Tis the season – of debt.

With the holiday season upon us, our credit cards are starting to take a beating.  For a lot of us, this time of year puts a strain on our finances.  Unfortunately, there is pressure to find the perfect gift for everyone and create a memorable holiday and this often leads to overspending.  As this illustration from Manulife points out, every generation has an issue with debt.

There are tools that can help.  The government of Canada has a great budgeting tool.  This video gives a short explanation of how it works:

The budget planner can be found here: Budget planner tool

If you are serious about reducing your debit, it might be helpful to look at your bank account.  Did you know that if you are a homeowner, there is a bank product that applies every penny you deposit toward reducing what you owe?  In addition, you still have access to that money when there is an unforeseen expense.

This short video explains how Manulife One works:

I hope these tools help & inspire you to take control of your finances.  If you want to discuss or know more about Manulife One, contact me right away.  The longer you wait, the more money you will lose servicing your debt.  That’s a Christmas present the banks love.

Have a great Christmas and New Year!