Young Money with Tracey Bissett: Recent Episodes
Tracey Bissett
This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed. This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.
Today we're celebrating Young Money’s incredible journey. Together, we’ve created 334 episodes, reached listeners in over 40 countries, and surpassed 360,000 downloads! It’s been a privilege to inspire financial fitness through fun, educational content and host amazing guests who’ve shared their insights to help you navigate your financial journey.
As I reflect on this milestone, I’m sharing the lessons I’ve learned, the hurdles I’ve overcome (like losing access to Apple Podcasts!), and the community that made it all possible. From loyal listeners to supportive colleagues and fellow podcasters, this journey has been all about people. As Young Money takes a pause, I want to thank you for being part of this incredible experience and encourage you to celebrate today by taking one small step toward your financial goals.
“I love my show, being a podcaster, and the impact the show is making on the world.” - Tracey Bissett
This Week on Young Money:
- What inspired Young Money and its lasting impact over seven years.
- Lessons from building a global podcast with 360,000+ downloads.
- Behind-the-scenes stories, including overcoming setbacks with Apple Podcasts.
- How financial fitness starts with small, imperfect actions.
- The value of community in creating a lasting podcast.
- Why podcasting is one of the best decisions I’ve ever made.
- Milestones and celebrations that made the journey unforgettable.
- How to take action toward your financial fitness today.
Key takeaways:
- Financial fitness is about consistent, small actions—not perfection.
- Community and collaboration are essential to podcasting success.
- Resilience helps overcome unexpected hurdles in creative work.
- Milestones remind us to reflect on growth and impact.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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In this episode I’m wrapping up Financial Literacy Month with a musical twist, drawing inspiration from a recent trip to Nashville, Tennessee. Known as a prime bachelorette destination and the heart of country music, Nashville also provided valuable financial fitness lessons applicable to everyone, especially young entrepreneurs and those at the start of their financial journey.
Listen in as I share personal stories and insights from my travels, exploring the parallels between the vibrant life of Nashville's music scene and practical financial strategies. You'll learn about the importance of asking for what you want, staying true to your financial goals, and the benefits of professional financial advice through the lens of honky tonks and country legends.
“Your financial dreams and goals don't need to look like anyone else's, and you should work with professionals that have experienced credentials and make you feel comfortable.” - Tracey Bissett
This Week on Young Money:
- A journey through Nashville and its connection to financial literacy.
- Five key financial fitness lessons inspired by Nashville’s music scene.
- Practical advice on asking for what you need, focusing on your goals, and resilience in your financial life.
Key takeaways:
- Embrace the power of asking in financial situations.
- Stay focused on your financial goals despite tempting distractions.
- Recognize when to seek professional help for managing your finances.
- Understand that bigger isn't always better in financial decisions.
- Learn the importance of resilience in achieving long-term financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As Financial Literacy Month continues, we're diving into the crucial but often overlooked role of insurance for young Canadians. Today we're joined by Jessica Baker, Executive Vice President of Retail Wealth at Co-operators, a trusted, Canadian-owned company providing insurance and financial services since 1945.
Listen in as Jessica explains how insurance isn't just about protecting possessions—it's about safeguarding your financial future. She busts common myths, like the idea that insurance is too expensive or unnecessary for healthy young people, and offers valuable insight that could change the way you approach your financial security.
“The two main categories of life insurance, term life and permanent life, can help set you up for both savings and paying the expenses of the sudden and unforeseen.” - Jessica Baker
This Week on Young Money:
- Why insurance is essential for financial well-being at every age.
- An overview of the comprehensive services offered by Co-operators.
- The common types of insurance young Canadians should consider.
Key takeaways:
- Understand the basic principles of insurance and how it operates to protect you.
- Recognize the importance of insurance as a part of holistic financial planning.
- Assess your insurance needs based on life changes and financial goals.
Connect with Jessica Baker:
- Co-operators Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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In this Financial Literacy Month special of Young Money, we're joined by Rana Abu-Naameh, Director General of Supervision at the Financial Consumer Agency of Canada (FCAC). With her extensive background in public service and financial oversight, Rana sheds light on how FCAC protects consumer rights and enhances financial literacy across Canada.
Listen in as Rana dives into the critical aspects of FCAC’s mandate, focusing particularly on the streamlined consumer complaint handling process. She explains the steps consumers should take if they have grievances with financial products or services, detailing both the internal and external complaint processes. Rana also highlights the recent legislative changes that strengthen consumer protections, including mandated electronic alerts to help Canadians manage their banking more effectively.
“If you’re frustrated with the situation, don’t just sit with it. There is a process to protect you.” - Rana Abu-Naameh
This Week on Young Money:
- An overview of FCAC's role and its impact on financial consumer protection in Canada.
- A detailed explanation of the consumer complaint handling process.
- Insights into recent enhancements in financial consumer protection laws.
Key takeaways:
- Understand how to effectively lodge and escalate complaints within the financial system.
- Learn about your rights as a consumer when dealing with financial institutions.
- Discover the tools and resources provided by FCAC to enhance your financial literacy and safeguard your interests.
Connect with Rana Abu-Naameh:
Resources Mentioned:
- External complaints bodies: know your rights - Canada.ca
- One external complaints body for banking - Canada.ca
- Filing a complaint about financial products and services - Canada.ca
- FCAC (LinkedIn)
- To learn more about FCAC, visit: https://www.canada.ca/en/financial-consumer-agency/corporate/about.html
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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As we celebrate Small Business Month in Canada, I'm delighted to speak with Pouya Zangeneh, the Senior Vice President of Small Business Banking at Scotiabank. With over a decade of experience in the financial services industry, Pouya shares his insights from Scotiabank's recent report, "Path to Impact 2024: Navigating the Future Succession and Success in the Digital Era."
Listen in as Pouya discusses the trends impacting small businesses, including the imminent 'succession tsunami' where many business owners plan to transition their businesses in the next decade. He explores the importance of digital transformation in preparing for these transitions, whether it's to a new owner or the next generation. Pouya also emphasizes how digitization not only enhances customer experiences but also streamlines operations, making businesses more attractive and operationally resilient.
"We need to invest, we need to think, and we need to do the work to get these businesses ready for the future generation of the leaders within the small business landscape in Canada." - Pouya Zangeneh
This Week on Young Money:
- Insights from Scotiabank's "Path to Impact 2024" report.
- The concept of a 'succession tsunami' and what it means for current and future business owners.
- The role of digital transformation in preparing businesses for succession.
Key takeaways:
- Implement succession planning tied to digital transformation efforts.
- Enhance digital capabilities in your small business.
- Seek advice and embrace digital tools to streamline business operations.
Connect with Pouya Zangeneh:
- Scotiabank Small Business Banking
- Navigating the Future, Succession and Success in the Digital Era
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
In this episode, I’m joined by Elisa Swern, a national retail and consumer leader and partner at PwC Canada. With over 25 years of experience in the retail and consumer goods sectors, Elisa brings her extensive expertise to discuss the findings of PwC's Canadian Holiday Outlook Survey for 2024.
Listen in as Elisa dives into the expected increase in consumer spending this holiday season, despite economic challenges. She also highlights the spending behaviors across different generations and provinces and shares insights into the growing importance of sustainability in consumer choices. You'll learn about the rise of digital payment methods, the intriguing trends around physical gifts and secondhand purchases, and more.
"They are willing to pay a little bit more to get that quality that they feel will last." - Elisa Swern
This Week on Young Money:
- The general consensus for holiday spending according to the survey.
- How spending and plans stack up for Gen X, Gen Z, and Millenials.
- When people are planning to make their holiday purchases.
- The motivations driving what they buy and how.
- The findings on sustainability that came out of the survey.
Key takeaways:
- Despite cost of living concerns, Canadians plan to ramp up their spending this holiday season.
- We are seeing a shift toward sustainability and ethical consumerism.
- Spending patterns differ among different generations.
- Digital payments and secondhand purchases are gaining popularity.
Connect with Elisa Swern:
- PwC Canada
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Are you feeling overwhelmed by rising living costs and seeking better financial guidance? In this episode, we sit down with Shawn Kauth, Vice President of Wealth at Meridian Credit Union, who brings nearly three decades of experience in the financial industry. Shawn discusses the results of Meridian's 'More Than a Number' survey, revealing critical perspectives on financial insecurity among Canadians.
Listen in as Shawn addresses the concerns different demographics face, including the anxiety experienced by Gen Z and the challenges women face regarding long-term financial futures. You will learn how to navigate the current financial environment by prioritizing personalized service and seeking out professional advice. Shawn encourages everyone to take charge of their financial education, set realistic goals, and build a supportive relationship with their financial institutions.
“Canadians are looking for a more personal touch across various aspects of their financial needs.” - Shawn Kauth
This Week on Young Money:
- The role of credit unions in Canada.
- Differences between banks and credit unions.
- The importance of financial education for Canadians.
- Insights from Meridian's 'More Than a Number' survey.
- How to build a supportive banking relationship.
- Strategies for managing rising living costs.
- The financial concerns of women and Millennials.
- Understanding Gen Z's anxiety about money.
- The value of seeking professional advice.
- Practical steps to set financial goals.
Key takeaways:
- Credit unions offer personalized service.
- Financial education is crucial.
- Set realistic financial goals.
- Seek professional advice early.
- Build supportive banking relationships.
Connect with Shawn Kauth:
Resources Mentioned:
- Meridian OneCap Credit Corp
- Meridian
- Motusbank
- Amid financial stress, nearly half (46%) of Canadians are open to banking alternatives to manage their money
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you or someone you know dealing with student loans or getting ready to navigate the world of repayment? In this episode, I sit down with Clay Jarvis, NerdWallet Canada’s mortgage and real estate expert, to discuss essential strategies for managing student loans and making smart financial decisions. We'll dive into practical advice for students just starting their loan repayments, adjusting payments to fit your financial situation, and what to do if you’re struggling to make payments.
Clay also highlights the importance of budgeting and why parents should have financial conversations with their kids before they head off to university. Listen in to learn how disciplined loan repayments can set you up for a brighter future, as well as how parents can offer emotional and financial support while encouraging smart money habits.
“You do not want to stop paying your loans. You can simply shrink your payment as much as you need to, and then when you start earning more money, you can increase those payments.” - Clay Jarvis
This Week on Young Money:
- What NerdWallet is and how it helps consumers make smart financial decisions.
- How to start managing student loan repayments.
- Ways to adjust loan payments based on your financial situation.
- What to do if you can’t make a payment on time.
- Tips for parents to support their children financially and emotionally.
- The role of budgeting in financial success.
- Why talking to kids about money before university is crucial.
- How disciplined loan repayment improves your financial future.
Key takeaways:
- Be smart about saving.
- Adjust loan payments as needed.
- Never stop paying your loans.
- Budget before heading to university.
- Parents: offer both financial and emotional support.
Connect with Clay Jarvis:
- NerdWallet
Resources Mentioned:
- NerdWallet: Website | LinkedIn
- Answers to 3 Common Questions About Student Loan Repayment
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Have you ever wondered about the true costs of fertility treatment in Canada? In today's episode, we sit down with Shannon Terrell, a lead writer and spokesperson for NerdWallet, to explore the financial realities many Canadians face when seeking fertility treatments. With one in six Canadian couples experiencing infertility, understanding the costs and financial options available is crucial. Shannon shares insights from a guide she developed, offering a comprehensive look at the various methods of fertility treatments and their associated costs.
Listen in as we discuss where Canadians can find financial support for fertility treatments. Shannon explains the limited government funding available in some provinces and how to navigate these options. She also covers the potential benefits of personal loans or lines of credit, emphasizing the importance of understanding the fine print. Shannon provides valuable tips on how to approach family and friends for financial support, making these tough conversations a bit easier.
“Infertility is an important conversation to have. Not only is it a complex medical journey but it’s a complex financial journey as well.” - Shannon Terrell
This Week on Young Money:
- What a typical day as a writer for NerdWallet looks like.
- The broad spectrum of fertility costs.
- What Canadians can expect to pay for fertility treatments.
- Where can Canadians look for financial support.
- How to find out what your province or territory offers.
Key takeaways:
- Understand the high costs of fertility treatments in Canada.
- Explore provincial financial support options.
- Consider personal loans for treatment expenses.
- Learn how to ask family for financial help.
Connect with Shannon Terrell:
- NerdWallet
- NerdWallet Website
- NerdWallet LinkedIn
- Fertility Treatment Costs in Canada: What You Need to Know
- EP301 Will Swifties Save or Sink into Debt?
- EP321 TikTok Credit Card Tips Reviewed by NerdWallet Canada
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
In this episode, I’m joined by Charlie Kerrigan, the founder of V.I.L Landscaping and host of The Hard Lessons Podcast. Starting his business in 2016 with just a push mower, Charlie has grown V.I.L Landscaping into a thriving enterprise and aims to become one of the top landscaping companies in Canada.
Listen in as Charlie shares his journey, from being a young entrepreneur knocking on doors to running a company with multiple locations and a dedicated team. He emphasizes the importance of surrounding yourself with mentors, the necessity of cash flow management, and building a strong team culture. Charlie also provides practical advice for young entrepreneurs, discussing key success factors and common missteps to avoid.
"No one else is going to show up for you or care more about you than you will. So making it clear to yourself where you want to get and where you want to go is super important.” - Charlie Kerrigan
This Week on Young Money:
- Charlie's journey from solo entrepreneur to running a successful landscaping business.
- The significance of cash flow management and financial planning.
- Tips for young entrepreneurs.
- Missteps to avoid in the early stages of entrepreneurship.
Key takeaways:
- Control your destiny and be strategic in your decisions.
- Surround yourself with mentors and people who push you to be better.
- Understand the importance of cash flow and financial planning.
- Build a strong team culture and ensure everyone understands their impact on the business.
Connect with Charlie Kerrigan:
- V.I.L Landscaping
- The Hard Lessons Podcast
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
In this episode, I’m joined by Martha Ibrahim, a certified accountant with 13 years of experience in capital markets regulation and a champion of financial inclusion projects in Nigeria. Martha shares her journey and the inspiration behind her book, Things I Wish I Knew Before I Got My First Job, which highlights the seven keys to personal finance, personal growth, and self-leadership.
Listen in as she offers invaluable advice on the importance of personal finance, the necessity of multiple streams of income, and the four essential skills everyone should develop. You'll learn about the significance of self-education, what Martha would tell her younger self, and more.
"The time will come where what you have is dependent on the decisions you made in the past.” - Martha Ibrahim
This Week on Young Money:
- The inspiration behind Martha’s book and her key messages for young professionals.
- The importance of personal finance and multiple streams of income.
- Essential skills for personal and professional growth.
- The value of self-education and mentorship.
Key takeaways:
- Think long-term and build intentionally.
- Develop essential skills in accounting, marketing, selling, and communication.
- Embrace self-education and seek mentorship.
- Always take action and plan for the future.
Connect with Martha Ibrahim:
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As Canadians grapple with the financial and emotional aspects of supporting aging parents, we sit down with Clay Jarvis, a mortgage and real estate expert from NerdWallet Canada. This episode dives into NerdWallet’’s recent aging parent survey, conducted by the Harris Poll, revealing that nearly one-third of Canadians are either assisting or plan to assist their parents financially.
Listen in as Clay provides expert advice on initiating conversations about finances with aging parents, addressing sensitive topics such as estate planning and end-of-life care. He emphasizes the importance of timely discussions to prevent financial hardships and ensure parents’ wishes are respected and planned for accordingly.
“It's better to just confront these things head-on, and deal with them.” - Clay Jarvis
This Week on Young Money:
- How to start conversations about financial support without adding stress.
- The impact of financial pressures on multi-generational families in Canada.
- Practical steps for managing the financial responsibilities of aging parents.
Key takeaways:
- Don’t avoid difficult conversations.
- Practical planning is essential.
- Consider professional advice.
Connect with NerdWallet:
- Website
Connect with Clay Jarvis:
Resources Mentioned:
- Shannon Terrell
- 2024 Financially Assisting Aging Parents Report
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are Canadians' financial concerns keeping them up at night? In this episode, we're joined by Kingsley Chak, Senior Vice President at Scotiabank, to delve into the anxieties and hopes shaping the financial landscape in Canada today, as revealed by the fifth annual Worry Poll.
This discussion sheds light on the pressing financial issues that Canadians face—from spending concerns to debt management—and highlights the proactive measures being adopted, particularly by the youth, to forge a path toward financial stability.
"You're not alone. What you're thinking, what you're feeling—a lot of Canadians are feeling that way as well.” - Kingsley Chak
This Week on Young Money:
- The financial concerns and aspirations highlighted in Scotiabank's Worry Poll.
- A look at how Canadians are navigating their financial worries amidst economic fluctuations.
- The proactive approach of younger Canadians toward their financial wellness.
- Strategies for effective financial management and planning for a secure future.
Key takeaways:
- Evaluate your financial concerns.
- Seek out financial advice.
- Implement practical strategies to confront financial challenges.
Connect with Kingsley Chak:
- Scotiabank
Resources Mentioned:
- Scotiabank Advice+
- Smart Money
- BNS:CC - Canadians prioritizing day-to-day finances optimistic for better days ahead
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Today we're diving into the untapped world of financial wisdom on TikTok as Shannon Terrell, lead writer at NerdWallet Canada, shares the truths and myths surrounding popular financial advice. Shannon sheds light on crucial financial insights shaping the digital landscape, from purchase protection to the mysteries of credit card skimmer scams. With Canadians increasingly relying on TikTok for financial advice, this episode offers tips to navigate the complexities of credit cards and personal finance.
Listen in to hear about the nuances of credit utilization ratios, the intricacies of credit card insurance, and the realities of credit card churn. You'll learn how to safeguard your financial interests and make informed decisions about your finances.
“When dealing with credit card insurance, always make sure that you’re checking the fine print and ensure that you understand what obligations you need to fulfill as the cardholder so that you’re not left high and dry in a difficult situation.” - Shannon Terrell
This Week on Young Money:
- What NerdWallet is and who they help.
- What a day in the life of a writer for NerdWallet looks like.
- What trends on TikTok we can follow.
- How credit card insurance works.
- What your credit utilization ratio is.
- How to spot a skimmer scam.
Key takeaways:
- Check the fine print.
- Know your obligations.
- Check your spending.
- Understand your credit limits.
- Make payments often on your credit card.
- Trust your gut.
- Re-evaluate who you follow on social media.
Connect with Shannon Terrell:
- NerdWallet
- NerdWallet Website
- NerdWallet LinkedIn
Resources Mentioned:
- EP106 Milli Moves: Money & Media with Leanna Haakons
- EP301 Will Swifties Save or Sink into Debt
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
What can Super Bowl LVIII teach us about financial fitness? In this episode, I dive into wisdom we can take away from the year's biggest game and explore how stars like Taylor Swift and Usher, along with the athletes’ inspiring stories, reveal crucial financial strategies.
Listen in as I analyze the perseverance and disciplined approaches of NFL players and entertainers, showing how their journeys mirror essential financial principles. You'll hear actionable insights for achieving financial wellness and learn the significance of dedication to long-term goals and resilience.
"In the same way that athletes and performers dedicate themselves to their craft, achieving financial fitness requires discipline, planning, and the courage to pursue long-term goals over instant gratification.” - Tracey Bissett
This Week on Young Money:
- Extracting financial lessons from the spectacle and spirit of Super Bowl LVIII.
- The impact of celebrity influence on financial decisions, with a spotlight on Taylor Swift and Usher.
- The disciplined journey to success: insights from the NFL's finest and musical icons.
- Strategies for setting, pursuing, and achieving your financial goals with resilience.
Key takeaways:
- Vision and perseverance are key when it comes to achieving financial fitness.
- Navigate your financial future with support and guidance.
- There are no shortcuts to success—discipline is the path to victory.
Resources Mentioned:
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
- EP101 How to Take Control of Your Financial Future like Taylor Swift
- EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP231 Back to Basics
- EP232 Financial Lessons from Hip Hop at the Super Bowl
- EP280 Sports Betting: Gambling or Entertainment?
- EP281 Financial Fitness Lessons from Rihanna
- EP301 Will Swifties Save or Sink into Debt
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you ready to challenge the norms of personal finance with the bold trend of loud budgeting? In this episode, I explore this trend, which encourages openly declaring and adhering to your financial goals. Spearheaded by Lukas Battle on social media, this movement marks a departure from quiet luxury, advocating for courageous, value-driven financial decisions. I’ll delve into how this approach not only curbs impulse spending, but also adapts effectively to the current economic landscape.
Listen in as I revisit themes of financial openness from previous episodes, highlighting how discussing finances with others can lead to better decision-making. I also explore loud budgeting's role in addressing financial bullying and influencing consumer behaviors like “buy now, pay later” schemes, emphasizing its impact on personal finance management.
"It’s not ‘I don’t have enough’. It’s ‘I don’t want to spend’.” - Tracey Bissett
This Week on Young Money:
- What loud budgeting is and its rise to popularity.
- How this trend has shifted the norm from quiet luxury to open financial planning.
- Previous episodes that align with the theme of financial openness and accountability.
- The role of loud budgeting in current economic scenarios and its impact on consumer behavior.
Key takeaways:
- Open discussions about finances can foster better financial decisions and relationships.
- Economic conditions influence personal finance strategies.
- Aligning financial actions with personal values and goals is key.
Resources Mentioned:
- EP031 True Cost of Being a Wedding Guest
- EP037 Cohabitate in a Financially Fit Way
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP103 Are you a financial bully?
- EP114 Milli Moves: Are you Uber Broke?
- EP158 Milli Moves: Mind Your Own Business About Money
- EP226 Financial Accountability Over Financial Resolutions
- EP247 Buy Now Pay Later 101
- EP292 Navigating Financial Firsts and Spending Shifts with Interac
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As we step into the new year, it's the perfect time to get motivated and inspired about our financial fitness. In this episode, I draw parallels between physical and financial fitness, illustrating how both exist on a spectrum from beginners to experts.
Dive into the three key elements of the Bissett Financial Fitness Framework: cash flow, savings, and debt management. Just like physical fitness—where cardio, strength training, and lifestyle choices play crucial roles—these financial elements are essential for a balanced and healthy financial life. Whether you're just starting to learn about budgeting or you're a sophisticated investor, this framework can help individuals and businesses alike, so make sure to tune in!
“Tackle your financial life with the Bissett Financial Fitness Framework and become more financially fit.” - Tracey Bissett
This Week on Young Money:
- Understanding the Bissett Financial Fitness Framework and its relevance in everyday life.
- What physical fitness has in common with financial fitness.
- The three key elements of financial fitness.
- Practical advice for improving each aspect of your financial health.
Key takeaways:
- Recognize where you stand on the financial fitness spectrum and identify areas for improvement.
- Cash flow is key in maintaining a stable and balanced financial life.
- Savings contribute to financial security and enable personal and business growth.
- Debt management is crucial for controlling your future and avoiding financial pitfalls.
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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As we bid farewell to 2023 and welcome 2024, it's time to reflect on the past year's financial lessons and look ahead with optimism and preparedness. In this episode, I’m diving into the significant financial events of 2023, from soaring interest rates to the challenges of inflation and job cuts, and how they've shaped our financial behaviors.
Join me as I celebrate Young Money's milestones (including crossing 350,000 downloads!), explore the personal and professional achievements of the year, and discuss the importance of community support and personal health in our financial journeys. I also share predictions for 2024 and practical tips to help you take control of your finances and navigate the uncertainties ahead.
“Reflect on your financial learnings and prepare for a year of taking control of your finances.” - Tracey Bissett
This Week on Young Money:
- A review of the financial landscape in 2023, including interest rates, inflation, and job market trends.
- The impact of financial stress on Canadians' mental health and well-being.
- Celebrating Young Money's achievements and personal milestones.
- Predictions for the financial challenges and opportunities in 2024.
- Five actionable tips for improving your financial fitness in the new year.
Key takeaways:
- Reflect on your financial experiences and learnings from the past year.
- Understand the ongoing financial challenges and prepare for them.
- Embrace community support and prioritize health alongside financial goals.
- Set realistic financial goals and be mindful of your spending habits.
- Seek professional advice and support to enhance your financial journey.
Resources Mentioned:
- Feedspot's Top 10 Financial Podcasts in Canada
- FP Canada 2023 Financial Stress Index
- EP062: What is your Money Mindset?
- EP114: Milli Moves: Are you Uber Broke?
- EP301: Will Swifties Save or Sink into Debt
- EP315: How to Protect Yourself Online with TELUS
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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What are you grateful for? Reflecting on this question is the first step toward integrating gratitude into your life. Whether through mindful observation, expressions of thanks, or keeping a gratitude journal, the possibilities are endless. In this episode, I will be going over several ways to practice gratitude when you may not be feeling so grateful.
Incorporating gratitude into your daily routine doesn't require extensive time; even a few minutes each day can significantly impact you. As we explore the power of gratitude, remember that expressing thanks for your financial fitness is equally essential. Celebrate the achievements, big and small, that your hard-earned money affords you.
“It is important to give back. Whether it is through a contribution to a food bank, a kind word for someone you pass in your busy day, helping out a neighbor in need—anything that you can do.” - Tracey Bissett
This Week on Young Money:
- The concept of gratitude and its benefits for mental and physical well-being.
- How to celebrate the simple everyday pleasures.
- Several ways to express gratitude.
- The scientifically supported benefits of practicing gratitude.
- Practical tips on seamlessly integrating gratitude into daily routines.
Key takeaways:
- Practice gratitude.
- Celebrate small wins.
- Take small actions every day.
- Observe the beauty of wonder.
- Be kind to others.
Resources Mentioned:
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP062 What is your Money Mindset?
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
- EP262 Taking Control of Our Money with Kelley Keehn
- EP274 Finding Joy Through Financial Fitness
- EP275 Finding Hope Through Financial Fitness
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Are you aware of the risks lurking in the digital world—especially during the holiday season? In this episode, we're joined by Leigh Tynan, Director of TELUS Online Security, to discuss the importance of cyber safety and how to protect your identity and finances online.
Listen in as Leigh shares her insights on the increasing prevalence of online fraud and identity theft in Canada. We delve into the specific risks Canadians face during the holidays and the best practices for safe online shopping. Leigh also walks us through the three phases of dealing with online fraud and offers practical tips for safeguarding your digital presence.
"Even if you do everything right, you can still be at risk." - Leigh Tynan
This Week on Young Money:
- The heightened risks of online scams during the holiday season.
- Strategies for preventing, detecting, and recovering from online fraud.
- The current landscape of online fraud and identity theft.
- Best practices for protecting your identity and shopping safely online.
- The role of TELUS Online Security in safeguarding Canadians' digital lives.
Key takeaways:
- Stay vigilant and informed about the risks of online fraud.
- Embrace cybersecurity best practices, including two-factor authentication and VPN usage.
- Regularly monitor your financial accounts and credit reports.
- Utilize resources like TELUS Online Security for comprehensive digital protection.
- Share your experiences and report incidents to help combat cybercrime.
Resources Mentioned:
- Leigh Tynan: LinkedIn
- TELUS: LinkedIn
- TELUS Online Security
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Six years, 314 episodes, a global audience across 40 countries, and over 350,000 downloads—join me in celebrating the incredible journey we've had on the Young Money podcast. With educational and entertaining content from all of our inspiring guests, I hope this show has guided you on your financial fitness journey.
Listen in as I reflect on the past and share how my personal experiences and newfound perspectives will shape the future of Young Money. From addressing current issues to sharing listener stories and exploring the impact of biases on financial fitness, I plan for the next chapter to be relevant, insightful, and connected to what you want to hear.
“It's about taking those small imperfect actions that increase your foundation of financial knowledge so you can navigate your life, personally and professionally, with confidence.” - Tracey Bissett
This Week on Young Money:
- How we have had to adapt to the ever-changing financial landscape.
- How Young Money has changed in the past six years.
- The power of shared experiences.
- The role biases play in financial fitness.
- How I have changed since starting the show.
- The complexities of financial fitness.
Key takeaways:
- Embrace community.
- Be adaptable.
- Remain open to learning new things.
- Learn to pivot.
Resources Mentioned:
- EP060 Young Money's 1st Birthday - Ask Me Anything!
- EP100 Celebrating 100 Episodes of Young Money
- EP116 Behind the Scenes of Young Money
- EP172 Young Money Celebrates 3 Years with special guests Riley & Brenley
- EP200 Celebrating 200 Episodes of Young Money
- EP225 Celebrating 4 Years of Young Money
- EP273 Lessons Learned from 5 Years of Young Money
- EP300 The 300th Episode Celebration
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
How are Canadians navigating the holiday season amidst economic challenges and evolving retail landscapes? In this episode of Young Money, I’m joined by Myles Gooding, PwC Canada's National Consumer Markets Leader, to explore the Canadian Holiday Outlook Survey's findings.
Listen as we dive deep into the spending behaviors of different generations and examine how cutting-edge retail technologies like AI, AR, and the metaverse are revolutionizing the way we shop. Myles also offers a wealth of insights into the current trends shaping Canadian consumer habits, as well as why Canadians are increasingly focusing on travel, supporting local businesses, and making socially responsible decisions in their holiday shopping.
“Safety concerns now in the rearview mirror, in-store shopping is actually continuing to make a pretty large number.” - Myles Gooding
This Week on Young Money:
- Insights into consumer spending trends.
- The impact of inflation on consumer choices and spending habits.
- The role of emerging retail technologies in enhancing the shopping experience.
- Generational differences in holiday spending.
- The growing popularity of 'Buy Now, Pay Later' among Gen Z consumers.
- The importance of supporting local businesses and making socially responsible purchases.
- Strategies for managing holiday expenses and staying financially fit.
Key takeaways:
- Understand the changing dynamics of consumer spending.
- Recognize the influence of technology on modern shopping.
- Learn how different generations approach holiday spending amidst economic challenges.
- Discover the significance of socially responsible and community-focused purchasing.
- Gain insights into effective budgeting and financial planning for the holidays.
Resources Mentioned:
- 2023 Canadian Holiday Outlook
- EP247 Buy Now, Pay Later 101
- EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you equipped to handle the complexities of managing debt and navigating financial emergencies? In this episode, I dive into the crucial aspects of financial health, focusing on debt management and emergency preparedness. November, being Financial Literacy Month in Canada, serves as a timely reminder to assess and enhance our financial literacy, a key component of overall financial wellness.
Join me as I explore the theme of this year’s campaign, "Managing Your Money in a Changing World," and discuss practical tips and strategies for dealing with debt, creating budgets, and setting up emergency funds. I’ll cover the importance of understanding your financial rights, the benefits of having a solid plan for debt repayment, and ways to increase income and reduce expenses. Plus, I’ll offer insights on how to navigate financial emergencies, from contacting financial institutions to considering mortgage deferrals and credit card payment holidays.
"Managing debt is one of the key consumer building blocks that leads to greater financial resilience." - Tracey Bissett
This Week on Young Money:
- The significance of financial health checks and understanding debt management.
- Strategies for creating budgets, paying off debts, and avoiding additional debt.
- Tips for setting up an emergency fund and reducing expenses.
- Guidance on navigating financial emergencies, including mortgage relief options and credit card payment holidays.
- The importance of seeking professional financial advice and being cautious of misleading information.
Key takeaways:
- Get a pulse on your financial health.
- Manage your debt.
- Optimize your financial health.
- Know your financial rights.
- Create a budget.
- Save and invest.
- Get help when you need it.
Resources Mentioned:
- EP056 Back to Basics - The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP058 Invest in Your Financial Well-Being - Financial Literacy Month 2018
- EP109 Milli Moves: Take Charge of Your Finances - Financial Literacy Month 2019
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP166 Financial Literacy Month 2020: 10 Things you Should Know During Times of Financial Uncertainty
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP218 Financial Fitness All Year Round
- EP222 Why Financial Literacy Matters at Work
- EP267 Managing Your Money in a Changing World
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Are you ready to tackle the tempting deals of Black Friday and Cyber Monday without derailing your budget? In today’s episode, we dive into the art of smart shopping during the biggest sale season of the year and share essential considerations to ensure you're making wise purchasing decisions.
Listen in as we explore three key considerations: understanding the real reason behind your purchase, assessing if the deal is genuinely beneficial, and exploring ways to maximize benefits like loyalty points or additional perks. We also offer bonus tips on avoiding overspending, such as unsubscribing from tempting store emails and involving friends in your spending plans. And don't forget about Giving Tuesday – a perfect opportunity to make your charitable contributions go further!
“If you are getting a deal, make sure it really is one.” - Tracey Bissett
This Week on Young Money:
- Evaluating the true purpose of your purchases.
- Determining if a deal is genuinely advantageous.
- Leveraging loyalty programs and other benefits for optimal value.
- Bonus tips to resist overspending temptations.
- The importance of Giving Tuesday and supporting charities in need.
Key takeaways:
- Be mindful of your purchasing motivations.
- Scrutinize deals to ensure they are genuine savings.
- Utilize loyalty points and other benefits for added value.
- Implement strategies to avoid emotional spending.
- Remember the broader impact of your spending, especially on Giving Tuesday.
Resources Mentioned:
- Who’s Hungry Report 2023
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Embarking on the journey of entrepreneurship requires more than just business acumen—it necessitates a strong foundation built on passion, resilience and a commitment to positive change. Sharmila Sriram, Founder & CEO of Spectrum Medical Diagnostics, sheds light on the crucial aspects that drive the success of a business. Sharmila reflects on the challenges she faced in her financial journey, emphasizing the need for a solid financial roadmap, a robust emergency fund and the ability to find opportunities in challenges.
Listen in as she shares valuable lessons on resilience, as well as practical insights and guidance for aspiring entrepreneurs. You'll learn from Sharmila's journey as she offers wisdom on overcoming obstacles, embracing failure as part of the process and staying focused on the path to success.
“When you’re passionate about something, money follows.” - Sharmila Sriram
This Week on Young Money:
- What a day in the life looks like for Sharmila.
- The importance of having a good team around you.
- Why Sharmila is so passionate about positive changes to healthcare.
- The importance of community and support.
- How to ensure you’re set up for the future.
- Why you shouldn't wait to set up a financial safety net.
Key takeaways:
- Surround yourself with positive people.
- Create a financial roadmap.
- Build a solid emergency fund.
- Live for today.
- Try to find opportunities in challenges.
- Failure is part of the process.
- Be resilient.
- Learn to pivot.
Connect with Sharmila Sriram:
- Spectrum Medical Diagnostics
- Spectrum LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Wondering how small business owners are navigating the current economic landscape and what the future holds for them? Tune in to this episode with Jascha Jabes, Vice President of Small Business at Scotiabank, who brings a wealth of experience from various sectors and a deep understanding of the challenges and opportunities facing businesses today.
In this episode, Jascha shares some of the key findings from Scotiabank's recent Small Business Report, highlighting the resilience and optimism of business owners despite prevailing headwinds. He sheds light on how businesses are adapting to economic conditions, enhancing their digital capabilities, and leveraging artificial intelligence. We also discuss how business owners can future-proof their ventures and gain insights into building strong partnerships with financial institutions.
“There is a need for small business to be nimble and flexible, and that’s a lot harder than we realize.” - Jascha Jabes
This Week on Young Money:
- What a day in Jascha’s life looks like.
- What business owners are feeling in the current economy.
- The challenges that small business owners are facing.
- Opportunities available for business owners.
- How business owners are adapting to the economic landscape.
Key takeaways:
- Embrace technology.
- Don’t fear AI.
- Seek out advice.
- Resilience is not easy.
Connect with Jascha Jabes:
Resources Mentioned:
- Path to Impact 2023: Resilient Small Business Owners optimistic for the future despite headwinds
- Scotiabank Small Business Banking
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Looking for insights on how to curb overspending and make smarter financial decisions? Don't miss this episode featuring Iva Poshnjari, a BNN Bloomberg digital reporter and a voice on CTV’s Things To Know T.O. TV show. With a keen focus on personal finance and a passion for guiding young women away from financial pitfalls, Iva brings a wealth of knowledge and experience to the discussion.
In this episode, Iva explores the pressing challenges of overspending, shedding light on some of the trends when it comes to overspending and which generation is most affected by inflation. She also shares her personal journey with finances and debt, highlighting the pivotal role of mindfulness and meditation in reining in spending habits and the tactics she employed to clear her own debt.
“When it comes to finances, getting organized is half the battle.” - Iva Poshnjari
This Week on Young Money:
- A day in Iva’s life.
- The trends in overspending.
- Advice Iva would give to her younger self.
- The strategies she used to pay off her credit card.
- What inspires her when it comes to finances.
Key takeaways:
- Don’t let interest sneak up on you.
- Unsubscribe from unnecessary emails.
- Be mindful.
- Get organized.
- Automate what you can.
Connect with Iva Poshnjari:
Resources Mentioned:
- Money, A Memoir: Women, Emotions, and Cash by Liz Perle
- Barbara Corcoran
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Curious about making smart investment choices and understanding the current economic climate in Canada? Tune in to this episode with David O’Leary, chartered financial analyst, wealth management expert, and the founder and principal of Kind Wealth. With a wealth of experience behind him and a commitment to independence and transparency, he’ll take you through the intricacies of investing and financial planning.
Listen in as David shares his insights on a range of topics, including the impact of inflation on investing among Canadians, changes in risk tolerance, and the links between investing and personal values. We also discuss the difference between financial planning and investment management, practical tips for successful self-directed investing, and how David overcame his own financial challenges.
“There’s no bravery without fear.” - David O’Leary
This Week on Young Money:
- What a day in David’s life looks like.
- The core themes and success factors in David’s career journey so far.
- The financial challenge David faced and how he overcame it.
- How the rate of inflation has affected investing among Canadians.
- What risk tolerance is and how it has changed for Canadians with the rate of inflation.
- The links between investing and the values that people hold.
- Success tips for investing (including self-directed investing).
- The difference between financial planning and financial advising.
Key takeaways:
- Learn from others.
- Don’t fear fear.
- Be honest.
- Educate yourself.
- Investing is simple but not easy.
- There is no shame with working with professionals.
Connect with David O’Leary:
- Website
- Kind Wealth
Connect with Wealth Rocket:
- Website
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Wondering how to navigate the complex world of personal finance and wealth-building? Don't miss this episode featuring Julie Shipley-Strickland, a Senior Wealth Advisor at Wellington-Altus Private Wealth and a trailblazer for women in the financial industry. She joins the show today to share actionable insights from more than a decade of experience in the field.
Listen in as Julie delves into the rituals for building wealth that you can start practicing today, as well as her own financial challenges and what she wishes she had known earlier in life. You'll learn real, actionable advice, including some hard truths about the financial challenges that many of us face but rarely discuss.
“Chip away at whatever you’re doing and surround yourself with great people.” - Julie Shipley-Strickland
This Week on Young Money:
- What a day in Julie’s life looks like.
- The key success factors that have helped her.
- The biggest financial challenge she faced.
- What she wishes she had known sooner.
- Actionable rituals for building wealth.
Key takeaways:
- Find balance.
- Love the journey.
- Surround yourself with great people.
- Be curious.
- Cultivate your mindset.
Connect with Julie Shipley-Strickland:
- Company Website
- Personal Website
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Ever wondered how our emotional relationship with money shapes our financial success? In this episode, we sit down with Leisse Wilcox, a Strategic Business Coach who has dedicated her career to helping women bridge the gap between self-worth and net worth. With a story marked by resilience, Leisse has not only built a thriving business amidst personal challenges, but has also become a beacon of hope for entrepreneurial women worldwide.
From navigating cancer and complex personal challenges to building a multiple six-figure business, Leisse's journey is a testament to the power of self-belief and determination. This episode delves deep into discussions that aren't always on the sunny side of money, offering listeners a chance to learn from Leisse's experiences and insights. Don't miss this opportunity to gain a fresh perspective on the emotional intricacies of wealth and self-worth.
“You are enough, simply by existing.” - Leisse Wilcox
This Week on Young Money:
- What a day in Leisse’s life looks like.
- How her origin story shaped her adult relationships.
- What it means to have a life-centered business.
- The factors that have made Leisse successful.
- What defines financial abuse.
Key takeaways:
- You are enough.
- Create your own abundance.
- Do the internal work.
- Learn to trust yourself.
- Do what is best for you.
- Name your experience.
Connect with Leisse Wilcox:
- Website
- Podcast
Resources Mentioned:
- EP062 What is your Money Mindset?
- EP063 Money Mindfulness with Jessica Moorhouse
- EP161 Why an Abundance Mindset and Kindness are Key to Financial Fitness
- EP182 Love and Money: Escaping Financial Abuse with Samra Zafar
- EP228 Balance: How To Invest and Spend for Happiness, Health and Wealth with Andrew Hallam
- EP235 How to Protect Yourself from the Romance Scam
- EP246 Love, Money and Divorce with Eva Sachs
- EP277 Mindfulness & Money with Conscious Economics
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Curious about making the right choices in challenging times? Shannon Lee Simmons, a seasoned Certified Financial Planner (CFP), bestselling author, and founder of the New School of Finance™, joins us to explore her latest book, No-Regret Decisions. Introducing a universal decision-making framework applicable to most scenarios, Shannon emphasizes that setbacks don't define your decision-making ability—they're opportunities for growth.
Listen in to hear about her three-phase approach: first, avoiding impulsive panic decisions; second, navigating the messy middle phase of decision-making; and finally, adapting to your "next normal" post-decision. You will learn how to craft micro-timelines for clarity and embrace evolving core values. Unlock the secrets of effective decision-making and pave the way for future success!
"No matter what decision someone is trying to make in their life, the actual framework to make that decision is the same.” - Shannon Lee Simmons
This Week on Young Money:
- The three phases of big decision-making.
- How to create micro-timelines and what this entails.
- The benefit of knowing your core values.
- How to decide what information actually matters.
- How to set yourself up for future success.
Key takeaways:
- Don’t be afraid of taking risks.
- Be okay with things not working out.
- Create micro-timelines.
- Focus on the now.
- Don’t make panic-based decisions.
- Be mindful of where you get your information.
Connect with *Shannon Lee Simmons:***
- Website
- New School of Finance LinkedIn
- New School of Finance Twitter
- New School of Finance Instagram
- No-Regret Decisions by Shannon Lee Simmons
Resources Mentioned:
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- EP066 Living Debt-Free with Shannon Lee Simmons
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Ever puzzled over how to make your charitable donations truly count? Don't miss this episode featuring philanthropy expert John Bromley. Raised with charity as a family cornerstone, John has worked with top experts in the field and founded Charitable Impact to simplify and enhance giving. Tune in to hear how his mission aligns with the history of Young Money and aims to transform philanthropy.
Listen in as we dive into John's journey from a charitable upbringing to founding Charitable Impact, a platform designed to make giving easier and more effective. John shares invaluable insights on how to start your philanthropic journey, even if it's with a minimal amount, and offers guidance on narrowing down charitable options to align with your interests and passions.
"It's not just wealthy people who can and do create change in the world. Everyone contributes towards that.” - John Bromley
This Week on Young Money:
- About John and Charitable Impact.
- The importance of charitable giving.
- How John became interested in charitable giving.
- The minimum amount of money to donate.
- How to narrow down your charitable options.
Key takeaways:
- Start small, but start now.
- Be thoughtful with your charitable giving.
- Don’t fear mistakes.
- Focus on areas of giving that align with interests.
- Learn by doing.
Connect with Charitable Impact:
- Website
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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With more than 15 years in the world of finance, Kalee Boisvert, MBA, champions the cause of financial empowerment. She's set to release two books in 2023: MoneyWise Mabel’s Bursting Bank, a children's book, and Make Money Your Thing! a non-fiction guide. In this episode, Kalee dives into empowering women in finance, untangling financial stress, and practical steps to take control of your financial journey.
Listen in as she shares tactics to remove stress and create a positive relationship with money. You will learn the importance of taking small actions every day and the preliminary steps towards financial well-being, including cultivating a healthy money mindset and understanding your present financial standing. Kalee also explains the value of dedicating time to financial growth while avoiding the pursuit of perfection, instead embracing your own financial uniqueness.
“Women being financially empowered and feeling good in their finances benefits everyone.” - Kalee Boisvert
This Week on Young Money:
- How we can empower women to feel part of the financial conversation.
- Why so many women feel uncomfortable discussing finances.
- How someone can ditch the stress and make money their thing.
- The first steps you can take towards a financially fit future.
- The importance of knowing where you stand today with your finances.
- Why you shouldn’t strive for financial perfection.
- How to get ourselves out of money comparisons.
Key takeaways:
- Take action on your finances.
- Be open to learning new things.
- Assess your money beliefs.
- Get to know your numbers.
- Devote time to working on your money.
- Don’t ignore your money.
- Embrace your own money uniqueness.
Connect with Kalee Boisvert:
- Make Money Your Thing!
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Ever wondered how to enjoy big events like a Taylor Swift concert without sinking into debt? Shannon Terrell is a renowned writer for NerdWallet Canada and holds a bachelor’s degree from the University of Toronto. Her work has been featured in prominent publications like Black Enterprise, Finder, and Yahoo! Finance, and she joins the show today to share insights into the financial implications of major events like concerts for fans and attendees.
As the excitement builds for Taylor Swift's 2024 tour, Shannon Terrell offers an insider's perspective on NerdWallet, as well as how to navigate ticket challenges, avoid scams, and make the most of your concert experience without overspending. From budget-friendly travel tips to the real value of concert merchandise, we've got you covered!
"The last thing you want after spending that kind of money is to be ripped off or scammed.” - Shannon Terrell
This Week on Young Money:
- A day in the life of Shannon Terrell and an inside look into NerdWallet.
- The frenzy around Taylor Swift's upcoming 2024 tour and the challenges of securing tickets.
- Tips to avoid scams when buying tickets outside of official platforms.
- Budget-friendly advice for attending concerts, including savings on meals, flights, transportation, and accommodation.
- How to transform your concert trip into a memorable vacation without overspending.
- The allure of concert merchandise: Is it worth the splurge?
- Essential budgeting tips and strategies for concert-goers.
Key takeaways:
- Plan ahead and budget for big events like concerts to avoid financial strain.
- Be cautious of scams and always use trusted platforms for ticket purchases.
- Make informed decisions about concert-related expenses, from merchandise to travel.
- Enjoy the experience without compromising your financial well-being.
Connect with Shannon Terrell:
- NerdWallet
Connect with NerdWallet:
- Official Website
- LinkedIn Company Page
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Welcome to this milestone episode of Young Money! I'm overwhelmed with gratitude as we mark our 300th episode. The podcast has reached listeners in over 40 countries, with more than 335,000 downloads. This isn't just my achievement; it's ours. It's a testament to our shared commitment to financial education and your unwavering support. Together, we've championed the cause of financial fitness as a fundamental life skill and empowered countless young adults and entrepreneurs.
You, the listeners, are truly the soul of Young Money. Your engagement, insightful reviews, and invaluable feedback have all shaped this podcast into what it is today. As I eagerly anticipate our next 100 episodes, I'm reminded of the sheer joy of podcasting, the hurdles we've crossed, and the recognition we've received, like the Financial Literacy Champion Award from the IFSE Institute. Here's to celebrating more milestones, diving deeper into financial insights, and nurturing a community that only grows stronger!
“I’m on a mission to redefine the world’s economic future by empowering young adults and entrepreneurs to take control of their financial fitness.” - Tracey Bissett
This Week on Young Money:
- How far we’ve come.
- Notable reviews from listeners.
- Where we’re going from here.
Key takeaways:
- Financial fitness is a fundamental life skill.
- Take control of your financial well-being.
- Stay motivated.
- Share your ideas, comments, and questions.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Are you unknowingly falling prey to a troubling trend of financial exploitation in your platonic or romantic relationships? This summer has been an eye-opening experience for me, as I've witnessed and heard countless stories about individuals facing financial exploitation. It's a concerning trend that we need to address and reverse, and that's precisely what we'll tackle in this episode.
Throughout my years of experience in personal finance, I've helped many people navigate these tricky situations. Today, I'll share insights into identifying red flags that may indicate someone is taking advantage of your financial standing. We'll dive deep into the subtle and more obvious signs of financial exploitation and equip you with the tools to protect yourself and your financial well-being.
“Sometimes other people can see situations more clearly than we can.” - Tracey Bissett
This Week on Young Money:
- How to identify warning signs of financial manipulation in your relationships.
- Strategies to assert yourself confidently and set healthy boundaries when faced with situations of financial exploitation.
- The importance of speaking up in the moment and how to approach the conversation with confidence.
- Practical steps to take after an incident of financial manipulation.
- How to navigate potentially uncomfortable conversations.
- How to ensure your financial well-being by taking charge of your finances and making informed decisions for the future.
Key takeaways:
- Recognize the warning signs.
- Assert yourself with confidence.
- Engage in uncomfortable conversations.
- Take charge of your finances.
Resources Mentioned:
- EP103 Are you a financial bully?
- EP158 Milli Moves: Mind Your Own Business About Money
- EP182 Love and Money: Escaping Financial Abuse with Samra Zafar
- EP235 How to Protect Yourself from the Romance Scam
- EP236 Good Investment or Investment Scam?
- EP237 Fun with Fraudsters
- EP271 Mental Health & Money
- EP282 Love & Money: Financial Infidelity
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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The release of the Barbie movie has captured the spotlight, with its colossal marketing budget dominating current events. This 2023 American fantasy comedy film brings to life the beloved Barbie fashion dolls in their first-ever live-action adaptation, featuring Margot Robbie as Barbie and Ryan Gosling as Ken. Amidst the fantasy and comedy, the movie weaves profound themes of existentialism and the pursuit of self-identity, challenging societal norms and predetermined paths. In this episode, I will be sharing the financial lessons inspired by Barbie's illustrious career.
With over 200 jobs to her name, Barbie exemplifies financial self-sufficiency, becoming a symbol of empowerment as she owns her home, car, and more. Through Barbie's journey, we learn the significance of staying true to our values and goals, refusing to be swayed by external pressures or comparisons. The movie highlights the importance of seeking support when needed, understanding that we don't have to navigate our financial journeys alone. So listen in to learn the value of embracing change, trusting your instincts, taking calculated risks, and finding joy in the process.
“Things change, so trust your judgment, take calculated risks, and have some fun.” - Tracey Bissett
This Week on Young Money:
- Why striving to be financially self-sufficient is key.
- Where to seek help and guidance when navigating your financial journey.
- Why we must prioritize our goals and values in our financial decisions.
- The benefit of being open to change and trusting your judgment when making financial choices.
Key takeaways:
- Embrace self-sufficiency.
- Stay true to your values.
- Seek support when needed.
- Embrace change.
- Take calculated risks.
- Find joy in the process.
Resources Mentioned:
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
- EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
- EP221 3 Financial Lessons Learned from Adele
- EP223 SATC Spotlight: Sarah Jessica Parker versus Carrie Bradshaw
- EP232 Financial Lessons from Hip Hop at the Super Bowl
- EP281 Financial Fitness Lessons from Rihanna
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Today Reni Odetoyinbo, content creator, marketing consultant, and finance educator, joins the show to share resources for career development and financial literacy. After achieving the remarkable feat of purchasing her first house at the young age of 23, Reni became determined to empower Black individuals with financial knowledge.
In this episode, she dives deep into the importance of taking calculated risks and having the courage to embrace a leap of faith. Reni emphasizes the significance of building an emergency fund, pivoting when necessary, and the benefits of establishing multiple streams of income and investment accounts. Listen in as she encourages you not to wait, but to embark on your financial journey now and shape your own financial destiny.
“Having one stream of income is too close to having none.” - Reni Odetoyinbo
This Week on Young Money:
- The importance of taking a leap of faith.
- Why you should take calculated risks.
- The value in being willing to learn new things.
- Why budgeting is key.
- What financial literacy means to Reni.
- Why it is essential to have multiple streams of income.
Key takeaways:
- Bet on yourself.
- Build an emergency fund.
- Don’t be afraid to pivot.
- Diversify your income streams.
Connect with Reni Odetoyinbo:
- Website
- YouTube
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Joining the show today is Scott Stirrett, the Founder and CEO of Venture for Canada (VFC), a national charity that empowers young Canadians with entrepreneurial skills and mindsets. In this episode, Scott shares the inspiring story behind the inception of VFC and discusses its mission and target audience. Whether you're a post-secondary student or a graduate seeking to develop entrepreneurial abilities, Scott provides invaluable guidance on how to pave the path to success.
Listen in as he highlights common missteps made by students in their pursuit of entrepreneurial learning and offers advice to parents and family members on supporting the students and graduates in their lives. You will learn the importance of embracing new experiences and taking calculated risks, why having an open mind is crucial, and more.
“One of the most important things that a young person can do is be willing to have an open mind and try out new things.” - Scott Stirrett
This Week on Young Money:
- How Scott came up with the idea for Venture For Canada.
- A day in the life of running VFC.
- The value of obtaining entrepreneurial skills.
- How having an open mind can benefit you in entrepreneurship.
- How to become more comfortable taking risks.
- Why you should start early with building a network.
- The value of participating in work experiences and entrepreneurship.
Key takeaways:
- Take calculated risks.
- Develop a network.
- Take part in learning experiences.
- Be decisive.
- Change is constant.
Connect with Scott Stirrett:
- Venture For Canada LinkedIn
- Venture For Canada Twitter
- Website
Resources Mentioned:
- Choose Possibility by Sukhinder Singh Cassidy
- So Good They Can't Ignore You Cal Newport
- The Real Strength of Weak Ties
- EP214 Backpack to Briefcase with Stephanie Koonar
- EP295 Gap Year 101 with Michelle Dittmer of CanGap
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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In this episode, Michelle Dittmer, an educator and youth advocate, joins the show to shed light on the transformative power of a gap year. Michelle founded the Canadian Gap Year Association, recognizing the potential of a gap year to address mental health challenges, lack of clarity, and skill gaps among youth. Throughout our conversation, Michelle explores the benefits of taking a gap year, emphasizing its positive influence on the mental well-being of young individuals, as well as the valuable lessons and personal growth that can be gained.
Listen in as she explains the impact of a gap year on post-secondary education and the importance of taking time to recharge to set yourself up for success. You'll learn why Michelle advocates for providing young people with adequate support and life experiences before making significant life decisions, as well as insights into how to make the most of a gap year, both before, during, and after the experience.
