With the rising interest rates, paying down your mortgage and debts may seem like something that will happen far, far, far in the future. That’s why I wanted to show you guys the Manulife One account, and how it may help you reach your goal of being mortgage free faster!
Manulife One combines your mortgage, debts, payments, expenses and income all into one account. It uses your income and your savings to reduce your borrowing costs so that you can become debt-free sooner. Your savings or investments that are transferred to your Manulife One account, as well as your income that is deposited into your account each month, goes directly towards paying down your debts, reducing your interest costs, until you need to withdraw funds. So instead of having your savings earn the little interest it’s earning in a savings account, have it work much harder for you by reducing the principal amount that your interest is being calculated on.
Watch this short video to get a better understanding of how the Manulife One account works or send me a message if you have any questions!