Tembo Money Tips for a Rainy Day

Here are a few tips on how to save money in case of a bump in the road or a rainy day. It’s always important to consider ways to save money. These easy methods can make a huge difference in your savings and spending habits.


Move bank accounts

If you’re paying a monthly fee for your checking or savings account, you would benefit from researching some of newest banking offers out there. Not only do some banks offer sign-up bonuses simply for opening an account and setting up direct deposit, but some offer attractive interest rates to new customers as well or maybe even no fees.

Pay Yourself

Designate a certain amount of your paycheque as your pay and try to be disciplined in spending within the amount. Absolutely be sure to pay your bills and keep up with your responsibilities but try to allocate a piece of your pay that you are comfortable with so you can develop discipline and begin to save.

Automate your finances

If paying yourself first won’t work, consider talking to your bank about automatic deposits into your saving account. Your bank will automatically transfer a certain percentage of your paycheck into your savings account every time you get paid. You can also use automated services for paying bills.

Prepay your debt

You can save hundreds of dollars if you put more towards your debt, and avoid the high interest rates. Increasing your payment by even the slightest can save you a good amount in interest costs.

An emergency, accident, workplace change, increase in debt costs, or higher interest rates are all potential scenarios to keep in mind and to be prepared for. It’s always wise to better manage your money and to be mindful of the financial unpredictabilities of life.




Supercharged markets call for supercharged flexibility

In today’s housing market, where prices are rising by double digits and where supply is limited, buyers need every inch of flexibility they can muster to make competitive bids. When detached home prices and even some condo prices are rising by an average of 30% per year, an average deposit is not enough.

For homeowners looking to sell their homes to upsize and cash in on their hard-earned equity gains, Tembo Financial’s equity advance loans provide supercharged flexibility. Many of our clients come to us because they didn’t want to lose a third of fourth bid for the home of their dreams. Some come because they don’t have the deposit they’ll need to downsize and move into a new condo or lakeside cottage for retirement soon enough.

Many smart homeowners are choosing to cash in on this market and are selling. Oftentimes however, we’ve had clients tell us that they were happy to sell but realized they wouldn’t get the proceeds of the sale for months… leaving them in limbo and at a disadvantage with the multitude of buyers looking to get into the market. That’s where Tembo supercharges our clients’ flexibility.

Tembo’s equity advance loans allow you to borrow a chunk of the equity in the home you have sold or are about to sell. Our process is fast and our fees are fair. Tembo doesn’t just help with deposits, we’ve had clients use our services to renovate their homes pre-sale, or to buffer against unexpected moving costs, buy new appliances or furniture, and even to consolidate their debts.

A submitted application can result in money in your account within 48 business hours. Nothing puts a bigger smile on our faces than seeing how happy and pleasantly surprised our clients are when they get their cheques the same day they sign final document packages. Zippy, speedy, fast, we know that in today’s market, every minute counts. Easy and fast, that’s how Tembo helps you make your house into your home.

Have you sold your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations?  Tembo Financial can help!  Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you.  Don’t wait, start today!

*Subject to qualification.