What you need to figure out if you are worried about your finances during the COVID-19 pandemic is your cash flow.
Personal finance educator, Kelley Keehn says for businesses and for people who have had their hours cut or have been laid off, you need to look at what is coming in and what is going out.
She suggests contacting a professional financial planner to help you figure out what supports are out there, because there have been funding announcements from both the provincial and federal governments.
If you decide to do it on your own, Keen urges to be aware of what the supports are and when they are coming into effect.
The big banks have also announced support for those financially affected by the pandemic, including the ability to defer mortgage payments for up to 6 months on a case by case basis, or deferring credit card payments or loan payments.
Keen suggests if you are feeling financial stress, reach out to your lender, rather than staying silent and trying to do it all on your own.