Financial health plays a major role in our physical, psychological and emotional wellbeing. If you, or someone close to you, are going through a difficult financial time, you might find it challenging to maintain your wellbeing. Here are some tips on things you can do to thrive in this ever-changing situation.
Stay on top of reliable information
Turn to reliable news sources and keep up to date on what the provincial and federal governments are doing to help. In addition to essential medical information, measures are being taken to help those who are being affected financially.
- Government of Canada: Economic Response
- Government of British Columbia: COVID-19 Provincial Support and Information
- Credit Counselling Society: Financial Relief Infographic
Utilize programs available to you, or the person you trying to support
- Financial assistance can come in the form of traditional and medical EI and the Emergency Care Benefit program.
- Contact the Employee and Family Assistance Program (EFAP) to speak with a financial advisor *. If you require additional emotional support, your EFAP can also help with psychological counselling.
Create a budget
Building a realistic budget helps to manage your finances, evaluate how much you earn, spend and save, and also helps to assess financial goals and needs.
- MyMoneycoach.ca: free interactive budget worksheet
- Financial Consumer Agency of Canada: Budget Planner
- Download a budgeting app to tracking expenses, savings and debt
Protect your mental and physical well-being
Connect with friends and loved ones, check-in with elderly parents or neighbours who may have trouble getting the basics they need. We are all in this together — individuals, families, UBC community, and all levels of the health-care system and government. Sticking together (from a distance) and helping each other out is the primary way we will thrive moving forward.
Stay safe and well.
Truelove
*Note: Please enter “University of British Columbia” as your organization to access the website
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