Government programs and expense deferral

The government programs available to assist you are going to be different for you depending on where in Canada you live.

Some programs will provide you income, some will be grants (assistance you won't have to pay back) and others will be simple expense deferral.

You'll want to search for what COVID-19 assistance is available in your city, town, region, and province.

Once you understand what kind of reduction or deferral, you'll be able to make you can update or eliminate that expense in the worksheet.

When it comes to deferring an expense, it is important to remember that will have to be paid at some time in the future. It is another form of debt. However, it is interest-free debt that does not affect credit scores and your ability to access other debt, so it is an expense to worry about when you might be working again or have additional income.

Depending on your situation, this might be an absolute financial emergency. So, defer an expense and deal with it when you have more income available. Likely, if governments are encouraging social distancing, these expenses will be deferred.