“A gap year is a purposeful and intentional break away from your normal routine to pursue personal and professional goals.” - Michelle Dittmer
This Week on Young Money:
- What exactly a gap year is.
- Why young people may choose to take a gap year.
- How a gap year can do wonders for the mental health of young people.
- The impact of taking a gap year when it comes to your post-secondary schooling.
- How to have a more purposeful gap year.
Key takeaways:
- Take time to recharge.
- Pursue your passions.
- Be decisive and committed.
- You don’t have to do it alone.
Connect with *Michelle Dittmer:***
- Website
Resources Mentioned:
- EP043 Create a Stand Out Cover letter, Resume and LI Profile with Kamara Toffolo
- EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
- EP214 Backpack to Briefcase with Stephanie Koonar
- Globe and Mail Article "COVID, a strong job market and high-cost-of-living is making gap years more attractive to students looking to make money"
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Today we are joined by Sudeshna Sen, an Economist and senior leader in the financial services industry. With her extensive experience working with top financial institutions and Fortune 500 clients, Sudeshna has gained a unique perspective on the challenges of financial literacy. Recognizing that the use of jargon and industry lingo can hinder understanding, she decided to tackle this issue by approaching money and careers holistically through her personal venture, The Abundance Psyche. In this episode, Sudeshna offers insights on various topics, including the importance of following your curiosity and committing to continuous learning.
Listen in as she emphasizes the need to consider the return on investment of your time and money, highlighting the significance of assessing your mindset around money and avoiding spending more than you earn. Sudeshna also shares the intricacies of generational wealth, the benefits of diversifying income streams, and valuable advice on investing while young.
“Don’t spend more than you earn.” - Sudeshna Sen
This Week on Young Money:
- What a day in the life of Sudeshna looks like.
- The value in following your curiosity.
- The importance of committing to learning new things.
- Sudeshna’s biggest financial challenge.
- The importance of assessing your mindset around money.
- The benefit of diversifying your income streams and where you invest your money.
- How education can impact your critical thinking skills.
Key takeaways:
- Be curious.
- Be open to lifelong learning.
- Start investing young.
- Stay true to your values.
- Diversify your portfolio.
Connect with *Sudeshna Sen:***
- The Abundance Psyche
- YouTube
Resources Mentioned:
- EP161 Why an Abundance Mindset and Kindness are Key to Financial Fitness
- EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
- EP214 Backpack to Briefcase with Stephanie Koonar
- EP286 The Gateway to Generational Wealth with Nathalie Noisette
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Today we delve into the findings of the 6th Annual Financial Stress Index released by FP Canada, which reveals that money remains the number one stressor for Canadians. In this episode, we share actionable strategies to alleviate financial stress as we go beyond the numbers and engage in a candid discussion with The Real Bottom Line host Wendy Brookhouse and Financial Therapist Aseel El-Baba.
You will learn the reasons behind the escalating stress surrounding finances, leading many to feel hopeless in their financial journey, as well as the sense of disempowerment that arises when we perceive our finances as being beyond our control. Listen in as we explain the significance of evaluating our income and shifting from a scarcity mindset to one of abundance.
“People are feeling as though their finances are outside of their control which is very dis-empowering. These are things we are in control of but because there is so much happening it is like a tornado sweeping us off of our feet and that is causing a sense of hopelessness when we lose touch with the things we are in control of.” - Aseel El-Baba
This Week on Young Money:
- The results of the 6th Annual Financial Stress Index from FP Canada.
- The number of people losing sleep around money.
- Why so many people are feeling hopeless when it comes to finances.
- What has led to the inflated stress around finances.
- What you can focus on right now that will increase your confidence with money.
Key takeaways:
- You are in control of your finances.
- Understand how much your income is.
- Shift your mindset from scarcity to abundance.
- Think bigger than the box you put yourself in.
Connect with Aseel El-Baba:
- Conscious Economics
- Mindfulness Money
- Conscious Economics LinkedIn
- Conscious Economics Podcast
Connect with *Wendy Brookhouse:***
- Website
- Black Star LinkedIn
Resources Mentioned:
- EP063 Money Mindfulness with Jessica Moorhouse
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP238 Get Your Mindset and Money Right with Zandile Chiwanza
- EP249 Control Money Movements with Interac
- EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Will Keliehor, Chief Commercial Officer at Interac, joins the show to discuss the findings of a recent survey that examines how Generation Z approaches their finances and navigates financial firsts amidst current economic conditions. Gen Z is more likely to feel stressed, anxious, and overwhelmed compared to other generations, with 52% believing they will have to work harder for money. However, the survey also reveals that nearly seven in ten Gen Z individuals want to improve their relationship with money. In this episode, Will shares insights on how Interac and Conscious Economics are addressing the emotional barriers faced by Gen Z through financial therapy education, emphasizing the importance of both financial and emotional support.
Listen in as we discuss practical advice, such as tracking spending, setting priorities, and utilizing available tools, to help Gen Z feel more in control of their finances and create a supportive community. By providing a clear focus on Gen Z's financial challenges, emotions, and aspirations, this episode offers valuable insights for both Gen Z individuals and those seeking to understand and support this generation's unique financial journey.
“Use debit. Track your spending. Set your financial priorities. Set your budget and take money out for your savings to fund whatever you’re trying to fund in the future." - Will Keliehor
This Week on Young Money:
- Why Gen Z are navigating firsts in finances that older generations never had.
- How Gen Z is approaching their finances.
- Why Gen Z is more likely to feel stressed and overwhelmed.
- What sets this generation apart when it comes to financial matters.
- How we can help Gen Z feel more in control of their finances.
- The importance of having the right support around you.
- What to focus on when managing your money.
Key takeaways:
- Find emotional support.
- Take charge of your financial well-being.
- Create a supportive community.
- Utilize the tools available.
- Track your spending.
Connect with William Keliehor:
Resources Mentioned:
- Mindfulness & Money
- EP249 Control Money Movements with Interac
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP269 Tips for Tackling Debt Part 1
- EP270 Tips for Tackling Debt Part 2
- EP290 Affordability and Debt Management with BDO
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Jessica Baker, Vice President of Advisor Alliance at Co-operators, joins the show today to shed light on a recent survey that highlights the lack of investing confidence among young Canadians. The survey reveals some key findings that are particularly relevant to young people, showcasing notable differences in their approach compared to their parents and grandparents. The results highlight that 74% of young Canadians lack confidence in their ability to choose investments and are hesitant to seek financial advice from professionals. Many respondents expressed concerns about their financial habits and uncertainty about their future success.
Jessica shares valuable tips for those unsure about where to start with their finances. She emphasizes the importance of not relying solely on social media for financial advice and encourages starting investments early and maintaining consistency. Listen in as she reminds young Canadians that they have the right to seek financial guidance.
“Not very many young Canadians are working with a financial advisor. A significant number of respondents lack confidence in their habits and they’re very concerned about whether or not they’re set up for success in their financial future.” - Jessica Baker
This Week on Young Money:
- What the survey was trying to find out.
- How young Canadians are feeling about investing.
- Young Canadian's level of confidence in their financial futures.
- How to create wealth if not from home ownership.
- Why so many young people struggle to know what to do with their finances.
Key takeaways:
- Don’t believe everything you see on social media.
- Start investing early.
- Consistency is key in investing.
- You have the right to financial advice.
Connect with* Jessica Baker*:
- Co-operators
Resources Mentioned:
- Mutual Fund Disclosure
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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As inflation pressures rise, more and more Canadians find themselves compelled to reevaluate their spending habits, seek effective budgeting techniques, and even consider additional sources of income. In this episode, Jennifer McCracken, a Partner and Senior Vice President at BDO's Vancouver office, will be joining the show to discuss BDO Canada's Affordability Index Spotlight, providing a comprehensive assessment of affordability and debt management among Canadians. Jennifer highlights the warning signs of financial distress, such as cutting back on essential expenses to meet debt obligations, particularly concerning for younger Canadians who face an alarming amount of debt. Moreover, she emphasizes the importance of improving financial literacy and breaking the taboo surrounding conversations about personal finances.
For those listeners facing tight budgets and significant debt, Jennifer offers practical advice and effective debt management strategies. She addresses the overwhelming feeling of paycheck-to-paycheck living and provides guidance on where to begin in tackling debt-related challenges. Jennifer emphasizes that individuals should not feel embarrassed or ashamed about their debt and explores the options available, including the process and considerations involved when filing for bankruptcy.
“People shouldn’t be embarrassed or ashamed about having debt.” - Jennifer McCracken
This Week on Young Money:
- Who BDO Debt Solutions are and what they do.
- The findings of BDO Canada’s Affordability Index Spotlight.
- How people are currently coping with inflation pressures.
- The current issues with debt in Canada.
- The most surprising thing found in the study.
- Advice for those on a tight budget dealing with significant debt.
- The options available when filing for bankruptcy.
Key takeaways:
- Know your options.
- Create a budget.
- Understand how to deal with your debt.
Connect with Jennifer McCracken:
- BDO
Resources Mentioned:
- BDO Canada’s Affordability Index Spotlight
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Janine Rogan is a highly respected keynote and TEDx speaker who has dedicated her career to empowering women to build wealth through financial feminism. Janine's mission is to educate and inspire women to confidently and profitably grow their wealth. Despite the pervasive wage gap that has historically disadvantaged women, Janine believes that women can still achieve financial equality for all by taking small, practical steps towards financial literacy. In this episode, Janine addresses the complex issue of the Pink Tax, which is the issue of women paying more than men for everyday products and services. She explains how this, coupled with the wage gap, can significantly impact women's ability to save, invest, and accumulate wealth over their lifetimes.
Listen in as Janine emphasizes the importance of investing and negotiating for better wages, rates, and charges. She also advocates for supporting new mothers to ensure they can remain in the workforce and continue to build their wealth. With Janine's guidance, women can approach their financial literacy one step at a time, taking small, achievable actions towards financial freedom and empowerment.
“There are so many things that compound over the course of our lives that make us [as women] spend more money when we’re already learning less. This translates into how much wealth we have and how much power we have.” - Janine Rogan
This Week on Young Money:
- Why women face so many more obstacles than men when building wealth.
- Janine’s inspiration for writing her book.
- How our society impacts women's bank accounts.
- The importance of being an advocate for the women in your life.
- What Pink Tax is and why it is important for women to be aware of.
- The benefit of investing your money.
Key takeaways:
- Be an advocate for yourself.
- Be aware of Pink Tax.
- Always negotiate.
- Invest your money.
- Support new parents.
Connect with Janine Rogan:
- Website
- YouTube
- The Pink Tax Book
Resources Mentioned:
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP262 Taking Control of Our Money with Kelley Keehn
- EP276 Why Every Adult Needs a Will with Erin Bury of Willful
- EP278 Say Less Get More with Fotini Iconomopoulos
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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There is no easy way to get rich quick. It's tempting to believe that there is, especially with all the stories you hear on the news and on social media. But the truth is, we need to be cautious and realistic about our financial situations. We can't fall for every offer or post we see on social media that promises easy money. So, in this episode, I want to get back to basics and share some tips on how we can start taking control of our financial situations.
Listen in as I recap some of the key lessons from our previous episode on getting back to basics and share some additional tips on how to establish financial fitness routines, review expenses, and understand retirement-saving options. I promise you that these are simple yet effective steps that can make a significant impact on your financial well-being. Remember: small, imperfect actions are better than no action at all, so don't forget to make a date in your calendar to take one small step toward your financial fitness goals.
“Let’s get back to paying attention, taking accountability, and being disciplined with our actions when it comes to our finances.” - Tracey Bissett
This Week on Young Money:
- Why there is no easy way to get rich quick.
- The importance of being aware of social media posts promising quick and easy money.
- Why every financial opportunity needs to be assessed to determine its fit for you and your financial situation.
- Why it's crucial to review your expenses, understand your retirement savings options, and establish financial fitness routines.
- How to reach your goals without overhauling your life.
- How to ensure you're advancing in your financial fitness.
Key takeaways:
- Get back to basics with your finances.
- Review your expenses.
- Don’t fall for social media “get rich quick” schemes.
- Take accountability.
- Take small, imperfect steps.
- Block out time for financial fitness.
Resources Mentioned:
- EP019 TFSAs vs. RRSPs
- EP070 RRSP Withdrawal Programs - What Are They & How Do They Work?
- EP072 Multi- Level Marketing – Is It the Right Opportunity for You?
- EP106 Milli Moves: Money & Media with Leanna Haakons
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP157 Milli Moves: How to Reset Financially
- EP219 Future of Pandemic Money Habits with D'Arcy McDonald, SVP Scotiabank
- EP222 Why Financial Literacy Matters at Work
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP231 Back to Basics
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Today we dive into the shadowy world of digital fraud and the sophisticated tactics used by scammers to lure unsuspecting victims. With March being Fraud Prevention Month in Canada, I want to emphasize the importance of being vigilant all year round to avoid falling prey to these scams.
Listen in as I share eight common signs of digital fraud that individuals should be aware of, including high-pressure sales tactics, offers that seem too good to be true, requests for personal or financial information, and attempts to keep the transaction secret. By being aware of the signs and staying informed, you can avoid falling prey to these scams and keep your personal information and finances safe.
“Staying informed and vigilant is your best protection against fraud.” - Tracey Bissett
This Week on Young Money:
- How to protect against digital fraud.
- Why we should be vigilant about protecting ourselves against fraud all year round.
- The importance of remembering that sometimes deals are too good to be true.
- Why you should never give financial information to an unknown source.
- Why we should only take financial advice from reputable sources.
Key takeaways:
- If the offer is too good to be true, it probably is.
- Never give financial information to an unidentified or unverified business or individual.
- If something is made to be secret, it may not be a good thing.
- Being guilted into a transaction is not safe.
- Do your due diligence on the financial advice you take.
- Be aware of links and attachments.
Resources Mentioned:
- EP130 Show Me The Fraud – Fraud Prevention Month
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP235 How to Protect Yourself from the Romance Scam
- EP236 Good Investment or Investment Scam?
- EP237 Fun with Fraudsters
- Canadian Anti-Fraud Centre
- Financial Consumer Agency of Canada
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Today's episode is all about the importance of managing your money mindset and the impact this can have on your financial success. A leading expert in business finance, Nathalie Noisette joins the podcast to offer valuable insights into why credit is foundational in today's society, as well as how it can affect your perception of risk and trust when it comes to financial institutions.
Listen in as Nathalie shares practical tips and success strategies to eradicate debt, improve your credit score, and avoid common missteps when managing your finances. You'll learn the significance of having a healthy money mindset and how to make wise financial decisions to achieve long-term success.
“It doesn’t matter where you are in your life, credit is foundational. Credit is really just the intersection between risk and trust.” - Nathalie Noisette
This Week on Young Money:
- Nathalie’s inspiration for her book.
- Why credit is critical in today’s society.
- Why she is so passionate about helping single mothers.
- How to improve your relationship with money.
- The importance of managing your mindset.
Key takeaways:
- Work on your credit.
- Learn your emotional triggers.
- Look at your numbers.
- Understand what you truly need versus what you want.
Connect with Nathalie Noisette:
- Website
- TikTok
Resources Mentioned:
- Converted: Uncover The Hidden Strategies You Need To Easily Achieve Massive Credit Score Success
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Have you ever wanted to know if someone is lying to you or manipulating you in a conversation? In this episode, former Naval Intelligence Officer and Marine Corps certified interrogator Lena Sisco shares her expertise on how to detect honesty and persuade others to be honest in any conversation. Lena has conducted hundreds of interrogations during her service in the Global War on Terror, and she is now the CEO and Founder of two companies, The Congruency Group and SECTOR INTELLIGENCE, where she teaches effective communication practices for interviewing, elicitation, and negotiation.
Join us as Lena discusses the benefits of understanding people, the importance of being more trustworthy, and how these communication skills can benefit all facets of your life. Whether you're going into a big purchase or just trying to build stronger relationships with those around you, Lena's insights and advice can help you feel more prepared, informed, and heard in any important conversation.
“Sometimes, we just need to stop talking and listen more.” - Lena Sisco
This Week on Young Money:
- What a day in the life of Lena Sisco entails.
- How communication skills can benefit all facets of your life.
- The importance of spending time trying to understand people.
- How to make people feel more comfortable with you.
- Advice for going into a big purchase.
- How to create an environment of trust.
Key takeaways:
- Don’t be accusatory.
- Listen to those you’re speaking with.
- Do your homework.
- Know what you’re willing to pay for.
- Be trustworthy.
- Own your mistakes.
- We don't know what we don't know.
Connect with Lena Sisco:
- The Congruency Group
- SECTOR INTELLIGENCE
Resources Mentioned:
- EP130 Show Me The Fraud – Fraud Prevention Month
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP215 Detecting Deception and Understanding Body Language with Lena Sisco
- EP235 How to Protect Yourself from the Romance Scam
- EP236 Good Investment or Investment Scam?
- EP237 Fun with Fraudsters
- EP278 Say Less Get More with Fotini Iconomopoulos
- Canadian Anti-Fraud Centre
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Heather Roberts is a Boundaries Coach who helps female entrepreneurs create space in their lives and businesses. She joins us today to share the importance of defining what boundaries mean to each individual, as well as advice for overcoming the struggles women often face when trying to establish boundaries.
Listen in as she offers tips on how to overcome the guilt and other negative emotions that may arise during this process. You'll learn why it's crucial to ask for clarification when feeling unsure about what is expected of you, why texting or emailing may not be the best option for having difficult conversations, and how to create boundaries that will help you achieve the business and life you truly want.
"You don’t have to have the business you have. You can have the business you wanted.” - Heather Roberts
This Week on Young Money:
- Why Heather decided to focus her business on women.
- The importance of remembering that you can have the business you truly want.
- Why women struggle to put boundaries in place.
- How to overcome the guilt that comes up when you set boundaries.
- The benefit of creating expectations around relationships with loved ones.
- The importance of asking for clarification if you’re feeling unsure of expectations.
- Why text and email are not an option for hard conversations.
Key takeaways:
- Define your boundaries.
- Set expectations.
- Ask for clarity or help when needed.
- Take time to communicate.
Connect with Heather Roberts:
- Website
- Podcast
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Are you ready to break the silence and start having meaningful conversations about finances? Kathleen Burns Kingsbury, the author of Breaking Money Silence, joins the show today to share her insights on why conversations around financial issues are essential and the importance of having these hard conversations around money with the ones you love and trust.
Kathleen believes that keeping secrets about finances can be hurting you, not only financially, but also emotionally. That's why she advocates for breaking the money silence. Listen in as she explains how the way we think and talk about money can impact our lives. You'll hear practical tips on where to begin with opening up the conversation around finances, how to have better money conversations, and several mistakes to avoid when approaching a money conversation.
“Taboos around engaging in financial conversations hurt us—not just financially, but they also hurt us emotionally.” - Kathleen Burns Kingsbury
This Week on Young Money:
- Why conversations around financial issues are essential.
- How having secrets around finances can hurt you emotionally.
- Where to begin with opening up the conversation around money.
- How to have better money conversations.
- What your money talk mindset is.
- Several mistakes to avoid when approaching a money conversation.
Key takeaways:
- Diversity is key.
- Open up the conversation around finances.
- Be aware of your money biases.
- Have an open mind to other opinions.
Connect with Kathleen Burns Kingsbury:
- Website
- YouTube
- Podcast
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Have you ever lied to your partner about money? Or have you ever suspected your partner of not being truthful about their finances? Financial infidelity is a prevalent issue in relationships, and it's time to start talking about it. In this episode, I discuss what financial infidelity is, the reasons people lie about money in relationships, and how to identify if it's happening in your relationship.
I also cover the importance of transparency regarding finances with your spouse and what you can do if you suspect financial infidelity. Listen in to learn how to build a recovery plan with your spouse and move forward with positive changes in your financial relationship. Let’s break the silence on financial infidelity and empower ourselves to take control of our financial relationship.
“We need to be transparent with our partners.” - Tracey Bissett
This Week on Young Money:
• What financial infidelity is.
• What pushes people to lie to their partners about money.
• How to identify financial infidelity.
• What you can do if you suspect financial infidelity.
• The importance of transparency when it comes to finances with your spouse.
• How to address financial infidelity if you’re the one with the financial issues.
• The value of setting monthly budgets and having weekly money meetings.
Key takeaways:
-
Don’t keep financial secrets from your partner.
-
Discuss any financial issues you may be having with your partner.
-
Create monthly budgets.
-
Move forward with positive changes.
-
Build a recovery plan.
-
Have weekly money meetings.
Resources Mentioned:
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP126 Love and Money: 3 Keys to Success
- EP127 Sex & Money: Shining a Light on Human Trafficking
- EP180 Love and Money: Financial Harmony with Adam Kol
- EP182 Love and Money: Escaping Financial Abuse with Samra Zafar
- EP246 Love, Money and Divorce with Eva Sachs
- EP265 Breaking the Money Silence with Jackie Porter
- EP279 Love and Money: Romance on a Budget
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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It is the first full week of February, and you know what that means: the Super Bowl is fast approaching. Rihanna will be headlining the halftime show, sponsored for the first time by Apple Music. With sales of more than 250 million records worldwide, Rihanna ranks as one of the bestselling female artists ever, and this is sure to be an incredible show. Aside from her music career, Rihanna has built an empire and has become an incredible businesswoman. So, in this episode, we will be reviewing the financial lessons we can learn from her and her career.
Listen in as I explain the importance of cultivating multiple streams of income and only using your wealth on your own terms. You will learn the benefit of diversifying your income, seeking advice or guidance when you need it, and never changing who you are.
“Once you recognize and notice the issue or challenge that you are facing, seek help to address it.” - Tracey Bissett
This Week on Young Money:
- The importance of asking for help when needed.
- Why your background should not stop you from pursuing your dreams.
- The benefit of cultivating multiple streams of income.
- Several ways to diversify your portfolio.
- Why building and using your wealth on your own terms is key.
Key takeaways:
- Your past does not dictate your future.
- Be the star of your own show.
- Own your financial future.
- Ask for help when needed.
- Don’t change who you are.
- Always stay humble.
Resources Mentioned:
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
- EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP232 Financial Lessons from Hip Hop at the Super Bowl
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Online sports betting has seen a significant expansion in recent years, and it seems as though you can’t watch a sports game without seeing an advertisement promoting a gambling app or website. Online sports betting allows people to place bets on a wide variety of sports events using their smartphones or computers, rather than having to go to a physical casino or racetrack. Those with a gambling addiction may find it easier to access and spend more money on sports betting online than in physical settings. So, in this episode, I will shine a light on online sports betting—its expansion, who is doing it, and the potential harms that can come from it.
Listen in as I explain who is most at risk for problem gambling and addictions, as well as what you should do if you are seeing gambling problems pop up in your life. You will learn how to change your habits, the importance of increasing your dialogue on the subject with friends or family, and why we should take the time to check in on our loved ones who may have gambling problems.
“Research has suggested that sports bettors have twice as high of a problem gambling rate than gamblers in general.” - Tracey Bissett
This Week on Young Money:
- How online sports betting can be problematic.
- Why I do not think online betting advertisements should be as plentiful.
- Who is at risk for problem gambling.
- What to do if you’re seeing problem gambling pop up in your life.
- The importance of finding healthy habits.
Key takeaways:
- Ask for help if you’re experiencing gambling problems.
- Keep an eye on your gambling habits.
- Increase dialogue on gambling with loved ones.
- Check in on loved ones who may have gambling problems.
Resources Mentioned:
- Sports and Gambling
- Podcasts for Gambling Problems: Meet the Hosts
- EP 54 Is it Time to Retire From Sports Betting?
- EP089 Beau Humphreys - Gambling Addict to Personal Finance Coach
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Valentine's Day is a special occasion for many couples, but it can also be costly. Is all of this Valentine’s Day spending in the name of love? According to Wallethub’s 2022 Valentine’s Day Survey, fear may also be a driver. Fortunately, fancy dinners and high-priced gifts aren’t the only ways to show someone you care, and if you're on a budget, there are plenty of ways to celebrate without breaking the bank. So, in this episode, I will be talking about romance on a budget.
One way to save money is to plan a romantic evening at home. Instead of going out to a fancy restaurant, cook a special meal together using ingredients you already have on hand or buy them at a lower cost. Listen in as I explain some statistics about how much people are spending, other ways you can make your significant other feel special, and how to show more appreciation for your loved one. Remember: the most important thing is to spend time together and show love for each other.
“I think what’s most important is that your special someone knows how you feel about them, that you pay attention and appreciate them. Share your feelings in a permanent way, be thoughtful, and show appreciation. ” - Tracey Bissett
This Week on Young Money:
- How much the average person spends on Valentine’s Day.
- Why fear is a big motivator for spending money on Valentine’s Day.
- Several ways to make a special date without breaking the bank.
- The benefit of showing appreciation to your significant other.
- The five love languages and how to give the perfect gift.
Key takeaways:
- Make every day a special day.
- You don’t have to break the bank to make a date special.
- Share your feelings in a permanent way.
- Be thoughtful.
- Show appreciation.
Resources Mentioned:
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP126 Love and Money: 3 Keys to Success
- EP127 Sex & Money: Shining a Light on Human Trafficking
- EP180 Love and Money: Financial Harmony with Adam Kol
- EP182 Love and Money: Escaping Financial Abuse with Samra Zafar
- EP235 How to Protect Yourself from the Romance Scam
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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For the last decade, Fotini Iconomopoulos has been empowering Fortune 500 executives and their teams to achieve their objectives through her expertise in negotiation, communication, and persuasion. She guides companies through high-stakes scenarios and creates tailored intensive negotiation workshops for clients across the globe in all industries who want to develop their teams. Today, Fotini is joining the show to share her advice for maximizing your earning power and negotiating your way to the top.
Listen in as she explains her inspiration behind her book, Say Less, Get More, and the power of the pause when referring to getting what you want. You will learn how to negotiate a higher salary, the importance of sharing facts rather than opinions, and how to build a strong network.
“If you convince yourself to just shut up, I promise you, you will get better results.” - Fontini Iconomopoulos
This Week on Young Money:
- How to get what you want while saying less.
- How to negotiate a higher salary.
- What the power of the pause is.
- The inspiration behind Fotini's book.
- How to build likeability.
- How to increase your success rate with your emails.
Key takeaways:
- Take a moment of pause before responding.
- Share facts, not opinions.
- Build a strong network.
- Be genuine.
- Have conversations rather than sending an email or text.
Connect with Fotini Iconomopoulos:
- Website
Resources Mentioned:
- What’s Your Negotiation Style Quiz?
- Say Less, Get More Course
- Say Less, Get More by Fotini Iconomopoulus
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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In Financial Literacy Month—and as we entered a busy holiday spending season—Interac and Conscious Economics partnered to launch Mindfulness & Money for Canadians, which offers a free, foundational digital learning platform to support the development of financial well-being skills through the lens of mindfulness, to Canadians coast-to-coast. In this episode, Aseel El-Baba, financial therapist, economic healer, and wealth consultant, will be joining the show to share more details about this partnership, as well as her advice for intentional financial planning for successful financial fitness.
Listen in as Aseel explains behavioral finance and how your upbringing can impact your beliefs and ideas about your personal finances. You will learn how to reach your full financial potential, how to prepare for the new economy, and the importance of communicating your financial concerns with your loved ones. Lastly, Aseel will share how to feel more in control of your finances and why it's crucial to understand why you’re wanting the wealth that you’re seeking.
“Everybody deserves a seat at the table.” - Aseel El-Baba
This Week on Young Money:
- How our background contributes to our financial beliefs.
- The inspiration for Conscious Economics.
- Success strategies for young millionaires in the making.
- Potential missteps or mistakes to avoid.
- How to be more mindful in your spending and saving.
- How to prepare yourself for the new economy.
- The power of creating a more inclusive community around finances.
- How to feel more in control of your finances.
Key takeaways:
- Be mindful of your spending.
- Equip yourself with financial knowledge.
- Don’t be afraid to ask questions.
- Ask yourself why you’re seeking the outcomes that you are.
- Observe by slowing down.
Connect with Aseel El-Baba:
- Website
- Mindfulness Money
- Podcast
- Conscious Economics LinkedIn
Resources Mentioned:
- EP063 Money Mindfulness with Jessica Moorhouse
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP238 Get Your Mindset and Money Right with Zandile Chiwanza
- EP249 Control Money Movements with Interac
- EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Erin Bury is one of Canada’s top female entrepreneurs, an active startup advisor, and a former marketer and technology journalist. Erin is the co-founder and CEO of the online estate planning platform Willful, where she drives the company’s mission to make it easier for Canadians to prepare for and deal with death in a digital age. In this episode, Erin will be sharing the importance of estate planning, regardless of your age, and what this process actually entails.
Listen in as she explains how to reduce the burden on your loved ones if you pass away, as well as how to have these hard conversations with your family. You will learn the importance of looking into your work benefits and bank accounts to ensure your beneficiaries are updated, what mistakes to avoid when creating your will, and Erin’s advice for any young millionaires in the making hoping to build their wealth.
“Estate planning is all about how you take all of the wealth that you hopefully grow over your lifetime and pass it on efficiently and effectively to the family and friends that you leave behind.” - Erin Bury
This Week on Young Money:
- How Willful has changed since the pandemic happened.
- What estate planning is and why it is important.
- The purpose of a will and 2 different powers of attorney.
- Why you should make estate planning a priority.
- Several success strategies to consider for estate planning.
- Common estate planning mistakes to avoid.
- Erin's experience on Dragon’s Den.
Key takeaways:
- Create an estate plan.
- Age doesn’t matter when it comes to estate planning.
- Add a beneficiary to your bank accounts.
- Keep your will up to date.
- Always be prepared.
Connect with Erin Bury:
- Willful
- Willful on Facebook
- Willful on Twitter
- Willful on Instagram
- Willful on LinkedIn
- Erin Bury on Twitter
- Erin Bury on LinkedIn
Resources Mentioned:
- As Seen On Dragons’ Den: Willful’s $750,000 Deal
- EP131 Adulting 101: Why You Need a Will and Powers of Attorney with Erin Bury
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
It seems the news and social media headlines have become very disheartening through 2022. Personal debt delinquencies are on the rise, consumer bankruptcy activity is expected to increase in 2023, and COVID supports have stopped for the most part, with some people required to pay back amounts they received in error. In this bleak economic environment with high inflation and interest rates, remaining hopeful for good things to come is essential. So, in this episode, I am going to be sharing what you can do to find hope through financial fitness.
Listen in as we go over the importance of monitoring your news consumption and being more intentional with the media you are reading, watching, or listening to. You will learn the benefit of knowing your financial situation, how to make a realistic plan for your finances, and why it is a great practice to include gratitude in your daily routine.
“It is important to stay abreast of news developments and trends, but it doesn’t need to be a 24-hour consumption. Get the facts from sources you trust and then stop consuming the info until your next update.” - Tracey Bissett
This Week on Young Money:
- How to find hope in a bleak economic environment.
- The importance of monitoring how much news you’re consuming.
- Why you shouldn’t constantly be listening to the news.
- The benefit of being intentional.
- Why it is essential that you set a budget for yourself.
- The importance of knowing your financial situation.
- How to make a more realistic plan for your finances.
- How to make a 2023 money focus.
- The importance of practicing gratitude.
Key takeaways:
- Be informed on your terms.
- Know your financial situation.
- Make a realistic plan for financial fitness.
- Have a 2023 money focus.
- Practice gratitude.
- Help others.
Resources Mentioned:
- EP044 Dangers of Payday Loans
- EP056 Back to Basics – The 5Cs of Credit
- EP063 Money Mindfulness with Jessica Moorhouse
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP076 Happy Go Money with Melissa Leong
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP238 Get Your Mindset and Money Right with Zandile Chiwanza
- EP249 Control Money Movements with Interac
- EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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The last few years have been hard for everyone. As the pandemic fears started to ease, inflation and rising interest rates began to grow. With everyone focused on cutting back and doing less, there is the presumption that all the fun and joy must be lost as well. But life is too short to live this way. So, in this episode, I will be discussing the relationship between happiness and money, specifically how to find joy in your life regardless of your financial situation.
Listen in as I explain why more money doesn’t necessarily mean more happiness. (It's what you do with the money that truly counts.) You will learn that the little things often make the biggest impact and how you can bring more joy to those around you.
“Our finances give us the opportunity to experience joy if we look for it.” - Tracey Bissett
This Week on Young Money:
- The importance of showing gratitude for your money.
- How to shift your mindset to one of abundance.
- The relationship between money and happiness.
- Whether money truly can buy happiness.
- How to find more joy in your life.
Key takeaways:
- Be grateful.
- Talk about finances.
- Focus on what you can control.
- Be kind to loved ones.
Resources Mentioned:
- EP063 Money Mindfulness with Jessica Moorhouse
- EP076 Happy Go Money with Melissa Leong
- EP249 Control Money Movements with Interac
- EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Today we are celebrating 5 years of Young Money! Together we have created 273 episodes, are listened to in over 40 countries, and have surpassed 290,000 downloads! It is my absolute privilege to create educational and fun financial content, as well as host amazing guests to help and inspire you along your financial fitness journey. Whether you're checking out the show for the first time today, have been a loyal listener since the beginning, or fall somewhere in between, I am so thankful that you are here.
I believe that financial literacy is a fundamental life skill. It's not about knowing everything—it's about taking those small imperfect actions that increase your foundation of financial knowledge so you can navigate your life, personally and professionally, with confidence. To me, that means being comfortable asking questions, following up if you don’t understand something, being kind to yourself when you make a mistake, and approaching things from a mindset of abundance. In this episode, I want to thank you for your steadfast support, continuous questions, and feedback on the show.
“I can honestly say that starting a podcast was one of the best decisions I have ever made.” - Tracey Bissett
This Week on Young Money:
- Why I started the podcast.
- My hesitations about starting a podcast.
- The drama that I went through in 2020 with my podcast.
- Why I have held tight to my show.
Key takeaways:
- Always do your due diligence.
- Believe in yourself.
Resources Mentioned:
- EP181 Milli Moves: How to Avoid FOMO When Investing
- EP047 Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP072 Multi- Level Marketing – Is It the Right Opportunity for You?
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained
- EP230 Your Better Instincts with Dr. Stacy Irvine
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP228 Balance: How To Invest and Spend for Happiness, Health and Wealth Andrew Hallam
- EP236 Good Investment or Investment Scam?
- EP235 How to Protect Yourself from the Romance Scam
- EP234 MoneySense with Lisa Hannam
- EP244 Financial Curiosity with Elke Rubach
- EP248 Showcase of Young Money Scholarship Recipients
- EP247 Buy Now, Pay Later 101
- EP256 Tips to Combat Inflation
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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With the holidays just around the corner, many Canadians are wondering how they’re going to make their budgets work when it comes to gift-giving and holiday travel. In fact, according to new research from Interac Corp., the majority of Canadians say they are facing barriers that hinder feelings of financial control this year, with 49% saying the current economic situation has negatively impacted their confidence in managing everyday finances. So how can we set ourselves up for a successful holiday season ahead? In this episode, I will be sharing some tips and tricks for navigating the holidays so that you can feel more confident when it comes to your finances.
Listen in as I explain how to communicate with your loved ones about what they may benefit from this season so that you can help them in a meaningful way rather than simply giving them a gift. You will learn that it is okay to let your loved ones know about your financial situation so that they are aware of what you can do and how to have fun this season, even if your budget is a little tighter than usual.
“Things don’t have to be hard on your finances to make an impact.” - Tracey Bissett
This Week on Young Money:
- The number of people feeling a lack of confidence in their finances this year.
- Why holiday spending is expected to fall a significant percent.
- How you can offer to help your loved ones during the holiday season.
- Tips for navigating the holiday season.
- The benefit of communicating with your loved ones about their wants this season.
- Free options to celebrate the holidays with loved ones.
Key takeaways:
- Re-frame the season.
- Get back to basics.
- Set limits.
- Be honest about your situation.
- Make a list.
Resources Mentioned:
- EP011 Financial Fitness Tips for the Holidays
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP131 Adulting 101: Why You Need a Will and Powers of Attorney with Erin Bury
- EP219 Future of Pandemic Money Habits with D'Arcy McDonald, SVP Scotiabank
- EP222 Why Financial Literacy Matters at Work
- EP226 Financial Accountability Over Financial Resolutions
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
It is becoming increasingly clear that money and our mental health are directly tied together. The stress of not having money can cause anxiety, increase tiredness, and make us physically sick, more irritable, and short-tempered. So, it is critical that we make sure we're staying on top of our finances, seeking help as needed, and accepting our imperfections.
In this episode, I will share three tips that can improve your mental health when it comes to money and finances to help you throughout this financially stressful time. Listen in to make sure you have the tools and tricks you need to minimize the stress you’re carrying in relation to finances in your life.
"When you don’t know the facts, your situation can feel overwhelming. So get down to the facts of your financial situation.” - Tracey Bissett
This Week on Young Money:
- How mental health can be impacted by finances.
- Several statistics around people’s current mental health in regard to finances.
- How to avoid feeling overwhelmed about your finances.
- The benefit of asking for help when it comes to your finances.
- How to make a plan for your finances.
Key takeaways:
- Calculate your net worth.
- Review your budget.
- Negotiate lower rates.
- Get your financial facts.
- Don’t go it alone.
- Make a plan.
-
Have grace with yourself.
Resources Mentioned:
-
EP044 Dangers of Payday Loans
- EP056 Back to Basics – The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP238 Get Your Mindset and Money Right with Zandile Chiwanza
-
EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Due to the current state of the financial world, I wanted to review more powerful interviews we've had on the podcast where our guests shared fantastic advice to help you navigate debt. We have had so many amazing guests in the past who have offered tips that remain timeless, so in this episode, we will be listening to key takeaways from our interviews with Zandile Chiwanza and Kelley Keehn.
Listen in as Kelley shares the inspiration for her book, Rich Girl, Broke Girl, as well as the hidden costs of an expensive lifestyle and her advice for those just starting out in the financial world. You will also learn about Zandile’s experiences as a newcomer to Canada, her feelings around money, and her advice for dealing with debt.
“Like oxygen, if you don't have money, it can be suffocating.” - Kelley Keehn
This Week on Young Money:
- The inspiration for Kelley Keehn’s book.
- The hidden costs of an expensive lifestyle.
- Kelley’s positive, practical approach to money.
- Why some women aren’t leaning into their finances as much as they should.
- The connection between money and mental health.
- The anxiety that can arise when feeling fearful about finances.
- The value of having a supportive group of people.
- Zandile’s experiences as a newcomer to Canada.
- How she navigated finances when she first got to Canada.
- How she dealt with debt as a newcomer.
Key takeaways:
- Seek out expert advice.
- Educate yourself.
- Be open-minded around wealthy people.
- Assess your beliefs around money.
- Don’t let anxiety run your life.
- Ask for help when needed.
- Surround yourself with supportive people.
-
Communicate your concerns.
Resources Mentioned:
-
EP044 Dangers of Payday Loans
- EP056 Back to Basics – The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP238 Get Your Mindset and Money Right with Zandile Chiwanza
-
EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We are living in a time of high inflation and increasing interest rates, leading to many companies cutting previously secure jobs. It is beginning to be harder to make ends meet as our income no longer goes as far as it used to. If you are like many people carrying variable-rate debt, your payments are taking up more and more of your budget than before. Due to this current state of the world, I wanted to review some interviews we’ve previously had on the show where our guests have shared some fantastic advice that can help you navigate these uncertain times.
Listen in as Erin Skye Kelly explains the importance of reviewing your budget, understanding how your budget and net worth work together, and taking action every day—regardless of how small it may seem. You will learn tips for those dealing with bankruptcy, what it means to work with a licensed insolvency trustee, and common misconceptions about consumer proposals and bankruptcies.
“Pay attention to how your budget and your net worth work together.” - Erin Skye Kelly
This Week on Young Money:
- The importance of asking for help with finances whenever you feel unsure.
- Common issues that people face when it comes to finances.
- Why you shouldn’t fear taking action.
- The importance of paying attention to how your budget and your net worth work together.
- What it means to work with a licensed insolvency trustee.
- Common misconceptions about consumer proposals and bankruptcies.
Key takeaways:
- Don’t be intimated by financial books.
- Take small actions every single day.
- Find what works for you when reviewing your budget.
-
Get rid of your debt.
Resources Mentioned:
-
EP044 Dangers of Payday Loans
- EP056 Back to Basics – The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
-
EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Financial fitness is not only about learning the basics of financial matters, but also securing the income that will make financial freedom possible. In order to achieve a well-paying position with your desired organization, it is essential to understand what is required of you in the workplace. So, in this episode, I’m sharing my recent experiences with employers and the tips they shared to ensure you’re ready to start your career.
During student engagement week, graduating students in the financial services program were given the opportunity to participate in experiential learning opportunities. Listen in as I explain the key takeaways from this session, including the importance of being willing to work hard, working well within a team, and being adaptable.
“We need to be resilient and regroup at times.” - Tracey Bissett
This Week on Young Money:
- The importance of working hard and being eager to succeed.
- Why it is important to not only ask questions but answer questions too.
- The benefit of being a good team player.
- How to be more resilient in the work place.
- How to enhance your readiness for a career.
Key takeaways:
- Work hard.
- Be adaptable.
- Be resilient.
- Be curious.
- Be humble.
-
Be present.
Resources Mentioned:
-
EP043 Create a Stand Out Cover letter, Resume and LI Profile with Kamara Toffolo
- EP105 New Country New Life; Navigating Life & Financial Fitness with Susan Diaz
- EP107 Milli Moves: You Asked & Hilda Gan Answered
- EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
- EP214 Backpack to Briefcase with Stephanie Koonar
- EP260 Banking for Newcomers to Canada with Tracy Gomes, SVP Scotiabank
- BMO
-
Alterna
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
November is Financial Literacy Month in Canada. During Financial Literacy Month, the Financial Consumer Agency of Canada engages and works together with organizations across the country to help strengthen the financial literacy of individuals and families. The theme for 2022 is: Managing Your Money in a Changing World. Throughout the month, they’re focusing on different themes for each week, and in this episode, I will be explaining how you can make a difference in your financial situation today.
As the financial marketplace grows increasingly complex, it is crucial that Canadians have the knowledge, skills, and confidence to make informed decisions about the financial products and services that best meet their needs. Financial fitness is important, not only for the financial well-being of individuals, but also for the economy. Remember: understanding the basics of money is as essential today as numeracy and basic literacy, so make sure to tune in!
“Financial literacy means having the knowledge, skills, and confidence to make responsible financial decisions. This requires small, imperfect actions each day and showing kindness to ourselves when we make a misstep.” - Tracey Bissett
This Week on Young Money:
- The theme of this year's financial literacy month.
- The importance of taking small, imperfect steps towards financial literacy every day.
- How to find the balance between debt repayments and daily spending.
- Why you should think carefully about borrowing money from banks.
Key takeaways:
- Educate yourself about finances.
- Don’t let your debt get out of control.
- Find your financial balance.
- Save for future goals.
- Borrow money wisely.
-
Know your rights.
Resources Mentioned:
-
EP044 Dangers of Payday Loans
- EP056 Back to Basics - The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
- EP227 Money Like You Mean It with Erica Alini
-
EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
With the rising cost of living due to inflation, many Canadians are stuck relying on credit cards and loans in order to pay for necessary items in their lives. This is causing an increase in debt levels and an overall fear of finances for a lot of people. Our guest today is Eva Wong, Co-Founder and Chief Operating Officer at Borrowell, a financial technology company dedicated to making financial prosperity possible for everyone. In this episode, Eva will be sharing her advice for those Young Money listeners wanting to get out of debt and build their credit scores so they can start working toward financial well-being.
Listen in as Eva explains the importance of surrounding yourself with successful people who are either on the same path as you or are where you want to be in your career. You will learn several tips for improving your credit score, the benefit of focusing on one small action toward your goals, and why you should never get complacent with your financial situation.
“Your happiness isn’t necessarily a one-for-one direct correlation with how much money you’re making.” - Eva Wong
This Week on Young Money:
- Eva’s journey to entrepreneurship and how she ended up where she is today.
- The importance of understanding your financial and debt situation.
- How to be more self-motivated.
- Why the amount of money you make doesn’t necessarily correlate with how happy you are.
- Eva’s advice for improving your credit score.
Key takeaways:
- Find your passion.
- Use technology to your advantage.
- Don’t get complacent.
- Surround yourself with good people.
- Check your credit score often.
Connect with* Eva:***
- Website
- Borrowell Facebook
- Borrowell Instagram
- Borrowell Twitter
-
Borrowell LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
-
Rent Advantage
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Breaking money silence is more important than it has ever been before. With inflation rising and increasing interest rates, there are many people suffering—and many of them are suffering in silence. This means instead of receiving the help they require to make better financial decisions during these tough financial times, they feel as though they have to suffer alone. So, how do we start the conversation about money so we can begin to build our wealth? In this episode, Jackie Porter, award-winning CFP, bestselling author, and featured speaker, will be joining the show to share her advice for anyone hoping to help their financial situation regardless of where they are in life.
Listen in as Jackie explains financial racism, including how this shows up in our financial systems. You will learn why women and people of color struggle more with finances, how we can help people of color access more financial opportunities, and the importance of frequently revisiting your budget.
“Having conversations with people you trust [about your finances] is so crucial for your mental health and your ability to build wealth.” - Jackie Porter
This Week on Young Money:
- What Jackie is seeing most people struggle with right now in terms of finances.
- Why it is important to break the stigma about money conversations.
- The benefit of starting the conversation about money with those you trust.
- How money and mindset are tied together.
- What financial racism is and how it shows up in life.
Key takeaways:
- Talk to a professional.
- Speak about money with your friends and family.
- Take action around your finances.
- Don’t feel ashamed to discuss money.
- Revisit your budget.
Connect with Jackie Porter:
- Website
-
Instagram
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- Black Opportunity Fund
- EP006 What are Your Intentions ... Financially Speaking with Jackie Porter?
- EP069 How to be Financially Resilient with Jackie Porter
-
EP203 Financial Impacts of Anti-Black Racism in Canada with Jackie Porter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Money impacts everyone on a daily basis, yet many people feel disconnected, especially when it comes to spending and savings habits. The truth is that every decision you make, including every purchase, does impact your overall budget and savings. So, how can we change our spending habits to be more aligned with our long-term goals? In this episode, Kathy Kasten, Founder and CEO of Lion Crest Leadership, will be joining the show to share the conscious choices she has made that have led to her ability to live a financially free life—and how you can do the same.
Listen in as Kathy explains the importance of living within your means, finding ways to save money, and ensuring you are saving for retirement as soon as possible. You will learn the benefit of focusing on what truly matters in your life, such as family and loved ones rather than money or success. Finally, Kathy describes the lessons she learned throughout the many different jobs she has had over the years.
“Money doesn't buy happiness, and you don’t need everything that you see.” - Kathy Kasten
This Week on Young Money:
- The importance of remembering that money doesn’t buy happiness.
- Why we should surround ourselves with people who have similar money views.
- The value in getting a job while you’re in high school.
- The importance of saving for retirement from a young age.
- How to focus on what really matters to you in your life.
Key takeaways:
- Make conscious purchases.
- Don’t get caught up in living a lavish life.
- Live within your means.
- Save for retirement early on.
- It’s always okay to revisit and adjust.
Connect with* Kathy:***
- Website
-
LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP053 Choose Your Path to Financial Success
- EP076 Happy Go Money with Melissa Leong
- EP173 From J-POP to Entrepreneurship with Kim Cooper, CEO of Youth Culture Inc.
- EP257 Entrepreneurship Spotlight with Jowana and Melisa
-
EP261 Financial Fitness in Action with Lisa Mitchell
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Throughout the pandemic, our budgets and spending habits changed immensely. We started ordering groceries online, added to our subscriptions, signed up for online courses, etc. As we gradually come out of the pandemic, many of us may not have taken the time to reevaluate our budgets, and with inflation hitting all-time highs, our money isn’t going as far as it used to. In this episode, I will be walking through some practical steps to ensure your budget is right sized—meaning you haven’t fallen back into old spending habits without removing any pandemic budget additions.
Listen in as I explain the importance of canceling any new additions from the pandemic that you may no longer be using and making room for the new food expenses, concerts, travel, etc. You will learn how to take a mindful moment before making a purchase, how to feel in control of your spending and debt, and more.
"Take time to review your spending and alter your budget.” - Tracey Bissett
This Week on Young Money:
- Why it is essential that you review your budget frequently.
- How the pandemic has impacted our spending habits.
- How to ensure you’re not paying for subscriptions you don’t use.
- Findings from a recent study on spending in Canada.
- How to take a mindful moment to decide if you really need to buy what you’re about to buy.
Key takeaways:
- Create a budget.
- Review your spending.
-
Be mindful with purchases.
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- Canadians prioritize intentional spending as nearly nine in 10 feel the financial pinch
- EP063 Money Mindfulness with Jessica Moorhouse
- EP249 Control Money Movements with Interac
-
EP262 Taking Control of Our Money with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kelley Keehn believes everyone has money problems. That’s as true for millionaires as it is for people who spend years trying to pay off their student debt. However, these last few years have been especially challenging for everyone. With the pandemic and the current state of the economy, it can be difficult to know what to do to secure your finances. So, in this episode, Kelley will be joining the show to share her tips for navigating these uncertain times.
Listen in as Kelley explains the importance of reviewing your spending so you know where your money is going and why it is essential to keep an eye on your debts. You will learn why "buy now, pay later" isn’t necessarily a great idea, why you should open the lines of communication with the CRA, and how to make your budget work.
"There is money out there for you. Widen your gaze and look for it.” - Kelley Keehn
This Week on Young Money:
- The importance of remembering that everyone is currently feeling the impact of inflation.
- How to ensure you’re not overspending your money.
- The benefit of reviewing your subscriptions often to make sure you actually need them.
- How to keep an eye on your debt to minimize interest.
- What you should be aware of before using "buy now, pay later."
- How to make your budget work.
Key takeaways:
- Everyone has money problems.
- Track where your money is going.
- Be brave and speak to your bank.
- Pay attention to your debt.
- Take advantage of employee benefits.
- File your taxes as soon as possible.
Connect with Kelley Keehn:
-
Website
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern
-
EP229 Rich Girl, Broke Girl with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kelley Keehn believes everyone has money problems. That’s as true for millionaires as it is for people who spend years trying to pay off their student debt. However, these last few years have been especially challenging for everyone. With the pandemic and the current state of the economy, it can be difficult to know what to do to secure your finances. So, in this episode, Kelley will be joining the show to share her tips for navigating these uncertain times.
Listen in as Kelley explains the importance of reviewing your spending so you know where your money is going and why it is essential to keep an eye on your debts. You will learn why "buy now, pay later" isn’t necessarily a great idea, why you should open the lines of communication with the CRA, and how to make your budget work.
"There is money out there for you. Widen your gaze and look for it.” - Kelley Keehn
This Week on Young Money:
- The importance of remembering that everyone is currently feeling the impact of inflation.
- How to ensure you’re not overspending your money.
- The benefit of reviewing your subscriptions often to make sure you actually need them.
- How to keep an eye on your debt to minimize interest.
- What you should be aware of before using "buy now, pay later."
- How to make your budget work.
Key takeaways:
- Everyone has money problems.
- Track where your money is going.
- Be brave and speak to your bank.
- Pay attention to your debt.
- Take advantage of employee benefits.
- File your taxes as soon as possible.
Connect with Kelley Keehn:
-
Website
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern
-
EP229 Rich Girl, Broke Girl with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Stephanie Koonar is a marketing professional, academic, career coach, and workshop facilitator. Stephanie offers “Meaningful Career” private coaching and online courses supporting young people and those in mid-career transitions. Today she joins the show to discuss the importance of finding your reason for living—or ikigai—in order to live a more purpose-driven and fulfilled life.
Listen in as she shares her advice for building practical skills, as well as growing your network so you can broaden your knowledge. You will learn the benefit of learning about other cultures, why it is important to be open to different world views, and tips for any job-seekers looking to make their way into a long-term career.
“It’s really about applying your gifts and strengths to a career that’s meaningful to you.” - Stephanie Koonar
This Week on Young Money:
- Stephanie’s background and how she became involved in her career.
- The inspiration that led Stephanie to write her book.
- What the ikigai framework is and why we should care about it.
- Why it is important to learn about other cultures.
- The benefit of thinking about the long game in your education and career.
Key takeaways:
- Find your purpose.
- Build your network.
- Broaden your social circle.
- Be open to different views.
Connect with Stephanie Koonar:
- Website
-
LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- Backpack to Briefcase: A Student's Guide to a Meaningful Career Journey by Stephanie Koonar
- EP043 Create a Stand Out Cover letter, Resume and LI Profile with Kamara Toffolo
- EP110 Milli Moves: ASPIRE with Karla Badger-Brown of Toronto Finance International
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students
-
EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Stephanie Koonar is a marketing professional, academic, career coach, and workshop facilitator. Stephanie offers “Meaningful Career” private coaching and online courses supporting young people and those in mid-career transitions. Today she joins the show to discuss the importance of finding your reason for living—or ikigai—in order to live a more purpose-driven and fulfilled life.
Listen in as she shares her advice for building practical skills, as well as growing your network so you can broaden your knowledge. You will learn the benefit of learning about other cultures, why it is important to be open to different world views, and tips for any job-seekers looking to make their way into a long-term career.
“It’s really about applying your gifts and strengths to a career that’s meaningful to you.” - Stephanie Koonar
This Week on Young Money:
- Stephanie’s background and how she became involved in her career.
- The inspiration that led Stephanie to write her book.
- What the ikigai framework is and why we should care about it.
- Why it is important to learn about other cultures.
- The benefit of thinking about the long game in your education and career.
Key takeaways:
- Find your purpose.
- Build your network.
- Broaden your social circle.
- Be open to different views.
Connect with Stephanie Koonar:
- Website
-
LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- Backpack to Briefcase: A Student's Guide to a Meaningful Career Journey by Stephanie Koonar
- EP043 Create a Stand Out Cover letter, Resume and LI Profile with Kamara Toffolo
- EP110 Milli Moves: ASPIRE with Karla Badger-Brown of Toronto Finance International
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students
-
EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As a talent management thought partner and results coach, Lisa Mitchell helps talent leaders embed programs that drive results and elevate organizational culture. Today she joins the show to discuss her experience with financial literacy, including the challenges she has faced financially over the years and her best advice for others hoping to better their financial fitness.
