COVID-19 Resources: Still working and looking for ways to take advantage of the current climate?

The current economic situation caused by COVID-19 is proving to be incredibly challenging financially for the millions of Canadians that have lost their jobs or who are living on a significantly reduced income. Many others, however, still have their jobs, and others still, such as healthcare workers and other front line workers are working and earning more than usual during the pandemic.

If you are still working and have not lost your income, there are ways that you can take advantage of the current economic climate to make smart financial moves:

• If you need cash for a future purchase or you simply want to improve your current financial situation by paying down debts or building credit, these 4 tips will show you how to set yourself up for success.
• If you have found yourself with additional income, should you save it, or pay down debt? Which will have the biggest impact on your finances?
• If you chose to pay down your debts with your extra income, which debts should you pay off first?
• This short video explains how to take advantage of low interest rates, increase your appeal to lenders, and set yourself up for future financial success.
• With a majority of stores now closed, many retailers have moved to selling online. However, without a credit card, making purchases online is virtually impossible. If your credit score is too low to be approved for a traditional credit card, a secured card is the best alternative.

Above all else, be smart with your income. If your job is not guaranteed, make sure you are still living well within your means, and even try to cut down on some of your expenses just to be on the safe side. For those with guaranteed employment for the duration of the pandemic, now is the time to make good financial choices that can set you up for the future!