With the COVID-19 pandemic making the average household tight on money, Warren Buffet has come out with his tips to surviving financially.

 

Firstly, Buffet says to take advantage of low interest rates. “This is a very good time to borrow money, which means it may not be such a great time to lend money, but it`s good… that it`s a good time to borrow money”. With the Bank of Canada cutting interest rates, Buffer says it’s an excellent time to borrow for home buyers and homeowners.

 

Since we also don’t know what to expect in the coming months financially, Buffet says to be ready for the worst. He recommends getting insurance to cover yourself and your family in the event of unfortunate circumstance.

 

Finally, Buffet says to stick to your long-term plan. He is confident the economy will bounce back from the COVID-19 pandemic so withdrawing your investments now will result in investors missing out on the gains.

 

Do you need help with your long term plan, insurance, or financial advice? Contact Brown Financial Corporation today and we can set you on the right path.

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