COVID-19 has taught us that competent financial planning must be a priority

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Even before the pandemic hit, it seems that many Canadians were already living paycheque to paycheque. In a survey conducted by Refresh Financial, almost half of the respondents said they have no savings for an emergency, while 53 per cent counted the days until payday came around again. Now, throw a pandemic in the mix, and you can imagine the toll it takes on a person’s financial situation. With more insightful planning, some discerning financial tactics and tools, plus step-by-step guidance through investment strategies and potential income earning ideas, you may find yourself better equipped to deal with what the economy may hand you.

The economic effects of COVID-19

It’s no surprise that unemployment figures are up across the country. With lockdowns and closures, hours were cut and jobs were lost. While there has been some improvement over the past months, the latest rate still sits at approximately 7.5 per cent. About 27.5 million Canadians are receiving COVID-19 employment benefits. Those affected the most were those already earning lower wages to begin with.

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How you can financially prepare yourself for any market condition

Undoubtedly, you’ve heard of those small, simple things you can do to help you save money. Bring your lunch to work. Don’t buy coffee from a barista. Source less expensive plans for some of your regular expenses like insurance, cell phone and internet. Make and stick to a budget. These are all great tips, but for your long-term financial goals, you’ll need to think bigger.

You will need to explore the ways and means to generate more income, and then how to invest that income to pay bigger returns. You may want to consider a wider range of income streams, such as real estate, self-employment and the stock market. You will want to think forward to retirement and how to financially prepare for that eventuality.

Learn the ins and outs

All this starts with financial empowerment — learning how to build and manage your credit, handle debit and how to save and start investing. This 9-Course Guide to Recession-Proofing Your Finances will lead you through that and so much of what was discussed above. The Financial Analyst Training & Investing Course will give you a solid understanding of the financial industry, whether you want to actually take your career in that direction, or merely have the expertise to deal with your own finances.

For only $39.00, this invaluable bundle offers lifetime access to 495 lessons—that’s 98 per cent off the regular retail price, a small investment for potential financial security.

Prices subject to change.