Mark Bouris walks you through the various options that you need to be considering when it comes to organising your finances in this difficult COVID19 period.

Mark said: “What you need to be doing right now in business and for your self or your family is sit down and sort out your finances.

Sort out your revenue – understand and prepare how much you’re going to be earning in this next period. Write it down.

Manage and understand your expenses – what can you afford to limit/cut out? List out discretionary (eg Netflix) and non-discretionary (eg rent) expenses.

Enquire about the three (potentially six) month hard ship rules if you’re worried about your mortgage repayments. Contact your bank or your broker straight away. Plenty of enquiries and applications for this right now.

Negotiate with your landlord about options on your rent repayments. We can get through this…together.”

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