The quickest way to go from Safe Zone to Danger Zone is to lose your job or get a huge salary cut. Now you need to save your cash to buy food later.

 Therefore, what can we possibly do?


Read Step 1


Step 2:

  1. Do not settle your credit or shopping card debt or any line of credit that you have:
    • Just pay the minimum amount per month.
    • Try to renegotiate your credit cards and shopping cards:
      • Call the company/ies and ask for an interest rate reduction.
      • Ask for restructuring of your facility.
    • Apply for Cash flow Relief to pay your instalments (Different banks have different agreements for up to 3 months and repayable over 5 years.
    • If you have lost your job and you are now unemployed find out if you have insurance on your cards that will pay your premiums for 6 or 12 months.
    • It might also be an idea to close the credit card facility and ask for a repayment plant of 3 or 5 years.
  2. Discuss your Life Insurance and Insurance Savings options with your Advisor:
    • If you have an endowment plan, see if you can have a contribution holiday or make it paid up for now. You need to save whatever cash you can.
    • If you are really hard press for money, reduce your Retirement Annuity contributions or make them paid up on the older annuities.
    • Find out if you can accelerate your cashback payments? Some short-term insurers have that option depending on your contract.
    • Last resort would be to reduce your life cover payments.
    • Make sure your will is up to date and that your estate will still have enough cash to pay for all the costs if something happens to you or your spouse.
    • Make sure your funeral covers remains intact.


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