None of us could have been prepared for the coronavirus and Covid-19 pandemic. This has truly been a completely unprecedented period in human history and has taken us all by surprise over the past few months. Back in January, we were planning our year as we usually do. We were carrying out our day to day routines. We were commuting, working, heading to the gym, meeting friends and family, planning days out, booking holidays and breaks, buying gig and festival tickets and generally getting ready to start this decade off on the best foot. But by March, we were all becoming aware that 2020 wasn’t going to pan out how we’d planned.
The past six months have seen governments around the world issue stay at home orders to all but essential workers to slow the rapid spread of coronavirus. These lockdown situations have had a huge impact on countless aspects of many of our lives. But one of the most urgent has been the impact that it has had on our finances. Many countries around the world are experiencing economic difficulties and are entering recession. Countless businesses have gone under. Countless people have lost their jobs, found themselves out of work, on a reduced income, or otherwise struggling. It’s not all too surprising that many of us are experiencing financial difficulty right now.
Here are a few pieces of advice that should be able to help you if you are experiencing debt as a result of this pandemic. (more…)