Lose your job? Here is what to do next with leading finance company, Auckland-based Yes Finance.
Lose your job? Here is what to do next with leading finance company, Auckland-based Yes Finance.
Post: June 19, 2020
The Covid-19 pandemic has impacted on every facet of our lives. Many Kiwi’s around the country are dealing with or potentially facing job loss.
While the stress of losing a job can be crushing, there are a few things you can do to take control of the situation says leading Auckland based finance company, Yes Finance.
Incomings
If you are going through a period of transition workwise, your money becomes all about your cashflow. As such, one of the first things you should do is gather any incomings you’re due. In a lot of work circumstances, if you’re made redundant, you have certain rights and entitlements coming to you. “When you get your final pay, it’s imperative that you check that it includes any severance or holiday payments you’ve earned,” advises Yes Finance owner and director, Peter Steel.
Limit Outgoings
To protect your cashflow, you need to limit your outgoings. A good way to do this is to focus on the essentials: food, shelter, utilities and transport. Sorted’s budgeting tool can help you tally all your regular expenses and then save different versions to see what adjustments can be made. By protecting your cashflow, you can save as much money as you can to get through for as long as it takes.
Positive Mindset
Remaining positive can be helpful in your future job seeking. Look at ways you can draw positives from this negative experience.
According to TradeMe a lot of job recruiters look for resilient candidates who can show how they bounced back from tough situations like redundancy or losing a job. Your positive mindset will come across during interviews, increasing your chances of making a good and strong first impression with potential employers.
Also set aside some time to not think about your job search and do something you enjoy, like seeing friends or going to gym. Giving yourself a break with things you enjoy will help keep negative thoughts at bay.
Government help.
If you lost your job due to the impact of the coronavirus, the New Zealand Government has launched the official COVID-19 government response site has resources and guides that can help you figure out what you should do next.
If you lose your job between 1 March 2020 and 30 October 2020 due to COVID-19, you may be eligible for the COVID-19 Income Relief Payment. You can get up to 12 weeks of tax-free payments, to help with living costs after a sudden job loss, and give you time to find other work.
You can use the COVID-19 financial support tool to find out what financial help may be available to you.
Upskill
Upskilling is an investment in your future. Now that you are between jobs, this can be a great time to look at different ways you can add to your skill set.
Online classes, volunteering, evening classes are just a few avenues you can take to upskill yourself.
TradeMe advises that important you have a strategy that sets out your objective, and how you intend to reach it, this is your upskilling plan.
Mental Health
Don’t forget about your mental health as well. With your focus being all about how you will make ends meet and finding a new job, your mental health can take a massive hit without you even realizing it. “It’s important to know when to ask for help and there is no shame in asking for help either,” adds Peter.
Whether you seek professional help or simply reach out to a friend, taking a little time to check in on yourself can help ease your mind and make your path ahead clearer. “Sometimes the best stress reducer is simply sharing your thoughts with someone you trust,” advises Peter.
Financial Plan
These unprecedent times are hard enough and adding in the stress of the loss of a job makes it even more challenging. Seeking expert help now can not only help you plan together for the short term; it is also an investment in your future. Talking to a financial expert can help put a plan in place to see you through these uncertain times.
Your lenders
Communicate with your loan provider, help them understand your financial position, the earlier the better.
Talk to your lenders at Yes Finance and work with them by explaining your situation. Here at Yes Finance we may have options to get you through the difficult times.
YES Finance are helping New Zealanders who are in economic complex financial predicaments to re-strategize and simplify their current budget plans, maybe you could qualify for a Debt Consolidation loan.
Everyone’s financial situation is different
At Yes Finance they understand that everyone’s financial situation is different and requires a unique solution that will put you in a comfortable position before and after borrowing.
Peter adds, “When you call Yes Finance, you will be talking to a real and empathetic Yes Finance staff member, not a call centre or chatbot”.
Personal and Business Lending
Yes Finance specializes in personal loans, including cars, boats and holidays, and business loans for those looking to take the next step up in their business through expansion or upgrade.
Check out Yes Finance’s simple and easy to use online applications
Have a listen to Yes Finance director, Peter Steel, talking to Marcus Lush on Newstalk ZB talking about why Yes Finance is the first choice in finance company for New Zealand businesses:
https://www.facebook.com/YESFinance/posts/2084846968213044
About Yes Finance
Yes Finance can assist you with SME finance, personal finance, travel loans, boat loans, chattel finance, plant and equipment finance, business loans, loans for equipment and machinery and asset finance. But no matter what kind of finance you need, the team at Yes Finance can offer you a real solution.
Yes Finance have been in business for 20 years, making them one of the oldest privately owned finance companies in New Zealand. They are an alternative to the rigid approach of the banks, providing customer focused solutions for commercial and personal finance. They are based in Auckland but operate throughout New Zealand.
