Having a well defined financial plan is a good foundation for avoiding a debt crisis
The Walton Financial Group in Barrie Ontario will help you create a financial plan
Since banks and other lenders started offering Canadians the option to defer their payments on mortgages , credit cards , student loans and more – many people have taken advantage of this while Covid-19 affects their wallets.
The problem is that deferral is not forgiveness!
Canadians who have been skipping payments could find themselves with more debt . Some may not be able to make these payments , So- how do you avoid a debt crisis ?
The first step is to arrange aa meeting with a financial planner at the Walton Financial Group in Barrie Ontario for advice on how to manage your finances during these times
It is important that you budget and in doing this weigh wants versus needs and to evaluate your options . For example , this is where a Tax Free savings Account that you set up can be helpful and a better option than another credit card or loan.
When times are tough it is a good idea to consult with an experienced financial professional and have a solid financial plan . Give us a call
