Tagfinances

Stop Bleeding Cash: Why Your Mortgage is the Ultimate Financial Power Tool

Let’s have an honest conversation about the financial squeeze many Canadians are feeling right now.

Prices are up at the pump, at the grocery store, and certainly in utility bills. But for many homeowners, the real pressure isn’t just inflation; it’s the “silent killer” of accumulated consumer debt sitting on top of their mortgage.

I see it every day in my practice. Good people, with good incomes, who have managed to build significant equity in their homes, yet they are drowning in monthly payments because they are financing their lives using the wrong tools. They are using 19.99% credit cards and 11% lines of credit for expenses that should be financed at 4-5%.

It makes absolutely no financial sense.

Posted June 21, 20221 Comment Consumer Debt

Death, Taxes, and Interest Payments: Part 1

“Nothing in this world is certain except death and taxes.”

Benjamin Franklin said this in 1789, and it’s just as true now as it was then. There’s just one thing I’d add given that the world has changed quite a bit since the 18th century: interest payments. Maybe not as certain, but just as stressful. If I could revise the quote now, I’d make it:

“Paying interest and taxes will be the death of us.”

Posted January 26, 2021 Mortgage News

New Year New Outlook

2020… It will be known as the year of the pandemic. It will also be known as a year of a record-setting real estate market. We saw records for volume of sales and new high prices in many cities across Canada. To say there was a lot going on is an understatement. I have to admit I was happy to close my office and give everyone the week off between Christmas and New Year’s.

Posted December 11, 2020 Debt

Finance Series – Part Two: Financial Literacy

I know it might seem strange to look at what financial literacy means in the second post of a financial series and not the first, but sometimes, with every step forward we need to take a step back and look at the bigger picture. This is more true in finance than anywhere. So what better way to do that than to break it down now.

Posted December 3, 2020 Finance

Finance Series – Part One: An emergency fund

If this year has taught us anything, it’s just how important an emergency fund is. An emergency fund, also known as a contingency fund, is money you set aside to pay for unexpected expenses. The reality is, most of us will likely have to deal with a financial emergency at some point in our lifetime.

Here are a few tips for getting started with an emergency fund.