Ask-an-Expert: The Big D - Debt Management
With so many Canadians out of work right now, people will be leaning on credit more than before. We know that effective debt management is a key contributor to financial health so to help normalize the conversation around Debt, we brought in the experts from Bromwich+Smith.
A recent survey found Canadian families and individuals are already falling behind on personal finances during the COVID-19 crisis. In Ontario, 49% of families have experienced an income reduction.
Are you worried about a jump in your debt levels and how that might impact your ability to get financing?
During these unprecedented times, it's important that Canadians know it is okay to reach out to professionals for financial advice. There is no shame in struggling with finances – we are all in this together.
On average, Canadians are good at managing their credit, but the economy is in a recession. It’s hard to predict the unemployment rates because what we don’t know yet is how many of these job losses are temporary.
We need to know what our financing options are and what resources are available.
Where do we start? Let’s start by just openly talking about our own financial challenges. Bromwich+Smith offers free over the phone personalized consultations. There is no shame in finding out your options and making decisions to rebuild for a brighter financial future. If you or someone you know is struggling with debt, know this -- we got you! There is life after debt and we are here to help…
--
YourMortgageYourWay.ca
https://yourmortgageyourway.ca
Lic#12462
47 Harbour Square, Toronto, Ontario
M5J 2G4, Canada
[email protected]
Tel: 416-640-0930