Trusted Tips and Resources

Trusted Tips & Resources

Pay Your Mortgage Down Faster With Advice From Trusted Saskatoon Mortgage Brokers

Purchasing your home is one of the biggest and most important decisions that you can make. In the latest Saskatoon Mortgage tip we explain how you can pay your mortgage down faster! 

How You Can Pay Your Mortgage Down Faster 

You found a house. You made an offer, and you got approved for your mortgage.

You locked down a phenomenal mortgage rate and chose a lender with flexible repayment options.

Don't Stop There 

There are LITTLE ways you can make a BIG impact on your mortgage’s overall balance and life (amortization).

If you chose a variable rate mortgage:

  • Assuming you got a fantastic discount, your rate was (and likely still is) significantly lower than a fixed-rate mortgage.
  •  Use this opportunity as a strategy and increase your payments as soon as possible to what they would be equal to a fixed-rate mortgage payment
    • That will mitigate some risk with fluctuating Bank of Canada Prime lending rate changes and avoid seeing a payment shock if rates move up a touch.
    • Increasing your payment slightly will mitigate some long-term risk in the variable vs fixed conversation.
    • Assuming the Prime lending rate stays low, you will be saving significant interest in the first years of the mortgage, mitigating the risk of increases on the back end of the mortgage term.
    • This strategy allows you to see the biggest ‘bang for your buck’ while rates are low.
      • More money every month is going to your principal (vs interest) because rates are already so low
      • Every penny in addition to your regular payment goes directly to your principal balance and pays down the mortgage significantly faster.

Payment Frequency Options:

There are multiple options on how you can make your payment

The TWO options that will save you the most money in interest will be ACCELERATED Biweekly and ACCELERATED Weekly

(the accelerated is the crucial part)

An accelerated bi-weekly mortgage payment is when your monthly mortgage payment is divided by two, and the amount is withdrawn from your bank account every two weeks

(vs a Semi-Monthly payment:  your monthly mortgage payment is divided by two and the amount is withdrawn on the 1st and 15th (twice per month) VS every 2 weeks.

Let’s look at an example:

  • The example below uses an example 5-year insured variable rate discount as of June 22/2021
  • The example below is assuming the Bank of Canada Prime lending rate does not adjust through the entire 5-year term
  • Bank of Canada Prime lending rate is subject to change (up or down)
  • Lender discounts (variable and fixed) are subject to change
  • The information below is for example and illustration purposes only

In June of 2021, you took a 5-year variable rate mortgage at Prime (2.45%) Less 1.10 =1.35%

  • Purchase $400,000
  • Downpayment (5%) $20,000
  • A total mortgage with CMHC premium =$395,200.00
  • Amortization=25 years

OPTION (1)

MONTHLY required payment (assuming Prime stays at 2.45%)=$1552.15/month 

Balance at maturity making MONTHLY payments=$326,422.03

OPTION (2)

ACCELERATED BIWEEKLY required payment (assuming Prime stays at 2.45%)=$776.08/every 2 weeks (=approx $1681.50/m when we average it over the year)

Balance at maturity making ACCELERATED BIWEEKLY payments=$318,366.65

(that is a difference of $8055.38 owed in 5 years)

Taking it one step further: 

OPTION (3)

Increase that minimum required payment (calculated on the low variable rate discount) to a payment equal to a fixed rate (we are using 2.09% in this example)

ACCELERATED BIWEEKLY =$845.35

Balance at maturity =$309,963.24

(that is a difference of $16,458.79 owed in 5 years) 

Prepayment Options:

Every lender has flexible prepayment options (allowing you to make extra payments on the mortgage throughout the year without penalty)

This can be done by increasing regular payments (usually a 10-20% increase per year option depending on the lender) OR by doing lump sum extra payments throughout the year.

Each lender has a different policy relating to this- but the flexibility is there, and we are here to help you navigate those options.

By considering OPTION (3) above – you are using your prepayment options to manipulate your payment and lower the amortization (life) and interest paid on the mortgage.


