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My advice • June 01, 2022

Start using your personal line of credit

The financing you need, with the flexibility you want.

Now that pandemic restrictions are softening, we are starting to look ahead with much more optimism. A personal line of credit (PLOC) is a great way to finance your projects. It’s an accessible financing solution that offers the funding you need with the flexibility you want, without applying for a loan every time.

Get back to what you love

Life is finally returning to normal, and you may be starting to think about ways to get out and enjoy yourself. This might mean dining in at restaurants again instead of getting takeout or going to the movies instead of binge watching TV at home. And now that travel restrictions are ending around the world, you might be looking ahead to a long-delayed vacation. But a PLOC isn’t limited to big-ticket items: it’s a tool for funding smaller expenses as well if you need to borrow additional funds.

Make your home more comfortable

The pandemic has profoundly changed the way we live. Many people have moved out of the city, opting instead for a more relaxed lifestyle and greater access to green space. If you’ve moved and have had some time to adjust to your new home, this could be the perfect time to upgrade your living and outdoor spaces. Maybe the kitchen layout isn’t quite right, or you’ve just noticed a leak in the roof? How about the patio? Whether you’ve planned ahead or are facing unexpected repairs, a PLOC gives you easy access to the funds you need.

The new corner office

Another big change was the shift to working from home. With many jobs staying remote for the time being, it could be time to upgrade from the kitchen table and create the home office you need. Whether that means more comfortable office furniture, a new computer, or even soundproofing to keep outside noise at a minimum when you’re in a virtual meeting, you could benefit from using your PLOC to invest in your new workspace.

Consolidate your debt

If you have debt with high interest rates, consolidating higher-interest debt into a PLOC can increase your cash flow and reduce your interest expenses. That way, you can pay off debt faster and potentially save money.

Protect your loved ones from life’s uncertainties1

If the past few years have taught us anything, it’s that we should always be ready for unexpected surprises. What would happen to your family if the worst occured? Consider Line of Credit Insurance1 and benefit from these advantages:

Peace of mind: The balance of your line of credit will be reimbursed upon the death of one of the participants, in accordance with the terms of the insurance.

Rest easy: You’ll have accidental death coverage, at no additional cost, from the time the application is signed and during the application process.

Avoid surprises: Your premium is calculated according to the balance used.

 

Visit our website to learn more, or contact an advisor.

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