Have I got your Interest?

Well if I have not then I should, that’s because the Bank of Canada today announced that they will leave the key lending rate basically unchanged at .25%. However that is not the best part, the kicker is that they say that they will not touch the rate until mid next year. That is provided we do not have any unforeseen increases in inflation.  At this point you may be asking yourself, what’s in it for me? Well here it is, lower costs of borrowing, on things like secured and unsecured lines of credit, variable rate mortgages and any other loan that may be linked to the prime lending rate.

So what do you do now? Well given this news there is no better time than the present to take a look at your current financial situation and see if there could be room for improvement. By combining you high interest loans into one low interest loan you will lower your current monthly payments, cut your cost of borrowing and if done correctly can also be a way to achieve debt freedom much more quickly.

If you would like a free no obligation debt analysis, then feel free to contact my office. I will provide you with a simple form to fill out where can get a better idea of where your finances are right now and show you how to create a brighter financial future for yourself. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Reality Distortion field

Ok I have to admit that I was inspired by or influenced by today’s Apple press conference to write this blog post. For those who don’t know I am a serious Mac head. The term “Reality Distortion Field” is used to describe being in the presence of Apple’s CEO Steve Jobs. Because of his charisma or his strong belief’s people look at things differently after being in his presence.

However the reason that I am using that term is to ask you if you are suffering from a distorted reality in some area of your life? For example I told my wife for years that I was 6 foot, I knew I wasn’t and she believed me until one day she decided to measure me and found out for herself that I am only 5 “11. So it makes me feel better to say that I am 6 foot but it just does not happen to be true. Another example is I thought I was in pretty decent physical condition, I have been working out for years, and just recently I started doing the Crossfit workout. Talk about a serious blow to my ego and a major reality adjustment after I could not complete several of the workouts as prescribed.

For the sake of this article let’s turn the focus on your financial reality. Do you tell yourself and or others that you are good with money? When in-fact you spend more than you make, are behind in your bills, and spend money to appear more successful than you actually are. If this is the case you may be in the need of a serious reality adjustment. Before it gets to the point of an intervention, now may be the best time to sit down and do a thorough analysis of your financial situation. You should sit down and figure out what your monthly expenses really are, and also get in-touch with your actual monthly income. Sometimes this practice alone with help people get an understanding of their financial reality. If you think that you may need help with the process, then please feel free to contact my office at your earliest convenience. I can also put you in contact with a great financial advisor in my friend Steve Cox. Once your debts are under control, Steve can help you develop a plan to insure your financial future is a future that you can look enjoy. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

P.S- Steve I am glad that you are back!

Is it the end?

…. or a new beginning? It all depends on how you look at it. Whether it be divorce, bankruptcy or loss of employment, it does not always mean that the sky is falling and the worst has happened to you.  Some view these major life changing events as a reason to change their life for the better and this could apply to you as well. I remember back in February of 2002, I was made redundant ( laid off, downsized, eliminate and voted off) from a company that I worked at for over 7 years. I was disappointed  but not devastated. I took that opportunity to get into something that I really enjoyed, something that I could get exponential return for the effort that I put into it, I started my own business, and have never looked back.

I know as hard as it may be when these events are happening to see the bright side, it takes time but there always is one. It even took me several months to get myself going in the right direction. What I had going for me at the time is that I had a goal in mind and was very clear about my objective.

If one of your goals are to start and operate you own business, then congratulations on making that decision. You have made the 1st step in the right direction. You should realize that there are lots of resources at your disposal. There are experts who can help you with your business planning, commercial leasing agents to help you locate the right spot for your business, and if needed we can help you secure financing to insure the future success of your venture.  Feel free to give my office a call, I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Half assed?

Or complete ass? Unfortunately that is how most people approach the majority of the tasks that they do on a day in day out basis. At the end of the day the only person who you are really accountable to is yourself. Ask yourself how you think you really did? Did you give it your 100%, a half assed effort or were you just a complete ass about your responsibilities. If you are not happy with your current results, you only have to look back to the effort that you put into the task that you did.

Begin tomorrow with the end in mind. With that I mean, remain focused on your stated goal or outcome. Having a clear image of where you want to go is the 1st step. Next you must take massive action to make sure that you get going in the right direction. For example, if your goal is to improve your level of fitness, then sleeping through your workout is not the best way to start the day. Give each chosen (yes I said chosen because we are all given the ability to decide) task your full out 100% honest effort.

Also be flexible in your approach, notice what is working or not and keep changing till you find what works. Lastly stick to it until you reach your goal. These can also be applied to the goal of improving your personal financial situation. Sit down, take stock of where you are right now (know your income and expenses). See if there is opportunities to improve both. Decide where you want to go, income, expenses, trips, toys etc. Take massive action right away and notice what is working or not and keep going until you reach your objective. If you find that you need some help along the way, feel free and contact my office. I look forward to hearing from you.

Cheers,

Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.

Walk your talk!

Walk your talk!

It’s all too easy to give advice, and much harder to live by it. We have all seen or heard about the out of shape personal trainers, broke financial planners or the struggling life coaches who just happen to be at the end of their rope. Tony Robbins says that “repetition is the mother of all skill”, and Malcolm Gladwell in his great book “Outliers” says that it takes roughly 10K hours to truly master a skill or profession. I find that if I read it, then I hear it, I teach it, then I know it.

I am not the best mortgage broker out there, but I have learned a thing or two over the past 7 years. Writing and researching these blog posts has allowed me to hone my skills and to pay closer attention to my own financial decisions. Some say ” those who can do, and those who can’t teach”, well I would like to add something to that by saying that the truly great do and teach or at least share their knowledge.   Where would we be as a society if we had to learn it all over again with each successive generation. We would probably still be living in caves, and hitting each other over the head with rocks and sticks.

Knowledge is meant to be shared. I find that with each idea that is shared, 10 more great ones come back to me. if you have found any of my articles helpful then I would be extremely pleased, if you have anything to add or to share please feel free to comment. I look forward to hearing from you.

Cheers,

Pat

We regret to inform you

That you did not get that job, have not been accepted at XYZ University or did not qualify for the loan. My older brother called these PFO letters and for good reason.  Thinking back they mattered so much because you had no plan B. What would you do if you did not get that job, get that loan, or if your child was accepted at the university and does not have a student loan and you have nothing saved up to send them . Do you  have a slush fund, 60-90 days of income put away that would allow you to live? Are you asset rich, but cash poor, or just struggling to get by? Either way there is a solution and there is no time like the present to do something about it.

Stop walking around looking at your feet! Set your eyes on a goal toward the horizon and go for it. It’s too easy to get caught up in living day to day that we forget to plan ahead. However before you know it, you are nearing retirement with nothing saved to support yourself in your golden years. What do you do then, live off family or the government? The vast majority are either dead broke or dead once they reach 65, and to me that does not sound all that appealing. Take the time now before it’s too late. Design your ideal future.
I would suggest that you contact my friend Steve Cox a certified financial planner who can help you develop your road map to get you where you want to go. Once you have that we can sit down, if you need to, and help you restructure your debts so you can eliminate them more quickly and get on the fast track to building true wealth and financial freedom. I look forward to hearing from you.
Cheers,
Pat

p.s- You can find me on Twitter,Linkedin, Facebookand friendfeed.