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Financial Education

Good Financial Habits in the Post-Moratorial

With the end of the Covid-19 Moratorium, it is highly likely that clients who have benefitted from the agreement to defer payment of their debts would likely face new challenges. In the previous chapter, we explained what the Moratorium is and how to proceed with its approaching end. 

Now that the debt service relief ends on March 31, 2022, let us focus on talking about embracing good financial habits. Moving forward, it is crucial to apply certain strategies for better management of your finances so as to avoid defaulting on your credit.

Check out the tips listed below: 
Post-Moratorium: Three pillars to face the challenge
To improve the financial capacity of families and companies it is recommended to focus on three fundamental pillars:
  • Analyze your situation to forecast cash inflows and outflows in your budget and optimize your options;
  • Seek to underpin your decisions with data and figures. Pen and paper. Do the math;
  • If you eventually default after the end of your moratorium, you should contact our agency to assess the situation to identify payment solutions appropriate for your case.
Solutions to alleviate the impact - Households
With the end of the Covid-19 Moratorium, and because many families and businesses are finding it difficult to recover their income, it is crucial to find solutions to alleviate the impact of the end of this measure.


We have selected a set of tips for you and your family to save and even increase your income:

  • Inform yourself about a possible renegotiation of the conditions of your contract. The sooner you act, the better;
  • Adapt your available family budget to support the new installment;
  • When reorganizing the family budget, it is essential to find ways of saving;
  • Even the children in the household can develop attitudes that contribute to saving. Caixa recently launched the book "A Poupança de Zito" (Zito's Savings) which helps children to learn more about financial products designed especially for children and tips for saving and earning. You can download the booklet for free; 
  • As we have already mentioned in the previous chapter "Spending efficiently", you can choose to withdraw a part of your income at the beginning of the month;
  • Get into the habit of comparing prices before buying products and services;
  • It is possible to save money if you have the habit of cooking at home. However, you should plan your weekly menus properly to avoid over-purchases and also the use of takeaways.
  • Choose to repair what can be repaired and reuse, avoiding buying when it is not necessary;
  • Besides saving, you can also increase the family's income. Do you like to paint, make sweets, sew, or do you have another hobby? Then it is time to turn your hobby into an extra income.
  • Another way to increase your income is to sell things you no longer use. With the double advantage of having more free space at home and more money in the account.
Solutions to alleviate the impact - Companies
With the end of the moratorium, all companies that used this mechanism will have to pay the credits. Even so, it is important to foresee the market scenarios (from the most pessimistic to the most optimistic), anticipate the inflows and outflows of money, and act effectively for the good financial health of your company.  

  • If you have used other measures to maintain jobs it is important to calculate the weight of these and the costs of the end of the moratorium on your company's cash flow;
  • Find out about support measures that may be suitable for your company and which you can use;
  • Make the accounts for expenses and income before and after the end of the moratorium to identify where you can save, always in the search for the financial balance of your enterprise;
  • It is important to act quickly to make the necessary adjustments and reduce costs;
  • Propose the renegotiation of deadlines with your suppliers; 
  • If the company is in difficulties, it may resort to financing through credit lines for the business sector. Caixa provides solutions aligned with your business vision. Get to know our products for the Corporate Customer;
  • The sooner you plan and prepare, the better your company can manage the end of the moratorium. 
What can your bank do for you?
With the end of the Covid-19 Moratorium, Caixa continues (within its legal and regulatory framework) to monitor and assess each customer's particular situation. Depending on each case (and wherever possible) Caixa presents adaptable payment solutions to honor its contracts. 

By taking care of its customers, Caixa helps to reduce the impact of the end of the moratorium and thus continue to build relationships that last even after the loan cycle.

Remember neither the customer nor the bank gains from default, quite the opposite. 
The best piece of advice you will hear today
If you are in a delicate financial situation, you must do everything so that debts do not accumulate. Anticipate. Look for possible solutions for your case in order to avoid defaulting and mitigate the impact of the end of the moratorium.
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