Decision-making of any sort can be difficult to do in a period of grief, let alone decisions related to money, experts say. That’s why they recommend taking time before making any big financial decisions while grieving.
At the time, they were in their mid-20s and living in Paris with their one-year-old child and then-partner, while their mother was living in Vancouver.“I think I woke up one morning and I got the news and the rest is kind of a blur. I flew back and it was one of the hardest flights I’ve ever taken.
If your money is going to run out sooner than later, McCullough said you should figure out how you’re going to make ends meet. Taking bereavement leave could be an option available to you. Beware of anyone who may try to sell you products or services when you’re in a vulnerable state, she added.Sandra Fry, a credit counsellor with the non-profit Credit Counselling Society, agreed that you shouldn’t jump into any financial decisions when you’re experiencing grief.If you find yourself unable to handle urgent tasks like paying rent or mortgage payments, don’t be afraid to lean on someone you trust, said Fry.
“The only debts that survive are joint debts, or debts that are secured to an asset like a car or house,” she said.
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