Listen in as Lisa describes the importance of investing, paying off your debt, and changing your scarcity mindset. You will learn the benefit of learning how business works, what compound interest is, and what scale is.
“Read the fine print and make sure that you understand [what you’re reading].” - Lisa Mitchell
This Week on Young Money:
- What a day in the life of Lisa looks like.
- The biggest financial challenge Lisa has faced.
- The importance of investing.
- How to change your scarcity mindset.
- Why you should educate yourself on how business works.
- How Lisa has diversified her financial fitness.
- What compound interest is.
- The benefit of teaching your children about finances.
Key takeaways:
- Take money to grow money.
- Pay off debt.
- Teach your children about money.
- Read the fine print.
- Be purposeful with how you spend your time.
- Build up an emergency fund.
Connect with Lisa Mitchell:
- Website
Resources Mentioned:
* EP211 Milli Moves: How to Maximize your Employee Benefits
- Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As a talent management thought partner and results coach, Lisa Mitchell helps talent leaders embed programs that drive results and elevate organizational culture. Today she joins the show to discuss her experience with financial literacy, including the challenges she has faced financially over the years and her best advice for others hoping to better their financial fitness.
Listen in as Lisa describes the importance of investing, paying off your debt, and changing your scarcity mindset. You will learn the benefit of learning how business works, what compound interest is, and what scale is.
“Read the fine print and make sure that you understand [what you’re reading].” - Lisa Mitchell
This Week on Young Money:
- What a day in the life of Lisa looks like.
- The biggest financial challenge Lisa has faced.
- The importance of investing.
- How to change your scarcity mindset.
- Why you should educate yourself on how business works.
- How Lisa has diversified her financial fitness.
- What compound interest is.
- The benefit of teaching your children about finances.
Key takeaways:
- Take money to grow money.
- Pay off debt.
- Teach your children about money.
- Read the fine print.
- Be purposeful with how you spend your time.
- Build up an emergency fund.
Connect with Lisa Mitchell:
- Website
Resources Mentioned:
* EP211 Milli Moves: How to Maximize your Employee Benefits
- Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Throughout the pandemic, immigration plateaued in Canada. However, as we continue to rebuild after the last few years, we have seen a huge influx of newcomers. To better understand the experiences of newcomers and the unique challenges they face as they begin their lives in Canada, Scotiabank conducted interviews with some of these newcomers. In this episode, Tracy Gomes, SVP Retail Customer Value at Scotiabank, will be sharing what they learned from this research and sharing her advice for anyone hoping to improve their banking skills as they live in Canada.
Listen in as Tracy describes the top challenges that newcomers experience when they move to Canada, as well as how to build up your financial literacy. You will learn the importance of protecting yourself from fraud, why you should reach out for help if you need it, and the benefit of learning how credit products work.
“Moving to a new country presents all kinds of challenges and worries, and getting set up financially can be one of the most significant.” - Tracy Gomes
This Week on Young Money:
- Challenges that newcomers to Canada experience.
- The benefit of building up your credit score.
- Why being aware of fraud is crucial.
- The importance of making banking easier for everyone.
- The value in having financial literacy provided to everyone.
Key takeaways:
- Build up your financial literacy.
- Learn how credit products work.
- Build up credit.
- Beware of fraud.
- Get access to online banking.
Connect with* Tracy:***
Resources Mentioned:
* 60-second Start Right by Scotiabank (English)
- 60-second Start Right by Scotiabank (French)
- Scotiabank
- StartRight Program
- ScotiaRise
- Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Throughout the pandemic, immigration plateaued in Canada. However, as we continue to rebuild after the last few years, we have seen a huge influx of newcomers. To better understand the experiences of newcomers and the unique challenges they face as they begin their lives in Canada, Scotiabank conducted interviews with some of these newcomers. In this episode, Tracy Gomes, SVP Retail Customer Value at Scotiabank, will be sharing what they learned from this research and sharing her advice for anyone hoping to improve their banking skills as they live in Canada.
Listen in as Tracy describes the top challenges that newcomers experience when they move to Canada, as well as how to build up your financial literacy. You will learn the importance of protecting yourself from fraud, why you should reach out for help if you need it, and the benefit of learning how credit products work.
“Moving to a new country presents all kinds of challenges and worries, and getting set up financially can be one of the most significant.” - Tracy Gomes
This Week on Young Money:
- Challenges that newcomers to Canada experience.
- The benefit of building up your credit score.
- Why being aware of fraud is crucial.
- The importance of making banking easier for everyone.
- The value in having financial literacy provided to everyone.
Key takeaways:
- Build up your financial literacy.
- Learn how credit products work.
- Build up credit.
- Beware of fraud.
- Get access to online banking.
Connect with* Tracy:***
Resources Mentioned:
* 60-second Start Right by Scotiabank (English)
- 60-second Start Right by Scotiabank (French)
- Scotiabank
- StartRight Program
- ScotiaRise
- Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Hala Taha is the host of the Young and Profiting (YAP) Podcast, frequently ranked as a #1 education podcast across all apps. Hala is also the founder and CEO of YAP Media, a social media and podcast marketing agency for podcasters, celebrities, and CEOs. In this episode, she joins the show to share her advice for those looking to start their own successful businesses through gaining experience, talent stacking, and finding confidence in their strengths.
Listen in as Hala gives her tips for investing and why she believes you should invest instead of compiling your money into a savings account. You will learn the importance of being open to opportunities, why you should ensure you have demand before you invest your money, and the benefit of being flexible.
“A lot of people think you need to just get really good at one thing. Well, I would like to argue that if you’re pretty good at ten things, and you can stack them together in a unique way, you can put out incredible offering into the world.” - Hala Taha
This Week on Young Money:
- The importance of diversifying your experiences.
- The benefit of working in a customer service job at least once in your life.
- What talent stacking is and how you can implement this strategy into your life.
- Why being open to opportunities as they come up is key.
- The benefit of investing instead of simply putting money into a savings account.
- Why timing truly does make all the difference.
- The importance of being willing to pivot when needed.
Key takeaways:
- Work hard.
- Find what you love to do.
- Pay attention to the opportunities around you.
- Do it for yourself first.
- Test before you invest.
Connect with Hala:
- Podcast
Resources Mentioned:
* Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Maya Ray owns and operates FYC Vending, which (in just two short years) she has turned into a 6-figure company. Maya's goal now is to pass on the knowledge and expertise she has built in this industry to students and young adults who are going through what she went through only a few years ago. In this episode, she joins the show to share her success secrets and advice for anyone hoping to start as an entrepreneur.
Listen in as Maya explains the importance of finding people you can learn from who are already experts in their field, as well as why you need to research the credibility of where you’re getting your information. You will learn why you can’t wait for things to be perfect to start working towards your goals, how to be more confident in what you’re doing, and the long-term benefit of taking small steps every single day towards your dreams.
“Be willing to put yourself out there.” - Maya Ray
This Week on Young Money:
- What a day in the life of Maya looks like.
- Why budgeting is crucial.
- The benefit of learning from others who are in the same industry as you.
- Why you shouldn’t wait for things to be perfect.
- The value in finding people who have experience in what you’re trying to do.
- The importance of deep diving into whatever area of expertise you want to go into.
Key takeaways:
- Find what you’re passionate about.
- Create a budget.
- Learn from others.
- Put yourself out there.
- Be confident.
- Take small steps towards goals.
- Work hard.
Connect with* Maya:***
- FYC Vending
- Course
Resources Mentioned:
* Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Entrepreneurship is often a difficult journey. Starting a business as a woman at a young age simply adds more challenges. Our two guests today have both created something inspirational by themselves and have truly showcased what it means to have an entrepreneurial spirit. Jowana Burgan is a recent Mechanical Engineering Graduate who has initiated the Girls Mechanic Team, running hands-on workshops that educate and empower women on the basics of car maintenance. Melisa Cela is an International Business graduate who founded a successful Lash Extension business. In this episode, they share their advice for being a young entrepreneur.
Listen in as Jowana explains the importance of being persistent when you are going after what you want, why you shouldn't be afraid to charge for your hard work, and the value of remembering you’re in control of your own destiny. Melisa describes the importance of having people skills, why you should focus on happiness over how much money you make, and the benefit of starting a savings account early.
“There is so much you can do with motivation, but once you’re faced with an obstacle, that all goes away. So, if you’re not persistent with trying to find new and creative ways to get what you want, it’s going to be very difficult to succeed.” - Jowana Burgan
This Week on Young Money:
- Why you shouldn’t let your fear of failure stop you from starting.
- The importance of networking when you’re building a business.
- The benefit of diversifying your skills and meeting people in different industries.
- How Jowana continued her entrepreneurial journey through the pandemic.
- Why you should take control of your own destiny.
- The importance of asking for what you really want.
- The benefit of focusing on happiness over the amount of money you’re making.
Key takeaways:
- Be persistent.
- Make time for what you love.
- Network with different people.
- It’s okay to charge people for the work you do.
- Find your passion.
- Don’t set unrealistic expectations.
- Focus on happiness.
- Never be afraid of promoting your business.
Connect with* Melisa & Jowana:***
- Melisa Cela: Instagram | LinkedIn
- Jowana Burgan: Instagram | LinkedIn | YouTube | Website
Resources Mentioned:
* Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Over the last few months, you’ve probably heard the word “inflation” numerous times. Inflation refers to a general progressive increase in the prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. So, how does this impact you and your goals? In this episode, I will break down this topic in depth so that you feel confident in your understanding of inflation.
Listen in as I explain the pros and cons of inflation, as well as the cause behind the inflation we are currently experiencing. You will learn what you can do to protect yourself, the importance of knowing what your financial situation is, and how to set realistic financial goals throughout this time period.
“We need to know realistically what our goals are, and we need to know how much money is coming in and how much is going out.” - Tracey Bissett
This Week on Young Money:
- The pros and cons of inflation.
- What inflation actually is.
- What causes inflation.
- How we can control inflation (if we can).
- The importance of having a savings account for unexpected bills.
- How to potentially reduce your bills and weekly spending.
Key takeaways:
- Review your values.
- Set goals.
- Understand your current financial situation.
- Build an emergency fund.
- Pay down debt.
- Keep an eye on your bills.
- Go through your benefits.
Resources Mentioned:
* Young Money Student Podcasts
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP219 Future of Pandemic Money Habits with D’Arcy McDonald, SVP Scotiabank
- EP222 Why Financial Literacy Matters at Work
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP231 Back to Basics
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
In the fast-paced, over-worked society that we live in, setting aside time for rest throughout the day is becoming crucial for mental health. However, it is tricky to find a comfortable spot to take a snooze. This is where Plufl comes in. Inspired by the classic dog bed, the Plufl is designed to alleviate stress and anxiety by providing a space to recharge. Noah Silverman and Yuki Kinoshita, Co-Founders of Plufl, will be joining the show to share their advice for other young entrepreneurs, including their secrets to success.
Listen in as they describe the importance of not having debt and how to get helpful feedback on your product ideas. You will learn missteps to avoid on your entrepreneurship journey, why you shouldn’t wait for the “perfect time,” and how to leverage the resources available to you.
“You have to be selective with the advice you get and people you surround yourself with.” - Yuki Kinoshita
This Week on Young Money:
- The day-to-day life of Yuki and Noah.
- How the idea of Plufl came to be.
- The power of having good problem-solving skills.
- The importance of surrounding yourself with the right people.
- The benefit of finding work that resonates with you.
- How to use crowdfunding to grow your business.
Key takeaways:
- Never discount the basics.
- Your time is valuable.
- Surround yourself with like-minded people.
- Harness your creativity.
- Take advantage of the moment.
- Lean on friends.
- Spend time on what you’re passionate about.
Connect with* Noah & Yuki*:
- Plufl: Instagram | Facebook | TikTok | Website | LinkedIn
- Yuki Kinoshita: LinkedIn
- Noah Silverman: LinkedIn
Resources Mentioned:
* Young Money Student Podcasts
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we are showcasing two more young money scholarship recipients, Bradford Sonnenberg and Jasmine Hasmatali. These students are incredibly insightful and share their post secondary experiences, including what is and isn’t working for them. They also describe in depth how scholarships have impacted their lives and share their advice for anyone thinking about applying for scholarships themselves.
Listen in as Bradford talks about how scholarships have been a life-saver, as well as the importance of finding a balance of taking school seriously—but not too seriously. Jasmine opens up about the importance of taking risks and why you shouldn’t be afraid to ask or apply for scholarships. Both offer incredible insight that you don't want to miss!
“Don’t let bad marks on assignments that you’ve tried on bother you.” - Bradford Sonnenberg
This Week on Young Money:
- Advice for young millionaires in the making.
- Tips for how to get your own scholarship.
- The impact a scholarship can have on your life.
- Why you should always take notes.
- The adjustment period of going to post secondary after high school.
- Why checking on reviews of professors is key.
- The benefit of having vulnerable conversations.
Key takeaways:
- Take notes during school.
- Apply regardless of circumstances.
- Take university seriously—but not too seriously.
- Don’t be afraid to take risks.
- Stick to the things that make you happy.
- Remember that goals do change.
- Find things that inspire you.
Connect with* Jasmine Hasmatali*:
Connect with* Bradford Sonnenberg*:
Resources Mentioned:
* Young Money Student Podcasts
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students Ricardo Garcia and Janine Walters
- EP159 Milli Moves: Seeking Scholarships with Glenda Healy
- EP169 Celebrating the Young Money Scholarship Recipients
- EP171 Spotlight on Young Money Scholarship Recipients Leeah & Erica
- EP176 Spotlight on Young Money Scholarship Recipients Sharaf & Courtney
- EP248 Showcase of Young Money Scholarship Recipients
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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When making purchasing decisions, it is becoming apparent that many of us are beginning to take into consideration the ethicality of what we are buying and how it is produced. Spending ethically doesn’t have to be difficult, and it doesn’t mean that you can’t save money while doing so. Our guest today, Tanja Hester, knows this topic very well. Tanya is the author of two award-winning books, Work Optional and Wallet Activism, and is best known for retiring from her career at the age of 38. In this episode, she will be sharing several things to think about next time you’re faced with a spending decision to ensure you’re spending ethically.
Listen in as Tanja explains why you don’t have to be making a lot of money to purchase ethically sourced goods, as well as how to think about the consumerism problems. You will learn the flaws in how we currently think about activism, how to look into what you’re funding by purchasing from a specific company, and how to ensure you’re purchasing from businesses that actually stand by what they claim.
“There is this idea that you have to make a lot of money to be able to ethically spend, but I just really reject that idea.” - Tanja Hester
This Week on Young Money:
- How to use every dollar spent as a force for change.
- What Tanja enjoys most about being work-optional.
- The things you can do today that make a big impact.
- How to think outside of consumerism.
- Where the world is missing the mark on activism.
- How to take a broader view on the way we approach things.
- Four questions to identify how to make better money choices.
Key takeaways:
- Never stop learning.
- Do your research.
- Consumerism will not fix anything.
- Be more expansive in your thinking.
- Educate yourself.
Connect with* Tanja Hester*:
- Personal LinkedIn
- Personal Website
- Our Next Life
- Our Next Life Twitter
- Our Next Life Instagram
- Our Next Life Facebook
- Wallet Activism Podcast
Resources Mentioned:
* Young Money Student Podcasts
- EP188 Being the Person Your Dog Thinks You Are with Jim Davies
- Stop the Money Pipeline
- Buycott
- Influence Map
- Corp Watch
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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It is never too early to learn about scholarships and the impact they can make on not only your education, but also your entire life. In this episode, we are shining a spotlight on two of the Young Money Scholarship recipients: Alain Lavoie and Alexandra Snider. These post secondary students are incredibly bright and will share so many great tips with you about their post secondary experiences and how scholarships have changed their lives.
Listen in to learn why doing what you enjoy is so important—because if you don't, you won’t be successful in hitting your goals. You will hear the importance of getting educated, why you should always believe in yourself, and how your perspectives can be broadened by attending post secondary school.
“Education is the most powerful tool.” - Alain Lavoie
This Week on Young Money:
- Why education is the most powerful tool in the world.
- The importance of doing what you enjoy.
- How to be more successful at hitting your goals.
- Why you must believe in yourself.
- The benefit of applying for any scholarship.
- Why you do not have to be in a heap of debt to go through university.
Key takeaways:
- Take chances.
- Get educated.
- Be open.
- Make goals.
- Think long-term.
Connect with* Alexandra Snider*:
Connect with* Alain Lavoie*:
Resources Mentioned:
* Young Money Student Podcasts
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students Ricardo Garcia and Janine Walters
- EP159 Milli Moves: Seeking Scholarships with Glenda Healy
- EP169 Celebrating the Young Money Scholarship Recipients
- EP171 Spotlight on Young Money Scholarship Recipients Leeah & Erica
- EP176 Spotlight on Young Money Scholarship Recipients Sharaf & Courtney
- EP248 Showcase of Young Money Scholarship Recipients
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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After going through financial problems herself, Alyssa Davies discovered a need for a safe and non-judgemental space for people to discuss their finances. This discovery led to the creation of her finance blog, Mixed Up Money, which has now won Canadian Personal Finance Blog of the Year twice. Today Alyssa joins the show to discuss the importance of having open conversations about finances so that people can become educated and protect themselves from financial uncertainty.
Listen in as she explains why having an emergency fund is crucial, as is having a backup fund that you can rely on in a relationship in case something happens later down the line. You will learn the importance of automating whatever you can, how to evaluate your safety net, and what to do if you’re experiencing financial abuse.
“I recommend to all of my friends in relationships to have a backup fund because you never know what life will throw your way.” - Alyssa Davies
This Week on Young Money:
- What a day in the life of Alyssa looks like.
- What pushed her to start her finance blog.
- What an emergency fund is and how to create one.
- Why planning for unexpected expenses is so important.
- Why you should protect yourself by having an additional backup fund.
- What a safety net is and how to evaluate this.
Key takeaways:
- Educate yourself on finances.
- Discuss finances openly.
- Build an emergency fund.
- Start small.
- Automate whatever you can.
Connect with* Alyssa Davies:***
Resources Mentioned:
* Financial First Aid Essential Management by Alyssa Davies
- EP044 Dangers of Payday Loans
- EP128 Adulting 101: How to Get Out of Debt - No Matter What Got You Into It
-
EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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When I started podcasting in 2017, I was nervous about the technology and apprehensive about how I would sound, not sure I’d have enough to say or that anyone would want to listen. Once I started creating these episodes and receiving your feedback, all of my worries washed away. I love knowing that this show is helping so many people begin their financial journey and work their way to a financially fit future. So, in this episode, I will be sharing the top lessons that have weaved their way into this show throughout the years.
Listen in as I explain what helped me reach 250 episodes, as well as my advice for anyone else in a similar situation. You will learn the importance of not getting swept up in your friends' spending habits, why you don’t need to follow the biggest celebrity experts' advice, and why it's important to start as soon as possible.
“We always learn more as we take small, imperfect actions, but it doesn’t mean that we always advance. Sometimes we make missteps and need to regroup.” - Tracey Bissett
This Week on Young Money:
- What really helped me reach 250 episodes.
- Why you should be taking small, imperfect steps towards your goals every day.
- The importance of focusing on yourself and what you want.
- Why it's critical to create and stick to a routine.
- The benefit of starting your savings as soon as possible.
Key takeaways:
- Work hard.
- Chase your dreams.
- Financial situations change.
- Create a plan.
- Stay true to your values.
- Do what works for you.
- Create a routine.
- Be curious.
- Ask questions.
Resources Mentioned:
* **EP500 of the Power Presence Position Podcast**
***Rate, Share & Inspire Other Young Millionaires-in-the-Making***
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Canadians choose Interac products an average of 18 million times a day to pay and exchange money. Through their world-class privacy, fraud mitigation, governance, and digital identity and authentication expertise, they help keep Canadian customers safe and secure when transacting. Anurag Kar, Associate Vice President of Money Movement Products at Interac Corp., joins the show today to discuss the recent news that Interac surpassed a billion e-transfer transactions in the last 12 months, as well as the overall key findings of the study.
Listen in as Anurag breaks down how e-transfers work and what the “request money” feature is all about. You will learn the percentage of Canadians who are users and have access to Interac products, why so many people are spending more money on experiences these days, and how to cut down on the awkward follow-up when splitting payments with friends.
“A lot of individuals—instead of the awkwardness of chasing down your friends saying 'hey, can you pay me back?'—they’re using the request money feature.” - Anurag Kar
This Week on Young Money:
- How Interac is used.
- The benefit of using e-transfers.
- Who was involved in the Interac survey.
- The timeframe in which the Interac survey was conducted.
- The importance of following up with friends when you split payments.
- What inflation has impacted in regards to splitting payments.
Key takeaways:
- Make sure your friends pay you back.
- Keep track of bills.
- Understand the services your bank provides.
Connect with* Anurag Kar*:
- Website
Resources Mentioned:
* Interac
-
Interac e-Transfer use surpasses one billion transactions in the last twelve months
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
The earlier you can master your money, the more you can make it work for you to accomplish the things you want to in life. And given that the school system doesn't do a good job of preparing young adults for the harsh economic realities they will be facing personally or as business owners, being able to support someone achieve their goals has always been my dream. So, in this episode, I am so excited to announce this round of Young Money Scholarship recipients.
I know firsthand the power that education can bring to help you achieve your life goals, and I know that it takes money from many different sources to pay for it. Being a believer that understanding financial matters is a fundamental life skill inspires me to find new and straightforward ways to make money make sense and increase financial confidence for the younger generation—and I hope this inspires you to do the same.
“I’m on a mission to redefine the economic future of the world for the next century by addressing financial literacy of young adults and entrepreneurs.” - Tracey Bissett
This Week on Young Money:
- This round of Young Money Scholarship recipients.
- The power of financial education.
- Why it is important to educate the younger generation about finances.
- How to bring more financial awareness to your communities.
Key takeaways:
- Help others achieve their goals.
- Bring financial awareness into your home.
- Apply for scholarships.
- Educate yourself.
Resources Mentioned:
* Student Podcasts
- EP169 Celebrating the Young Money Scholarship Recipients
- EP171 Spotlight on Young Money Scholarship Recipients Leeah & Erica
-
EP176 Spotlight on Young Money Scholarship Recipients Sharaf & Courtney
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Buy Now, Pay Later (BNPL) arrangements are becoming an increasingly popular payment option, especially when shopping online. BNPL is a type of short-term financing that allows consumers to make purchases and pay for them at a later date, often interest-free. Although this method was traditionally used for larger, more expensive items such as vehicles and houses, this has become far more popular among a broader range of products such as clothes, groceries, and entertainment. In this episode, I am going to be discussing both the pros and the cons of this popular repayment method and what to be aware of if you choose to “pay later.”
Listen in as I explain how Buy Now, Pay Later works and whether it is similar to making a purchase on your credit card. You will learn the importance of knowing what the repayment plans are, why you should still only buy what you truly need, and who this could positively impact to help get urgent items or budget more effectively.
“It’s necessary to understand how your payments work so you can plan for them in your budget.” - Tracey Bissett
This Week on Young Money:
- What BNPL is and why it is becoming so popular.
- What to be aware of when it comes to BNPL.
- Whether there is interest on repayments.
- How BNPL actually works.
- The importance of understanding the fine print of repayments.
Key takeaways:
- Understand the fine print.
- Know the facts.
- Only buy what you need.
Resources Mentioned:
* EP227 Money Like You Mean It with Erica Alini
- EP229 Rich Girl, Broke Girl with Kelley Keehn
- EP231 Back to Basics
-
EP234 MoneySense with Lisa Hannam
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Eva Sachs is a Certified Financial Planner, Chartered Financial Divorce Specialist, and Certified Divorce Financial Analyst who is a recognized expert in financial planning in divorce. She is also an author and a team member at Love and Money, a resource for modern marriage contracts that helps protect the romance by taking care of the finance.
In this episode, Eva shares the things that everyone should be considering as they’re entering in a relationship, including the critical conversations they need to have with their partner and tips to protect themselves financially. She also discusses the key things to consider financially when you and your spouse are separating, what the difference is between a separation and a divorce, and when you should consider putting a marriage contract into place.
“Money doesn’t come with instructions.” - Eva Sachs
This Week on Young Money:
- What a day in the life of Eva looks like.
- Tips to set a solid financial foundation for couples.
- When to consider a marriage contract.
- What to consider financially when you’re divorcing.
- The difference between a separation and a divorce.
- What led Eva to pursue this line of work.
Key takeaways:
- Be transparent with your finances.
- Get clear on your priorities.
- Be open to learning.
- It’s never too late.
- Take small actions.
Connect with Eva Sachs:
- Website
Resources Mentioned:
* Love and Money Modern Marriage Contracts
- When Harry Left Sally – Finding your way through Grey Divorce by Marion Korn and Eva Sachs
- EP037 Cohabitate in a Financially Fit Way
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP126 Love and Money: 3 Keys to Success
- EP142 Adulting 101: Your Family & the Law - Lawyers & Mediators Explained with Darlene M. Rites
- EP180 Love and Money: Financial Harmony with Adam Kol
-
EP229 Rich Girl, Broke Girl with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Financial fitness (aka financial literacy) is a fundamental life skill. It's not about knowing everything - it's about taking those small imperfect actions that increase your foundation of financial knowledge so you can navigate your life, personally and professionally, with confidence. To me that means being comfortable asking questions, following up if you don’t understand something, being kind to yourself when you make a mistake, and approaching things from a mindset of abundance.
In this episode, I want to celebrate you. Together we have created 245 episodes, are listened to in over 40 countries, and are approaching 250,000 downloads. Whether today is the first day you are tuning in to check out the show, you’ve been a loyal listener since the beginning or somewhere in between, I am happy you are here. Thank you for your steadfast support, continuous questions, and feedback on the show.
“I believe that financial fitness aka financial literacy is a fundamental life skill.” - Tracey Bissett
This Week on Young Money:
- What financial literacy truly means.
- The importance of asking questions when you’re unsure.
- The benefit of approaching things with a mindset of abundance.
- Why you should be kind to yourself even if you make a mistake.
- The importance of having gratitude.
- Why taking small imperfect steps every day is essential to financial success.
Key takeaways:
- Ask questions.
- Be kind to yourself.
- Follow up.
- Check your mindset.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
***Rate, Share & Inspire Other Young Millionaires-in-the-Making***
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Everyone experiences their own set of issues, and while they’re not all related to finances, eliminating financial issues can provide more clarity in other areas of your life. No one knows this better than our guest today, Elke Rubach. Elke is a sought-after speaker on wealth management, estate planning, and philanthropy, as well as the founder of Rubach Wealth. In this episode, she will be sharing her practice’s unique holistic approach to helping her clients with their needs.
Listen in as she explains the importance of having financial independence as soon as you can and the benefit of educating yourself about your own finances. You will learn why being curious when it comes to finances is key, why women should not be fearful to learn about their finances, and why you should never be afraid to ask for clarification from your financial advisor.
“I truly believe that everybody has the opportunity and a chance to improve their financial situation with the right advice, the right team, and discipline.” - Elke Rubach
This Week on Young Money:
- What a day in the life of Elke entails.
- How everyone can leave a legacy.
- The importance of understanding your own finances.
- Why Elke believes everyone should be financially independent.
- Why doing your research on who you hire for financial advice is crucial.
- What you should do to get started in your financial journey.
- How to normalize the topic of finances.
- Why you should never be afraid to ask questions.
Key takeaways:
- Educate yourself.
- Practice discipline.
- Create a budget.
- Embrace change.
- Be curious.
- Ask questions.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- Elke Rubach: LinkedIn
- Rubach Wealth: Facebook | LinkedIn | Twitter | Instagram | Website
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP131 Adulting 101: Why You Need a Will and Powers of Attorney with Erin Bury
-
EP144 Adulting 101: Insurance for Young Professionals with David Boldovitch
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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We often tell ourselves stories to excuse the wrong-doings that we allow to happen in our finances. These limiting beliefs that we have, or excuses we create, can end up hurting our financial situation long-term if we don’t shift our mindset. So, how can we avoid falling into these traps? In this episode, I will be sharing the most common money myths that I see and explaining what you can do if you believe any of them to be true.
Listen in as I explain why you don't have to be good at math in order to take care of your finances and why even the smallest of steps taken towards educating yourself about your finances can make a difference. You will learn why it is important to start investing from a young age, why you don’t necessarily have to pay off your debt before investing, and how you can become involved in investing with little money.
“Nobody cares more about your life than you, so it’s time to step up.” - Tracey Bissett
This Week on Young Money:
- The importance of investing.
- Why you should start saving for retirement even if you are still young.
- Common money myths you need to stop telling yourself.
- Why you should always have an emergency fund in place.
- What “good debt” is.
- The benefit of evaluating your debt situation often.
Key takeaways:
- Save for retirement.
- Invest your money.
- Take small steps towards financial fitness.
- Educate yourself.
- Evaluate your money mindset.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP044 Dangers of Payday Loans
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP084 3 Myths Sabotaging your Financial Fitness
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
-
EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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This time of year, spring cleaning is in full force, and it's a great time to be thinking about home maintenance. Now, I'm not talking about property taxes, utilities, and all of the regular bills that come with owning a home. I am speaking specifically about the costs to keep our homes in good working order. In this episode, I'll be sharing several things I did to maintain my home recently to hopefully inspire you to make a list of your own maintenance items.
Listen in as I explain the costs involved in my home maintenance, as well as why it is essential that you have your dryer vents and furnace filters cleaned frequently. You will learn how to ensure your home maintains its value, how to avoid a larger issue in your home later down the road, and why you should always put money into an emergency fund.
“For many people, our homes are our biggest asset. It is critical that we maintain it so it holds its value.” - Tracey Bissett
This Week on Young Money:
- Why it's critical that you maintain your home.
- How much money you should put aside for home maintenance.
- The importance of having your dryer vents cleaned frequently.
- How to ensure your home maintains its value.
Key takeaways:
- Take care of your home.
- Consider home maintenance costs.
- Put money aside for home maintenance.
- Build an emergency fund.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP138 Real Estate 101: Role of the Realtor with Alexandra Cote
- EP140 Real Estate 101: Role of the Home Inspector with Lisa Simkins
-
EP167 Real Estate 101: Role of the Mortgage Broker with Kola Ifabumuyi
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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We all have different motivators for wanting money. For some, it's the freedom to have the things they truly want; for others, it's not having to worry about paying bills or the ability to donate to charities. Our views around money form at a young age, and it is this money mindset that then carries out the way we perceive and desire money throughout the remainder of our lives. So, in this episode, I am going to discuss two main mindsets surrounding money—scarcity and abundance—explaining how to change your mindset so that you are ready to reach the level of prosperity you want in life.
Listen in as I break down what a money mindset is and how this can impact your ability to achieve your goals. You will learn how to stop operating from a place of fear surrounding money, the benefit of surrounding yourself with people who have an abundance mindset, and how practicing gratitude can increase your positive money mindset.
“Understand the past, be in the present, and plan for the future.” - Tracey Bissett
This Week on Young Money:
- How a money mindset can impact your ability to achieve goals.
- The benefit of assessing your money motivator.
- Several questions to ask yourself to identify your money mindset.
- The value in having an abundance mindset and what this means.
- Three strategies to help increase a feeling of abundance.
- Why it is important to dream big.
Key takeaways:
- Practice gratitude.
- Surround yourself with like-minded people.
- Create space.
- Understand where you come from.
- Know your worth.
- Be the change you want to see.
- Don’t let your past dictate your future.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP062 What is your Money Mindset?
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
-
EP229 Rich Girl, Broke Girl with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Many animal lovers will readily agree that dogs offer more than just companionship; having a dog enriches your life in so many ways. However, this enrichment does come with a cost. If you’re a long-time listener, you know that I have two golden retrievers, and in this episode, I thought I would break down the various costs that come with owning a pet so you can make your decision about adopting one based on financial facts versus the desire for a companion.
Listen in as I explain the vet bills I have had to pay over the last few years, as Rosie has faced numerous illnesses. You will learn the initial purchase cost of a dog, what the average monthly supplies might cost, and what you can expect in terms of at-home repairs when owning a puppy.
“Our pets are family members.” - Tracey Bissett
This Week on Young Money:
- How much the purchase cost is for a dog.
- What supplies you need to buy on average for a new dog.
- The average vet bill for a healthy puppy.
- What you can expect for vet bills if your dog has health issues.
Key takeaways:
- Research costs before buying a pet.
- Prepare for health ailments.
- Buy pet insurance.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
-
EP015 I Love My Dog Rosie but She is Expensive! Find Out the Financial Realities of Having a Beloved Pet with Ellen Wright
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Sandy Yong is a self-directed investor who successfully generated a 6-figure investment portfolio and owns several rental properties. As a keynote speaker, she teaches female millennials how to invest in the stock market and real estate. In this episode, Sandy joins the show to discuss the importance of taking control of your finances, as well as tips on how you can get started today.
Listen in as she shares advice from her award-winning book, The Money Master, and explains the importance of diversifying your income. You will learn how to differentiate between your wants and your needs, how to save for vacations reliably, and how to receive more dividends.
Giveaway The first 3 people who share this episode on social media will win an autographed copy of *The Money Master.***
”I want to make women feel empowered with their personal finances and take control of their financial future.” - Sandy Yong
This Week on Young Money:
- The importance of taking control of your finances.
- Why women must be more involved in their personal finances.
- Why educating yourself is key so you can take control of your financial future.
- What a millionaire mindset is and how to adopt this mindset.
- Why you shouldn’t just rely on one form of income.
- How to balance your wants and needs.
Key takeaways:
- Build an emergency fund.
- Diversify your income.
- Set goals.
- Invest in yourself.
- Educate yourself.
Connect with Sandy Yong:
- The Money Master
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP229 Rich Girl, Broke Girl with Kelley Keehn
-
EP234 MoneySense with Lisa Hannam
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Zandile Chiwanza is a self-proclaimed “budget warrior” and personal finance journalist. Although Zandile is committed to empowering newcomers to Canada with the tools they need to make sound financial decisions, her overarching message is for everyone: No matter your circumstances, financial wealth and wellness are attainable for everyone. In this episode, she joins the show to discuss the connection between money and mental health.
Listen in as Zandile explains why she does not believe in “good” or “bad” debt, as well as the importance of talking to a professional when you’re feeling overwhelmed. You will learn the benefit of surrounding yourself with people in the right mindset, common challenges faced by newcomers, and the importance of reaching out for help when you need it.
”There is a strong connection between money and mental health that we need to talk about more.” - Zandile Chiwanza
This Week on Young Money:
- How Zandile discovered personal finance.
- The connection between money and mental health.
- The anxiety that can arise when feeling fearful around finances.
- The value of having a supportive group of people.
- Common challenges newcomers may face when moving to Canada.
- Why you do not have to face your financial woes alone.
- The importance of putting financial boundaries in place.
Key takeaways:
- Don’t let anxiety run your life.
- Ask for help when needed.
- Surround yourself with supportive people.
- Communicate your concerns.
- Build an emergency fund.
Connect with Zandile Chiwanza:
- Website
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP044 Dangers of Payday Loans
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
-
EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As we continue to celebrate Fraud Prevention Month in Canada, it’s important to remember that we should be aware of scammers all year long. I recently spoke with one of my friends, Bonnie, who shared some of her recent interactions with fraudsters and how she switched things around to have the joke on them. So, in this episode, I wanted to share some of these stories with you. Although all fraud should be taken seriously, these are some fun ways that the tables can be turned.
To give you some background on Bonnie, she has had a long career in financial services in the areas of audit, risk management, compliance, anti-money laundering, and so much more. As a result, she has tremendous experience in detecting things that are not quite right. I had a laugh as she shared these stories with me, and I hope you do too!
”Be vigilant and call your relative back on the number you have if you are concerned.” - Tracey Bissett
This Week on Young Money:
- Several funny stories of how the tables have been turned on fraudsters.
- The importance of being aware of scammers.
- Why we must be wary of unknown numbers.
- The benefit of educating your loved ones on these scams.
- Why you should never give access to your computer to strangers on the phone.
- How to avoid getting caught in the “grandparent scam.”
Key takeaways:
- Don’t give out your information.
- Be aware of fraudsters.
- Be vigilant.
- Protect yourself.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP130 Show Me The Fraud - Fraud Prevention Month
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP235 How to Protect Yourself from the Romance Scam
- EP236 Good Investment or Investment Scam?
-
Canadian Anti-Fraud Centre
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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In Canada, the top scam is an investment scam that cost Canadians over $163 million in 2021. Any solicitation for investments into false or deceptive investment opportunities falsely promises higher-than-normal returns, but—unsurprisingly—investors lose most or all of their money. Ongoing investment scams include cryptocurrency, fixed income, the "pump and dump," Ponzi, Initial Coin Offerings, franchise/business opportunities, Gem, and Pyramid. In this episode, I will be sharing information on each of these and giving tips on how to avoid these scams moving forward.
Unfortunately, once you've sent money to a scammer, it's probably no longer accessible. However, it is still recommended to tell your bank or credit card company about the scam so you can protect your accounts from further harm. Listen in as I explain who to report these frauds to, as well as how this can help others moving forward.
”Reporting an investment scam won't undo the damage done, but it may save others from falling victim to the same fraudster.” - Tracey Bissett
This Week on Young Money:
- How to spot an investment scam.
- The importance of consulting with a professional before sending money.
- What to do if you’re caught in an investment scam.
- Why it's crucial to report cybercrimes.
- Investment scams to be aware of.
Key takeaways:
- Don't be afraid to say no.
- Take the time you need to research the investment.
- Get a second opinion from someone you trust.
- Do your research.
- Don't give out personal information.
- Beware of upfront fees.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP130 Show Me The Fraud - Fraud Prevention Month
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP235 How to Protect Yourself from the Romance Scam
-
Canadian Anti-Fraud Centre
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
March is fraud prevention month in Canada, but we should be careful all year round. Scammers are sophisticated and innovative in their craft, making it very hard to know what is real and what is not. So, in this episode, I will be sharing steps you can take to avoid being swindled out of your money through a romance scam.
Listen in as I explain the importance of checking the legitimacy of investments and why you should never trust unsolicited opportunities. You will learn key red flags to be aware of when it comes to romance scams, why talking about your situation to others is crucial, and why you should report cyber-crime when you spot it.
”If someone you have never met is pressuring you to send money, don't be afraid to say NO!” - Tracey Bissett
This Week on Young Money:
- How to spot a scammer.
- Why we should be careful of unsolicited opportunities.
- The importance of checking the legitimacy of an investment.
- Why you shouldn’t trust phone numbers that have been given to you online.
- Several red flags to watch out for.
- Reasons you should report a scam.
- Who to report a scam to.
- What to do if you have already given money.
Key takeaways:
- Do your due diligence.
- Be careful with online apps.
- Keep records of online conversations.
- Research photos.
- Report crime if you see it.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP130 Show Me The Fraud - Fraud Prevention Month
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
-
EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Managing money as a young person with a continuous list of responsibilities can be a challenge. Between living expenses, student loan debt, saving for the future, and wanting to have fun, young people often feel these pressures to keep up financially. This is where Lisa Hannam steps in. Lisa is the Executive Editor of MoneySense and has been a leading force in the success of the financial magazine with her effective financial advice. Today Lisa joins the show to share her motivational tips for anyone wanting to stay on their savings journey.
Listen in as she explains an easy way to start a savings account, as well as the power of using automatic deposits for your investments. You will learn how fluid money can be, an easy way to calculate if you want to spend money on something, and Lisa’s advice for anyone currently getting their financial information from social media.
“[People say] that it’s so easy to spend money, but it’s actually just as easy to save it.” - Lisa Hannam
This Week on Young Money:
- What a day in the life of Lisa looks like.
- The importance of contributing to your RRSPs.
- How to easily save money from every paycheck.
- The power of using automatic deposits.
- The value of surrounding yourself with people who have similar goals.
- Why you should spend time learning about finances.
- How to align your goals with your savings.
Key takeaways:
- Pay off your credit cards.
- Understand how fluid money is.
- Create boundaries around money.
- Ask questions.
- Do your due diligence.
Connect with* Lisa Hannam*:
- Website
- MoneySense
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP019 TFSAs vs. RRSPs
- EP070 RRSP Withdrawal Programs - What Are They & How Do They Work?
- EP128 Adulting 101: How to Get Out of Debt - No Matter What Got You Into It
- EP222 Why Financial Literacy Matters at Work
- EP224 Get the Hell Out of Debt with Erin Skye Kelly
-
EP231 Back to Basics
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We live in a world shaped by gender. For too long, we have underestimated the consequences of sexism in our economy, and the way it holds all of us—both women and men—back. In Mother of Invention, bestselling author Katrine Marçal sets the record straight and shows how, in a time of crisis, the ideas and ingenuity of women are crucial for our future. Today Katrine joins the show to discuss the economic impact of women, specifically how the inclusion of women is the missing key to innovation for modern business.
Listen in as we dive deep on the topic of gender bias, explaining how gender bias can actually delay the innovations that we now take for granted. You will learn how to maintain an innovative spirit and inspire others to do the same, as well as how you can amplify diverse voices to ensure everyone is able to share their knowledge, ideas, and opinions.
“Innovation and tech is really what drives the economy, and there is this narrative that historically everything important ever was invented by a man… and it’s time to rewrite women back in the story of innovation.” - Katrine Marçal
This Week on Young Money:
- Why the inclusion of women in innovation is key.
- What gender bias is and how it is prevalent in today’s world.
- How to overcome gender bias.
- The importance of diversifying your team, if you have one.
- How to ensure you’re getting diverse opinions.
- How to get involved in discussions around our economy.
- Why you shouldn't be scared of the language of economics.
Key takeaways:
- Maintain an innovative spirit.
- Create diverse environments.
- Amplify women’s voices.
- Revisit your budget.
- Get curious.
Connect with Katrine Marçal:
- Website
- Mother of Invention - How Good Ideas Get Ignored In An Economy Built For Men by Katrine Marçal
- Who Cooked Adam Smith’s Dinner? by Katrine Marçal
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
***Rate, Share & Inspire Other Young Millionaires-in-the-Making***
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
For all of the loyal Young Money listeners, it is the first full week of February, and you know what that means… the Super Bowl is fast approaching! This year is special, as there will be five hip-hop artists performing on one stage—for the first time ever. So, in this episode, I'll be going over the financial lessons we can learn from these multi-million-dollar performers who have experienced great success in their financial fitness.
Listen in as I share some surprising financial trivia surrounding the Super Bowl, as well as how much each of these artists is worth. You will learn why the past does not predict the future and the importance of having diversification in your income. Remember: success does not require perfection—you can take small imperfect actions every day toward your goals. So start today!
“There has never been a better time to learn about personal finance.” - Tracey Bissett
This Week on Young Money:
- How much teams earn playing in the Super Bowl.
- How much each of these five artists is worth.
- Why you cannot let your past dictate your future.
- The importance of diversification in your financial portfolio.
- How to start on your financial journey.
- The benefit of having someone to support you or learn from.
Key takeaways:
- The past does not predict the future.
- Build multiple streams of income.
- Success does not require perfection.
- Mentors matter.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
-
EP179 Milli Moves: Bitcoin – Investing or Gambling?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Now that New Year's resolutions are out of mind, let’s get back to paying attention, taking accountability, and being disciplined with our actions when it comes to our finances. This doesn’t need to be over-complicated—it can be easy to implement financial fitness into your life. So, in this episode, I will be sharing three basic tips to get your finances on the right track for 2022.
Listen in as I explain the importance of reviewing your expenses and looking for opportunities to save money on your bills. (You may be surprised by what you find!) You'll learn the advantages of maximizing your retirement and employment benefits, as well as how to establish a financial fitness routine.
“With so much uncertainty still on the horizon, we need to get back to basics and bring greater discipline and accountability to our finances.” - Tracey Bissett
This Week on Young Money:
- Why you should always be on the lookout for opportunities to save on bills.
- The importance of understanding and reviewing all of your expenses.
- How to ensure you are maximizing your employment benefits.
- Why understanding your retirement savings options is so important.
- The benefit of having a retirement savings plan in place.
- How to establish a financial fitness routine.
- Why creating a routine for your finances is beneficial to your savings.
Key takeaways:
- Create a financial routine.
- Maximize employment benefits.
- Save for retirement.
- Review your bills.
- Look for savings opportunities.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP019 TFSAs vs. RRSPs
- EP070 RRSP Withdrawal Programs - What Are They & How Do They Work?
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP219 Future of Pandemic Money Habits with D'Arcy McDonald, SVP Scotiabank
- EP222 Why Financial Literacy Matters at Work
-
EP229 Rich Girl, Broke Girl with Kelley Keehn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
After years of working in the health industry, Dr. Stacy Irvine was puzzled as to why no one had been able to find a solution to successfully motivate everyone to lead healthier lives. In Canada and the USA, rates of many chronic diseases are increasing, obesity is more prevalent than ever, and our mental health is suffering. So, what needs to happen? In this episode Dr. Irvine joins the show to share her advice for adopting a healthier lifestyle—and the answer may surprise you!
Listen in as Dr. Irvine explains her inspiration for her latest book, Your Better Instincts, as well as key takeaways for harnessing your instincts. You will learn why Dr. Irivine believes instincts are pathways to a better life, what happens when we spend a lot of our days sitting down, and the importance of allowing yourself time to recover.
“Human beings were never meant to sit all day at a computer or walk around with a phone.” - Dr. Stacy Irvine
This Week on Young Money:
- How to live a healthier life.
- How healthy living impacts your finances.
- What it means to rely on your instincts.
- Why personal stories are generally better received.
- The importance of moving your body every day.
- Why not all instincts should be acted on.
- What drives happiness.
Key takeaways:
- Exercise daily.
- Understand your instincts.
- Rest and recover.
- Sleep is crucial.
- Make time for human connection.
Connect with* Dr. Stacy Irvine*:
- Website
- Book Website
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
-
Your Better Instincts by Stacy Irvine
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kelley Keehn has been a trusted voice for sound personal finance advice for decades. Kelley started her career helping some of Canada’s wealthiest, and then took her expertise to a broader audience to help people of all incomes as a personal finance educator. Today she joins the show to share insights from her new book, Rich Girl, Broke Girl, including how she is helping women claim their wealth.
Listen in as Kelley explains why so many women struggle to lean into their finances and why it is so important to remember how far we have come as women in regards to finances. You will learn the difference in behavior between wealthy and broke females, how to change your mindset around money, and how to be successful with investing.”Not everyone who looks like they have money has money.” - Kelley Keehn
This Week on Young Money:
- How Kelley became involved in financial advice.
- The inspiration that led Kelley to focus on women claiming their wealth.
- Why some women aren’t leaning into their finances as much as they should.
- The importance of taking control of your own finances.
- How to change your mindset around your own finances.
- How to ensure you are utilizing every employee benefit plan available.
- What you must understand about inflation.
Key takeaways:
- Seek out expert advice.
- Educate yourself.
- Be open-minded around wealthy people.
- Assess your beliefs around money.
- Invest your money.
- Understand your employer benefits.
- Analyze your risk tolerance.
Connect with* Kelley Keehn*:
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
-
EP216 How to Deal with Debt Overload with Linda Stern
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Andrew Hallam is a personal finance journalist, speaker, and the internationally bestselling author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School and Millionaire Expat: How To Build Wealth Living Overseas. Before Andrew’s 20th birthday, he started to invest. By the time he reached his late 30s, he had enough money to retire. In this episode, he will be sharing his personal journey to financial freedom and his advice for anyone searching for a way to make money on the road.
Listen in as Andrew shares insights from his newest book, Balance: How To Invest and Spend for Happiness, Health and Wealth, to help you work toward achieving life satisfaction. You will learn why you should spend your money on experiences, why making strong connections and relationships is essential to longevity, and how to identify your true superpower.
“You have to live the best life that you can now and the best life that you can later. So spending money on building memories is key.” - Andrew Hallam
This Week on Young Money:
- What a day in the life of a nomad looks like.
- The importance of understanding how much money you truly need to retire.
- Why you shouldn’t chase money over happiness.
- Why you should always maintain focus on your life satisfaction.
- How to evaluate your spending.
- Why you should nurture your relationships.
- What it means to live every day to the fullest.
Key takeaways:
- Take advantage of every day.
- Build social relationships.
- Love is your superpower.
- Track your spending.
- Differentiate between your wants and your needs.
- Invest your money.
- Build a supportive community.
Connect with* Andrew Hallam:***
- Website
- YouTube
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP076 Happy Go Money with Melissa Leong
-
EP224 Get the Hell Out of Debt with Erin Skye Kelly
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Erica Alini is the personal finance reporter, where she writes about all things personal finance, business, and economics. In this episode, Erica will be joining the show to discuss her new book, Money Like You Mean It: Personal Finance Tactics For The Real World, as well as her advice for building a financially stable life.
Listen in as she gives you a deeper look at the economic forces that are shaping your financial struggles and some tips on how to overcome them. You will learn the four steps people go through in order to turbocharge their finances, how to make better financial decisions and stick to them, and the power of budgeting.
“Know what you are saving for.” - Erica Alini
This Week on Young Money:
- How to build a financially stable life.
- How to train your brain to make good financial decisions.
- Why you should give yourself monthly targets.
- The importance of celebrating your wins.
- Why automation is a wonderful tool for meeting your financial goals.
- The problem with installment payments.
Key takeaways:
- Budget.
- Create a vision.
- Automate your payments.
- Take calculated risks.
- Invest early.
Connect with* Erica Alini*:
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
-
EP218 Financial Fitness All Year Round
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
With so much going on right now (pandemic, job loss, holidays, etc.), how are we supposed to become financially fit? This is a question many are asking themselves as we approach the end of 2021, a year that rivals 2020 in terms of its difficulties. So, in this episode, I will be explaining the key to financial success and how to become financially resilient in the face of adversity.
Listen in as I share how to become an active participant in your financial knowledge, as well as why it is so important to be intentional with your spending. You will learn the benefit of being consistent, how to financially prepare for your future, and what you should be tracking in terms of your finances.
“Scotiabank’s newly released Worry Poll reveals that Canadians between the ages of 18-34 worry an average of 12 hours per week, 2 hours higher than the Canadian average.” - Tracey Bissett
This Week on Young Money:
- The amount of Canadians currently feeling anxious about their finances.
- How the pandemic has left people feeling about spending their money.
- The benefit of reflecting on your past.
- Where to find education in regards to finances.
- Why having an emergency fund is essential.
- How to set appropriate financial goals so that you can budget appropriately.
Key takeaways:
- Be persistent.
- Take responsibility.
- Hold yourself accountable.
- Be resilient.
- Consistency is key.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP131 Adulting 101: Why You Need a Will and Powers of Attorney with Erin Bury
- EP219 Future of Pandemic Money Habits with D'Arcy McDonald, SVP Scotiabank
-
EP222 Why Financial Literacy Matters at Work
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today, we are celebrating four years of Young Money! Together we have created 225 episodes, we are listened to in over 40 countries, and we have surpassed 200,000 downloads. It is my privilege to create fun, educational content and to host amazing guests to inspire you along your financial fitness journey. In this episode, I will be sharing the top five things I have learned throughout my time podcasting, as well as how these findings relate to finances.
Listen in to learn the importance of focusing on what matters most to you, why you should always get your information from a credible source, and how to know when is the right time to start your financial fitness journey. Whether today is the first day you are tuning in to check out the show or you have been a loyal listener since the beginning, I am so happy you are here.
“I believe that financial fitness (aka financial literacy) is a fundamental life skill.” - Tracey Bissett
This Week on Young Money:
- Why I believe financial education is a fundamental life skill.
- The importance of taking small, consistent actions toward your financial goals.
- Why you should ask questions around finances if there is something you don’t understand.
- How to get proper professional advice if you are new to the financial world.
- Why it's crucial to get your financial advice from a credible source.
Key takeaways:
- Ask questions.
- Be consistent.
- Seek professional advice.
- Take care of yourself.
- Think critically.
Young Money Listener Contest
We are celebrating four years of Young Money! So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a book of your choice from one of our fabulous guests to help you on your financial fitness journey. There will be winners weekly so review away!
Contest closes January 31st!
Not sure how to leave a review, check out the instructions here.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP069 How to be Financially Resilient with Jackie Porter
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP164 Financial Planning for Business Owners with Jason Pereira of Woodgate Financial
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP203 Financial Impacts of Anti-Black Racism in Canada with Jackie Porter
-
EP216 How to Deal with Debt Overload with Linda Stern
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
There are many frightening things out there, such as spiders, snakes, etc. However, there is one thing that scares many people more than anything else: having debt. Despite this, many consumers cannot find their way out of debt due to the amount of confusing and overwhelming information available. This is where today's guest, Erin Skye Kelly, steps in. Erin is an award-winning and bestselling author who has helped thousands of people pay off millions of dollars in consumer debt. In this episode, she will be sharing her best advice so that you can finally "get the hell out of debt" too.
Listen in as Erin explains her proven 3-phase method that will help shift your relationship with money, as well as potential missteps she would warn any listener to avoid. You will learn the main issues that lead to debt, how to declutter your finances, and simple steps that will move you toward a less debt-filled life.
“Every time you screw up, it is a learning opportunity.” - Erin Skye Kelly
This Week on Young Money:
- What Erin’s day-to-day life looks like.
- How different areas of the world are handling the pandemic.
- How to avoid getting into debt.
- The main issues Erin sees that lead to debt.
- What her 3-phase method entails.
- The benefit of using a compound interest calculator.
- The importance of taking small actions every day toward your financial goals.
Key takeaways:
- Spend less than you make.
- Declutter your finances.
- Surround yourself with like-minded people.
- Be resourceful.
- Don’t be afraid to fail.
Connect with* Erin Skye Kelly*:
- Website
- Get the Hell Out of Debt Book
- Get the Hell Out of Debt Podcast
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
***Rate, Share & Inspire Other Young Millionaires-in-the-Making***
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
You may have heard Sex and the City is rebooting the franchise with their new show called And Just Like That. If you were a fan back in the day or are watching the show now to get ready for the reboot, you are in for a treat today. In this episode, I will be shining a spotlight on the show and, in particular, who is more financially fit—Sarah Jessica Parker, the actress, or Carrie Bradshaw, the character she played.
