Mortgage Mistakes That You Should Avoid

The process of getting a mortgage loan is so complicated that people often end up making mistakes. Hence, before you apply for a loan it is important that you look into the various mistakes that you could make so that you can prepare for them in such a way that you simply wouldn’t make them.

One mistake that a lot of people end up making when they apply for Vancouver mortgages is that they don’t consider other expenses. They put so much of their money into repaying the mortgage that they forget about living expenses that everyone has to bear. This is called being house poor, because you own your house but you can’t really afford anything else.

As far as expenses are concerned, living expenses are not the only ones that you should concern yourself with. You also need to think about the added expenses that are incurred when you buy a home. These are things like maintenance and property taxes. A lot of people make the mistake of buying a home thinking that the price of the house is all that needs to be worried about, and then realize that they can’t afford any of the other expenses that need to be dealt with in order to keep the house as livable as possible.

All of that being said, one of the biggest mistakes that people make is that they hop on the first loan that they get a chance at. This is wrong because of the fact that there could be a better loan waiting for you, one that would be more in line with what you are thinking of accomplishing. The great thing about mortgages is that there are so many options available, which means that there is always a better mortgage that you can go for.

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Why Pursue a Post-Secondary Education

When our child first became a part of our life, we felt nothing but a strong need to protect said child and made a promise to ourselves to do whatever we can in order to keep our child happy. So, we start out by getting them toys, the best clothes and whatever comforts we are able to provide them, and usually even sacrificing our own happiness for the sake of theirs. Another important aspect of parenthood is to make sure that we are always thinking ahead and planning for our children. This includes finding the best school, the best summer camps and the best co-curricular activities for our child and so on.

One more thing we need to consider and think about beforehand is whether or not we want to save up for a college education. College educations are really expensive, and it can take years of saving in order to have enough money to afford a college education, and you might wonder if a college education is really worth it, but the truth is that a college education is really important.

There is a lot of competition in practical world now, and hundreds of people are competing for a few job openings everywhere, and you want to make sure that your child is able to stand out enough to get good job opportunities, and a college degree does just that. So, a college degree is more likely to improve your quality of life, especially when you first enter the job market. So, while college education is expensive, it is not entirely out of your hands. Companies like Knowledge First Financial are present to provide you an RESP for your child, allowing you to be able to save money form early on, so as time goes on, you can accumulated enough money to be able to afford a college education for your child.

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Mistakes to Avoid When Getting Currency Exchanged

If you are thinking about getting some currency exchanged, then you are going to have many options available to you that you can choose from. Sure, it won’t be an easy task for you if this is your first time, but for the most part, the process of getting a currency exchange is not a difficult one.

As a matter of fact, it happens to be one of the easiest, most accessible things to do. Still, if you are somewhat confused as to how the process works, you can always head over to

This way, you will get an insight of how things work in when it comes to exchanging currency. As always, there are certain mistakes that you should avoid to have the best possible experience. That is exactly what we are going to take a look at in this article.

Not Knowing About The Exchange Rate

For those who of you who are not aware, exchange rate is basically the rate that you get for getting one currency exchanged for another one. I know it might not sound like much to you, but if you are going to a different country, you are going to need to have a proper knowledge of the exchange rate.

Rushing Everything

Another mistake that I would suggest you to advise is rushing everything. I know many of my friends who plan a trip and then end up rushing it without even paying attention to what they are doing. This is never a good idea, and can cost you a lot of money, and time as well.

The best thing you can do is make sure that you do not rush, because it can be a troublesome situation otherwise.

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Things You Need to Know About Individual Voluntary Agreement

There are a couple of main points that you should know about IVA before you get into it so pay attention as we talk about them down below.

Amount of Debt

One main concern of debtors is the amount of debt that is written off under this agreement and it is a legit concern. You should know that the amount of debt that gets settled under this arrangement is something dependent on the debtor i.e. how much debt he/she can afford to pay in a reasonable way over the specific period of time but you should know that it is said that around 70% of debt is written off which is a huge amount. The amount that is paid off is also dependent upon the amount that was originally owed by the debtor.

Time Period

The time period of this contract is 5 years in total and during this time, the debtor needs to pay back every month as much as he/she can.

Creditors Agreement

IVA is a great option for the debtor but not always for the creditor if he/she/they are in need of money so IVA can only come into action if the creditor says yes to it.

IVA Management

You need to remember that IVA can only be initiated by an insolvency practitioner and no one else. The management of such a legal contract is a legal and serious matter and can only be handled by an insolvency practitioner. It is imperative that you go to the right source to get information so we would request all our readers to consult an insolvency practitioner to gather information about IVA but you can find out more about it online but keep in mind that it is not legal advice.

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