The Money Advice Service is an excellent resource of information and activity to help and assist with personal finance concerns.
The coronavirus outbreak means this is going to be an incredibly stressful period, because although this is a health-based emergency, it’s also a financial-based emergency too.
The more you can do now to plan ahead will save you time and energy – and importantly, money– when you might not be feeling at your best.
The Money Advice Service resources looks at how you can best manage your money, what help is available from your account providers and what to think about if you might need to borrow money.
- Things you can do right now
- Step 1 Do an emergency budget
- Step 2 Check your insurance policies
- Step 3 Use your savings
- Step 4 Talk to your creditors if you think you’re going to miss payments
- Help with loans and credit cards
- What to do if you’re getting behind on car finance payments
- Interest-free overdrafts
- If you are worried about debt
- If you think you might have to borrow money
- Other types of borrowing
- High cost credit – things to think about
- Avoid loan sharks