More Money Podcast - 079 Why You Should Always Hunt for the LowestRates - Justin Thouin, CEO of Lowest Rates

Starting point is 00:00:00 Hello and welcome to episode 79 of the Mo Money Podcast. And sad news, the last week of the Mo Money Podcast for season three. Don't worry, I'm not ending the Mo Money Podcast. I love it too freaking much. So no, no, no. This is the last week of the Mo Money Podcast for season three. I will be restarting the Mo Money Podcast season four, Wednesday, January 11. So make sure to put that in your calendar or subscribe. So when a new episode airs, it's in your podcast app on your phone. So for this episode, I am going to be interviewing Justin Thuan. He is the CEO of LowStrates.ca. So you know, they have sponsored a number of my episodes, and they're all about finding you the best rate on your mortgage or auto insurance,

Starting point is 00:00:51 life insurance, all that good stuff. And now for this episode, I'm going to be talking to Justin about why he started lowest rates, how he became an entrepreneur, why is he so passionate about educating people about finding the best rates, and specifically kind of honing in on educating millennials. I am a millennial, and that's why I think I really was drawn to Lowest Rates. I kind of got together with Lowest Rates around this time last year, actually, when I was doing the Rich and Fit 21 Day Challenge with my business partner, Jacqueline Phillips. And I was looking for some sponsors so we can give out some prizes to people because it was a free challenge. And we wanted to offer some fun stuff for people

Starting point is 00:01:34 who registered. And they were totally up for being involved. And they were involved. They did the workouts. They have photos to prove prove it so i'm a big fan of lowest rates and i'm super excited to talk to justin about uh how lowest rates came to be what it's all about and uh what his kind of mission in life is which is uh super cool he's a very cool passionate guy so without further ado here's the interview with justin so thank you justin for joining me on the mo money podcast i'm excited to chat with you thank you, Justin, for joining me on the Mo Money podcast. I'm excited to chat with you. Thank you very much. Appreciate it. I like the name, by the way. Mo Money, Mo Problems was my favorite song in university, which dates me a little bit.

Starting point is 00:02:13 No, it's one of my favorite songs in university too. And that's kind of why I originally had my blog as Mo Money, Mo Houses, because I just wanted to meld both of those things together, personal finance and my love of Mo Money, Mo Problems. Good call. wanted to meld both of those things together, personal finance and my love of Mo Money Mo Problems. So I would love to start this episode by getting to know you a little bit more. So let's kind of get a little perspective on you. Like, where did you go to school? Why are you interested in personal finance? Did you always want to be an entrepreneur? Let's you go. Absolutely. So my name is Justin Tuin. And I guess as far back as I'll go is university

Starting point is 00:02:48 because before that, it's probably a little bit boring and irrelevant. But I went to Queen's School of Business, graduated in commerce there in 2000, which again dates me. But after that, I didn't know what I wanted to do. So I went to work for Maple Leaf Foods. They had something called a management trainee program where you got to over three years do three different kind of areas of business. So I did marketing for a year. I did sales for a year and I really enjoyed product management slash marketing. That was kind of the area that I wanted to focus. And I got pulled in a very different direction because I moved to a company called Cryptologic,

Starting point is 00:03:32 which was a publicly traded online gambling company in 2003. And at that point, I didn't know really anything about gambling. And the internet, I knew a little bit about because I used it, but certainly wasn't a massive area of interest for me or an area that I thought I would go into. But my direct boss at Maple Leaf, as well as the CFO of Maple Leaf moved over to Cryptologic. And so I made the move there. And it was a great move. I stayed there until 2010 and I was able to really move up the ranks to an executive management position, a corporate officer position, really focused on the areas of product management and business development. I got to travel all over

Starting point is 00:04:19 the world. I got to make a lot of mistakes, which was good because I think you have to make mistakes in your career because you don't know what you don't know. And I was able to really prepare myself for future success. And in 2010, I reached a point where I was spending two weeks out of every month in the UK for work. And at that point, we were about to have our first child. And it just didn't make sense for me to be in Europe for half the time anymore. And so I had to decide what I wanted to do. So I left Cryptologic. And for a couple of years, I tried a number of different things. I tried consulting, and I realized I didn't like that because I got frustrated by putting forward ideas and then not being there to implement them. And then I decided, you know what?

