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There are many situations that can affect your finances, like shorter working hours, relationship break ups, illness, redundancy and business ventures that haven’t worked out.

If your financial circumstances have changed or you think they may soon may, here are some steps which can help ease the financial pressure. The main thing is to take action as soon as possible, and get as much help as early as possible.

The ASB Financial Help team can give ASB customers anonymous advice, just call 0800 27 27 35. For help outside ASB call the Family Budgeting Services’ BUDGETLINE on 0508 283 438.

If you have been made redundant, please see our redundancy assistance section.

Steps to help you reduce financial stress

• Make a budget
  A budget helps you take stock of your position, and see where spending could be trimmed so you can live within your means. Go to our Setting a Budget planner or call the Family Budgeting Services’ BUDGETLINE on 0508 283 438, for free personal budgeting help.
• Talk to the people you owe money to
  If you think you will have difficulty making debt repayments, it’s best to talk to people and companies you owe money to straight away, before you fall behind on your payments. You can often negotiate new terms to help you pay a more affordable amount over a longer period.
  
  If you are trying to pay off a number of debts at high interest rates, one option you could consider is consolidating your loans and credit cards into one simple loan. The interest rate is often lower, and you’ll only have one regular payment to worry about. Go to our debt consolidation section to find out more.
  
  If you are an ASB customer, and you are in financial difficulty, or are likely to be in the near future, you can call the Financial Help Team on 0800 27 27 35. You can choose to remain anonymous, and our team are able to talk to you in a language other than English.  For more information go to Our Commitment to Customers in Financial Difficulty.
• Government assistance
  Make sure you’re getting everything you are entitled to from Work and Income you may be eligible for an accommodation supplement, Temporary Additional Support, or recoverable assistance payments (interest-free loans) for specified items/costs. If you are made redundant, you may qualify for the ReStart programme.
• Boost your income
  Think about ways to increase your income. Look at options like taking on a weekend or evening job or getting a flatmate or boarder. Talk to your local secondary school or tertiary institution to see if they are looking for home stays for overseas students.
• Review insurance cover
  If you have a mortgage or personal loans, you can opt for a life or loan insurance policy with a redundancy cover component.
  
  However, if you already know that you are likely to be made redundant, or work in a vulnerable industry, you may not qualify for this cover. Check with your insurance provider. Go to ASB Insurances.