Kari Kopat, Personal Financial Coach

Some inspiration for the day 🙌🏼

Is your mortgage coming up for renewal?

Here’s a great reminder of why you should use a mortgage broker (written by my mortgage broker, Andrew Bealer):

Mortgage renewals can be daunting, especially in today’s high interest rate environment where the prospect of facing a payment shock is very real for many homeowners.

But as mortgage brokers, we understand the intricacies involved in the renewal process, especially given that rates have changed so much over the past two years. My goal is to alleviate the stress and uncertainty you may be feeling, and help you secure the best terms for your renewal that are tailored to your unique financial situation.

In case you haven’t considered the services of a broker for your upcoming mortgage renewal, here are just some of the benefits of having a professional on your side during this oftentimes stressful process.

*** Unrivalled access to mortgage options

Mortgage brokers have access to a multitude of lenders, including those not directly available to the general public. And unlike banks and certain financial institutions that only offer their own mortgage products, we not only ensure you’re getting a good rate, but also the best product that's tailored to your specific needs.

*** Expert negotiators

We negotiate mortgage rates for our clients every day, it’s what we do. Our industry expertise and lender relationships often allow us to secure better rates and terms than you might on your own. But it’s not just about finding a lower rate. When clients ask us, “Can you beat this rate?” we dive deeper, considering your entire financial landscape. Because the lowest rate isn't necessarily the best if it doesn't align with all aspects of your financial goals, especially in today’s more challenging market.

*** Cost savings beyond the interest rate alone

Not only can you benefit from securing a more competitive mortgage rate, but we also offer tailored financial strategies that can significantly reduce your overall borrowing costs. These can include optimizing your amortization period to balance loan reduction while maintaining sufficient monthly cash flow, advice on making lump sum payments to reduce the principal faster, and structuring your mortgage to minimize penalties and fees down the road.

*** A stress-free renewal process

Perhaps one of the biggest benefits is one that you can’t put a price on—peace of mind.

Renewing your mortgage with a broker is a stress-free process. We handle the legwork, from researching and comparing options to negotiating with lenders on your behalf. This not only saves you time but also spares you the hassle and frustration of going through your renewal alone. Our goal is to make the process as smooth and efficient as possible, and giving you the peace of mind of knowing your mortgage renewal is in capable hands.

So, whether your mortgage is up for renewal this year, next year, or even several years from now, be sure to reach out early so we start the conversation. By doing so, you’ll ensure that when the time comes, you’re not just prepared, but well positioned to secure the best mortgage possible.

What’s your money style? It was interesting to take this short quiz and read the analysis afterward. 👈🏼

My money style is Contribution, and I agree that it’s pretty accurate! As someone in that category, I am motivated by making an impact and I approach money decisions thoroughly and thoughtfully. What about you? I’d be interested to hear from you in the comments. 👇🏼

I’m not a ScotiaBank fan, by the way, but this little quiz was fun and may shed some light on the way you view & interact with money. 💲 Check it out!

What's Your Money Style? | Scotiabank Canada Take the Money Style quiz to understand the emotions, motivations, and fears behind stressful money conversations.

What do you pay for fees on your investments? 2%? Less? Heaven forbid, more than 2%?

The Management Expense Ratio (MER) is the fee you pay on investments, and it drastically affects the value of your portfolio over time. As you can see in this example, paying a MER of 2.24% instead of 0.24% made a difference of over $180,000 over a 30-year span, and that is with a conservative monthly contribution of $400. 😲 When your investments are “actively managed”, your MER is substantially higher.

“Actively Managed” Investments: A person (or team of people) tracks the performance of an investment portfolio and makes buy, hold, and sell decisions about the assets within it.

With my investments, the majority of my portfolio has a MER that ranges from 0.06% to 0.34%. I don’t buy actively managed funds. Over a 30-year time span, the difference will be hundreds of thousands of dollars.

So, again, what is the MER on your investment portfolio? If you don’t know, it’s worth looking into. 👀

Small steps in the right direction still take you closer to your goals. 🙂

Have you received your Climate Action Incentive payment? 💲

Do you have a plan for putting those dollars to work?

Happy New Year! 🎆

Have you heard? The TFSA limit for 2024 is $7,000.

And in different news, are you aware that Mint is shutting down? If that is the budgeting app you’ve been using, be aware that it will no longer be available as of January 2024. 💲

So, what other good options are out there for Canadians? 🇨🇦 I’d recommend YNAB (You Need A Budget), EveryDollar, or the trusty Excel spreadsheet. ☺️ What do you use for budgeting? Benny and I are spreadsheet people as we like being able to easily view things at a glance, and we like the customization it offers. Plus, Benny loves creating spreadsheets. 😁

But the point is, you must find something that works for you! Having a monthly plan for your dollars allows you to tell your money where to go instead of wondering where it went. 👈🏼

https://harvestportfolios.com/tfsa-limit-set-at-7000-for-2024/?fbclid=IwAR0ulMFOiFM3FyWtOXABkJjWOxf6Nxor9o7m1GCem4IG_m9R02mNa9SIalE

TFSA limit set at $7,000 for 2024 Learn the Tax Free Savings Account limit for this year and how ETFs can help investors using TFSAs to achieve their goals

It’s back!!

