Carrying On: Mental Health Strategies for COVID-19

Episode 23: Financial health management (April 22, 2020)

April 22, 2020 The Conference Board of Canada Season 1 Episode 23
Carrying On: Mental Health Strategies for COVID-19
Episode 23: Financial health management (April 22, 2020)
Show Notes

Dr. Bill Howatt on Financial Health; it was the #1 cause of stress amongst Canadians pre-COVID-19. Hear Dr. Bill’s tips on financial health management, for better mental health.

Before COVID-19, financial health was #1 cause of stress in Canada. It’s very common; approx. 177% of debt load is household debt. 54% of population was concerned about financial debt, ave. Employee spends 1hr/day distracted by finances. 9 million hours a day of workforce productivity lost on financial stress.

Tip: Take a look at your budget. Bills, discretionary and savings. Rule of 3 months of savings, at minimum. Feeling bad about past decisions is not helpful; look ahead. Differentiate want vs need.  Use available resources. Avoid taking on debt. Be careful from whom you chose to take advice from (as a financial planner). Protect yourself from fraud.

Learn more at https://www.conferenceboard.ca/covid-19

Support the show (https://www.conferenceboard.ca)