While financial recovery is top of mind for many Canadians only one-in-three are setting financial goals as a New Year’s resolution.
A financial advisor for PC Financial, Jackie Porter, elaborates on why this is the case.....
“I think there’s a level of anxiety that comes with not knowing what to do. Even if you have goals it’s like what do I do next. So the holiday bills have come in, do I feel anxious about them, will I open the bills, will I look at them. So the first thing is to take action around our fears, open those bills and come up with a plan to pay off the bills sooner than later as we know we’re in high inflation, high interest times and I think tools are really important when it comes to creating a plan, like what tools do you have at your disposal.”
Porter adds establishing a “rainy day” fund is important, and says even contributing a small amount of money monthly can make a difference in the long run.