5 Strategies for Getting Control of your Money

Marci • March 26, 2013

Overcoming Bad Money Habits

 

Getting on the road to financial success is within your reach. If you are like many women today, you are probably feeling stuck or perhaps overwhelmed with your life – like you can’t get ahead fast enough, save more money or even know where your money is going. There might be some unconscious thoughts that are holding you back and keeping you from moving forward, building wealth and saving more.
Don’t feel bad. You are not alone. All of us have some bad money habits. Recognizing them and doing something about it will change your life. Thinking about your life and your money, what do you think is holding you back? If you had to define the #1 mistake you are making with your money, what would that be?
The #1 money mistake
In our opinion, the #1 mistake women make is not taking control of their money. It doesn’t matter why – there could be a thousand reasons or excuses. Every woman and every situation is different. But mark my words – it is a lack of control that is holding you back from financial success.
So how do you “get control” of your money? You make it a priority. You empower yourself by really looking at how you earn, save, spend and give away your money. Many of us are doing something with our money we don’t like. And we have all done things with our money we regret. Old habits and feeling overwhelmed by life’s pressures may be holding you back. By gaining personal insight, I guarantee you will get better control of your money.
Living more comfortably
Here’s something else to consider: Women are living longer. The average life expectancy for women in North America is 83.4. The average age of a widow is 56. Taking control over your money has never been more important. Especially if you want to ensure your family’s financial future, and that you’ll have enough money to lead a long and comfortable life. So how do you get control over your money?

5 easy steps to get control

#1 – Get informed.

The more you know about your money, the better decisions you will make. There’s no need to become a financial expert, but you do need to understand the basics about how you earn, spend, share and save your money. Becoming more aware of your habits will help you reach your goals.

#2 – Stop living day-to-day and set goals.

If you want to achieve more, setting goals is the way to do it. It doesn’t matter how much money you have or make, whether you are just starting out or have a successful career, setting goals will give you clarity. It’ll help you to stop squandering money and save more. It’ll inspire you to open yourself up to new possibilities. It’ll make you feel better too!
#3 – Organize every aspect of your life, from your mind and money, to your home, office, and kids.

It’s important to engage your family in your quest for organization, and to learn how to stay organized even when the unexpected throws you off your routine.
#4 – Seek expert advice.

If you don’t understand something, have doubts or are unclear about your money matters or investments, talk to a financial professional. Make an appointment and prepare a list of questions. Being informed will help you make better decisions.
#5 – Get a plan in place to manage your spending.

Making a budget and sticking to it is a challenge for many women. That’s why it is so important to create a budget that matches your spending patterns. And this will help you to set and achieve your financial goals. It’ll keep you motivated – and motivation is key to success.
Taking control of your money means investing in you. It means you have to start doing things a little differently. I know you want to do it. I know you can do it. And there’s no better time to start than right now!
Just follow the 5 steps – outline your spending habits, set goals, get organized, seek expert advice, and create a budget that works for you.
Start fresh. Get on the road to financial success.

Anita Saulite, MBA is founder of Savvy Money Gal, and Ways To Save, offering a fresh perspective on personal finance and holistic strategies to manage money. As a certified life coach, who champions emotional well-being through a 3 step learning program Anita Saulite is committed to strengthening women’s financial knowledge through learning. An engaging speaker, who has presented money management strategies and Employee Money Wellness programs, understands the issues surrounding the psychology of money. Anita teaches how to navigate change and get on the road to financial success. For 20 years Anita worked in senior positions at major financial institutions in Toronto Canada, and has developed award winning programs dedicated to personal debt financing and financial literacy for women. Guest speaker for the City of Calgary in 2012, and featured on CTV Pattie Lovett-Reid Show in 2013 to discuss women and finance. In the news in 2012 at Yahoo! Finance Canada, Reuters, Bloomberg, and Businessweek.

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Monthly vs. Biweekly Mortgage Payments: Which Is Better?

By Marci Deane • October 14, 2026
How Mortgage Payment Frequency Affects What You Pay Over Time You’ve probably heard the saying that there are two certainties in life: death and taxes. When it comes to your mortgage, there’s really just one certainty—you’ll repay what you borrow, plus interest. What is flexible, though, is how often you make your mortgage payments. And that choice can have a meaningful impact on how quickly you pay down your mortgage and how much interest you pay over time. The Six Mortgage Payment Frequencies Most lenders offer the following payment options: Monthly – 12 payments per year Semi-monthly – 24 payments per year Bi-weekly – 26 payments per year Weekly – 52 payments per year Accelerated bi-weekly – 26 payments per year Accelerated weekly – 52 payments per year Standard Payment Frequencies The first four options are designed to align with how you get paid. For example: Paid monthly? Monthly mortgage payments may make sense. Paid every two weeks? Bi-weekly payments can align nicely with your cash flow. With these standard options, regardless of how often you pay, the total amount paid over the year is the same —it’s simply divided into more frequent payments. What Makes “Accelerated” Payments Different Accelerated payments work differently—and this is where the real savings happen. With accelerated bi-weekly or accelerated weekly payments, you’re paying a slightly higher amount each time. That extra money goes directly toward reducing your mortgage principal, which lowers the interest you’ll pay over the life of the mortgage. A Simple Example Let’s assume a $1,000 monthly mortgage payment: Monthly: $1,000 once per month = $12,000 per year Semi-monthly: $500 twice per month = $12,000 per year Bi-weekly: $1,000 × 12 ÷ 26 = $461.54 every two weeks = $12,000 per year Accelerated bi-weekly: $1,000 ÷ 2 = $500 every two weeks = $13,000 per year With accelerated bi-weekly payments, you effectively make two extra payments per year without having to think about it. Those extra payments reduce your principal faster, which lowers interest costs over time. Accelerated weekly payments work the same way—you just make smaller payments more frequently. Why This Matters Long Term While it’s difficult to calculate exact savings due to variables like interest rates, terms, and amortization changes, maintaining an accelerated payment schedule over the life of your mortgage can reduce your amortization by up to three years and save a significant amount of interest. The Bottom Line Accelerated payments are a simple, automatic way to lower your overall cost of borrowing—without needing to make lump-sum payments or drastically change your budget. If you’d like to see how different payment frequencies would impact your mortgage specifically, feel free to reach out anytime. I’d be happy to walk through the numbers with you and help you choose the option that fits your goals.

