Podcast Transcript with Tom Drake - CanadianFinanceBlog.com - Part 1
The following personal finance podcast has been brought to you by Canadian Money Advisor. You can find us at www.cma1.ca/1.
Monty Loree: Hey folks! This is Monty Loree here from Canadian-Money-Advisor.ca. As part of our 100 personal finance podcasts for Canadians, I'm interviewing my first Canadian finance blogger. I've got Tom Drake on the phone here. Tom is the owner and writer of CanadianFinanceBlog.com - Hey Tom, how are you doing?
Tom Drake: Good. How are you Monty?
Monty Loree: Good. So thanks for joining me today. We've got lots to talk about and I'm glad because we're both personal finance bloggers in Canada here. I guess the first question I've got for you is, you've been blogging for about a year now. What got you into personal finance blogging?
Listen to the Podcast with Tom Drake Now!
Tom Drake: Well the timing of it, we had a lot of changes coming up. We'd just gotten married in September of 2008 and we knew we wanted to get out of our townhouse and move up to a full sized house and start a family. So we ended up making a move in May, which was probably the low of the market at the time. The timing was good and the interest rates were record great. Then our first baby came in October.
Monty Loree: Well congratulations. You've had a pretty busy year.
Tom Drake: Definitely a busy year. Gave lots of topics for the website and give me a chance to sort of get my ideas written down and make sure that we're doing the best we could between the new mortgage we got and saving money anywhere we could.
Monty Loree: So you said you live in Edmonton. So the real estate is pretty reasonable there?
Tom Drake: I would say reasonable. There's always a chance that it could occur after as well. But it was certainly a good temporary low, modest winter and it's come back up since the summer a bit. We had to make the move eventually, so if it goes lower later on, it may.
Monty Loree: Also I guess for interest rate, why is – this is the time to get into a mortgage, that's for sure.
Tom Drake: Yes, interest rate was great and with my wife now at home taking care of the child, we want to make sure we had a good rate, so we actually did lock it in for 5 years. Before that, I was always a big fan of variable market. It's just the only way to go. [Zero] is a bit different with the rates. We see everyone to make sure we have that for five years in case it suddenly goes back up again.
Interview with Tom Drake CanadianFinanceBlog.com
The following personal finance podcast has been brought to you by Canadian Money Advisor. You can find us at www.cma1.ca/1.
Monty Loree: Hey folks! This is Monty Loree here from Canadian-Money-Advisor.ca. As part of our 100 personal finance podcasts for Canadians, I'm interviewing my first Canadian finance blogger. I've got Tom Drake on the phone here. Tom is the owner and writer of CanadianFinanceBlog.com - Hey Tom, how are you doing?
Tom Drake: Good. How are you Monty?
Monty Loree: Good. So thanks for joining me today. We've got lots to talk about and I'm glad because we're both personal finance bloggers in Canada here. I guess the first question I've got for you is, you've been blogging for about a year now. What got you into personal finance blogging?
Listen to the Podcast with Tom Drake Now!
Tom Drake: Well the timing of it, we had a lot of changes coming up. We'd just gotten married in September of 2008 and we knew we wanted to get out of our townhouse and move up to a full sized house and start a family. So we ended up making a move in May, which was probably the low of the market at the time. The timing was good and the interest rates were record great. Then our first baby came in October.
Monty Loree: Well congratulations. You've had a pretty busy year.
Tom Drake: Definitely a busy year. Gave lots of topics for the website and give me a chance to sort of get my ideas written down and make sure that we're doing the best we could between the new mortgage we got and saving money anywhere we could.
Monty Loree: So you said you live in Edmonton. So the real estate is pretty reasonable there?
Tom Drake: I would say reasonable. There's always a chance that it could occur after as well. But it was certainly a good temporary low, modest winter and it's come back up since the summer a bit. We had to make the move eventually, so if it goes lower later on, it may.
Monty Loree: Also I guess for interest rate, why is – this is the time to get into a mortgage, that's for sure.
Tom Drake: Yes, interest rate was great and with my wife now at home taking care of the child, we want to make sure we had a good rate, so we actually did lock it in for 5 years. Before that, I was always a big fan of variable market. It's just the only way to go. [Zero] is a bit different with the rates. We see everyone to make sure we have that for five years in case it suddenly goes back up again.
Interview with Tom Drake CanadianFinanceBlog.com
