13 Nov

The Cold Buster Smoothie

General

Posted by: Jennifer Koop

Cold Buster Smoothie

Jennifer Koop & Susan Bloom – Mortgage Agents in Huntsville, Muskoka

The Cold Buster Smoothie.

Boost your immune system with this vitamin-packed thirst-quencher!

Cold and flu season is upon us. If you’re experiencing symptoms of illness or looking to fight them before they start, then this tasty drink recipe will help your immune system do its work.

Here’s why the combination of ingredients in this smoothie packs a big punch: It’s high in antioxidants.

  • It helps clear toxins through the liver.
  • It’s filled with Vitamin A, which helps clear congested lungs.
  • It’s a great source of energy fuel and brain food.
  • It’s free of dairy products, which will help suppress mucus production when you’re under the weather.

Bursting with flavour and nutrients, the mixture of blueberries, oranges, kale, apples, carrots, and beets are not only adult-approved, but popular with sick kids too!

Recipe

Total time: 10 mins

Serves: 2-3

Ingredients:

  • 3 cups of blueberries
  • 1 orange, peeled
  • 2 carrots
  • 2 cups of spinach
  • 2 cups of kale
  • 1 apple, core and seeds removed
  • 1 small raw red beet
  • 1/3 cup ice
  • 1/2 cup water

Instructions:

Place ingredients in a blender and blend until smooth. Add more water until mixture reaches desired consistency.

Published by DLC Marketing Team

For all your mortgage needs contact us today 705-349-0502

Jennifer Koop & Susan Bloom, Mortgage Agents Huntsville, Muskoka
Dominion Lending Centres, Mortgage Brokers Huntsville, Muskoka

Up Next: Is Your Financial Game On Point?

6 Nov

Is Your Financial Game On Point?

General

Posted by: Jennifer Koop

Is your financial game on point? We’ve got tips!

November is Financial Literacy Month and we have the tips to ensure your financial game is on point this Fall as we head into the New Year!

Nail Down Your Budget
Understanding the basics of budgeting and tracking your income versus spending is a fundamental part of financial literacy and control. Building a budget can help you define your spending habits, and determine where there is room for adjustments, and this gives you a chance to review your cash flow situation to ensure it aligns with your financial goals.

Ideally, your budget will fall close to the range of the following:

  • 32% of your income for housing, including property taxes, maintenance, utilities, etc.
  • 26% of your income for life, including groceries, medical, childcare, vacations, fun, etc.
  • 16% of your income for transit, including car payments, bus passes, gas, etc.
  • 16% of your income for debt, including credit cards, lines of credit, loans, etc.
  • 10% of your income for savings, including long-term planning, retirement, etc.

DOWNLOAD OUR FIRST HOME BUDGET TEMPLATE!

Dedicate Your Savings

Many individuals will have a savings account that is connected to their chequing account. This can be a bad habit, as it becomes too easy to use your savings account as a second account versus as a dedicated account for emergencies, vacation planning, or more. Ideally, you are putting 10% of your monthly income into savings whenever possible.

Live Within Your Means

This one seems simple, but it is surprisingly difficult to do – especially if you don’t have a proper budget! By putting together a budget as mentioned above, you can see where you are spending your income and how it compares to what you are bringing in. Ideally, you are adjusting your spending to ensure that you are not going over the cash flow available to you with priority expenses first, followed by leisure.

Understand Your Banking Options and Interest Rates

Having a loan with a 16% interest rate, a credit card that you’re barely making payments on, or a savings account that doesn’t give much back are all areas for consideration when it comes to truly understanding your options. Sometimes a different bank, account type, or loan type can make a big difference to your financial position. There are plenty of options, especially at mortgage renewal time, for consolidating your debt, changing your mortgage, getting a better interest rate, and more!

LEARN MORE ABOUT CONSOLIDATING DEBT!

TIPS TO PAY OFF YOUR MORTGAGE FASTER!

Check Your Credit

An annual review of your credit score and credit report is a huge part of financial literacy as this plays a key role in your overall financial status. Your credit score affects your loans, credit cards, mortgages and the interest rate you can qualify for so be sure to understand where you fall on the scale.

