8 Friday, June 30, 2023brooklintowncrier.com Direct: 905 655 7236 Office: 905 239 4800 Eleanor KingEleanor King B. N. B. N. RealtorRealtor Maurice KingMaurice King B.E.D.S., B.Arch.B.E.D.S., B.Arch. RealtorRealtor What others are saying... "Trusted advisor!" | "Customer Focused!" | "Local Expert!" | "Professional!" | "Knowledgeable!" "Hard Working!" | "Accessible!" | "Dependable!" | "Patient!" | "Reliable!" "Well Prepared!" | "Honest!" | "Strong Negotiator!" "Superb Service!" Want to know what's happening in the market? Want to Know the Value of your House? Call Us Now! 905.655.7236 There is no cost or obligation! Your Trusted Source to Buy, Sell or Invest! 905.655.7236 view 1000's of Homes for sale at KingHomeTeam.com or KingOfBrooklin.com MARKETING YOUR HOME FOR ALL IT IS WORTH! Why Didn't My House Sell?Go to KingHomeTeam.com/blog for answers.It's a great time to Buy!Homes are on Sale! FOR SALE 241 Waterloo Net Zero FOR SALE 114 Homefield **Photo similar to house being built Not intended to solicit those under contract. Debt Reduction Key as Interest Rates Soar by Enriched Academy There are lots of reasons people fall into debt but only one way out -- and it's going to require a combination of planning, discipline, and persistence. With interest rates now soaring on many types of loans, there is no better time to map out an action plan to reduce your debt. Start by gathering information about all of your debts -- student loans, credit cards, lines of credit, car loans, mortgage, overdue bills -- everything. Make a list of all the debts with the details of the amounts owed, interest rate, and minimum monthly payments. This will help you set goals, create a timeline, and prioritize your repayments. Your first goal is to make sure everyone gets paid the minimum amount required to avoid your debts going into arrears. Overdue bills and missed payments are going to play havoc on your credit score and it can take a lot of time and effort to rebuild. Although minimum payments on a credit card balance will keep your credit score intact, they will barely make a scratch on the outstanding balance. A $1000 credit card balance at 20% will take well over 10 years to payback and incur another $1000 in interest if you only pay the minimum 3% payment. The next step is to figure out how much more you can allocate from your current income for debt repayment. One common debt pitfall is to look at your situation and conclude that more income is the solution -- and immediately start looking for ways to make extra money. While more income can obviously help you reduce debt, it shouldn't be your first step. The most important step is to create a realistic budget. Reducing the expense side of your monthly budget is going to free money to pay off debt much faster than pumping up your income on the top line. You need to identify areas where you can reduce expenses and channel those savings to your debt repayment fund. It's critical to start accurately tracking your expenses and get the actual data on your spending, not just a guesstimate based on your feeling. While you're working to pay down debt, discipline and commitment are the real keys to whether you succeed or fail. If your budgeting willpower is waning, put a temporary hold on your credit cards and focus on making cash or debit card purchases within your budget. It isn't a problem to continue using your credit card (cash is pretty inconvenient for some transactions), just make sure you pay any new credit card charges right away. When it comes to who to pay first, there are two commonly used strategies for prioritizing debts: the debt avalanche method and the debt snowball method. With the avalanche method, you focus on paying off the debt with the highest interest rate first while making minimum payments on other debts. The snowball method involves paying off the smallest debts first, regardless of interest rates, and then moving on to larger debts. From a financial perspective, the avalanche method is the best way to pay off debt, especially if the interest rate differential is large. It makes no sense to pay off a small amount on a home equity loan at 6% if you have credit card debt at 20%! For the vast majority of us, there isn't anything more expensive than credit card debt, and this is where you should focus. If you have been making payments and your credit rating is not too bad, you may be eligible for a credit card balance transfer offer with a promotional 0% interest rate for a specific period. Make sure you have a realistic plan and are disciplined before you sign up for any balance transfer options or credit card consolidation loans. They are a good option for managing credit card debt as they lower or defer the interest, but you need to stay on the payment schedule. If you have any investments (TFSA?), selling them to pay off credit card debts usually makes financial sense. Paying off debt is a long-term commitment that requires discipline -- there is no quick way out. Once you get started and see some progress, your mindset will begin to shift, and a huge weight will start to lift. Becoming debt-free or at least in a position where debt stress doesn't consume your life will do as much for your mental health as it will for your financial health. FOR SALE 13 Belton Thinking of Making a Move? Call us for similar results! 905.409.6730 FOR SALE Handyman special! MARKETING YOUR HOME FOR ALL IT IS WORTH! 