I normally discuss topics and strategies related to money matters and
personal finances, but given the current pandemic emergency, this article
will offer some points to consider during this unique climate.
The effects of the pandemic are causing financial issues which most
people are going to have to adjust too.

Once again debt management will become even more imperative
for both the long and short term. Many of us are receiving the Canada
Emergency Response Benefit (CERB) or EI payments and know
what cash flows to expect for the next few months.

Make a soft budget and live within these means.
Consolidate your debt! Interest rates are low and I believe that financial
institutions have a duty and are trying to help during this crisis, take
advantage. Saving and budgeting is the priority! Cook your meals and
save money on food costs. Negotiate with your landlord and the mortgage
company where possible, remember your landlord also has bills to pay so
be reasonable.

Use this time to learn a new skill or enhance your knowledge for this
changing world. Many colleges are offering extended online programs.
This virus is going to change how we live, interact with family, friends and society. Since you are confined to your home, reach out and help the
needy, maybe your neighbour or even the food bank.

If you are overspending on luxuries which quickly lose value and utility in times of crisis, then you can avoid making similar purchases. The
ordinary folks of this country will manage with less but the politicians
at all levels, are continuing to draw their big salaries. They need to lead
by example by giving back to communities that need assistance.
The front-line workers, the truckers and delivery people, the sanitation
and janitorial workers and others are putting themselves at risk to
maintain our way of life. Let’s be grateful and support in whatever way
we can.

Did you know that the mechanic who looks after our cars is paid more than
the caretaker who looks after our elderly. We need to balance our priorities. Hyper-capitalism and consumerism has shifted our focus
from the health and well-being of our citizens, to just the mass accumulation of stuff.

Rattan Gandhi is owner of Quick Refund Tax, 133 Sixth St. His
opinions stem from 15 years of experience in helping clients in the
tax area. If you have questions, he can be reached at 905-616-5253 or
rattangandhi@gmail.com.