A special offer of support; COVID-19, your money and you

By now we’ve all been impacted by COVID-19 in one way or another. 

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Many of us are feeling worried and overwhelmed, not just about the state of the world and the health of those we love, but also our financial futures.

You may be wondering: How long will this last? How do I cope with reduced or eliminated income? Should I cash in my investments? What about debt? 

These questions are bound to come up, as people work from home, struggle to manage layoffs, apply for EI and try to continue with life in the new normal as best we can. 

We’ve put together a list of best practices for managing your money during the COVID-19 pandemic

  1. Don’t panic - just like it’s best not to communicate when you’re angry, it’s best to wait until you’re calm, have obtained expert advice and analyzed the pros and cons of making any major financial decision.

  2. Don’t sell - unless you absolutely have to. Remember it’s only when you sell your investments that you lose money. If you’re not sure what to do, get expert advice. You may be surprised to learn that now is actually the best time to buy.  Or, if you wait and hold on, the markets will come back and because you still have the same number of shares or units, the value will come back. If you are in the saving mode of life this is the best strategy for you.

  3. Leverage credit - instead of selling investments to cover unexpected costs or revenue shortfalls, consider using credit instead. A line of credit at a low-interest rate may be a more cost-effective way to access cash now, without affecting your long term goals.

  4. Sell smart - if you need to sell investments, sell the investment that has lost the least amount, in order to reduce the impact of selling at a loss.

  5. Emergency fund -  a good financial practice is to have three months of expenses saved in an emergency fund. If you’ve been following us for a while, you’ve heard us preach about this. This is the perfect time to access your emergency fund. If you don’t have one, this is an opportunity to learn for the future.

  6. Change your fund - If you are retired and selling each month for the payments you receive, you might want to change the source your funds come from. Contact your advisor today. 

  7. Reduce income & RIF payments - CRA has also announced you can reduce your minimum RIF payments.  This will help maintain the value when the market returns over time, as you would be selling less units.  This will only work if you can get by with less monthly income per month. Not a strategy for many. Call your advisor. 

  8. Access government supports- The Government of Canada has just announced an economic response plan to assist individuals, families, and businesses with financial support.  Visit the government web site, here for details.

  9. Have gratitude - while many of us are worried about how to best manage our money, many Canadians live paycheque to paycheque. We have a lot to be grateful for.

  10. Get expert advice - if you’re unsure about the next best financial steps for you and your family, get expert advice you can trust. Contact us today.

A special offer of support:


At Peacemakers For Families, we offer consultations, mediation, budgeting and collaboration to assist families going through transition. Our approach reduces stress, overwhelm and conflict by providing the right information, support, guidance and expertise in times of struggle. 

Contact us today to discuss the best way to manage your money during COVID-19. We’ll discuss your options and help you come up with a custom strategy, based on your unique situation. Remember, when things get challenging, our team is here to help.


The Financial Divorce Specialist COVID-19 response and changes to services and availability:

We are STILL OPEN FOR BUSINESS!! We are here to help you.

To protect you and your families we are 

‘ZOOMING TO STAY SAFE’    All our contact will be via telehealth. Zoom, Skype, email and telephone.  Don’t hesitate to contact us:

Dr. Tina
Ph: 403 863 6593

Wendy Olsen-Brodeur
Ph: 403.873.0292

Stay safe, stay home, stay healthy:

Manage your health- adhere to Government of Canada recommendations. Wash your hands, don’t touch your face, cough and sneeze into your elbows. Avoid groups, practice social distancing and if you’re sick, stay home and self-quarantine for 14 days. For more information visit Canada.ca

Take care of your mental health:

Practice breathing, gratitude, staying present, moving your body, taking breaks from the news and connecting with family and friends over video. If you’re newly working from home, ensure you’re sticking to a routine. 

Use this time well:

What activities bring you joy, or you’ve been putting off? Focus on getting re-acquainted with reading, gardening, crafts, doing puzzles, home renovations and other interests that may have been forgotten or neglected.


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