Is it even possible to budget for this economy?

By The Big Story

In today’s Big Story podcast, after one of the most turbulent economic years in recent memory, many Canadians are looking ahead at 2023 and wondering how they can possibly organize their finances in a time of such extreme volatility.

Shannon Lee Simmons is a certified financial planner, a chartered investment manager, the founder of the New School of Finance and the author of No-Regret Decisions. She joins us to share some advice for Canadians about how to better understand their own finances, and insulate themselves from unforeseen economic hardship.

“You want to think about what your income would look like if it got disrupted … and then taking some steps to cushion the blow if that does happen,” she said.

So what should Canadians expect from their economy this year? How can you make financial plans in an age of inflation and interest rates, when everything from everyday groceries to the stocks in your portfolio are volatile? Should we still be worried about filling our RRSPs and savings accounts, or just stashing anything possible to try and get by?

You can subscribe to The Big Story podcast on Apple Podcasts, Google and Spotify.

You can also find it at thebigstorypodcast.ca.

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