Listen in as I discuss the importance of living within your means and understanding the income that is coming in versus the money you are spending. You will learn the benefit of building up an emergency fund, why you should set goals (and save for them), and why you should never mix money with friends.
“Set goals for your life, and actively work and save to achieve them.” - Tracey Bissett
This Week on Young Money:
- The importance of only spending money that you have.
- Why you should have a specific amount of money set aside in case of emergency.
- How to properly set money goals and achieve them.
- Why you should choose carefully how you spend your money (and who with).
- Why understanding how much you are worth is key.
- The benefit of building assets that lead to multiple streams of income.
Key takeaways:
- Live within your means.
- Build an emergency fund.
- Set goals and save for them.
- Don't mix money with friends/family.
- Get paid what you are worth.
- Build assets which lead to multiple streams of income.
Resources Mentioned:
* Tracey Bissett - The Money Coach for Entrepreneurs YouTube Channel
***Rate, Share & Inspire Other Young Millionaires-in-the-Making***
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Financial literacy means having the knowledge, skills, and confidence to make responsible financial decisions. This requires small, imperfect actions each day and showing kindness to ourselves when we make a misstep. So, in today’s training, I will be sharing the three reasons why financial literacy matters at work and how to ensure you are maximizing your efforts.
Listen in as I explain how you can increase productivity and relieve financial stress by becoming more financially fit. You will learn how to ensure you are taking advantage of all your employee benefits at your job, the importance of creating and following a budget, and where to begin when searching for a way to improve your financial literacy.
“When you are financially literate and moreover financially fit, you are able to deal with things in your life in a planned fashion, which allows you to have greater control, freedom, and flexibility.” - Tracey Bissett
This Week on Young Money:
- Why financial literacy matters at work.
- How to ensure you are maximizing your financial literacy at work.
- How to increase productivity.
- The best way to increase your overall compensation at work.
- How to improve business acumen.
- The importance of creating a budget.
- The benefit of asking for professional financial help.
Key takeaways:
- Ask for help.
- Create a budget.
- Be open to learning.
- Take accountability.
Resources Mentioned:
* EP211 Milli Moves: How to Maximize your Employee Benefits
- EP218 Financial Fitness All Year Round
- EP219 Future of Pandemic Money Habits with D'Arcy McDonald, SVP Scotiabank
- EP220 Easy Peasy Finance with 12-year-old creator, Rishi Vamdatt
-
EP221 3 Financial Lessons Learned from Adele
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Many of you, like me, watched the Adele special with Oprah Winfrey. If you didn’t watch it, you probably heard about it, as reports put viewership at over 10 million viewers. I am a huge fan of Adele and would put her concert in my top 5 shows of all time. However, I am not only a fan of her music. I also recognize that we can learn a few key financial lessons from this amazing singer, as well. So, in this episode, I will be diving into three major financial lessons we can take away from Adele, as her net worth is now reportedly over $190 million.
Listen in as I explain the importance of celebrating your progress or advancements while also holding yourself accountable for your own actions. You will learn the benefit of focusing on your strengths and not allowing your past to dictate your future. You have the ability the change your future—make a commitment to yourself and create the future that you want!
“No matter your goal, if it is important to you, it is important.” - Tracey Bissett
This Week on Young Money:
- The importance of taking responsibility for your life, mental health, and financial situation.
- Why financial fitness is in fact a lifelong journey.
- The benefit of asking for help when you need it.
- Why you should take accountability for your happiness.
- How to ensure you aren’t spreading yourself too thin.
- Why focusing on your strengths is key.
- How to avoid living outside of your means.
Key takeaways:
- Take accountability.
- Be focused.
- The past does not predict the future.
- Be appreciative.
Resources Mentioned:
* 40 Finance Podcasts Every Canadian Should Listen To
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
-
EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Rishi Vamdatt is the 12-year-old creator of Easy Peasy Finance, an award-winning resource that spreads financial literacy by breaking down complex financial concepts. Having been featured on CBS New York and many radio shows and podcasts, Rishi has touched the lives of over half a million kids, parents, and teachers, and he joins me today to discuss the importance of learning about personal finance for everyone—but especially for kids.
Listen in as he shares why he first started Easy Peasy Finance, how he has tailored his content to appeal to kids, and how he keeps up with creating content while also being a kid himself. We also talk about the many ways that learning about personal finance can benefit kids and parents alike, as well as what Rishi believes everyone should avoid when it comes to personal finance.
“Finance is a key life skill.” - Rishi Vamdatt
This Week on Young Money:
- How Rishi first became interested in personal finance.
- What he believes people should learn about personal finance.
- How Easy Peasy Finance first started and how they help people.
- The age groups that most benefit from the content.
- Rishi’s best tips to get started optimizing your personal finances.
- What people should avoid when it comes to personal finance.
Key takeaways:
- Have an emergency fund.
- Invest wisely.
- Live within your means.
Connect with Rishi Vamdatt:
- Website
- YouTube
Resources Mentioned:
* *Easy Peasy Money: A Fun Money & Budgeting Book for Kids* by Rishi Vamdatt
- Easy Peasy Investing: A Fun Investing Book for Kids by Rishi Vamdatt
-
I Will Teach You to Be Rich: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works by Ramit Sethi
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
D'Arcy McDonald is the Senior Vice President, Retail Deposits, Investments & Payments of Scotiabank, where his goal is to help customers become better off through convenient everyday banking, payment, and investment advice experiences. As we continue our celebration of Financial Literacy month, D’Arcy joins the show to discuss the recently released survey from Scotiabank detailing how Canadians are thinking about spending as they progress forward out of the pandemic.
Listen in as he shares how the pandemic has changed people’s saving habits and what the younger generation seems to be most concerned about financially moving forward. You will learn how to deal with financial anxiety, how to prepare for unexpected expenses, and why you shouldn’t have to go through financial stress alone.
“About 2 in 3 Canadians say they will not return to pre-pandemic spending habits.” -D’Arcy McDonald
This Week on Young Money:
- What D’Arcy’s day-to-day life looks like.
- How to manage expenses to keep up with bills and credit commitments.
- How to feel in control of your overall debt situation.
- Where to begin when navigating the financial marketplace.
- Why you do not have to make a financial plan alone.
- How to prepare for unexpected expenses.
- The importance of continuing to learn about finances.
Key takeaways:
- Seek education.
- Create a plan.
- Review your finances.
- Ask for help.
- Be prepared.
Connect with D’Arcy McDonald:
- Website
-
Twitter
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
November is Financial Literacy Month in Canada, and there is no better time to talk about financial fitness and why it is so important to be financially fit all year round. It is increasingly crucial that Canadians have the knowledge, skills, and confidence to make informed decisions about their finances as the financial marketplace grows increasingly complex.
In this episode, I'm breaking down what it means to be financially fit and diving into where Canadians see themselves in terms of financial ambitions as a result of the pandemic. Listen in as I discuss high-interest rate credit products, including why you should avoid them and what you can turn to instead if you find yourself in need of some quick cash.
“Find out the answers to the questions before you take any action and borrow any funds.” - Tracey Bissett
This Week on Young Money:
- The themes of this year’s Financial Literacy Month.
- How the pandemic has affected Canadians’ financial fitness.
- Why you should avoid high-interest rate credit products.
- The questions to ask yourself before taking on a high-interest rate credit product.
Key takeaways:
- Financial literacy is key to financial success.
- Avoid high-interest rate credit products whenever possible.
- Be informed.
-
No matter what, make the best choice for you.
Resources Mentioned:
-
EP044 Dangers of Payday Loans
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
- EP216 How to Deal with Debt Overload with Linda Stern, Crowe Soberman
- CIBC Ambitions Survey: Pandemic Hasn’t Derailed Canadians’ Ambitions
- MONEY Forget payday loans, this is Canada’s new generation of high-interest loans
- Acorn Canada: Study on High Interest Loans
-
Pay $4,300, get $1,750 back after 3 years. One man’s cautionary tale about ‘savings loans’
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Happy small business month! We are celebrating all of our small business owners in Canada this month, and what year it has been. As the pandemic continues, small businesses have had to navigate an ever-fluctuating market and get really creative as they come up with solutions to keep their businesses running. So, in this episode, I want to take some time to celebrate these brilliant business owners and highlight the amazing work they’re doing.
Listen in as I explain what I have witnessed to be the most important processes to have in place for companies as they have to continue to work through uncertain times. You will learn why you should always have an emergency fund, how to appropriately budget your finances, and how to proactively plan for your future.
“Companies that proactively plan are able to be more successful.” - Tracey Bissett
This Week on Young Money:
- How to be successful in the event of a market downturn.
- The importance of planning for the unexpected.
- Why you should always have a cash reserve for emergencies.
- How to be agile and quickly adapt in the face of uncertainty.
- The benefit of continuing to advance your knowledge on your finances.
- How to navigate conversations with your bookkeeper.
Key takeaways:
- Plan for the unexpected.
- Have an emergency fund.
- Manage debt.
- Advance your knowledge.
- Take action.
-
Ask questions.
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Linda Stern is a Senior Manager and Licensed Insolvency Trustee at Crowe Soberman Inc. With over twenty-five years of experience working in Canada, primarily in consumer insolvency matters consulting with individuals overwhelmed with debt, Linda helps people find solutions that work best for their financial and personal situations. In this episode, she joins the show to share her advice on what to do if you find yourself in debt, as well as how not to get overloaded with debt as you move forward in life.
Listen in as Linda explains the importance of patience within her profession and why it is essential to understand the advice you are receiving from your Insolvency Trustee. (If you are unsure, ask questions!) You will learn the current landscape of debt and bankruptcy in Canada, why creating a budget for your spending is important, and success tips for managing your finances.
“Providing information clearly and with patience is key.” - Linda Stern
This Week on Young Money:
- What a licensed insolvency trustee is.
- What Linda is seeing with respect to Canadians and debt levels.
- Whether there have been more people filing for bankruptcy as of late.
- What you need to know about working successfully with an insolvency trustee.
- Common missteps to avoid when it comes to debt.
- The importance of understanding your spending.
Key takeaways:
- Be patient.
- Ask questions.
- Create a budget.
- Understand your spending.
- Seek professional advice.
Connect with Linda Stern:
- Website
-
Twitter
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP044 Dangers of Payday Loans
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
-
EP184 Credit Canada Debt Solutions with Keith Emery
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Lena Sisco is a former Department of Defense (DoD) certified Military Interrogator and Naval Intelligence Officer who served in the Global War on Terror. In 2013, Lena started her own company called The Congruency Group to offer specialized consulting and training services. Today Lena joins the show to discuss body language and the power of being able to detect deception, as well as some helpful tips for us to use in our personal and professional lives.
Listen in as Lena shares several examples of how to build trust with someone in order to get the truth. You will learn how to set the tone of a meeting simply through your body language, how to make a stronger connection with someone, and why we should never jump to conclusions.
“When you can connect with people, that’s when they start to trust you. That’s when the guard goes down.” - Lena Sisco
This Week on Young Money:
- What we can learn from others' body language.
- How to tell if someone is lying.
- How to build trust with someone in order to get the truth.
- The best way to validate our observations to make sure we aren't jumping to conclusions.
- How you can feel empowered to move forward after deception has happened.
- How to strengthen your connection to someone.
- The importance of letting your body language remain natural.
Key takeaways:
- Be mindful of your body language.
- Communication is a combination of verbal and non-verbal.
- Don’t jump to conclusions.
- Talk with your hands.
- Have open conversations.
- Let people know how you feel.
- Be confident in yourself.
Connect with Lena Sisco:
- Website
-
Truth Sisters Academy
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
Join us for the Financial Foundation to Entrepreneurial Peace Training –
Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, October 11. Register at bizpeace.com!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and
offline who want to proactively change the way they are handling their money matters and navigate the current
environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, October 11 at 2pm EST - Session 2: Pricing 101 (Key #3)
Tuesday, October 12 at 2pm EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, October 13 at 2pm EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, October 14 at 2pm EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, October 15 starting at 2pm EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
We kick things off on Oct. 11th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Stephanie Koonar is a marketing professional, academic, career coach, and workshop facilitator. Stephanie offers “Meaningful Career” private coaching and online courses supporting young people and those in mid-career transitions. Today she joins the show to discuss the importance of finding your reason for living—or ikigai—in order to live a more purpose-driven and fulfilled life.
Listen in as she shares her advice for building practical skills, as well as growing your network so you can broaden your knowledge. You will learn the benefit of learning about other cultures, why it is important to be open to different world views, and tips for any job-seekers looking to make their way into a long-term career.
“It’s really about applying your gifts and strengths to a career that’s meaningful to you.” - Stephanie Koonar
This Week on Young Money:
- Stephanie’s background and how she became involved in her career.
- The inspiration that led Stephanie to write her book.
- What the ikigai framework is and why we should care about it.
- Why it is important to learn about other cultures.
- The benefit of thinking about the long game in your education and career.
Key takeaways:
- Find your purpose.
- Build your network.
- Broaden your social circle.
- Be open to different views.
Connect with Stephanie Koonar:
- Website
-
LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- Gift Bundle: https://backpacktobriefcase.ca/bundle/ $300 discount code: giftbundle
- Backpack to Briefcase: A Student's Guide to a Meaningful Career Journey by Stephanie Koonar
- EP043 Create a Stand Out Cover letter, Resume and LI Profile with Kamara Toffolo
- EP110 Milli Moves: ASPIRE with Karla Badger-Brown of Toronto Finance International
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students
-
EP210 Maximize Your Earning Potential using LinkedIn with Sabita Singh
Join us for the Financial Foundation to Entrepreneurial Peace Training – Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, October 11. Register at bizpeace.com!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and
offline who want to proactively change the way they are handling their money matters and navigate the current
environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, October 11 at 2pm EST - Session 2: Pricing 101 (Key #3)
Tuesday, October 12 at 2pm EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, October 13 at 2pm EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, October 14 at 2pm EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, October 15 starting at 2pm EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
We kick things off on Oct. 11th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Anjali Pradhan, CFA, is an investment coach to women through her business Dahlia Wealth. She teaches women to invest their money so that they can grow their wealth and live a life filled with opportunity, and her services are offered through a unique online program called “Investing for Boss Ladies.” In this episode, Anjali will be joining the show to share her expertise on investments and explain how you can start getting involved in investing today.
Listen in as she describes how to get diversification in your money and why you should always start investing at an early age rather than waiting. You will learn the benefit of hiring a professional or asking for help when you start thinking about investing, as well as several mistakes to avoid in the process.
“When you are a business owner, you set the hours.” - Anjali Pradhan
This Week on Young Money:
- Anjali’s background and how she got involved in finances.
- The challenges she faced as a woman in finances.
- How she has found a work-life balance.
- Success tips for investing.
- Why it is important to start investing at a younger age.
- Surround yourself with people who are also money conscious.
- Mistakes to avoid when investing your money.
Key takeaways:
- Invest your money.
- Do your research.
- Maximize employee benefits.
- Manage your money.
- Be responsible.
Connect with Anjali Pradhan:
- TikTok
-
YouTube
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP062 What is your Money Mindset?
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP047 Adventures with Crypto – 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP181 Milli Moves: How to Avoid FOMO When Investing
- EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained
- EP195 Milli Moves 5 Lessons Learned from My First NFT Purchase
-
EP211 Milli Moves: How to Maximize your Employee Benefits
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, October 11. Register at bizpeace.com!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, October 11 at 2pm EST - Session 2: Pricing 101 (Key #3)
Tuesday, October 12 at 2pm EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, October 13 at 2pm EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, October 14 at 2pm EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, October 15 starting at 2pm EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training. We kick things off on Oct. 11th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Deciding on a purchase can be harder than it seems. As a society, we are bombarded with choices and advertisements are everywhere fighting for our attention. People go about the buying process in many different ways, from researching everything to making a split-second decision on what to spend their hard-earned dollars on. So, in this episode, I am going to walk you through my purchasing pro tips to give you confidence the next time you are thinking about making a purchase.
Listen in as I share the importance of contemplating whether you actually need an item before you spend money on it and how to decipher if you can actually afford it. There is nothing worse than buying something and then never using it. Not only did you waste your money, but you deprive yourself of something else you could have had instead. But if you follow these tips, they'll help you avoid this issue moving forward.
“The first thing we should be thinking about is: do we need what we are contemplating buying?” - Tracey Bissett
This Week on Young Money:
- How to ensure what you are wanting to buy is actually necessary.
- Why assessing whether you can truly afford something before haphazardly spending is key.
- When you should ask the experts for help.
- How to avoid wasting your hard-earned money.
- The importance of doing your research before making a purchase.
Key takeaways:
- Do your research.
- Understand your finances.
- Assess your wants and needs.
-
Ask for help.
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, October 11. Register at bizpeace.com!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, October 11 at 2pm EST - Session 2: Pricing 101 (Key #3)
Tuesday, October 12 at 2pm EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, October 13 at 2pm EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, October 14 at 2pm EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, October 15 starting at 2pm EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training. We kick things off on Oct. 11th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today I’m going to be sharing how to maximize your employee benefits package. You’ve heard me talk about the importance of reading through legal agreements before, and the same is true when it comes to this area. Read everything related to your benefits, make notes, ask questions, and ask for a guide. To help you understand the important parts to be looking at, I’m going to break down the benefits into two groups: money for you and money savings for you.
Listen in as I explain what an Employee Stock Plan is, as well as why you should always take advantage of employee matching through RRSP or TFSAs. You will learn the importance of reassessing your benefits annually and after any major life event, why you must understand what comes with naming a beneficiary, and how to utilize your Employee Assistance Plans.
“Reassess your benefits if you have a life change, typically a marriage, divorce, or new dependent like a baby.” - Tracey Bissett
This Week on Young Money:
- How to make the most of your employee benefits.
- Why it is important to ask for help when you don’t understand something.
- The two groups of benefits you should be looking into.
- What you need to know before selecting a beneficiary.
- The importance of reassessing your benefits after a major life change.
Key takeaways:
- Do your due diligence.
- Ask questions.
- Assess your benefits annually.
-
Understand what you are signing up for.
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
-
Toronto Star Article - In Your Corner: The Key to Maximizing Your Workplace Benefits. Find out what they are
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, September 20. Register at bizpeace.com!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, September 20 at 11am EST - Session 2: Pricing 101 (Key #3)
Tuesday, September 21 at 11am EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, September 22 at 11am EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, September 23 at 11am EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, September 24 starting at 11am EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training. We kick things off on Sept. 20th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Sabita Singh is the President of Trivetta Consulting Inc, which she formed in 2018. After recognizing the power of LinkedIn, Sabita specialized in becoming a strategic LinkedIn coach, trainer and speaker. She is now known for writing all-star LinkedIn profiles for her clients to improve their visibility. Today she joins the show to discuss how to build an ACTIVE presence on LinkedIn to attract new career and business opportunities.
Listen in as Sabita shares the importance of staying in contact with your network regardless of how busy you may be with your career. You will learn the importance of having an emergency fund, how to add the right individuals to your network and how to write the perfect LinkedIn profile.
“No matter how busy you get in your corporate job, take time to engage with your network because you never know when you’re going to need help from someone.” - Sabita Singh
This Week on Young Money:
- How to use LinkedIn to build a professional brand.
- If you can use LinkedIn to grow a business.
- The key factors that have led to Sabita’s success.
- The importance of keeping up a network.
- What social selling is and how to utilize this in your business.
- How to build meaningful connections.
- Missteps to avoid when building online relationships.
Key takeaways:
- Diversify your knowledge.
- Grow a savings account.
- Build a network.
-
Personalize invitations.
Connect with Sabita Singh:
-
LinkedIn
- Website
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, September 20. Register here!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, September 20 at 11am EST - Session 2: Pricing 101 (Key #3)
Tuesday, September 21 at 11am EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, September 22 at 11am EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, September 23 at 11am EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, September 24 starting at 11am EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training. We kick things off on Sept. 20th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
I am passionate about helping young millionaires in the making accomplish their goals by becoming financially fit, and a key part of this equation is education. Unfortunately, paying for school can be stressful, but it is possible for you to reduce the financial burden with scholarships. So why not make use of other people’s money? In today’s episode, I am going to share secrets to scholarship success to make it easier for you to secure scholarships.
Listen in as I explain the benefit of taking the time to apply for a scholarship—even if you are not in serious financial need or there are many other applicants. You will learn the best time to apply for a scholarship (hint: you can apply at any time!), why you should not solely rely on school-provided scholarships, and how to stand out from the crowd of applicants.
“Use the opportunities that don’t cost you anything and are going to give you opportunities to build your resume and make you stand out.” - Shelley Clayton
This Week on Young Money:
- Why your grades don’t dictate your potential for awards.
- The importance of applying for scholarships even if you believe there are too many applicants.
- Why it is never too late to apply for a scholarship.
- The benefit of applying even if you are not in financial need.
- Why writing a cover letter for your application is key.
Key takeaways:
- Be persistent.
- Educate yourself.
- Put yourself out there.
- Stand out.
-
Work hard.
Resources Mentioned:
-
Tracey Bissett – Money Coach YouTube Channel
- EP028 Fund Your Education with Loyalty Points by Suzanne Tyson of HigherEdPoints
- EP030 Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- EP042 Best of Tips for Postsecondary Education
- EP048 Increasing Access to Post Secondary Education with Shelley Clayton
- EP113 Milli Moves: How to Pay for Postsecondary School with Suzanne Tyson
- EP122 Milli Moves: Accessible Post Secondary Education with Chris Wilkins, SchoolFinder Group
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP159 Milli Moves: Seeking Scholarships with Glenda Healy
- EP171 Spotlight on Young Money Scholarship Recipients Leeah & Erica
- EP176 Spotlight on Young Money Scholarship Recipients Sharaf & Courtney
- Scholarships Canada
- HigherEdPoints
- My Campus GPS
-
Seeking Scholarships
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery With Money Coach Tracey Bissett
Starting Monday, September 20. Register below!
This LIVE training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success. In this LIVE Training You Will Learn:
- Session 1: Cash Flow 101 & Why it is Important to Know your #s (Key #1) & Cash Flow Forecasting 101 (Key #2)
Monday, September 20 at 11am EST - Session 2: Pricing 101 (Key #3)
Tuesday, September 21 at 11am EST - Session 3: Stakeholder Conversations (Key #4)
Wednesday, September 22 at 11am EST - Session 4: Putting into Practice your Full Set of Keys (Key #5)
Thursday, September 23 at 11am EST - Bonus Sessions: Money Mindset, Success Stories & Q&A
Friday, September 24 starting at 11am EST
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training. We kick things off on Sept. 20th so head over to bizpeace.com to get registered today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We are all in different places in our financial fitness journey. Similar to physical fitness, we could be taking our first step off the couch to walk around the block, or we could be further along and training for a marathon. It is the same when we talk about financial fitness—we could be simply learning about credit cards, or we could be learning to become sophisticated investors. So, in this episode, I want to go back to basics and talk about financial literacy, specifically what you are doing to advance yours.
Listen in as I explain what financial literacy and financial resilience are, and share several steps you can take to increase both of these areas in your life. You will learn the importance of consistently moving toward your goals, how to ensure your finances match your goals, and the benefit of seeking professional advice when you are unsure.
“Everyone’s pace on the journey looks different.” - Tracey Bissett
This Week on Young Money:
- The importance of taking small actions every day to move toward your goals.
- Why it is important to start wherever you are, no matter where that is.
- The benefit of taking advantage of books, podcasts, or whatever you have access to for information.
- Why we must learn from our mistakes instead of simply giving up.
- Why it is okay to change your financial goals to reflect your life plans.
Key takeaways:
- Build on the foundations you have.
- Be resourceful.
- Don’t give up.
-
Seek professional help.
Resources Mentioned:
-
Tracey Bissett – Money Coach Youtube Channel
- Watch Out for Revenge Spending Article
- EP202 Revenge Spending 101
- Biz Peace Training
-
12 Month Money Planner
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We have been fortunate to have so many amazing guests on the show over the years, sharing their stories and knowledge with us. From children as young as seven to young adults making waves in the investment space, these millionaires in the making have so much wisdom to give. So, in this episode, I want to provide you with some of my favorite clips from several of these incredible young folks.
Listen in to hear what inspired and motivated these young investors to begin investing, as well as the lessons they have learned throughout their journey. You'll learn about the strategies they use to build their wealth and their portfolios and more.
“Think of money as a tool. You have to learn how to use it, make it, and make it grow.” - Leanna Haakons
This Week on Young Money:
- How many people have graduated with student debt.
- Why it is essential to be aware of the costs of your education.
- Why you must have an understanding of what credit card debt can lead to.
- Common misinformation around investing.
- How much money you really need to make an investment.
- The importance of understanding the types of investments you can make.
Key takeaways:
- Be open.
- Be curious.
- Be persistent.
- Pay off debt.
- Do your research.
-
Take calculated risks.
Resources Mentioned:
-
Tracey Bissett – Money Coach Youtube Channel
- EP018 Cashflow Cookbook with Gordon Stein
- EP002 Out of the Mouths of Young Money Masters
- EP024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP038 Investor Spotlight Part 1
- EP040 Investor Spotlight Part 2
-
EP053 Choose Your Path to Financial Success
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
The 2021 Tokyo Olympics have been unlike any we have had before. Delayed by a year due to the pandemic, and with COVID-19 restrictions in place resulting in health precautions and limited attendance, this year's Games have offered many lessons and takeaways that can be applied to financial fitness, and I'm excited to share those with you today.
Listen in as I discuss the importance of consistency when growing your wealth and knowledge around finances, as well as the benefit of taking calculated risks with your money. You'll learn why you should never be afraid to ask questions, why consistent saving is crucial, and how mental health plays into all of this. There is so much to be learned from these athletes, and I hope you will implement some of these lessons into your financial strategies.
“Educating ourselves, starting small, and consistently saving and investing with time on our side to earn compound interest is the key.” -Tracey Bissett
This Week on Young Money:
- Why you should be aware of your mental health.
- The importance of saving consistently and investing your money.
- Why you should never stray away from asking for help when needed.
- The benefit of having someone help you with your finances.
- Why taking care of yourself first is so important.
Key takeaways:
- Consistency is key.
- Be bold.
- Ask questions.
-
Mental health matters.
Resources Mentioned:
-
Tracey Bissett – Money Coach Youtube Channel
- EP018 Cashflow Cookbook with Gordon Stein
- EP024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP034 Jeremiah Brown The 4 Year Olympian
- EP038 Investor Spotlight Part 1
- EP040 Investor Spotlight Part 2
- EP178 Broke Millennial Talks Money with Erin Lowry
- EP183 Talk Money to Me During COVID and Other Times of Financial Distress with Kelley Keehn
-
LifeWorks Financial Wellbeing Index Canada: Spring 2021
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Connor Craig joins the show today to share his perspective on post-secondary education life, internships and what he’s been learning about financial literacy. He’s in the Business Management and Organizational Studies program at Western University, and is doubling up with internships at both Capital Markets and with me at Bissett Financial Fitness. In this episode, he discusses everything from work ethic and perseverance to the important lessons he learned in the last year or so.
Listen in to hear why Connor decided to pursue business and gain insight into consumer behavior. He shares how important it is to know how to manage finances—even from the early days—and gives some key tips to his fellow millionaires in the making.
“I’m a really firm believer in putting in the hard work, and I love seeing outcomes, whether it’s in school or rugby or whatever.” - Connor Craig
This Week on Young Money:
- What influenced Connor's interest in business and finance.
- How financial literacy affects us from a young age.
- What you need to do to start gaining financial literacy.
- Obstacles Connor has had to overcome throughout his university life.
- The process and experience of applying to the Richard Ivey School of Business.
- How to juggle multiple projects and responsibilities.
- Things Connor wishes he knew financially and the budget tool he is working on.
- The impact of COVID on his school and work experience.
Key takeaways:
- Learn from your elders.
- Put in the hard work.
- Be your better self at all times.
- Take the negative and turn it into positive opportunities.
- Have a versatile skillset and mindset.
-
Work on time management.
Connect with* Connor Craig:***
-
LinkedIn
Resources Mentioned:
-
Tracey Bissett – Money Coach Youtube Channel
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Ean Price Murphy founded Moxie Bookkeeping & Coaching Inc to work with creative businesses and nonprofits - companies who are usually deeply engaged with their work but frequently not comfortable with numbers. In this episode, Ean joins the show to discuss her journey from bankruptcy to successful business owner, as well as the lessons she learned along the way.
Listen in as she explains the importance of being resilient and persistent in finding information regarding financial literacy. You will learn the importance of asking the right people the right questions, how to take the mystery out of money, and the benefit of doing your due diligence when seeking financial advice.
“I’m a firm believer that small business health is deeply connected to community health.” -Ean Price Murphy
This Week on Young Money:
- The importance of being resilient and persistent in life.
- Why you must understand your own value.
- The benefit of doing your own research in terms of wages.
- Why it's important to talk about money.
- How to ask the right people the right questions.
- Why you shouldn’t spend money you don’t have.
- What to do when your family isn’t comfortable with money.
Key takeaways:
- Be resilient.
- Don’t be overly attached to the “how.”
- Ask for help.
- Let go of the shame around money.
- Do your due diligence.
-
Advocate for yourself.
Connect with* Ean Price Murphy:***
-
Website
- Abundantly Clear Facebook
Resources Mentioned:
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
- EP184 Credit Canada Debt Solutions with Keith Emery
-
Tracey Bissett – Money Coach Youtube Channel
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Jackie Porter is an awarding-winning certified financial planner, best-selling author, and featured speaker who has helped thousands of clients grow their net worth, build a fortress around their finances, and keep more of their cash in their pockets. In this episode, Jackie joins the show to talk about Anti-Black racism in Canada and its adverse economic and social effects on Black Canadians.
Listen in as Jackie explains her experience growing up without knowing about the value of money, as well as the moment that changed her life in regards to this. You will learn what financial racism is, why access to financial education is not equal, and what actions we can take to eliminate Anti-Black racism in our country moving forward.
“Racism is real, and people need to understand that.” -Jackie Porter
This Week on Young Money:
- Jackie’s experience growing up without knowing about the value of money.
- What redlining is and why the impacts are still being felt despite it being illegal.
- Why it is harder for Black Canadians to build wealth through homeownership.
- The barriers Black Canadians experience in financial education.
- How we can increase financial literacy as a whole.
- Why it is not just about being empathetic, but rather how you can take action.
Key takeaways:
- Do your research.
- Have a business-first mindset.
- Make a plan.
-
Find and utilize resources.
Connect with* Jackie Porter:***
-
Website
- Legacy Box
Resources Mentioned:
- EP006 What are Your Intentions ... Financially Speaking with Jackie Porter?
- EP069 How to be Financially Resilient with Jackie Porter
- BCG report
- Black Opportunity Fund website
- Black North Initiative
- Redlining in Canada
- Impact of Anti-Black Racism in Canada
-
BDC Black Entrepreneur – Building Black Businesses
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Have you heard about "revenge spending"? This term was created to describe the frenzied spending that is taking place now that people are able to get out and spend their money again. This rush to spend typically follows an unprecedented event—such as the pandemic—as people seek to reclaim control and a sense of normalcy. So in this episode, I will be sharing the steps you can take to avoid revenge spending and become more financially confident.
Listen in as I explain the importance of having an emergency fund and why so many people are not financially prepared if they were to suddenly lose their job. You will learn the importance of creating a budget to ensure you are not spending money you don’t have and why you shouldn’t base your spending on how others are spending.
“Financial confidence is strongly related to financial well-being.” -Tracey Bissett
This Week on Young Money:
- How to manage the revenge spending urge.
- What percentage of Canadians rank money as their greatest source of stress.
- How many people couldn’t afford to live for a week if their income suddenly disappeared.
- The importance of creating a budget and how can this can secure your financial future.
- What an emergency fund is and how to implement that into your savings plan.
Key takeaways:
- Create a budget.
- Have an emergency fund.
- Pay off debt.
-
Set boundaries.
Resources Mentioned:
-
LifeWorks Financial Wellbeing Index Canada: Spring 2021
- Young Money Scholarship
- Tracey Bissett – Money Coach Youtube Channel
-
Biz Money Club – Want a casual meet up with business owners? Join us for the weekly Biz Money Club meet-up – register at bizmoneyclub.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
A Chartered Professional Accountant by training, Robin Taub began her career at KPMG, transitioned into real estate, and then landed in the complex world of derivatives marketing at Citibank Canada. Today, she’s a professional speaker and the author of The Wisest Investment, an update of the bestselling A Parent’s Guide to Raising Money-Smart Kids. In this episode, Robin discusses how you can open up the conversation around money with your children and the young adults in your life.
Listen in as she breaks down the five pillars of money and how to meet young people at any age with the right information. You will learn why Robin believes money is such a taboo topic, as well as what a tax-free savings account is and how you can use that to build your wealth.
“Kids want to learn from their parents.” -Robin Taub
This Week on Young Money:
- A day in the life of Robin Taub.
- How to teach your kids to be responsible with money.
- What Robin calls the five pillars of money.
- The importance of checking the credibility of the information you’re consuming.
- The benefit of using a tax-free savings account.
- How to find a cause you care about and how this can benefit you in your career.
Key takeaways:
- Do your homework.
- Education is key.
- Become tax literate.
- Be aware of fraud.
-
Give back.
Connect with* Robin Taub*:
-
Website
- The Wisest Investment by Robin Taub
Resources Mentioned:
- The Grumpy Accountant by Neal Winokur
- EP049 5 Questions to Answer Before Getting a Credit Card
- Young Money Scholarship
-
Tracey Bissett – Money Coach Youtube Channel
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We did it! Together we have created 200 episodes, are listened to in over 40 countries and have been downloaded over 165,000 times! I am so excited to know that you are enjoying the show, and I love the engagement we have received over the years. In this episode, I'm flipping the show for you—I will be interviewed by my long-time friend, Jennifer Boudreau, so that you can get to know me a little bit better.
Listen in as I share how I grew up and my personal financial journey. You will learn the importance of believing in yourself, why it’s essential to make time for fun in your life and the benefits of investing from a young age. Thank you so much for all of your support and encouragement over the years and know it is because of you that this is all possible!
“I think when you have good things in your life and you have a good life, it’s your responsibility to give back to others.” -Tracey Bissett
This Week on Young Money:
- Some of the amazing reviews we have received over the years.
- A little bit about my childhood.
- Why I wish I took more risks as a young adult.
- How I started out in finances.
- The importance of investing from a young age.
- The benefit of giving back if you have the ability.
Key takeaways:
- Be persistent.
- Believe in yourself.
- Have fun.
-
Take risks.
Connect with* Jennifer Boudreau*:
-
LinkedIn
Resources Mentioned:
- Young Money Scholarship
-
Tracey Bissett – Money Coach Youtube Channel
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
I recently spoke with the Canadian Association of Student Financial Aid Administrators, a group of hard-working professionals supporting students across Canada at colleges and universities, about financial fitness in 2021, and today I'll be sharing with you the thoughts I spoke about with them. It was wonderful to hear their perspectives and questions as they continue to look for ways to support students.
Listen in to hear about the financial implications of the pandemic, as well as the impact of the pandemic on the finances of postsecondary students. You will learn how to better support students in their financial fitness journeys, why the pandemic hit women harder than men, and the importance of being mindful of your spending.
“Incur as little debt as you can.” -Tracey Bissett
This Week on Young Money:
- The financial implications of the pandemic.
- The impact of the pandemic on the finances of postsecondary students.
- How to support postsecondary students' financial fitness.
- The impact the pandemic had on women.
Key takeaways:
- Get back to basics.
- Have an emergency fund.
- Ask for help when needed.
- Be open-minded.
-
Be kind.
Resources Mentioned:
-
Young Money Scholarship
- Tracey Bissett – Money Coach Youtube Channel
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP047 Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP181 Milli Moves: How to Avoid FOMO When Investing
- EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained
-
EP195 Milli Moves: 5 Lessons Learned from my first NFT purchase
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
For many of us, these last 16 months have been a challenge, both personally and professionally. With constant worry about the future in regards to our health, our finances, and the wellness of our loved ones, it’s hard to find the positives in this situation. However, during this time I have had the pleasure of speaking with some amazing people, and there have been many common topics or themes that have emerged. In this episode, I will be sharing the lessons that I have learned throughout this year, as well as what I will be keeping top of mind now and in the future.
Listen in as I explain the benefit of asking for help when you need it and why this is not a sign of weakness. You will learn how to be okay with things changing or not going to plan and why we should place value on building relationships with our loved ones, not on items or things. This is your reminder to enjoy life and savor the moments.
“Place value on people, experiences, and connection versus things and status.” -Tracey Bissett
This Week on Young Money:
- The importance of putting time and effort into building relationships with your loved ones.
- How resilient we are as humans and how we can overcome the toughest situations.
- The benefit of working together with others to get through tough times.
- Why we must be okay with things not always going the way we planned.
- Why preparing for unexpected things is key.
Key takeaways:
- Place value on people, not things.
- You are strong enough.
- Ask for help when needed.
-
Unexpected things happen.
Resources Mentioned:
-
Tracey Bissett - Money Coaching YouTube Channel
-
Young Money Scholarship
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting June 14. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, June 14 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, June 15 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, June 16 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, June 17 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, June 18 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
With Bitcoin being the hot topic as of late, there are many questions circulating about what it is and how you can involve yourself with cryptocurrency. To help us dive into this topic and clear up any misconceptions around Bitcoin is the author of Magic Internet Money: A Book About Bitcoin, Jesse Berger. In this episode, Jesse will be breaking down this enigmatic topic and unraveling the promise of sound money.
Listen in as he shares his knowledge to help us make the most informed decision to increase the amount of money we have. You will learn why there is no such thing as objective value, why dollars cannot accurately portray prices, and whether Bitcoin is environmentally friendly.
“Don't trust—verify.” -Jesse Berger
This Week on Young Money:
- Common misconceptions around Bitcoin.
- How Jesse got into Bitcoin and Blockchain.
- The difference between Bitcoin and bitcoins.
- What Blockchain is.
- How people can begin to get involved in Bitcoin.
- Whether Bitcoin uses energy.
Key takeaways:
- Strive to be more efficient with money.
- Bitcoin drives energy efficiency.
- Do your research.
Connect with Jesse Berger:
- Website
-
What Elon Musk Gets Wrong About Bitcoin Article
Resources Mentioned:
-
EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP047 Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP181 Milli Moves: How to Avoid FOMO When Investing
- EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained
- EP195 Milli Moves: 5 Lessons Learned from my first NFT purchase
- Magic Internet Money: A Book About Bitcoin by Jesse Berger
-
Young Money Scholarship
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting June 14. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, June 14 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, June 15 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, June 16 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, June 17 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, June 18 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
When we are more productive in our lives, we are able to have balance and get things done efficiently - all of which lead to increasing our earning potential. However, with so many distractions in this technology focused world we live in, it can be difficult to remain on task and stop procrastinating. So, in this episode, I will be speaking with Mark ‘Ski’ Struczewski, otherwise known as “Mister Productivity,” about how we can increase our productivity, overcome overwhelm, and focus on what matters.
Listen in as Mark shares the importance of focusing on the things we can control, as well as the top five distractions you need to be aware of - and how to avoid them. You will learn how to compartmentalize, why you should set boundaries around where/when you work, and how to be more disciplined. If something is taking you away from your goals, remember, only you have the power to decide how you spend your time.
“If you’re not successful, don’t tell other people how to be successful.” -Mark Struczewski
This Week on Young Money:
- How Mark got started in productivity.
- Why he decided to focus on getting rid of distractions within the productivity realm.
- The importance of focusing on the things we can control.
- The top five distractions to be aware of.
- How to compartmentalize your day.
- Why you must be respectful of your own time.
Key takeaways:
- Turn off notifications.
- Take control of your time.
- Plan your days.
- Set office hours - even if you’re working from home.
- Set boundaries.
Connect with Mark Struczewski:
- Website
- YouTube
-
Podcast
Resources Mentioned:
-
Social Dilemma
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting June 14. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, June 14 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, June 15 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, June 16 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, June 17 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, June 18 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
I’ve mentioned previously that no matter what news or social media you consume, you have probably heard people talking about NFTs (Non-Fungible Tokens). So, today I want to share more takeaways from my NFT purchase and the learnings from it. In this episode, I will be explaining which fees you should be wary of and the top five lessons I learned.
Listen in as I explain my findings from a buyers side and the importance of doing your own due diligence to ensure you are fully aware of what you are purchasing. You will learn about some of the reported best marketplaces and the different specialties that each of them offer.
“Be thorough in your due diligence, maintain a healthy skepticism and understand risks and downsides involved.” - Tracey Bissett
This Week on Young Money:
- Why you should always keep an eye out for hidden fees.
- The importance of doing your due diligence when purchasing things online.
- What to be wary of when purchasing NFTs.
- The importance of taking care of all of your records.
- The benefit of maintaining a healthy skepticism.
- Why you should always keep your goals top of mind.
Key takeaways:
- Take care of and maintain accurate records.
- Understand limitations around money movements.
- Understand the transaction costs.
- Do your due diligence and understand risks.
-
Stick to your goals.
Resources Mentioned:
-
Wealth Professional Awards
- Young Money Scholarship
- Vee Friends
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP047 Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- EP181 Milli Moves: How to Avoid FOMO When Investing
-
EP189 Milli Moves: Non-Fungible Tokens (NFTs) Explained
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting June 14. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, June 14 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, June 15 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, June 16 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, June 17 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, June 18 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We have all experienced the significant stress and exponential impact of the past year, especially if you are a business owner. To better understand the unique pressures that entrepreneurs face, BDC supported the Canadian Mental Health Association to survey almost 500 small and medium-sized businesses. So, in this episode I want to share with you some of the key findings from this study and explain why mental health is so important to talk about.
Mental health issues are not as uncommon as you may think in the work place. Entrepreneurs who are concerned about anxiety, stress, depression or any other mental health issue, should consult a doctor or a mental health professional. Remember, just like with financial fitness, you do not need to handle any of this alone.
“So what were the reported impacts of mental health issues at work ... 67% stressed about their cash flow.” -Tracey Bissett
This Week on Young Money:
- The key findings found from the Canadian Mental Health Association’s recent study.
- Why depression isn’t as uncommon as you think with business owners.
- The amount of people impacted by mental health issues at work.
- The importance of consulting a doctor if you are experiencing mental health issues.
Key takeaways:
- Seek help when needed.
- Talk about mental health issues.
-
Know that you’re not alone.
Resources Mentioned:
-
Young Money Scholarship Fund
- Financial Foundation to Entrepreneurial Peace Training
-
Entrepreneurs and Mental Health Study
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Business and personal finances are interconnected, but without the guidance of experienced planners, many business owners lose track of where their spending is going and things can become dangerously muddled. Anjali Jariwala, CPA, CFP® and the founder of FIT Advisors, is experienced in helping business owners and physicians navigate their finances as they continue their busy lives. In this episode, she will explain the steps you can take to feel empowered to discover and reach your life goals - all while building a stable financial future.
Listen in as Anjali shares her advice on finding the best financial advisor for your needs so that you feel comfortable asking any questions you may have and sharing all of your personal information. You will learn why entrepreneurs must be flexible and adaptable, as well as the importance of paying yourself accordingly as a business owner.
“You really want to make sure [your financial advisor] is someone you can fully trust because that makes the relationship really productive not only for you, but for the advisor as well.” -Anjali Jariwala
This Week on Young Money:
- The importance of finding a financial advisor you are comfortable with.
- Why you should never be afraid to ask questions if you are unsure what your advisor is telling you to do.
- How to find the right fit in terms of a financial planner.
- Missteps to avoid with finances as a business owner.
- Why you do not have to be wealthy to work with a financial planner.
Key takeaways:
- Ask questions.
- Have a strong work ethic.
- Be flexible.
- Be adaptable.
- Pay yourself accordingly.
-
Take risks.
Connect with Anjali Jariwala:
-
Website
Resources Mentioned:
-
Money Checkup Podcast
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Spending time overseas in countries where clean water is hard to come by, Alisha McFetridge uncovered the need for something to make this human essential more accessible to communities currently living without. She is now the co-founder and CEO of Rainstick, a clean technology company committed to cutting residential water usage in half. In this episode, she explains how her company is allowing people to live with half the energy and without compromise.
Listen in as Alisha describes that no matter what happens today, you have to put yourself out there and show up for yourself tomorrow. You will learn the benefit of surrounding yourself with mentors or people who you can learn from as well as the importance of being open to meeting new people. You don’t have to be good everything, just be open to learning along the way.
“Water is such a building block to livelihoods and education, sanitation and health.” -Alisha McFetridge
This Week on Young Money:
- Where Rainstick started.
- How to push through hard times.
- The benefit of finding mentors.
- Common misconceptions around entrepreneurship.
- The importance of celebrating your success.
- Why confidence is key.
- How to track what you are doing to ensure you are progressing.
Key takeaways:
- Persevere.
- Put yourself out there.
- Be open to meeting new people.
- Be resilient.
- Be scrappy.
- You don’t have to know everything.
-
Find balance.
Connect with Alisha McFetridge:
-
Website
- Rainstick LinkedIn
- Rainstick Instagram
Resources Mentioned:
- SheEO on Young Money
-
SheEO
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting May 10. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, May 10 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, May 11 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, May 12 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, May 13 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, May 14 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Anu Bidani is the founder and CEO of STEM MINDS, a social enterprise that empowers youth to develop a love of learning through STEM (Science, Technology, Engineering, and Math) education. Anu is an award-winning entrepreneur who is passionate about empowering the next generation of global leaders and innovators by making education accessible to children across the globe. In this episode, Anu joins the show to share the journey of starting her business and her advice for anyone considering this path for themselves.
Listen in as she explains the importance of embracing the ups and downs of launching a company and why you must be willing to take big, bold steps. You will learn how to be financially prepared for starting up your business, why it is important to create a priority list so you don’t get distracted by smaller tasks, and how to empower your team members to grow in their positions.
“Being an entrepreneur is a journey itself…embrace the journey when you are starting a business, because the idea you start with may not be how it looks 2-3 years from now.” - Anu Bidani
This Week on Young Money:
- A day in the life of Anu and what her job at STEM MINDS entails.
- Why you have to make bold choices in business.
- The importance of always being ready for scale so you are prepared for the future.
- How to plan financially for launching a business.
- Why supporting your team is essential to the success of your business.
Key takeaways:
- Watch the market and the trends.
- Be bold.
- Embrace the journey.
- Do your research.
- Start small but be prepared for growth.
- Review your numbers.
- Don’t get distracted.
- Prioritize.
-
Invest in teams.
Connect with Anu Bidani:
-
Website
- STEM Minds LinkedIn
Resources Mentioned:
- SheEO on Young Money
-
SheEO
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting May 10. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, May 10 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, May 11 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, May 12 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, May 13 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, May 14 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
The world of insurance and financial services can be difficult to understand if you're not working in the industry. Feeling ready for any financial emergency takes a lot of financial knowledge and preparedness, so to help us understand this complex industry a bit more and share his advice for anyone looking to fill the gaps in their financial life is Tony Steuer. Tony is an author, host of the Females & Finance Meet The Author Series, and a financial literacy thought leader.
Listen in as Tony describes the importance of finding the right form of education, seeking out someone who truly resonates with you. You will learn how to put your education into action, what you need to know about investing before you invest, and the importance of getting everything in writing.
“Finding a content provider that speaks to you is important.” - Tony Steuer
This Week on Young Money:
- A typical day in the life of Tony Steuer.
- Why Tony catches up on the news every day.
- The importance of planning out your day to be more productive.
- Why you have to practice what you learn.
- What you need to know about investing.
Key takeaways:
- Look at the finer details.
- Become educated.
- Know what your values are and stand by them.
- Don’t make major decisions under pressure.
- Understand what you're signing.
-
Get things in writing.
Connect with Tony Steuer:
-
Website
- Podcast
Resources Mentioned:
-
Organize Your Financial Documents
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting May 10. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, May 10 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, May 11 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, May 12 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, May 13 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, May 14 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
No matter what news or social media you consume, I am certain that you have heard people talking about Non-Fungible Tokens. A non-fungible token (or NFT for short) is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item. Therefore, they are not interchangeable, hence non-fungible. In this episode, I will be explaining why NFTs are being talked about currently, what to be aware of when you hear this term, and who uses NFTs.
Listen in as I describe the difference between an artist owning the copyright of his/her work and a buyer of an NFT. You will learn the benefit of creating an NFT, as well as the benefit of buying one, and why you may want to start collecting NFTs. If you have been hearing about this explosive trend but don’t quite understand what all the chatter is about, this is the episode for you.
“Let’s get back to basics. What are your goals? What is your risk tolerance and time horizon? Do these speculative investments fit into your strategy? If so, proceed with caution, and if you are like the majority of the population, watch with amusement and disbelief as others wade in.” -Tracey Bissett
This Week on Young Money:
- What NFT stands for and what it is used for.
- Whether other blockchains can implement their own versions of NFTs.
- Who can go online and look at NFTs.
- Whether anyone can stop people from copying digital art.
- The benefit of creating an NFT.
Key takeaways:
- Who can use NFTs.
- What an NFT is.
-
The downside of NFTs.
Resources Mentioned:
-
Wealth Professional Awards
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
-
EP181 Milli Moves: How to Avoid FOMO When Investing
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting May 3. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, May 3 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, May 4 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, May 5 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, May 6 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, May 7 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As Director of the Science of Imagination Laboratory, Jim Davies explores the processes of imagination in humans and machines, specializing in artificial intelligence, analogy,and problem-solving, as well as the psychology of art, religion, and creativity. Today he joins the show to share how you can optimize your mind and behavior by focusing on your productivity, happiness, and morality.
Listen in as Jim explains how you can make a positive impact on the world and why being a better person doesn’t necessarily have to do with how you treat the people around you day-to-day. You will learn how to measure the amount of good you are doing, how to make the most of your time, and the best charities to donate to.
“I’m not saying that it’s wrong to be nice to the people around you, but it’s a matter of the size of the impact.” - Jim Davies
This Week on Young Money:
- A typical day in the life of Jim Davies.
- Why he prefers waking up extra early in the morning.
- What it means to be a “better you.”
- How to measure how much good you do in the world.
- How to make the biggest impact.
Key takeaways:
- What matters and what doesn’t.
- Make a big impact
- Be nice to those around you
- Volunteer when you can.
-
Make use of your time.
Connect with the Jim Davies:
-
Website
Resources Mentioned:
- Science of Better
- Effective Altruism
-
Being the Person Your Dog Thinks You Are by Jim Davies
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Joshua Gray and Genevieve Sutherns are the co-founders of a social enterprise named Guelph Box. Guelph Box started as a way to help struggling or closed local businesses get their products into homes during the COVID-19 lockdown through curated weekly boxes of local merchandise. In this episode, Josh and Genevieve join the show to discuss their charitable efforts, sharing what pushed them to start their entrepreneurial ventures and what has led to their success.
Listen in as they explain the importance of helping others whenever you get the chance and what they wish they knew about money growing up. You will learn why it is essential that you start young to set yourself up for a strong financial future and how to be adaptable in the face of constant change. If you are looking for an inspiring story about two young entrepreneurs who are doing good in the world, this is the episode for you!
“Help others when you can. It’s possible to do good and business at the same time.” - Josh Gray
This Week on Young Money:
- What has led to their success in their entrepreneurial ventures.
- How they got started with Guelph Box.
- Their biggest tips for anyone looking to start a business.
- What they wished they knew about money growing up.
- The importance of being responsible with money.
- How to set yourself up for a strong financial future.
- What to avoid when starting your own business.
Key takeaways:
- Help others.
- Give back when you can.
- Set up a retirement fund.
- Plan for your future.
-
Be adaptable.
Connect with the Guelph Box creators:
-
Genevieve: LinkedIn
- Josh: LinkedIn
- Website
Resources Mentioned:
-
Beyond Borders
This episode is powered by the Cash Control Bootcamp
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.
To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.
Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As a Family Business Consultant, Sharon Spano helps thriving family business leaders develop family alignment so they can deepen their relationships, achieve sustainable business growth, maximize their impact, and secure a multi-generational legacy. Today she joins the show to share insights from her new book, The Pursuit of Time and Money, and explain the three elements of business she is committed to for success.
Listen in as Sharon explains why the way you think about money plays a big part in your success and everyday decisions. You will learn how to shift your mindset around money, how to “become a director of your own movie,” and some of the scarcity beliefs that are holding people back from where they want to go.
“Every decision we make is based on time and/or money.” - Sharon Spano
This Week on Young Money:
- What Sharon’s day-to-day life looks like as a family business consultant.
- The three elements of business Sharon is committed to.
- What spearheaded the idea for her book.
- How you should think about time and money.
- What radical abundance means and how to live with that in mind.
- What scarcity beliefs are.
Key takeaways:
- Shift your mindset around money.
- Become aware of your thoughts.
- Step into your biggest life.
- Be grateful.
-
Be the best you can be regardless of circumstances.
Connect with Sharon Spano:
-
Website
Resources Mentioned:
- The Pursuit of Time and Money by Sharon Spano
- Time and Money Habits Assessment
- EP062 What is your Money Mindset?
- EP063 Money Mindfulness with Jessica Moorhouse
- EP069 How to be Financially Resilient with Jackie Porter
-
EP101 How to Take Control of Your Financial Future like Taylor Swift
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting March 22. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1) - Monday, March 22 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2) - Tuesday, March 23 at 11am EST
Day 3: Pricing 101 (Key #3) - Wednesday, March 24 at 11am EST
Day 4: Stakeholder Conversations (Key #4) - Thursday, March 25 at 11am EST
Day 5: Putting into Practice your Full Set of Keys - Friday, March 26 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We are all experiencing the same stormy waters of the pandemic, but we're all in different boats. Every personal and business situation is different, and there is no one-size-fits-all advice. Remember that you are not alone, and there is support to help you when you need it. Today I want to share a story of a recent project I had with my team that we almost gave up on—but then bounced back with each challenge and persevered until it worked out.
