As we approach 2018, one of the meaningful thing to do is to go through what are the progress made for 2017 and subsequently, where do we want to go from here.

As far as top financial goals are concerned, in the most recent survey conducted by CIBC, the results are as follows :

25 % point to tackling debt reduction or elimination

15 % aim to pay bills on time

13 % set theirs as growing wealth and investments

8 % mention saving for vacation

7 % targets retirement

6 % choose having a house or renovating one

In fact, high level of Canadian household debt has reached a record high that the Governor of Bank Of Canada is losing sleep over it. Household debt now stands at 171.1 % of disposable income – that is, for every dollar of household disposable income, there is $1.71 debt (consumer credit + mortgages + non-mortgage loans).

At this level, there is a risk that many households may no longer be able to service their debts. This can cause grave consequence for the households and the economy at large.

In fact, debt reduction has been the top priority in annual polls of this nature for the last 8 years.

Only 16 % claim that they have achieved their top financial goal in 2017.

26 % responded that they actually took on new debts to take care of day-to-day expenses and unexpected financial emergencies.

So, why it is so tough to pay down debts?

Of course there are multitudes of reasons. For the purpose of this discussion, I will submit that many if not most just freeze and don’t know how to start tackling their debts when they are shown the amortization table.

They see that for a big part of the initial years, very little of their payment goes to pay down the principal. They just seem to be fighting a losing battle.

Of course, the amortization table is a legal tool the lending institutions uses as one of the major terms of the lending.

Is there any other way to pay down debts faster?

Yes, indeed there are.

The most common are : mortgage modification, debt roll-down, increased payment, consolidation and even refinancing.

Those who are mathematically inclined will profess to use their spreadsheet skills to figure their way. Nevertheless, with increasing combinations of different debts and their associated terms, the complexity of factorial maths quickly conspire to thwart even the most dedicated attempts to figure them out.

So, it are a tool that can help?

The straight answer :  YES. The DEBT SHREDDER.

It is designed as a dedicated Financial GPS that guides user towards the fastest path to ZERO DEBT.

There is no need to talk to the lender, no change in lifestyle. DEBT SHREDDER just figures out the fastest route, every time. Like a GPS, it recalculates and re-route strategies when there is any change along the financial journey.

DEBT SHREDDER acts like a Financial Buddy providing guide on :

> How much Money To Move

> When to Move Money

> From Which Account to Which Account

By providing some salient debt information, DEBT SHREDDER does an analysis and report how much savings it can help in each situation. DEBT SHREDDER will figure out the savings for each household debt to income scenario.

Below are some analysis results:

Interest goes to someone. It’s either the lending institution as Interest Earned or the Borrower as Interest Saved.

Which will you rather see?

Watch this 3 min video and see what you have been missing out – that the banks/lending institutions do not want you be educated about.

You are welcome to check out a FREE ANALYSIS to see how much DEBT SHREDDER is going to save you.

You can also visit   http://shopfinancial.com/healthyplan to watch more detailed explanatory videos.

You can also leave your contact below that we can reach you to follow up on the DEBT SHREDDER FREE ANALYSIS.

 

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