  • HRun some example amortization schedules for you so that you can see the different options and balances owed at maturity depending on your affordability
  • Move in, get your feet wet with the new bills for the first 3-6 months.
  • Then do a review on if you can afford to do even a touch more than your required payment
  • Every little bit counts!
  • Need some help calculating your best options?  
  • We are happy to do complete reviews for our clients whenever you require some extra info! 



Check out our Trusted Saskatoon mortgage brokers 



Trusted Saskatoon Group Benefits Advisors at Wiegers Financial & Benefits Explain Employee Wellness Programs

Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan. Its Saskatoon Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning division. In this latest Wiegers Group Benefits tip, they explain flex benefits for employee wellness. Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits experts.

 

The Future is Flexible: Flex Benefits for Employee Wellness

A proper employee benefits program is a quintessential tool in helping to ensure employee health and well-being. As long as your employees utilize the program, it can help keep them healthy, happy, and focused at work, however, with the changing generations in the workforce – and the fact that millennials now comprise a majority of it – standard employee benefit programs need to change as well.

Younger staff are looking for flexible, digital offerings that let them get what they want out of a plan. They want solutions to support their mental health and wellness. A recent survey indicated that only 53% of Canadians indicated that their mental health was good or very good; this is quite a drop from last year’s report of 67%.[1] An easy solution is to provide an employee and family assistance program (EFAP). While counseling is at the core of an EFAP, it also has many other valuable mental health solutions for employees who are struggling.

A great way to combine the need for flexibility and for wellness is a flex account. A flex account is a pool of money that employees can direct to either a health or wellness spending account. A Health Spending Account (HSA) covers claims for health, dental, and prescription drugs, and is regulated by Canada Revenue Agency. A wellness account, on the other hand, allows you the flexibility of letting your employees choose what they want to be covered.

Some of the most common wellness expenses are gym memberships and sports fees but vet bills and even home office furniture can qualify too. This can be of huge value to employees when at least two-thirds of Canadian businesses have 60% of their staff working from home (and up to 55% of employees will continue to work remotely post-pandemic).[2]

Digital telemedicine offerings are another way that you can offer flexible wellness solutions for your employees. Available through the telephone or through an app, telemedicine offers your employees the ability to connect with a physician or nurse practitioner 24 hours a day, 365 days a year. Canadians are showing higher satisfaction rates when meeting with a doctor digitally and many are even saying that they prefer a digital meeting as a first visit.[3]

Having a range of digital and flexible wellness options for your employees gives you not only a leg up on your competition for recruitment but also lets you take care of your employees’ physical and mental wellness. It’s an investment that for most employers, is well worth making.


Matthew Hill, B.A.

Benefits Advisor, Wiegers Financial and Insurance Planning Services Ltd.


Wiegers’ Benefits Consulting Division includes many consultants and support staff who custom-design the most employee-valued and cost-effective group benefit, personal insurance, employee assistance programs, and retirement plans available. Contact Wiegers today for a no-obligation consultation to determine how they can help you.

Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits Advisors 


How being a Trusted Saskatoon partner positively impacts local Google rankings

Citations, mentions, and SEO explained by Sara, owner of Trusted Saskatoon. 

There are many benefits to being a Trusted Saskatoon partner. My local team spends all of our time and energy promoting the Saskatoon partners on the directory as the best options in their industry in Saskatoon and the surrounding area. Once a business passes our unique verification process, we invest in consistent advertising, and we promote them both individually and as a community of trustworthy, reputable, locally owned, and accountable businesses. We do not do this because they ' bought our favour', we do it because they have proven themselves to be trusted.  Each of the businesses listed on Trusted Saskatoon has signed a contract agreeing to uphold the 5 Trusted Guarantees of Service. 

A lot of work and effort goes on behind the scenes that may not be immediately obvious or understood by our Partners. In this article, I explain how my team helps our partner's websites rank higher in local search independently of their listings on our Saskatoon directory.


The SEO Impact Being Trusted Has On Our Partners' Local Search Rankings

The key to being found online is having correct, consistent information. The internet and search engines really value that, combined with fresh, new, relevant content on sites that are both yours and NOT yours!   
This is where local SEO citations and mentions on high-quality local directories such as Trusted Saskatoon, on social media, and other trustworthy websites and sources come into play.

