This translation has been automatically generated and has not been verified for accuracy.People are adjusting to the loss of jobs and income and becoming a little less pessimistic, weekly polling by the credit monitoring company TransUnion shows. But the data also suggest that the full range of damage to our personal finances has yet to be seen.
“I don’t think a lot of Canadians had a plan when [the virus] hit, and the suddenness of it caught a lot of people by surprise,” said Matt Fabian, director of research and Industry insights at TransUnion. “We’re starting to see a layer of uncertainty fade now. People have gone from ‘I don’t know’ to ‘I have a plan.’”
Parents of the baby boom generation, remember how eager you were to help your adult kids buy houses in the pre-pandemic world? Now, your help may be more urgently needed for rent, mortgage payments and other living costs. Here’s an opportunity for a generation less affected financially in the pandemic to help a much harder hit generation.