The holiday season can be crazy with all the planning that goes into family dinners, gift exchanges, holiday parties and then there is the actual holiday itself. Whether you celebrate Hanukkah, Christmas, Eed or another religious day/period, this holiday season one thing we all face in common is the expense that comes with the holidays and preparing to begin the New Year with our budgets, finances and credit intact.
Some Torontonians rush to complete their shopping, use their credit frivolously with the idea that they will deal with the repercussions in January. Some Torontonians have accumulated so much debt in the past few years, during the troubled economy, that they are wondering how they are going to pull the holiday together at all.
There is a clear answer. Instead of being overwhelmed by the holidays, embrace not only the holidays, but use the holidays as a way to tackle your financial challenges so that you can enter the New Year with more cash flow and strong financial goals.
If you own your home, refinancing over the holidays could be the best choice to clean up your credit and start the New Year on a fresh footing. Many Toronto Homeowners have used equity in their homes to obtain low rate lines of credit and other secondary home equity financing. Others have refinanced their existing mortgages to consolidate debt so that they can start the New Year with a single low monthly payment.
You see, if you own a home in Toronto, refinancing your mortgage or obtaining a new home equity line of credit is not as complicated as you probably think and can be completed in 2-3 weeks. Home equity loans and lines of credit are typically less interest than the unsecured credit products and offer more flexible repayment options.
From all of the staff at First Equity Financial we wish you and your family a safe and happy holiday season and all of the best in the New Year. For more information visit www.firstequity.ca.
