How to Cope Financially If EI Assistance is Not Enough
Since the COVID-19 pandemic hit, many Canadians have been out of work. Statistics Canada found that one-in-five Canadian businesses have laid off more than 80% of their staff. As the unemployment numbers rise, Canadians have turned to federal assistance — employment insurance (EI) and the Canada Emergency Response Benefit (CERB). Maclean’s reported that as of […]
Debts Deferred or Suspended? Read This…
With the COVID-19 pandemic ongoing, many debts have been deferred or suspended. For instance, Canada’s big banks have been offering mortgage deferrals on a case-by-case basis. The Government of Canada has temporarily suspended federal student loan payments. Some credit card providers have offered deferrals on payments. Some car loan lenders and utility providers have also […]
New 2020 Income Tax Deadline: What This Means for You
Normally, at this time of year, we would be reminding Canadians to have their income taxes filed by April 30. However, 2020 is a very different year — with a very different income tax deadline. Due to the novel coronavirus (COVID-19) pandemic, the Canadian government has extended the income tax deadline for the 2019/2020 year. […]
Bank of Canada Interest Rate Decreases and Coronavirus in Canada
Over the past month, the Bank of Canada interest rate has dropped to the lowest it has been since July of 2017 — 0.25%. Is this a good thing? A negative? And what does it mean for your finances — especially during the novel coronavirus (COVID-19) pandemic? We’re answering all these questions and more. Canadian […]
What To Do If You Can’t Pay Your Rent or Mortgage
With the development of the novel coronavirus (COVID-19) pandemic, many Canadians are struggling to pay their bills — including rent or mortgage payments. An Angus-Reid survey showed that 1 in 3 Canadians worry they’ll miss a rent or mortgage payment due to COVID-19. A survey from the Canadian Federation of Small Businesses found that 23% […]
Get Debt Help Without Leaving the House – Here’s How
In the past, before the novel coronavirus (COVID-19) people might have gone to see a financial consultant in person for debt help or otherwise, but with social distancing in effect, that is not advised right now unless absolutely essential. However, debt help is more necessary than ever right now. The impact of COVID-19 has left […]
COVID-19 Income and Debt Help for Canadians
The past two weeks have been a non-stop train of breaking news as Canada copes with the novel coronavirus, COVID-19. This public health pandemic is affecting many across the country — both medically and financially. In order to “flatten the curve” and reduce the risk of infection, many businesses and public services have been suspended, […]