Canada’s economy is still adjusting to the post-recession world, while millions of citizens struggle to make ends meet. The fallout over the last few years forced Canadians to adjust their lifestyles, and become frugal with how they spend money.
When people think of frugal living, they identify the term with coupon clipping or discount shopping. But the concept incorporates other means of living, including personal finance. Utilizing the most affordable financial products and services saves both time and money in the short term. The short term savings are later transitioned into a comfortable retirement over the long term.
In the past, personal financial planning required a long, tedious, and in many cases expensive negotiation with bankers, creditors, or mortgage brokers. In addition to being time consuming, this process benefits the lender financially rather than the applicant. Lenders operate under an assumption that Canadians are ignorant of their financial options, and dictate what they believe is a fair or affordable financial plan for a mortgage or a credit card, which typically costs applicants more money than is necessary.
But the good thing about traditions is that eventually they become outdated. Modern technology made online shopping for retail products particularly popular across Canada, and a similar concept is now available for personal financial planning. Online comparison sites allow Canadians to compare advertised mortgage, insurance, and credit card plans from some of the leading providers across the country.
This service functions similarly to a one-stop shop price comparison site, which allows users to compare plans, and their corresponding interest rates. Within just a few moments of browsing, Canadians can find the most affordable personal financial options, which over the long term can transition into tens of thousands of dollars in savings. The main benefit of this service is that it places control back in the hands of the applicant because options from all viable providers are available at your fingertips.
The recession forced people to change how they spend and save their money. An online tool helps make the adjustment easier, efficient, and affordable.
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Image is from The Microsoft Office Clipart Collection
Guest Author Bio
Gary Parkinson
A young and creative writer, Gary is a very opinionated person who is not afraid to speak his mind. He uses writing to express his thoughts, and feels attached to his work. Gary believes that an article or a post is both an expression of the writer’s beliefs, but it should also challenge the reader to develop an opinion of their own. As a result, Gary expresses his own opinion within his writing, while leaving room for readers to agree or disagree with thoughts of their own.
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