I would like to share with you a fairly typical story of clients that I work with.  This particular family earns a pretty healthy income but there is never enough money at the end of the month to save anything towards their retirement, university fund for their children or to payoff their overdraft.  I went to visit these clients recently and was told to be brutally honest with them while going through their bank account and spending habits as they are planning for retirement in the next 5 years.  They felt that changes had to be made today or they were going to have to sell their house and rent in the future.

When we sat down and I worked out the numbers, it appeared that over $2,500 per month was unaccounted for.  They had no idea where the money was going.  I then had to move into the role of mediator because unvoiced accusations and resentments began to surface.  I am very good at seeing both sides of the story and could totally understand where they were both coming from, so things calmed down fairly quickly.  It was also important to get both partners be realize that this was not a blaming exercise but simply a meeting to help the family address their finances and their inability to live on their income.  It also became very apparent that if both parties continued to make excuses for where the money was going we weren’t going to get very far.  If you can’t have an open mind, see where you could improve without taking it personally, see how making changes is a good thing, take off the blinders and be aware of what is really going on, change cannot happen.

After a 3 hour of discussion, we were able to see progress.  A change in attitudes that we didn’t need to blame anyone but to just be honest and accept responsibility for our own actions knowing that there wasn’t any judgement.  When I left, I felt fabulous in knowing that I had helped resolve some of the issues and stress around not only their finances but their relationship and that they knew what changes had to be made that would impact the rest of their lives.

There are more people than you know that struggle with meeting their monthly obligations, if I can be of service to anyone that you know, please reach out to me, I would love to work with them!

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Oakville, Mississauga, Burlington and Toronto and offering all mortgage related services such as 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406