If you think your financial situation could be better, remember that it could be worse. There are people who have absolutely no savings for the near future. There are also people who don’t know how to pay their bills and how to eat at the end of each month. Each of us should imagine the worst-case scenario of our lives and provide a concrete plan of action to ensure that, as this scenario materializes, we can survive without saving money. If you don’t know what steps to include in such an action plan, here are a few ideas below.
Stop overpaying credits
If you previously tried to get rid of your credit obligations as soon as possible by paying maximum amounts in your credit payments, now go back to making the minimum credit payments.
Take a credit vacation
Most lenders offer options such as credit vacations. Credit leave means the suspension of credit payments for a specified period. They are intended to deal with exceptional circumstances such as job loss or incapacity, which results in the borrower losing income and, consequently, in having to make credit payments without any effort. Clearly, the argument for getting a credit vacation must be serious and true.
Get rid of expensive tariff plans
If you had an expensive tariff plan before that included many extras, then opt out now by choosing the cheapest tariff plan. Often the cheapest tariff plans do not include mobile data for the Internet and the number of units available for calls and text messages is negligible. If your phone provides wireless internet access, there is no problem even with a minimal tariff plan, since when you connect to the wireless internet, you can talk and send unlimited messages using free applications like Skype, WhatsApp or Viber. Another option is to stay with your existing tariff plan but bargain for its price.
Stop car insurance
Obviously, in the event of financial difficulties, you should choose the insurance company that can offer the lowest price, but in the worst-case scenario, it is advisable to stop your car insurance. As you know, car insurance – OCTA – is mandatory and without it is prohibited to participate in road traffic, so leave your car at home and choose another alternative to travel, such as public transport or bicycle.
Turn off your TV and the Internet
Nowadays, it seems possible to do without television, since most television shows are viewable on the Internet, so in the face of financial difficulties, give up television. Of course, you may also be disconnected from the Internet connection, but in that case, you will not be able to use the Internet on your phone to communicate with the free apps mentioned above, or the Internet on your PC to watch TV shows and other Internet benefits.
Choose an interest-free credit card
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Of course, the most crazy decision is to give up any type of credit card and opt for a debit card, but if you really can’t do without a credit card, opt for an interest-free credit card.
Eat from the pantry and basement
Most of the food we have come to buy in grocery stores is relatively rare in our basements and pantries. Of course, what is found in cellars and pantries is not possible or advisable to feed, but in times of financial difficulty we should remember more often the benefits that we have worked hard to provide in the last summer so that they will not grow old and have to be thrown away. .
Stop making savings
Stop making any kind of savings, be it emergency or old age, until your financial situation stabilizes again. You can use the money saved in the Emergency Fund to solve your financial problems, because the worst-case scenario in your life is definitely an emergency.