Listen in as I explain the importance of being resilient when things don’t go to plan and remaining persistent until everything gets resolved. The same applies to your financial situation. Start wherever you are and take consistent, forward action until you reach your goals—and then set new goals and work towards those. If you have been feeling uncertain about your finances as of late, this is the episode for you.
“So what did we do while frustrated, inconvenienced, and tired? We pushed through, clarified our communication, asked question after question, and were able to resolve everything.” - Tracey Bissett
This Week on Young Money:
- How my team and I recently had to push through tough times.
- The importance of persevering.
- Why financial fitness is not for the faint of heart.
- How to build those muscles of resilience and persistence.
Key takeaways:
- Ask for help when you need it.
- Don’t give up on your goals.
- Be resilient.
-
You are not alone.
Resources Mentioned:
-
EP023 How to Protect Yourself from Fraud
- EP044 Dangers of Payday Loans
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- EP049 5 Questions to Answer Before Getting a Credit Card
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP074 How to Protect Your Business from Fraud
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP128 Adulting 101: How to Get Out of Debt - No Matter What Got You Into It
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
-
EP161 Why an Abundance Mindset and Kindness are Key to Financial Fitness
Join us for the Financial Foundation to Entrepreneurial Peace Training
Learn the Keys to Financial Basics & Money Mastery
Starting March 22. Register below!
With Money Coach Tracey Bissett
This LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: bizpeace.com
In this LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 & why it is important to know your #s (Key #1)
Monday, March 22 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2)
Tuesday, March 23 at 11am EST
Day 3: Pricing 101 (Key #3)
Wednesday, March 24 at 11am EST
Day 4: Stakeholder Conversations (Key #4)
Thursday, March 25 at 11am EST
Day 5: Putting into Practice your Full Set of Keys
Friday, March 26 at 11am EST
Register Now: bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Keith Emery is the COO for Credit Canada Debt Solutions, the country’s first and longest-standing credit counseling agency. Keith’s experience in the financial literacy industry spans over two decades, and he is recognized as one of the nation’s leading experts in personal finance. Today he joins the show to discuss what credit counseling is and why he believes it is so important.
Listen in as Keith shares several common misconceptions around finances, as well as the first steps you need to take to work toward becoming financially successful. You will learn how to save for unexpected expenses (vet bills, new appliances, medical bills, etc.), how to avoid high-interest debt, and tips for anyone already struggling with debt.
“If we’re going to be financially successful, we have to have a budget surplus.” - Keith Emery
This Week on Young Money:
- A day in the life of Keith Emery.
- What a credit counselor does.
- Common misconceptions around finances.
- What happens when the income supports end.
- Trends Keith is noticing in the economy and in his clients' financial lives.
- Tips for anyone struggling with debt.
- Biggest misconceptions about debt solutions.
Key takeaways:
- Don’t carry credit card debt.
- Prepare for unexpected expenses.
- Avoid high-interest debt.
-
Be honest about your finances.
Connect with Keith and Credit Canada:
-
Website
Resources Mentioned:
- EP023 How to Protect Yourself from Fraud
- EP044 Dangers of Payday Loans
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- EP049 5 Questions to Answer Before Getting a Credit Card
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP074 How to Protect Your Business from Fraud
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP125 Adulting 101: Learn How to WIN at the Credit Game with Richard Moxley
- EP128 Adulting 101: How to Get Out of Debt - No Matter What Got You Into It
- EP129 Adulting 101: Equifax's Julie Kuzmic on What's a Credit Report & Should I Care?
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
-
EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich + Smith
Entrepreneurs or those thinking about starting a biz or side hustle ...
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery
Starting March 22 - With Money Coach Tracey Bissett
Register below!
This free LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: www.bizpeace.com
In this free, LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 (Key #1) - Monday, March 22 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2) - Tuesday, March 23 at 11am EST
Day 3: Pricing 101 (Key #3) - Wednesday, March 24 at 11am EST
Day 4: Stakeholder Conversations (Key #4) - Thursday, March 25 at 11am EST
Day 5: Putting into Practice your Full Set of Keys - Friday, March 26 at 11am EST
Register Now: www.bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Follow the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we have a very special guest, Kelley Keehn, joining the show for the third time! Kelley is a financial educator whose mission is to make Canadians feel good about money. She has written many bestselling books, including Talk Money To Me, the latest addition to her published work with the COVID-19 special edition just released on February 23rd.
In this episode, Kelley explains the importance of understanding financial lingo and why we should ask for clarification when needed instead of pretending to know the answer. Listen in as she explains how to track your money so you know where you can cut down on costs, what to be aware of when using technology apps, how to protect yourself from fraud, and how to ‘spring clean’ your finances.
“I really do think that the financial industry needs to do a better job of making things simple and easy to understand.” - Kelley Keehn
This Week on Young Money:
- A day in the life of Kelley Keehn.
- How COVID has affected her life.
- The importance of understanding financial lingo.
- Why we should embrace being uncomfortable.
- The benefit of keeping an eye on where your money is going.
Key takeaways:
- Everyone has money problems.
- Embrace failure.
- Track your finances.
- Be aware of fraudulent apps.
-
Don’t be overconfident.
Connect with Kelley Keehn:
-
Website
Resources Mentioned:
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
-
Talk Money To Me by Kelley Keehn
Entrepreneurs or those thinking about starting a biz or side hustle ...
Join us for the Financial Foundation to Entrepreneurial Peace Training - Learn the Keys to Financial Basics & Money Mastery
Starting March 22 - With Money Coach Tracey Bissett
Register below!
This free LIVE 5 Day training has been specifically designed for future and existing entrepreneurs across all industries online and offline who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you want to make informed, powerful money decisions, you do not want to miss this important LIVE training.
Register Now: www.bizpeace.com
In this free, LIVE 5 Day Training You Will Learn:
Day 1: Cash Flow 101 (Key #1) - Monday, March 22 at 11am EST
Day 2: Cash Flow forecasting 101 (Key #2) - Tuesday, March 23 at 11am EST
Day 3: Pricing 101 (Key #3) - Wednesday, March 24 at 11am EST
Day 4: Stakeholder Conversations (Key #4) - Thursday, March 25 at 11am EST
Day 5: Putting into Practice your Full Set of Keys - Friday, March 26 at 11am EST
Register Now: www.bizpeace.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Samra Zafar is an award-winning and internationally renowned speaker, bestselling author, and educator for mental health, human rights, and equity. After arriving in Canada as a child bride and escaping a decade of abuse, Samra pursued her education as a single mother working multiple jobs and graduated as a top student with several awards and scholarships. Today she joins the show to share her incredible story, diving deep into her background and the major decisions that impacted the rest of her life.
You will hear how love, money and the power it can be used to exert, have shown up in Samra's life over the years. Listen in as she explains what led to her decision to start a business with her mother-in-law and how that decision impacted her ability to attend university. You will learn how she gained the courage to leave her abusive relationship, how her university became her lifeline, and why asking for help when you need it is incredibly important.
“We are not meant to do this alone. We are social creatures.” - Samra Zafar
This Week on Young Money:
- How money played a part in Samra’s upbringing.
- What led her to the courageous decision to start a business with her mother-in-law.
- Why education should be available to everyone.
- How to find the courage to ask for help.
- How to build resilience.
- Why we have to accept fear instead of rejecting it.
- How to stay focused to achieve your goals.
- Why you can’t get caught up in comparisons.
Key takeaways:
- Find courage.
- Be resourceful.
- Ask for help.
- Stay focused.
- Don’t compare yourself to others.
-
Listen to your intuition.
Connect with Samra Zafar:
-
Website
Resources Mentioned:
- EP037 Cohabitate in a Financially Fit Way
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP126 Love and Money: 3 Keys to Success
- EP127 Sex & Money: Shining a Light on Human Trafficking
- EP180 Love and Money: Financial Harmony with Adam Kol
- Ted Talk: The Culture of Honor
- Ted Talk: Be Your Own Hero
- I was abused as a child bride and this is what I learned
-
Brave Beginnings
Young Money Listener Contest!
February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!
Contest closes February 28th!
Not sure how to leave a review, check out the instructions here.
Socials: Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
One of the questions I get asked the most is how to invest or get involved in investing. The reason is that investing gets all the hype in the market, online, and in the news. It's often talked about in an exciting way, dominating headlines and luring investors in for fear of missing out (also known as FOMO). The last few weeks have been no exception with the frenzied trading of GameStop, AMC, and Blackberry. So in this episode, I want to explain how to avoid the fear of missing out when investing.
Listen in as I explain some things to be mindful of if you plan on getting involved in the investment industry and how to find an investment accountability buddy. You will learn how to develop an investment strategy, why it’s important to start investing early, and the importance of getting back to basics by setting goals.
“From an economic/financial perspective, FOMO is a psychological phenomenon associated with loss aversion, particularly in terms of financial decision making.” - Tracey Bissett
This Week on Young Money:
- Why investing gets so much hype.
- What happened with GameStop.
- Why there has been an increase in day trading.
- How to avoid FOMO in investing.
Key takeaways:
- Get back to basics by setting goals.
- Develop an investment strategy.
- Use caution with "hot tips" and validate the source of the information.
- Start investing early.
- Mind your own business.
-
Find an investment accountability buddy.
Resources Mentioned:
-
EP033 Investing Basics
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP077 The Five Simple Rules of Financial Success with Preet Banerjee
- EP106 Milli Moves: Money & Media with Leanna Haakons
- EP158 Milli Moves: Mind Your Own Business About Money
- EP179 Milli Moves: Bitcoin – Investing or Gambling?
- Pattie Lovett-Reid: FOMO is becoming a very dangerous game
- Toronto Star: Experts Urge Caution
- Wealthsimple adds ‘risky’ label to certain stocks
- Preet Banerjee explanation of Gamestop
-
Investor Fomo VS. Intelligent Investing
Young Money Listener Contest!
February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!
Contest closes February 28th!
Not sure how to leave a review, check out the instructions here.
Socials: Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Adam H. Kol, J.D. is a Couples Financial Coach. He helps couples make sure the money conversation doesn't get in the way, leading to financial clarity, confidence, stability, and peace of mind. Today he joins the show to discuss the intersection of money and relationships, giving advice on how to approach this topic with your loved ones.
Listen in as Adam explains the importance of communication and debunks the top myths around relationships and finances. You will learn the number one mistake he thinks couples are making, how the pandemic has changed the way families are dealing with their money, and so much more.
“Money gets the best of us.” - Adam Kol
This Week on Young Money:
- Why it is okay to spend money on yourself sometimes.
- The importance of remaining mindful of your goals.
- How to align your life goals with your money goals.
- The top myths around relationships and money.
Key takeaways:
- Communication is key.
- Be mindful.
- Make a plan.
-
Engage in healthy dialogue with your partner.
Connect with Adam Kol:
-
Website
- Equal Partners Podcast
Resources Mentioned:
- How good is your relationship with money and your honey?
- EP037 Cohabitate in a Financially Fit Way
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP126 Love and Money: 3 Keys to Success
-
EP127 Sex & Money: Shining a Light on Human Trafficking
Young Money Listener Contest!
February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!
Contest closes February 28th!
Not sure how to leave a review, check out the instructions here.
Socials: Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you betting on Bitcoin? Things are uncertain right now, and 2021 will stay this way for a while, but it’s still imperative that we focus on our financial health. In this episode, I’m discussing whether Bitcoin is an investment you may want to consider—or whether it’s a gamble you’ll want to avoid.
Listen in as I share the basics of investing, speculating, and gambling, and where Bitcoin fits into this equation. I’ll also be sharing the three factors that determine whether you’re investing or speculating, and the three questions you should be asking yourself before making any kind of investment.
“Risk and return go hand in hand in investing.” - Tracey Bissett
This Week on Young Money:
- The basics of investing.
- What the riskiest investments typically are.
- The difference between investing, speculating, and gambling.
- What Bitcoin is.
- Three factors that determine investing vs. speculating.
- The three questions to ask yourself before making any kind of investment.
Key takeaways:
- Focus on your goals.
- Risk and return go hand in hand - don’t bet more than you’re willing to lose.
-
Make use of a professional, like a financial planner, to help guide you in the investing process.
Resources Mentioned:
-
EP017 Super Bowl’s Musical Talent – Justin Timberlake & Lady Gaga
- EP033 Investing Basics
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP040 Investor Spotlight Part 2
- EP067 5 Financial Lessons Learned from Maroon 5
-
EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
Young Money Listener Contest!
February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.
For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!
Contest closes February 28th!
Not sure how to leave a review, check out the instructions here.
Socials: Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Erin Lowry is on a mission to help millennials get their financial lives together. She is the author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together and Broke Millennial Takes On Investing: A Beginner's Guide to Leveling Up Your Money. Today Erin joins the show to discuss how to overcome your fear of talking about finances, so you can navigate those important money questions on your mind.
Listen in as she explains how to negotiate for what you’re worth when starting a new job or simply asking for a raise. You will learn the importance of practicing asking for what you want, how to set boundaries or expectations with your friends and family around money, and more.
“At the end of the day, oftentimes we are just afraid of how people close to us in our lives are going to judge us for the financial decisions we are—or perhaps aren’t—making.” - Erin Lowry
This Week on Young Money:
- A typical day in the life of Erin Lowry.
- Why people are so afraid to have money conversations.
- Why silence is golden.
- How to talk about finances with friends, family, and partners.
Key takeaways:
- Practice talking about money.
- Get comfortable with silence.
- Set boundaries.
-
Ask for advice.
Resources Mentioned:
-
Broke Millennial Series by Erin Lowry
- Broke Millennial Worksheets
-
EP102 Broke Millennial Takes On Investing with Erin Lowry
Connect with Erin Lowry:
-
Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
It's so important to keep an eye on your money and be aware of how you can use it to accomplish the things you want. As someone who's been an entrepreneur from a young age, I am thrilled to be able to support other entrepreneurs in growing their businesses. Understanding financial matters is a fundamental life skill, something that inspires me to find new and straightforward ways to make money make sense and increase financial confidence.
In this episode, I will be sharing a few ways we can work together in 2021, including continuing to listen to this podcast and getting your copy of the Twelve-Month Money Planner for Young Millionaires in the Making. As always, thank you for your ongoing support!
“I have always had my eye on money and how I can use it to accomplish the things I want.” - Tracey Bissett
This Week on Young Money:
- My story and how I got to where I am today.
- Where I learned the value of money.
- The importance of listening to what your customer wants.
- Why hard work is rewarded.
Key takeaways:
- Work hard.
- Understand your finances.
- Make a plan.
-
Have a money goal.
Subscribe to the Tracey Bissett - The Money Coach for Entrepreneurs Youtube Channel Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click here to register now.
Coming soon - the 12-Month Money Planner
The Ultimate Financial Freedom Workbook for Young Millionaires in the Making
This fun, comprehensive workbook will show you how to:
- Get out of student jail debt
- Invest like Millionaires
- Build your financial knowledge and confidence
and much more!
Head over to bissettbook.com to sign up to be notified when the 12- Month Money Planner is available for purchase. It will be a great way to kick-off 2021!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Joy and inspiration are always welcome, and what could be better than a spotlight episode on two of the Young Money Scholarship recipients? In this episode, post secondary students Sharaf Khan and Courtney Clayton share great financial tips for success, what their post secondary experiences have been like, and how these scholarships have impacted their lives.
Listen in as Sharaf and Courtney describe their experiences so that we can learn from what is—and isn’t—working from them. Sharaf talks about setting goals and accomplishing things that others don’t, while Courtney shares one of her big goals and important advice for other millionaires in the making.
“Leave with the least amount of debt possible.” - Courtney Clayton
This Week on Young Money:
- How scholarships have impacted the lives of these students.
- How to stay focused on your career or business.
- The importance of giving yourself downtime.
- How to stand out from the crowd when creating a business.
- How to be successful as a business person.
Key takeaways:
- Leave with little debt.
- Cut out distractions.
- Become skilled at what you’re interested in.
-
Adapt to change.
Resources Mentioned:
-
EP048 Increasing Access to Post Secondary Education with Shelley Clayton
- EP148 Celebrating the Launch of the Young Money Scholarship Fund
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students Ricardo Garcia and Janine Walters
- EP159 Milli Moves: Seeking Scholarships with Glenda Healy
-
EP169 Celebrating the Young Money Scholarship Recipients
Connect with Courtney Clayton:
-
LinkedIn
Connect with Sharaf Khan:
Coming soon - the 12-Month Money Planner
The Ultimate Financial Freedom Workbook for Young Millionaires in the Making
This fun, comprehensive workbook will show you how to:
- Get out of student jail debt
- Invest like Millionaires
- Build your financial knowledge and confidence
and much more!
Head over to bissettbook.com to sign up to be notified when the 12- Month Money Planner is available for purchase. It will be a great way to kick-off 2021!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we are speaking with Kate and Anna Healy, two sisters who grew up in the same house but may have different outlooks on the way they spend money. In this episode, Kate discusses why she has always been so adamant about saving her money and Anna shares why she made the switch from being a spender to being a saver.
Listen in as Kate explains what it has been like working in the health care sector during the pandemic and why she only ever spends the money she knows she has. You will also hear Anna describe how she learned to budget and why she feels so passionate about helping people with mental health issues.
“I want to buy the things that I know I can afford.” - Kate Healy
This Week on Young Money:
- Why you should invest your money.
- The benefits of having a TFSA.
- Why you shouldn’t be influenced by what others buy.
Key takeaways:
- Only spend what you have.
- Set goals.
- Stay strong in your money plans.
- Leverage the power of credit cards.
-
Budgeting is key.
Resources Mentioned:
-
EP159 Milli Moves: Seeking Scholarships with Glenda Healy
Connect with Kate Healy:
-
Instagram
Connect with Anna Healy:
Coming soon - the 12-Month Money Planner
The Ultimate Financial Freedom Workbook for Young Millionaires in the Making
This fun, comprehensive workbook will show you how to:
- Get out of student jail debt
- Invest like Millionaires
- Build your financial knowledge and confidence
and much more!
Head over to bissettbook.com to sign up to be notified when the 12- Month Money Planner is available for purchase. It will be a great way to kick-off 2021!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
What a year it has been! Lots of ups and downs, and certainly not an easy one. To finish the year on a high note, I will be discussing several great things that have happened within Young Money and the world. I am so very thankful for you, loyal young money listeners, our fantastic guests, and all of you who provide support to me, the show, and Bissett Financial Fitness.
Listen in as I go over the impacts of COVID-19, as well as what we can be hopeful for as we look toward 2021. You will learn the importance of taking care of yourself before others, whether credit card use has gone up or down since the beginning of the pandemic, and so much more.
“We are all in the same storm but are not in the same boat.” - Tracey Bissett
This Week on Young Money:
- Why you must remain hopeful even in times of darkness.
- The importance of finding out what your situation is and making plans accordingly.
- Why taking care of yourself first is key.
- The many ways to solve a financial panic.
- Why you need to make a savings plan.
Key takeaways:
- Make plans.
- Be kind.
- Support others.
- You are not alone.
- Health is wealth.
-
Set financial goals.
Resources Mentioned:
-
EP128 Adulting 101: How to Get Out of Debt-No Matter What Got You Into It
- EP131 Adulting 101: Why You Need a Will and Powers of Attorney with Erin Bury
- EP133 How to be Financially Fit During A GlobalPandemic
- EP135 How to Evaluate Your Financial Situation and Plan for Cash Control
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP139 Should you be Financially Selfless During a Global Pandemic?
- EP147 Building Financial ResilienceDuring Times of Crisis with Michelle Jackson
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan, Bromwich+ Smith
-
EP156 Milli Moves: How to Earn Passive Income with Rachel Richards
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kim Cooper is the president of Youth Culture Inc., a social enterprise that bridges the gaps between youth and industry. She’s passionate about sharing the stories of underrepresented youth and is part of the movement to bring equity, diversity, and inclusivity (EDI) into the STEM fields. Today Kim joins the show to discuss the importance of resilience and having the courage to pursue your big ideas.
Listen in as she describes how she is minimizing negative forces in her life (such as social media) so she can remain hopeful in her business. You will learn the benefit of being vulnerable and putting yourself out there. If you are searching for an inspiring story of hard work paying off, this is not an episode to be missed.
“In order for us all to stay relevant, we have to have that continuous learning and also be able to pivot throughout our lives.” - Kim Cooper
This Week on Young Money:
- The importance of resilience.
- Why you must remain hopeful.
- The power of being open to learning.
- Why you have to be able to pivot.
Key takeaways:
- Believe in yourself.
- Give back when you can.
- Hard work pays off.
-
Be vulnerable.
Resources Mentioned:
-
EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP002 Out of the Mouths of Young Money Masters
Connect with Kim Cooper:
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click here to register now Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we are celebrating 3 years of Young Money! Together we have created 172 episodes, are listened to in over 40 countries, and are approaching 120,000 in downloads! It is my absolute privilege to create educational and fun financial content, as well as host amazing guests to help and inspire you along your financial fitness journey.
In this episode, I interview my nephew Riley and my niece Brenley in a sibling vs. sibling episode. As you may know, children raised in the same household often have different views and behaviors when it comes to money, and these fun interviews definitely highlight what the research tells us. You'll also hear some highlights of the research after we hear the interviews.
“Sometimes children from the same household have very different thoughts around money.” - Tracey Bissett
This Week on Young Money:
- A celebration of 3 years of Young Money podcast content.
- Whether children raised in the same household usually have similar views about money.
- Which child tends to be the most driven and which the most outgoing.
Key takeaways:
- Save up your money for something you will actually use.
- Do your best in whatever you’re doing.
- Do what you’re passionate about.
-
Help others.
Resources Mentioned:
-
EP002 Out of the Mouths of Young Money Masters
Coming Soon - the 12-Month Money Planner The Ultimate Financial Freedom Workbook for Young Millionaires in the Making This fun, comprehensive workbook will show you how to: 1)Get out of student jail debt 2)Invest like Millionaires 3)Build your financial knowledge and confidence and much more! Head over to bissettbook.com to sign up to be notified when the 12-Month Money Planner is available for purchase. It will be a great way to kick-off 2021 Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we will be putting the spotlight on two of the Young Money Scholarship Fund recipients, Leeah George and Erica Morrow. These young women are amazing, and in this episode, they'll be sharing their post-secondary experiences and how the scholarship has positively impacted their lives.
Listen in as Leeah describes the importance of preparing yourself financially when pursuing education, as well as setting SMART goals and working hard to achieve them. Erica explains the importance of allowing time for yourself and being open to criticism.
“I think there are gaps that need to be filled and truths that need to come out.” - Leeah George
This Week on Young Money:
- How applying for a scholarship can benefit you.
- The importance of having confidence in yourself and not giving up.
- Why planning for your education is critical.
- How taking care of yourself can boost your work and education.
Key takeaways:
- Believe in yourself.
- Work hard.
- Set SMART goals.
- Be open to criticism.
Resources Mentioned:
- EP148 Celebrating the Launch of the Young Money Scholarship Fund
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students Ricardo Garcia and Janine Walters
- EP159 Milli Moves: Seeking Scholarships with Glenda Healy
- EP169 Celebrating the Young Money Scholarship Recipients
Connect with Leeah George:
Connect with Erica Morrow:
-
LinkedIn
Coming Soon - the 12-Month Money Planner The Ultimate Financial Freedom Workbook for Young Millionaires in the Making This fun, comprehensive workbook will show you how to: 1)Get out of student jail debt 2)Invest like Millionaires 3)Build your financial knowledge and confidence and much more! Head over to bissettbook.com to sign up to be notified when the 12-Month Money Planner is available for purchase. It will be a great way to kick-off 2021 Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Sophia Yen, M.D. MPH is the CEO and Co-Founder of Pandia Health, a birth control delivery service. With 20+ years in medicine, she is a Clinical Associate Professor at Stanford Medical School and serves on the Executive Committee of the American Academy of Pediatrics’s Section On Adolescent Health. Her passion is Women’s Reproductive Health, and today she joins the show to discuss the three non-profit projects she has co-founded to improve the lives of women.
Listen in as Sophia shares the importance of confidence and having a growth mindset. You'll learn why loving what you do and approaching your career with an “all-in” attitude is so crucial for success.
“The stupid question is the one that isn’t asked.” - Sophia Yen
This Week on Young Money:
- What pill anxiety is and how to avoid it.
- The importance of having a growth mindset.
- Why you must go into entrepreneurship wholeheartedly.
Key takeaways:
- Confidence is key.
- Ask for help when needed.
- Do something you enjoy.
- Take preventive measures.
Resources Mentioned:
- SheEO
Connect with *Sophia Yen:***
- YouTube
- TikTok
- Website
- #PeriodsOptional
- Referral code: YoungMoney. If you are in CA/FL/TX/AZ/WY, you get $5 off your telemedicine visit.
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes *Masterclass*.
Click here to register now.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
We are celebrating Financial Literacy Month in Canada, and for those who have been listening for a while, you know that I am on a mission to redefine the economic future of the world by addressing the financial literacy of young adults and entrepreneurs. While the school system does not do a good job of preparing the youth of today for the harsh economic realities they will be facing, I know firsthand the power that education can bring to achieving your life goals.
So in this episode, I will be discussing the first round of the Young Money Scholarship recipients. These talented young millionaires in the making will have some of the financial strain removed from their education. Remember, the earlier you can master your money, the faster you can achieve the things you want in your life.
“I believe that understanding financial matters is a fundamental life skill.” - Tracey Bissett
This Week on Young Money:
- Why financial literacy matters.
- The importance of education around finance.
- What I believe is a fundamental life skill.
Key takeaways:
- Understand your finances.
- Persistence is key.
- Educate yourself.
Resources Mentioned:
- Young Money Podcasts for Students
- Young Money Scholarship Fund
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
If you have been listening for a while, you know that I consider financial fitness to be a journey much like physical fitness. Financial fitness falls along a spectrum—on the far left you may be starting to learn about budgeting or saving, and on the far right of the spectrum, you may be a highly sophisticated investor. For most of us though, we are somewhere between the two in this journey together.
So today, I want to revisit some of our most popular episodes of 2020, focusing on the sound advice from Michelle Jackson on building financial resilience and Taz Rajan on how to overcome overwhelming debt. In EP156 Milli Moves: How to Earn Passive Income, Rachel Richards explained the importance of diversifying your income so you have a steady stream coming in from multiple sources. If you are looking to hear some of the best business and finance tips from our most notable guests, this is the episode for you.
“I consider financial fitness to be a journey much like physical fitness—you can be just getting off the couch to take a walk around the block or be training for a marathon.” - Tracey Bissett
This Week on Young Money:
- How to overcome overwhelming debt.
- Why diversifying your income is important.
- The importance of putting yourself out there.
Key takeaways:
- Do it and do it ugly!
- Financial fitness is a journey.
- Diversify your income.
- Take risks.
Resources Mentioned:
- EP147 Building Financial Resilience During Times of Crisis with Michelle Jackson
- EP149 Adulting 101: How to Deal with Overwhelming Debt Levels with Taz Rajan,Bromwich + Smith
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP150 The Top 3 Biz Money Mistakes to Avoid
- EP155 Business Pricing 101: How to Price Your Product or Service
- EP156 Milli Moves: How to Earn Passive Income with Rachel Richards
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kola Ifabumuyi is a mortgage planner that customizes optimal mortgage financing terms by leveraging customized financing engagements across Canada—regardless of whether its mortgage refinancing, mortgage renewal financing, or mortgage purchase financing. Today Kola joins the show to discuss his role as a mortgage broker, including his day-to-day tasks and what makes his position not only unique but ever-changing.
Listen in as Kola shares what he attributes to his success to, focusing on his work ethic and the importance of being completely transparent, as well as adaptable with your clients. If you are a first time home buyer or you have been considering working with a mortgage broker, this is the episode for you.
“We have a saying back in Nigeria saying 'no condition is permanent,' but there is one condition that is permanent, and that is change.” - Kola Ifabumuyi
This Week on Young Money:
- A day in the life of a mortgage broker.
- Why someone would want to work with a mortgage broker.
- Tips for first time home buyers.
- How to get the most out of your mortgage broker.
Key takeaways:
- Consistency is key.
- Focus on your work ethic.
- Be transparent.
- Be adaptable.
Resources Mentioned:
- Kola Ifabumuyi: Website | LinkedIn
- Philpott Children’s Tennis
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
November is officially upon us, and this month is celebrated in Canada as Financial Literacy Month, with 2020 being the 10th anniversary. You know I love to celebrate financial fitness every day, and this year more than ever, we need to celebrate!
In this episode, I want to share the 10 Things FCAC says you should know during times of financial uncertainty, including budgeting and keeping track of your spending. If you are wanting to take the next steps toward becoming financially fit, this is the episode for you.
“It is my privilege to take the mystery out of money, open up the money conversations that are hard to have, and have some fun along the way.” - Tracey Bissett
This Week on Young Money:
- How to make a budget so you can stick to a plan.
- Why it's important to borrow only what you need.
- How to understand your financial services.
- Why you should set up an emergency fund.
Key takeaways:
- Keep track of your money.
- Commit to a spending plan.
- Minimize your debt.
- Prevent financial fraud.
- Build good financial habits.
- Understand your financial products or services.
- Set aside money for unexpected expenses.
- Order your credit report.
- Have a plan to pay off your debt.
- Reassess your financial goals.
Resources Mentioned:
- Financial Literacy Month
- Budget Planner
- Financial Tools and Calculators
- 2020 Wealth Professional Awards
- EP129 Adulting 101: Equifax's Julie Kuzmic on What's a Credit Report & Should I Care?
- EP130 Show Me The Fraud - Fraud Prevention Month
- EP132 How to Protect Yourself from Fraud with Julie Kuzmic of Equifax
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP139 Should You Be Financially Selfless During a Global Pandemic?
- EP141 Mindless Spending Through the Global Pandemic
- EP143 Milli Moves: How to Stop Being Judgy
- EP146 Milli Moves: How the Global Pandemic Saved Couples & Guests from Wedding Day Debt
- EP147 Building Financial Resilience During Times of Crisis with Michelle Jackson
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As October is nearing its end, we must take these last few days to celebrate the small businesses in our community. Last week, BDC held a series of special events and kicked off the week with the release of their study, "The Response: How Entrepreneurs Are Adapting to the Pandemic."
In this episode, I will be reviewing the findings of this report, which focus on how entrepreneurs are navigating this evolving, uncertain situation. You'll learn how they are responding by implementing five business priorities to help them succeed.
“I am currently investing in technology to facilitate better systems and processes that, coupled with online sales, will stimulate growth in my business.” - Tracey Bissett
This Week on Young Money:
- How many Canadian entrepreneurs are confident that they will make it through the crisis.
- The percentage of consumers that have made more online purchases since the crisis began.
- Which SMEs plan to make changes to their business practices.
- Why it's important to keep a close eye on cash flow, including a weekly cash flow forecast.
Key takeaways:
- Keep your eyes on your cash flow.
- Adapt your management practices for teleworking.
- Choose an e-commerce strategy that suits your business model.
- Listen to your customers to plan your growth.
- Plan your technology investments.
Resources Mentioned:
BDC Study – The Response October 2020
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click *here to register now.***
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Jason Pereira is a partner and senior financial consultant with Woodgate Financial, a volunteer with the Financial Planning Standards Council, a mentor for entrepreneurs, a podcast host, a lecturer at the Schulich School of Business at York University, and—if that isn’t enough—he is also a regular contributor to The Globe and Mail. With a wealth of experience behind him, Jason is committed to the betterment of the financial industry and has been recognized both nationally and internationally with numerous awards and accolades.
Listen in as he shares how a financial planner helps you to live your best life, as well as the common mistakes he sees business owners make. You'll hear his advice for creating wealth and success in your life (hint: it’s not a quick journey, but it is worth it) and the best time for small business owners to start working with a financial planner. If you’ve been wondering whether a financial planner is something you should have in your life, this is the episode for you.
“Having the right financial planner is having someone in your life that you get to turn to that will basically ask you what it is you want out of life and help you get there.” - Jason Pereira
This Week on Young Money:
- What the 5-step process of financial planning entails.
- The best time for small business owners to begin working with a financial planner.
- What makes most business owners successful.
- Common missteps Jason sees business owners make.
- The difference between financial planning and accounting—and why it matters.
Key takeaways:
- Financial planners enable you to live your best life.
- Successful business owners act like business owners.
- Build the business you want 20 years from now.
- Don’t be afraid to pay for professionalism.
Resources Mentioned:
- Jason Pereira: Website | Facebook | LinkedIn | Twitter | YouTube
- Woodgate Financial
- The Fintech Impact Podcast
- Financial Planning for Canadian Business Owners Podcast
- FP Canada
- Institute of Advanced Financial Planners
- Financial Planning Association of Canada
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click here to register now.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Nyima Gyalmo is a passionate digital marketing specialist at Social Sherpa, a strategic digital marketing partner based out of Toronto, Ontario. She helps small businesses connect with their customers while also leveraging social media and search engine marketing.
Nyima joins me today to share the keys to her success, the entrepreneurial lessons she learned through her childhood, and what she wishes she had known sooner about finances. She also reveals why it’s important to show up for yourself, as well as other people, and what it means to become your own parent when you’re an adult—and why it’s important!
“It’s important that as we grow up, we become a parent to ourselves.” - Nyima Gyalmo
This Week on Young Money:
- What a day in the life of Nyima looks like.
- The key factors that played a role in her success.
- What she wishes she had known sooner about money and finances.
- Why it’s important to show up for others, as well as yourself.
Key takeaways:
- Persistence is key for success.
- Face your problems head-on.
- Attitude is everything.
Resources Mentioned:
- Nyima Gyalmo: Website | LinkedIn | Facebook | Instagram
- Nyima Gyalmo's: "A to Z of Social Media for Business & Marketers": https://bit.ly/2Fg0cKi
- Dave Ramsey's 7 Baby Steps
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click here to register now.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
October is now upon us and is known in Canada as Small Business Month. This year more than ever, we need to celebrate! COVID stunted so many people’s businesses, leaving the entrepreneurs behind these companies picking up the pieces. So in this episode, I want to share the secret behind what some small business owners are doing right and how you can implement this step into your business.
Listen in as I explain the importance of having a business plan to validate your idea for your product or service within the market. Remember: If you are running a business, you are strong and resilient and you should be celebrating your successes this month.
"The secret is: If you have been in business for more than 3-6 months, you know how to manage cash flow. Let me repeat that so it sinks in: If you have been in business for more than 3-6 months, you know how to manage cash flow.” - Tracey Bissett
This Week on Young Money:
- What you will have a good grasp on after 3-6 months of owning a small business.
- Why you deserve to celebrate this October if you are an entrepreneur.
Key takeaways:
- Create a business plan.
- Celebrate your wins.
- Validate your idea.
- Identify your target market.
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.
Click here to register now.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As we reach the end of September 2020, new realities are starting to set in and many of us are realizing that things are not necessarily as we want them to be. At the time of this recording, Canada is entering its second wave of the COVID-19 pandemic, case counts are climbing around the country, and pandemic fatigue is starting to set in.
What does this have to do with mindset, kindness, and your financial health? By cultivating a mindset of abundance and treating everyone—including yourself—with kindness, you will be in a much better place to weather the financial storm. That’s why in this episode, I’m giving you tangible and practical steps to hit the reset button on your finances, reminding you how to maintain a sense of calm during the second wave of COVID-19, and sharing how to cultivate a mindset of abundance and gratitude.
"An abundance mindset and kindness are key to financial fitness.” - Tracey Bissett
This Week on Young Money:
- How to financially reset in order to ride through the rest of the year.
- Why a mindset of abundance and kindness are important to your financial health.
- Actionable steps for maintaining financial calm during a pandemic.
- How to cultivate a mindset of abundance.
- What to do you if you fall off the “financial wagon.”
Key takeaways:
- Look for the positives and keep calm during these challenging times.
- You are in control—even if it doesn’t seem like it.
- Be patient with yourself and remember that kindness matters.
Resources Mentioned:
- EP062 What is your Money Mindset?
- EP133 How to be Financially Fit During A Global Pandemic
- EP157 Milli Moves: How to Reset Financially
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Maxim Cramer is the founder of MENNENIA, where she empowers female entrepreneurs to leverage technology so they can make their biggest impact yet. Repeatedly praised for her ability to turn technology into everyday English, flattening communications barriers between technical teams and visionaries, she’s taken on the audacious goal of securing a digital future for women by doubling the number of female-founded tech businesses worldwide.
Listen in as Maxim discusses the importance of trying new things and being open to alternative possibilities so you have the chance to broaden your opportunities. You will learn why she avoids using credit and only spends what she has, the benefit of having diverse streams of income, and more.
“Decide what you want your money to do for you.” - Maxim Cramer
This Week on Young Money:
- Why being open to new opportunities is important.
- The benefit of approaching things with excitement and curiosity.
- Why Maxim avoids using credit.
- Her best advice for saving money.
- The importance of deciding what you want your money to do for you.
Key takeaways:
- Get curious.
- Be open to possibilities.
- Only spend what you have.
- Have diverse streams of income.
Resources Mentioned:
- Cutting Through Tech
- How I Started The UK's Fastest Growing Company: My Gymshark Story | Ben Francis
Connect with *Maxim Cramer:***
- Website
Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business,
This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success.
If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass.
In this short, impactful training I will teach you:
- Your role as Business Owner
- The Top 3 Biz Money Mistakes &
- How to Start New Routines that will Support your Business into the Future
Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes *Masterclass*.
Click here to register now.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about money? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Glenda Healy is an educator and researcher whose goal is to help parents and students find financial aid for post secondary education. The founder of Seeking Scholarships, Glenda also published The Scholarship Report, a popular newsletter on financial aid, scholarships, and bursaries subscribed to by hundreds of schools in Ontario. Her two children have won over $65,000 in scholarships, and she joins us today to discuss how to set your scholarship applications up for success.
Listen in as Glenda shares her best advice for getting scholarships, bursaries, and government funding to ease some of the financial burdens of post secondary education. You'll learn the dos and don’ts of applying for awards, tips and tricks to maximize your chances of success, and how to leverage awards to get even more funding.
"My passion is that everybody has equal access to education.” - Glenda Healy
This Week on Young Money:
- What a day in the life of Glenda looks like as she helps guidance counselors and parents navigate external funding sources.
- What drove her to pursue this line of work and how she was able to get over $65,000 of scholarships for her children.
- Key things to include in a scholarship application to make it stand out.
- How Glenda kept everything organized when her children were applying for awards.
- The things to avoid when applying for funding.
- Why you should always apply for scholarships, even if you don’t think you’ll get them.
Key takeaways:
- Volunteerism is a critical component of successful scholarship applications.
- Leverage your awards to win even more scholarships and bursaries.
- Always apply for as much funding as you can.
Resources Mentioned:
- Glenda Healy: Website | Email | Facebook | Twitter | LinkedIn
- The Scholarship Report Handbook
- Live Virtual Workshop: Planning & Funding Post-Secondary
Young Money Scholarship Fund
Thank you to all post secondary students who applied for The Young Money Scholarship Fund. The fund was established to help post secondary students achieve their goals by removing some of the financial strain from the equation and is powered by Bissett Financial Fitness Inc.
Applications for this round have now closed and we will be announcing the recipients shortly. Don’t worry if you missed this round – this was the first round of many!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about money? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Today I am going to be discussing the importance of minding your own business about money. I have been hearing and seeing a lot of things recently that have given me pause surrounding this topic, so today I want to share my tips on how to stop inserting yourself into other people's money situations and start focusing solely on growing your bank account.
Listen in as I explain the importance of not comparing yourself to others, as more often then not, things are not what they seem. You will learn why it is important to stand behind the pricing you have created for your product or business, why looking wealthy is not the same as being wealthy, and more.
“Do you want to look wealthy or be wealthy?” - Tracey Bissett
This Week on Young Money:
- Why you can’t believe everything you see.
- The problems that come from concerning yourself with other people and their money.
- Why looking wealthy doesn’t always mean you are wealthy.
Key takeaways:
- Don’t compare yourself to others.
- Stand firm in your pricing.
- Look inward.
Resources Mentioned:
- EP012 The Financial Cost of Comparisonitis with Rachel Brownlow Lund
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- EP076 Happy Go Money with Melissa Leong
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
- EP155 Business Pricing 101: How to Price Your Product or Service
- Warren Buffet
- Power + Presence + Position podcast hosted by Eleanor Beaton
Young Money Scholarship Fund
Thank you to all post secondary students who applied for The Young Money Scholarship Fund. The fund was established to help post secondary students achieve their goals by removing some of the financial strain from the equation and is powered by Bissett Financial Fitness Inc.
Applications for this round have now closed and we will be announcing the recipients shortly. Don’t worry if you missed this round – this was the first round of many!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about money? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Given the many unexpected challenges we've faced in 2020, it would be easy to stop working toward your financial goals and try again in 2021. However, now is the perfect time to finish the year off strong and start planning for the year ahead. In this episode, I want to share the steps you can take to make informed decisions and reset financially.
Listen in as I share the important question you must ask yourself before every purchase to ensure you are being intentional with your spending and saving decisions. You will learn why you must think about your future self, instead of focusing on what will make you happy today. You are resilient and innovative, so continue on your financial fitness journey to not only survive but thrive during these last few months of 2020!
“Young Money listeners are innovative, resilient problem-solvers who seek knowledge and then take action in their lives. We have got this!” - Tracey Bissett
This Week on Young Money:
- The key question to ask yourself before every purchase.
- Why we have to make informed decisions.
- How to not let 2020 prevent us from reaching our goals.
- The importance of thinking about your future self.
Key takeaways:
- Evaluate where you are financially.
- Goal review and reset.
- Confirm or make new plans to hit goals.
Resources Mentioned:
- Power + Presence + Position podcast hosted by Eleanor Beaton
Young Money Scholarship Fund
Thank you to all post secondary students who applied for The Young Money Scholarship Fund. The fund was established to help post secondary students achieve their goals by removing some of the financial strain from the equation and is powered by Bissett Financial Fitness Inc.
Applications for this round have now closed and we will be announcing the recipients shortly. Don’t worry if you missed this round – this was the first round of many!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about money? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Have you ever wanted to walk away from your job and never look back? At the age of 27, Rachel Richards quit her job and retired. She is now living off of $15,000 a month in passive income. In this episode, Rachel shares what pushed her to get into real-estate investing and how she did so with a small amount of money.
Listen in as she explains the importance of diversifying your income so you have a steady stream coming in from multiple sources. If you want to achieve financial independence and income security, this is the episode for you.
“I use the words 'retired' and 'financially independent' interchangeably. So it’s not that I am not working, you know. I still have a purpose, I still have things I am passionate about. Right now it’s just about working when, where, and if want.” - Rachel Richards
This Week on Young Money:
- Why it is okay to say “no” sometimes.
- The importance of reading.
- How to get into real-estate with a small amount of money.
- Tips for diversifying your income.
Key takeaways:
- Choose projects that are important to you.
- Mental health comes first.
- Invest at a young age.
- Lower your interest rate.
Connect with Rachel Richards:
- Website
Resources Mentioned:
- Passive Income Starter Kit
- Money Honey by Rachel Richards
- Passive Income, Aggressive Retirement by Rachel Richards
- The War of Art by Steven Pressfield
- The Millionaire Fastlane by MJ DeMarco
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today I’m discussing what is hands down one of the things I get asked about the most: how to price your product or service. 80-85% of the clients I work with are not pricing their offering in a profitable way, which leads to losses in their company and is one of the major reasons the owners are not paying themselves consistently.
Interestingly enough, while I talk about this all the time, I haven’t yet done a show on pricing. So today’s episode comes to you courtesy of my 11 year old niece. We have spent the last few weeks together as she has also been at my parent's place in Nova Scotia so she can attend a figure skating camp. In her downtime from skating she has been making all of us beaded bracelets – some on spec and some custom.
Any business with cash flow issues is at risk of closing within 90 days, and getting your pricing right is critical to avoiding this potential catastrophe. Listen in as I share the three steps to pricing your offering in a way that not only makes sense to your business, but to your customers as well. You'll also discover why planning is so important to any business and the one crucial cost that many business owners fail to include in their pricing.
“Of the clients I work with, I would say that 80-85% of them are not pricing their offering in a profitable way.” - Tracey Bissett
This Week on Young Money:
- What variable costs are and why they’re important to not only profit but company viability.
- Why it’s critical to include the cost of your time in your pricing.
- Examples of the fixed costs you need to include in your pricing and how to allocate these across your offerings.
- The crucial step to pricing your offering once costs are calculated.
- How to price your product in comparison to other products on the market already.
- How to plan for start-up costs in a new business.
- Why planning is so important to any business start-up.
Key takeaways:
- Follow the formula to accurately price your offering.
- Know your variable costs.
- Always include the cost of your time in your pricing.
- Don't jump into a business without a solid business plan that validates your idea first.
Resources Mentioned:
- 12-Month Money Planner
- The Young Money Scholarship Fund
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
This episode is part of the Milli Moves Series, where I share tips, insights, and advice to help you continue on your financial fitness journey. Today I am going to be focusing on the people who are actually in better financial situations because of Covid and how you can evaluate your situation so you can make informed, conscious decisions about spending.
Listen in to learn how to keep track of your inflows and outflows, as well as how to put it all together so you can see if you are making surplus cash. I know we are in uncertain times, but now is the time to make financially fit decisions to better your future!
“Education has the power to help you achieve your life goals and create a financial fortress.” - Tracey Bissett
This Week on Young Money:
- The importance of keeping track of your ”inflows” and “outflows.”
- How to make a long-term financial plan.
- Advice for managing surplus cash.
Key takeaways:
- Control your spending.
- Keep track of what you earn.
- Stay focused.
Resources Mentioned:
- EP151 Milli Moves: Financial Fitness Tips from Postsecondary Podcasters Paris Grant & Ryan Banfield
- EP152 Milli Moves: Scholarship Success with Shahab Rad, Centennial College Graduate
- EP153 Milli Moves: Financial Fitness Tips from Centennial College Students Ricardo Garcia and Janine Walters
- EP148 Celebrating the Launch of the Young Money Scholarship Fund
- EP133 How to be Financially Fit During A Global Pandemic
- EP135 How to Evaluate Your Financial Situation and Plan for Cash Control
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP139 Should You Be Financially Selfless During a Global Pandemic?
- EP141 Mindless Spending Through the Global Pandemic
- EP143 Milli Moves: How to Stop Being Judgy
- EP146 Milli Moves: How the Global Pandemic Saved Couples & Guests from Wedding Day Debt
- Young Money Scholarship Fund
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we have Centennial graduates Ricardo Garcia and Janine Walters here to share their financial fitness tips. After growing up in Brazil and moving around a lot in his early years, Ricardo decided to pursue the “Canadian Dream” and is graduating with a Financial Services Degree. Janine is an experienced Funds Associate with a Bachelor’s Degree focused in Actuarial Science.
In this episode, Ricardo shares what pushed him to start a career in finance and explains his drive to help others plan for their future. Janine describes the benefits of starting something that is completely your own and being your own boss. This is a great episode for anyone planning for their long-term goals, as you will learn the importance of starting small but aiming high!
“I get great satisfaction from helping other people.” - Ricardo Garcia
This Week on Young Money:
- The importance of planning for the future.
- Why you have to believe in yourself to achieve your goals.
- The benefit of having a tax-free savings account.
- Why we need to surround ourselves with people who build us up and have the same financial goals.
Key takeaways:
- Pursue your dreams.
- Set big goals.
- Start small.
- Plan ahead.
- Invest in yourself.
Resources Mentioned:
- Young Money Scholarship Fund
- Student Podcasts
- EP042 Best of Tips for Postsecondary Education
- EP113-Milli Moves: How to Pay for Postsecondary Education Before, During and After School with Suzanne Tyson
Connect with *Janine Walters:***
Connect with *Ricardo Garcia:*
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Cash Control Bootcamp
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Today we have one of my former students, Shahab Rad, joining the show. Shahab recently graduated from the Finance Program at Centennial College with Honors. As a student, he worked in different industries including technology and educational services, and he is excited to start his career in investments.
In this episode, Shahab shares the success he has experienced through hard work and the scholarships he was awarded. Listen in to hear his hopes for his financial future, what he plans to do in the coming years, and his biggest advice for students.
“I strongly encourage all students to apply for scholarships and benefit from these funds.” - Shahab Rad
This Week on Young Money:
- The importance of attending networking events.
- How a scholarship can help you.
- The long-term benefits of receiving a scholarship.
- Why it's crucial to show up.
Key takeaways:
- Set goals.
- Network.
- Hard work pays off.
- Be you.
- Ask for help.
Resources Mentioned:
- Young Money Scholarship Fund
- Student Podcasts
- EP042 Best of Tips for Postsecondary Education
- EP113-Milli Moves: How to Pay for Postsecondary Education Before, During and After School with Suzanne Tyson
Connect with Shahab Rad:
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Paris Grant is a full-time student working in banking, as well as the host of the Millennial to Millionaire Podcast, which is dedicated to financial literacy for anyone in need. Ryan Banfield is currently a student at the University of Ottawa, pursuing a Joint Honours degree in Public Administration and Political Science. Ryan is a journalist at The Fulcrum, University of Ottawa's English language student newspaper, and the host of the CivNews podcast. Today these two inspiring young gentlemen join the show to share their financial fitness tips and advice for you as they navigate their postsecondary careers.
Listen in as Paris shares why being open, diligent, and consistent is key when planning for your future and finances. You will also learn the importance of believing in yourself and having a diverse online presence from Ryan. If you or someone you know is a young millionaire in the making, this is the episode for you.
“The amount of money you have doesn’t define you.” - Paris Grant
This Week on Young Money:
- Why taking the time to decide what you want to go to University for is crucial.
- The importance of reminding yourself of your why.
- What is actually more admirable than simply being talented.
- Why you are never too young to start learning about your retirement funds.
Key takeaways:
- Be open.
- Be consistent.
- Be diligent.
- Hard work beats talent.
- Have a diverse social media presence.
- Embrace new norms.
Resources Mentioned:
- Cash Control Bootcamp
- Student Podcasts
- Young Money Scholarship Fund
- EP002 Out of the Mouths of Young Money Masters
Connect with *Paris Grant:***
LinkedIn
Podcast
Connect with *Ryan Banfield:***
Website
LinkedIn
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Do you run your business from your bank account? Maybe you combine your business and personal expenses? If this sounds like you, you may be making some of the most commonly made mistakes in the business world. Today I will be sharing how to avoid these mistakes and how to improve your role as a business owner.
Listen in as I explain the importance of checking your finances once a month, instead of leaving it until the yearly end review. You will learn how to be responsible with your money, the importance of learning from your mistakes, and how to start new routines that will prepare your business for the future.
“You need to have access to your numbers on a monthly basis.” - Tracey Bissett
This Week on Young Money:
- The top business mistakes made by business owners.
- Why you need to keep business and personal finances separate.
- The importance of being responsible with your money.
- How to start new routines that will support your business in the future.
- Why you should be checking your finances once a month.
Key takeaways:
- Keep up to date with your finances.
- Business and personal finances must remain separate.
- Review your finances.
- Learn from your mistakes.
Resources Mentioned:
- Cash Control Bootcamp
- Student Podcasts
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
Who can apply?
- Post secondary students studying in Canada, excluding Quebec residents
- Students who have helped others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Taz Rajan has been in the finance industry for 18 years and has her Adult Educator Certificate. She is the Community Engagement Partner at Bromwich+Smith Licensed Insolvency Trustees, where she gets to share her passion for simplifying complex financial concepts for her clients. Today she joins the show to discuss the importance of building long-lasting relationships and letting your inner light shine through.
Listen in as Taz shares the changes she has seen in her business since the beginning of this pandemic, as well as how she thinks things will change moving forward. She creates an open and comfortable environment and facilitates discussion very well on a topic that is not easy to talk about. If you have experienced bankruptcy, or you are feeling alone in your financial decisions, this is the episode for you.
“The biggest success factor that really has been the newest thing for me over the last 10 years is learning to let my own light shine.” - Taz Rajan
This Week on Young Money:
- The importance of opening up the conversation around money with your family.
- How to build long-lasting relationships and trust with your clients.
- What bankruptcy truly means and how to move past it.
- The positive things that have come from this pandemic.
- Why it's key to get help for your finances.
- The biggest mistake Taz wants you to avoid.
Key takeaways:
- Teach your children about money.
- Be confident.
- You are not alone.
- There is life after bankruptcy.
- Get help when needed.
Resources Mentioned:
- Cash Control Bootcamp
- Bromwich+Smith Events
This episode is powered by the Cash Control Bootcamp:
Are you inspired about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Connect with Taz Rajan:
- Website
- Blog
- YouTube
The Young Money Scholarship Fund
Education has the power to help you achieve your life goals and create a financial fortress. It takes money from many different sources to pay for it.
The Young Money Scholarship Fund has been established to help post secondary students achieve their goals by removing some of the financial strain from the equation. This fund is powered by Bissett Financial Fitness Inc. Scholarship awards start at $250 per student.
So who is the Young Money Scholarship Fund for:
- Post secondary students studying in Canada
- Students that know it is important to help others achieve their goals
- Students who have a plan for what they will do when they graduate
Apply today or share with a post secondary student who should apply, here!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
In this episode, we are celebrating the launch of the Young Money Scholarship Fund! I’m on a mission to redefine the economic future of the world by addressing the financial literacy of young adults and entrepreneurs. Since the school systems do not do an adequate job of preparing students for the economic realities they will face, I am hoping to help young adults learn and get prepared for financial stability and success early on.
My dream has always been to contribute to help other people reach their goals, so this launch is very important to me. Tune in to learn who this fund is meant for and what you need to do to put yourself in the running.
“I know firsthand the power that education can bring to help you achieve your life’s goals.” - Tracey Bissett
This Week on Young Money:
- My vision and mission behind providing financial literacy and aid.
- Who the Young Money Scholarship Fund is for.
- The requirements for earning the scholarship.
- Why understanding finances is a fundamental life skill.
Key takeaways:
- Education is key when it comes to achieving life goals.
- It's important to make money make sense.
- Take steps to further your financial fitness.
