COVID-19 helpful information

COVID-19 helpful information

 

How we can help SUPPORT you during this time

and where to find the RIGHT ADVICE for your situation.

Like many New Zealand businesses, The Lending Room is adapting quickly as the impact of COVID-19 continues to affect the country. While ensuring the on-going good health and wellness of our loved ones is on top priority right now, money is still high on our list of concerns.

Around 70% of New Zealanders have had their income affected since the Covid-19 pandemic hit the country which means time to conserve money for a lot of families. Most of us will be saving money by default during the 4-week lockdown period, as eating out and shopping trips are firmly off the list of expenditure!

The Lending Room can help you with a personal loan or debt consolidation loan to help you manage your debts and expenses during this difficult time but there are many things you can do to help your budget.

 

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Tips to help your budget

 

 

FORBES SUGGEST

If your income has been significantly affected, Forbes has some excellent suggestions for retooling your budget to help you weather the effects of the Covid-19 pandemic. This includes looking at the ‘nice to have’ things we spend money on each month to see where you can save

 

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BUDGET TOOL

One of our favourite websites sorted.org.nz has a great budgeting tool that you can share with your family and get everyone on the same page with your finances. If you’re feeling a bit overwhelmed with the thought of having to change up your budget, check out this article from Sorted: COVID-19 and your money: 7 things to do right now to help you feel more prepared for the future and consider all your options before taking on more debt.

 

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GET ADVICE

If you decide a loan is not the right choice for you but you have concerns about making ends meet or just want some financial advice, jump onto moneytalks.co.nz and find someone who can help you gain control of your money.

 

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GOVERNMENT

If you want to find more information about what the government is doing to help New Zealanders during this time or have any questions regarding the Covid-19 pandemic please visit https://covid19.govt.nz/ for regular updates.

 

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PROTECT YOUR SCORE

Make sure you maintain your Credit Score during the Covid-19 pandemic by keeping up to date with all your payments, if you think you’re at risk of defaulting or paying late make sure you communicate with your providers and lenders, this is the best way to ensure you keep your credit score intact.

 

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OUR SOLUTION

The Lending Room offers a complete online loan solution from application to payout so we will not require you to visit our office as we do not require face to face meetings with our customers in most cases. The Lending Room is here to help you with your financial needs, get in touch today to see how we can help you too.

 

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He waka eke noa – we are all in this together

How we helped Anna save with a debt consolidation

 

Anna came to us looking for help to consolidate her debts and needed some additional funds for personal expenses. She was working full time but had found herself trapped in the vicious cycle of payday loans. With high repayments a large majority of her weekly income was consumed by these payments and she felt there was no end to it all.

Instantly we could see how a debt consolidation loan would benefit her financial situation. Our team quickly went to work in order to find a solution. That same day we had an approval offer in place.
This new loan required repayments of $80 weekly which gave her an instant saving of $124.62 weekly by consolidating her three existing debts, plus she was left with some cash in hand for her personal expenses.

Needless to say the client was very pleased with the result and so were we – Success!

*Name changed for privacy.

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