Tips for weathering an economic slowdown
Posted March 27, 2013 7:23 pm.
This article is more than 5 years old.
The Bank of Canada has held interest rates low for a very long time now. Through the economic turmoil in Europe, through the economic devastation in the U.S., Canada has stayed true and steady. But it’s only a matter of time before what’s happening in the rest of the world shows up on our doorstep. Are you in a position to weather economic dark clouds?
We’ve been chomping our way through the buffet of consumerism using false teeth—credit—to gobble up any and everything that’s caught our eye. When interest rates start to rise, will you be able to sustain even your most basic needs? Survey after survey tells us people are concerned that even a small increase in interest rates may have a devastating impact on their personal economy. So what should you be doing to prepare?
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