Find Great Tips &
Strategies Here that the
Banks Won’t Tell You
Accelerate your Debt Payoff
Accelerated Debt Payoff
- Current: 31 months
- Consolidated: 60 months
In spite of what the banks tell you, you don't need a car loan and an RRSP loan and a line of credit to cover your consumer debt. Multiple loans just complicate your life. It makes it harder for you to manage payments and to make sure you are getting the best interest rate.
A single source for all your debt simplifies your payment strategy, and can give you the lowest possible rate.
People who lend you money need assurance that they will be paid back. The simplest way is to offer "collateral". Collateral will act as security against the loan, which reduces the lenders risk, and reduces your interest rate.
There are specialty loan providers who buy from a variety of sources, and can offer you lower rates. Because your home makes you a safe risk, these loans can be arranged quickly and with little hassle.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.
One time worn practice of many Canadians is to keep $10,000 or so in a savings account for emergencies. This is a remnant of the ancient practice of keeping cash under a mattress. Actually, savings accounts don't pay much more than mattresses - maybe 3% if you're lucky.