Prepare & Ask For Help!
We understand that during this period some of you may be feeling uncertain or anxious. Many of you out there are preparing your essentials, but you need to also make sure that you take a look at your finances and get whatever options available put in place so they can help you ride through this period of uncertainty. We would like to remind you to look over your:
✔business budget and,
✔personal budget.
It is important to check your financial situation as it can help you feel at ease and help you make rational decisions.
Many lenders are now supporting customers affected by this current situation. A few things that they’re offering is free redraw, deferred repayments for up to three to six months and extended loan terms for up to three to six months. Lenders will also look to assist by restructuring or consolidating your existing loans. They can also give you access to term deposits without any penalty interest. Lenders will help by offering deferred repayments on credit cards and also provide financial counselling for you. So, our best advice to you right now is go through your budget, then have a talk to your lender.
Contact your lender to find out what assistance they can provide. Don’t wait until you feel financial hardship before asking for assistance. Prepare and ask for help.
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