SCS Knowledge Hub: Managing Your Money in a Crisis
The COVID-19 health and financial crisis comes as a shock to most Canadians. Many struggle with reduced incomes, and find it harder to cover unexpected expenses or save for the future. Conversely, others save more as they reduce spending on expenses such as eating out and entertainment, and use the extra cash to build an emergency fund, invest, pay down debt, or save for a big purchase.
Are you financially resilient, able to withstand the curveballs life throws at you? Or financially fragile, facing the stress of juggling bills, racking up credit card debt, and borrowing from friends or family? In this webinar, you will find out the best money moves for tough times.
What you'll learn:
- Get a grip on your spending by tracking your income and expenses or using budgeting apps.
- Use credit wisely by building your credit score and reducing the interest on your loans or mortgage.
- Start a savings plan that lets you keep your short-term savings accessible yet safe from temptation.
- Invest your long-term savings to meet your goals, risk tolerance and need for tax reduction.
About the instructor:
B.A.(Hons.), Philosophy, McGill Univ.; M.A., Philosophy, U of T. Ellen Roseman is a personal finance columnist and former business editor at the Toronto Star. She is the author of Money 101: Every Canadian's Guide to Personal Finance, and she has been President of the Credit Counselling Service of Toronto. She has had a long career as a journalist specializing in consumer advocacy and personal finance.
