Tag Archive for: debt free

Fix your Variable

Most people like the fixed mortgages for peace of mind it gives them knowing that their payments will be the same every month. Those who go variable or adjustable rate mortgage like that they paying less than those on fixed rates 9 times out of 10. However there is a way to give you both the peace of mind of knowing that your payments will not change while still staying on a variable rate mortgage.

To do this simply contact your lender after your mortgage closes and request to increase your payment. Depending on the lender they will allow you to increase it by as little as $100 per payment or up to 20% of your principal amount. So for example say that your mortgage payment was $1000/month as set by the lender. This payment includes principal and interest. Because you’re so smart you have requested to increase your monthly payment by $200 to $1200/month. This means that your extra $200 per month works out to $2400 a year or $12,000 over 5 years that goes straight towards to principal balance of your mortgage.

This will allow you to become mortgage free faster, and who doesn’t want to do that. You see mortgage are just a tool to help you get into your first home or your dream home. You shouldn’t have one forever. Make extra payments and pay it off sooner.

I look forward to hearing from you in regards to your mortgage needs.

Pat

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

1% Better

When most people go to change they go at it thinking and wanting massive change. They want to double their income, lose 50+ pounds, run a marathon or create the next hot app. We live in an instant gratification society and we want results yesterday. We are so impatient.

We need to just slow down and take it step by step. Being a founding member of the impatient society I have had to learn this the hard way. Daily meditation with the help of the Headspace app has really helped.

Another way to look at it is asking yourself what could you do today that could bring you 1% closer to your goal. When you think about it 1% done everyday adds up quickly and adds up to a lot.

If you want to get to 100 push-ups, start with 10 today and add one a day. I have done this and it’s easier said than done but your strength builds quickly.

If you are in sales, then one more presentation, meeting or cold call. Do something today that you can build on tomorrow.

If you want to get out of debt, you can start by paying your bills on time. Then $5 or $10 more than the minimum payment. Then once one credit card is paid off, us the snowball method and apply those savings to the next bill till you’re paid off.

If you focus on small incremental improvements every day, pretty soon you have made some massive changes.

Start with a 400M run, a bit extra on your credit cards, 10 minutes of reading, a healthy meal, an extra cold call or counting 5 breaths for you to relax. We all have to start somewhere so start small and just build on it.

Make it a great day.

Cheers,

Pat

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

Bite Me!

Yea you heard that right, bite me. That is what you would like to say to your creditors. I imagine if you won the lottery you would say that to most people then move off to some exotic tropical island. However since this is probably not the case, you are most likely resigned to just mumble it under your breath.

With proper planning that day may come sooner rather than later. There is no better time than the present to get a handle on your finances. Sit down and make a list of all your income and outgoing expenses. Do you have anything left at the end of the month, or is it all going to service debt and pay your bills. How would you like to lower your overall cost of borrowing and possibly lower your debt service payments. All while showing you how to pay off your debt quicker and get you on a plan to build financial freedom.

If this appeals to you, please feel free to contact me so we can see how to improve your current situation. If not, keep buying lotto tickets and hope that tomorrow may be your day to tell someone to “Bite Me”.

Cheers,

Pat

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