Resources Mentioned:
- Young Money Scholarship Fund
- What Every Student Needs To Know About Money…
- Centennial College School of Business
- Cash Control Bootcamp
- 12-Month Money Planner
- Set up a financial fitness event
This episode is powered by the Cash Control Bootcamp:
Feeling inspired about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Michelle Jackson helps clients sell what they already know through her course, Make Money with Ebooks, and blog, Michelle is Money Hungry. She focuses on educating older Millennial and GenX women on financial topics related to debt-repayment, relationships, and money, as well as general personal finance content. Today Michelle joins the show to share why she enjoys empowering people to earn more money and why wanting to earn more does not make you greedy.
Listen in as she explains the importance of taking calculated risks so you can find what works for you and your business, a process she calls “doing it ugly.” You will learn how you can own a home, raise a family, and even go on vacation while still saving money. If you are wanting to change your money habits and attract more income, this is the episode for you.
“It’s 100% okay to earn more because when you earn more, you can do more and you are empowering yourself to walk away from bad situations because you have the money to do so.” - Michelle Jackson
This Week on Young Money:
- Why wanting to make more money does not make you greedy.
- How spreading yourself too thin can hinder your productivity.
- How to change the way you think about money.
- The importance of prioritizing your health while paying off your debt.
- How you can still go on vacation while saving money.
- Why it's crucial to be kind to yourself and those around you.
Key takeaways:
- Empower yourself with money.
- Focus on one thing.
- Take calculated risks.
- Set boundaries.
- Be bold.
Resources Mentioned:
- Cash Control Bootcamp
- Make Money with Ebooks Course
- Michelle is Money Hungry Podcast
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Connect with Michelle Jackson:
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Throughout this pandemic, we have all been dealing with our own unique issues. Some people have lost their businesses, some have experienced the tragedy of losing loved ones, and some have had to cancel their weddings. Love, however, was not canceled—even if the wedding was. So today I want to explain what I believe to be a silver lining of these canceled or delayed weddings and why I think this may have saved you money.
Listen in as I explain the importance of considering where you are financially before the wedding and where you want to be financially after the wedding. If you start your married life on the right foundation and plan together to accomplish your life’s goals, you can have that happy ending you are searching for.
“What I have observedduring this pandemicis that people found new ways to connect.” - Tracey Bissett
This Week on Young Money:
- Why you need to think about who is paying for your wedding.
- The importance of considering you and your partner's life goals.
- How much can you truly afford to spend?
- Why you should think about how you want to feel financially after the wedding.
- Should you and your partner be entering into a pre-nuptial arrangement?
Key takeaways:
- The importance of not passing judgment on others.
- Truly think about your financial goals.
- How to avoid wedding day debt.
Resources Mentioned:
- Cash Control Bootcamp
- EP031 True Cost of Being a Wedding Guest
- EP015 I Love My Dog Rosie but She is Expensive! Find Out the Financial Realities of Having a Beloved Pet with Ellen Wright!
- EP027 What is a Mortgage Broker with Leanne Myles
- EP037 Cohabitate in a Financially Fit Way
- EP079 Burn Your Mortgage with Sean Cooper
- EP070 RRSP Withdrawal Programs
- EP062 What is Your Money Mindset?
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
This episode is powered by the Cash Control Bootcamp:
Feeling inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Being a woman in a male-dominated field comes with its own set of challenges, but Jodi Huettner believes it shouldn’t hold someone back. The Founder and CEO of Helga Wear Inc., Jodi has a background in engineering and helps companies across industries find more safety and more money with body-specific gear for tradeswomen and women in active and outdoor STEM positions.
Listen in as Jodi shares how she turned her passion into a business and works to level the playing field for women in male-dominated industries. You will learn how Helga Wear is solving problems for both women and the companies they work for, why community is important as an entrepreneur, and so much more.
“Women are not a scaled-down version of the male body dimension.” - Jodi Huettner
This Week on Young Money:
- How Jodi’s passion led to her success.
- Why community is a big component to success.
- How mentors can make all the difference to a successful venture.
- Why it’s important to tap into resources as an entrepreneur.
- Jodi’s number one financial advice for entrepreneurs.
- What bootstrapping a business means and how to leverage it to your advantage.
- How to foster resilience as an entrepreneur.
Key takeaways:
- Be passionate about what you do.
- Take advice from those who have come before you.
- Leverage your community.
- Don’t take no for an answer.
- Hustle hard to get what you want.
- Stay resilient.
Resources Mentioned:
- SheEO
This episode is powered by the Cash Control Bootcamp:
Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here.
Connect with Jodi Huettner:
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Great customer service and developing client relationships are the cornerstones of any successful business, according to the Principal of Bold Financial, David Boldovitch. A Toronto-based financial advisory firm, Bold Financial focuses on helping business owners and professionals plan for lifelong security. Today David joins the show to discuss insurance and why it is so important when it comes to protecting your family, as well as your wealth.
Listen in as we talk in depth about several different types of insurance that you may want to consider for your family and/or your business. You will learn why it is never advisable to pay premiums with before-tax dollars, how to get affordable insurance, and more.
“When it comes to insurance policies—any kind—I would encourage people to do some homework and get educated.” - David Boldovitch
This Week on Young Money:
- The biggest misconceptions around insurance.
- The importance of critical thinking.
- How David ended up working in insurance.
- What insurance is and the purpose of it.
- The different kinds of insurance you may want to consider.
Key takeaways:
- The benefit of insurance.
- How insurance can protect your family.
- The importance of doing your homework.
- Find someone you trust.
Resources Mentioned:
- Cash Control Bootcamp
This episode is powered by the Cash Control Bootcamp:
Entrepreneurs: To start a new venture or take yours to next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here. Take back control of your business today!
Connect with David Boldovitch:
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Do you consider yourself to be judgmental? If you answered no to this question, I want to challenge you to give it another thought. Although it is a human trait to be judgmental, it certainly does not help us to look down on others. So today is a short episode about how to keep our judgment in check, so we can open our minds to new experiences and diverse groups of people.
Listen in as I share my own experiences with judgmental thoughts and how I have learned to work through them. You will learn how to move from a place of negativity to positivity and empathy. We can all be our own worst critics and no one is perfect, so it is time to start being gentle with ourselves and others.
“Be kind to yourself.” - Tracey Bissett
This Week on Young Money:
- How the dictionary describes the word “judgment.”
- How quickly perspectives can change when it’s you.
- Why we must be open to new experiences.
- The importance of understanding the root cause of your judgment.
Key takeaways:
- Notice when you are being judgmental.
- Put yourself in someone’s shoes.
- Practice gratitude and positive thinking.
- Open your mind.
- Be kind to yourself.
This episode is powered by the Cash Control Bootcamp:
Entrepreneurs: To start a new venture or take yours to next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here. Take back control of your business today!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Darlene M. Rites is a family law lawyer experienced in the resolution of all family law matters with a focus on settlement. With significant experience litigating disputes involving custody, support, property, and child abduction, Darlene applies a practical and individualized approach to all her cases and focuses her unique skills on creating positive outcomes for her family law clients.
She joins the show today to discuss what you should consider before moving in with your partner, as well as how to approach a conversation about a marriage contract. Listen in to learn why common-law relationships do not have the same rights as married spouses, the importance of open and honest conversations with your partner, and more.
“Don’t assume you know something because it happened to a friend.” - Darlene M. Rites
This Week on Young Money:
- The day-to-day life of a lawyer.
- How Darlene became so successful.
- Why she is teaching her child how to budget from a young age.
- Things to consider when moving in with your partner.
- How to approach a conversation about marriage contracts.
- The importance of open and honest conversations.
- Why common-law relationships do not have the same rights as married spouses.
Key takeaways:
- The importance of a strong work ethic.
- What simple thing Darlene credits to helping her toward success.
- Why budgeting is crucial.
- When to consider a marriage contract.
- Why we can’t assume we know something just because it happened to a friend.
Resources Mentioned:
- EP031 True Cost of Being a Wedding Guest
- EP037 Cohabitate in a Financially Fit Way
- EP080 Weddings on a Budget
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
This episode is powered by the Cash Control Bootcamp:
Entrepreneurs: To start a new venture or take yours to next level requires you to understand the cash flow cycle and how to manage the cash flow in your business. To help you learn those critical skills I have developed the Cash Control Bootcamp. The Cash Control Bootcamp is an introductory live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register today here. Take back control of your business today!
Connect with Darlene M. Rites:
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you being thoughtful with your spending, or are you mindlessly shopping on your phone or computer? With social distancing still in full force, the isolation is starting to get to many of us, and you may feel as though you are spending less because you are not going out and doing as much as before. But in this episode, I want to challenge this assumption and discuss the ways you may be overspending through this pandemic.
As an advocate of financial fitness, I want everyone and their businesses to come out of this crisis as strong as possible. Listen in as I share how you can avoid derailing your progress toward your goals by asking yourself one simple question before making any purchases. If you are prepared to start thinking of your future self instead of only thinking about what makes you happy now, this is the episode for you.
“Think about your future self and what will be best for them versus what will make you happy in the moment.” - Tracey Bissett
This Week on Young Money:
- The ways you may be mindlessly spending.
- Why it's important to think of your future self.
- Whether debt levels are growing during the pandemic.
- The simple question you need to ask yourself before every purchase.
Key takeaways:
- Why you need to think of your future self.
- How to avoid mindless spending.
- The importance of agility.
Join Tracey Bissett for the Cash Control Bootcamp:
Registration is now open for the Cash Control Bootcamp here. The Cash Control Bootcamp is an introductory live, 4 week online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future, is for you. Register here today!
Resources Mentioned:
- EP063 Money Mindfulness with Jessica Moorhouse
- EP128 Adulting 101: How to Get Out of Debt-No Matter What Got You Into It
- EP133 How to be Financially Fit During A Global Pandemic
- EP135 How to Evaluate Your Financial Situation and Plan for Cash Control
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- EP139 Should you be Financially Selfless During a Global Pandemic
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Continuing in our Real Estate 101 series, we have a Home Inspector from Toronto on the show today. Starting out her career in the 1980s, Lisa Simkins did not follow a traditional path towards her life as a young professional woman. After graduating from the University of Waterloo, when the faculty’s department was still called “Man-Environment”, Lisa worked in the fields of Mennonite country as a Land Surveyor’s assistant, then trained at Seneca College for Commercial Diving, obtaining her Canada Oil and Gas Lands Category I Diving Certificate.
In this episode, Lisa shares how her average day as a Home Inspector looks and the role a Home Inspector plays when purchasing a house. You will learn the different areas of a house to have inspected by a Home Inspector to ensure you are not buying property that has preexisting issues. If you have been considering purchasing a home but are unsure as to what you should be looking out for, this is the episode for you.
“You need a Home Inspector to understand what you’re buying.” - Lisa Simkins
This Week on Young Money:
- A typical day as a home inspector.
- Why home inspectors are important and who needs them.
- What to look for when hiring a home inspector.
- Misconceptions around home inspectors.
- The specific spaces in a house you should have looked at by a Home Inspector.
Key takeaways:
- The importance of Home Inspectors.
- Mistakes to avoid when hiring a Home Inspector.
- How to find a Home Inspector.
Resources Mentioned:
- Superior Home Inspectors
Connect with Lisa Simkins:
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
I have had many conversations with business owners and other individuals recently regarding government payments during the current global pandemic. A common theme among them has been people saying things along the lines of, "I’m not so bad off. I’ll be okay, and I’ll let other people or businesses get the money instead." Hearing this mindset come up again and again really made me wonder: Should you be financially selfless during a global pandemic?
In this quick episode, I want to share with you why I believe that if you are struggling financially throughout these unprecedented times, then you should absolutely not refrain from applying for government support. Listen in as I explain my simple answer to this common question—and if you qualify, please apply!
“If you are struggling financially, it makes the decision very easy and people will—and should—apply” - Tracey Bissett
This Week on Young Money:
- How to survive and thrive during this pandemic.
- Whether you should be financially selfless during this time.
- How to join a complimentary webinar hosted by me.
Key takeaway:
- If you qualify—apply!
Resources Mentioned:
- EP128 Adulting 101: How to Get Out of Debt-No Matter What Got You Into It
- EP133 How to be Financially Fit During A Global Pandemic
- EP135 How to Evaluate Your Financial Situation and Plan for Cash Control
- EP137 How to Manage & Negotiate With Creditors (People You Owe Money)
- Cash Control
Connect with Tracey Bissett:
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Alexandra Cote is a motivated realtor with an impressive work ethic, committed to reaching her clients’ real estate goals. Voted Best Real Estate Agent in Toronto for the last 4 years by the NOW Reader's Choice Awards, Alexandra is a consistent top producer in her industry. She joins the show today to discuss what we can expect to see in real estate as we power through these challenging and tumultuous times.
In this episode, we discuss the changes real estate will see in the coming years, as well as the importance of consulting a realtor when purchasing or renting your first home. Listen in to learn which professionals you should include in your home buying transaction, the common expenses you may be unaware of in the home buying process, and more.
“What I want is for that client, a year down the road, to be happy with the decision.” - Alexandra Cote
This Week on Young Money:
- What we can expect to see in the real estate market coming out of these uncertain times
- How real estate is still moving forward through social distancing
- The importance of consulting a realtor when making your first home transaction
- Which professionals you should include in every home buying transaction
- The common expenses to be aware of in the home buying process
- Why it is not a good idea to try and purchase a home without a realtor
- Common misconceptions to avoid
Key takeaways:
- The role a realtor plays in home buying
- How to decide which property is right for you
- The importance of a real estate lawyer, home inspector, and mortgage broker
- How to budget properly for a home
- How to overcome the fear of home buying
Resources Mentioned:
- Parkdale Community Food Bank
Connect with Alexandra Cote:
- Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
During these unusual times, you may find that you are working more, less or not working at all. Because of this, your money situation may be at the forefront of your mind, and you are likely considering how you can save money and keep control of your budget. You may realize that you cannot afford to pay for everything that you are signed up for, so reducing expenses will be essential. You could, for example, consider lowering your auto insurance premiums because you are now working or studying from home. But, how do you go about negotiating with creditors about a reduction?
Today, I share a short, practical training on how to manage and negotiate with your creditors. I reveal the best way to approach the people you owe money to and how to structure your conversation. I share how contacting your creditors over the phone and the internet differs. I also highlight why it is vital to get any agreement in writing and check the implications to your credit score and overall cost of the debt.
“Being proactive and honest with creditors and trying to make a plan is being responsible.” - Tracey Bissett
This Week on Young Money:
- How to make a list of the people you owe money to
- Sorting your creditors into an order, starting with those that have the most significant impact on your cash flow
- Preparing your mindset and recognizing your motives before contacting creditors
- How to research and inform yourself about the options available, including contacting a professional and visiting creditor websites
- The online route versus the telephone route of speaking to the people you owe
- Why you shouldn't stop your momentum after your first success
- Why you must check for any implications linked to your negotiations, including your credit score and total cost of borrowing
Three steps to managing and negotiating with creditors:
- Make a list of all creditors (people you owe money)
- Make the actual approach
- Get it in writing and other details
Resources Mentioned:
- EP115: Shmoney Guide with Olga Kirshenbaum
- EP133 How to be Financially Fit During A Global Pandemic
- EP135 How to Evaluate Your Financial Situation and Plan for Cash Control
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Sanjana Kapur Bansal is the founder of Dream Energy Solutions, an independent energy broker that helps Ontario businesses make better energy decisions and lower their gas and electric spend. She is a certified business energy professional and licensed energy broker in the province of Ontario. Sanjana is an entrepreneur who is passionate about education and empowerment. She holds a Bachelor of Business Administration in International Business and Marketing from Stephen F. Austin State University and a Master's in Business Administration from the University of Texas at Tyler.
Sanjana joins me today to discuss the power of possibility and how to create your path to success. She reveals the traits that led to her success, including embracing challenges, learning from mistakes, working hard, and doing the research. Sanjana shares how questioning her parents about budgeting helped her develop the right mindset for running a business. She also stresses the importance of networking without trying to sell and building a community and tribe that you can trust.
“Being an entrepreneur isn't just about following what you are passionate about but also being careful about the money aspect.” - Sanjana Kapur Bansal
This Week on Young Money:
- Embracing challenges, change, and education to find success
- What it’s like being an entrepreneur
- Growing up and learning about budgeting and financial planning
- Seeing all business expenditure in terms of investment and return
- Doing your due diligence, researching the market, and following your passion
- The importance of networking, creating a community, and a tribe you can trust
- How to network the right way
- Why trying to sell is not the right approach to networking
- The power of learning from mistakes
Key takeaways:
- Focus on budgeting
- Be unique
- Network
- Learn from your mistakes
Connect with Sanjana Kapur Bansal:
- Dream Energy Solutions
- Sanjana Kapur Bansal on LinkedIn
- Dream Energy Solutions on Facebook
- Dream Energy Solutions on Instagram
- Dream Energy Solutions on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As we continue to face these unprecedented times with the spread of COVID-19, it’s natural to feel sad, worried, and anxious about what each new day will bring and what your future will hold once the pandemic is over. Whether you’re a student with seminars or classes suddenly cancelled, or a business owner who has been told to close your doors for the foreseeable future, these are uncertain times for everyone. And while we know this won’t last forever, the initial shock of our short-term reality is starting to wear off and we’re beginning to settle into our ‘new norm.’ Everyone’s financial situations are different, so it is vital to take stock of where you are and make adjustments where needed to remain financially fit.
Today, I share how to evaluate your financial situation and plan for cash control. I share the steps you need to take to evaluate your current financial situation and how to use your numbers to calculate your cash surplus or deficit. I reveal the ways that you can increase the inflow of your finances and the options that may be available to reduce your outflows, such as deferrals, cancellations, and interest rate reductions. I also share where you can find and apply for financial assistance packages from the government.
“It is really important to focus on the reality and not worry about what might be the worst-case scenario.” - Tracey Bissett
This Week on Young Money:
- Assessing your financial inflows from part-time or full-time employment and adjusting your expectations to account for wage fluctuations
- Assessing your financial outflows including accommodation costs, utilities, loans, insurance, cell phones, and groceries
- How to double-check your outflows using your online bank and credit card statements
- How to reduce your financial outflows during a prolonged period at home
- How to calculate your numbers to determine your cash shortfall or surplus
- Finding income opportunities to boost your cash flow
- Where to apply for government instituted assistance packages
- The financial outflows that may be eligible for deferral
Four steps to evaluate your financial situation:
- Inflows: How much money is coming in
- Outflows: How much money is going out
- Put it all together
- Make a plan for cash control
Resources Mentioned:
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP069 How to be Financially Resilient with Jackie Porter
- EP081 Credit Canada Debt Solutions with Laurie Campbell
- EP128 Adulting 101: How to Get Out of Debt – No Matter What Got You Into It
- EP133 How to be Financially Fit During A Global Pandemic
- Canadian Government Financial Assistance
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Nunzio Presta is the CEO and founder of BizON, an online marketplace where thousands of people sell, buy, and grow business and franchises. Nunzio is a former professional hockey player and entrepreneur with extensive experience in identifying funding and building businesses. He is a mentor to small business owners and entrepreneurs, sharing his skills in leadership, marketing, product development, and strategy. Nunzio contributes to the digital resource, Thrive Global, sits on the board of directors for multiple startups, and is part of Startup Canada’s Entrepreneur Success Advisory Council.
Nunzio joins me today to share how to start, buy, and sell businesses. He shares how BizON helps people find existing companies and get into ownership. He reveals the mindset and skills that successful business owners possess along with tips and considerations for starting a business. He discusses what to look for when assessing a business and the importance of doing your due diligence. Nunzio also shares common missteps to avoid when starting or acquiring a business.
“You don't have to start a business to own one. You can find an established business today that gives you purpose.” - Nunzio Presta
This Week on Young Money:
- Starting a marketplace and community where small businesses owners can list their business
- Getting into business ownership
- Traits of successful business owners including reliability, focus, curiosity, and energy
- The things Nunzio wished he knew earlier in his entrepreneurial journey
- Tips for starting a business and the importance of a good team
- What to look for when buying a business including self-sufficiency, timing and trends, and the business model
- Using professionals to do your due diligence
- Missteps to avoid in the startup and business space
Key takeaways:
- Think about success as a journey
- Start with the right motivation
- Validate your idea
- Look at things through the lens of social, economic, and tech trends
- Be patient and think about the future
- Do your due diligence
Resources Mentioned:
- EP020 Business Financing Tips with Sharon Connolly, VP at BDC
- EP121 BDCs Sharon Connolly on Young Entrepreneurs & Newcomers to Canada
Connect with Nunzio Presta:
- BizON
- BizON blog
- Nunzio Presta on Twitter
- Nunzio Presta on Facebook
- Nunzio Presta on LinkedIn
- BizON on LinkedIn
- BizON on Instagram
- BizON on Twitter
- BizON on Facebook
- BizON on YouTube
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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The COVID-19 virus has seen markets go into freefall in response to the crisis, the impact, and the implications of social distancing. You may have been asked to stay home from work and are experiencing a loss of wages. Perhaps you’re a small business that is suffering or a student adapting to learning from home. In this time of global economic uncertainty, it’s normal to have feelings of anxiety and panic from watching the news and stressing over how or when this crisis will end.
But, now is the time that we need to control our actions and our reactions to what is happening.
Today, I share how you can stay financially fit during a global pandemic. I share three tips for surviving this crisis, starting with staying calm and not making decisions based on your emotions. I discuss how you can assess your situation and the importance of acting now to get the assistance available, including the help offered by the government. I also share why it is helpful to talk to a financial advisor and stress the importance of communicating with those that you have financial ties with.
“Historically, individuals who regularly invest in a diversified portfolio and stay invested for the long term have typically benefitted.” - Tracey Bissett
This Week on Young Money:
- Remaining calm, knowing where you are, and recognizing that you are not alone
- Why you should not let emotions drive your investment buying and selling decisions
- Assessing your situation before deciding how to proceed
- Applying for government assistance packages
- Consulting professionals, financial planners, and advisors to understand your risk tolerance
- Communicating with those you are financially tied to
Key takeaways:
- Remain calm
- Assess the situation
- Consult a professional
- Communicate
Resources Mentioned:
- EP032 David Jenkins on Investing with TheAnswerIs
- EP033 Investing Basics
- EP038 Investor Spotlight Part 1
- EP040 Investor Spotlight Part 2
- EP069 How to be Financially Resilient with Jackie Porter
- EP128 Adulting 101: How to Get Out of Debt – No Matter What Got You Into It
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Julie Kuzmic is the Director of Consumer Advocacy at Equifax Canada. She is passionate about financial literacy and is a recognized authority on consumer credit. She often speaks on the credit lifecycle to consumers, clients, government, and industry groups and she is always testing out new metaphors to describe the nuances of credit scores.
Julie joins me today to share how to protect yourself from fraud and how fraudsters can obtain your personal details and use it to apply for credit in your name. She reveals how many times you can check your credit report each year as a proactive fraud prevention step, why it’s vital to inform credit agencies if you fall victim to identity theft and the protective measures and alerts you can activate to authenticate credit requests in your name. Julie also discusses the pros and cons of using your passwords online over open Wi-Fi networks and with third parties.
“It is important to let both credit bureaus know if you are a victim of fraud.” - Julie Kuzmic
This Week on Young Money:
- How fraudsters can use your identity and data to apply for credit in your name
- Checking your credit file for free to proactively check for fraud and identity theft
- How to put a warning and alert on your credit file if you have been a victim of a data breach
- Preventing fraud with a free “Identity Warning” from Equifax
- Fraud prevention tips and measures
- The vulnerabilities of open Wi-Fi networks
- The pros and cons of open banking services
- Liability negating clauses introduced by banks when you share your username and password with third-parties
Key takeaways:
- Protect yourself by keeping an eye on your credit report
- Set an alert if you fall victim to identity fraud
- Be wary of sharing your passwords
Resources Mentioned:
- EP129 Adulting 101: Equifax's Julie Kuzmic on What's a Credit Report & Should I Care?
Connect with Julie Kuzmic:
- Julie Kuzmic on LinkedIn
- Equifax Canada on LinkedIn
- Equifax Canada
- Equifax Canada on Twitter
- Julie Kuzmic on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
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Erin Bury is the co-founder and CEO of Willful, an organization that allows Canadians to create a will online in less than 20 minutes. Before founding the online estate planning platform, Erin held leadership roles in Eighty-Eight, BetaKit, and Sprouter. She is one of Marketing Magazine’s Top 30 Under 30 and is a frequent speaker with Speakers’ Spotlight. Erin has appeared in publications such as CNN, Forbes, and The New York Times. She is a technology commentator on CTV News and writes a column for the Financial Post.
Erin joins me today to share why you need a will and a powers of attorney. Erin highlights the traits she believes lead to success and the importance of focusing on networking and your personal brand. She reveals why it is vital to make a will and assign a powers of attorney and why you should create a document of your intentions, including intentions for your digital footprint and pets. Erin also shares why being young is the best time to take risks with your career and finances.
“If you pass away without a will, the government has a series of rules that govern how they distribute your stuff and it probably wouldn’t match what you want.” - Erin Bury
This Week on Young Money:
- Erin's passion for entrepreneurship and creating Willful
- Why you should focus on personal branding and networking to find success
- What estate planning is and why it is important
- The role of powers of attorney when you can’t make decisions for yourself
- How a will governs what happens once you pass away
- Why you should have a will and why anyone over 18 should have powers of attorney
- Creating a Google Doc to state your intentions for your digital footprint
- Keeping your will updated
- Why being young is the best time to take a career or financial risk
Key takeaways:
- Create an ‘If I die’ document
- Make sure you write down specific requests
- Estate planning isn’t off the table because you are young
- Have a conversation with those that you appoint as your power of attorney and executor
Resources Mentioned:
- Tom Hanks Golden Globes speech
Connect with Erin Bury:
- Willful
- Willful on Facebook
- Willful on Twitter
- Willful on Instagram
- Erin Bury on Twitter
- Erin Bury on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Young and old people alike need to consider how to protect themselves from fraud and prevent identity theft. Fraud can be initiated in several ways, including by telephone, email, text message, and online as well as through social networks, postal mail, or in-person. There are a few steps you can take to make it more difficult for criminals to hack or obtain your information. When you take appropriate measures and make yourself a harder target, you discourage the attention of criminals.
Today, in honor of Fraud Prevention Month, I share how you can reduce your risk of fraud and identity theft. I share the risks linked to our online activities and how fraudsters can take control of your cellphone and your credit. I highlight tips on preventing fraud, including when to be cautious about sharing your information. I also share the details of the organizations you should contact if you lose your phone, wallet, or suspect you are being targeted by criminals.
“You need to take good care of your personal information, whether it's electronic or on paper.” - Tracey Bissett
This Week on Young Money:
- Identity theft risks associated with our reliance on phones and online accounts
- How fraudsters can take control of your cellphone number
- Protecting your online information with strong passwords
- Securing and restricting access to physical information
- What cellphone port protection is
- Organizations you should report fraud to
- Using caution when disclosing personal information, using unsecured public networks, and responding to suspicious messages
Resources Mentioned:
- Fraud Prevention Centre
- Canadian Anti-Fraud Centre
- Government of Canada: Protection from frauds and scams
- Equifax Canada
- Transunion
- EP023 How to Protect Yourself from Fraud
- EP074 How to Protect Your Business from Fraud
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can protect yourself from fraud and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Julie Kuzmic is the Director of Consumer Advocacy at Equifax Canada, a credit scoring and reporting organization. Julie is recognized as an authority on consumer credit and is passionate about financial literacy and creating metaphors to explain the nuances of credit scores. She is a speaker on the topic of credit lifecycle, speaking to consumers, clients, and industry groups.
Julie joins me today to share what a credit report is and why you should care about yours. She shares how credit information is collected and used and reveals which credit inquiries affect your score. Julie also shares the most important things you can do to improve your credit score and explains why having no credit history can be a problem when you apply for significant credit, such as a mortgage.
“Nobody is perfect. We all make mistakes - and that includes with our money and financial decisions.” - Julie Kuzmic
This Week on Young Money:
- How Equifax collects credit information to create your credit report and score
- How a genuine curiosity, taking a human approach, and tailoring the message has helped Julie find career success
- How small steps can help you move towards where you want to go
- The differences between soft inquiries and hard inquiries and how they impact your credit score
- The monthly information collected by credit bureaus
- The three-digit range of credit score numbers
- Why paying your bills on time is the most significant factor in calculating your credit score
- Why the number of times you apply for credit affects your score
- How no credit history can negatively impact your credit score
- How to build up your credit score
Key takeaways:
- Your sources of credit affect your credit score
- You can rebuild your credit score
- You can have modest debt, live within your means, and have a good credit score
- Do not base your self-worth on your net worth
Resources Mentioned:
- EP111 Milli Moves: Talk Money To Me with Kelley Keehn
- EP081 Credit Canada Debt Solutions with Laurie Campbell
- EP056 Back to Basics – The 5Cs of Credit
- EP007 How’s Your Financial Reputation aka Your Credit Score?
Connect with Julie Kuzmic:
- Julie Kuzmic on LinkedIn
- Equifax on LinkedIn
- Equifax Canada
- Equifax on Twitter
- Julie Kuzmic on Twitter
Get Your Young Money Questions ANSWERED!
Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
There are many different ways to get into debt and many factors cause debt to accumulate. Perhaps you find it all too easy to use your debit or credit card to make purchases with money that you have yet to earn. Funding your education is a common source of student debt and payday loans are another example. Debt can also be the result of being coerced into accessing it like in the case of sex trafficking or using your good credit to cosign or guarantee for a loan. You can also acquire debt through no fault of your own such as becoming a victim of fraud, losing your job, getting sick, or going through a divorce.
Today, I share strategies to get out of debt, no matter what got you into it. I discuss how to begin by creating a debt list and a budget to assess the funds you have available each month to repay your debt. I describe three debt repayment strategies that take different approaches, giving you a choice that aligns with your mindset and goals. I highlight when to seek professional help and the types of professionals that you can turn to. I also share why you should not be too hard on yourself and should expect a few ups and downs along your debt repayment journey.
“Be kind to yourself throughout the debt repayment process. You will have ups and downs, and that is perfectly natural.” - Tracey Bissett
This Week on Young Money:
- Making a list of debts to assess the situation
- Reducing anxiety by confiding in someone you trust
- Creating a budget to determine what is available for debt repayment
- Three strategies to pay down your debt
- When to seek professional help from a credit counsellor or licensed insolvency trustee
- Being comfortable with the natural ups and downs of debt repayment
The four steps to get you out of debt:
- Assess the complete situation
- Talk to someone you trust
- Make a plan, including a budget and debt repayment strategy
- Be kind to yourself
Resources Mentioned:
- EP005 Biggest mistakes made when educating young adults about student debt
- EP023 How to Protect Yourself from Fraud
- EP037 Cohabitate in a Financially Fit Way
- EP044 Dangers of Payday Loans
- EP049 5 Questions to Answer Before Getting a Credit Card
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP127 Sex & Money: Shining a Light on Human Trafficking
- Hoyes Michalos Bankruptcy Study
Get Your Young Money Questions ANSWERED!
Want to learn more about ways to get out of debt and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Rhonelle Bruder is an internationally recognized motivational speaker and a human rights advocate. She is the founder of the RISE Initiative, a community and platform dedicated to supporting, empowering, and inspiring vulnerable youth and trauma survivors. As a survivor of human trafficking, Rhonelle frequently speaks and writes on topics about overcoming adversity, building resilience, human rights, social equity, and mental health. She has been featured in several media publications, including CBC, Global News, The Agenda, and Toronto Star. In 2019, Rhonelle was awarded one of Canada’s Top 100 Black Women to Watch.
Ashley Franssen-Tingley is the Stakeholder Relations and Promotions Advisor at The Canadian Centre to End Human Trafficking, a national charity that aims to end all forms of human trafficking in Canada. Ashley is passionate about enhancing cross-sector collaborations to dismantle siloes, support partnerships, and develop anti-trafficking strategies with Canadian law enforcement agencies. Ashley has completed the International Visitor Leadership Program in Trafficking in Persons and holds a Bachelor of Arts degree with Honors in Psychology from York University.
Rhonelle and Ashley join me today to shine a light on human trafficking, in honor of Human Trafficking Awareness Day on February 22, 2020. Rhonelle shares the three areas covered under the human trafficking term and describes the targets and tactics that sex traffickers use on young women. Ashley shares the current situation of sex trafficking in Canada, the differences between human trafficking and human smuggling, and explains what coercive debt is. She also highlights the behavioral cues to watch for and how you can get involved in tackling this issue. We also discuss how you can help end human trafficking and where to find support and resources.
“Lead with kindness, empathy, and compassion.” - Rhonelle Bruder
This Week on Young Money:
- What the umbrella-term of human trafficking covers
- Misconceptions of sex trafficking and who is vulnerable in Canada
- How traffickers target young women and the tactics they use
- The signs and indicators of human trafficking
- How to approach and help a vulnerable person
- Where to find resources and support
- The current situation of trafficking in Canada
- How sex trafficking is hiding in plain sight
- The differences between human smuggling and human trafficking
- What coercive debt is
- Behavioral clues to watch for
- The elevated risks to young Canadians
- How you can help end human trafficking
Key takeaways:
- Increase your awareness
- Get rid of misconceptions
- Get involved
Connect with Rhonelle Bruder:
- Rhonelle Bruder’s website
- Rhonelle Bruder on Facebook
- Rhonelle Bruder on Twitter
- Rhonelle Bruder on Instagram
- Rhonelle Bruder on LinkedIn
Connect with Ashley Franssen-Tingley:
- The Canadian Centre to End Human Trafficking
- Canadian Human Trafficking Hotline
- Canadian Human Trafficking Hotline Phone: 1-833-900-1010
- Project Recover
- The Canadian Centre to End Human Trafficking on Facebook
- The Canadian Centre to End Human Trafficking on Twitter
- The Canadian Centre to End Human Trafficking on LinkedIn
- Ashley Franssen-Tingley on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Love and money play a prominent role in your life, and to find happiness and security, you will need to know how to integrate them in your life. Relationships can be complicated when money is involved. This is true not only for romantic relationships but any relationship you have, including those with family and friends. If you are in debt or saving for a goal, you will find your path by recognizing the keys to success.
Today, I share three keys to success in love and money. I share why communication is a vital component to easing your financial fears, setting goals, and achieving your dreams. I highlight how to avoid money misunderstandings and the value of support and problem-solving together. I share how keeping secrets and not telling the truth will only lead to further stress and anxiety and encourage you to find support and assistance through financial professionals.
“It becomes infinitely easier to solve problems when you have the support of the most important people in your life.” - Tracey Bissett
This Week on Young Money:
- Why it is important to communicate your financial feelings, goals, fears, and plans
- Avoiding financial misunderstandings
- The value of problem-solving together and finding support
- The importance of telling the truth and avoiding keeping secrets
- Why you should consider consulting with professionals for financial assistance
The 3 keys to success:
- Communicate
- Problem-solve together
- Tell the truth
Resources Mentioned:
- 12-Month Money Planner - Coming Soon - Spring 2020
- EP037 Cohabitate in a Financially Fit Way
- EP086 Are your financial demands hurting your family?
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP103 Are you a financial bully?
- EP123 3 Financial Fitness Lessons from Jennifer Lopez and Shakira
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Richard Moxley is the founder of The Credit Game, an organization helping Canadians improve and fix their credit scores. He is a best-selling author and recently published The Credit Game: Rules Every Canadian Must Know to Win. He began his career as a mortgage agent before transitioning to help people get out of debt. Richard is a sought-after professional speaker and has been featured in The Globe and Mail, CTV, Global TV, and CBC Market Report. He was the Financial Literacy Leader of the Year in 2015 and 2016 and studied finance and economics at Mount Royal University.
Richard joins me today to explain how you can win at the credit game - and have some fun along the way. He shares the basis for his recent book and highlights why it is vital to continue to learn about your finances. Richard shares why you should take responsibility for your credit report and how you can get a free copy of your credit file. He highlights the factors that affect your credit score, who might use your credit score, and why your score may fluctuate or change quickly.
“The credit score itself is just a by-product of what is happening on your credit report.” - Richard Moxley
This Week on Young Money:
- The inspiration for writing The Credit Game
- Putting a focus on the action steps to take to always have good credit
- Why continued learning about finance is vital
- How Equifax and TransUnion create credit scores
- Why you should take responsibility and check your credit file
- How to get your credit report
- How active credit, credit limits, and keeping a balance/debt affect your score
- Who uses your credit report, including those you wouldn’t expect
- Why your credit score fluctuates or changes quickly
Key takeaways:
- Your credit score is just a by-product of what's happening on your credit report
- Try not to focus only on the number
- It is important to fix any errors on your credit report
- Know that it is your responsibility
- Your credit score moves and changes
Resources Mentioned:
- Equifax
- TransUnion
Connect with Richard Moxley:
- The Credit Game
- The Credit Game: Rules Every Canadian Must Know To Win
- The Credit Game on Facebook
- The Credit Game on Instagram
- The Credit Game on Twitter
- The Credit Game on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Ellen Roseman is a Consumer Advocacy and Personal Finance journalist who is passionate about standing up for ordinary Canadians and being a champion for consumers to fight back against consumer injustices. As a public speaker and author, she has presented keynote speeches and written multiple books on consumer injustice topics. Her latest book, Fight Back: 81 Ways to Help You Save Money and Protect Yourself from Corporate Trickery, shares money-saving tips and advice from leading consumer advocates in Canada. Additionally, Ellen is the co-chair of the investor advocacy group, FAIR Canada, and the co-host of the monthly Moneysaver podcast. She regularly teaches courses on personal finance and investing at the University of Toronto, School of Continuing Studies.
Ellen joins me today to share how to stick up for your consumer rights and leverage loyalty to negotiate better deals. She highlights the advantages of joining investing communities and clubs as well as resources for improving your financial acumen. She explains how to use social media to fight for your rights as a consumer and the difference amongst various investments. Ellen shares opportunities for young people to start investing and why she believes exchange-traded funds (ETFs) and robo-advisors are one of the best ways to start investing.
“Consider every transaction as a negotiation transaction using your own loyalty.” - Ellen Roseman
This Week on Young Money:
- Investor communities on social media
- The advantages of low-cost investing
- The benefits of being a career specialist over a generalist
- How to use social media to fight for your consumer rights
- Why ETFs and robo-advisors are a great way to start investing
- The secret to creating wealth and dividend reinvestment (DRIP)
- Tips for consumers to save money through negotiating a better deal
- Financial tips for future entrepreneurs
- Why regular talks about money with your spouse are vital
- Why you should join or create a money-advice club
Key takeaways:
- Build up your investment knowledge
- Be a smart consumer and save money
- Don't be scared of money and open communication lines
Resources Mentioned:
- EP032 David Jenkins on Investing with TheAnswerIs
- EP076 Happy Go Money with Melissa Leong
- EP087 Canadian MoneySaver with Lana Sanichar
Connect with Ellen Roseman:
- Ellen Roseman’s website
- Email: ellen@ellenroseman.com
- Ellen Roseman on LinkedIn
- Ellen Roseman on Twitter
- Ellen Roseman on Instagram
- Ellen Roseman on Facebook
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Young adults, young professionals, and students often find it hard to manage their finances, especially when they are doing it for the first time in their lives. The choices made now can have a long-term effect on their financial fitness, which will ultimately impact other parts of their lives. Whether you love their live shows and music or not, Jennifer Lopez and Shakira - the two star attractions of the Halftime show at Superbowl 54 - have many great lessons to teach young millionaires-in-the-making on finding financial and career success.
Today, I share three financial fitness lessons I have learned from Jennifer Lopez and Shakira. I share how persistence, hard work, and long-term approaches helped Shakira and JLO ride out their failures and find success. I share how you can put small steps in place to reduce your debt and start saving. I highlight the need for you to be accountable for your finances and financial management. I also share why you need to set financial goals and put a plan in place to ensure you achieve them.
“Small, steady positive actions related to savings or debt reduction ultimately lead us to financial success.” - Tracey Bissett
This Week on Young Money:
- Quick facts on Jennifer Lopez and Shakira
- The big failures and the big successes experienced by JLO and Shakira
- Using hard work, persistence, and a long-term approach to find success
- Using small, positive actions to reduce debt and increase your savings
- Being accountable and taking an active role in your financial life
- Preparing for Canadian tax time
- The powerful messages of positivity and inclusion from JLO and Shakira
- Taking time to set goals and plans to achieve them
Three financial fitness lessons:
- There are no shortcuts
- Be accountable
- The sky is the limit
Resources Mentioned:
- EP017 Super Bowl’s Musical Talent – Justin Timberlake & Lady Gaga
- EP067 5 Financial Lessons Learned from Maroon 5
- EP090 3 Financial Fitness Lessons from Rihanna & Jay-Z
- EP101 How to Take Control of Your Financial Future like Taylor Swift
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Chris Wilkins is the founder and CEO of School Finder Group, an organization that helps students decide where to go to school, what they want to do when they graduate, and how to pay for it. Chris is an expert in media, digital, and tech and works closely with the SchoolFinder Group team, clients, and partners. He is active outside of work and loves to explore Toronto, travel, read, and stay active. He has an MBA from London Business School and a BA in History from York University, Glendon College.
Chris joins me today to share how to prepare for accessible post-secondary education. He reveals the resources available to students and how longer life expectancies make it more likely that you will work in several careers. He shares how to approach conversations around educational choices with your family. He also shares the options and availability of scholarships for first and subsequent degrees.
“As a 17 or 18-year-old, you want to be doing whatever you are doing for yourself.” - Chris Wilkins
This Week on Young Money:
- How SchoolFinder, ScholarshipsCanada, and StudyinCanada help students with educational and career choices
- When students should start planning for post secondary education
- How longer life expectancies set the stage for multiple careers
- How to manage family discussions on educational decisions
- Financial success strategies
- How to find and apply for scholarships
- Scholarships for bachelor, subsequent and master degrees
- Non-academic based scholarships
Key takeaways:
- Make your own decisions but include family.
- Focus on your passion.
- Be prepared.
- Scholarships are not just for first-year students.
Resources Mentioned:
- EP048 Increasing Access to Post Secondary Education with Shelley Clayton
- EP104 AI Career Transitions with Brian Lenahan
- EP113 Milli Moves: How to Pay for Postsecondary Education Before, During and After School with Suzanne Tyson
Connect with Chris Wilkins:
- SchoolFinder Group
- SchoolFinder
- ScholarshipsCanada
- StudyinCanada
- Chris Wilkins on LinkedIn
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Sharon Connolly is the Vice President of the Newcomer Entrepreneur Success Team (NEST) at Business Development Bank of Canada (BDC), a bank that is solely devoted to entrepreneurs. She is passionate about leading teams to offer the best solutions to clients and has worked in the real estate financing and commercial lending sector for more than 20 years. As the NEST team leader, she helps newcomer entrepreneurs to overcome systemic barriers and accelerate their businesses. Sharon holds a BBA from the University of Prince Edward Island and an MBA from the Schulich School of Business at York University.
Sharon joins me today to share how young entrepreneurs and newcomers are becoming prevalent in the face of entrepreneurship in Canada. She highlights how BDC supports entrepreneurs with resources and advice. She reveals the ways entrepreneurs can relieve stress and build their skill sets. Sharon also shares two elements that are fundamental to finding success and the support available for women entrepreneurs.
“The key for entrepreneurs is to work through their stresses by talking to somebody or finding an outlet.” - Sharon Connolly
This Week on Young Money:
- BDC's offers of term debt financing solutions, advisory services, and access to non-traditional financing
- How entrepreneurship is on the rise and the stressors facing entrepreneurs
- Four groups that are starting businesses at a higher rate than ever before
- Three ways entrepreneurs can relieve their stress
- Building skill sets through training, networking, e-learning, and working with a business coach
- How the NEST team helps newcomers understand Canadian business culture, networking, and language skills
- How planning and tapping into resources are the keys to success
Key takeaways:
- Entrepreneurship is back on the rise
- Entrepreneurs are passionate about what their businesses are about
- Entrepreneurs need to release their stress
- There are many resources out there
Resources Mentioned:
- BDC Study: A Nation of Entrepreneurs
- Futurpreneur
- Financial Management Game
- EP020 Business Financing Tips with Sharon Connolly, VP at BDC
Connect with Sharon Connolly:
- Business Development Bank of Canada
- Sharon Connolly on LinkedIn
- BDC on LinkedIn
- BDC on Facebook
- BDC on Twitter
- BDC on Instagram
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Arlen Bondoc is the Co-Founder and Editor-In-Chief at Made Men HQ, a blog for men that promotes, educates, and inspires positive lifestyles for its readers. Arlen is an ambitious and outgoing student at Sheridan College, aiming to earn a CFA, in pursuit of a career in banking and finance. He is also the Founder and President of The Finance Association (HMC) at Sheridan College.
Blake LeClair is a 4th year Bachelor of Commerce student in Accounting at Carleton University’s Sprott School of Business. He is an expert in creating student leadership initiatives and trains leaders at the university through the Sprott Ambassador Program, Sprott Accounting Students Association (SASA) and Sprott Information Systems Students Association (SISSA). Blake is passionate about working in the accounting field and has over a year of experience in public accounting.
Arlen and Blake join me today to share their financial fitness tips. Arlen shares why networking and finding mentors is essential for preparing yourself for finding work. He discusses starting a small business while being a student and why writing your ideas down is a significant first step in bringing them to fruition. Blake reveals how networking and being part of the community has helped him during his education. He also encourages students to never settle for where they are now and to show determination to meet their goals.
“Be proactive with your career. Get out there and network, network, and network.” - Arlen Bondoc
This Week on Young Money:
- Why you shouldn't go it alone and the value of mentors
- Being proactive with your career and networking
- How to learn social skills while being a student
- Starting a small business and website community
- Writing down your ideas and figuring out how to make them a reality
- Finding the confidence to get a job and concerns over student debt
- Taking advantage of incentive programs and compound interest
- Why you need to network and be involved in your community
- Being determined, focusing on goals, and never settling for where you are now
Key takeaways:
- Follow your passion
- Be proactive and network
- Write down your ideas and figure out how to make them happen
- Be goal-driven
Connect with Arlen Bondoc:
- Made Men HQ
- Made Men HQ in LinkedIn
- Arlen Bondoc on LinkedIn
Connect with Blake LeClair:
- Blake LeClair on LinkedIn
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Barry Choi is a travel and personal finance expert and the founder of Money We Have, a travel website and blog that advises on budget travel, trending destinations, millennial money, and credit cards. Based in Toronto, Barry is frequently quoted by the Canadian and U.S. media. He has made appearances on the Marilyn Denis Show, CTV's Your Morning, and Breakfast Television.
Barry joins me today to share tips on how to travel on a budget. He reveals how to make smart choices with your planning time and travel dollars and highlights the importance of doing your research and due diligence when making travel plans. He explains how you can earn rewards by using travel credit cards and loyalty programs, how to save for your trip, and how to create a budget. He also shares the travel mistakes to avoid and the most popular destinations for Canadian travel enthusiasts.
“It's not about being as cheap as possible with your travel; it's about being smart with your dollars and time.” - Barry Choi
This Week on Young Money:
- The importance of doing your due diligence and taking charge of your finances
- How to make smart choices with your travel dollars and time
- Earning points with travel credit cards or loyalty programs
- The most popular travel destinations for Canadians
- The importance of researching multiple destinations
- The biggest mistakes travelers typically make
- What you should be spending your travel dollars on
- How to save for travel and create a travel budget
Key takeaways:
- Be smart with your dollars and time
- Use credit cards and loyalty programs to your advantage
- Research more than one destination
- Don't be too cheap
- Travel isn't as expensive as you think
Resources Mentioned:
- EP049 5 Questions to Answer Before Getting a Credit Card
- EP056 Back to Basics – The 5Cs of Credit
Connect with Barry Choi:
- Money We Have
- Money We Have on Facebook
- Barry Choi on Twitter
- Barry Choi on LinkedIn
- Barry Choi on Instagram
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Understanding financial matters is a fundamental life skill but the school system is not very good at delivering education around it. But understanding money - how to save it, spend it, and invest it - is key to increasing your financial fitness and securing your financial future. It’s essential to accomplish the things you want in life.
Are you ready to grow your financial confidence and financial decision-making skills?
Today, I share how you can go beyond listening to the Young Money podcast and work with me in 2020. I share my story from learning about the value of money as a child to hustling to make money and recognizing the four elements of successful selling. I highlight the importance of grasping opportunities that come your way and highlighting the value of continuing your education throughout your career. I also share some of the resources I provide, including the 12-Month Money Planner for Young Millionaires.
“Understanding financial matters is a fundamental life skill.” - Tracey Bissett
This Week on Young Money:
- How I learned the value of money as a child
- The four pillars of the money-making formula
- The opportunities I had at Junior Achievement Canada
- Studying Commerce at Queen's University
- The value of continued education
- Working with young adults and entrepreneurs
Five ways to work with me in 2020:
- Continue to listen to the Young Money podcast, and share your feedback
- Get your copy of the 12-Month Money Planner for Young Millionaires
- Invite me to speak to groups of young adults, entrepreneurs, and young adult entrepreneurs
- Check out my financial fitness packages for entrepreneurs and business owners
- Participate in my live and online financial coaching courses
Resources Mentioned:
- Junior Achievement Canada
- 12-Month Money Planner for Young Millionaires
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
With 41% of Canadians rating money as their most significant source of stress, it is likely affecting you or someone close to you. More than half of Canadians are just $200 away from being unable to pay their bills. One in five couldn’t afford to live for a week if their primary source of income disappeared. Financial confidence is strongly related to financial well-being, so it is essential to learn about money management to build your confidence.
Today, I share the top 3 financial fitness lessons we have learned in 2019 and announce my 2020 predictions and tips. I discuss how debt levels will continue to rise in 2020 and how you can reduce this trend with careful money management. I share how you can assess your finances and work out your cash flow numbers as well as what to do if your outgoing cash, your spending, exceeds your incoming cash, your income. I also highlight why it is vital to set financial goals and how to make sure they become a reality.
“Think about what is important to you and create financial goals to achieve the things you want in your life.” - Tracey Bissett
This Week on Young Money:
- The rising debt levels in Canada
- Why money management is crucial for financial success
- How to avoid financial overwhelm
- Determining your money mindset and assessing where you are
- How to work out your cash flow with actual numbers
- Determining whether to reduce your spending or increase your earnings
- Why it is vital to set financial goals
- Assessing every purchase to see if it aligns with your goals
Tips to Take Charge of Your Finances in 2020:
- Observe your money mindset
- Figure out your numbers
- Assess your financial performance
- Set financial goals
- Be mindful about spending
Resources Mentioned:
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP062 What is your Money Mindset?
- EP081 Credit Canada Debt Solutions with Laurie Campbell
- EP111 Milli Moves: Talk Money to Me with Kelley Keehn
- EP114 Milli Moves: Are you Uber broke?
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
If you love the Young Money podcast, then you’re aware of the importance of your financial fitness aka financial literacy, recognizing that it is a fundamental life skill that everyone should possess. Your feedback tells me that you enjoy the content we release and keep coming back for more. As positivity and momentum continues to build around Young Money, you have helped us pass several significant milestones including two years of podcast production and pulling in the highest number of monthly downloads ever in November 2019.
Today, I share what has been happening behind the scenes of Young Money. I share how Young Money has been helping listeners think about money in new ways and take control of their financial futures. I reveal why I love podcasting and give thanks to my podcast production team as well as Young Money fans. I highlight why you should continue to share Young Money news on social media and with your friends and family. I also announce The Young Money Listener Contest and how you can participate to win a fantastic prize.
“Financial fitness, a.k.a. financial literacy, is a fundamental life skill.” - Tracey Bissett
This Week on Young Money:
- Taking control of your financial fitness
- Thinking about money in different ways
- Moving from poverty to possibility
- Why I love working in ‘the podcast factory’
- Looking forward to 2020
- How to help us reach more people who want to move forward with their financial fitness
- How to participate in the Young Money Listener Contest
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Olga Kirshenbaum is the founder of Rags to Riches Consulting, helping entrepreneurs, small business owners, and individuals find their full potential through the empowerment of taking control of their financial future. Olga is the author of Shmoney Guide: Making Money Choices Doesn't Need to Be So Scary and is passionate about her role as a ‘money whisperer.’ She is working to help people overcome the money-talk stigma, encouraging them to ask questions and ask for help. Olga has a Bachelor’s degree in accounting from Marymount Manhattan College and a Masters in Business Administration and Entrepreneurship from Long Island University.
Olga joins me today to share the insights and financial strategies in her Shmoney Guide. She highlights the importance of being organized, setting goals, and finding challenges. Olga reveals why a budget and safety net are vital and why people are struggling in today’s cashless world. She shares why you need to talk about money and ask for help when it is required. Olga also shares a script that you can use to talk to creditors.
“Your money goals are your map of where you want to go, and your budget is your compass.” - Olga Kirshenbaum
This Week on Young Money:
- Helping people understand what the function and purpose of money is in their business
- Setting goals, being organized and finding challenges
- The experience that inspired the creation of Rags to Riches Consulting
- The importance of having a budget and financial safety net
- How the Shmoney Guide gives financial help to those with limited financial resources
- An outline of the success strategies in the book
- The difficulties of managing your money in a cashless world
- The advantages of budgeting with pen and paper first
- The problems that result from not talking about money and not asking for help
- Using a script to talk to creditors
Key takeaways:
- Be goal oriented and organized
- Be self-aware and push yourself to the next challenge
- Go old school and make a budget with pen and paper
- Talk about money and ask for help
- Money is a tool to use to accomplish what you want
Resources Mentioned:
- EP062 What is your Money Mindset?
- EP109 Milli Moves: Take Charge of Your Finances – Financial Literacy Month 2019
- EP113 Milli Moves: How to Pay for Postsecondary School with Suzanne Tyson
- How to Rebuild Your Relationship With Creditors You've Been Avoiding
Connect with Olga Kirshenbaum:
- Rags to Riches Consulting
- Rags to Riches Consulting on Facebook
- Rags to Riches Consulting on Instagram
- Rags to Riches Consulting on Twitter
- Olga Kirshenbaum on LinkedIn
- Email: olga@ragstorichesconsulting.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Many young adults are falling into a cycle of wasting money and overspending. Some of these wasteful spending habits are due to the perception of convenience offered by ride and food delivery services. These expenses can quickly mount up and result in breaking the budget and falling short of achieving goals. If this sounds like you, then it is time to be honest, and take control of your money and boost your earnings and savings power.
