HomeLoansHere’s how you can recession-proof your finances

Here’s how you can recession-proof your finances

It’s not too late to take action to protect your finances as the cost of most things balloons.

These classic strategies can help you save money, spend wisely and protect your assets (what you’ve worked so hard to build up) throughout an economic downturn.

And, even if you only implement a few, you’ll be financially stronger for it.

Be ready to change jobs

Good news is that the labour market is still quite strong in Canada.

But no one knows for how long, and if a recession takes a strong grip, jobs could be harder to find.

My advice is to be ready in the event you need to look for work. This means ensuring your resume and LinkedIn profile are up to date, that you have references waiting in the wings and keeping a close eye on postings that could be a great career fit for you.

A little bit of networking can also go a long way right now, so if you feel comfortable with it, get out…

Read more at www.thestar.com

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