Jan 14, 2020
I just read an article that said Canadians spend more money on Christmas than they pay in rent! It seems many people overspend at Christmas and it’s even easier than before with all the online shopping options available.
With the high cost of holiday gift-buying and entertaining now behind you, this may be the perfect time to get the New Year off to a fresh start by refinancing your mortgage and freeing up some money to pay off that high-interest credit card debt. Using your equity to pay off high-interest debt can put more money in your bank account each month and save you thousands in interest. By refinancing now and paying off your debt, you can put yourself and your family in a better financial position.
It’s very important to not rack up your credit cards after refinancing, however, so set your goals and budgets, and stick to them!