The online Canadian Financial Summit kicks off in 3 days, and you will have the opportunity to listen to over 35 educational webinars for FREE. I have learned so much from this annual event!! And it’s awesome that it’s purely Canadian content.

Videos will be available for free viewing for 48 hours from the time that they launch.

However, there is the option to buy the All Access Pass, which gives access to all the 2023 talks for life so you can stream them on-demand whenever you’d like, from any device. You'll also be able to download the audio version of them for listening when you're on-the-go.

You’ll also get a bunch of major bonuses - sign up for your free ticket to find out. :-D

Even if you listen to only 1 free presentation, do it! This is an incredible opportunity.

Kari Kopat
Personal Financial Coach

www.canadianfinancialsummit.com

Looking to get your finances back on track?

Join our Dave Ramsey Financial Peace class, which is an in-person class that starts in just 10 days. It will be held in Leduc and will dramatically alter your relationship with money! Classes are scheduled for every second or third Monday, starting on September 25th.

Reach out for details and let’s get you registered! Or, if you’re seeking a more personalized & customized solution, we can connect for personal financial coaching sessions.

Kari Kopat, Personal Financial Coach

“Don’t let your face plant grow roots.”

That’s the title of one chapter in a book I’m currently reading. And I think it speaks volumes! We all make mistakes in life, in relationships, with money, with things we say, and actions we take . . . But we don’t need to dwell in face plant mode. We can make different choices, better choices, the next time around! We can move forward.

Are you looking for a reset with your finances? Want a fresh start? Join our Financial Peace class starting on Monday, September 25! It will be taking place in-person in Leduc. Reach out for more details! Honestly, going through this 9-lesson series by Dave Ramsey and his team could completely alter your financial future.

Kari Kopat
Personal Financial Coach

Financial Peace classes starting soon!!

During this 9-lesson series, learn how to have peace with your finances and feel prepared for the future. 😀

We are located in Leduc, Alberta.

More details to come! Reach out to me if you’d like to register.

Kari Kopat, Personal Financial Coach

Happy Friday, friends! Here’s a great article about How To Save On Groceries. 😋 Even reading a few tips could save you a bunch of your hard-earned dollars!

https://eatsleepbreathefi.com/how-to-save-money-on-groceries/?fbclid=IwAR0Her5VsHQghWbejzYFcczi2RieYSVnPLomWDC92ycJ00Fy42Xi6hJFCWo

How to Save Money on Groceries (36 Valuable Tips) | Eat Sleep Breathe FI Wondering how to save money on groceries? Look no further—here are 36 valuable tips to help slash your grocery budget (but still eat well)!

Hello friends! The Women Can Money online event starts today!! Check out the list of speakers below, and listen to some free content during the next 3 days. Even learning a nugget or two of financial wisdom can make a big difference!

Speakers – Women Can Money Virtual Summit Meet Your Host Globe Instagram Twitter Welcome to the Women Can Money Virtual Summit! Hi! I’m Maria, mom, teacher, personal finance blogger, and now summit host.My husband and I paid off our $342,000 mortgage in less than 5 years and then went on to buy 9 rental properties.I’m a total money nerd...

A Friday chuckle 😅

I don’t have horses, but had to share as I laughed out loud at this one.

Have a great weekend, friends! 🌤️

This is a great online event! It’s free, and it’s designed for women. This year’s theme is investing. Check out the links for more info and to sign up for your free ticket! 🎟️

The Women Can Money Summit is on May 10-12.

Have a fantastic weekend, friends 🌤️😊

I’ve always liked this story and the lesson that it teaches. It really speaks to the importance of defining your goals!

Having a clear vision and specific goals will greatly help you with real life, real time decision-making so you don’t get sidetracked or caught up in ”keeping up with the Joneses”.

"There are people who make things happen,
people who watch things happen,
and people who wonder what happened.
To be successful, you need to be a person who makes things happen.”
~Jim Lovell~

Are you wanting to make a change in your financial life, to alter your financial future?

What can you do to start to alter the trajectory a little bit? Or do you need a major “recalibration” in your money habits?

If you want some guidance, feel free to reach out!

Kari Kopat, Personal Financial Coach

He paid a debt He did not owe.
A debt we could not pay.

♥️ Thanks be to God!!

Happy Easter, friends!! 🌤️

Have you heard about Canada’s tax-free First Home Savings Account (FHSA)? 🏠

> Who is eligible? Canadians aged 18+ who do not own a house and have not been homeowners in the last 4 calendar years.

> Prospective Homebuyers can contribute up to $8,000 per year to a maximum of $40,000.

> Funds can be withdrawn tax-free from the FHSA as long as they are used for purchasing a home that the account holder will live in.

> What sort of investments could be held within an FHSA? According to the CRA, account holders could have a “broad range of investments, including mutual funds, publicly traded securities, government and corporate bonds, and guaranteed investment certificates” in their FHSA.

> The new federal rules for this Savings Account came into effect on April 1, 2023, but the big banks may not be set up to support it until later this year.

