If there is one thing we preach at Robert floris’ Mortgage Architects in Hamilton, Ontario, East Mountain, is that PAYING YOURSELF is the most important financial habit anyone can have whether you are buying a home or not. At our Mortgage Architects office in Hamilton, it did not surprise us that almost half of homeowners are unprepared in case of an emergency. This is very concerning since we are worried about a recession in 2017. Most homeowners wait until they are in trouble.

Absolutely wrong, get your financial house in order BEFORE the emergency starts. many Canadians have bought large homes and subsequently larger mortgages with the lower rates. this is fine as long as you have the financial plan or discipline to SAVE. This should be every homeowner’s financial plan:

1. Current relationships: make sure both partners are on the same page.
2. Pay yourself: when you put money aside, you have options and are not vulnerable to economic shock.
3. Manage your money.

Please review your personal financial position NOW.