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Making the final hour of your workday the most productive

Posted on March 21, 2016 by admin

Office productivity is not a sprint; it’s a marathon. And while some people are blessed with the power of concentration, most of us aren’t. By the time the workday starts winding down, a person’s willpower badly needs replenishing. That’s why it is so hard to finish the day as strong as it was started.

Luckily, forming habits can help preserve a person’s willpower. Creating and following a specific routine can help you get the most out of your last hour at work without having to think about it too much.

Here are six strategies (broken up into two categories) every worker can implement at the end of the working day:

Before the last hour

1. Check your emails: Review any unread messages and respond to the ones that need to be addressed before the end of the day. Mark the remaining emails requiring a response as unread so you remember to deal with them later.

2. Leave your communication channels: Signing out of your inbox and leaving other messaging applications is crucial to keeping your concentration. Not being able to view your notifications means you’re not left wondering what they’re about and thus, avoiding being distracted.

3. Take a quick break: Take a couple of minutes to drink some water, eat a healthy snack or go to the bathroom. Make sure you stretch your legs, as you’ll need to stay put to ensure the last hour is as productive as possible.

During the last hour

4. Reprioritise your to-do list: Use this time to assess your list. Identify what is most important and what could be pushed to tomorrow. See if there is anything that can be entirely removed from the list. If you need to, move items so you can determine what your real priorities are.

5. Review tomorrow’s schedule: Before you get to work on the next step, make sure there’s nothing you’ve forgotten about today. Have a quick glance at your schedule for the next day to gain a sense of how busy you’ll be and what priorities will need to be addressed.

6. Do the thing: Pick the most important of your priorities to finish now and leave everything else for later. Spend the last hour making as much progress as you can.

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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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