Are your finances on the brink?
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We should all have financial buffers in place to help us get by in the lean times. Yet previous research carried out by the insurer Prudential found that more than a third of us are living from pay cheque to pay cheque, and only 10% of us had insurance to cover us if things went wrong.
You should have enough money put aside to see you through several months without a job, the experts recommend. So start putting away as much as you can, when you can.
It can also be wise to get insurance to cover you if you can’t work due to accident, sickness or redundancy, so you can continue paying your mortgage and meeting your debts. The experts suggest that income protection insurance is the most comprehensive policy on the market to help you in this area.
dealing with debt
Other policies such as Mortgage Payment Protection/ Payment Protection Insurance and Accident Sickness Unemployment cover can also help – but make sure you understand exactly what they do and don’t cover before you buy.
You should also look at your necessary outgoings – are you getting the best deal on your mortgage, your gas and electricity bills and on your home phone line? Use our price comparison tool to find a cheaper deal on your household bills.
