The drop in oil prices seems to be a mixed blessing for us here in Alberta. On the one hand we are seeing a reduced cost at the pump, but on the other hand the Province is missing out on a substantial amount of revenue.
Whatever the perspective, good or bad, one thing is for certain, alarm bells are ringing; and when you add to this trouble the likelihood of interest rates going up in the next year, it doesn’t take an economist to tell you that we are headed into some rough waters for 2016.
So what do you do when you hear the sound of alarm bells? You look for the danger, of course; but the truly terrifying thing about times like these is that the warning of the danger seems to be all around us.
You don’t have to be afraid though. You have the right to take control of your financial future by engaging the help of one of the counsellors here at Bromwich and Smith who will provide budgeting tips and show you how to weather the storm of climbing interest rates. Appointments are available outside of regular business hours in person or over the phone at no cost or obligation.
We have all heard the saying that “The rising tide lifts all boats”, but that only works if your boat is seaworthy. Don’t wait for the inevitable flood of interest rates to increase before making the repairs to your budget and cash flow, speak with one of our counsellors today to find out how we can help!