This is the stuff you need to know to get smart with your money, financially fit and start making millions.
“For her own finances, Bissett reviewed her cash flow, reduced expenses where possible, and applied for government programs where she qualified. Like any forward-looking business, she also “reached out to contacts to see where [she] can assist.” Just as you’re dealing with new challenges, so are your customers and clients. You may be the source of a new and creative solution to whatever they’re facing today.”
People have been sounding the alarm about rising food and rent costs for years. More than a quarter of Canadians indicated they’d be out of money within a month if they lost their jobs, per a 2014 survey from the Bank of Montreal. “I’m not surprised,” says Tracey Bissett, chief financial fitness trainer at Bissett Financial Fitness Inc. If anything, Bissett says, she’d guess the Ipsos poll is a little conservative.
“Don’t go into a downward spiral,” Bissett said. “If you have a financial advisor, call them and talk to them to get some perspective on the situation. They have data and can also speak about past downturns. You can’t get perspective on your own if you’re freaked out. “At times like these, really good financial advisors and planners show up for you.”
Check your email for receipts…Don’t miss out on credit for charitable deductions because you haven’t bothered to collect your donation receipts, says Tracey Bissett, president of Bissett Financial Fitness Inc. in Toronto.
Tracey Bissett, chief financial fitness trainer at Bissett Financial Fitness Inc., suggested you use a credit card payment calculator to see exactly how long it would take you to pay off debt if you only make the minimum payment each month because increasing your monthly payment by even a small amount will shorten the time it will take you to pay off your balance by a lot.
“The good news is that with the help of a therapist and a financial expert, ‘everyone can change their money mindset,’” Tracey Bissett said. She’s the president of Bissett Financial Fitness.
The year 2020 has been eventful to say the least. If you haven’t been directly affected financially by the economic disruption, there’s a decent chance you know someone who has. Considering the current unemployment rate, shutdowns, and rising federal debt, it’s understandable that you may be feeling stressed about your finances. It may even be causing you to lose sleep. Here are some ways that you can manage your financial stress during trying times.
