Blog Category: Saving Tips

• 10 Ways to Avoid The Holiday Debt Hangover - The festive season should be about fun and family, not financial stress, so avoiding holiday debt is important. We all love the magic of the holidays – buying gifts, enjoying big meals, and doing fun stuff like ice skating or skiing. But let’s be real: it’s super easy to go overboard and end up with ...
• Your Guide To Eliminating Credit Card Debt - Having a credit card in today’s world seems inevitable when so many services and sales are often only available to a card holder online. Used responsibly, credit cards can be a beneficial financial tool. But while credit cards can offer rewards and cash back on everyday purchases, taking advantage of these perks hinges on your ...
• What Is An Equity Take-Out Mortgage? - If you’re like many Canadian homeowners at the moment, you’re likely looking for different ways to increase your monthly cash flow and how to pay down your debts. Maybe you want to finish paying off your existing mortgage, you want to move into a larger home, or you just want to feel a little more ...
• 8 Ways To Stay Out Of Debt This Holiday Season - It’s the most wonderful time of the year, the time for holiday cheer! Put those increasing interest rates behind you and think about the magical time this holiday season brings us, gathering with friends and family. Perhaps those rising interest rates and inflation costs are not what you were hoping to receive in your stocking ...
• 9 Money Saving Tips To Get That Down Payment - Are you having a difficult time-saving money? Perhaps you’re looking to save a down payment for a house, or you want a bit of a nest egg for emergencies? Whichever the case, these tips will help you cut down on your spending. Remember: every little bit helps! If you cut out one splurge every week, ...
• What Does It Mean To Consolidate Your Debt? - No one likes to hear the word “debt.” Debt can be daunting and keep you up at night. But I’m here to tell you that, if you follow my advice, the word won’t be as scary as you think. By investing your money and paying your bills on time, debt has benefits like improving your ...
• 8 Secrets To Paying Off Your Mortgage Faster - Wouldn’t it be nice to know that you don’t have to pay your mortgage anymore?! You could save all that money and put it towards your retirement or that vacation you’ve been dreaming of. It’s easy to let money stress you out and get you down. However, if you invest some time and effort, you ...
• Should You Use Your Inheritance Towards Your Mortgage? - Sometimes it’s hard to “look on the bright side” in every situation especially when a loved one dies. Death is the hardest thing humans have to internalize. After all the funeral and estate fees, you may be chosen as a recipient of money from the deceased’s estate. When you receive an inheritance, it’s essentially free ...
• Using Your Mortgage to Pay Down Debt and Increase Cash Flow - On the surface, your mortgage may be a long-term investment or a way to save for your future. But a mortgage is more than what meets the eye. Even though a mortgage is itself a loan, similar to other types of debt, it can actually provide you with the opportunity to save money and can ...
• Home equity from your mortgage – when is a good time to use it? - As a homeowner, you already know that one of the many benefits of owning a property is getting to build equity. Home equity is the difference between the value of your home and how much you owe on your mortgage. Or, in other words, it’s the portion of your home or mortgage that’s been paid ...
• New year, new financial success - It’s a brand-new year, which means it’s time for a new you! What better way to improve yourself for the new year by evaluating and improving your finances? 2020 was a very different year for many of us – and maybe your finances aren’t looking quite the way you’d expected. But now that you’re better ...
• RESPs…For Christmas? - The holidays are upon us. Which means it’s time to start wrapping up our Christmas shopping, finish decorating the tree, and getting ready for the annual Christmas feast (which may look a little smaller this year with safety guidelines). But do you know what the best gift to give your child is? The gift of ...
• 3 Ways To Avoid The Holiday Debt Crunch This Year - The joys of the holidays are fast approaching. The lights, the decorations, the Christmas cheer …and of course – the holiday debt. Money is a big stressor for many of us during the holidays, especially this year with the COVID-19 pandemic, your wallet may be looking a little bit lighter than usual. Your finances don’t ...
• 5 things to think about before upgrading to a larger home - There’s a lot to think about when buying a new home. Whether you’re still living in the first home you bought or you’re an investment property pro, each house you buy is a major investment that needs to be thought through very carefully. Particularly when you’re about to purchase a larger property, there are going ...
