A lot of people will be worrying about money in the coming weeks as the effects of the coronavirus (Covid-19) are felt everywhere.

It might be time to take a good look at your finances, particularly any outstanding debts you have.

For many this will mean a credit card and the regular payments you have to make paying off your spending.

It might be tempting to miss a payment when money is being squeezed, but this would be a mistake. Even missing one payment can have an adverse effect on your credit score, harming your future efforts to get credit.

If you are in difficulty speak to your credit card lender as soon as you can or get in touch with organisations like Citizens Advice.

At the same time, a credit card might seem a tempting option to help you manage money during the pandemic. But do beware and only borrow or run up debt that you can afford to pay back, otherwise you will end up with more problems.

If you are going to take out a new credit card it might be worth moving quickly as credit terms may change the further into the pandemic we get. Similarly, if you are thinking of swapping your credit card debt to one with a cheaper interest rate, it might be worth doing that soon too.

It is always worth taking a look at your finances whatever is happening in the world.

If you would like a conversation about this or any mortgage or insurance-related issue, please give me a call on 01723 384558 or 07767 692 653 or email me at mgrayshan@googlemail.com