Saving money in an economic recession is a little like trying to build a snowman in June. There’s not a lot of construction material to be found, and even if you can scrape a little snow together, there’s the risk your creation will just melt away.
“Saving 10 per cent of our gross income is considered ideal, but it can be a stretch at times,” says Chartered Accountant Peter D. Brown, principal of Peter Brown Inc. in Niagara Falls.