• How to Keep Your Home In a Divorce. - It’s a common debate between a married couple getting a divorce: who gets to keep the house? However, the question you should be asking yourself is: who can afford the house on their own? A divorce is an extremely emotional process where sometimes our feelings can mask our better judgement. Many of us have emotional ...
• 5 Tips to Improve Your Credit Score - Your credit score can make or break your real estate dreams as a first time home buyer. Especially with the stress test looming overhead while you’re scrambling to get your savings together for a down payment. Mortgage lenders always will review your credit score before pre-approving you for a mortgage for a few reasons. So ...
• What are the penalties if I break my mortgage? - The Bank of Canada has announced many dips in interest rates over the past few months, so I thought it timely that we talk about the penalties of breaking a mortgage as I’ve had clients asking me recently if it makes sense for them to break their mortgage to take advantage of lower interest rates. ...
• Dealing with Debt, your mortgage & COVID-19: for the self-employed - Looking back at February in 2020, many self-employed individuals and business owners had no idea their world would change come March 15 onward. COVID-19 has had a vast impact on business owners and support from the government has been tough to navigate on many levels from an HR perspective, an operating standing point and cash ...
• Should You Break-Up with Your Mortgage? - It’s not you, it’s your mortgage. Just because you’ve agreed on a mortgage contract, doesn’t necessarily mean it’s set in stone. There are several reasons why you may be reconsidering your mortgage. Perhaps you’ve had a major change in your financial situation or maybe you’re interested in buying a new house. Or it could be ...
• Think Before You Spend – Managing Your Inheritance - You’ve just inherited a large amount of money. Inheritances can create excellent opportunities for you depending on how much you received. For some people, the immediate thought is to spend that money right away. However, inheritances can have great financial impacts for you if you treat them carefully. Normally with an inheritance, it involves a ...
• Financial Planning of RRSPs, and Why You Should Care - There’s an acronym that keeps popping up recently: RRSP. Unsure of what an RRSP is and how they can help you when buying your first home? Well, you’ve come to the right place. Here’s a quick crash course on RRSPs and how they can make a huge impact on your financial planning strategy. What is ...
• New Year, New Financial Success - Many people make resolutions each year to get organized, eat healthy or exercise more. While those are all great pursuits, it’s also important to get your finances in order and work towards the goal of achieving more positive results where your money and lifestyle is concerned. More and more Canadians are getting deeper into debt, ...
• Top Tips to Keep Out of Debt this Holiday Season - There’s a lot of pressure every holiday season to spend, spend, spend! From gifts for friends, family and coworkers, to decorations, dinners and parties; the money just flies out of the wallet! While it’s definitely challenging to stick to financial goals and avoid going deeper into debt this time of year, there are ways to ...
• How to Stick to Your Budget While Making Great Summer Memories - Summer is such a special time – especially after the long winters we tend have here in Simcoe County. For anyone who’s been trying to focus on reducing debt or saving up to buy a home, the temptation to spend money during these precious warm months can really put a damper on those financial goals. ...
• Easy Ways to Save Money & Reach Financial Goals - As a new year creeps up on us, we often find ourselves thinking about resolutions and goals we want to set. Resolutions are all about striving for success – whether it’s related to our health, fitness, careers, personal goals or finances. In this line of work, I talk to a lot of folks who are ...
• Does It Really Make Sense to Consolidate My Debt? - Dealing with debt is kind of a drag. It’s also pretty common. In fact, recent stats show that quite a few Canadians are struggling to manage the debt they owe, with the average, non-mortgage amount of household debt sitting at approximately $20, 000. There is some good news when it comes to consumer debt, however. ...
• 5 Ways to Make Managing Your Money Easier - Paying those bills on time, keeping spending in check, steering clear of debt, and working towards your future financial goals – managing your money is certainly no easy feat! Throw in a few acronyms like TFSA, RRSP, RESP and it can be darn right confusing! You may be surprised to learn that managing your money ...
• 5 Great Tips for A Debt Free Holiday Season - Consumer debt. If you don’t carry even just a little bit of it, you are certainly not the norm. Recent stats show the average debt-to-income ratio for Canadians is currently sitting at $1.69, meaning that for every dollar we earn, a lot of us own $1.69. Although managing debt can be tricky at any time ...