Tips: How to organize your cash-flow with the stimulus packages and relief .

Staying Liquid:

• You have access to the funds when you need it. Investing the money in shares, bonds, or property it will be difficult to redeem.
• If you are eligible to access the mortgage relief for six months, you will need to review your expenses if you can afford to continue to pay your mortgage.
• When you apply for the relief, you should check with your lender on the arrangement. Does your mortgage get extended by six months? Does your lender draw up a new contract to adjust for the six months holiday? The agreement will have an impact on your future liability obligations.
• If you are fortunate enough and the stimulus is extra cash think about supporting your local businesses. Buy more from the local shop owner, spend more on services such as cleaning, etc. Your purchases will give support to the community and people you want to help to stay in business that you can continue to work with in the future.

Car Insurance:

• Working from home, you probably not driving your car that much. You should contact your insurance provider if they can reduce your premiums. Youi is a provider that charges your premiums depending on how much you drive your car.

Utility Bill:

• Working from home can increase your expenses like heating etc. The government has announced you will be able to claim $0.80c per hour working from home this financial year.

Small Business Loans:

• Businesses can access up to $250,000 to help keep employees employed and stay up-float. If you have been made redundant, you might want to contact your employer to discuss if you can get rehired. Rectifying the redundancy may be complicated.
• Businesses will have a holiday paying period and charged interest on the amount drawn down from the loan facility. 
• The banks will be using a formula to determine the amount they can lend you.

Superannuation access and your retirement:

• You can access up to $20,000 if your income or working hours have reduced by about 20-30%. Things to consider are :
• If you close to retirement, how will this affect your pension?
• Your portfolio has experienced a hit due to the economic slowdown, and a further withdrawal may profoundly impact your retirement savings.
• If you can refrain from accessing these funds, this will be beneficial for your future.

Feel free to reach out if you would like to discuss structuring a useful cash- flow strategy.