Furlough: Money advice issued as COVID-19 fears rise – could the ‘50/30/20’ plan help you?

“Depending on personal circumstances, such as your income and family status, you may be entitled to financial support from the Government.

“This could consist of direct financial benefit or tax credits. So, don’t be afraid to ask for help, make sure you assess your options and make the system work for you.

“Even if you feel financially secure with your current income, this year has shown us that nothing is certain and the more we prioritise our finances, the safer we will be. Why not make the best out of a bad situation? With interest rates on the floor now is a great time to borrow, so if you’re able to, why not take that mortgage or small business loan?

“Simple steps such as these will ensure your income stretches over the long term, with savings banked to protect your financial standing, even in times of economic uncertainty.”

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