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Make mornings easier with end-of-day rituals

Posted on January 26, 2016 by admin

As all productive workers know, the end of a working day is just as important as the beginning. While the lead up to finishing time in the late afternoon usually sees the majority of workers counting down the minutes until they can clock off, productive workers that engage in a few simple rituals at the end of the day can help them get off to a fast start in the morning.

Closing rituals can help you pinpoint exactly what you have to do the next day as soon as you walk into the office, increasing the likelihood of getting more things done, and not having to take your work home with you. Here is a three-step routine to help you to make sure you start every day on track.

Triage your to-do list
Evaluate what you can realistically complete today, and what could be pushed back to the next day. Adjust your to-do list based on this. Any task that is non-essential can be moved further back, delegated to someone else, or removed entirely.

Review tomorrow’s calendar
While it is natural to focus on what you have to get done now on busy days, making a point of checking your calendar a few hours before you finish work can mitigate the possibility of forgetting about a commitment that requires preparation work. For example, if you need to prepare for a meeting tomorrow, judge whether you should start preparing this afternoon or first thing in the morning.

Update tomorrow’s to-do list
When you’ve finished all of today’s tasks, spend a couple of minutes reviewing tomorrow’s to-do list. Decide whether tasks need to be completed in a certain order or prioritise items based on their importance. Organising tomorrow’s to-do list means you can walk into work the next morning knowing exactly what you’re going to work on instead of spending precious time getting organised.

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Avoiding mortgage default

Posted on August 26, 2020 by admin

As individuals struggle with cash flow through the coronavirus, the Australian Bankers Association records that repayments on almost 500,000 mortgages have been deferred for six months. While repayments can be delayed, they cannot be avoided altogether.

Lenders can send you a default notice the day your repayment is overdue. However, they could also wait until your repayment is overdue by 90 or more days. When you receive a default notice, you are given 30 days to repay the amounts you have missed in addition to the regular repayment on your loan. Individuals who are struggling with their home loan repayments can avoid mortgage default by considering the following.

Contact your lender
Lenders are generally willing to work with you through financial hardship. Don’t be afraid to contact your lender to discuss your situation and find out what options are available for you. Lenders are often willing to negotiate short-term variations to repayment schedules that both parties can agree to. However, make sure that you do not agree to unrealistic repayment conditions that cannot be met.

Many Australian banks are offering a six-month deferral on mortgage repayments (including interest) for customers who are experiencing financial hardship as a result of COVID-19. If this is you, contact your bank to see if this is an option.

Apply for a hardship variation
Mortgage holders may be able to change the terms of their loan or temporarily pause or reduce their repayments under a hardship variation. A hardship variation can still be requested after you receive a mortgage default. To apply for one, contact your lender’s “hardship officer” and tell them that you wish to change your loan repayments due to financial hardship. This will usually require you to explain why you are struggling to make payments and to estimate how long your financial problems will continue to determine how much you can afford to repay.

After submitting a hardship variation request, your lender must contact you within 21 days with the outcome of your request. They may ask you for more details regarding your request; in this case, they must contact you again within 21 days from when you provide the additional information.

Consider selling your home
Selling your home is a tough decision, but in some cases this may be the better option if your circumstances are unlikely to improve. If you get to the point where your lender takes possession of your home and sells it, it’s likely that you won’t make as much as if you sold it yourself. When you sell your house on your own terms, chances are you will get a better price and avoid having to pay the legal fees passed on by your lender. Inform your lender if you decide to sell your home; they may ask for proof, such as a copy of the contract with your real estate agent or property advertisements.

Renting out your home until you can afford to make repayments again may also be an option if you are able to live somewhere else during this period.

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