When things go wrong
Life's full of surprises - and they're not always happy ones.
No one wants to look on the down side, but making plans for when things go wrong isn't being negative - it's sensible. It means you can still keep control of your life even when you hit a sticky patch.
- Save as much as you can in the good times. Then you'll have a financial security blanket for the bad
- Consider extra ways of ensuring your finances won't be swamped by a wave of bad luck. You may have life insurance, but think about health and job insurance too. A financial advisor could help you to decide which are most important to you and your family
- If you are having money worries, share them. Tell your bank, mortgage lender, the electricity, phone and gas companies - anyone you owe money to or pay bills to regularly. They won't be able to help unless they know you have difficulties
- Talk about your problem and see if lower repayments can be made for a time or if you can arrange a payment holiday. Why not discuss spreading your bills into more manageable instalments with Direct Debit?
- Remember, you can cancel a Direct Debit at any time if your circumstances change, but don't just let bills build up. They will still have to be paid at some stage
- Review your bank account to see if you’re getting the best deal on interest rates and monthly fees. If you find that shopping around can save you money, it’s easy to switch: visit the account switching website to learn more.