How to Rid Yourself of High Interest Debt

Are you in need of a spring financial tune-up from the holiday bills that still aren’t paid off?  I can help you to kick start your spring with a plan to minimize your monthly expenses and your interest carrying costs by conducting a no-cost, no obligation financial check-up.

As an example, please see before and after scenarios for clients that took steps to rid themselves of high interest debt, and their result was a monthly savings of $1670 and an ability to reduce their mortgage amortization by 10 years.

BEFORE         Balance      Payment        AFTER   Balance         Payment

Mortgage       $250K        $1390                                 $300K         $1434

Car Loan         $15K          $439

Credit Cards   $25K         $750

RSP Loan         $10K         $525

You can use these savings to ease your monthly cash flow, and/or apply it to pay your mortgage down faster! For example, by putting $800 of the $1670 of the new cash flow savings against the mortgage, you can reduce the amortization by 10 years and save almost $40,000 in interest over the mortgage term.

I also have access to low rate Visa Cards with initial rates as low as 4.9% and ongoing rates as low as 9.9%. These visa cards are specifically designed to help you minimize your interest costs if a new mortgage advance cannot completely payout the higher interest debt.

Start the spring right with a no cost, no obligation financial check-up with me today.  1.877.336.3545 or DonnaL@dominionlending.ca.