Archives for April 2015

4 Tips to Avoid a Call from a Collection Agency

If you find it difficult to sleep because of debt problems, then here are a few tips to help you reduce your debt load. Learning to cut back and still live well while staying within your budget, is really the best way to eliminate your debt. Reducing your debt before things get too out of hand will also save money in excessive interest payments to the collection agencies. Living within budget may not be the most fun lifestyle, but it is certainly a financially sensible one. Plus it will allow you to sleep well at night and if you put your mind to it you can still enjoy life without spending a fortune.

Financial Freedom: What you Need to Know About Your Mortgage

Buying a house is probably one of the biggest decisions you will make, so it’s important to understand what you’re getting into. Suppose you live in British Columbia and have spoken to a custom home builder in Vancouver and you have determined the cost of your dream home. Some builders work with specific banks to help arrange your mortgage while others leave finding the mortgage up to you.

Although it may seem easier to go with the mortgage provided by the builder, you have to look carefully at the terms of the proposed mortgage. This is probably the largest purchase of your life so don’t be afraid to ask your builder and/or mortgage broker questions before you sign on the dotted line. Often the builder will “get a cut” which may increase the cost of your mortgage by 1% or more, which could add up to thousands of dollars over the life of the mortgage, so it pays to compare. A few minutes of diligence could result in the highest paid moments of your life! If you know what you’re looking at and have a good understanding of your mortgage contract, you will avoid making a costly mistake.

What to Do if You Get a “Windfall”

Everyone has dreamed of getting a “windfall” of some sort at one time or another. At first, getting a lot of money can feel like a tremendous boon. But, without the right money management skills many people find that their settlements become exhausted far too quickly.