Brendan Burgess
Founder
- Messages
- 52,229
I had a general chat with someone about this today.
1) Prioritise your health and the health of those around you. Don't worry about money- your health is more important. Isolate yourself.
2) If your income falls and you face difficulty paying your mortgage or your rent, notify your bank or your landlord.
3) Don't reschedule your mortgage unless you need to do so. It will appear on your credit record for some years and may stop you from accessing other credit.
4) Prioritise your payments e.g. Food, electricity, rent .
5) Identify the low priority payments - for example, if you have an unsecured loan such as a credit card or a credit union loan, it's a low priority.
6) Some people have odd notions about their "children's education fund". If you need to dip into something like that to tide you over, that is better than damaging your credit record.
7) While you should always try to pay your credit card balance in full every month, in emergencies, it's ok to pay the minimum amount.
8) Ask your credit card provider to increase your limit.
1) Prioritise your health and the health of those around you. Don't worry about money- your health is more important. Isolate yourself.
2) If your income falls and you face difficulty paying your mortgage or your rent, notify your bank or your landlord.
3) Don't reschedule your mortgage unless you need to do so. It will appear on your credit record for some years and may stop you from accessing other credit.
4) Prioritise your payments e.g. Food, electricity, rent .
5) Identify the low priority payments - for example, if you have an unsecured loan such as a credit card or a credit union loan, it's a low priority.
6) Some people have odd notions about their "children's education fund". If you need to dip into something like that to tide you over, that is better than damaging your credit record.
7) While you should always try to pay your credit card balance in full every month, in emergencies, it's ok to pay the minimum amount.
8) Ask your credit card provider to increase your limit.
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