The Third Step to Debt freedom

The Third Step to Debt freedom

Posted on by Matthew Laker

My family was planning a trip, and it was going to take 24 hours to drive to get to our destination. I sat down with a physical map, google maps and search engine, to pick the roads we would drive and places we would stop. Once we had the plan, we gave lots of freedom to adapt as circumstances changed. Like I should not have got that big drink at lunch.

The same is true in gaining freedom from your debt. It would help if you had a plan. It is crazy people spend more time planning a vacation than they do on retirement or finding debt freedom.

(Check out the first two steps here)

However, if you spend just a little bit of time, we can create a plan together that will get you debt-free.

Do you have a plan? When was the last time you looked at that plan? Have you gotten sidetrack from your destination? Do you want fresh eyes to help. This is where a financial coach can help?

You see, a plan tells your money what to do, instead of it telling you what to do. What option do you want?

To help you in creating a plan here is a free budget tracker and tool.

or
Let’s meet for a free 60 min zoom coaching call, and I can share how I can help, and we can do a free financial analysis.

The Second Step to Debt freedom

The Second Step to Debt freedom

Posted on by Matthew Laker

Last time, we talked about the first step to debt freedom. You can read it here. 

My girls and I were out for a Hike, and we were following the path and trail makers. However, at some point, I said, you know it feels like we are going in the wrong direction. It had been some time since I looked at the map. So I brought up an app on my phone with the GPS, and sure enough, we had taken a side trail. It took a few minutes to get our bearings and figure out what direction we need to go in. We backtracked and found where we should have gone left instead of right. 

When we found out we were not where we wanted to be; we had to assess just where we were and where we wanted to be. The same is true in our finances.  

The second step to find debt freedom is to find out where you are and where you want to go.  

The advantage of working with me is, each person we take a financial analysis. The goal is finding out your dreams and goals and just where the money is going. It helps give a reset in direction. Then based on what you want, suggest a path forward.  

You can not get out of your debt until you choose to and take an analysis of just where you are at. Just like when I was hiking, we had to figure out where we wanted to go and where we were. 

Taking the time to write out those details can be a significant step on the path to debt freedom.  

Setting Financial Goals in your Marriage

Setting Financial Goals in your Marriage

Posted on by Matthew Laker

Many couples have different ideas about money and other topics. Many just focus on short term goals and do not think about longer goals. One of the best things you can do is sit down and come to the same page.  

Steps to strengthen your marriage and set financial plans. 

Grab the Marriage and Financial Goals pdf exercise. 

Enter your email and gain access to the pdf worksheet that you can use to set financial goals in your marriage.
  1. Schedule an hour of undisturbed time. 
  2. Take the pdf and print one for each of you.  
  3. Take the first 15 minutes and answer the questions.
    1. Short term Goals (six months to one year)
    2. Long term Goals (one to five years)
  4. Now it is Discussion time. Come together and work through the following questions.
    1. Each take your list and share it back and forth. Do not discuss if you can do it; just listen to each other.  
    2. What is the difference, and what is the commonality?
    3. Decide together as a couple on your shared goals.
    4. Talk about how each of you will contribute to making this happen.

You are not alone in this journey. Here is where I can help. I can help you develop this financial plan and financial foundations for your family and empower you today.

The First step to debt freedom

The First step to debt freedom

Posted on by Matthew Laker

Debt makes you a slave. Are you ready to break free from Debit?

The first step if you want to get out of Debit is to choose to. So much of our life is about choices.

Even in 2020, with COVID in Canada, the debt load went down a little. However, on average, Canadians are still spending $1.50 to 1.70 for every $1 of disposal income.

When you choose to get out of debt, great things can happen. This is where I can help with an Expert Financial Analysis. In a part of that report, we talk about debt and how to say goodby.

Let’s say you have a $3,000 dollar debt payment each month. We can present a plan to find debt freedom. But it does not stop there. After you conquer that debt, you take that $3,000 a month and invest it for just eight years at 8%. You have the possibility of saving just over $399,000.

This is not possible without first deciding you want to do this.

To help you along the way, download this free budget tracker and planner.

Free Budget Tracker and planner

Part 2, Part 3

Life Insurance Product: Foresters and CPP

Life Insurance Product: Foresters and CPP

Posted on by Matthew Laker

This week’s Wednesday product review is Foresters and CPP.

These two companies who are leaders in the insurance industry, have come together to form a larger one.

They share they have a focus on overall wellness and not just life insurance. As a result, for those who have contracts with these companies. You receive these member’s benefit. 

Members Benefits

These are tools and resources they offer to their client. 

  • Lawassure – legal document creation service (create a will, make a power of attorney, prepare a healthcare directive).
  •  Grants and Scholarships
  • Emergency Assistance program
  • Orphan Scholarship 
    • Up to 6,000 annually available to help fund post-secondary school.   
  • Orphan OBenefit 
    • $900 a month per child to the legal guardian for the children under 18 upon the parent’s death.  
  • Volunteer Leadership development and community volunteering opportunity. 
  • Everyday money toll-free financial helpline
  • Transportation benefit 
  • Life-long learning – a range of courses to for personal development and growth skillsets. 
  • Charity benefit – Will donate 1% of the death benefit to a charity.

Type of Insurance they offer

  • Permanent Life Insurance Plans (As of January 2021 were some of the lowest-priced protection. This can change and most likely well as time goes on.)
  • Term Life Insurance Plans(no medial and Simplified) 
  • Critical Illness Insurance Plans

This is one of many great products we can access for you. It all starts with a free financial analysis to assess what you need.  

What question do you have? 

Extra:

Financial Resolutions Checklist