July 13, 2020

Are You Struggling Financially? Talk to Your Banker

If you’ve been knocked off your feet due to unexpected job loss, a health emergency, or any other life difficulty, managing your finances can feel like an uphill battle. As soon as one bill is paid, three more arrive. You have just enough to cover minimum payments and then the car breaks down. Savings – what savings? It’s hard enough to make ends meet.

The most important thing to understand in this situation is you are not alone. You are not the only one going through a hard time and, more importantly, you don’t have to get through it on your own.

So – how can a banker help?

A banker is here for you before things get worse.

Feelings of isolation, embarrassment, or an uncertainty of where to turn can lead to problems being avoided and swept under the rug – where they grow and multiply and begin to take on a life of their own.

Never be afraid to share bad news with your banker. The best thing you can do is talk about it before it becomes too difficult to manage. The sooner it’s brought to the surface, the sooner we can create a plan and you can start feeling relief.

A banker provides a professional, whole-picture perspective.

When things are hard, open communication with a spouse and family members is a great place to start. Setting and sticking to a household budget will give you a sense of control, teamwork, and accomplishment as progress is made.

But the support and understanding of those around you is not always enough. An outside perspective from a professional can make all the difference in getting back on your feet. They will help you see past the emotional strain and seek solutions based on the facts of your unique situation.

A banker can identify options you may not know about.

In many cases, solutions are available you may not have considered. If bills have become too much to handle or credit card debt has increased, you may be able to roll into one payment to help get past the difficult period. Maybe your mortgage or car payment can be refinanced for a lower payment. Or we can tap into the equity in your home for much-needed funds today. It all starts with a conversation and some creativity.

A banker will help you build a financial plan.

It is said that failing to plan is planning to fail. A financial plan is your road map to navigate through the good times and bad – always keeping your goals in sight. If you don’t already have a plan, or it’s time to adjust your strategy, now is the time to sit down with a financial planner. They are ready to help.

A banker may recognize fraudulent charges.

 Are you going through all bills line-by-line to ensure the payments you are making are legitimate? When life is spinning out of control, you may not see the double charge from a retailer or that your card number (or whole identity) has been stolen while making an online purchase. Your hard-earned money should never be spent on fraudulent charges. A banker can help you identify, report, and dispute if fraud has occurred.

You may also like: 3 Ways to be Proactive with Finances During Hard Times

Fortifi Bank is here to help families and business owners navigate difficult and tumultuous times. Don’t wait until it’s too late – contact us at the onset of struggles to help get you back on your feet.

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