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Current Articles
Sue Berard
Executive Sales Director
Fighting Family Debt
Fighting family debt?
I’ll help you smile at the end of the month.
You wouldn’t believe the number of area families who are losing sleep over their debt loads. And it’s not a small problem. In fact, it’s over 80% according to the Vanier Institute of the Family - www.vifamily.ca.
The facts are scary: we now spend $1.31 for every after-tax dollar earned and we’re “putting nothing away for a rainy day, for a bout of unemployment or for retirement.”
For too many families it sure is hard to smile at the end of the month. *(The Vanier Institute of the Family, “The Current State of Canadian Family Finances 2006 Report”).
So, when I explain to potential clients that my company is the only Canadian company founded specifically to help these families regain control of their financial futures, the response is usually, “Wow! I’m very interested.” I then explain that the objective of Debt Freedom Canada is to educate Canadians on how to manage their hard-earned money in a business-like manner. Simply put, the company’s mission is to help every client eliminate debt, build wealth and live life. “So how can you help my family?” you ask. I sit down at your kitchen table and complete a Financial Needs Analysis. The FNA is a comprehensive document that identifies everything in your family’s financial picture, from debts to dreams. I then prepare a full, customized, financial plan covering such key elements as debt elimination, children’s education plans, security, retirement planning and the best way to fulfill your financial dreams. This plan allows you to regain financial control of your family’s future - and it explains why our clients are so satisfied with our work. Here’s what one woman had to say:
“Don and I have been married for 30 years and have two adult girls. I work with a federal agency and Don is a transport driver. Despite both being hard workers and making about $80,000 a year, we were always robbing Peter to pay Paul. I dreaded the next mail delivery and started feeling desperate as our debt climbed over $220,000 including our mortgage of almost $170,000. You can imagine the relief we felt, after sitting down with our Associate, to learn that we will immediately start saving over $1,500 a month in unnecessary interest payments, will pay off the new mortgage 4.3 years ahead of schedule and can now start our first ever retirement project (we want to build a green house.) In a nutshell, the big dread has disappeared, and we’re totally confident about our future. I’m thinking seriously of joining Debt Freedom, so I can help other families as much as they have helped me. ”
To find out more information on directly participating in designing a personal financial plan, please call for more information.
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What if?... Watch this short presentation to find out more about how Debt Freedom can help you get out of debt and start living your life. |
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A Reminder of Home President and CEO of Debt Freedom, John Podlewski, sent a little something as a reminder of home and as a message of thanks to our soldiers fighting in Afganistan. |
- 1. Prepare a financial plan. It’s like a road map of where you are now and where you want to be. If you can't do it, find a profession advisor.
- 2. Ensure you don’t spend more than 80% of your credit limit. Even if you pay on time, it lowers your score. Three properly-used credit cards will establish your credit worthiness, although one credit card may see to be all you need.
- 3. Weekly or bi-weekly mortgage payments, in the long run, will save you more interest payments over the monthly payments, i.e 4.5 years in savings on a 25-year mortgage.
- 4. Pay with cash. But if you’re looking for credit, research the field to find the lowest interest rate and how it’s calculated.
- 5. Be sure it’s a need not a want. You can probably live without it.
