In this lockdown era when all the economic activities are shutdown then obviously it will impact on public pocket. If you are away from home and the rent is necessary to pay. Let us see a story- A person who was unable to pay rent but was forced by the owner to pay it. He had no idea about managing them so he seeks for help on social media and his friends made a group and many people came to help him in paying the rent. The message got viral and it riches to the owner of the house, he felt guilty and say sorry to him and then free him from rent for coming 2 months.
It sounds pleasant and good story. Well, this can’t be happen all time and it might not happen with everyone. But, if you have a planning then you will be able to avoid such types of conditions because a well-planned life is not only simple but also allows you to avoid tension and extra pressure in your mind. To avoid this one should have a proper planning. Here are some of the ways which will help you to make proper planning
Table of Contents
Try to explore 1st free options
Many state governments announces scheme regarding rent payment due to covid19 virus. So, first try to find out that measure if it is possible for then do it and apply for the scheme. This would be very beneficial if you don’t have enough money and the source of income has been shut down.
Try to convince the owner
Whenever you are living for a long time with someone then there may be some interaction among the locality and as you are living there then the owner must have some idea about you on the trust of paying rent. So, try to convince them of saying about paying the rent later. It might works but it also depends on your past record.
Try to arrange from friends
If the landowner is not ready and not got convinced from you then try to arrange from your friends and family. Go for a talk with your condition without any hesitation and ask them for money. They will definitely help you to arrange money if possible from them. This is also an effective way but not hesitate about saying them about your condition.
Apply for grants in your working place
If there is any option available in your working place then this will be the perfect time to avail this opportunity. Try to know about the rules from your senior or boss who can assist you in this whole process. Many industries provide such types of activities but people not known of it so try to explore those options.
Make use of credit card
If you have a credit card then it will be quiet helpful to you. You can use your credit card to pay the rent and try to cut down the extra expenditure from your budget so that you can manage to pay the credit later.
You may cash your credit card
If no option is available and your owner is not seeking to help you in this adverse condition then you may choose this which might be helpful for the payment of the rent. But, first try the above options before going to this.
Take small amount loan
If you have no any other option then you can take loan which provides you in low interest rate. This would be very beneficial for you in such situation when you have no options available and have to pay. There are many private lenders and even online money lenders are available to get loan at very low interest.
These are some of the ideas which can help you in this financial crisis. Well, it might not work for everyone but can be helpful for many of you regarding paying the rent. In my opinion, many people will get benefit from these options. If you have any more suggestions and query then you are welcome in the comment section.
Hey, I’m Sachin. I’m a Blogger living in India. Guide for Personal Finance Planning & financial planning, Tax, Investment, Managing Money, Insurance, Retirement, Real Estate and Loans & more.