always good to have some cash on hand and not rely entirely on credit.

Be Strategic With Your Credit Use

A lot of people will probably end up using their credit cards more often to keep the lights on but this doesn’t mean it has to hurt too much down the road. Look at the cards you hold and use the one that has the better interest rate and better benefits. Many credit card companies may also be offering some kind of rate reduction so look into that before you start racking up the charges. But like utility companies you have to contact the credit card company to utilize those programs. Don’t be afraid to be proactive and do what you need to do!

Keep Up With Payments As Best You Can

Even though your income may be paused your bills likely won’t be. For the time being pay the minimum if you can so that your credit is protected but you are still keeping money on hand. If you were already paying minimums you may find some benefits in applying for credit card hardship programs through the lender. These programs offer some help with payments but can ding your credit. It is all about finding a way to keep going that will do the least long-term damage.

Consertar o seu crédito pode ser tão simples como fazer uma chamada! Estamos aqui para o ajudar a reconstruir e a compreender o seu crédito. Ligue-nos para começar ou saiba mais sobre o que podemos fazer por si 1-800-431-0449.