Thursday 29 October 2020

The Unprepared March On

So there was a survey done recently with regards to people who are on some form of COVID financial relief. 

Apparently 39% of respondents had no idea what they were going to do once the COVID financial relief stopped coming.

No idea how they were going to pay their bills, let alone deal with their mounting debt.

The only “bright” spot is that the Bank of Canada has, as recently as this week, stated that they will keep their key interest rate near zero for the next couple of years at least.

So . . . sorta good news for the indebted.

COVID financial relief has been a great help to people but the one thing I can all but guarantee everyone is that it is not going to continue forever, nor will it shift and morph into some sort of Guaranteed Annual Income.

Politicians and business leaders just cringe at the thought as the belief is that if people get free money they won’t do anything or work . . . and in so doing, western civilization crumbles.

They will work, as they all need to pay their mounting debts.

My point in today’s ramble is this . . . do something now to pay off your debt. Do something now to plan for what will happen when all of the government assistance stops coming.

Just because you have your eyes closed as you walk doesn’t mean that you won’t hit that brick wall you’re walking towards.

As always: Keep your head up, your attitude positive, and keep moving forward!

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