Starting point is 00:05:14 Now's the time to, you know, become an entrepreneur, try to do something that I always wanted to do. You know, it was the right time because before that, my wife, she's an emergency room doctor. I had to pay for her residency in her medical school. And, you know, there's a big expense to that. So I wasn't in a position where I could really cut my salary significantly. But at that point in time, you know, she was, you know, now an emergency medicine doctor. And, you know, we had saved a good amount from my corporate career where I'd done very well. So I was able to try something where I could commit my time and not have to pay myself anything for a period of time, which I think is really important. And so I was ready to jump into something as an entrepreneur. And when I was in

Starting point is 00:05:58 the UK, where I spent a lot of time saying I was in the UK, when I was in the UK, I always saw commercials for financial rate comparison sites. So sites like moneysupermarket.co.uk, basically the sites that just allow you to compare anything to do with personal finance, whether it's a mortgage, any type of insurance, any type of banking, investment, even things like cell phones and utilities. So anything personal finance related. They started back in 1998. So, you know, the interesting thing is in the UK, the way that we in Canada compare flights, hotel, any type of travel, even used cars, they compare personal financial products. It's really part of the UK culture. And 70%, 70% of all personal financial transactions start on comparison sites. Really? So that's really, that's really where the idea for lowest rates was born or kind of germinated. And so in 2012, my partner and I launched Lowest Rates. We launched the site at the end of 2012, lowestrates.ca. We also launched a US site, lowestrates.com, and we own a UK make this successful with that $150,000, or if we run out, then we took our best shot, and it's time to go back to the corporate world.

Starting point is 00:07:34 And it wasn't necessarily a popular decision with my family. You know, my wife, both her parents are teachers and she's a doctor. And so she doesn't come from an entrepreneurial mindset. And she said to me, I remember one day, Justin, I don't think people are going to go online and compare mortgages or insurance or credit cards. They're just going to keep going to their bank like they always have. You know, people trust the banks. They don't know who you are. You have $150,000. It hasn't changed till now. How are you going to disrupt it? Yeah. Right. So I think she, she was supportive of me doing something different, but I think she thought it was going to be a difficult road to hoe, um, with this particular challenge. But,

Starting point is 00:08:21 you know, I, I, you know, I respectfully disagreed and I think you have to. I think as an entrepreneur, you have to really believe in your gut so much that what you are doing is going to be something that consumers are going to value. And you have to believe that no matter how many people tell you that it's not going to work or no matter how people tell you, here are the reasons why it might not work. You have to believe that in your gut and you have to persevere because there's going to be a lot of bumps in the road. So despite all that, we launched it. And the reason that I really believed that it was going to be successful is twofold. So one, if I looked at every other category that people consume or interact with in Canada or in North America, like I said, travel, what do they do? They go to Expedia or Kayak. If it's for used cars, they go to AutoTrader.

Starting point is 00:09:14 Even for purchasing books or household items, they go to Amazon to compare. And yet when it comes to the area that takes up most of people's money, personal finance, people weren't comparing and they're still not comparing. The default was and still is, I'm going to go to one of the big five banks and take the first offer that I'm given, or I'm going to stay with my insurance company or broker that I've been with just because I don't know any different or because it's just, it's too much hassle to compare, right? Or I don't feel comfortable with haggling. So, you know, I saw a real opportunity to make people, to improve people's lives and to make it fast and easy to save people money in the area they spend most of their money. And also I had precedent from

Starting point is 00:09:59 other countries where this had been successful. Like I said, I was in the UK and everybody did this in the UK. So I thought that there was a real opportunity for this to work and that people would care about this. The big challenge was, okay, so how do you get people to come to your site if you only have $150,000? And so that was the challenge that we launched with in 2012. That's a long-winded answer to kind of how I got to 2012. No, that's really, really interesting.