What are citations, and how do they impact local SEO?

Citations are online mentions of your business on 3rd party websites. If your business is listed on Trustedaskatoon.com, that counts as a local citation. The same goes if your business information is mentioned or featured on 3rd party blog posts or online newspaper/media articles- such as the Star Phoenix new faces new places for example. Citations and online mentions are essential for local businesses since they send out signals telling Google and the other major search engines they can trust your Saskatoon business.

Why do we recommend focusing on citation building?

We all want to be on the first page of Google for our category in our local market for our main target search keywords. If your website ranks higher in search, it should attract more visitors and generate leads, which should lead to more business. 

To be well ranked in local searches, you need to ensure that search engines have all of the correct information about your business. If your most important data is not consistent, search engines are less likely to recommend your website as a high-ranking option for local prospects searching for your products and/or services. 

How The Local Search SEO Point System Works

Google is essentially the head librarian of the web, and as there are over 570,000 new websites added per DAY to the internet, it’s a HUGE job! As such, Google has lots of 24/7 library assistants helping with the massive and ongoing task of ranking the approximately 1.7 billion websites currently listed on the world wide web. If these assistants, or ‘web crawlers’, find links on 3rd party websites that link back to your business’s website, they know it is trustworthy, and you will earn an SEO point. If that backlink is on a quality local website, like www.trustedsaskatoon.com, then you are awarded additional, highly valued local SEO ‘points. The same is true for citations; if web crawlers find your business information listed in important online directories, mentioned on other people's blogs, and featured in articles / local news, it solidifies the fact that they can trust your business information to be correct.

Citation building is a small but essential local search marketing puzzle piece. Our team is working on our clients' behalf to ensure the information we have about them on Trusted Saskatoon is up to date and relevant.

Check out the video below for more information, and if you have questions please do reach out to our team!  

What’s the difference between online citations and online mentions? 

An online mention is when a business or brand is referenced, or "mentioned" on the internet. While often referring exclusively to social media mentions, they also count every time an online publication, website or blog ‘ mentions’  a brand or business name. If the mentions are combined with backlinks to your website and over 300 words of rich, locally-focused content, all the better.  By rich, we mean that the content includes quality, copyright-free images, relevant keywords, embedded videos, location-specific words, etc. If that is the case, then the value of that mention increases A LOT! This is why we ask our Partners to work with us to provide information about their specific business/ industry. We take that information and write quality Trusted Saskatoon Tips that feature them as the local experts in their industry!  

When we tag our Partners on our Facebook, Instagram, LinkedIn, or Twitter platforms, the search engines and web crawlers take note. This, in turn, adds additional SEO POINTS and improves their website’s organic search value. Their businesses and websites gain more ‘authority' within their respective industry categories in local search. Positive SEO leads to increased visibility, which can prompt more mentions and increase SEO points. Less is NOT more regarding citations, mentions, and links to websites.

If our Partners want to maximize our expertise, promotions, and online klout. In that case, they need to provide us with more information in the form of interesting, helpful and engaging expert tips about their industry. Our team will do the rest. We know how to take the content and get as many ‘ SEO points ‘ as possible. We then pay to promote that content locally so it reaches your ideal prospects. The more we can help our clients build a solid citation and link-building foundation, the better they rank in local searches for their categories.  Our goal is for our Trusted Saskatoon Partners to get their unfair share of leads in their categories locally online! 

About Trusted Sara

The founder of Trusted Saskatoon, Sara Wheelwright, has over 27 years of marketing experience. A multi-award-winning entrepreneur and marketer, she expanded Trusted’s services by launching a full-service Saskatchewan digital marketing agency, Trusted Marketing Services, in 2014. The success of Trusted is a testament to the importance of having business integrity in a digital age, where access to free-flowing information constantly influences consumers. Her experiences and insight are relevant to all business owners interested in progressive marketing strategies. Her biggest strength is communicating the complexities of online marketing and how the internet works to local business owners in a way they can fully comprehend. This, in turn, empowers them and helps them compete in this new marketing landscape.


