“Financial emergencies can happen to anyone and come at any time. They can be the result of family illness, job loss, urgent home repairs, or a weather event like a major flood”, explains the Canadian government.
Today, a large number of Canadians are worried about the impact of the current COVID-19 on their personal finances. In a situation of uncertainty, financial emergencies can be stressful and cause considerable human and financial hardships. It is crucial that everyone obtains the help and quality advice needed in order to better manage their budget, savings and debt in order to be protected against the unexpected, especially during a pandemic. Progressing towards financial empowerment means learning to better manage personal budgets and making sound financial decisions, while protecting your personal data.
Faced with these challenges, fintechs can bring solutions to help Canadians.