My goal for Ratehub.ca has always been to build a site that empowers Canadians with the information they need to make smart financial decisions. To do this, we write our content in the simplest terms possible – so users can come to the site and get all of their questions answered, with examples and mortgage calculators at their fingertips to help further their understanding of how mortgages work.
You may or may not know this, but everyone on the team is interested in personal finance, to some degree. Beyond just mortgages, we’re constantly chatting about savings strategies, investing (specifically in Bitcoin), budgeting and more. And when we finally got our hands on a copy of Preet Banerjee’s new book, we nearly fought over who could keep it, before finally deciding we had to do the right thing and give it away.
In Stop Over-Thinking Your Money!, Preet lists 5 simple rules of financial success: disaster-proof your life, spend less than you earn, aggressively pay down high-interest debt, read the fine print and delay consumption. In typical Preet fashion, he explains each rule in simplest terms (which we love!), by giving clear examples readers can relate to.
If we had to pick a favourite rule of the 5 he lists, it would be to aggressively pay down your high-interest debt. (Read the fine print is a close second!) Technically, mortgages usually come with some of the lowest interest rates on the market, but we still believe homeowners should take advantage of their prepayment options, in order to pay off their mortgages sooner.
Now, we want to hear what your favourite rule is…
HOW TO ENTER
To enter to win a copy of Preet’s book, tell us what your favourite simple money rule is and why by:
- Leaving a comment below (using Google+), and/or
- Tweeting with the hashtag #simplemoneyrule
One winner will be chosen and announced in a blog post on Monday, March 31st.