Most Canadians go about their day to day lives unaware of all the little holes in their financial boats…little amounts flowing outwards, not inwards that end up becoming very costly to their long term goal of financial freedom. Cable bills, Starbucks/Tim Hortons, cell phones, home phones, gas, insurance, it goes on and on. One area I think many really miss is the amount paid through your banking services…here is a great article on overdrafts:
In the end, it makes a lot of sense to do a sit down once a month and review where all of your funds are going…you will be in for a shock when you write it all down!
If you can reduce some of those and start diverting those funds to extra payments on your high rate debts, then your mortgage, you will be that much closer to your Mortgage Freedom Day!
Need help with it? Call us!
Michael Anthony Lloyd