As the cost of living continues to climb across southeastern Manitoba, many families are feeling the strain. From higher grocery bills to rising fuel costs and housing pressures, everyday expenses are forcing households to rethink how they manage their money.
For Steinbach-based Accredited Mortgage Professional Lisa Gryba, these challenges are not new, but they are becoming more urgent. She says one message comes up repeatedly: without a clear plan, financial goals can feel out of reach.
Learning financial habits the hard way
Gryba says her own understanding of money did not come from formal teaching early in life, but from experience.
“I would say I wasn’t taught that as a child. I developed a passion when I was young and wanted things. I realized very quickly that without a plan, it doesn’t happen.”
That realization started with small steps such as earning and saving money through chores, eventually shaping her broader approach to finances. Gryba says those early lessons still influence how she advises clients today.
Understanding credit and why it matters
One of the most common misconceptions Gryba encounters is around borrowing and credit. While some people prefer to avoid debt entirely, she says that approach can sometimes create challenges later, especially when applying for a mortgage.
“You have to show that you can borrow money. I’m trustworthy. It’s all about risk elimination. We want to be able to show that if we want to do a mortgage, we can trust these people, and that they’re going to pay.”
Gryba says building a positive credit history is essential because lenders rely heavily on past payment behaviour. Even a single missed payment can have an impact.
“That’s a huge part of my job because I can show that you make money, that you have a job, and you can make payments, but what do I do if you don’t have credit worthiness? That is something that, in my opinion, should be [taught] in school systems. We need to teach the children young, so that when they become our age, it’s second nature.”
She adds that in the Southeast, there can be gaps in credit history within households, particularly where one partner has not borrowed in their own name.
“We see often in families where the women often stay home, raise the children, and the men borrow. The men do because they are the breadwinners. But we felt in the mortgage industry, we need the women to establish credit too.”
She notes that even modest income can make a meaningful difference when qualifying for financing, but only if there is a record of responsible borrowing.
Mortgage renewals present opportunity
Looking ahead, Gryba says the next two years will be significant for homeowners.
“Mortgage renewal opportunities are huge because in the seat I sit, those mortgages are going to be two per cent down to one and a half per cent, and I’m going to try to sell them on three and a half, four per cent. How do you do it? It sounds worse. Debt consolidation is huge.”
While some borrowers may be concerned about higher interest rates compared to previous terms, Gryba emphasizes that renewal time can also offer an opportunity to improve overall financial health.
One of the most effective strategies she highlights is debt consolidation. By combining higher-interest debts such as credit cards or vehicle loans into a mortgage, families may be able to reduce their overall monthly obligations.
“When we add those payments and we add up the mortgage payment, often the overall payment is large. When I can roll it into a mortgage, stretch the payments a little bit, it offers extra cash flow, and comfort for the families to exactly weather the season of what’s going on down south and how it is affecting us in Canada.”
She says this approach can help households manage rising costs and create more stability during uncertain economic periods.
Budgeting remains the foundation
For those without a mortgage, or for anyone trying to regain control of their finances, Gryba says the most important step is also the simplest: create a budget.
“Write it down. Put it on a spreadsheet, budget accordingly, and plan ahead because I think anything is possible.”
She encourages people to structure their payments in a way that follow a bi-weekly system even for those who receive income monthly.
Gryba also recommends focusing on one debt at a time rather than spreading payments too thin across multiple accounts. She gives an example of someone trying to repay three credit cards.
“The best strategy and what I’ve experienced is do more than your minimum payment on the other two but that third one, slap more money on, pay it down, pay it off quickly.” she says.
This targeted approach can help individuals see progress more quickly, which can be motivating and reduce long-term interest costs.
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Using extra income wisely
With tax season underway, Gryba says refunds present an opportunity for financial improvement, not additional spending.
“If you’re getting a refund, that’s not a time to go on a trip,” she says. “That’s the time to look at what our debt is. What are our payments? What should I do? Because with planning for when a storm comes, you’re ready.”
Talking to children about money
Financial stress is also affecting families with children, particularly when parents have to say “no” more often than they have in the past.
Gryba says those moments can be valuable teaching opportunities and believes financial literacy should start early, even with small allowances or simple budgeting exercises.
“At the age of five, there’s nothing wrong with having a budget because everything is so expensive.”
At the same time, she acknowledges the importance of balance, encouraging parents to allow for occasional rewards while still reinforcing responsible habits.
“It’s okay to spend a bit, and it’s okay to reward yourself. You’re not cleaning out your bank accounts, and you’re ready for a rainy day,” she says.
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Managing expectations in a social media world
Gryba also points to the influence of social media on financial expectations, particularly among younger people.
She cautions that these images often do not reflect the full reality behind them.
“You only see the good stuff. You don’t see what they’ve had to go through to get there.”
That perception can lead to unrealistic comparisons and pressure to spend beyond one’s means.
Instead, she encourages people to focus on their own financial situation and long-term goals.
Strategy over rates
As mortgage renewals approach, Gryba says borrowers should resist the urge to simply sign renewal documents without exploring their options.
“When I get a renewal document in the mail, shouldn’t I just sign and initial? Never.”
Instead, she encourages homeowners to seek advice and develop a long-term strategy.
“If we strategize accordingly, moving forward, my clients are going to save so much money.”
A message of hope
Despite the challenges many families are facing, Gryba remains optimistic.
“I’m a firm believer that everyone can be a homeowner. You just have to plan, and some people have to plan longer. I think that when you’re proactive, any kind of surprise won’t really catch you off guard.”
She emphasizes that financial progress is possible with consistency, discipline and the right guidance.
By focusing on practical steps such as budgeting, managing debt and building credit, she says individuals can regain a sense of control and confidence.
“You’ll feel invincible,” Gryba says.