Helping you worry less about money

This is such a worrying time for everyone, around health, family and money, when most people are taking home less in wages.

Focusing on what you can do rather than what you can’t is definitely the way to go in this current situation.

Where can I get help?

If you are struggling financially with the money you have coming in, make sure you go online and find out what help you are able to access while your income is less than it usually would be. The best place to start is on the Gov.UK website which has the most up-to-date information for everyone to access.

What if I can’t pay bills on time?

Everyone is in the same situation and so organisations, landlords, banks and anyone you make bill payments to will be understanding of your financial situation during this time. Rather than burying your head in the sand, reach out to them if you are unable to make your payments on time. It may be difficult to contact them over the phone. Do the best you can to communicate with them, but if you are unable to get through, try email or calling again on another day. The Money Advice Service have updated their website with information on Coronavirus and what it means for you and what you’re entitled to.

How do I budget with less money?

At the moment we are all surviving, keeping a roof over our heads and food in the fridge. Just focus on the essentials. Trying to pay your important bills on time and in terms of groceries, avoid buying more than you need. With so much time at home, try to find recipes that mean you can cook and freeze foods for another day or that can be kept in the fridge.

Should I use a credit card?

It is tempting to put items you need onto a credit card, but you will only be paying for it later on and we don’t know at this point how long the ‘lockdown’ situation is going to go on and how much time we will be staying at home and not working.

Avoid using a credit card if you can. Use any savings you have first – no matter how small. If you are struggling to the point that you need to borrow, it is better to get a loan and spread the cost than it is to incur high interest rates on a credit card.

How can Clockwise help?

You can access all our products and services here online. If you haven’t already registered for online account access you can do that now by clicking ‘Register’ in the top right corner. Our mobile app is also really helpful in managing your money. If you do need to top up your loan or apply for a new loan you can do so at any time via the loans page here on the website.

If you are struggling to make payments on your existing loan, please get in touch. We are here to help.

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