Five easy steps to reach your 2015 financial goals

THINK OUTSIDE THE BOX:  January is upon us!  Time to dig out from underneath the wrapping paper and get back to a healthier financial lifestyle!

The beginning of the year is a great time to do an annual financial review for you and your family to make sure you are still on track for your long term goals.  Whether it’s a European holiday or a big renovation or saving for a college fund, an annual review is crucial to helping you achieve your goals.
Here are 5 easy steps to help you get started.

  1. Make a list and check it twice – Start by making a list of all your assets and debts.  The debt list should include what you have left on your mortgage, credit card debt, auto loans.  The asset list should include the equity in your home, any other property or major assets you have, investments and RRSPs.
  2. Review your monthly income – Besides your salary, include any interests you are earning from your investments.
  3. Review your household expenses – These will include your groceries, gas, cable, hydro, property tax, strata fees, cellphone bills, car payments and home and auto insurance.
  4. Establish your goals – This is the time to dream big!  Once you know what your goals are, you can work backwards and get on the path to achieving what you want.  What kind of lifestyle do you want at retirement?  How much of a college fund do you want to establish for your kids?  Where do you want to go for a holiday in the next 5 years?  What kind of renovations do you want to do in your current home in the next 3 years?
  5. Talk to me – As a mortgage professional, I can help you with a big part of your overall financial goals.  I can help you consolidate your debt or open a line of credit.  Ask me any questions you have about your finances and I can help you get on the path to your short and long term goals.

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