We often tend to say that the world of finance is a jungle. Even pushing the metaphor further, we could also consider that it is better to keep an ant rather than an ostrich to avoid trouble. But even a good family manager can see their budget crumble when the economy gets involved.
To limit the damage, you must react quickly. The worst possible reaction is to accumulate debts for several months before your banker ends up calling you to order.
Negotiate flexibility
Instead, take the lead. Your first reflex should be to contact your bank branch, as soon as you anticipate a drop in income, in order to explain your situation to them. In this way, you will be able to obtain an easing of the management of your current account.
Exceptional direct debits which could have led to additional costs may therefore be authorized in exceptional cases. It may also be wise to negotiate a temporary increase in the limit of your authorized overdraft, the time to pass this difficult course. This will save you from squeezing your budget a little more with prohibitive agios.
Some online banks also allow you to make the modification alone, from your personal space. Finally, if you have outstanding credits in your bank, you can request a postponement or a downward modulation of the maturities. This type of provision is provided for in most contracts.
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