By Multi-Prêts Hypothèques
Recently, TVA revealed the results of a study on Canadian consumers: Cost of living: 30% of Canadians are considering reducing their expenses in 2024 | TVA Nouvelles.
According to the study, “the majority of Canadians do not have a financial plan for 2024, while nearly one-third of households plan to reduce their spending in the coming year due to the rising cost of living.”
A series of articles to help you with your budget management.
If you are among those affected by the rising cost of living, here are some articles by Multi-Prêts Hypothèques to help guide your thinking and give you ideas on how to deal with financial stress that you want to manage as quickly as possible:
- Make a budget – How to make a budget – Multi-Prêts Hypothèques (multi-prets.com)
- Use technology effectively for your budgeting – Apps to better manage your budget – Multi-Prêts Hypothèques (multi-prets.com)
- Develop healthy financial habits – How to develop healthy financial habits – Multi-Prêts Hypothèques (multi-prets.com)
- Use the three-jar savings strategy –The 3-jar strategy to maximize your budget – Multi-Prêts Hypothèques (multi-prets.com)
- Consider refinancing or consolidating through your mortgage – You can even consolidate debts and save money using your property.
2. As you may have guessed: call a mortgage broker.
Fixed or variable? What fits your budget? Multi-Prêts brokers compare more than 200 mortgage products from 25 different lenders.
Selecting a mortgage product is a demanding process. And contrary to popular belief, it’s not only the interest rate that matters. There are also many conditions to evaluate in order to determine whether you are truly making the best choice. It may seem obvious that comparing different mortgage products on the market is essential.
You do not need to handle lender comparisons on your own when making your mortgage decisions. You can mandate a mortgage broker to do the comparisons and negotiate on your behalf, free of charge. With the support of an experienced professional, continuously trained and regulated by the AMF, you can rest assured.
3.You have every reason to pay less interest.
Inflation in 2023 had a significant impact on the savings of Quebec households. Every dollar counts, especially when buying a property represents the largest portion of your household budget. You need to negotiate, evaluate, and compare.
It is worth remembering that nearly 70% of borrowers sign their mortgage without comparing different products on the market, potentially leaving thousands of dollars on the table. Our brokers compare over 200 different mortgage products for you.