2020 has been a tough year for most of us. It has been a tough year in terms of health. It has been a tough year in terms of emotions. It has been a tough year in terms of finances.
For the moment, let’s focus on the latter of these categories. The coronavirus and Covid-19 pandemic has thrown some of our finances into complete chaos.
Even some of the most financially stable amongst us have found ourselves experiencing financial difficulties at the hands of the pandemic – whether that’s due to job loss, reduced working hours or a reduced salary. But what can you do to keep on top of your money when it seems like the world is against you?
The job market is tough, it’s difficult to secure extra means of income and it’s extremely difficult to secure credit right now. Here are a few suggestions that should be able to help you along the way.
Know Your Rights
First and foremost, it’s important that you know your rights during times like these. With countless people becoming sick from the virus and countless people losing their jobs, it’s important to know your rights in regards to each to make sure that you aren’t taken advantage of and that you aren’t missing out on money as a result of others’ wrongdoings or mispractice.
If you are concerned that you have been made sick due to workplace negligence, or you haven’t received proper redundancy pay, it’s time to seek out legal aid from lawyers like a team of compensation lawyers. It’s already bad enough that you’ve gone through these difficult situations. You should at least be able to manage your bills around them.
Keep On Top of Payments
A lot of us have a lot on our minds right now. This is why it’s important that you don’t let important things like payment dates slip out of view. If you have set payment dates for different bills, it’s essential that you pay everything on time.
Otherwise, you can find yourself incurring costs like late payment fees and fines, plus marks on your credit rating, as a result of getting lackadaisy with your bills.
Where possible, set up direct debits so payments are taken out even if you are occupied or if you do forget. If you are struggling to meet payment dates, you need to contact the lenders, finance providers, your landlord, or anyone else who will be expecting payments to try to come up with an agreement or payment plan.
Seek Financial Support
There are plenty of sources of financial support out there, so make sure to see what you’re entitled to and to make sure that you apply for anything you can.
Governments around the world are aware that their citizens are struggling, so there are various schemes in place that could prove extremely helpful to you.
These are just a few ideas to get the ball rolling. Hopefully, each will help you to manage your money as effectively as possible during this pandemic. These difficult times can’t last forever, so this could really help to tide you over!