🛑 If you are already a homeowner, let your loved ones know about this opportunity! Read on below for more info.

https://www.thestar.com/business/2023/03/31/canadas-new-tax-free-first-home-savings-account-takes-effect-april-1-heres-what-you-need-to-know.html?rf

https://www.canada.ca/en/department-finance/news/2022/08/design-of-the-tax-free-first-home-savings-account.html

Kari Kopat
Personal Financial Coach

Hi! I’m Kari and I’m a Financial Coach. Thanks for following my page! ☺️ Perhaps you are wondering, what’s a Financial Coach?
⁠⠀⁠
I provide private (1:1) coaching for single women and couples. I can evaluate your current situation, help you define personal goals, and formulate a plan for helping you reach those goals. All this is done in the context of what YOU value and are passionate for. 🌤️

I want to see you achieve financial peace. 🕊️

We talk about real situations and real numbers, and be assured I do not sell insurance or investments. I serve as your personal money guide and my true motivation is to see you succeed in your financial life!!

I can help you get answers to your questions about making & following a budget, saving, investing, ensuring you have the right types of insurance in place, and more.

Schedule a complimentary 15-minute consultation today!

Kari Kopat
Personal Financial Coach

Ooh, how I love a good deal! My husband and I bought these chicken drums for family last week when we were in Nanaimo. They were $1/lb!! I do not remember a price like that in recent decades. 😄 With the price of food as it is, it was such an incredible blessing!

And, the other day I found a head of cauliflower for $2.79. Yup, pretty happy with that deal, too. 😊 Gotta celebrate the wins! 😆

Have you found any smokin’ prices on food lately? Any recommendations to share? Put it in the chat! 👇🏼

Have a wonderful weekend, friends. 😀

Hello friends! I took part in a real estate investment conference this weekend and today I learned about new tax rules that may affect you if you own a rental property. Have you heard of the Underused Housing Tax? It came into effect on January 1, 2022. Have a read below:
https://www.cpacanada.ca/en/news/canada/underused-housing-tax

There are significant implications for many Canadian citizens who own rental real estate, even though this tax was originally intended to target non-residents. Reach out to a trusted accountant if you have questions!

Basic facts you need to know about the Underused Housing Tax Canadian citizens and residents who own residential properties should familiarize themselves with the UHT’s various provisions to understand how they may be impacted

Look at these three scenarios…

“Billy the Best” invests only when the stock market is at its lowest.
“Unlucky Ursula” invests only when the stock market is at its highest (the worst time).
“Dollar Cost Average Diane” invests regularly, regardless of what is happening in the stock market.

💲💲💲 Dollar Cost Average Diane does the best over a ~40 year timeframe!!

The lesson? Set it and forget it, “it” being automated contributions to your investment account. Keep investing no matter what. Don’t regularly check on the value of your investment portfolio.

Inflation is high? Keep investing.
There is talk of a potential recession? Keep investing.

And maintain a long-term outlook. 😀 I’m sure you’ve heard it before, but time IN the market matters way more than timING the market.

Have some questions about this scenario or about how you can find money in your monthly budget to invest? Ask me. 🙋🏼‍♀️ I’d be happy to help. Taking the step of creating a plan for your money each month can make you feel like you got a raise. ☺️

Note: These slides are from a recent “The Money Guy Show” on how to win financially during a recession. Love hearing what The Money Guys have to say! Lots of wisdom there. 👍🏻

Kari Kopat
Personal Financial Coach

There are some helpful tidbits in this article that outline changes which will affect your finances in 2023. Have a quick read!

Kari Kopat
Personal Financial Coach

https://financialpost.com/personal-finance/taxes/cra-tax-changes-new-rules-affect-finances-2023?fbclid=IwAR27XK46RGR-1Zki-YbOffsWnTUJIxQhbvHotmzpXLXVC6yR1SgT23W_7Tk

11 tax changes and new rules that will affect your finances in 2023 Many of the important tax figures in Canada have been substantially increased for 2023. Find out more.

I love smelling the roses, literally. Last fall we were in Butchart Gardens (Victoria, BC) and I took time to smell the roses, some of which are amazingly fragrant!!
“Smelling the roses” represents having time to do what brings you joy and peace . . . and to do what you’re passionate about. It represents prioritizing what is meaningful in life. How will you pursue your passions in 2023? Do you need to get your money life in order to free up time and resources to do what brings you joy, and to engage in things that you were made to do? There’s nothing more fulfilling than doing what you were made to do and being who you are meant to be.
Ready for a money tune-up? I’m offering appointments on most Monday and Tuesday evenings in the coming months, as well as the occasional Saturday. Book a complimentary consultation and let’s see if we’re a good match for your financial journey!
Make 2023 the year that you “smell the roses” often, and with intention. 🌹
Kari Kopat
Personal Financial Coach

Merry Christmas!!! I hope you have a blessed, Holy Season filled with peace and joy. ☺️

Kari Kopat
Personal Financial Coach

Had to share this one! 😄 Works on two levels for me (as a Financial Coach and Physical Therapist). 😁