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Want to Avoid the New Year Financial Hangover?

A few years ago, I learned to cut out not only my holiday bill stress, but my year-round holiday and gift buying stress… Completely! The challenge is, many folks spend during the holiday first, then tally up the total later. This often means overspending. I figured out that a little planning goes a long way. Here’s what I did: Use an Excel spreadsheet (makes calculations easier). Make a list of people you want to give gifts to for the holidays. Remember to add any small gifts you may buy like for office co-workers, team members, teachers, coaches, mail delivery, etc. Factor in any other holiday spending including party hosting, activities, Secret Santas, etc. Figure out how much you want to spent AS A WHOLE for all of this. Break down the per person gift budget. Don’t be surprised if you max out the budget before you are done allotting for […]

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Nov 2017 Newsletter: Will New Jan 1 Mortgage Rules Hit You Hard?

Nov 2017 Healthy Wallet Mortgage & Money Newsletter… Click to read! https://hippocontact.com/newsletter/2289/       .

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You Can’t Escape This Time: New Mortgage Rules on Jan 1, 2018

A an announcement was made yesterday about new Canadian mortgage rules that will come into effect Jan 1, 2018. I have been so busy posting and responding to comments on Facebook and by email, that I thought it would be a good idea to post this on my website! What do these new mortgage rules mean? Folks will qualify for a lower mortgage amount if they apply after January 1 than if they do before December 31, because they will all be stress-tested now… which means, if the interest rate they qualify for is 3.24%, the borrower will be tested at a rate of 5.24% (a +2% increase) to see if they can still qualify for the amount requested. Obviously, folks can borrow less if the rate is 5.24% vs. 3.24%. This will affect new purchases and refinances alike, whether high ratio or conventional (i.e. 20% or more down payment). From […]

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Your WHYs drive your financial goals and strategies… not the other way around!

Your WHYs drive your financial goals and strategies… not the other way around!

I frequently refer to the Three Keys to a Healthy Wallet. The first key is Clarity. This is your starting point, the foundation for financial health. Clarity is knowing what you truly want in your life, knowing what you value, both individually and as a couple, so you focus your spending on those things and those experiences. You end up spending less, AND are more fulfilled in the process. Why do I emphasize the importance of Clarity when it comes to your money? Because Clarity is about your WHYs – these are what make your life fulfilling. You might be thinking “I know what I want” but really, we get pulled in so many directions that we spend unconsciously, leaving us with unmet needs and desires. Have you ever spent money to impress others? How about to appease someone else, even though you did not want to yourself? These are […]

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What you don’t know about money is costing you (tens of) thousands!

What you don’t know about money is costing you (tens of) thousands!

Great to see you here! It means you’re open to learning better ways to get ahead financially than the tired conventional money rhetoric. Let me introduce myself. I’m Marla McAlpine, founder of Healthy Wallet. I’m a Mortgage Agent, Money Coach and Certified Cash Flow Specialist(TM). But what’s MOST important for you to know, is I help homeowners find more money and own their home several years sooner. If you want to build YOUR wealth — instead of your BANK’s wealth — you need the three keys to a Healthy Wallet. They are Clarity, Tools and Habits. The first thing you need is Clarity. This is the foundation to financial health. It is knowing what you truly want to have and to experience in your life, and focus your spending there. You spend less money, and you are more fulfilled in the process. ‘Conventional Money Wisdom’ has taught us that what […]

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Want more money today, AND pay off your debt and mortgage years sooner?

Want more money today, AND pay off your debt and mortgage years sooner?

As a homeowner, would you like all of your debt, including mortgage, paid off several years sooner AND more money in your pocket pocket in the process? If that’s you, keep reading! The reality is that many homeowners will retire in debt and outlive their money. The surprising fact is, despite good incomes and rising home values, many homeowners are actually living pay to pay. A lot of them have debt, and cannot afford to invest and grow their wealth the way they should, or do the things they want. Some even use their home equity to cover expenses. How did we get here? Well, if you are like many folks, you work a lot of hours to make a lot of money, and then you spend a lot of money, without always knowing where it’s going. Then one day you look at your bank account – and the money […]

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October 2016 Changes to Mortgage Rules in Canada – Cheat Sheet

On October 3, 2016, Canadian Finance Minister Bill Morneau unexpectedly announced changes to the mortgage rules in Canada. These took everyone by surprise, including many in the mortgage industry! Several of these changes took effect on Monday October 17, 2016, giving very little time for the market to adjust or react. There is still some confusion regarding these changes, so here is a 4-page ‘cheat sheet’ covering them, courtesy of my brokerage’s parent company The Mortgage Centre. Click here or on the image to view a copy of these mortgage rule changes.  

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Podcast: How To Create A Healthy Wallet – Gary Hibbert as Host

Gary Hibbert from Smart Home Choice and I did a podcast earlier this month — check it out! Here is the link to our podcast page on Gary’s site: http://smarthomechoice.ca/healthy-wallet/ What you will learn on this podcast – Do budgets work? – Should you focus on real estate assets or mutual funds? – How to find $3,300 per month more on average for homeowners – How your financial habits are keeping you back in life – The importance of creating a Behavioural Cash Flow Plan(TM) [referred to as Cash Flow Plan in podcast] Plus much much more!   Hope you enjoy — I’m sure you’ll be surprised at learning that conventional money wisdom doesn’t more you towards your financial goals like you thought they do   .

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How to Be Sure Wedding Bliss Does Not Become a Financial Miss, Part 3

In my posts Part 1 and 2, I covered some of the big, pricey areas that make weddings so expensive, including the venue and wedding gown. Here I am going to wrap up this series by covering a few other expenses that can add unnecessarily to your wedding-day bill: The guest list: Want to reduce your wedding-day expense by thousands of dollars? Cut back on your guest list. You can often save $120/pp and up by cutting back on your list. Think about it… is it really necessary to invite 200+ people that you haven’t seen or been connected to in years, and may not see again after the wedding? Keeping the list limited to the people who matter not only makes for a more enjoyable and intimate wedding, but it ensures that you get a chance to spend quality time with your guests. And, it reduces the temptation for […]

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How to Be Sure Wedding Bliss Does Not Become a Financial Miss, Part 2

In my last blog post, I was talking about how the wedding industry likes to take unsuspecting brides and grooms for a ride and leave them with a hefty bill. Meg Schneider, author of Budget Weddings for Dummies, says “We have been conditioned since we were little children to go for the fairy tale and this is what the wedding industry is selling us. We buy from an emotional state rather than a rational state.” And that’s where they get us! While we believe we make decisions based on logic, in fact as humans we make buying decisions based on emotions and back them up with logic. This is when we are vulnerable to overspending. We get preyed on when we are vulnerable. Think about it: most smart, capable, hard-working women wouldn’t think to spend $3,000 on an outfit they would wear multiple times. Heck, that’s too expensive! Yet they succumb […]

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 Mortgage Agent Lic. M16001744 -- iBrokerPower Capital Inc. (The Mortgage Centre), Brokerage Lic. 10538