• Risa Andersen

Financial planning in COVID-19 Isolation



Financial Knowledge during the Unknown


Now, during this time of uncertainty, it is extremely important to be informed and positioned to handle your finances for the current times and to start (or continue) to plan for the future.


Between deferred mortgages, credit card rate changes and emergency benefits, how can anyone be sure they can keep up with the rules to be best prepared financially to recover from the effects of Covid-19.


We're keeping track and are always here to help you navigate through these and better times. We have compiled a few articles that explain the financial implications and if it's worth it in the long run, and how to get your money's worth where you can!




Carrying Debt during Covid-19

If you are carrying credit card debt, there are some things worth considering to manage your payments. Know your financial standings, build and review your budget and look at savings measures and lower interest cards. We're here to help with you build a budget if you need to work on yours or you don't have one yet; that's what we do!

Read more below:

https://www.cnbc.com/select/coronavirus-manage-credit-card-payment/


Deferring Mortgage effects on Credit Score

Before you take advantage of the deferred payment plans being offered by lenders across the country, be sure you know what's on the other side. Deferred payments may report as a late or missed payment on your bureau report down the road.

Can your credit score handle that hit?

https://www.thestar.com/business/personal_finance/2020/03/30/prevent-your-credit-score-from-diving-during-covid-19.html


Get a Fair Deal

What options do you have if can't pay your rent or your child's daycare continues to deduct payments while you're home with the kids?

If you have a wedding that will have to be postponed or have tickets to an event that has been cancelled, how do you make sure you don't lose your money?

https://www.cbc.ca/news/business/has-covid-19-messed-up-your-finances-here-s-how-to-fight-for-a-fair-deal-1.5522127


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