Anxiety over financial matters is stressful and can have a negative impact on your well-being, and that of your family. Last year brought new and unexpected challenges which may mean that your long-term financial plans will need reviewing or adjusting.
According to CPA Canada’s Canadian Finance Study 2020, of the participants:
• 31% say their income has decreased as a result of COVID-19.
• 30% report COVID-19 has reduced the amount they are saving.
• 21% of pre-retired respondents revealed they now plan to retire later as a result of COVID-19.
Clearly, there is no time like the present to get a handle on your personal finances. Regardless of your age or income, there are many ways that good financial planning can benefit you, both in the short term and the long term.
As well as new Covid-related concerns, statistics show that many Canadians are living with increasing levels of debt, and without a clear financial action plan. If you don’t have all the answers at your fingertips, your first step towards a more secure future should be to take advice from an expert. Professionals will work with you to maximize the assets you have, and could reduce your debt in the long term.
Seaside Magazine is pleased to present a selection of the qualified professionals located on the Saanich Peninsula who are available to help support your financial health.