How to pay the mortgage in times of crisis

Many countries are being involved in a severe economic crisis, which leaves many people unable to pay off debts due to cutbacks and decreases in work.

That's why in .com we bring you tips on how to take the crisis, reduce expenses and find a way to pay the mortgage in time of crisis by applying some measures.

How to overcome the crisis: tips to keep in mind

  • Cash is the most valuable thing, so try to spend as little as you can.
  • If you must pay a mortgage, go to your bank and find out what alternatives they offer you. Financing plans with benefits and discounts are often offered, but the fine print must be read carefully.
  • Avoid getting more debt: do not take new credits, use the credit card as little as possible and do not borrow money. In times of uncertainty, interest rates are very high and do not favor at all.

Tips to pay the mortgage in times of economic crisis

  1. Avoid making unnecessary expenses, save as much as you can.
  2. When you collect your salary, keep a portion and avoid spending it, only use it if it is of extreme need.
  3. Cancels services, is a way to eliminate unnecessary expenses. If you have two phones and you can cancel one, do it! It is one less fee that you will have to pay every month. If you have cable and you do not see almost television you can also unsubscribe it. Beware, many companies will offer you discounts so that you remain a client, do not let yourself be carried away by those discounts, they are usually very deceptive.
  4. If you have the possibility of taking money saved in the bank and you cancel with that the accounts that you have of credit card or advance mortgage installments, it can be a good option.
  5. Just pay your salary or salary cancels all your debts, then do the monthly shopping at the supermarket, and finally the clothes and your tastes.

All these small changes will take you to be able to pay the mortgage in time of crisis, since not only can you avoid unnecessary expenses to cope with the crisis and survive, you will also be more orderly with paying the mortgage payments and your expenses, and then adjusting during the month to the money you have.