Starting point is 00:10:29 And that's interesting that you bring up that the UK was already doing this. So yeah, it's like in my mind, that would be like, obviously we should do something like this in Canada if it's so popular in the UK and our cultures are relatively similar. And there's absolutely an opportunity. And so this kind of brings me to my next question. What I do really like about lowest rates is it is very focused on millennials, it seems like. I know lots of your employees are millennials,

Starting point is 00:10:53 your audience is millennials, the blog posts you write are very millennial focused. Why did you want to kind of hone in on that group of people? Is it just because they're just more tech savvy and they'd probably be more interested in like going online to look at rates? Whereas maybe like your mom and dad, you know, generation probably wouldn't. Yeah, I think there's two, there's three primary reasons. So the first is that they are more tech savvy and they are going online to compare things probably more than older people would. You know, the second reason is that they inherently trust online more than potentially

Starting point is 00:11:38 older generations. They don't inherently feel like, oh, you know, if it's online, I'm going to get scammed. Exactly. But I think the most important reason is because they don't already, in many cases, have relationships with financial institutions. If you're older and you've always had a relationship with the Royal Bank or TD or Scotiabank or CIBC or National Bank, it's going to be very difficult or it's going to be more difficult to convince you that there's a better way. Or if you've been with the same insurance company for 20 years or if you've had the same credit card for 10 years,

Starting point is 00:12:12 a lot of people aren't looking or even open to the thought of, okay, there's a different way to do it. Maybe I should take some time and go online and compare. So these people don't have those ingrained relationships and they're looking online for the answers to their So these people don't have those ingrained relationships, and they're looking online for the answers to their questions because they don't know where to go. They don't know where to start. And so we provide that place to start

Starting point is 00:12:35 where they can explore their financial options, become empowered to make the right decisions by reading our blog, reading our news posts, reading our content. So that's probably the primary reason that we've focused on millennials because they're the most open and they're seeking out the solutions. But the fact of the matter is that our site is useful for literally any Canadian who needs to make a personal financial decision. So, you know, while millennials are probably the early adopters, you know, we really target all Canadians with our site.

Starting point is 00:13:14 Yeah, absolutely. And it's true what you bring up because I, at least in my experience, as people I know, it's like before we make any kind of purchase, no matter what it is, whether it's like a trip a hotel um or yeah mortgage whatever it's like like I feel actually less comfortable going to just one institution and then shopping around because it's like I think also millennials we just don't have time or we'd rather just put our energy and time into something more fulfilling than like shopping around one by one we want to go to like one place or tops two places to just find the answer or just like, just give me a breakdown of what are my options and then I'll kind of make a decision from that. So that's what

Starting point is 00:13:54 I totally see lowest rates kind of fitting that need for millennials because we just, yeah, we just give us some options and then we'll choose. I don't have time to go to like all of the banks and ask them how they're doing. No, absolutely. And that's what we're here to do. We're here to save people time and save people money. You know, we recently did a study that was really, really interesting. And we compared what people thought were important versus what people spend their time on. And of course, people said, yeah, choosing my insurance and choosing my car insurance is important because I spend a lot of money on it. But in terms of what they spend time on, people were spending more time

Starting point is 00:14:30 choosing a piece of furniture or choosing the color of their wall or choosing a vacation. Things that impact their wallet a lot less, but things that are more enjoyable. So we really want to make it fast and easy for people to save time and money. Because I don't think that any Canadian should need to haggle. I mean, it's not fun. Personal mortgage experience for me, there's two reasons I started lowest rates. One was because I saw a massive opportunity in Canada because the government doesn't teach personal finance. High school, universities, colleges don't teach personal finance. And two, because I saw this working in other countries. But also, I just don't think people should have to haggle.

