Set Your House in Order

There are lots of cliches related to homes. Home is where the heart is, a man's (or woman's) home is his (or her) castle, home sweet home, there's no place like home, a house divided against itself cannot stand. A particularly relevant cliche right now is "set your house in order."

Canada is currently undergoing economic threats in the form of tariffs. A silver lining that could come out of this situation is the potential for us as a country to respond by setting our economic and financial house in order. By making responsible investments, passing smart legislation, and by encouraging & empowering Canadian businesses and Canadian citizens we may increase our prosperity as a nation in the long run. Hopefully!

The same maxims can be true for our own personal lives and businesses. When we go through challenges, stress or shocks it can force us to take a serious look at how we are running our households or our business. Taking control of what we can control in our lives.

When a household undergoes financial stress or anticipates a major life event or change, they may look to "set their house in order." This could involve reviewing and updating the following: household budget, insurance policies, wills & powers of attorney, finances & credit, and investments & savings. Setting your house in order can be a bit more literal. It may involve cleaning, decluttering, and making necessary repairs. Spending money on repairs & maintenance can be very prudent. An ounce of prevention is worth a pound of cure. Some of these tasks will result in tangible results like an increase in monthly savings by cutting unnecessary spending from a budget. During times of stress some of these tasks will help psychologically by increasing the feeling of control. Many "house setting" tasks will have both a tangible benefit and a psychological benefit. Another good way to take control is by intentionally unplugging from the news & media. We can't control international affairs, so as much as we want to be informed, it is healthy to take frequent breaks from the news. Playing with your kids, pets, reading a good book, watching a favourite show, and getting exercise are all healthy ways to look after yourself. Set your house in order by doing the things that make you feel good.

Similarly a business will set their house in order when they are undergoing threats or challenges. They may review their budget, cut what they perceive as wasteful, and prioritize efforts that are producing measurable results. A business person may decide during times of heightened threats that expansion is not appropriate, and instead may double down on their core competency ie their "bread and butter."

Economic uncertainty is brutal. But hopefully as a nation this is an opportunity to grow stronger in the long run. Maybe it serves as a good reminder for all of us to "set our houses (professional & personal) in order." Lets get organized & focus on what makes us successful (however you define that)! If you know anyone that could benefit from our services we always appreciate referrals from like minded friends & clients! Cheers Joe, Doug & Randal