GET HELP UNDERSTANDING YOUR CREDIT SCORE!

Plan for Big Expenses

Are you looking to replace your car? Planning a family vacation? Need to renovate your kitchen or replace some furniture? These are all typically larger expenses that should be planned for in advance. While sometimes an appliance will break and need to be replaced, the goal is to have funds in your budget (or savings) for when things come up unexpectedly but also to plan out spending before large purchases or bookings. This ensures that when you get on that plane or drive off that car lot, you know you’re already paid!

Review Your Financial Progress

A lot of people set up a budget but then they don’t update it! Ideally, if any of your expenses change, such as an increase to your streaming services bill or utilities go up, you are updating your budget in real-time to ensure that you are keenly aware of what is coming into your account and going out. Generally, an annual review is a good idea for an overall clean-up of your budget but keeping it maintained all year long will help you get the best picture of your financial situation.

Stay Informed

When it comes to financial literacy, knowledge is power. With so many resources by your side from your mortgage broker to our Enriched Tips, Economic Insights and more it is easy to keep your finger on the pulse and be mindful of current economic changes, as well as new products or opportunities!

Whether you’re new to financial literacy and budgeting, or simply want a refresh, taking control of your finances and better understanding your spending, cash flow and options will help you get the most out of your income!

Published by the DLC Marketing Team

For all your mortgage needs contact us today 705-349-0502

Jennifer Koop & Susan Bloom, Mortgage Agents Huntsville, Muskoka
Dominion Lending Centres, Mortgage Brokers Huntsville, Muskoka

Up Next: What the Bank of Canada Rate Drops Mean for YOU!

5 Nov

What the Bank of Canada Rate Drops Mean for YOU!

General

Posted by: Jennifer Koop

What the Bank of Canada Rate Drop Mean for You!

Jennifer Koop & Susan Bloom – Mortgage Agents in Huntsville, Muskoka

What the Bank of Canada Rate Drops Mean for YOU!

With the Bank of Canada rate decreases throughout the summer and into September, I thought this would be a great opportunity to update you on what this means for your mortgage.

If you’re on a variable-rate mortgage, this will result in a slight decrease in your mortgage payments to match the current rates giving you more cash flow each month!

For example, if your mortgage balance is $750,000 at the previous 5.95% interest rate your approx. compounded monthly payment was likely $4,809. With the new rate of 5.45% your approx. compounded monthly payment on an adjustable-rate mortgage will be $4,583*. This is an estimated $226/m decrease ($30/m per 100k balance) on your payment.

*Rates based on example of Prime minus .50% (old prime 6.45 and new prime 5.95)

For those of you who are on fixed-rate mortgages* or have renewals coming up, this reduction in interest rates could make it easier on you at renewal time. The decrease in interest rates gives you more borrowing power in the market – this means your money can go further!

*Remember, the drop in the Bank of Canada fixed rates may not result in the same drop for fixed mortgages as with variable rates. The decrease in interest rates will however open up new variable options and, depending on your lender may still provide allow you to take advantage of lowered rates.

This is the same for first-time buyers! Lower interest rates mean you now have more borrowing power in the marketplace, which could help you find that perfect home by allowing you to allocate monthly funds to your mortgage more comfortably.

In more good news, The Bank of Canada has two more decision dates this year in October and December. Experts anticipate the Bank of Canada will continue these quarter-point rate cuts, taking the overnight rate down to 4.0% at year-end and potentially down to 2.75% next year.

Whether you’re a current homeowner, looking to renew, or wanting to purchase, this is exciting news for Canadians across the country!

However, keep in mind rate is not the be-all-end-all of mortgages. It is important to keep in mind that factors such as type of mortgage, down payment amount, payment schedule, amortization, and more will also affect your mortgage and affordability.

If you want more information about your specific mortgage and how this affects your situation, please don’t hesitate to reach out us, your DLC Mortgage Experts today!

Published by DLC Marketing Team

For all your mortgage needs contact us today 705-349-0502

Jennifer Koop & Susan Bloom, Mortgage Agents Huntsville, Muskoka
Dominion Lending Centres, Mortgage Brokers Huntsville, Muskoka

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