Timely template letter: A little help with big expenses

(June 2004) Do you have clients who may be planning for a large summer expense but don’t know exactly where the money will come from? Send them this letter to let them know you can be of assistance:

Dear [Client’s name],

When the warm weather arrives, many of us start to think about home renovations, garden projects and summer vacations. We often know exactly what it is that we want to accomplish, but sometimes we are not sure where the money will come from.

That’s where I think I might be able to help.

If you’re planning for a large expense for this summer, or indeed for any time of the year, you may wish to meet with me to discuss some of the following areas:

Debt management

Are you paying too much on your credit cards and loans? Instead of paying 18% to 20% interest for consumer debt, it may make sense to consolidate your loans for a much lower rate — perhaps as little as 6% or 7%, depending on your credit history and current financial situation.

If you think a move like this could help free up money you need for other things, I’d be happy to explain your options and refer you to a loan officer or mortgage specialist who can be of assistance.

Short-term savings vehicles

Most day-to-day bank accounts pay little or no interest. If you’d like to set aside funds for an upcoming expense, I can offer a number of specialized, higher-interest savings vehicles that may suit your needs.

By investing in a money market or T-bill account, for example, you could be earning significantly higher returns. These are conservative savings vehicles that pay higher rates than bank accounts, but are still suitable for the short-term investor.

And if you’d prefer a more traditional option, I can also shop the market to find you the highest paying rates for guaranteed investment certificates (GICs).

Don’t let the summer pass you by. If there are things you’d like to accomplish before the snow falls, please don’t hesitate to contact me at the number above.

Sincerely,

[Your signature]

[Your name]

06/09/04