Debt Management Financial Planning

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					Debt Management - Financial Planning
For most Canadians, their mortgage represents the single largest debt they will incur during
their lifetime. Add to that other debts such as credit cards, bank loans and lines of credit and
the monthly payments required can be a significant drain on monthly income.

Managing these payments, while meeting other monthly expenses and trying to save a little
for emergencies often creates an intricate process of deposits, transfers and withdrawals to
and from several different bank accounts. In most cases, accounts spread between different
financial institutions. There is a better way! It’s called Manulife One*

With the use of a unique, all-in-one personal borrowing and chequing account, you can
combine your mortgage, credit cards and other loans with your savings, chequing account and
your income. Now your income can instantly reduce what you have borrowed, potentially
saving you thousands of dollars on interest.

How it Works:

            • A borrowing limit is established based on the value of your home, and
             used to consolidate your current debts.

            • Your income is deposited into your account, reducing your balance
             owing immediately – and you pay interest on that lower amount until
             you spend your money.

            • Live out of the account. Monthly expenses can be paid by cheque,
             debit card, via Internet or telephone banking. Your account serves the
             purpose of your mortgage, line of credit and all of your loans, as well as
             your chequing and short-term savings accounts.

            • Interest is Calculated Daily. At the end of each month, you are charged
             the accumulated interest for the month – you only pay interest on what
             you owe on any given day.

Now you can pay off debt faster, and you can get at your money anytime. If you can manage
your money easily and save thousands in interest, isn’t it time you looked at handling debt
in a new way?

* The Manulife One Account is available through Manulife Bank of Canada. For more information please refer to
                              Cultivating Relationships for YOUR Success
304 - 1755 W Broadway Ave., Vancouver, B.C. V6J 4S5 - - 604.731.1100 or 877.228.2171