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Financial comfort and joy!

Posted on: 2019-11-28

Financial comfort and joy!

It’s the most wonderful time of the year! And, it’s also the busiest. It can be difficult to get through the holiday season without at least some level of increased stress.  If financial stress is something you are concerned about, then add something new to your holiday to-do list this year - a holiday debt-check!

Why think about debt just when you’re getting excited about the holidays? Well… that excitement is the reason you want to have a cool, intelligent appraisal of your financial situation. It’s tempting to overspend at this time of year. That’s why so many Canadians suffer from “plastic shock” when their credit card bills arrive in January.

Do a quick assessment. Are you carrying too much credit card or other high interest debt that is eating up too much cash flow? If the answer is “yes,” it’s worth having a conversation about streamlining your finances. You don’t have to wait until your January bills arrive, you can do a debt check before the holidays are fully upon us.

I have access to some great rates and can help set you up with a smart plan with sensible payments, and smooth sailing through the hectic holidays and into the new year.

Worried that your locked-in mortgage means your options are limited? I can do an assessment to determine if the savings each month will far outweigh any penalties. Here’s one client example:

Joe’s and Gina’s mortgage, car loan and credit cards totalled $300,000. Since they had enough equity in their home (minimum 20% required), I helped them roll that debt into a new $304,000 mortgage. Even though they paid a fee to break the existing mortgage, the payoff was considerable:


                                                                        Current                           NEW

                                          Today        Monthly Payments*     Monthly Payment*

Mortgage                         $250,000                $1,195                             $1,453

Car loan                           $  25,000                $   495                             $       0

All credit cards                $  25,000                $   655                             $       0

Total                                                               $2,345                             $1,453

That’s $892 less each month - a huge improvement in cash flow! Joe and Gina are planning to put tax returns and holiday bonuses against their mortgage principal – and they’ll be out of debt well before their original timeline – with some real peace of mind about their finances.


While refinancing is not an option for everyone, I have access to other financing options that can help. If you can benefit from this kind of financial restructuring, get in touch. I love to help at this time of year. Financial comfort and joy: that could be one of your best gifts!

  *3.09% current and new mortgage, 25 year am. Credit cards 19.5% and car loan 7%, both at 5 year am. OAC. Subject to change. For illustration purposes only.


Thank you for your support during 2019!

It’s been a phenomenal year of learning, growth and accomplishments. I have so enjoyed working with my fabulous clients, and meeting many new friends thanks to your referrals.  Looking forward to another successful year in 2020! Thank you for your confidence and trust.

Source: InvisMI

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