Starting point is 00:15:20 A personal experience, when I was renewing my first mortgage, I asked the bank, so why is my mortgage rate going up? Yeah. And they said, oh, I'm sorry, you know, bank rates are going up. And I said, well, you know, this isn't fair. I've been a good client. Yeah. Why would my rate go up? And they said, that's just the way it is.

Starting point is 00:15:36 Interest rates have gone up. And I said, jeez. So I then decided to call some other banks. Yeah. And lo and behold, the other banks were offering lower rates when I told them the rate I had with the incumbent bank. And then I went to the incumbent bank and I said, well, these guys offered me a lot less than you've offered.

Starting point is 00:15:55 And lo and behold, the incumbent bank lowered their rate to keep my business. And so that wasn't a pleasant experience. I don't have the time. And it's not pleasant to have to go and haggle with your bank. There should be a place where you can just go, get the company's best offers initially, and choose from there. Because it isn't always about the rate. There's other considerations.

Starting point is 00:16:18 And on our site, we make it clear in terms of what those other considerations should be. But there just had to be an easier way. And that's one of the personal reasons why I think lowest rates is so important and why we wanted to launch it. No, I totally agree. And I think also a great part of the website is, you know, especially for me when me and my husband were getting ready to look for a mortgage, we actually didn't know. We're like, what are rates right now? We don't know. Like, we don't, you know, and it's almost uncomfortable asking people that you know,

Starting point is 00:16:46 who recently got a mortgage, like what kind of rate did you get? Like, you don't want to be, make someone uncomfortable. It's still kind of a taboo subject, but so it's nice to just like go online and just like, okay, what are kind of the average rates? So if you were doing some kind of shopping around or going with a broker or going with a bank, you can kind of know, oh no, no, no, that's too high because I went online and this was way cheaper. So it's good to have those things in mind for sure. So you kind of mentioned earlier that, you know, the government, you know, schools, no one really teaches personal finance. It really is one of those things. It boggles my mind that it's not because it is so important. It can impact your life incredibly. I mean, you know,

Starting point is 00:17:25 if I hadn't really started educating myself about personal finance, you know, six, seven years ago, I don't know what kind of spot I might be, you know, making way less in a job that I wasn't really passionate about because I didn't know there was like a way out basically. So I know, you know, another aspect of Lois Rice is yes, there's, you know, the comparison site, but it's also, you know, full of resources to educate people about personal finance. So I want to kind of talk about from your perspective, what do you think are some of the most important things that, you know, specifically millennials that are going to your website should know? And we could talk about, you know, why it is so important for them to, we can start with that. Why is it so important

Starting point is 00:18:03 for millennials to do the research when it comes to rates? Because, you know, sometimes I think people don't realize a percentage point can mean thousands of dollars. Yeah, absolutely. I mean, if you look at mortgage, for instance, you know, most people have their mortgage for 25 years. And it is very, very easy to save, you know, especially in Toronto, because prices are so high, you know, over $50,000, $100,000 in mortgage interest over the life of your mortgage, simply by comparing and getting a slightly lower rate. It is massive how much you can save. You know, car insurance, you can save about $750 on average if you compare versus not compare per year. You know, when it comes to things like credit card debt, credit card debt is one of the worst financial sins. You know, if you go online

Starting point is 00:19:01 and compare, you can find options like balance transfer cards, which allow you to take all of your debt from different cards, put them onto this one card, and for 12 months, not pay any interest, which will kind of allow you to consolidate your debts and hopefully pay them off more quickly. There's so many different options that exist that you might not know about unless you come online. And those options are essentially what we're here for. We're here to allow consumers to explore their financial options. But like you said, we have blog pieces where we kind of offer how-tos and suggestions for not just the products we offer, but also we talk about taxes. We talk about investing. And as our company grows and gets older, we're going to offer products in those areas also.

