How is inflation affecting YOU?

How is inflation affecting YOU?

The hot topic in the media today is how the cost of living is rising. It’s true – we have all experienced this at the pumps, at the grocery store, and with our mortgages. At Gail Sylvester Mortgages, we are all about reducing money stress by helping with cash flow. Managing your finances in a changing and unpredictable world can be complex, but we always have solutions.

There are ways to assist with cash flow in the short term, like mindful daily spending on lunches, clothes, and shoes. It is all about balance. If you are going out for a few dinners to reconnect with friends, consider purchasing one less summer dress or pair of shoes.This give and take still allows a full and rich life with minimal sacrifice.

Inflation is now at 7.7% – the highest point since 1983.

Inflation is primarily tied to the cost of gas and oil, and we have all personally experienced these hikes. In May, gas prices were up 12%, leaving consumers to wonder where these prices may be going? The good news is that June has seen a leveling of prices at the pump in Ontario, helping to ease some of the fears.

How can we help you manage these rising costs of living?

Together, we can do an audit of your entire financial picture. As we review the funds coming in and going out, we will make sure we ease your concerns with the products that can help give you back some cash flow and make day-to-day life a little easier.

Options to explore to ease your financial commitments:

• Consolidate debt with low-interest loans or lines of credit
• Eliminate high interest with a refinance
• Sell investment or secondary properties
• Alter spending habits – short and long term
• Create a workable budget

For each of these options, there are mortgage products on the market. Once we find the right one for your family, you can live comfortably and reduce financial pressure.

We specialize in working with the self-employed, commission-based, and entrepreneurs to navigate the often complicated mortgage landscape. We are confident there is always a solution and a plan that we can help put in place to get you where you need to be – even with rising inflation.

To learn more about the rising interest rates and your mortgage options, watch our latest webinar: https://www.youtube.com/watch?v=ny7OWhrcybc&t=668s

Book a time with me so we can chat about your specific situation – https://calendly.com/gailsylvester

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