How to Maximize Your Mortgage Renewal Opportunity

By Marci Deane • October 7, 2026
Your Lender Is Not Obligated to Renew Your Mortgage Many homeowners assume that if they’ve made every mortgage payment on time, their lender is automatically required to renew their mortgage at the end of the term. That’s a common belief—but it isn’t true. When you sign a mortgage, you’re agreeing to a contract for a specific term . Once that term ends, the lender has the legal right to either renew the mortgage or call the loan . There is no obligation to offer a renewal. In practice, most lenders do renew mortgages—but certain situations can prevent that from happening. Reasons a Lender May Decline to Renew A lender may choose not to renew if: Mortgage payments were missed during the term A bankruptcy or consumer proposal has occurred There is a separation or divorce Employment or income has changed A borrower on the mortgage has passed away The lender no longer prefers the property’s location or market The lender is no longer licensed to lend in Canada Even one of these factors can change how a lender views the risk. Why This Matters Because renewal is not guaranteed, waiting until the last minute can put you in a difficult position. Understanding this reality early gives you time and control. How to Protect Yourself at Renewal The best approach is to be proactive. Ideally, you should begin reviewing your options 120 days before your mortgage term ends . This gives you enough time to explore alternatives and make informed decisions—rather than reacting under pressure. Even if your current lender offers a renewal, that’s just one option , not automatically the best one. The lender that was right for you years ago may no longer offer the most competitive rate, terms, or flexibility today. The goal at renewal isn’t convenience—it’s reducing your total cost of borrowing and choosing terms that align with your current situation. Why Work With an Independent Mortgage Professional Working with an independent mortgage professional ensures someone is advocating for you , not the lender. Instead of being limited to one set of products, you can compare options across multiple lenders and choose the solution that best protects your interests. Final Thoughts Whether your lender is offering a renewal or not, the smartest move is to review all your options before signing anything. If your mortgage is coming up for renewal—or if you want to plan ahead—feel free to connect anytime. I’d be happy to help you protect your options and make a confident decision.

How Property Type and Condition Influence Mortgage Financing

By Marci Deane • September 30, 2026
Why the Property Matters When You’re Qualifying for a Mortgage When qualifying for a mortgage, lenders typically look at four core areas: Income Credit Down payment or equity The property itself Most buyers focus heavily on income, credit, and savings—and for good reason. But even if those boxes are checked, the property can still determine whether a mortgage is approved. Why Lenders Care About the Property From a lender’s perspective, the property is the collateral for the mortgage. In the unlikely event of default, they need to know the home can be sold quickly and at fair market value to recover their funds. Because of this, lenders are careful about the condition, value, and marketability of any property they finance. Homes that are in poor repair, unconventional, or overpriced can raise red flags—even when the borrower is well qualified. Appraisals Are Always Part of the Process Every mortgage requires an appraisal to confirm value. Insured mortgages (through CMHC, Sagen, or Canada Guaranty) often use an automated valuation model completed online. Conventional mortgages typically require a full, on-site appraisal by a certified appraiser. This appraisal is not optional and happens after an offer is accepted—not at the pre-approval stage. Why Pre-Approvals Aren’t a Guarantee A pre-approval is a great first step, but it only assesses you, not the property. Once you’ve made an offer, the lender must approve the specific home you’re buying. Understanding this upfront helps avoid surprises and confusion later in the process. The Risk of Buying Without a Financing Condition In competitive markets, buyers sometimes remove financing conditions to strengthen their offer. However, this comes with risk. If the appraisal comes back low—or the lender is concerned about the property’s condition—you could be denied financing after the offer is firm. In that scenario, your deposit may be at risk. Buying a Home That Needs Work If you’re considering a property that isn’t in perfect condition, there are solutions. A purchase plus improvements program allows you to buy a home and include renovation costs in your mortgage. The process is structured and requires planning, but it can be an excellent way to turn a fixer-upper into a great long-term investment. Final Thoughts Mortgage approval isn’t based solely on your finances—the property matters just as much. Knowing this ahead of time helps you make smarter offers, reduce risk, and plan more effectively. If you’re buying a property that needs work or want clarity on how a lender may view a specific home, feel free to reach out. I’d be happy to walk you through your options and help you plan with confidence.