The Trusted Saskatoon 10th Anniversary $10,000 10 week giveaway and introducing the Trusted Troops

Trusted Saskatoon Celebrates Our 10th Anniversary In Style With a MEGA Giveaway! 


" Time definitely flies when you are having fun. On June 1st 2021, it will 10 years since I took the leap of faith and launched TrustedSaskatoon.com to the world! Over the last decade our service has helped 10'000's of local consumers, just like you, find trustworthy local businesses in and around Saskatoon. Over that time, we have promoted and supported 100's of wonderful family, small and locally owned business operated with integrity. I call them our Trusted Saskatoon Partners because they are so much more to our team than 'just clients.' Many of the Partners have been with me for the full 10 years,  and I am eternally grateful to everyone who has been part of this amazing journey! " - Sara Wheelwright 

Trusted as a company has grown from a 1 person business, from the kitchen table of our founder Sara Wheelwright. Now 'Trusted' as a company has lovely offices in downtown Saskatoon and we employ twelve local people. We expanded out of Saskatoon and have a Trusted directory franchise in Regina and a full-service marketing agency, Trusted Marketing Services, that offers everything from social media to animated videos and website development.  

Over the last 10 years, we have been fortunate enough to win multiple awards for entrepreneurship, marketing, and community support. This includes two prestigious Saskatchewan Chamber ABEX Awards, a SABEX Award for Marketing,  and, in addition, Sara has been the recipient of several entrepreneurship awards both locally and internationally. Trusted has donated $10,000's to local non-profits and folks in need, and our local team members have collectively volunteered 1000's of hours in the community. We have also given away $10,000's in prizes to 100's of lucky winners over the years.  We love what we do, and we appreciate every fan, every website visitor,  every Trusted Saskatoon Partner, and every Trusted team member, both past and present! 

Two Trusted Announcements 


To celebrate our 10th anniversary, we are launching our Trusted Troops program AND our 10th-anniversary contest, where we are giving away $10,000 in prizes over 10 weeks!


Q: WHY Enlist As Trusted Troop

A: More chances to WIN & support local! 

By enlisting in our new Trusted Troop program, you will be subscribing to our quarterly newsletter. In our newsletter, we will be sharing exclusive offers and opportunities with our Trusted Troops. This includes Trusted Partner News, exclusive giveaways, Trusted insider information, and offers.  You will also be automatically entered into every contest from now on; no need ever to enter again! If you choose to also enter contests on Facebook and other social media channels, then you DOUBLE your chance of winning! 


Unfortunately, we can't guarantee every one of our fans and troops gets a prize, but we can guarantee that if you DON’T enter or enlist, you definitely WON’T win! 

10th Anniversary, $10,000 GiveAway  - 10 Weeks of Winning


We really love to give and get so much joy from making other people happy. If that supports our Trusted Saskatoon Partners that we promote and partner with, heck, that's a WIN-WIN! We will be announcing the weekly contest every Friday, starting May 28th; we will also share posts about the prizes to be given away that week - all the prizes are from Trusted Saskatoon directory partners and include items as well as gift cards!   


Starting June 2nd, and EVERY week after that until August 4th - 5 winners will be announced. 


There are 3 ways to enter:  


  1. Enter weekly on the Trusted Saskatoon Facebook Page 
  2. Enter weekly on the Trusted Saskatoon Instagram Page  
  3. Enlist as a Trusted Troop - why? 3 Trusted Troops each week will be randomly announced as winners! 


All you have to do to be entered to win is:

  • Comment on the weekly Contest posts on Facebook and Instagram with what you LOVE about Saskatoon
  • Tag A Friend 


Then every Wednesday, starting June 2nd, we will reveal the weekly winners! 

BUT WAIT, THERE'S MORE...




Remember, it ALWAYS pays to be a fan of TrustedSaskatoon.com. 

Supporting Saskatoon businesses, consumers and the community is what we do BEST! 




TRUSTED CONTEST RULES

  • 1 weekly Facebook and Instagram entry per person  - any double entries on a platform will disqualify you that week. 
  • 1 Trusted Troop sign-up per person - any double subscriptions will disqualify you.
  • Winners must pick up their prize IN Person and bring ID within 7 days of winning or forfeit the prize. 


