A recent article published on the TVA Nouvelles website reports on a Statistics Canada survey that contains interesting data on financial stress among Quebecers: Interest Rates and Inflation: Financial Stress Soars in Quebec | TVA Nouvelles
“One in five Quebecers had to take sick leave to manage increasing levels of financial stress.”
“Only half of salaried workers in Quebec say they have an emergency fund of $5,000, a decrease of 16 percentage points compared to 2021.”
Some tools to cope with financial stress during periods of inflation
If you are among those affected by the rising cost of living, here are some articles by Multi-Prêts Hypothèques to help guide your thinking and provide ideas on how to deal with financial stress you want to manage as quickly as possible:
- Make a budget- How to create a budget – Multi-Prêts Hypothèques (multi-prets.com)
- Use technology effectively for your budgeting – Apps to better manage your budget – Multi-Prêts Hypothèques (multi-prets.com)
- Develop healthy financial habits –- How to develop healthy financial habits – Multi-Prêts Hypothèques (multi-prets.com)
- Use the three-jar savings strategy – The 3-jar strategy to maximize your budget – Multi-Prêts Hypothèques (multi-prets.com)
- Consider refinancing or consolidating through your mortgage – Debt consolidation / refinancing – Multi-Prêts Hypothèques (multi-prets.com)
A mortgage broker is your best ally in restructuring your payments
When you are trying to find solutions to the financial challenges you are facing, contact your mortgage broker right away. First, they are professionals regulated by the Autorité des marchés financiers. Second, they work exclusively in your best interest and can also find solutions through access to more than 200 mortgage products.
If you have a mortgage and your financial stress is increasing, a simple phone call or email could potentially generate thousands of dollars in interest savings, or provide a much-needed financial breathing space for you and your family under current circumstances.
Find a mortgage broker – Multi-Prêts Hypothèques (multi-prets.com)