Secret | Mortgage Weekly | March 10th, 2018 | Jason Roy | Edmonton Mortgage Broker

All right #MortgageWeekly time So after 11 years of looking at bank statements and looking at people's applications I finally found out the secret the secret to allowing you to save up for a down payment quicker easier and/or if you own a home already the secret to allowing you to pay that home that mortgage off quicker and the secret is stop buying things that we don't need to be buying and stop subscribing to monthly things that we don't need to subscribe to and stop paying for things and wasting money on useless stuff

It's not that much of a secret really but it is a reality the people the applications that I see where people have managed to save up a larger down payment or the down payment at all or they are making extra payments to their mortgage you don't see a lot of wasteful stuff on the on the bank statements you don't see a lot of wasteful spending that way cutting back on some of the Starbucks trips and Tim Hortons and the monthly subscription to different accounts of things that you don't really need and don't really want and have no real use for but we've we subscribed to it the cable bills for TV that we don't really necessarily always need to be watching whatever it is and I'm not judging what you spend your money on but the reality is that you're spending money on things and we're not focusing on saving and we're not focusing on paying off debt and paying down debt and with interest rates continuing to go up and have gone up in the past few months this debt that we've all accumulated is something that's going to have to be taken care of at some point and I know it's not fun and it's not exciting and it's not enjoyable but the only way to get rid of it is it like chip away at it $50 dollars here $100 there $20 here and keep saving or keep paying down the debt by reducing your spending on some of the other extras some of the other things we don't need Life is expensive I get that but we all seem to spend them and myself included spend money on things that we don't have to be spending on so if you're trying to save up a down payment or you're trying to pay your mortgage off a little bit quicker or those lines that credits or those credit cards look at your bank statement and credit card statements say like do we need to be spending money on this is this something that even matters or it can be cut back on this can we cut back on some of our extra spending and and things that just keep adding up and over a year I think you would notice quite quite a difference by cutting those things out so anyway let me know your thoughts we have a good weekend hopefully spring is coming I'm not sure but hopefully and we'll talk to you next week bye

Source: Youtube

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