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The coronavirus is making drastic changes to how we are currently living our lives.
How do we navigate this current reality? This page includes articles we’ve written so far and a quick roundup of the latest news.
Our coronavirus related posts
- Your credit score may be the last thing on your mind right now, but you should try to protect it as best you can in these trying financial times. We’ve put together 12 tips to help you stay on top of things until the storm has passed.
- To help individuals and small businesses cope with the unprecedented economic fallout being caused by the global coronavirus pandemic, Canada’s major banks issued a joint statement announcing some changes.
- Stay up to date with current updates and advice as travel becomes more complicated due to increasing travel restrictions and border closures around the world.
- Unsure where you stand in terms of your planned travel and related travel insurance? Check out our deep dive into these issues.
- AIR MILES collectors may want to switch from Dream to Cash Miles for the duration of the global coronavirus pandemic, using them instead to help with day to day expenses.
- We’ve written about some of the current top credit card combos you may want to have in your wallet while stocking up on supplies and riding out the current financial storm.
- If you booked travel on or before March 12, 2020, AIR MILES is now waiving change fees and allowing cancellations.
- There’s a lot of talk about a recession coming to Canada in 2020. Let’s go over recession symptoms, common causes, and 8 things you can do now and in the future.
News roundup ‒ March 30, 2020
- The Canadian Parliamentary Budget Officer’s most recent report predicts that the economy could contract by 25% in the second quarter of this year, assuming physical distancing measures are in place through August.
- Government support for small businesses now includes a generous 75% wage subsidy and the opportunity for up to $40,000 in interest free loans.
- While the long-term economic fallout from the global pandemic is hard to predict, it is expected that the impact on small businesses, employment, immigration, and housing will likely be felt for years to come.
- There has also been a surge of scams and phishing attacks related to the COVID-19 crisis in Canada.
- The pandemic is also driving some innovation and change in Canada and around the world, as companies retool and refocus on helping deal with the global crisis.
News roundup ‒ March 27, 2020
- Prime Minister Trudeau announced today that the federal government is going to increase their efforts to bolster small businesses, including upping the wage subsidy to 75% and offering interest-free loans.
- In some positive news, it is being reported that physical distancing has halved the spread of COVID-19 in BC.
- The Bank of Canada has cut its interest rate yet again, this time another 0.25 points to 0.25%.
- And some experts are starting to take a look at the economic fallout and are predicting that we’re likely in for a pretty tough recession.
News roundup ‒ March 26, 2020
- There’s some controversy brewing around whether airlines are allowed to give vouchers instead of refunds for flights cancelled due to COVID-19. The Canadian Transportation Agency believes that vouchers are fine, but there are some lawyers who disagree.
- Prime Minister Trudeau announced that the government has asked banks and credit card companies to lower interest rates in response to the current economic crisis.
- The Canadian Mortgage and Housing Corporation is willing to take on more insured mortgages from banks so they are able to lend out more money and keep the economy afloat.
- The agriculture industry in Canada is warning of potential food shortages and price increases if they aren’t designated an essential service.
News roundup ‒ March 25, 2020
- With the pandemic disrupting the operation of so many businesses, nearly 1 million Canadians applied for EI last week.
- This morning, after a long night of discussion and debate, Parliament passed a $107 billion dollar COVID-19 aid package.
- And some banks have stepped up and put planned rate increases on hold to help Canadians weather this economic storm.
- In a recent poll, some 44% of Canadian households have reported that at least one person has been laid off or is working reduced hours.
News roundup ‒ March 24, 2020
- The coronavirus pandemic is having a massive economic impact here in Canada and around the globe. There is some help coming for small businesses, not only from the federal government, but some provincial governments as well.
News roundup ‒ March 23, 2020
- While the entire travel industry is taking a major hit due to the ongoing COVID-19 crisis, some of Canada’s major airlines are relatively well-positioned for coronavirus fallout.
- The Canadian government has announced a temporary partial wage subsidy for eligible small businesses, covering 10% of wages for a 3 month period. Find out if your business qualifies for the COVID-19 wage subsidy.
- While the big banks have announced they are making mortgage deferrals possible, the process is not going as smoothly and easily as everyone hoped, and there’s some potentially tricky fine print you may want to read before signing up.
- 500,000 Canadians filed for EI last week ‒ this is up from 27,000 applications in the same week last year.
News roundup ‒ March 20, 2020
- More Than 5,100 Air Canada Flight Attendants To Be Laid Off Amid Massive COVID-19 Slowdown
- Aeroplan Confirms Flight Reward Cancel With No Fee Policy And Pauses Expiration Of Mile + Air Canada Altitude Updates
- Here’s How #cdntech Companies Are Pitching In During COVID-19
- CIBC Announces Support For Small Business Owners
- Wedding Industry, Engaged Couples Facing ‘Unprecedented’ Cancellations Amid COVID-19 Outbreak
News roundup ‒ March 19, 2020
- Canada, U.S. Border Temporarily Closing To Non-essential Traffic To Slow COVID-19
- Trudeau Unveils $82B COVID-19 Emergency Response Package For Canadians, Businesses
- Canada’s Big Grocers Say There’s Enough Food Stock To Go Around
- How To Apply For EI And COVID-19 Emergency Benefits
- Air Canada To Suspend Most U.S., International Flights Amid Coronavirus Pandemic