Financial Tips for Covid-19 Lockdown 2.0 – Click Liverpool

Covid-19 is surely causing great devastation in its wake; it has devastated people and economies throughout the world, turning people’s livelihoods upside down. The financial worries are bringing with it very serious consequences such as stress, deepening disease, depression, and havoc. England’s Boris Johnson has suggested that if action isn’t taken with the second lockdown which started early November 2020, the results for the country might be worse than what was seen in the first lockdown. Thing is, employers can’t expect that the government, clients, customers, employees are going to respond to this second wave in the same way they did in the first wave. Considerations will need to be given for reviewing and amending employee’s contracts of employment, maybe inserting lay-off clauses, etc. and ensuring the support networks are in place for employees to work from home again. For employers, managing employee expectations is going to be critical once again.

Covid-19 might bring different outcomes this second time around

o   It is probably unlikely that the government would introduce a new furlough scheme before the end of the existing one.

o   There is likely to be less tolerance in the second wave of coronavirus-related disruptions by clients, employees, and customers. The first wave was naturally and genuinely unprecedented and this made everyone accommodating and understanding. Companies can’t really expect this same flexibility and tolerance in the second wave. It is going to be vital for employers to put contingency plans in place for this second wave.

Here are just five tips to help everybody with managing their money during this pandemic, as it rages on ….

  1. Check your benefits 

Remember to check that you are getting all the state benefits that you are entitled to. Visit the government website to find information on benefits you can claim for you and your family when your income is low. You might find a benefits-check application that will include advancement of a Universal Credit payment which might help you with the immediate bills.

  1. Now’s the time to review your spending 

You need to understand exactly where and when you are spending your money – this is the first step in controlling your finances. Carefully review all your bills and spending, going over your bank statements. Make a list of all the essential and non-essential payments. Check for competitive rates with your broadband and utility suppliers; MoneySupermarket can help you here.

  1. Speak to your creditors 

It is worth speaking to your creditors because the financial providers will want to help and advise you on any relevant schemes that might be able to help you out. There are millions of people experiencing major changes in their circumstances, such as Covid-19, so contacting your creditors and updating them on your situation is the right way to go; remember that some creditors have payment holidays plus some other schemes particularly in difficult times.

  1. Keep up to date with Government advice and assistance

The government will make changes to the welfare benefits system and also how creditors in the UK take action for customers to catch up on their debt and arrears. Many changes are meant to supports families and individuals who are battling because of Covid-19.  Keep yourself well informed with all the changes by checking all their advice and updates here. We are sure the Money Saving Expert can help you too.

  1. Speak to these guys for advice on money and debt – they can help

That’s the British Legion – offering you support and guidance on various topics that you will be so grateful to learn about. You might have fallen behind with your creditors, and there are benefits and money advice experts to give you excellent advice, guiding you through with debt options, etc.

  1. Don’t miss the opportunity to look out for ways of making money

This is particularly if you have lost your job. Look here for some popular ways that you can make money online in the UK. It won’t matter what kind of skills you have, we are sure you will find something that you can do!

  1. There are other help trusts to help that can help. 
  1. An emergency loan can be a lifeline in times like these

There is always a lifeline for you when you are at the end of your tether, financially. When you just need a bit of cash urgently to see you through for the next few days – well you are not alone, because there are thousands who have needed this in dark days for emergencies and have called on us. Payday loans are short-term loans to tide you over here is a comparison of the UK’s best payday loans. Sometimes this is all a person needs just to help them get on their way again; we can do that for you.


These are tough days – no question about that. Life is challenging and difficult in a myriad of different ways during Covid-19, and hearing these calming and wise words from the Queen can bring us comfort and hope, “We should take comfort that while we may have more still to endure, better days will return: we will be with our friends and families again; we will meet again.”

In the meantime, wash hands, observe social distancing, wear masks, and apply some of our top financial tips; for this (Covid-19), too, shall pass.

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