By Karin Mizgala, Co-Founder and CEO Money Coaches Canada
To say it’s been a tough last few years is a big understatement. We were finally starting to plan for a more normal summer and wham, we’re now facing the aftermaths of the COVID-19 crisis – sky-high gas prices, rising food and travel costs, and interest rates hikes that are wreaking havoc with the stock, bond and real estate market.
According to a recent LifeWorks’ Mental Health Index report, 46 per cent of Canadians are feeling an increased sensitivity to stress than they were prior to the COVID-19 pandemic, impacting their overall mental health.
With so much negative economic and financial news, it’s not surprising that financial stress levels are on the rise. While there’s no way of escaping a challenging economic cycle, it is a good time to go back to the basics and make sure you are as well-positioned as possible to ride the storm.