How to budget your way through financial realities of Covid-19

If you have a rainy-day fund start eating into it now

The banks are offered a three-month mortgage payment holiday to those whose ability to pay is hit. Some 28,000 such breaks have already been granted

The banks are offered a three-month mortgage payment holiday to those whose ability to pay is hit. Some 28,000 such breaks have already been granted

We didn’t think we’d be back here again so soon. Ten years on from the last financial crisis, recession looms once more. But there’s a difference this time round: we’ve navigated these waters before. Our muscle memory is strong, and there are things you can do right now to ease your finances and your mind.

Mortgage

Keeping a roof over your head will be your biggest priority. With estimates that up to 350,000 people, or one in six of the working population, will lose their jobs as result of the Covid-19 pandemic, banks should be as worried about mortgage default as you are.

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