There have been many times in 2020 when we’ve heard people say: “I wish I had been better preparedfinancially to deal with this emergency.”We’re optimists too, so we understand that planning for the unknown is often sacrificed for more fun ways to spend money. That’s why Derrick and Travishave askedIsland Savings' Senior Financial Advisor, Stephanie Brownlow, to share the advice that she gives her members – and uses herself – to protect their financial health. 

1:10–Money Problem:When the pandemic pushed the markets down, many of Travis’ clientswho were drawing RIF payments were in danger of losing a greater amount of their savings. 

2:30– Expert Examination:There are seven simple ways to add resilience to your financial health:  

• Lesson 1: our budgets aren’t stress-tested. 
• Lesson 2: we carry too much debt. 
• Lesson 3:we can do more things for ourselves! 
• Lesson 4:we’re probably spending too much on fun. 
• Lesson 5:we panic too easily. 
• Lesson 6:we've left our legacy unplanned. 
• Lesson 7:we're not using all the tools our financial institution offers to help us. 

22:30–Weekly Financial Fix:Travis’ challenge this week will help you break the cycle of scrambling for help when the next emergency surprises you. 

If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode.