6
BE SMARTER WITH
your mortgage.
Finances are a leading source of stress for
couples and families – and a mortgage is a hefty
financial commitment. So it pays to make sure
you have the right plan for your situation.
Renewal is a good time to reassess your
options, such as an open or closed term and
prepayment plans. A "closed" mortgage will
come with an attractive low rate, but you'll be
locked into it for the duration, having to pay a
steep penalty if you want to refinance or even
repay early. Would a more flexible "open" mortgage be better for you? You should also look
closely at the myriad smaller measures that
impact what you'll pay. For instance, switching
from monthly to bi-weekly payments can save
you interest over the life of the mortgage.
7
OFFER to be
A DESIGNATED
DRIVER.
Impaired driving is
the number-one criminal
cause of death in Canada.
Police pulled over more than
90,000 impaired motorists in 2011, and
the numbers tend to spike over the holidays.
Do your part to keep yourself, your family
and all of Alberta safe in the New Year and
volunteer to be a designated driver – for your
own family and friends, or for an organization such as Keys Please or Operation Red
Nose. Check out AMA's handy list of safe-ride
services to offer your services or find a DD:
ama.ab.ca/DesignatedDrivers.
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