Episode 58 Transcript – Christmas financial hang-over

Hello! You are here with Jessi Johnson and it’s Christmas Eve. There’s my girlfriend Janakie, say hi [Hello!] and we have made for you a Christmas tree. All we need is a star. Mad skills if you ask me. [That looks awesome!] That does look awesome. That took us what? Seven or eight minutes? My point of today, in the beautiful white Christmas we’re having here, is that a lot of people after Christmas like myself have spent a lot of money and have none left and we have a Christmas debt hangover. One of the things we can do as brokers obviously is do a refinance on your principal residence or provide you with a line of credit to ease that pain allowing you to carry whatever debt you have that you’re paying on your credit card. I’ve seen as high as 29% actually lately. Refinance it into 4 or 5%. As well if you have an existing mortgage and you don’t have a Christmas debt and you were financially savvy I still recommend refinancing if your interest rate is 5.5% or higher because the rates are so low right now. Even if you pay a penalty, which I have a way of getting around that in some circumstances, you’re going to save yourself upwards of $14,000 if your rate is 6% on half a million dollars. Either way you can reach me at www.firsthomeinfo.ca. My name is Jessi Johnson, have a good day and a Merry Christmas. Say goodbye [Bye! Merry Christmas!].