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Coronavirus money-saving plan that could put families at risk of ruin

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www.dailyrecord.co.uk

Many UK workers have been placed on furlough or agreed to a temporary reduction in salary as a result of the Covid-19 outbreak.And with that comes added financial worries about making sure the standard monthly outgoings will still be paid on time.Temporary payment freezes and holidays are now in place for mortgages, credit cards, personal loans, store cards and catalogue debt with help for those with car finance expected to be announced early this week.Banks have also stepped in with £500 zero-percent overdraft buffers and reduced interest charges in an effort to keep customers afloat during these financially challenging times.Now more than ever, people will be scrutinizing their monthly outgoings and trying to find ways to save extra cash.

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