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 – 2^ND 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 2^ND AND/OR 3^RD 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

CHECK BUDGET WEEKLY & MONTHLY

CHECK BUDGET BEFORE SPENDING