10 money mistakes people make in a recession

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10 money mistakes people make in a recession
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In uncertain times, it can be easy to make rash decisions that only make things worse

You can personally check your credit score as often as you’d like, and there are tools to help you improve it. It only takes6. Not preparing for the unexpected

Best of all, you won’t need to haggle with an insurance agent or fill out mountains of paperwork. PolicyMe willShopping around first can save you hundreds of dollars a year on life insurance and give you one less thing to worry about during this difficult time.Streaming services were a godsend for those of us stuck at home during the pandemic, but the price of maintaining multiple subscriptions can quickly pile up. And chances are you aren’t making the most of them anyway.

If you cancel a subscription and find that you miss it, you can always sign up again when your financial situation is a bit more stable. You might even be able to take advantage of a trial offer and get a month or two for free.When money is tight, it is tempting to want to borrow from your RRSP. But that cash today can have some major consequences, at tax time and again at retirement.

People faced with the prospect of downsizing during a recession will often try to tough it out because of the sentimental value their home holds. Moving’s no fun, either.

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