CONSIDERING ENLISTING AS A TRUSTED TROOP? 


BE ASSURED YOU CAN TRUST US. 

  • NO RANDOM SPAM - Just 1 newsletter per quarter ( we all hate too many emails, right?), and the info will be quality, relevant and interesting. 
  • YOUR DETAILS ARE SAFE WITH US - we have a secure and monitored system managed by Trusted IT professionals.  
  • WE WILL NOT SHARE TROOP INFORMATION (Email/ name etc. with a 3rd party) 


Trusted Saskatoon 2020 Mystery Bag Contest. Supporting Local and GIVING back!



The Trusted Saskatoon Team LOVE a good contest!! 


We really like surprises and get so much joy from making other people happy. If that supports our Trusted Saskatoon Partners that we promote and partner with, heck, that's a WIN-WIN!

In our latest contest, we are dusting off our Mystery Bags and packing them with amazing goodies from our partners. 
Over 9 weeks we will be announcing 9 lucky Trusted Saskatoon fans as the weekly Winning Wednesday Winners. 
EXCITING!!! 

Each mystery bag prize will have a value of at LEAST $300.00 and all prizes are from our very own Trusted Saskatoon Partners! 

Unfortunately, we can't guarantee every one of our fans gets a prize, but we can guarantee that if you DON’T enter you definitely WON’T win! 

MYSTERY BAG 2020 - 9 Weeks of Winning


Starting Wednesday from Oct 28th EVERY week a lucky Trusted Saskatoon Facebook Page fan will win! 


All you have to do to be entered for the first 8 weeks is:

  • Pick a mystery bag number:  1, 2 or 3 

  • Comment on the weekly post with your chosen lucky number. 


Every Wednesday on Facebook we will reveal the mystery bag number of the week. 

At that time we will randomly select a winner from the correct entries on the Mystery Bag Facebook post that week. 
The weekly winner will be announced on Facebook and we will reveal the contents of the mystery bag they won! 

BUT WAIT, THERE'S MORE...


On December 23rd's Winning Wednesday we have a special mystery prize.  

To enter that draw you must sign up on the website BEFORE December 22nd here:  

https://www.trustedsaskatoon.com/contest.aspx  


On Dec 23rd at noon we will randomly select a lucky winner from the website entries and they will win ALL 3 bags!! We will call the lucky winner and announce on Facebook live and reveal all the prizes.    


Remember it ALWAYS pays to be a fan of TrustedSaskatoon.com 

Supporting Saskatoon businesses, consumers and the community is what we do BEST!


TRUSTED CONTEST RULES

  • 1 weekly Facebook entry per person  - any double entries will disqualify you that week. 
  • 1 grand prize website entry per person - any double entries will disqualify you.
  • Winners must pick up their prize IN Person and bring ID within 5 days of winning or they forfeit the prize. 

 

Winners and Prizes! 





WEEK 1 - Bag #1 

Winner was Anita Schrutek
Prize: $350.00






WEEK 2 - Bag #2 

Winner was Raelyn Dawn.
Prize: $350.00






WEEK 3 - Bag #3 

Winner was Holly Stasiuk.
Prize: $350.00






WEEK 4 - Bag #1

Winner was Heather Peters
Prize: $300.00






WEEK 5 - Bag #2

Winner was Fanterra Fisher- Belak 
Prize: $425.00







WEEK 6 - Bag #3

Winner was: Jaime Pitz 
Prize: $425









WEEK 7 - Bag #1

Winner was: Pearl Kapiniak
Prize: $300






WEEK 8 - Bag #2

Winner was: Cindy Radcliffe
Prize: $425






2020 GRAND PRIZE WINNER IS ...

Linda Gubbe

Prize: $1500



The last bag  - Community $2000 donation 


The following partners donated : 


Trusted matched the donations and rounded up to $2000.00 - this will be divided equally between 3 Trusted Saskatoon non -profits.




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ADDRESS

S & E Trusted Online Directories Inc
TrustedSaskatoon.com
310 Wall St #209
Saskatoon, SK   S7K 1N7
Ph: 306.244.4150

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