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USE YOUR PASSION TO CREATE A PATH TO FINANCIAL FREEDOM
Covid-19 has certainly changed the way we do things. Needless to say, it has made us reflect on what is really important to us and appreciate the things that we value most- family, good health, relationships, balanced life, spiritual growth and the list goes on.
For some, it is about re-evaluating their circumstances and upskilling or looking for other means of earning an income. Have you thought about what you are good at? What are you passionate about or have an interest in?
A good starting point is to write down a list of everything that you are interested in or passionate about. Go through the full list and pick out the things that you are good at and make a shorter list. This will help you identify what that idea might be. You will find that there are some things on the initial list that you might be passionate about or interested in but if you do not have the right skills or are not good at it, then it is not the right business to begin with. Whatever you choose must be able to make you money and generate the most return for the use of your time.
What to do if you are struggling to meet your repayments
If you have problems with meeting your loan repayments, talk to the lender about it as soon as possible. Most lenders are understanding and will provide other options for you to pay. You can:
request a payment plan
request to defer payments until your circumstances improve
offer something of equal value as a measure of good faith that you will resume repayments within an agreed timeframe
It is important that you honour whatever agreement you make with the lender and maintain your end of the bargain. Keep the lender informed of any changes that might affect your ability to pay. This is a good way of ensuring that you maintain a good credit history and build trust with your lender so whenever you have an emergency and need funds, your lender will be able to assist you without any hesitation.
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