I see them every day: good, hardworking people with budgets that are stretched to the limit trying to balance the increasing costs of living with creating the best life possible for their families. They come from all walks of life, often overwhelmed and not knowing if they’re doing enough to one day get out of debt and prepare for a comfortable retirement. With interest rates at historic lows, they may have qualified for a large mortgage – and with all the associated costs around housing, their budget is pushed to the max. Or, they may have refinanced a few times, but to keep their payments low the length of their mortgage was extended – meaning they now face a retirement with mortgage payments.
Debt and retirement are the two biggest challenges facing Canadians today, and The Debt-Free Lifestyle was written to show Canadians how to get out from under their debt load, pay off the mortgage sooner, saving money in interest that can now go into their own pockets for retirement.
The Debt-Free Lifestyle shows you how interest rates impact affordability and what that means for your mortgage payment. You will also learn:
• How to build a lifestyle you love with your Big Decisions and Budget Decisions – that will allow you to save for the future and prepare for a comfortable retirement.
• The Simple Budget: a 15 minute exercise to use every time you get paid to keep your finances on track.
• When interest rates rise, your mortgage payment can increase. Depending on the size of your mortgage, and the term you have when they do, this could add hundreds of dollars to your monthly payment over the mortgage’s twenty-five year lifetime. Take steps to protect your pocketbook against increasing costs.
• How the very structure of your mortgage can work for you, potentially saving you thousands of dollars in interest costs and time. Then when you finish your mortgage early, you can redirect the money that had been going to your mortgage into your savings for retirement – supercharging the amount you are able to save.
Whether you’re planning on buying a home, having an existing mortgage, or are wanting to retire, but are not sure if you can, The Debt-Free Lifestyle was written for you.
Imagine what it would be like to be debt-free:The freedom to choose how to live and where to work. But with the cost of living increasing and house prices at record highs, this may feel like an impossible dream.
All too often, we buy homes that saddle us with 25 years of mortgage debt, making it extremely difficult to save enough money for our retirement or enjoy a debt-free life. It doesn’t have to be that way. The Debt-Free Lifestyle shows you how to manage your finances so that you can reduce your debt as quickly as possible and achieve your financial goals.
Christine Conway, a partner at Braun Financial Services, has done it herself. Beginning with a family income of $78,000, she and her husband have put over $150,000 toward their debt in six years—in the rich housing market of Metro Vancouver. Now they’re on track to being completely debt-free in their thirties. This book will show you how you can do it, too.
