This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
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This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
Episode 43: How do you survive and grow during a recession?
Behind the Scenes EMA Mortgage Podcast
2 minutes 29 seconds
3 years ago
Episode 43: How do you survive and grow during a recession?
MAKE GOOD DECISIONS…
(1) DON’T RUN OUT OF MONEY - A recession brings lower sales and therefore less cash… SMART DEBT MANAGEMENT IS IMPORTANT..
HOUSEHOLDS with high levels of debt are especially vulnerable during a recession. MANAGE YOUR CASHFLOW.
(2) Make sure your financial plan is up to date. Plan ahead of the recessionary conditions. ...
(3) Review your budget. ...
(4) Fully fund your emergency savings or Just in Case Funds. ...
(5) Pay down debt. ... Interest Rates rising and higher debts levels can take away from your cash flow…
(6) Network and earn additional income. - Diversify your skill set… Add a rental unit…
(7) Look at Your Investments - stock market will suffer… Savvy Investors with cash on hand have an opportunity to buy stocks and real estate at a discount…
(8) Invest in Technology - Technology can make your business more transparent, more flexible, and more efficient. The second reason is that digital technology can help cut costs.
Behind the Scenes EMA Mortgage Podcast
This is a behind the scenes look at our local Mortgage Market in GTA West and South West Ontario. We discuss real life experiences of clients, partners and experts. Listen to learn and be entertained.
