Can you sell movable property?
Do you own valuable assets such as a bike, boat, trailer, tools, fitness equipment, expensive bags or clothes? By selling these, you can raise fresh money that you can use to pay down debt quickly. This can be a good idea if you're facing temporary problems, such as expensive small loans or consumer debt that you can no longer service.
Can you work more?
Do you see that you're going to struggle to make ends meet for a long time? Then you can look into the possibility of working extra hours or consider taking on an extra job. Some people choose to work extra in the evenings or take weekend shifts to boost their finances.
Can you embrace the sharing economy?
Maybe you don't have the opportunity to work extra, but you can earn money on what you already have by renting out? There are services for renting out homes, cars, clothes and tools, among other things. It's also smart to buy used instead of new when you find yourself in a tight financial situation.
Can you negotiate on the interest rate?
It pays to keep an eye on the interest rate on your mortgage. Finansportalen.no compares loans and interest rates for you and provides suggestions on how you can negotiate with your bank to get a lower interest rate on your loan.
Can you refinance small loans?
Do you have healthy finances without payment remarks and debt collection? Then check with your bank whether they can either roll the debt into your mortgage or a more affordable unsecured loan. Unsecured small loans often have high interest rates and short payment periods, which can be challenging to manage.
If you have small loans AND debt collection or payment remarks, you can contact a specialist bank, such as us, and see if refinancing with mortgage security is right for you.
Can you negotiate on your insurance?
Finansportalen.no can also be used to compare insurance policies and find a quote that suits you. Be careful to check what the insurance policies cover, so that you don't end up with a poorer insurance policy than you need.
Can you sell your car?
Cars are expensive. We see many people with expensive car loans choosing to sell down to a more affordable model to make extra room in their finances. Do you have more than one car? Carefully consider whether you need more cars and whether you can actually afford it. There can be a lot to save here.
Do you need to sell your home?
This is an important question to ask yourself if you experience a permanent drop in income or start borrowing money to make ends meet. Selling your home can be painful and challenging, but it's also an opportunity to clear your finances and get rid of worries about bills.
One last piece of advice: Get in touch with an advisor at your bank. If you're struggling to make ends meet, or if you already have bills that you can't prioritize, it can be a great help to talk to another person who can see opportunities for you.