Starting point is 00:19:50 But it's just, I would encourage people, Canadians, to read about personal finance. Read great personal finance books. Go online, find your favorite personal finance sites and read about them. Because, gosh, if you don't, then you're going to make a lot of bad decisions. Because I don't know where else you're going to learn it. I did not learn it. And I took a commerce degree. And I knew very little about personal finance coming out of university.

Starting point is 00:20:15 So where did you learn about personal finance? Because you seem very financially savvy. Where did that kind of come? Was it just one day you just, huh, I'm interested in this? Well, I think it was out of university. I was making a reasonable salary, but it's expensive to live in Toronto. And so I didn't have very much, if anything, at the end of each month. And I had to save, you know, for a wedding, wedding ring. And I was so, so I was literally counting pennies trying to figure out, you know, how to, how to thrive. And so, you know, it's important to, it was important for me to say, okay, how can I save as much on taxes as possible? With the money I have to invest, how can I invest it as efficiently as possible? So pay as low fees as possible. So I just read. I remember reading books like The Wealthy Barber. Classic. Yeah. I remember books like Rich Dad, Poor Dad. I've been

Starting point is 00:21:14 a subscriber of Money Sense Magazine for quite a long time. So it was really before websites. But it was just, it was reading the books and taking it upon myself to learn. And it's just kind of snowballed since then. Yeah. Well, I find, especially when I first started, it was more just figuring out how can I not be broke anymore? Because I'm sick of being poor and I want something better. And then you get to kind of the next level once you've kind of made some better choices, changed some bad habits. You're like, huh, okay, so I'm at this level.

Starting point is 00:21:45 But how can I get to the next level? And I think that's the kind of beauty of personal finance. It never really ends. You can kind of, you just keep on growing and growing. And then you kind of realize, wow, I can afford things that I never thought I could afford. I can have a lifestyle I never thought I'd be able to have. I mean, for me, my goal was always to be able to kind of have a, you know, an elevated lifestyle that my parents, my parents, you know, my goal was always to be able to kind of have a, you know, an elevated lifestyle that my parents, my parents, you know, did their absolute best, but they got married really young and they had three kids very soon. And so they had to, you know, really stretch their dollar.

Starting point is 00:22:15 And I'm like, I'm so glad for all the skills and habits that I've got from them because they live that way. But I don't want to live that way. I want to kind of do the next step better. So if I have kids, it won't be, you know, as hard, you know, deciding whether we can pay for university for them or give them an allowance and stuff like that. So that's absolutely I think the beauty of, you know, taking this opportunity, especially when you are, you know, young, old, whatever, you know, kind of this old saying is like, you know, the best time to start learning about personal finance or investing saving is to yesterday and then the next best is today.

Starting point is 00:22:49 So I think a lot of people will get a lot of stuff out of what's on the lowest rates website, but also some of the books that you mentioned. Wealthy Barber was like, I'm pretty sure that was the first personal finance book I ever read. Yeah, it's a great book. Yeah. Yeah, that saying that you had, there's a Chinese proverb that one of my first bosses told me. He said, so Justin, when's a Chinese proverb that one of my first bosses told me. He said, so Justin, when's the best time to plant a tree? And I said, I don't know.

Starting point is 00:23:11 He said, 20 years ago. When's the next best time? You know, today. So absolutely, there's no time like the present. You can't change the past, but you can start learning now. And the beauty, it's interesting once you get into it, and it's something you need to stay on top of because things evolve, right? There's new products that consumers can take advantage of, you know, to better themselves and their financial situation that are happening all the time. And also, there's changing tax rules that change all the time. So it's really

Starting point is 00:23:42 important to stay on top of it. And some of them can be very, very complex. So it's really important to be able to find websites or magazines or books that can simplify all this and make it palatable and interesting. And that's what we're trying to do. And we need to continue to do that better. We're trying to make personal finance more interesting, less intimidating, and less of a mystery so that people can feel empowered and people can feel like they're armed and ready to make the right decisions. Absolutely. I think that's a great word that you used, empowered, because I've been in this world for a while. I feel pretty empowered and I'm like, I know what I'm talking about, but it can get really

