Five things to do for your finances right now

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These are uncertain times—and although health may be top of mind, COVID-19 is also making people anxious about their finances. And while everybody’s situation is a little different, it’s a good time to take a few steps to help put your mind at ease about your finances. We spoke with Nigel Wyles, Branch Manager at Bayview Credit Union, who shared five things you can do right now to take care of your finances.

Set up online banking.

If you haven’t already registered for online banking, now is the right time to do so. Download the credit union app for free or visit your local credit union’s website for more information. It’s also a good idea to know where your nearest ATM is located.

Be an active part of your finances.

Everybody’s financial situation is unique. But, as we get older or reach different milestones in life, our financial needs and situations can change. This is true at all times, not just in times of crisis. It’s never too late to take a more active role in ensuring your money is working for you.

This is a great way to reduce your worries and your need to go out and pay things like your utilities, insurance and other regularly scheduled bill payments. Your credit union can help you set it up.

Stay informed.

There have been lots of announcements about financial assistance for Atlantic Canadians. One thing to know is that help is on the way. It can be tough to sort through everything and find the information you need, but a few good places to start are the federal government’s website announcing economic support, reputable news sources, or even your local credit union.

Don’t panic.

This is an unprecedented situation, which means we don’t have all the information we would like right now. But it’s important to slow down and think about both your immediate and long-term needs. Now is not the time for knee-jerk reactions. If you’re wondering what that means for you, reach out to your local credit union financial expert and have a discussion.

Support each other.

Community has never been more important. We all need to support each other as we face what’s to come next. That can be everything from dropping off groceries for a neighbour, supporting local businesses, or reaching out to your support network—like your credit union.