Today, I discuss whether convenience is causing you to break your budget and leave you Uber broke. I highlight how spending habits have changed and why frank conversations around money are still required. I share how Uber and food delivery services have become more popular and how they lead to overspending. I also share how to approach your friends to ensure that they pay their share and highlight why you should consider if each purchase is necessary or whether it’s a roadblock to achieving your goals.
“It’s important to think about what is important to you and to create financial goals to achieve the things you want in your life.” - Tracey Bissett
This Week on Young Money:
- How spending attitudes have changed and the lack of frank conversations around money
- The rise in convenience services including Uber and food delivery
- Why you need to calculate the real cost of food delivery services
- How to ask your friends to pay their share
- Breaking bad habit cycles and developing an ‘everything in moderation’ mindset
- Setting goals and being mindful of unnecessary purchases
- Considering your safety when choosing ride services and vacation rentals
Key Takeaways:
- Know the true cost of convenience
- Everything in moderation
- Focus on your goals
- Never compromise your safety to save money
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Suzanne Tyson is the founder of Higher Ed Points, the world’s first company to enable loyalty points conversions, from anyone, into funds for higher education. Higher Ed Points has funded over $1.7-Million in student tuition fees and loan repayments. Suzanne has a 30-year career, of which half has been spent in higher education and student funding. In 2017, she was selected as a Top 7 SheEO Canadian Funded Venture. In 2019 she was one of the Regional Finalists for the MIT Inclusive Innovation Challenge and a Top 5 Finalist in the TELUS PITCH.
Suzanne joins me today to share tips on how to pay for postsecondary school. She shares essential information on the cost of tuition and living expenses as well as how to narrow down what you want to study and where. Suzanne highlights why it is vital to talk to family about who is going to fund your education, early on. She also shares how you can save money by using on-campus and online resources and the benefits of securing a part-time job with a franchised brand.
“Knowing what it is going to cost you is the first step in planning.” - Suzanne Tyson
This Week on Young Money:
- How students can redeem anyone’s points for tuition fees or loan repayments
- The average cost of tuition each year
- Why it is vital in higher education to study something that interests you
- Why gap years can be meaningful
- Resources to narrow down what and where you want to study
- Why it's vital to talk to your family about who is funding education
- How to find scholarship programs
- Why you should seek help from career services and financial aid services
- The optimal number of hours to work per week while studying full-time
- Why you should start paying off student loans as soon as possible
- How you can save thousands of dollars by seeing your academic advisors
Key takeaways:
- Use the resources available to you
- Prepare your finances
- Focus on your job of being a student
Resources Mentioned:
- EP028 Fund Your Education with Loyalty Points by Suzanne Tyson of HigherEdPoints
- EP042 Best of Tips for Postsecondary Education
- EP030 Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- SheEO
- Can Gap Year Association
- School Finder
- Scholarships Canada
- mycampusGPS
- Ways to Pay for School Handout
Connect with Suzanne Tyson:
- Higher Ed Points
- Higher Ed Points on Facebook
- Higher Ed Points on Twitter
- Suzanne Tyson on LinkedIn
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kelly Fillman is the Operations Manager for Eleanor Beaton & Company, an organization that advises women entrepreneurs on presence, power, and strategic growth. She earned her Bachelor of Arts in Psychology from Western University in 2017. Kelly is a volleyball coach, animal lover, and mentor to young girls as well as a community volunteer for Autism Nova Scotia and the Alumni Coordinator for Rothesay Netherwood School.
Vanesa Cotlar is a strategic leader and Business Development Manager for Economic Development Winnipeg, where she focuses on growing the Winnipeg economy by increasing the strength of the talent ecosystem. She was the co-founder and CEO of Octagon Careers, an HR-tech start-up, and in 2019, Vanesa made the shortlist for the Business Leader of the Year award at the Women in IT Awards. Voluntarily, she has worked in leadership roles for Youville Centre, North Forge Accelerator Program, and Sunnybrook Next Generation. Vanesa earned her Bachelor of Commerce from Smith School of Business at Queens University.
Kelly and Vanesa join me today to share their financial fitness tips for Young Money listeners. Kelly reveals the goals and concerns she had when leaving university and the economic advantages of moving back into your family’s home. She highlights why it is vital to set yourself up for financial success by starting an emergency fund and looking after your credit rating. She also shares why it is essential to balance having fun with being financially savvy. Vanesa shares her unconventional story and experiences of remote working. She also talks about why it is vital to be open to opportunities and align your goals with the things that make you happy.
“It is important to be knowledgeable about where your money is going in order to secure a financial future for yourself.” - Kelly Fillman
This Week on Young Money:
- Kelly’s goals, worries, and concerns upon finishing her degree
- The financial benefits of moving back to your family’s home after university
- Setting yourself up for financial success
- Why it is vital to have a good credit rating
- The benefits of setting up an emergency fund
- Finding a balance between being financially smart while also enjoying life
- Leasing versus buying a car
- Vanesa’s unconventional story as a digital nomad and living in 12 countries over 12 months through the Remote Year program
- The great number of professions that can be done remotely
- Being part of a remote workforce
- Why a flexible mindset to take opportunities is the best success strategy
Key takeaways:
- Be mindful of your credit rating
- Set up an emergency fund
- Find a balance between enjoying life and being financially fit
- Be open to possibilities
Resources Mentioned:
- EP029 Buying vs. Leasing a Car
Connect with Kelly Fillman:
- Email Kelly Fillman
- Kelly Fillman on LinkedIn
- Kelly Filman on Facebook
- Kelly Filman on Twitter
- Kelly Filman on Instagram
Connect with Vanesa Cotlar:
- Economic Development Winnipeg
- Vanesa Cotlar on LinkedIn
- Vanesa Cotlar on Instagram
Get Your Young Money Questions ANSWERED!
Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Kelley Keehn is a personal finance educator, speaker, media personality, and a bestselling, award-winning author of ten books, including her newest book, Talk Money to Me, available in bookstores on December 17th. Kelley is the Consumer Advocate for FP Canada and serves on several non-profit boards and government committees. She was the host of W Network’s Burn My Mortgage and the personal finance authority on The Marilyn Denis Show for seven years.
Kelley joins me today to share her inspiration for writing the Talk Money to Me book. She explains the reasons why financial literacy is still a problem in Canada and shares how social media creates false economic perceptions. Kelley shares several money-moves that everyone can make to increase their financial fitness. She also highlights financial mistakes to avoid and how slowing down your decision-making process on big purchases can help you make better choices.
“Understanding that your ability to earn an income in your life is the most valuable asset that you have. ” - Kelley Keehn
This Week on Young Money:
- How a drive to help Canadians feel good about money inspired Kelley to write the Talk Money to Me book
- Three reasons why financial fitness is still a problem for Canadians
- How social media creates false financial perceptions of others
- The philosophy of ‘what you appreciate, appreciates’ tactic in your finances
- The financial moves to make before you start to save
- The financial missteps and irrational money moves to avoid
- Slowing down your buying-decision process to avoid making mistakes
- Cultivating a balanced approach to being happy and wealthy
Key takeaway:
- Shut out the noise of social media and comparisons to others.
- Think about financial management as a daily commitment – it is not a one-time thing.
- Stop and think before making big purchase decisions.
- Understand that your self worth does NOT equal your net worth.
Resources Mentioned:
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- FP Canada
- Financial Planning for Canadians
- Wealthy Barber
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP025 True Cost of Car Ownership
- EP029 Buying vs. Leasing a Car
Connect with Kelley Keehn:
- Kelley Keehn’s Website
- Talk Money to Me
- Kelley Keehn on Twitter
- Kelley Keehn on Facebook
- Kelley Keehn on Instagram
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about money? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Karla Badger-Brown is the Director of ASPIRE, a Toronto Finance International program developed to grow the talent pool of work-ready talent for the financial services industry. Karla has experience working in financial services, life sciences, retail, healthcare, and sales. She has a Ph.D. in Medical Biophysics from the University of Toronto and a Bachelor of Science in Genetics from the University of Manitoba.
Karla joins me today to share how the ASPIRE program is changing the perspective of roles in the financial industry and helping students find opportunities to grow and expand their skills. She shares three core ways that ASPIRE helps students, including job matching, the ASPIRE Challenge, and free resources. Karla also reveals the details of the upcoming ASPIRE Edge program and shares tips for students to avoid common business etiquette mistakes.
“A lot of financial services organizations are moving far more toward being technology organizations that happen to work in finance.” - Karla Badger-Brown
This Week on Young Money:
- Changing the perspective of financial services companies
- The exciting and innovative roles in finance, from data scientists to graphic designers and psychologists
- How ASPIRE is helping students grow and expand their skills
- How the job matching platform at ASPIRE helps students find internships and co-ops
- The opportunities for students who take part in the ASPIRE Challenge
- The ASPIRE resources to help students build business skills
- The upcoming ASPIRE Edge program
- Tips to help students avoid business etiquette mistakes
- Why students should take full advantage of work opportunities
Key takeaways:
- Take advantage of the ASPIRE opportunities
- ASPIRE is for students of any discipline
- Follow ASPIRE on social media for updates, employment and networking opportunities
Resources Mentioned:
- EP050 The Canadian financial services sector revealed with Jennifer Reynolds, President & CEO of TFSA
Connect with Karla Badger-Brown:
- ASPIRE
- Toronto Finance International
- Toronto Finance International on LinkedIn
- Toronto Finance International on Twitter
- Karla Badger-Brown on LinkedIn
- ASPIRE on LinkedIn
- ASPIRE on Facebook
- ASPIRE on Twitter
- ASPIRE on Instagram
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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When you are on a financial fitness journey, you will want to take control of your money and increase your earnings power. There are proven ways to do things to reach your financial goals, from budgeting to spending less than you earn. Putting your finances into order can be quite simple; you just need to know where to start and take that first step.
Today, in honor of Financial Literacy Month, I share tips on how to take charge of your finances. I discuss the theme of this year’s Financial Literacy Month and share essential tips on calculating your expenses, making a budget, and considering your financial goals and dreams. I highlight how to be a smart consumer and how to borrow money wisely while avoiding financial scams. I also share the first steps you need to make to take control of your debt.
“While it may be a little bit of work, it is so important to know the numbers and ensure you are spending less than you make.” - Tracey Bissett
This Week on Young Money:
- What is Financial Literacy Month in Canada
- The “Take charge of your finances!” theme
- How to calculate if your income is larger than your bills and expenses
- Why it is vital to spend less than you make
- What to do if you are spending more than you make
- Budgeting for your financial goals and dreams
- How to be a smart consumer
- How to borrow money wisely
- Taking control of your debt problems
Financial Literacy Month - Take Charge of Your Finances:
- Week 1 (November 3 to 9) - Start with a budget
- Week 2 (November 10 to 16) - Set financial goals
- Week 3 (November 17 to 23) - Be a smart financial consumer
- Week 4 (November 24 to 30) - Borrow money wisely
Resources Mentioned:
- National Strategy for Financial Literacy - Count me in, Canada
- Credit Education Week Canada Nov 13 event - Register here
- Can I Afford it? Masterclass - register here
- Financial Consumer Agency of Canada
- EP023 - How to Protect Yourself from Fraud
- EP044 Dangers of Payday Loans
- EP049 5 Questions to Answer Before Getting a Credit Card
- EP051 Gift and Prepaid Cards – Consumer Beware
- EP056 Back to Basics – The 5Cs of Credit
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP058 Invest in Your Financial Well-Being – Financial Literacy Month 2018
- EP081 Credit Canada Debt Solutions with Laurie Campbell
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
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Liz Lajoie is the strategist, CFO, and founder of Zen Money and the Zen Money Initiative™. She is the author of Zen Money Map and From Zero to Zen, which help small business owners and entrepreneurs master their money and grow thriving businesses. Liz has two decades of experience assisting multi-million-dollar firms with their strategic development and financial management. She has been featured on Women Inspired TV and the currently hosts Zen Money Monday, a weekly podcast on building profitable businesses for mission-driven entrepreneurs.
Liz joins me today to share the scoop on her latest book, Zen Money Map. She reveals the inspiration for writing the book and how entrepreneurs can develop positive feelings surrounding their money. Liz shares how business owners can create positive money flow and why they need to think of their future selves. She highlights the benefits of monthly money reviews and looking at the full money picture.
“The more you learn - and the more you learn about what works for you - then that pit in your stomach goes away and you’re left feeling more confident and satisfied with the money you’re making and where you put it.” - Liz Lajoie
This Week on Young Money:
- The inspiration for writing Zen Money Map.
- How to develop positive feelings around money.
- How our health and sense of well-being are linked to helping others.
- How businesses can create positive money flow.
- Why entrepreneurs need to make a plan to pay themselves.
- Why entrepreneurs should be focused on "the full money picture."
- How monthly money reviews give you control and help you feel empowered.
Key takeaways:
- Good feelings are associated with positive money flow.
- Entrepreneurs need to focus on paying themselves and making that sustainable.
- Focus on the full money picture.
Resources Mentioned:
- EP095 From Zero to Zen with Liz Lajoie
- EP101 How to Take Control of Your Financial Future like Taylor Swift
Connect with Liz Lajoie:
- Zen Money
- Zen Money Monday Show
- From Zero to Zen by Liz Lajoie
- Zen Money Map by Liz Lajoie
-
The Zen Money Financial Archetype Quiz
-
Liz Lajoie on LinkedIn
- Zen Money Initiative on LinkedIn
- Zen Money Initiative on Facebook
- LIz Lajoie on Instagram
- Liz Lajoie on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Hilda Gan is the President and Founder of People Bright Consulting, a company known for delivering custom human resource solutions. Hilda is an HR consultant, trainer, and keynote speaker, and combines her business acumen, business ownership experience, and HR expertise to help organizations build the foundation to successfully hire, retain, and engage employees. She is the creator of the Connect with REVUP™ Program, a program that trains, mentors, and coaches executives to develop their people management skills. Hilda is also passionate about working with young adults through her Leadership/Management Training Program.
Hilda joins me today to answer the questions that young millionaires in the making and Young Money listeners have asked. She reveals how you can stimulate your creative mind at work and the benefits of volunteering and taking advantage of company mentor programs. Hilda shares the approach you should take to deal with a problematic manager and how to handle workplace harassment. She also shares what you should do if you lose your job and the importance of having a contingency fund in place.
“If you have a mentor program in your company, take advantage of it.” - Hilda Gan
This Week on Young Money:
- How to manage your creative mind at work.
- Balancing what you want to do and have to do at work.
- The benefits of volunteering.
- How to tell your manager that you want to do more.
- Why you should take advantage of mentor programs.
- How to deal with a difficult manager or workplace harassment.
- What you should do if you lose your job.
- The difference between job termination and a layoff.
- Contingency funds, severance, and financial steps to take if you lose your job.
Key takeaways:
- Take advantage of volunteer and mentor programs.
- Have a contingency fund in place.
- Respectful, professional and ongoing communication is key.
Resources Mentioned:
- EP022 How to Land and Excel at Your Dream Job with Hilda Gan
- Maximizing Your Severance After a Job Loss
- Budgeting to Land Your Next Role After Job Loss
Connect with Hilda Gan:
- People Bright Consulting Website
- People Bright Consulting on Twitter
- People Bright Consulting on Facebook
- Hilda Gan on LinkedIn
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about human resources? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Leanna Haakons is the founder of Black Hawk Financial, a marketing and communications company that helps businesses drive revenue and increase brand awareness. She is a financial strategist, entrepreneur, wellness expert, and bestselling author of "Young, Fun & Financially Free." Leanna is also a public speaker and has been featured on Bloomberg TV and CNBC's Squawk Box, as well as on top podcasts to discuss financial literacy, marketing, and investing. She has a Master's in Business Program, International Business, Economics, and Marketing from SKEMA Business School and a Private Capital Market certificate from Pepperdine University.
Leanna joins me today to share how to navigate money and media. She highlights why people need to be wary of financial advice links posted by influencers on social media and how you can evaluate those offering financial advice. She reveals the missteps that many people make when improving their financial vocabulary and literacy. Leanna also shares how you can find your “financial nirvana” through assessing your needs and wants.
“When you know what you are working for, that will motivate you to take those steps to get it.” - Leanna Haakons
This Week on Young Money:
- What FINCON is all about.
- Why the public should be wary of affiliate links on social media.
- How to evaluate media sources and influencers.
- The financial accreditations to watch for when seeking advice.
- Missteps people make when looking to improve their financial fitness aka financial literacy.
- How to find your “financial nirvana” by assessing your financial wants and needs.
- Why saving is not investing and why you have to start investing.
Key takeaways:
- Be discerning about who you listen to on social media.
- Spend time improving your financial fitness aka financial literacy.
Resources Mentioned:
- EP024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP032 David Jenkins on Investing with TheAnswerIs
- Investopedia
Connect with Leanna Haakons:
- Black Hawk Financial
- Young Fun & Financially Free
- Leanna Haakons on Instagram
- Leanna Haakons on Twitter
- Leanna Haakons on Facebook
- Leanna Haakons on LinkedIn
- Black Hawk Financial on LinkedIn
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a question about media or money? Leave a voice message to get all of your Young Money questions answered.
Remember – there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Susan Diaz is the founder and chief content strategist at c + p digital; a digital marketing agency focused on simplification. Susan works with notable names in health, finance, and technology as well as smaller companies that are looking for a unique approach to digital marketing. She has worked in senior positions for companies such as Jafza, Brandcom Middle East, and Fortune Promoseven. She has a Bachelor of Arts in English Literature and Journalism from the University of Madras and a Digital Strategy and Communications Management Certificate from the University of Toronto.
Susan joins me today to share her experience of moving to a new country, navigating life, and finding financial fitness. She describes the challenges of immigrating and the importance of traits such as resilience and adventurism. Susan also shares how to build a strategic life plan, how to price your talent appropriately, and the importance of not being afraid of asking for help and support.
“Trust in your adventuring spirit. Find the people who will work with you and recognize that value.” - Susan Diaz
This Week on Young Money:
- Finding success by focusing on cash flow and agility.
- What digital marketing encompasses.
- The challenges of the immigration journey.
- Why you should be open to trying anything, be resilient, and use your highest talent.
- Building a strategic plan for your life.
- Why you should trust in your adventuring spirit.
- Why you shouldn't be afraid of asking for support and advice.
- Why self-employed people should price themselves with respect.
Key takeaways:
- Think about your mindset.
- Trust your adventuring spirit.
- Be open to learning and give yourself time.
- Be ready and ask for help if you need it.
Resources Mentioned:
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
Connect with Susan Diaz:
- c + p digital
- c + p digital on Facebook
- c + p digital on Twitter
- c + p digital on Instagram
- c + p digital on LInkedIn
- Susan Diaz on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Brian Lenahan is the founder of Aquitaine Innovation Advisors, an AI strategy consultancy. He is the author of Artificial Intelligence: Transitions and Artificial Intelligence: Foundations for Business Leaders and Consultants, written for those who are introducing AI technology in their businesses. Brian is an MIT-trained expert in AI strategies and the former executive of a top ten North American Bank. He is the author in residence at the AIGeeks Community and is adept at taking complex ideas and simplifying them.
Brian joins me today to share how you can make AI career transitions. He reveals the essential traits that lead to success and stresses the value of finding mentors and leveraging those around you. He shares how you can prepare for the AI culture and for future jobs that don’t exist in 2019 and highlights why you should look for a company that allows you to fail and learn from your failures. He also shares some of the career opportunities in the AI industry.
“It's so important to keep in touch with people to understand what's going on and where opportunities lie.” - Brian Lenahan
This Week on Young Money:
- Why curiosity, networking, trust, and perseverance are essential throughout your career.
- Leveraging the people around you early on in your career.
- The inspiration for writing Artificial Intelligence: Transitions.
- The process of researching and writing the book.
- The AI culture and preparing for jobs in the future that do not exist today.
- How believing in yourself and your goals will take you a long way.
- Looking for companies that will allow you to fail often and learn from it.
- The abilities of AI and what a Robo Advisor is.
- The opportunities in AI careers.
Key takeaways:
- Be curious, persevere, and create a network.
- Look for companies with an AI culture.
- Believe in yourself and your goals and learn from your failures.
Connect with Brian Lenahan:
- Aquitaine Innovation Advisors
- Brian Lenahan on LinkedIn
- Brian Lenahan on Facebook
- Artificial Intelligence: Transitions by Brian T. Lenahan
- Artificial Intelligence: Foundations for Business Leaders and Consultants by Brian T. Lenahan
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Some people push their financial agenda on others without considering the impact. These actions could be intentional or unintentional, and they may not be aware that they are doing it. Often these actions occur without malicious intent. However, it can still result in people feeling shame or embarrassment about their financial situation. It can lead to people spending money they don’t have rather than having uncomfortable conversations about money.
Today, I share how to judge if you are a financial bully and reveal how you should approach difficult conversations surrounding money. I share how you can use these conversations to set a baseline for future situations. I highlight the phrases that you should be mindful of to determine whether you’re pushing your financial agenda on someone else. I also share how you can remove financial bullying from your life.
“It is okay to have financial priorities that are unique to you. It’s your life and you should be living it the way you want.” - Tracey Bissett
This Week on Young Money:
- How to assess if you are a financial bully.
- How to approach conversations about money.
- Eliminating bad feelings and pressure from future situations.
- How to handle a financial bully if you encounter one.
- Phrases a financial bully might say.
- How to eliminate financial bullying from your life.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Erin Lowry is the author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together, and the upcoming Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up your Money. Her first book was noted as one of the best money books of 2017 by MarketWatch. She has been featured in the Wall Street Journal, The New York Times, and CBS Sunday Morning. She frequently speaks at conferences and universities around the country and has previously written for Cosmopolitan Magazine, Fast Company, and Refinery29.
Erin joins me today to offer insights on investing and why it is vital to invest as soon as possible. She shares how freelance and contract workers should prepare for times without a steady income as well as have open conversations with their partners. She reveals the different ways you can begin investing and the benefits of Exchange Traded Funds (ETFs), social investing, and diversification. She also highlights why it is essential to learn the financial language and shop around for financial advisors and financial services.
“Investing is one of the best ways of building wealth, especially if you have the advantage of time.” - Erin Lowry
This Week on Young Money:
- Why it's crucial to have a relationship with money from an early age.
- The benefits of investing early on in your career.
- Money management for contract and freelance workers.
- The ways you can get into investing without having tens of thousands of dollars.
- What an Exchange Traded Fund (ETF) is.
- The importance of investment diversification.
- The different resources for learning about money.
- Why you might want to consider social investing.
- What Robo advisors are.
- Why it's vital to shop around for financial services.
Key takeaways:
- Freelancers should have conversations and plan for times without a steady income.
- Take the time to learn the financial language.
- Evaluate if you are ready to invest.
- Diversify your investments.
Resources Mentioned:
- EP092 How to be In Love AND Financially Fit with Wendy Brookhouse
- EP032 David Jenkins on Investing with TheAnswerIs
Connect with Erin Lowry:
- Broke Millennial
- Broke Millennial on Facebook
- Broke Millennial on Twitter
- Broke Millennial on Instagram
- Erin Lowry on LinkedIn
- Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry
- Broke Millennial Takes On Investing: A Beginner’s Guide to Leveling Up your Money
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Whether you’re a fan of Taylor Swift’s music or not - there are many financial lessons we can learn from her. As young millionaires-in-the-making, it’s important to understand the power of taking control over your finances and earning power early in your adult life. After all, understanding how you’re earning and spending your money and creating plans for your future are the first steps in securing your financial success.
Today, I share how to take control of your financial future like Taylor Swift. I reveal what you can do to take control of your earning power and where you should begin your journey to financial success. I highlight how you can balance your current needs with your future plans. I also reveal why age shouldn’t be a factor when setting your goals and explain what you should consider when you find financial security.
“There are no shortcuts to success and no magic wands to wave or switches to flip. You can accomplish everything with focus, commitment, hard work, and persistence.” - Tracey Bissett
This Week on Young Money:
- What you can do to take control of your earning power.
- Creating a list of ways to increase your earning power.
- Why you shouldn't limit your goals.
- Finding a way to balance your current needs with your future plans.
- Why age shouldn't be a factor in your decisions.
- What to consider when you find financial security.
The 3 financial lessons to taking control of your financial future:
- Take control of your earning power.
- Find a way.
- Age is just a number.
Resources Mentioned:
- 12-Month Money Planner - Coming Soon - Fall 2019
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Financial fitness is a journey. In the beginning, you start to learn about budgeting and saving, and as you progress along this journey, you come to a destination where you may have advanced financial awareness or even become a sophisticated investor. Whether you are at the start or somewhere in between, improving your financial fitness starts with education and resources such as the Young Money Podcast.
Today, we celebrate achieving 100 episodes of the Young Money Podcast by looking at our most popular shows. I share the valuable feedback we’ve received from our loyal listeners and how I use your feedback and comments to create new content for our show. I also share clips from our previous episodes that have gained the most traction and listener engagement since launching Young Money in 2017 as well as details of my upcoming workbook: The 12-Month Money Planner.
“Financial fitness falls along a spectrum.” - Tracey Bissett
This Week on Young Money:
- The amazing feedback we’ve received from our listeners.
- How we use your feedback to continually provide valuable content.
- Our most-listened episodes on entrepreneurship.
-
- EP024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP026 Financially Empowering Today's Youth with Emily Bland of SucSeed
- EP046 Love, Nourish & Community with Sheena Russell of Made with Local
-
The Financial Cost of Pets
-
- EP015 I Love My Dog Rosie but She is Expensive! Find Out the Financial Realities of Having a Beloved Pet with Ellen Wright!
-
Our most popular financial fitness training episodes.
-
- EP037 - Cohabitate in a Financially Fit Way
- EP049 5 Questions to Answer Before Getting a Credit Card
- Our two top-ranking ‘industry insider’ episodes.
-
- EP021 Banking in the Digital Economy with Neil Parmenter, President and CEO of the Canadian Bankers Association
- EP081 Credit Canada Debt Solutions with Laurie Campbell
- The most popular episodes inspired by musicians and working with me!
-
- EP067 5 Financial Lessons Learned from Maroon 5
- EP068 How to Work with Me in 2019
- The upcoming 12-Month Money Planner
The 12-Month Money Planner Teachings:
- Get out of student debt jail.
- Invest like Millionaires.
- Build your financial knowledge and confidence.
Resources Mentioned:
- 12-Month Money Planner - Coming Soon - Fall 2019
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Nadine Cino is the CEO at TygaBox and the co-inventor of the TygaBox System. She is an entrepreneur, public speaker, writer, and thought leader. Nadine is an honored recipient of awards such as the 2008 IFMA Associate Member of the Year Award and the 2014 winner of the New York SmartCEO Brava Award. TygaBox is a 2018/2019 SheEO funded venture in the US. SheEO was launched in the US in 2016 and there are currently 14 US ventures in the network.
Nadine joins me today to reveal why she is passionate about the TygaBox System. She describes the financial model of TygaBox and its reuse of assets. Nadine highlights the importance of understanding your chart of accounts and why business owners should listen more to their clients. She also shares details of the upcoming TygaTrax tracking and tagging system.
“When you get your business started, focus on your chart of accounts. If you don’t understand how to make money and where your profits come from, you have no way of steering that ship to greater heights.” - Nadine Cino
This Week on Young Money:
- The benefits of the TygaBox system.
- How TygaBox invests in the fractional reuse of assets.
- Why we should make reuse a habit.
- Why passion is a vital success factor.
- What is a chart of accounts and why it is essential to understand yours.
- How to grow your business by listening to your customers.
- The traits of exceptional leaders.
- The upcoming TygaTrax electronic tracking tag.
Key takeaways:
- Find something you are passionate about.
- Find ideas that make money and inspire your customers.
- Help the environment.
- Find family support.
Connect with Nadine Cino:
- TygaBox
- TygaBox on Facebook
- TygaBox on Twitter
- TygaBox on Instagram
- TygaBox on LinkedIn
- TygaBox Company Video
- Nadine Cino on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Lucinda Hartley is the Co-Founder and Chief Innovation Officer at Neighbourlytics, a pioneering social analytics platform that is helping to create human-centered cities. Lucinda has more than a decade of experience in urban innovation, working for companies such as CoDesign Studio. During her time with CoDesign Studio, she created The Neighbourhood Project, which is Australia’s most significant community-led placemaking program. Lucinda was one of Melbourne’s Top 100 most influential people in 2012 and was elected for five years to the UN-Habitat Youth Advisory Board.
Lucinda joins me today to share how social data is being used to shape communities and cities. She reveals her passion for change and how it has affected her career. She highlights why you need to have the courage to try out your business ideas and the advantages of starting as early as possible. Lucinda also shares why it is vital to be financially literate and choose mentors that will coach you on a personal and professional level.
Neighbourlytics is one of the five companies selected as a 2018/2019 SheEO funded venture in Australia in its inaugural year.
“It's worth getting going with an idea or business concept, even if it's small because it's easier to pivot, grow, and change that as you experiment with it.” - Lucinda Hartley
This Week on Young Money:
- The social data that Neighbourlytics records.
- How Lucinda's drive to be an influencer of change shaped her career.
- Why you should try out your small business ideas.
- Why your business ideas must generate revenue.
- The value of being financially literate and on top of your numbers.
- Why you should seek out professional and personal mentors.
Key takeaways:
- Communities need to be shaped.
- Practical financial literacy is the key to running a business.
- Reach out to people you know and trust to help you improve your financial literacy.
Resources Mentioned:
- SheEO
- Junior Achievement of Canada
Connect with Lucinda Hartley
- Neighbourlytics
- Neighbourlytics on Instagram
- Neighbourlytics on Twitter
- Neighbourlytics on Facebook
- Neighbourlytics on LinkedIn
- Lucinda Hartley on Instagram
- Lucinda Hartley on Twitter
- Lucinda Hartley on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Ingrid Edstrom is the CEO of Polymath, an award-winning consultancy firm that helps small businesses strategize and grow. She is the personality of the Ask A Bookkeeper podcast and a Top 100 QuickBooks ProAdvisor. She has been recognized as one of the accounting industry’s Top 40 Under 40 and one of the Most Powerful Women in Accounting. Additionally, she is also a conference instructor and a leading professional in harnessing technology in her niche.
Ingrid joins me today to share how to start a financially fit business. She highlights why it is vital to follow your passion and have a win-win mindset. She reveals why it is essential to listen to your gut and accept that your way may be the best. She shares which financial and accountancy software works best and why you should use a double-entry bookkeeping system. Ingrid also highlights that money only has the value we give it and why it rarely is the route to happiness.
“Entrepreneurs often feel like they own a job, but it's important to set aside time to work both in our business and on our business.” - Ingrid Edstrom
This Week on Young Money:
- Why Ingrid opened a bookkeeping business during the 2008 financial crisis.
- Why it is crucial to follow your passion and have a win-win mindset to find success.
- Why you should listen to your gut and continually develop your business.
- Recognizing that your way may be the best way for you.
- Why you should keep your business and personal bank accounts separate.
- How to choose an accounting platform.
- What double-entry bookkeeping is.
- Misconceptions surrounding money, the value we give it, and the pursuit of money for happiness.
Key takeaways:
- Don’t let other people’s ideas influence what you are doing.
- Keep things simple.
- Money is a tool, and we shouldn’t let it rule our lives.
Resources Mentioned:
- EP062 What is your Money Mindset?
- EP063 Money Mindfulness with Jessica Moorhouse
-
EP064 The Magic of Sercy with Emmy Roberts
-
The Go-Giver: A Little Story About a Powerful Business Idea by John David Mann & Bob Burg
-
Start with Why: How Great Leaders Inspire Everyone to Take Action by Simon Sinek
Connect with Ingrid Edstrom:
- Polymath
- Polymath on Facebook
- Polymath on Twitter
- Polymath on LinkedIn
- Polymath on YouTube
- Polymath on Instagram
- Ask A Bookkeeper
- Ingrid Edstrom on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Jenny Brown is the co-founder and managing director at Envorinex, a plastics manufacturing company that creates products from hard-to-use plastics. Jenny is one of five women selected as a 2018/2019 SheEO funded venture in Australia in its inaugural year. Her career has been extremely varied, including roles in fencing, building, timber, and plastics. She has worked for companies such as Shell Australia and Mitsubishi. Jenny is a mother of three and is the president of the George Town Lions Club.
Jenny joins me today to share the story of Envorinex and how the company turns a profit by reusing the waste materials of other businesses. She highlights how crucial it is for business owners to gain an understanding of financial matters early on and then stay on top of those numbers. Jenny also shares why it isn’t all about money and the vital role that family provides in terms of support and inspiration.
“Many people have no idea what position their business is in, and I think this is a critical success factor.” - Jenny Brown
This Week on Young Money:
- What Jenny's day-to-day looks like.
- The value of bookkeeping knowledge for business owners.
- How Envorinex makes a profit by using waste.
- How awareness of access to credit would have helped Jenny early on.
- The importance of family support when running a business.
- What's in store for Envorinex in the future.
Key takeaways:
- Learn about finances early on.
- Stay on top of your numbers.
- It's not just about money.
Resources Mentioned:
- SheEO
- Vicki Saunders on LinkedIn
Connect with Jenny Brown:
- Envorinex
- Envorinex on Facebook
- Jenny Brown on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Liz Lajoie is the Zen Money Strategist & CFO, and founder of the Zen Money Initiative. She is the author of From Zero to Zen: Secret Keys to Nurturing Your Numbers and Finding Financial Flow, which helps entrepreneurs and small business owners master their money and make more of it. She has a Masters of Business Administration from Plymouth State University and has two decades of experience in financial management. Additionally, she is the host of the weekly Zen Money Monday podcast and has been featured on Women Inspired TV.
Liz joins me today to share her money management philosophy and what inspired her to write her book: From Zero to Zen. She explains the first steps you should take when developing a business in its early stages and highlights the common missteps that entrepreneurs make throughout their journey. She also shares why it is crucial to truly understand your numbers and why it is critical to communicate with your accountant and speak up if you don’t understand the financial language they use.
“It’s not just about recording numbers for the sake of recording numbers. It’s what we do with them once we have them.” - Liz Lajoie
This Week on Young Money:
- Why it's vital to be flexible, see an opportunity, and take advantage of it.
- Why you need to talk and learn about money management.
- The inspiration for writing Zero to Zen.
- The first financial things to consider when starting and developing a business.
- Why you need to look at your numbers and check your progress.
- The mistakes and missteps that entrepreneurs often make.
- The risks of not communicating with your accountant.
- Why it's vital to question the financial language if you don't understand it.
- What a money mindset is and how to assess it.
- What cash flow is and how you should manage it.
Key takeaways:
- Use the discomfort that you have, move through it, and get to a place where you are okay.
- Be aware of where you are at, know what stage your business is at in the business lifecycle and what cash flow looks like at that stage.
- Have a routine for checking your numbers.
- Take notice of the numbers and ask for as much help as you need.
- Be kind to yourself.
Connect with Liz Lajoie:
- Liz Lajoie Zen Money CFO
- Liz Lajoie on LinkedIn
- LIz Lajoie on Instagram
- Liz Lajoie on Twitter
- From Zero to Zen by Liz Lajoie
- Zen Money Initiative on LinkedIn
- Zen Money Monday Podcast
- Zen Money on Facebook
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
As a young adult, learning how to achieve financial freedom and stability can be challenging if you don’t know where to begin. Learning the importance and value of saving and investing is paramount, but with money and personal finance, true success comes from learning at your own pace.
Today, I share the financial fitness lessons that I would share with my younger self. I explain the importance of saving your money and learning to invest at a young age. I discuss the importance of taking a close look at your spending habits. I also explain why you should take more risks and explore all of the opportunities that are presented to you.
“Everyone can take a calculated risk at any age, but it is a lot easier to do the younger you are and you have less responsibilities.” - Tracey Bissett
This Week on Young Money:
- The importance of saving your money.
- Considering whether your spending habits are frivolous.
- Why you should learn about investing at a young age.
- Starting small and saving towards the things that are important to you.
- Taking more risks with investing and your career while you are young.
- Why you should thoroughly explore opportunities, even if you don’t end up taking them.
My Top 3 Financial Fitness Lessons:
- Save more even when you don't know what it is for.
- Learn about investing and actively do it sooner.
- Take more risk.
Resources Mentioned:
- EP033 Investing Basics
- EP038 Investing Spotlight Part 1
- EP040 Investing Spotlight Part 2
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share your financial lessons with me? Leave a voice message today!
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Petra Hakansson is the managing director of Guardian Angel Security, a SheEO funded venture that supplies and monitors GPS panic button pendants that help protect lone workers in remote environments. Petra has worked in the GPS and security industries for more than a decade, developing lone worker solutions for government bodies and small and medium-sized enterprises (SME’s). Her previous roles include being a sales and marketing manager, account manager, and national sales manager for companies such as First Management Group Global Security and Inkworks Limited.
Petra joins me today to share her journey of leaving the 9-to-5 behind to start her business venture. She reveals how she funded her start-up and the hard work and commitment needed to find success. She shares the traits that helped her build a business and the importance of communication and humility. Petra also discusses her money mindset and encourages young adults to have the confidence to take available opportunities.
“It’s about knowing that you don’t know everything and being open to watch, listen, read, and learn from people around you.” - Petra Hakansson
This Week on Young Money:
- How Petra left being a corporate slave behind and self-funded her business venture.
- Boot-strapping and funding growth through company revenue.
- Why being humble and setting high standards drives success.
- Why communication is vital to building a business and a brand.
-
Switching your mindset from money being a reward to money being a tool to give you choices.
-
How the customer fits into your business.
- Having the confidence to take risks and opportunities while you are young.
Key takeaways:
- Be open to learning.
- Chase your dreams and pursue risks.
- Hustle and make things happen.
Connect with Petra Hakansson:
- Guardian Angel Security
- Petra Hakansson on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Wendy Brookhouse is the founder of Black Star Wealth, a company dedicated to providing comprehensive financial services to professionals, entrepreneurs, and business owners. Wendy has developed unique, easy to implement solutions that remove the friction of anxiety and stress that stand in the way of her clients meeting their financial goals. She is also the inventor of the One Number Solution™, a holistic plan for saving, spending, and debt repayment. Wendy founded QueenPins, a money-raising organization for local causes and serves on the national board for Junior Achievement Canada.
Wendy joins me today to share how to be in love and financially fit. She describes how personal relationships and money can co-exist in harmony. She reveals when you should talk about finances in your relationship and polite ways to start those conversations. She stresses why it is vital to understand the costs of purchases paid on credit cards and highlights how your credit score and that of your partner can affect interest rates. Wendy also shares alternative ways you can split and automate living costs with your partner.
“When you start trying to finance vehicles, buy houses, or make other purchases, your credit score will be critical to the rate of interest you will pay.” - Wendy Brookhouse
This Week on Young Money:
- Knowing what is important to you and what is a deal breaker in finances and relationships.
- How to start conversations, introduce the subject of money, and discover money values.
- What a net worth statement shows.
- Understanding borrowing and why it is vital to realize the actual cost of paying back that debt or credit card purchase.
- Know the price versus cost of things.
- How your credit score and that of your partner will affect the interest rate for vehicle and house purchases.
- The different ways you can split costs when living with someone.
- How to simplify and automate your monthly finances.
- The benefits of cohabitation and/or prenuptial agreements.
Key takeaways:
- It all starts with you and knowing yourself.
- Be transparent with each other.
- Have a cohabitation and/or prenuptial agreement.
- Have regular conversations about your financial goals.
Resources Mentioned:
- EP007 How’s Your Financial Reputation aka Your Credit Score?
- EP062 What is your Money Mindset?
- EP063 Money Mindfulness with Jessica Moorhouse
Connect with Wendy Brookhouse:
- Black Star Wealth
- Black Star Wealth on LinkedIn
- Black Star Wealth on Facebook
- Black Star Wealth on Twitter
- Wendy Brookhouse on LinkedIn
- Burn Your Budget: How to Spend Your Way to Financial Freedom by Wendy Brookhouse
- Wendy’s Free Gift
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Robyn McLean is the Founder and Co-owner of the Hello Cup company where she handles the marketing and communications of the business. A quirky and out-of-the-box style is her specialty. She mentors startups in marketing and how to stand out from the crowd. Robyn has previously worked as the PR Manager for local government and the Royal New Zealand Ballet, as well as been a journalist for newspapers such as the Sunday Star Times, Dominion Post, and The Taranaki Daily News.
Robyn joins me today to share how an idea to try something turned into a business idea and a product that could change the world. Hello Cup was recently recognized as a 2018/2019 Top 5 New Zealand SheEO funded Venture. She reveals how her passion for words and has helped craft the marketing message for the Hello Cup company and how social media is giving a voice to people who want to be an entrepreneur and start a company. Robyn also describes how the mindset of having faith in yourself and your idea is key to turning an idea into a product or service and starting a successful business.
“Especially in this day and age, it is not difficult to start a company and give your idea a go.” - Robyn McLean
***This Week on Young Money:***
- How an idea to try something turned into creating something that could change the world.
- Her experience of moving from journalism to a PR role and getting the message across as simply as possible.
- How social media is helping small companies breakthrough and find a voice.
- Why you need to have faith in yourself and have the confidence to try things out.
- The key areas that businesses should be looking at when creating a business model.
- How as a SheEO funded venture Hello Cup is working on the world’s to do list.
-
Why it is important to forge your path and follow your gut.
Key takeaways:
- Have the courage and confidence to go with your idea.
- Be bold.
- Try to develop something you would like to have had when you were younger.
- Make the world a better place.
Connect with Robyn McLean:
-
Hello Cup
- Hello Cup on Facebook
- Hello Cup on Instagram
- Robyn McLean on LinkedIn
-
Email Hello Cup
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Financial fitness can seem like a dream that you can never bring into reality. You might feel like you are not good with money or that since your family is not good with money, you are doomed to repeat this pattern. Maybe you have debt, haven’t established an emergency buffer, or are merely surviving from one month to the next without saving for the future.
Today, I share the three lessons I have learned about financial fitness from Rihanna and Jay-Z. I share why your previous decisions and childhood circumstances shouldn’t impact the way you plan your financial future and the steps you can take to improve your financial success. I share how hard work, determination, and a positive attitude can help you create the financial freedom you deserve. I also reveal how Rihanna and Jay-Z’s inspirational financial stories can be used to help you gain a prosperous financial future.
“Financial fitness is all about the movement on the financial fitness spectrum. Each person can improve their level of financial fitness by taking a consistent, positive step forward.” - Tracey Bissett
This Week on Young Money:
- Why your past does not dictate your financial future.
- Why recognizing or noticing an issue or challenge is the first step to addressing it.
- Taking control and responsibility for building your financial future.
- Finding financial support and advice.
- Using support and advice while remaining in control of your finances.
3 Financial Fitness Lessons from Rihanna & Jay-Z:
- Your past does not dictate your future.
- Be the star of your own show.
- Own your financial future, and manage it with support and guidance.
Resources Mentioned:
- America’s Richest Self-Made Women - Forbes
- How Rihanna Created a $600 Million Fortune - And Became The World’s Richest Female Musician - Forbes
- Artists, Icon, Billionaire: How Jay-Z Created His $1 Billion Fortune - Forbes
Get Your Young Money Questions ANSWERED!
Leave me a message to share the financial lesson you learned from Rihanna and Jay-Z. Want to learn more about the steps you can take to stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Beau Humphreys, Personal Finance Coach, helps people get their personal finances on track. He is also the host of The Personal Finance Show, which shares personal finance stories. Since going through a consumer proposal 8 years ago, Beau has transformed his finances and is now a regular financial blogger and accountability coach for others that are struggling with their finances. Beau has a Bachelor’s Degree in Administrative and Commercial Studies from Western University and has worked as a Tour Finance Manager with Live Nation Global Touring.
Beau joins me today to share his story of dealing with a gambling addiction and how it lead to him becoming a personal finance coach. He reveals simple ways to manage your finances, from recognizing how much you earn to creating a simple financial plan. He highlights the importance of knowing where your money is being spent and stresses caution about using credit cards. He also shares how to get started with building savings and why jumping into investing does not need to be your first step.
“Introspection and self-awareness are the keys to everything.” - Beau Humphreys
This Week on Young Money:
- Beau’s previous addiction to gambling and working his way out of debt.
- His podcast and role as a personal finance and accountability coach.
- How to organize and simplify your personal finances.
- Why it is vital to track everything when planning your finances.
- Figuring out where your money is going.
- Why you should avoid using credit cards if you don't have that money in the bank.
- How to avoid high fees from eroding your returns when investing.
Key takeaways:
- Start slow and start with the basics.
- You don’t have to jump into investing; you can start by building savings.
- If you don’t understand something, talk about it and ask questions.
Resources Mentioned:
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
Connect with Beau Humphreys:
- Beau Humphreys Personal Finance Coach
- Invest Wisely
- Financial Accounting
- The Personal Finance Show
- Beau Humphreys on Facebook
- Beau Humphreys on Twitter
- Beau Humphreys on LinkedIn
- Beau Humphreys on Instagram
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Jocelyn Molyneux is the Founder of Wastenot Farms, a company that uses red wiggler worms to recycle and compost food and paper waste from offices in Toronto, creating a nutrient-loaded soil booster for urban gardeners. Jocelyn has worked for companies such as ZooShare Biogas Co-operative, Pride Toronto, and Turtle Island Recycling Corporation. She has an M.A.Sc. in Environmental Science and Management, a Bachelor of Business Administration Management and a Bachelor of Science in Psychology and Neuroscience from Bishop’s University.
Jocelyn joins me today to share her motivations and the experiences that led to creating a business. She highlights how she became a specialist in her field and how vital it was for her success. She describes how a full-time job supported her while developing her business. She also shares how important it is to invest in yourself and consider whether financial risks are worth taking.
“Really drill down and become an expert. Once you’re an expert, you’re that much more valuable.” - Jocelyn Molyneux
This Week on Young Money:
- What motivated Jocelyn to start a food waste recycling business.
- Becoming an expert and becoming more valuable to an employer.
- Why never giving up and throwing in the towel is a great trait to have.
- Having a side gig while building a business.
- Taking on good debt and why it is vital to invest in yourself.
- Assessing whether financial risks are worth taking.
- Using experts and getting advice when your financial skills are lacking.
Key takeaways:
- Find a passion and use it to specialize.
- Be persistent, positive, and never give up.
- Find a way to get your business going while working on the side.
- Assess risks versus rewards when making decisions.
- Learn business skills.
Connect with Jocelyn Molyneux:
- Wastenot Farms
- Soil Booster
- Wastenot Farms on Facebook
- Wastenot Farms on Twitter
- Wastenot Farms on LinkedIn
- Wastenot Farms on Instagram
- Jocelyn Molyneux on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Lana Sanichar is the President and Editor-in-Chief of Canadian MoneySaver, an independent investment advisory magazine and the co-host of The MoneySaver Podcast, a show which helps educate Canadians about money, saving, reducing debt, increasing assets, and safeguarding interests. Leading the Women’s Financial Awareness Group in her hometown, she helps inspire other women to take control of their finances. Lana also writes for several publications such as the Kincardine Independent and Costco Magazine.
Lana joins me today to share her story and explain the importance of having the right mindset to achieve financial fitness. She shares the three key elements that helped her secure her financial future, such as starting to save and invest as early as possible. She explains why it’s vital to invest in your education and to find mentors that can help you along the way. She also shares the incredible power of compound interest and how seeing it in action creates an addictive saving nature.
“Mindset is such a huge thing in personal finance. It’s just getting over that and taking those initial steps" - Lana Sanichar
This Week on Young Money:
- What Lana’s typical working day looks like.
- The mindset and three things that helped Lana find success.
- The turning point in her life that led her to secure her financial future.
- Tips for young adults who wish to secure their financial future.
- The importance of education and mentorship.
- The power of compound interest and starting to save and invest as early as possible.
- The addictive nature of saving and staying within a monthly budget.
Key takeaways:
- Start saving, no matter how small, to secure your financial future.
- Invest in yourself and your education.
- Find a mentor.
- Find a side hustle to earn more money.
- Negotiate and ask for what you want.
Resources Mentioned:
- EP069 How to be Financially Resilient with Jackie Porter
Connect with Lana Sanichar:
- Canadian MoneySaver
- The MoneySaver Podcast
- Canadian MoneySaver on LinkedIn
- Canadian MoneySaver on Twitter
- Canadian MoneySaver on Facebook
- Lana Sanichar on LinkedIn
- Lana Sanichar on Twitter
- Lana Sanichar on Facebook
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Talking with your family about your money and financial demands can be a difficult conversation, but it is certainly an important one. Over 96% of families with children between 18-35 admit that they help their children with their financial burden - including life expenses such as rent and groceries, often at the expense of postponing their retirement. While it can be tempting for young adults to stay in the mindset of accepting financial help from your family or to believe that your family should be taking care of you, how would you feel if it meant that they weren’t taking care of themselves?
On today’s episode, I explore how the financial demands of many young adults could be hurting their families and loved ones. I discuss ways you can help yourself and your family to become financially fit, why it’s important for parents and their children to communicate the financial demands that will impact everyone involved, and how a little planning and preparation can help you meet your financial goals without hurting your loved ones. I also share how you can find a financial solution when your family cannot assist with your financial needs.
“It can be a challenge to achieve everything you want financially, but with communication, a plan, and commitment - you can do it.” - Tracey Bissett
This Week on Young Money:
- The importance of being thoughtful and realistic about your financial needs.
- The importance of setting realistic goals and plans for paying back loans.
- How to prepare for financial conversations with your family.
- Why you should plan a time to talk with your family about your money-related concerns.
- How to come to a mutually agreeable solution.
- Why you should consider other solutions that may decrease costs or increase your income.
- How to plan for unexpected costs associated with home ownership.
3 Tips for Discussing Your Financial Demands with Your Family:
- Think through your financial request fully.
- Schedule time and prepare for your money talk.
- Find a mutually agreeable solution.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit? Or do you want to leave feedback about the show? Leave a voice message here!
Remember - there is no silly question when it comes to your financial fitness.
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Sandra D'Souza is the Founder and Managing Director of Sandstone Solutions Group, a boutique recruitment company that conducts candidate searches for organizations of all sizes and across all sectors, including the private equity and not-for-profit sectors. Sandra is a business professional with over 20-years of experience in senior recruitment and financial roles. She has previously held positions as the Director of Recruiting and is currently an active participant with the Mississauga Board of Trade. She has an Honors Bachelor of Commerce degree from the University of Ottawa and obtained her CPA, CA designation. Sandra is passionate about helping organizations connect and recruit employees and build winning teams.
Sandra joins me today to share advice that will make you a star candidate for your next employment role. She shares the crucial investment and financial lessons that she has learned throughout her life and career and explains what happens during a recruiter's call screening process. Sandra also shares the correct etiquette for building relationships with recruiters and explains what you should and shouldn't do before attending a job interview.
“You should find that happy medium of being able to answer the questions directly and giving enough information.” - Sandra D'Souza
This Week on Young Money:
- How Sandstone Solutions searches for candidates.
- The financial and investment lessons that Sandra learned early on.
- How a search firm and recruiter can help candidates.
- What happens during a screening call once a potential candidate has been identified.
- How to maintain a fruitful relationship with a recruiter.
- How to properly prepare for a job interview.
- The right way to follow up after a recruitment interview.
- Things you shouldn’t do when talking to a recruiter.
Key takeaways:
- Be yourself during interviews.
- Let your employer know what you are going to be like.
- Ask the questions you need to ask to make sure the role is right for you.
Connect with Sandra D'Souza:
- Sandstone Solutions Group
- Sandra D'Souza on LinkedIn
- Sandstone Solutions on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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Many people find themselves in debt or suddenly realize that they aren’t making any savings or building a retirement nest egg. It can be hard to know where and how to start clearing debt. You may feel that you don’t have the financial knowledge to create a plan, start saving or make investments. It is also easy to make excuses or tell yourself stories to feel better about not doing anything to improve your financial situation.
Today, I share three myths that are sabotaging your financial fitness. I reveal how you can break the cycle of not taking action and how you can build upon your first steps towards financial fitness. I discuss the benefits of setting up a financial plan to clear debts and begin saving or investing. I also highlight the need for a budget that still lets you live a fun and fulfilling life as well as emphasize the importance of having an emergency fund and saving for retirement.
“You don’t need to know everything to take positive action. Start with one positive action.” - Tracey Bissett
This Week on Young Money:
- How to overcome the paralysis of not taking action through a lack of financial knowledge.
- How to build on simple beginnings and move towards financial fitness.
- Why you need a dedicated plan and methodical approach to clearing debt.
- Setting a budget that still allows you to have a fun and fulfilling life.
- Why you should save consistently and regularly, regardless of how large or small the amount you set aside.
- The power of compound interest.
- How to grow an emergency fund or save for retirement.
The 3 Myths Sabotaging your Financial Fitness:
- You can’t do anything because you don’t know anything or everything about finance.
- There’s an easy fix to dealing with debt.
- You do not have enough money to worry about savings or investing.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit or share a myth sabotaging your financial fitness? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Ann Marie MacDougall is the Founder and President of LeaderBoom, an organization on a mission to foster high performing cultures through leadership coaching, development, and consulting. Ann Marie started her career in the banking industry, managing diverse multi-cultural teams. She has a passion for helping teams and leaders recognize solutions to complex challenges, encouraging supportive behaviors, and releasing their full potential. She has an MBA from The Rotman School of Management in Toronto and has received the Directors Award for Women Manager.
Ann Marie joins me today to share how LeaderBoom is helping newcomers to Canada, particularly women, with professional and entrepreneurial skill sets. She reveals the skills, attitudes, and openness that allow global leaders to find success and encourages newcomers to recognize these and make people aware that they have them. She also shares her views on what Canada will need to do to be prosperous in the future and highlights the entrepreneurship hub for women that is being developed by Ryerson University.
“If you are very adaptable to change and embrace change, then recognize that this a unique skill set, own that skill, and perhaps offer to mentor.” - Ann Marie MacDougall
This Week on Young Money:
- How LeaderBoom helps newcomers to Canada, small businesses, and professional women.
- The importance of being open and embracing change.