Starting point is 00:24:20 intimidating, especially when you have a financial advisor you have to go to, and they're saying all these things. If you're like not quite sure, you might be, you know, kind of talked into something that may not be the right thing for you. So the best, you know, way to do is just like you said, is kind of arm yourself with as much personal finance knowledge as you can. And sometimes it means just like going it on your own, you may not need a financial advisor, you might be able to kind of figure it out on your own. Yes, because people like personal financial advisors, everyone has an agenda, right? They're trying to sell you something. And that's what we wanted to make sure. Lowest rates had no agenda. We are completely impartial. We don't care which bank you end up going with, which insurance company you end up going with, which credit card you go with.

Starting point is 00:25:05 We're here to provide you impartial information and to allow you to explore your options and make the right choice for your unique needs. And I think it's really important to understand where you're getting the information. It's another reason why we don't have any advertisements on our site. Obviously, we can make more money if we had banner ads on our site, but we don't have banner ads on our site because we truly want to be impartial. We don't want to be kind of steering people in a certain direction just because they're paying us more money. And because you brought that up. So how does lowest rates, if you don't, you know,

Starting point is 00:25:38 kind of do advertising or take money from like sponsors or whatever. So how do you make your money? So I analogize it to a dating service because we are connecting people or we're connecting entities. So we're connecting the consumer with banks, brokers, insurance companies, credit card companies, and we're paid a referral fee. So for a mortgage, you'd come to our site.

Starting point is 00:26:02 If you found a rate you're interested in, you'd fill out your contact details. We'd pass that along to the broker or bank who would contact you, and we'd get paid for that. Similarly, on car insurance, you'd fill out a form. We'd show you 10 or so quotes from a number of different insurance companies. And whichever one was lowest, we'd pass your information to them so that they could contact you and speak with you about that. We make our money in most cases, whether you end up purchasing with that broker

Starting point is 00:26:33 or financial institution or not. We're simply here to provide you with your options. And how do you choose what brokers and companies that you work with? Is it kind of open to anybody or do you kind of select the ones that you want to work with? Is it kind of open to anybody or do you kind of select the ones that you want to work with? It's open to anybody. It was more open to anybody when we started. But no, it's definitely open to anyone.

Starting point is 00:26:53 We don't want to discriminate against any company, big or small. But what's key for us is that the consumer is delighted and that the consumer experience is strong. And so we go through a rigorous testing of potential partners to say, okay, so what is the experience once you get the consumer's information? How quickly do you call them? What's your follow-up like? And so we've had to part ways with certain partners on our site because they didn't have

Starting point is 00:27:22 the same view on how they should treat a consumer as how we should. And it's actually a challenge for our company because we're not only viewed for how the consumer's experience is on our site, but we're also viewed by the downstream partners. So the car insurance companies and brokerages and mortgage brokers and credit card companies, how they're treated, how the consumer's treated often affects how people think of lowest rates. Yeah, because it definitely is. You know, that'll probably change in the future because let's say you book an Air Canada flight through Expedia and, you know, there's trouble on the plane and, you know, you're delayed

Starting point is 00:27:56 five hours. You don't blame Expedia for that. But at this point, lowest rates tends to get blamed for certain downstream issues because we're not big and people in Canada don't really... People in Canada don't understand the difference between what we are, lowestrates.ca, a comparison site versus an insurance broker versus an insurance company. There's just...

Starting point is 00:28:15 And it is confusing. I must admit, I didn't understand it before I started all this. And so there's really a lot of... There's a big bridge to gap from an education standpoint. So kind of wrapping up, And so there's really a lot of, there's a big bridge to gap from an education standpoint. So kind of wrapping up, what do you see in like five years, 10 years, what do you kind of see in the future for lowest rates? Well, so we have a very big goal.

