News Column

'BMOst of Summer' Financial Tip of the Day: Save Hundreds in Interest Costs This Summer by Consolidating Your High-Interest Debt

Jul 17 2013 12:00AM



TORONTO, ONTARIO -- (Marketwired) -- 07/17/13 -- As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense', BMO is releasing a financial tip every day in the summer to help Canadians make the 'BMOst of summer' in 2013.

BMO's Tip of the Day: Save hundreds in interest costs this summer by consolidating your high-interest debt.

In the current economic climate, households are, more than ever, looking for ways to reduce costs and save money. By paying off higher interest debt with a single payment through a lower rate product, such as BMO's Personal Line of Credit, Canadians can significantly reduce interest costs and pay down debt faster.

"Reducing debt and being smart about debt management is crucial in helping achieve your financial goals," said Janet Peddigrew, BMO Bank of Montreal. "Where possible, consolidate your higher interest debt into a lower rate product."

BMO offers a number of products and services that can help Canadians get more out of every dollar they spend this summer. For more details on how to make the 'BMOst of Summer,' drop by a BMO branch or visit

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.

Media Contacts:
Jessica Park, Toronto
(416) 867-3996

Valerie Doucet, Montreal
(514) 877-8224

Laurie Grant, Vancouver
(604) 665-7596

Twitter: @BMOmedia

Source: Marketwire

Story Tools