905.655.7236 view 1000's of Homes for sale at KingHomeTeam.com or KingOfBrooklin.com ** Photo similar to house to be built. Not intended to solicit those under contract. What others are saying... "Trusted advisor!" | "Customer Focused!" | "Local Expert!" | "Professional!" | "Knowledgeable!" "Hard Working!" | "Accessible!" | "Dependable!" | "Patient!" | "Reliable!" "Well Prepared!" | "Honest!" | "Strong Negotiator!" "Superb Service!" Want to know what's happening in the market? Want to Know the Value of your House? Call Us Now! 905.655.7236 There is no cost or obligation! Maurice King B.E.D.S., B.Arch. Sales Representative Eleanor King B. N. Sales Representative Direct: 905 655 7236 Office: 905 239 4800 Your Trusted Source to Buy, Sell or Invest! DDeebbtt RReedduuccttiioonn KKeeyy aass IInntteerreesstt RRaatteess SSooaarr bbyy EEnnrriicchheedd AAccaaddeemmyy There are lots of reasons people fall into debt but only one way out -- and it's going to require a combination of planning, discipline, and persistence. With interest rates now soaring on many types of loans, there is no better time to map out an action plan to reduce your debt. Start by gathering information about all of your debts -- student loans, credit cards, lines of credit, car loans, mortgage, overdue bills -- everything. Make a list of all the debts with the details of the amounts owed, interest rate, and minimum monthly payments. This will help you set goals, create a timeline, and prioritize your repayments. Your first goal is to make sure everyone gets paid the minimum amount required to avoid your debts going into arrears. Overdue bills and missed payments are going to play havoc on your credit score and it can take a lot of time and effort to rebuild. Although minimum payments on a credit card balance will keep your credit score intact, they will barely make a scratch on the outstanding balance. A $1000 credit card balance at 20% will take well over 10 years to payback and incur another $1000 in interest if you only pay the minimum 3% payment. The next step is to figure out how much more you can allocate from your current income for debt repayment. One common debt pitfall is to look at your situation and conclude that more income is the solution -- and immediately start looking for ways to make extra money. While more income can obviously help you reduce debt, it shouldn't be your first step. The most important step is to create a realistic budget. Reducing the expense side of your monthly budget is going to free money to pay off debt much faster than pumping up your income on the top line. You need to identify areas where you can reduce expenses and channel those savings to your debt repayment fund. It's critical to start accurately tracking your expenses and get the actual data on your spending, not just a guesstimate based on your feeling. While you're working to pay down debt, discipline and commitment are the real keys to whether you succeed or fail. If your budgeting willpower is waning, put a temporary hold on your credit cards and focus on making cash or debit card purchases within your budget. It isn't a problem to continue using your credit card (cash is pretty inconvenient for some transactions), just make sure you pay any new credit card charges right away. When it comes to who to pay first, there are two commonly used strategies for prioritizing debts: the debt avalanche method and the debt snowball method. With the avalanche method, you focus on paying off the debt with the highest interest rate first while making minimum payments on other debts. The snowball method involves paying off the smallest debts first, regardless of interest rates, and then moving on to larger debts. From a financial perspective, the avalanche method is the best way to pay off debt, especially if the interest rate differential is large. It makes no sense to pay off a small amount on a home equity loan at 6% if you have credit card debt at 20%! For the vast majority of us, there isn't anything more expensive than credit card debt, and this is where you should focus. If you have been making payments and your credit rating is not too bad, you may be eligible for a credit card balance transfer offer with a promotional 0% interest rate for a specific period. Make sure you have a realistic plan and are disciplined before you sign up for any balance transfer options or credit card consolidation loans. They are a good option for managing credit card debt as they lower or defer the interest, but you need to stay on the payment schedule. If you have any investments (TFSA?), selling them to pay off credit card debts usually makes financial sense. Paying off debt is a long-term commitment that requires discipline -- there is no quick way out. Once you get started and see some progress, your mindset will begin to shift, and a huge weight will start to lift. Becoming debt-free or at least in a position where debt stress doesn't consume your life will do as much for your mental health as it will for your financial health. FFOORR SSAALLEE 1133 BBeellttoonn FFOORR SSAALLEE 224411 WWaaeerrlloooo NNeett ZZeerroo FFOORR SSAALLEE 111144 HHoommeeffiieelldd FFOORR SSAALLEE HHaannddyymmaann SSppeecciiaall!! WWiitthh PPOOOOLL.. ((oolldd pphhoottoo ooff ppooooll)) TThhiinnkkiinngg ooff mmaakkiinngg aa MMoovvee?? CCaallll UUss ffoorr ssuuppeerriioorr rreessuullttss!! 990055 440099 66773300 Knowing what to eat before you work out can be challenging. Fasting is popular right now which would mean you don't have to worry about what to eat before a workout. I don't fast and find I have better energy if I feed my metabolism smaller meals throughout the day. For example, with earlier sunlight, I've been returning to my morning running routine before work. I run three to four days a week and work out two other days. Morning exercise sets me up for a better day. It also gives me some "me time" before life gets busy. I now eat two breakfasts, one pre-workout and one post. My pre-workout one is small, easily digestible and ensures I'm not too hungry during my workout. Oatmeal usually does the trick. After, I replenish from the training. have a protein smoothie. For me though, it's all about the toppings or add-ins as I try to pack lots of nutrition into my foods. Oatmeal toppings & Smoothie add-ins: • Seeds: chia, flax, pumpkin, hemp • Dried peanut butter - the peanut taste without the oil • Fresh or frozen fruit: I love frozen blueberries on my oatmeal • Frozen banana: Smoothies only. It gives the smoothie a "milkshake" like texture. • Frozen spinach or kale: Smoothie add-in only • Nuts: walnuts, chopped almonds, or your favourite Here's my go to smoothie recipe from ohsheglows.com: The Green Monster Smoothie • 1 banana, large ripe frozen • 1 cup de-stemmed kale leaves or baby spinach • 1 cup almond milk or other non-dairy milk • 1 scoop of your favourite protein powder (optional - may also use hemp seeds). • 1 tbsp almond butter or peanut butter • 1 pinch cinnamon, ground • Nuts & seeds • 1 tbsp chia seeds or ground flaxseed • 2 ice cubes Add all ingredients to a high speed blender and blend until smooth. Sheree's Hack: You can pre-make the oats or smoothies the day or night before so they are grab-and-go in the morning. Pre and Post Workout Eating Plant-Based Eating by Sheree Nicholson