Starting point is 00:28:34 We want to be the first place that people go to when they're thinking about a personal financial product. So right now it's the bank. So we want to be the place that people go to before the bank, because we are going to have, we're going to be comparing all the banks, all the insurance companies, all the credit card companies. People will be able to feel like,

Starting point is 00:28:57 okay, I can go to lowest rates to explore all my options. But more than that, I can also get the unbiased information, the impartial advice, so that I can be empowered and make the right decision. So I have, I'm armed with the education. I'm also provided with all the options. And look, a lot of people are still going to end up going to the major banks, because in many cases, the major banks may be best for them. But, you know, they can save time and money by starting at lowest rates. So that's a lofty aspiration because the banks have been just so ingrained in Canadian psyche as the place to

Starting point is 00:29:30 go for so long. And they spend so much money. You know, we started with $150,000, but the beauty is now we're, you know, we're four years later. We just got awarded as the fourth fastest growing company in Canada by Profit Magazine and Canadian Business. Sorry, the fourth fastest growing company in Canada by Profit Magazine and Canadian Business. Sorry, the fourth fastest growing young company or startup company in Canada. So the great news is that a lot of people have found out about lowest rates. Over a million and a half people have come to our site. We've done over, I think, 300,000 connections or leads for people. So people are finding out about us and they really love it. The message is, wow, I didn't know that this actually existed. So we've got a long way to go, though,

Starting point is 00:30:09 because less than 10% of the Canadian population have ever tried a site like ours or any of our competitors. So we have a long way to go to reach our lofty goal. But that's where, in five years or 10 years, if we're speaking again, that's where I hope we are, is that consumers start on sites like Lowest Rates as their first choice, where they start their journey. Yeah, and I can see that happening.

Starting point is 00:30:32 I can absolutely see that happening. Well, thank you, Justin, for taking this time to chat with me and getting to know you a bit more and a bit more about Lowest Rates. And hopefully you'll play Mo Money More Problems to send us off. I don't want to get sued, so... Good call. And that was episode 79 of the Mo Money Podcast. Make sure to check out the show notes at JessicaMorhouse.com slash 79. I'm going to put some interesting stuff in there, more about Justin and lowest rates and all the great stuff they're doing

Starting point is 00:31:00 and good work they're doing to educate people about saving money on finding the best rate. Because honestly, it's so true. It's such a little thing. But when you do your research to find the best rate, you will literally save yourself thousands of dollars. And I know they did a survey, which I'm going to link to in the show notes. They did a survey that kind of uncovered how people spend way more time researching their next vacation to try to find like the best rate on a hotel and, you know, car and flights and everything than when they're researching a mortgage, which is kind of crazy because yeah, vacation is important. And obviously you don't want to spend too much money on a vacation, but don't you want to save more on your mortgage that you're going to be stuck with for

Starting point is 00:31:43 like 20 years and paying hundreds of thousands of dollars on? Just, I don't know. It's been crazy to me. So make sure to check out the show notes. Check out lowestrates.ca too if you're looking for, just want to do some research on rates or you're looking for some insurance or whatever. Lowestrates.ca is where you can find out more information about all that. And don't forget to come back here tomorrow because I have one last episode to wrap up

Starting point is 00:32:04 the season three of the MoMoney podcast. It's a solo episode with myself and just kind of a nice reflective podcast episode about, you know, I've freaking done 80 episodes. I've talked to a lot of people. I've learned a lot. I know you've learned a lot. So I kind of wanted to do a cool wrap up episode to exit 2016 and some,

Starting point is 00:32:28 I don't know, inspiring stuff. So entering 2017 will be awesome. So make sure to come back here tomorrow. And yeah, I'll see you back here tomorrow, I guess. Right, guys? Right? Right? Okay. See you tomorrow. Bye. This podcast is distributed by the Women in Media Podcast Network. Find out more at womeninmedia.network.

More Money Podcast - 079 Why You Should Always Hunt for the LowestRates - Justin Thouin, CEO of Lowest Rates

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