Since banks and other lenders started offering Canadians the option to defer their payments – on mortgages, credited cards, student loans and more – thousands have taken the opportunity to press pause while the COVID-19 pandemic affects our pockets. Yes, you’ll owe more Cynthia Kett, a principal with Stewart & Kett Financial Advisors in Toronto,
Those in the personal finance industry want to encourage people to take steps to disaster-proof their finances so they aren’t caught unaware when another crisis emerges. “This is an unprecedented situation,” said Cynthia Kett, a principal at Stewart & Kett Financial Advisors in Toronto. “There hasn’t been anything other than the world wars that has
Cynthia Kett, a principal at Stewart & Kett Financial Advisors Inc. and also a member of the Foundation’s Professional Advisors Council, adds that organizing your finances helps you prioritize your financial goals, including establishing funds for charitable giving. If such planning seems daunting, Kett says the process can be broken down into manageable steps. The
Sean Cooper has graduated from renter to homeowner, at the age of 27, in one of Canada’s most expensive housing markets. He insists he is prepared to make sacrifices to reach his goal. “Some people prioritize different things in life,” says the young graduate with a Bachelor of Commerce degree. “Owning a car and going on vacation are more important to them.”
