Committed?
Are you or should you be? To your goals that is. This hit me when one of my friends from the gym saw me today and commented that I must not be committed as I did not make it in for my regular workout time of 05h30 yesterday. My excuse was that one of our kids was up a few times over night. However excuses be gone, come hell or high water I will certainly be there for tomorrow.
When you think about it, are you committed to the successful attainment of your goals? If you are not, or worse if you don’t have your goals written down ( shame on you if that is the case) then you are just breathing and not really living.
If getting out of debt is your goal. Then you should write your goal like this, ” I am making X per month or year” rather than ” I am paying off my debt”. When you include what you do not want in your goals, you end of thinking of what you do not want. See your self as already having acheived your goal, feel it and live it.
Want help in creating your plan? Then feel free to give me a call, I would be glad to help you.
Cheers,
Stumble it!I owe, I owe
So as the dwarves in Snow White say “It’s off to work I go”. Below is a great article from The Vancouver Sun, talking about our ever increasing debt load. In fact, that is the number one reason that the finance department reacted with changes to mortgage financing yesterday. As always feel free to contact me if you have any questions.
Cheers,
Pat
Our debt-to-income ratio hits an all-time high
Although the recession may technically be over in Canada, many households sank even further into debt in 2009, creating the highest debt-to-income ratio ever in Canada, according to the Vanier Institute’s annual assessment report, released Tuesday.
Rules, Rules, Rules
“Today’s measures are part of a larger picture. We will continue to closely monitor developments in the housing sector in Canada,” said Flaherty at a news conference in Ottawa.
“There is no compelling evidence of a housing bubble, but we’re taking proactive, prudent, measured and cautious steps today to help prevent a housing bubble.”
Changes to Canada’s mortgage insurance guarantee framework that come into effect on April 19 include the requirement that borrowers will need to qualify for a five-year fixed-rate mortgage even if they go with a lower variable rate.
The government will also lower maximum amounts that can be withdrawn when borrowers refinancing mortgages. And it will require a minimum downpayment of 20 percent for insured mortgages tied to non-owner occupied properties bought for speculation.
Flaherty described the housing market as “healthy and stable” and said that the government’s early action can help prevent negative trends from happening.
The government has been concerned that some borrowers who are taking out variable-rate mortgages will struggle with their monthly payments when interest rates rise.
Bank of Montreal, while noting it did not believe the country faced a housing bubble, said it supported the government’s actions.