- The advice that Ann Marie would give to a younger version of herself.
- The traits and skills that Ann Marie has seen through researching 50 global leaders.
- Three skill sets that highly-successful professional woman coming to Canada all show.
- Tips to help new professionals to Canada integrate.
- The things that will help Canada be prosperous in the future.
- How Ryerson University is developing an entrepreneurship hub for women.
Key takeaways:
- As employers, workplaces need to think about the workforce skill sets of the future.
- Employers need to be open to who are the right people to fill those roles.
- If you have those skill sets, make sure that people are aware that you have them.
Connect with Ann Marie MacDougall:
- LeaderBoom
- LeaderBoom on Facebook
- LeaderBoom on Twitter
- LeaderBoom on LinkedIn
- Ann Marie MacDougall on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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Roller coasters are without a doubt the highlight of every theme park enthusiast. The multiple twists and turns, the climb and the drop that seems to never end, riding a roller coaster will definitely get your blood pumping. As fun as a roller coaster ride can be, the way you manage your finances shouldn’t replicate the ups, downs, and nauseating turns that ride makes.
Today, I share tips on how you can avoid financial roller coaster rides. I describe the similarities between roller coaster rides and common financial woes. I discuss the logic behind the tips I provide and cite multiple real-world scenarios which you may or may not relate to. I also explain how you can be in charge of your finances without being stressed out.
“No matter your level of knowledge or financial acumen, you are in charge of your financial life.” - Tracey Bissett
This Week on Young Money:
- Strategies for taking control of your financial situation and increasing your financial acumen.
- How planning your finances and setting short, medium, and long-term goals can help you avoid financial roller coaster rides.
- Examples of short-term, medium-term, and long-term financial goals.
- How to be prepared for unexpected events that may impact your financial situation.
3 Tips to Avoid Financial Rollercoaster Rides:
- Take control of your financial situation.
- Make plans for the short, medium, and long term.
- Be ready for the unexpected; don't give up and adjust as necessary.
Resources Mentioned:
- Canada’s Wonderland
- Cedar Point
- Longest, fastest, highest roller-coaster of its type set to terrify riders at Canada’s Wonderland - CBC News
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Laurie Campbell is the CEO of Credit Canada Debt Solutions Inc., the longest established non-profit credit counselling agency in Canada. Laurie is recognized as an expert in personal finance as well as an advocate for consumer protection. She is on the Board of Credit Counselling Canada and Chair of the Advocacy Committee. She is a former member of the Task Force on Financial Literacy and was the President of the Credit Association of Greater Toronto.
Laurie joins me today to share how Credit Canada Debt Solutions is helping people who are struggling with debt and managing their finances. She reveals the financial trends that are concerning many Canadians and the negative role that social media is having on people today. Laurie shares the four pillars of money management that form essential life skills and tips that will help you manage your finances and reduce the amount of stress that you may feel about your debt.
“By having a lifestyle plan that gives you some fun, but recognizes the need for savings and long-term goals, you’ll be able to realize the goals that you want.” - Laurie Campbell
This Week on Young Money:
- The financial issues that Credit Canada Debt Solutions helps people with.
- How perseverance has helped Laurie run a non-profit organization.
- The financial trends that are concerning Canadians.
- How social media misrepresents how people are really living.
- The adverse effect of social media on those that are struggling financially.
- The critical life skills being taught by Credit Canada.
- The four pillars of money management.
- How to protect yourself against fraud.
- Tips on how to manage your finances and feel better about your debt.
Credit Canada Debt Solutions’ 4 Pillars of Money Management:
- Banking
- Use of Credit
- Budgeting and Money Management
- Fraud
Key takeaways:
- Recognize that you are not alone.
- Talk to your family or partner about your financial situation.
- Talk to a non-profit credit counseling service.
Resources Mentioned:
- EP023 How to Protect Yourself from Fraud
- EP057 Bankruptcy and Consumer Proposals what does it mean with Doug Hoyes
- EP074 How to Protect Your Business from Fraud
Connect with Laurie Campbell:
- Credit Canada Debt Solutions
- Credit Canada on Facebook
- Credit Canada on Twitter
- Credit Canada on Instagram
- Credit Canada on LinkedIn
- Laurie Campbell on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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With summer approaching, many people are planning their weddings. Wedding planning can be stressful, particularly in terms of creating a wedding celebration on a realistic budget. If you are planning a wedding soon, then the expenses should also have you thinking about how these costs will affect your future financial goals.
Today, I share everything you need to consider when planning your wedding budget. I discuss the key questions you should ask yourself and your significant other before tying the knot, why you should consider how your wedding costs might affect your future goals and the importance of creating a contingency plan for things you may have overlooked early-on. I also explain what a prenuptial arrangement is and why you should consider talking with your partner about entering into one.
“Before you start setting a wedding budget, it’s important to consider what other financial commitments you may have on the horizon based on your goals.” - Tracey Bissett
This Week on Young Money:
- The importance of identifying who pays for the wedding and the non-negotiables you and your family want for your big day.
- Identifying your future financial commitments and goals, for yourself and your partner.
- Determining how much you can afford to spend on your memorable day.
- Creating a contingency plan for things that unexpectedly ‘pop up’ while planning your wedding.
- Considering how your financials will look after the wedding and how that will make you feel.
- Determining whether you should enter into a prenuptial arrangement.
5 Financial Questions to Ask When Planning for your Wedding:
- Why are you getting married and who will pay for it?
- What are you and your partner’s life goals?
- How much can you afford to spend?
- How do you want to feel financially after the wedding?
- Should you and your partner be entering into a prenuptial arrangement?
Resources Mentioned:
- EP015 I Love My Dog Rosie but She is Expensive! Find Out the Financial Realities of Having a Beloved Pet with Ellen Wright!
- EP027 What is a Mortgage Broker with Leanne Myles
- EP031 True Cost of Being a Wedding Guest
- EP037 - Cohabitate in a Financially Fit Way
- EP062 What is your Money Mindset?
- EP070 RRSP Withdrawal Programs – What Are They & How Do They Work?
- EP079 Burn Your Mortgage with Sean Cooper
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Sean Cooper is an independent mortgage broker, international speaker, personal finance writer, and the author of Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians. His articles on personal finance have been featured in multiple publications such as the Toronto Star, Globe and Mail, MoneySense, and Financial Post. He has made regular appearances on several national television and radio shows including the CBC News Network, Global Morning Show, and Bell Media’s Bell Local Super Savers Show where he discusses topics related to personal finance, pensions and retirement planning, and mortgages and real estate.
Sean joins me today to share how he paid off his mortgage in three short years. He shares tips that can help you get and burn your mortgage at an earlier date, the inspiration for writing his book, and why he feels more focus should be put on financial literacy through the school system. He also shares the criteria that mortgage lenders are looking for and how you can prepare your finances to meet those standards as well as why it is vital to get pre-approved and be aware of the closing costs of homeownership.
“For most Canadians, buying a home is the single biggest financial transaction of their lifetime.” - Sean Cooper
This Week on Young Money:
- Why Sean decided to get licensed and become a mortgage broker.
- How a strong work ethic and goal setting has allowed Sean to be successful.
- Why he feels that financial literacy needs more focus in the school system.
- How he ‘burned his mortgage papers’ and the inspiration for his book.
- The lifestyle changes that you can make to get into home ownership.
- What is the 2-2-2-rule that lenders are looking for?
- The closing costs and expenses that home buyers will incur.
- The misconceptions of home ownership and the value of having a mortgage broker.
- The questions you should be prepared to answer when applying for a mortgage pre-approval.
Key takeaways:
- Qualify for a mortgage by focusing on your income, down payment, credit, and debt.
- Set a date goal for homeownership.
- Save regularly.
- Take the time to get pre-approved.
Resources Mentioned:
- EP007 How’s Your Financial Reputation aka Your Credit Score?
Connect with Sean Cooper:
- Sean Cooper website
- MortgagePal
- Sean Cooper on LinkedIn
- Sean Cooper on YouTube
- Sean Cooper on Twitter
-
Sean Cooper on Facebook
-
Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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Spring is an excellent time of year when nature and new life spring into action. This makes spring the perfect time to review your finances and to make sure you reach your goals, reduce your debt, save money, and protect yourself against the unknown and unexpected things that life can throw your way. It’s time to get your finances organized.
Today, I share how to spring clean your finances with a series of tips and clear, practical advice. I review how you can clear your debt and start to save more. I share why you need an emergency fund and explain the importance of spring cleaning your paperwork and financial documents. I also explain why it’s important to review your insurance needs and explain how checking your credit score annually can help you find errors and quickly address them.
“Pay off small debts first and get that personal satisfaction of clearing a debt.” - Tracey Bissett
This Week on Young Money:
- How to adjust your goals if you are meeting them.
- How to adjust your goals if you are NOT meeting them.
- Making changes to pay down debt and save more.
- Setting up an emergency fund.
- How to clear up and deal with your financial documents and paperwork.
- Deciding what new insurance you need and what old insurance you don’t.
- How to understand, build, and protect your credit score.
The 5 Steps to Spring Clean Your Finances:
- Review & reset your goals.
- Start new habits.
- Deal with your paperwork.
- Revisit your insurance.
- Check your credit score.
Resources Mentioned:
- EP007 How’s your financial reputation aka your credit score?
- EP041 Striving to be Financially Fit with Monica Da Ponte
- EP059 What is insurance and why do I need it with Deborah Williams
- EP063 Money Mindfulness with Jessica Moorhouse
- EP064 The Magic of Sercy with Emmy Roberts
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP069 How to be financially resilient with Jackie Porter
- EP076 Happy Go Money with Melissa Leong
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can get your finances organized and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Preet Banerjee is the author of the personal finance books Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success and RRSPs: The Definitive Guide to Registered Retirement Savings Plans. He is a personal finance commentator, keynote speaker, and consultant. He trained as a neuroscientist and was a race car driver, before becoming a stockbroker and an index fund wholesaler. Additionally, he is a TED Talk speaker and a contributing author for The Globe and Mail. He also hosted the popular show Million Dollar Neighborhood on the Oprah Winfrey Network.
Preet joins me today to share his five simple rules to financial success and what inspired him to write his book, Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success. He reveals the impact that your emotions can have on your financial decisions and explains why it’s vital to ‘disaster-proof’ your life. He also reveals how making little changes to your saving habits can have a massive effect, debunks some of the most common misconceptions about personal finance, and explains why it’s better to earn interest instead of paying it.
“If you don’t spend less than you earn, then there is no surplus at the end of the day. Then you can’t save for retirement, pay for disability and life insurance, or build up that emergency fund.” - Preet Banerjee
This Week on Young Money:
- Preet’s diverse background and what brought him to personal finance.
- How momentum and curiosity have contributed to Preet’s career path.
- A story demonstrating the things Preet wished he knew when he was younger.
- The role that emotions play in managing finances and debt.
- The inspiration behind writing his book, Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success.
- The five simple rules of financial success.
- What it means to ‘disaster-proof’ your life and why it is vital.
- Preet’s TED TALK and why it's better to earn interest instead of paying it.
- Why investing isn’t one of the five simple rules of financial success.
- The biggest misconceptions of personal finance.
- How to get the Get Your Money Degree course for free.
Preet Banerjee’s 5 Rules for Personal Finance Success:
- Disaster-proof your life.
- Spend less than you earn.
- Aggressively pay down high-interest debt.
- Read the fine print.
- Delay consumption.
Resources Mentioned:
- EP025 True Cost of Car Ownership
- EP029 Buying vs. Leasing a Car
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP044 Dangers of Payday Loans
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP069 How to be Financially Resilient with Jackie Porter
Connect with Preet Banerjee:
- Preet Banerjee website
- Your Money Degree
- Preet Banerjee on Facebook
- Preet Banerjee on LinkedIn
- Preet Banerjee on Twitter
- Preet Banerjee on Instagram
- Preet Banerjee on YouTube
- Preet Banerjee on TED TALK
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Melissa Leong is recognized as one of Canada’s leading personal finance authorities. She is the author of Happy Go Money, a feel-good guide to finances. As a best-selling author and personal finance writer, she has over 15-years of journalism experience ranging from interviewing heads of state, celebrities, and royalty. Additionally, Melissa is the on-air personality and resident money expert of CTV’s leading daytime talk show, The Social and is recognized as one of Canada’s leading personal finance authorities. She is on a mission to help Canadians manage their money while maximizing their happiness.
Melissa joins me today to discuss the critical factors she feels helped her achieve success. She shares the financial lessons she has learned throughout her career, the inspiration for her book, and the connection between happiness and money. She also explains her perspective on spending money to achieve happiness, how to achieve happiness without spending money, and the criteria you should consider before making purchases.
“There is no replacement for hard work. You have talent, you have luck, but you cannot be successful without putting in the hustle.” - Melissa Leong
This Week on Young Money:
- What a typical day looks like for Melissa.
- The key factors she believes have helped cultivate her success.
- Self-publishing a book, building a brand and being resilient.
- The financial lessons she wishes she knew when she was younger.
- The inspiration for writing Happy Go Money.
- The misconceptions and connection between your money and your happiness.
- Three things you can spend your money on that will bring you happiness.
- How to achieve happiness without spending money.
- How to decide if your purchases align with your values.
Key takeaways:
- Think of money as a tool to make you happy.
- Create an emergency fund.
- Don’t take on debt.
Connect with Melissa Leong:
- Happy Go Money
- Melissa Leong on Instagram
- melissaleong.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
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Rob Brown is a personal finance speaker and the author of Wealthing Like Rabbits: An Original and Occasionally Hilarious Introduction to the World of Personal Finance. Released in 2014, Wealthing Like Rabbits became a Canadian bestseller. The book has been featured in multiple publications such as The Globe and Mail, Reader’s Digest, and MoneySense Magazine, and is highly regarded as a must-read book on personal finance. Rob writes a monthly column that appears in the MoneySense magazine and often speaks at universities and colleges about how to manage money better. He is also a frequent speaker at business and trade organizations such as Chambers of Commerce and Sales and Networking groups where he shares the business lessons he has learned as a self-published author.
Rob joins me today to share the inspiration for his book and the financial tips that have helped him find financial stability and success. He explains the vital financial lessons that are essential for students and young adults to learn early on and the benefits of avoiding dumb and excessive consumer debt and comparing yourself to others. Rob also shares the answers to the questions he gets asked most often when speaking to students about debt and saving and why it’s critical to assess the risks and rewards before jumping into investing.
“The discipline of making yourself save a little bit of money every time you get paid is important and developing the habit early on is crucial.” - Rob Brown
This Week on Young Money:
- The inspiration for writing a personal finance book for students and young adults.
- The financial tips that lead to success such as saving, avoiding dumb and excessive consumer debt, and not ‘keeping up with the Jones’s.’
- The financial lessons that Rob teaches now and wishes he knew earlier in life.
- The top 3 tips for young adults that will set themselves up for financial success.
- The benefits of paying off your credit card bill every week.
- The audience questions that Rob gets asked most when speaking to students.
- Why it is important to assess the risks and rewards when investing.
- Why it is vital to look for opportunities and take responsibility for managing your finances.
- What Rob is working on next and the possibility of a new book.
Key takeaways:
- Make financial decisions that are right for you.
- Think about the little day-to-day decisions and how they can affect your life overall.
- Adapt by finding opportunities to spend less money or make more money.
Resources Mentioned:
- EP018 Cashflow Cookbook with Gordon Stein
- EP063 Money Mindfulness with Jessica Moorhouse
Connect with Rob Brown:
- Wealthing Like Rabbits
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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Canadian business owners and entrepreneurs shouldn’t lose sight of the risk of internal and external fraud. The dangers of fraud are real, and it is a misconception to think that fraud only happens to big firms. A business and its employees can be at risk of many kinds of fraudulent crimes. Companies are at even higher risk now that many parts of business operations take place online, so it is vital to protect against cybercrime.
Today, I share 6 tips on how to protect your business from fraud. I reveal the different types of internal and external fraud that entrepreneurs and small to medium-sized business owners should be aware of and stress the importance of keeping your business vigilant against risks. I also share practical tips that any business can implement to protect themselves against fraud.
“As business owners, we owe it to our customers, employees, and to our industry as a whole, to make sure that we are protecting everything related to our business.” - Tracey Bissett
This Week on Young Money:
- The two common sources of fraud.
- Examples of internal fraud and external fraud that business owners should be aware of.
- How entrepreneurs and small to medium-sized businesses can protect themselves against fraud.
- The importance of not losing sight of protecting your businesses.
6 tips on how to protect yourself from internal and external fraud:
- Educate yourself and your employees.
- Implement clear policies.
- Keep detailed, accurate records.
- Hire well.
- Enable whistleblowing.
- Make sure you are covered.
Resources Mentioned:
- Get Cyber Safe Guide for Small to Medium Businesses
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Céline Williams is the Founder and Chief Strategist at reVisionary, a company that helps conscious companies and entrepreneurs develop healthy and successful businesses, in a human-focused way. She is a speaker who values communication, authenticity, and innovation, with 15 years of experience helping Fortune 1000 companies that are experiencing fast growth. Céline has a BA in English Literature, Sociology, Anthropology, and History from the University of Toronto and the University of St. Michael’s College.
Céline joins me today to share her story and love for working in the field of communication, people, and business relationships. She reveals what it takes to become successful and shares the challenges she faced while building her business. She explains how to successfully work in remote teams and shares essential tips for people working in or managing remote teams. She also dispels some of the common myths that surround remote workers and their productivity.
“A really effective team brings together diverse opinions, diverse people, and diverse ways of thinking to create and get to the best outcome.” - Céline Williams
This Week on Young Money:
- Céline’s background and her work that has always drawn on people, relationships, and communication skills.
- What is Change Management and Stakeholder Engagement?
- How building relationships, taking calculated risks, being open to change, and being gentle with yourself are common themes of successful entrepreneurs.
- Her biggest financial challenges when starting a business.
- The critical role of communication and respect when working in a team.
- The advice that Céline would give to team players and team leaders.
- Tips for people who are starting out in a remote team, including checking your assumptions.
- Why it’s vital to be mindful and help remote workers feel part of the team.
- The common misconceptions that surround remote workers.
- What Céline is working on right now.
Key takeaways:
- Communicate.
- Work towards a shared vision.
- Have respect, which doesn’t equate to agreement.
- Bring together diverse people and diverse ways of thinking.
- Listen more and ask more questions.
- Use the tools available for remote communication.
- Check your assumptions.
- Find out what the expectations are.
Connect with Céline Williams:
- reVisionary
- Céline Williams on LinkedIn
- reVisionary on Facebook
- reVisionary on Instagram
- reVisionary on Twitter
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Many people have heard of or become interested in the opportunities offered by Multi-Level Marketing companies (MLM), also known as pyramid selling, network marketing, and referral marketing. This strategy for selling products or services sees the revenue of the MLM company coming from a non-salaried workforce, who in turn earn through a pyramid-shaped or binary compensation commission system, as well as through encouraging new people to join. If you have witnessed friends navigate an MLM arrangement, then you may be wondering if an MLM is an appropriate opportunity for you.
Today, by special request, I am sharing insights into how Multi-Level Marketing systems work and the questions to ask to understand the opportunities offered. I reveal the type of person that MLMs will and will not suit and a series of questions that are vital to ask before enrolling in an MLM contract. I also explain what research you should do on an MLM company and stress the importance of understanding the terms and conditions of the company’s agreement.
“If entrepreneurship is not something you have aspired to or are attracted to, then participating in an MLM is probably not for you.” - Tracey Bissett
This Week on Young Money:
- Why it is vital to recognize that when you participate in an MLM you are starting a business.
- Traits that indicate that you may be suited for an MLM role.
- The study and research that you should conduct before deciding to enroll in an MLM.
- The questions to ask to find out if an MLM is the right opportunity for you.
- How to decide what level of contract works for you.
- How the commission structures work.
- Why it is important to know the facts before you sign an agreement.
The Questions to Ask:
- Do you have the traits suited to this role?
- Do you like the company, its products, and what it stands for?
- What is your financial commitment at the beginning, throughout, and if you want to get out?
- How will you make money?
- Who will you be working with?
- What do the legal documents say?
Get Your Young Money Questions ANSWERED!
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Remember - there is no silly question when it comes to your financial fitness.
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Dr. Jordin Wiggins is the Founder of Health Over All Inc., a clinic focused on treating women’s health concerns with personalized care plans. She is a doctor of Naturopathic Medicine and focuses on a whole body and whole health approach to addressing the root cause of health issues. She has a Bachelor of Naturopathy and Naturopathic Medicine from the Canadian College of Naturopathic Medicine and a First-Class Honors Bachelor’s Degree in Health Science from Brock University.
Jordin joins me today to share her inspiration for starting her business and going beyond the ‘take this pill’ approach to treating women’s health issues. She reveals the mindset and perseverance that has made her an entrepreneurial success and shares the financial challenges of starting a business and finding financial support after leaving higher education with student debt. She also shares her views on finding happiness by focusing on your health and well-being.
“Doing more of what works and stopping doing what doesn’t, makes a big difference to business financials.” - Dr. Jordin Wiggins
This Week on Young Money:
- The inspiration for starting her business and how it is treating and giving hope to women.
- How Dr. Wiggins divides her week between marketing, business growth, development, and seeing patients.
- The cause for her success, why she wanted to be a medical practitioner, and why she changed her path to become a naturopathic doctor.
- How perseverance, passion, a results-oriented mindset, and not compromising have brought business success.
- The difficulties of getting a loan to start the practice after building up eight years of student debt.
- Why building a support system and speaking to entrepreneurs in the same field is crucial for starting and running a business.
- Why it's crucial to find and hire people who can see your vision and be true to your values.
- The mindset and what patients are looking for when they visit her clinic.
- The common health and life-challenges that young adults are facing.
- Why it's crucial for people to focus on health and wellness to find happiness and fulfillment.
Key takeaways:
- Find the right people who share your vision to support you in your business.
- Trust your gut.
- It’s your business, so make your own decisions.
Resources Mentioned:
- EP066 Living Debt-Free with Shannon Lee Simmons
- EP062 What is your Money Mindset?
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- Worry-free Money by Shannon Lee Simmons
Connect with Jordin Wiggins:
- Health Over All
- Dr. Jordin Wiggins on Instagram
- Dr. Jordin Wiggins on Facebook
- Dr. Jorin Wiggins on LinkedIn
- Health Over All on Instagram
- Health Over All on Facebook
- Health Over All on LinkedIn
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It can be challenging to prepare and find effective ways of planning for your future. In particular, people find it hard to plan for buying their first home or re-starting their education at a later time. Young adults may understand that starting early to plan their financial future is critical, but it is also vital to understand the financial planning options and programs that are available to Canadians.
Today, I’m sharing a short, targeted program on RRSP withdrawal programs. I reveal what a Registered Retirement Saving Plan is, how they work, and explain how an RRSP is established with the Canada Revenue Agency, by you, your spouse, or your common-law partner. I share how you can withdraw funds from a RRSP to build or buy a qualified home through a program known as a Home Buyers’ Plan (HBP). I also share how the Lifelong Learning Plan (LLP) can be used to fund your education or retraining.
“If home ownership is a goal, then you should get your RRSP started as early as possible.” - Tracey Bissett
This Week on Young Money:
- A recap of what an RRSP is and how it works.
- A refresher of what a TFSA is and how it works.
- The requirements and eligibility for participating in the Home Buyers’ Plan.
- How to find more details about re-qualifying as a first-time home buyer.
- What happens if you haven’t built or bought a home within the specified period.
- When HBP repayments begin and the option and benefits of beginning payments early.
- Why it is crucial to start contributing to an RRSP as young as possible.
- How the Lifelong Learning Plan can finance your education and the eligibility criteria.
- The amount that can be withdrawn from an LLP and repayment terms.
- The important dates for an RRSP, HBP, and LLP in 2019.
Resources Mentioned:
- Canada Revenue Agency
- EP019 TFSAs vs. RRSPs
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Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Jackie Porter is one of Canada’s most recognized, award-winning financial planners, the founder of Ask Jackie, and the co-author of Single by Choice or Chance: The smart woman’s guide to living longer, better. She has worked in the financial services industry for nearly 20 years, serving thousands of families, businesses, and professionals in the Greater Toronto Area. She has been featured in various publications including Wealth Professionals, Investment Executive, Forum, and The Globe & Mail and has shared actionable, easy-to-understand advice at business conferences as well as on TV, radio, and through the podcast medium.
Jackie joins me today to discuss the importance of financial resiliency and how you can put a plan in place to become financially resilient. She discusses the uncertainty and disruptiveness of modern times and explains how you can put a financial plan in place to prepare for the unexpected. She also explains the importance of living below your means, developing a savings plan, and why people should plan for future events, such as starting a family and getting married.
“Expect uncertainty; expect disruption and build a fortress around your finances so you can be more equipped to deal with life’s setbacks.” - Jackie Porter
This Week on Young Money:
- How Jackie helps people understand their finances.
- The meaning of financial resilience and why it is essential to be prepared for disruption and uncertainty.
- How to build a fortress around your fortune and make the most of the resources you have.
- Strategies to improve your financial resiliency.
- Why it is crucial for women to review their finances and plan for retirement.
- Why you should live below your means and include a savings element in your financial plan.
- Common myths and misconceptions regarding financial resilience.
- Why you should consider the best-case and worst-case scenarios when creating your financial plan.
Key takeaways:
- Be prepared for uncertainty.
- Think bigger and think long term.
- Pay attention to the financials of the company that employs you.
- Live below your means.
- Be a keen observer of what is going on and take responsibility.
- Spend money on what you value.
Resources Mentioned:
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
Connect with Jackie Porter:
- Ask Jackie
- Jackie Porter on Twitter
- Jackie Porter on Facebook
- Jackie Porter on LinkedIn
- Jackie Porter on Instagram
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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As young millionaires-in-the-making, it’s critically important to master the art and skill of managing your money and understanding your finances. Whether you’re a student, recent graduate or entrepreneur your financial literacy is key to building a future of financial success.
It’s the key that unlocks the feeling of freedom, empowerment, and financial fitness.
On today’s episode, I share how I help young adults and entrepreneurs unlock their financial fitness. I share how I work with young adults, parents, educators, financial institutions and entrepreneurs improve their financial literacy. I also share the various ways you can begin working with me in 2019 on your journey toward financial fitness.
“The mission of Bissett Financial Fitness Inc. is to make the world a more prosperous, empowering, and financially fit place by advancing people and business owners into positions of financial knowledge, confidence, and power.” - Tracey Bissett
This Week on Young Money:
- The mission of Bissett Financial Fitness Inc. and my goal to increase the level of financial literacy for young adults and entrepreneurs.
- My role at Centennial College and how I teach graduate and undergraduate students about the financial services sector.
- How I leverage my prior experience in commercial banking, loan structuring, and risk management consulting with financial institutions and credit unions.
- How I work with the Business Development Bank of Canada, private clients, small business owners, and entrepreneurs to increase their financial acumen.
- Details of the upcoming launch of The Twelve-Month Money Planner for young millionaires-in-the-making.
- The training that I offer for young adults, entrepreneurs and business owners.
How to Work with Me in 2019:
- Continue to listen to the Young Money podcast.
- Take advantage of The Twelve-Month Money Planner for Young Millionaires in the Making - coming soon!
- Invite me to speak to groups of young adults, entrepreneurs and young adult entrepreneurs.
- Check out my strategy packages for entrepreneurs and business owners.
- Stay tuned for live and online course offerings for young adults and entrepreneurs.
Resources Mentioned:
Bissett Financial Fitness Inc.
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Financial lessons can be found in many things and there are a lot of people, groups, and businesses who can be viewed as a source for inspiration. Musicians, bands, and celebrities are a great example of this. To find long-term success, they need to employ a variety of skills and have an attitude that will ultimately end in financial rewards and personal happiness.
Today, I share 5 financial lessons we can learn from Maroon 5 and lead singer, Adam Levine. I explain why it’s important for entrepreneurs and investors to stay focused on their long-term goals, even in a volatile market. I share why you need to be adaptable and willing to try new things and the impact that showing gratitude, appreciating what you have, and giving back to your community can have on your financial success. I also explain why it’s important for entrepreneurs to align their passion with their values and how it impacts their ability to achieve financial fitness.
“When you align your passions and your values, and you’re able to make your best contributions, the money is going to follow.” - Tracey Bissett
This Week on Young Money:
- Why long-term focus is vital to entrepreneurs and career professionals.
- Why long-term focus is crucial for your investment portfolio.
- Why you need to be adaptable, try new things, and willing to make changes.
- How your ability to collaborate impacts your adaptability.
- The importance of becoming a master of the side hustle and how it impacts your ability to achieve financial success.
- How focusing on what you love and the things you’re passionate about can help you achieve your financial goals.
- The importance of showing gratitude and appreciation for the things you have.
- The different ways to give back including through your time, talent, and treasures aka financial resources and how giving back can enrich your life.
5 financial lessons learned from Maroon 5:
- Maintain a long-term focus.
- Be adaptable.
- Focus on love.
- Show gratitude.
- Give back.
Resources Mentioned:
- EP017 Super Bowl's Musical Talent - Justin Timberlake & Lady Gaga
- EP024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP035 How to Prepare for a Side Hustle with Jeet Banerjee
- EP061 Bstellar with Stacey Ann Berry
- EP063 Money Mindfulness with Jessica Moorhouse
- EP065 Colleen O'Connell-Campbell shares lessons learned from I'm a Millionaire! So Now What?
- Girls Like You ft. Cardi B - Maroon 5 YouTube Video
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Shannon Lee Simmons is the Founder of the New School of Finance, an unbiased advice-only financial planning school. Shannon is a Certified Financial Planner, a Chartered Investment Manager, and a public speaker. She is the celebrated author of the national bestseller Worry-Free Money and has penned a new book called Living Debt Free: The No Shame No Blame Guide to Getting Rid of Debt. Shannon is a financial expert on The Marilyn Denis Show and a columnist for CBC’s On the Money and Metro Morning. She has a BAH in Economics and Finance from Queen’s University.
Shannon joins me today to discuss her new book, which details a practical approach to eliminate debt and work toward living debt-free. She shares the principles of her plan to help people out of debt which includes key strategies and a step-by-step approach that will help you quickly clear your debt. She also shares several vital components of financial planning including creating a ‘Debt Map’ and why ‘Debt Stacking’ is the most efficient approach to reducing debt.
“Mapping out your debt is the first step to getting debt-free. After all, you can’t tackle a problem unless you know what the problem is.” - Shannon Lee Simmons
This Week on Young Money:
- The inspiration behind Shannon’s latest book, Living Debt-Free: The No Shame No Blame Guide to Getting Rid of Debt.
- Why it’s essential to recognize how and why you got into the debt loop.
- How reframing your debt and having a perspective switch will be motivational and help you keep going.
- The key strategies for dealing with debt.
- Why you should create a ‘Debt Map’ when multiple debts exist and how to prioritize it.
- How to figure out what amount of money you can realistically put towards clearing your debt.
- How to ensure you don’t suffer debt fatigue and why your repayments need to be palatable.
- What ‘Debt Stacking’ means and why it’s the fastest and most effective way to clear your debt.
- How consolidation and using your spare savings are two ‘Debt Slammers’ that will help reduce stress and make your debt more manageable.
- Why you should continue to build emergency savings and avoid becoming one of the 90% that give up on clearing their debt when a surprise financial expense occurs.
- The most common misconceptions that surround debt and the emotional elements to consider when creating a financial plan.
Shannon Lee Simmons’ Advice for Living Debt-Free:
- Create a map of your debt.
- Figure out the amount that you can put towards clearing your debt.
- Tackle one debt at a time and prioritize it with the highest interest rate.
- After the first debt is cleared, use those saving to clear the next debt.
- Consolidate your debt to the lowest interest rate.
- Take spare money out of your savings and use it to lower your debt.
- Continue to build an emergency fund.
Resources Mentioned:
- EP057 Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP045 Stop Feeling Broke with Shannon Lee Simmons
- Gail Vaz Oxlade
Connect with Shannon Lee Simmons:
- Shannon Lee Simmons website
- New School of Finance
- Living Debt-Free: The No Shame No Blame Guide to Getting Rid of Debt by Shannon Lee Simmons
- Worry-Free Money: The guilt-free approach to managing your money and you life by Shannon Lee Simmons
- Shannon Lee Simmons on LinkedIn
- New School of Finance on LinkedIn
- Shannon Lee Simmons on Facebook
- New School of Finance on Facebook
- Shannon Lee Simmons on Twitter
- New School of Finance on Twitter
- Shannon Lee Simmons on Instagram
- New School of Finance on Instagram
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Colleen O’Connell-Campbell is the lead of O’Connell-Campbell Wealth Management at RBC Dominion Securities Inc. She specializes in creating financial plans and strategies for wealthy families, self-made millionaires, and entrepreneurs spend, save and share their wealth. Colleen is the host of the podcast I’m a Millionaire! So Now What? She has a Bachelor of Commerce from Carleton University and has worked in banking and financial planning since 1994. Colleen is a mother of two and is passionate about local causes and her community.
Colleen joins me today to share how she is helping families find financial fitness through budgeting, planning, saving, and investment. She reveals the questions that she asks when creating a financial goal, along with the common themes and mindset that will help people find financial fitness. Colleen introduces her podcast, the topics it explores, and the types of experts featured on the show. She also shares the common traits that she has noticed in entrepreneurs and wealthy families and balances the conversation by considering what makes people happy.
“The amount of money you have doesn’t indicate how financially literate you are, so we boil things down into simple everyday terms and ask straightforward questions.” - Colleen O’Connell-Campbell
This Week on Young Money:
- Colleen’s day-to-day work in helping families find financial fitness including creating budgets, spending plans, saving strategies, investment, and sharing/charitable donations.
- The questions that Colleen asks people to help plan their financial future and accomplish their goals.
- The topics explored and the types of experts that are featured on the I’m A Millionaire! So Now What? Podcast. Guests include: W. Brett Wilson, Kelsey Ramsden, Anu Bidani and Hilda Gan.
- The common themes and mindsets that have helped Colleen find success.
- The challenges that Colleen has overcome and the advice that she wished she had when she was younger.
- The key success factors and behaviors that entrepreneurs and wealthy families have as a group including having a purpose and a why.
- Why it is important to be grateful for what you have, not compare yourself to others, and truly understand what will make you happy.
- Find out Colleen’s New Year’s Resolution – check out her big, bold promise here.
Three Themes that lead to success:
- Have tenacity and perseverance.
- Be curious, think big, and act bigger.
- Maintain personal and professional support or go out and get it if you don’t have it.
Resources Mentioned:
- EP059 What is insurance and Why do I Need it with Deborah Williams
- EP061 Bstellar with Stacey Ann Berry
- The Soul of Money: Reclaiming the Wealth of our Inner Resources by Lynne Twist
Connect with Colleen O’Connell-Campbell:
- Colleen O’Connell-Campbell
- I’m a Millionaire! So Now What?
- Colleen on LinkedIn
- Colleen on Facebook
- Colleen on Twitter *(tweets are my own! Not endorsed by RBC DS)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Emmy Roberts is the Co-Founder of Sercy LLC, a company that curates gifts online to spread kindness ‘one gift at a time.’ She is responsible for the marketing strategy and social media platforms for the company and works closely with suppliers and small businesses that share the company’s mission. Initially starting as an intern, Emmy works with the Product Development team of E by Design, a home textile print-on-demand company. In 2020, Emmy expects to graduate from the Queens University of Charlotte with a Bachelor of Arts in Studio Art. She is also a Young Elite and completed the Young Elites Leadership Summit, a program that helps young women build confidence, leadership skills, and life skills.
Emmy joins me today to share her passion for kindness and Sercy’s mission for spreading more kindness throughout the world. She describes the business model used to create the company and how being open to new opportunities to gain experience has contributed to her success. She shares the challenges she faced regarding finances and learning how to budget as well as the lessons she has learned on what to do and - not do - when undertaking your first entrepreneurial endeavor. She also explains the Kindness Experiment and shares how you can nominate someone important to you for a kindness gift.
“If you’re not really kind to yourself, it’s really hard to be kind to other people. Kindness - a lot of times - starts with you.” - Emmy Roberts
This Week on Young Money:
- Sercy’s business model, ethos, and how the company got started.
- The key factors that have led to her career success.
- The financial challenges that she has faced regarding budgeting and money management.
- What “sercy” means. (Hint: It is not Cersei from Game of Thrones)
- What the Kindness Experiment is and how you can participate.
- How Emmy learned about business fees, costs, and insurance from her entrepreneurial mother.
- The importance of being passionate about your business as a new entrepreneur.
- The importance of overcoming fear and taking risks.
- Why it’s critical for entrepreneurs to know their finances and do their research.
- How being kind to yourself can impact the world around you.
Key takeaways:
- Take the opportunities presented to you - be unapologetically bold!
- Love what you are doing - put your full self into it.
- Know what you want to do and research it.
- Make sure you know your numbers.
- Be smart about using the money that you make.
- For spreading kindness: kindness starts with you, do 1 small act a day and the little things go a long way.
Connect with Emmy Roberts:
- Sercy.com
- Sercy on Instagram
- Sercy on Twitter
- Sercy on Facebook
- Emmy Roberts on LinkedIn
- Take The Sercy Kindness Experiment
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
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Jessica Moorhouse is a millennial money expert, host of the Mo’ Money Podcast, and the founder of Millennial Money Meetup, a financial literacy event for young Canadian adults. She is an Accredited Financial Counselor Canada®, a public speaker, an award-winning finance blogger and appears as a regular guest on CTV’s Mind the Gap. Additionally, she is frequently featured in publications such as the Huffington Post, The Globe and Mail, Yahoo Finance, and Metro News.
Jessica joins me today to share how she helps people in financial debt to build their financial confidence and improve their money mindfulness. She explains what Money Mindfulness is and highlights the six steps of her Money Mindfulness Challenge. She also shares her experiences of tracking finances and adjusting her spending habits and explains how many millennials are following a new trend of shopping minimalism.
“Once you educate yourself, you arm yourself with that knowledge. You also then get rid of this crazy anxiety and fear that so many people feel.” - Jessica Moorhouse
***This Week on Young Money:***
- Her journey into financial literacy advocacy.
- How she helps people work through financial debt and build financial confidence through advocacy and personal finance counseling.
- What is money mindfulness and why is it important for people to track their money and introduce new financial spending habits.
- How millennials are moving away from the idea of consumerism and moving towards a trend of minimalism, shopping detox, and owning only the things that they need or love.
- The six steps of the Money Mindfulness Challenge.
- How to gain financial clarity by calculating your net worth.
- What it’s like to take the Money Mindfulness Challenge and the changes you will feel in your life.
- Tips for making money mindfulness a habit in your life.
-
How Jessica’s new course “Investing Foundations for Canadians” helps you easily understand how to start investing.
The 6 Steps of the Money Mindfulness Challenge:
- Make a plan for your finances - consistently track your spending and your net worth.
- Look at your spending to find your problem areas.
- Get a post-it and write down the top three things that you overspend on.
- Delete any investment apps on your phone.
- Check your credit score.
- Join Jessica’s Facebook group.
Resources Mentioned:
- EP012 The Financial Cost of Comparisonitis with Rachel Brownlow Lund
Connect with Jessica Moorhouse:
* JessicaMoorhouse.com
- Millennial Money Meetup
- Mo’ Money Podcast
- Jessica Moorhouse on Facebook
- Jessica Moorhouse on Instagram
- Jessica Moorhouse on Twitter
- Jessica Moorhouse on YouTube
- Jessica Moorhouse on Pinterest
-
Jessica Moorhouse on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
People think about money in different ways. Our relationship, interpretation, and interaction with money play a significant role in our money mindset. Your views on money might have been created during childhood, but the people that you are closest to can also affect the way that you feel about it.
So, how do you change the way you think and feel about money? How do you shift your thoughts from a “scarcity” point of view to a mindset based on abundance and gratitude?
Today, I explain what ‘money mindset’ is and share the two primary mindsets most people have regarding money and finances. I explain how your mindset around money impacts your daily financial decisions and ability to achieve your financial goals and explain the difference between a scarcity mindset versus an abundance mindset. I also share how you can assess your money mindset through personal reflection and discuss ways that you can manage your relationship with money through a series of strategies designed to change your money mindset.
“Your life is meant to be lived consciously and joyfully - and a big part of that is being able to manage your relationship with money.” - Tracey Bissett
This Week on Young Money:
- How to interact with and think about money, and is it good or bad?
- What is a money mindset?
- How the scarcity money mindset looks, feels, and impacts your life.
- What it means to have an abundance mindset regarding money.
- Strategies you can use to change your money mindset.
- How to determine if your money mindset is based on scarcity or abundance.
- The importance of knowing your worth.
- How forgiving your financial past impacts your money mindset.
- The importance of changing the “money story” you tell yourself.
Strategies to Create a Money Mindset of Abundance:
- Practice gratitude.
- Carefully select the company you keep.
- Create space.
Resources Mentioned:
- EP012 The Financial Cost of Comparisonitis with Rachel Brownlow Lund
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
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Stacey Ann Berry is the founder and CEO of Bstellar Consulting Group, an organization dedicated to helping individuals, private companies, and non-profit organizations develop the soft skills and community they need to thrive in business through interactive workshops and consulting services. She is a published author and highly sought-after speaker who has presented engaging and inspiring keynotes at world-renowned institutions such as Ryerson University, York University’s Schulich School of Business, and the University of Toronto as well as a virtual presentation for SheEO World’s Online Learning Lab.
Stacey has received multiple awards and recognition for her excellent services and support, including the Outstanding Contribution to Student Experience Award by York University, the Women of Courage - Young Leaders Award by the Endless Possibilities and Hope Development Organization, and one of the top 100 Accomplished Black Canadian Women.
Stacey joins me today to share her journey as an “accidental entrepreneur.” She explains the importance of nurturing relationships, being prepared, persistence and staying open to learning new skills. She also shares how she helps entrepreneurs and organizational leaders develop communities and manage large projects, her biggest financial revelations, and why she believes community service and volunteering helps you add value, build your legacy, and allows you to build a meaningful life.
“Giving back is a good way to add value and meaning to your life. It’s also a good way to utilize your skills.” - Stacey Ann Berry
This Week on Young Money:
- What inspired her to start Bstellar.
- The community development and project management aspects of her company.
- The success principles that have helped her accomplish her goals.
- Her most significant revelations regarding her finances.
- Why community service, giving back, and volunteering are important to her.
- The key pillars of community work, volunteering, and keeping people engaged.
- How to find your passion and give back to humanity.
- The release of her new book and what inspired her to write it.
Stacey Ann Berry’s Success Principles:
- Be persistent and follow-up.
- Be prepared. Stay ready so that you don’t have to get ready.
- Nurture relationships and give without expectation.
Resources Mentioned:
- EP038 Investor Spotlight Part 1
- EP039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP059 What is insurance and Why do I Need it with Deborah Williams
Connect with Stacey Ann Berry:
- Staceyannberry.com
- Bstellar Consulting Group
- Email: info@bstellargroup.com
- Bstellar Consulting Group on Instagram
- Deeper Reflections of Life on Instagram
- Bstellar Consulting Group on Twitter
- Bstellar Consulting Group on Facebook
- Stacey Ann Berry on LinkedIn
- Bstellar Poem
- Deeper Reflection of Life: Words to Inspire the Heart & Uplift the Soul
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes.
Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
The Young Money Podcast is one year old, and the feedback and reviews I’ve received from my listeners have truly been heartwarming. Over the last year, it has been my privilege to help young millionaires-in-the-making demystify personal finance concepts and learn strategies to become financially fit through the stories, insights, and successful entrepreneurs we have featured on the show.
On today’s special episode, I answer some of your most pressing questions on money and finance. I explain the difference between government and non-government student debt, why you should not comingle these types of debt, and strategies you can use to evaluate and consolidate your debt. I explain how university students can still apply for scholarships, even after they’ve started their post-secondary education. I also share what you should consider when taking out a line of credit and how some outstanding lines of credit can impact your ability to qualify for certain loans.
“Certainly, when you graduate school - whether it’s college, university, whatever it may be - you want to do an evaluation of how much debt that you do have.” - Tracey Bissett
This Week on Young Money:
- Why you should not comingle government debts, like OSAP, with non-government debt from financial institutions.
- The types of scholarships post-secondary students can apply for and how they differ from those you apply for before entering a post-secondary school.
- What to consider regarding lines of credit.
- How an outstanding line of credit could impact your ability to qualify for certain loans.
- Best practices for consolidating debt and how to determine when to cancel your line of credit.
Resources Mentioned:
- Caller #1’s question: Episode 52: The Debt Free Graduate with Murray Baker
- Caller #2’s question:
-
- Episode 30: Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- Episode 42: Best of Tips for Postsecondary Education
- Episode 48: Increasing Access to Post Secondary Education with Shelley Clayton
- Caller #3’s question: Episode 56: Back to Basics – The 5Cs of Credit
Get Your Young Money Questions ANSWERED!
Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.
Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review, just follow these easy steps :
STEP 1: Go to the iTunes page for the Young Money with Tracey Bissett here
STEP 2: Click the “View in iTunes” button.
STEP 3: Once iTunes has launched, you will see the Young Money with Tracey Bissett podcast thread. Click the ‘SUBSCRIBE’ button (if you have not already subscribed). You’ll be asked to sign into your iTunes account. Then click on the ‘Ratings and Reviews’ tab.
STEP 4: Click on the ‘Write a Review’ button. You must be logged in to write a review.
STEP 5: Rate the podcast by selecting between 1 to 5 stars, leave a review, and click ‘Submit’.
Your review will go through an approval process and can be viewed within 48 hours (if approved).
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Are you prepared for a financially fit holiday season? Since Halloween, we have been bombarded with holiday decorations, advertisements, and sales to prod us into the holiday spending spirit. What does this mean for you, and what actions can we take?
On today’s episode, I share with you some key economic realities for Canadians and provide tips to help you prepare and maintain your financial fitness during this giving season. I’ll also explain what influences people’s spending decisions and why it’s important to create a list and maintain a budget, especially during the holiday season.
“Year over year, prices are the main driver of how people are choosing to spend their money” - Tracey Bissett
This Week on Young Money:
- The reality of financial stability for most Canadians
- The evolution of gift giving
- Where the consumer’s money goes and how it breaks down
- What influences spending decisions, and shopping habits
- The importance of creating a list and a budget
- Looking for unforeseen costs
- What starting new traditions can provide
- Planning ahead and what pacing can do for you
Key Takeaways:
- Set a budget - and stick to it.
- Start a new tradition.
- Plan ahead.
Get Your Young Money Questions ANSWERED!
Want to learn more about how you can stay financially fit this holiday season? Leave a voice message to get all of your Young Money questions answered. Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast – the advice show for young millionaires-in-the-making! If you enjoyed this week's episode, head over to iTunes and leave us a rating and review. Don't forget to share your favorite episodes on social media!
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Deborah Williams has 20 years of experience in the Capital Markets and Financial Services industry with a focus on retirement planning, real estate and commercial lending, and trading derivatives. She is a financial services expert and a Professor at The Business School at Centennial College where she also coaches the Financial Planning Case Competition teams. Recently, her team won the Canadian Institute of Financial Planning Regional and National Championships. She has an MBA in Finance and Marketing from the University of Toronto – Rotman School of Management and has an Honours Co-op Bachelor of Environmental Studies, Urban and Regional Planning from the University of Waterloo. She is a member of the Desjardins Financial Security Independent Network and sits on the board of multiple local organizations including the Caribbean Chinese Association.
Deborah joins me today to discuss what insurance is and why you need it. She explains the difference between life insurance, critical illness insurance, disability insurance, and long-term care insurance and when you might need them. She highlights which insurances you should consider when you start your career as well as when you are in your 30s, 40s and beyond and demystifies many of the misconceptions about insurance and purchasing insurance policies.
“Get your basic insurance coverages outside of your employer. Look at what you get from your employer as a bonus.” - Deborah Williams
This Week on Young Money:
- Deborah Williams’s background and day-to-day work activities.
- An explanation of the kind of insurance you will need in life and death.
- A breakdown of life, critical illness, disability, and long-term care insurance.
- The differences between permanent insurance and term insurance.
- Why people should care about getting insurance.
- The value of long-term care coverage.
- The first insurances that young people should consider at the start of their career.
- How insurance needs change as you move from your 30s to 40s and beyond.
- The biggest misconceptions about insurance.
- What Deborah is working on now.
Questions to Consider When Purchasing Insurance:
- What do I need in life?
- What do I need in death?
- How can I make the most of my employer benefits?
- How do I maximize and protect myself if I leave my employer?
Connect with Deborah Williams:
- Desjardins
- Deborah Williams on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website
Many people struggle to deal with financial planning and debt, leading to high levels of stress and anxiety. Struggling with your finances can affect all parts of your life, and it can be hard to reach your life goals when you are dealing with such a burden. If financial planning or debt is affecting you, then you are not alone. Canadians have more debt than ever before, and half of all Canadians couldn’t meet their financial obligations if their paycheck were delayed by even one week.
November is Financial Literacy Month in Canada. On today’s episode, I discuss how The Financial Consumer Agency of Canada(FCAC) is raising awareness and educating people so that they can increase their financial acumen. I share my thoughts on the fundamental life skill that you need and how creating an effective financial plan can help you get out of debt. I also reveal how you can begin to invest in your financial well-being, make a budget, and start a savings plan.
“When you understand what’s important to do, how you are doing it, and how to move ahead - you can tackle anything.” - Tracey Bissett
This Week on Young Money:
- What it means to invest in your financial well-being.
- Creating a plan to pay off your debt.
- How to make informed financial decisions.
- Why you should start good habits early.
- How to take control of your finances.
- What having a plan to reduce your debt means.
- My financial values and what motivated me to make money.
- Strategies I used to make money at an early age.
How to take control of your finances:
- Invest in your financial well-being and have control over your week to week and month to month finances.
- Have a plan to pay off debt.
- Make informed decisions.
- Start good habits early - seize the day.
- Take control of your finances - be courageous and take that first step.
Resources Mentioned:
- Follow #FLM2018 on social media to find out more great tips and resources.
- Additional episodes to learn more on tip #1 Invest in your financial well being
-
- EP011 - Financial Fitness Tips for the Holidays
- EP012 - The Financial Cost of Comparisonitis with Rachel Brownlow
- EP018 - Cashflow Cookbook with Gordon Stein
- EP032 - David Jenkins on Investing with TheAnswerls
- EP033 - Investing Basics
- Additional episodes to learn more on tip #2 Have a plan to pay off debt
-
- EP024 - Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- EP034 - Jeremiah Brown The 4 Year Olympian
- EP041 - Striving to be Financially Fit with Monica Da Ponte
- Additional episodes to learn more on tip #3 Make informed decisions
-
- EP029 - Buying vs. Leasing a Car
- EP039 - Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- EP033 - Investing Basics
- EP047 - Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- EP019 - TFSAs vs. RRSPs
- EP007 - How's Your Financial Reputation aka Your Credit Score?
- Additional episodes to learn more on tip #4 Start good habits early
-
- EP008 - To Rent or Buy with Alexandra Cote of Sandra Rinomato Properties
- EP038 - Investor Spotlight Part 1
- EP040 - Investor Spotlight Part 2
- EP002 - Out of the Mouths of Young Money Masters
- Additional episodes to learn more on tip #5 – Take control of your finances
-
- EP045 - top Feeling Broke with Shannon Lee Simmons
- EP035 - How to Prepare for a Side Hustle with Jeet Banerjee
- EP052 - The Debt Free Graduate with Murray Baker
- EP057 - Bankruptcy and Consumer Proposals 101 with Doug Hoyes
- EP054 - Rich is a State of Mind with Robert Gignac
- EP006 - What are Your Intentions ... Financially Speaking with Jackie Porter?
- Financial Consumer Agency of Canada
- Financial Literacy Month
- FCAC Budget Calculator
Get Your Young Money Questions ANSWERED!
Want to get all of your Young Money questions answered? Leave a voice message here and start your journey to invest in your financial well-being this FLM2018.
Remember - there is no silly question when it comes to your financial fitness.
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Doug Hoyes is the co-founder of Hoyes, Michalos & Associates Inc., a personal insolvency firm that helps consumers in need of debt relief. He is a passionate advocate for ensuring that people find the right solutions to their debt problems. Doug has a BA from the University of Toronto and is a Chartered Professional Accountant and Licensed Insolvency Trustee. He is the author of Straight Talk on Your Money: The Biggest Financial Myths and Mistakes…and How to Avoid Them, hosts the popular Debt Free in 30 weekly podcast and regularly comments in media publications such as the Globe and Mail, Global News, CBC, and BNN Bloomberg.
Doug joins me today to explain the difference between consumer proposals and bankruptcy. He explains the work of a licensed insolvency trustee and how they help individuals find legal debt solutions. He explains the concept of garnishments and how they work as well as when to consider seeking a consumer proposal or filing for bankruptcy. He also shares sound advice surrounding debt and dispels the misconceptions that people may have regarding debt, bankruptcy, and consumer proposals.
“Bankruptcy is very punitive - if you have the potential to earn more money.” - Doug Hoyes
This Week on Young Money:
- Doug’s background and the creation of Hoyes, Michalos & Associates.
- What is a licensed insolvency trustee?
- What he credits his success to and the lessons he has learned.
- What a consumer proposal is and who might need one.
- An explanation of garnishments.
- How bankruptcy compares to a consumer proposal.
- How people feel after arranging a consumer proposal or filing for bankruptcy.
-
The misconceptions people have about consumer proposals and bankruptcy.
Doug Hoyes' Tips to Become Debt-Free:
- Do the math.
- Get help if the debt is insurmountable. Debt problems do not go away on their own.
- Remember that you are not alone.
Connect with Doug Hoyes:
-
Hoyes, Michalos & Associates
- Hoyes, Michalos & Associates on Facebook
- Doug Hoyes on Twitter
- Hoyes Michalos on Twitter
- Doug Hoyes on LinkedIn
- Hoyes Michalos on LinkedIn
- Hoyes Michalos on Youtube
- Debt Free in 30 podcast
-
Straight Talk on Your Money: The Biggest Financial Myths and Mistakes…and how to Avoid Them
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Almost everyone will need to make use of credit at some point in their lives, whether it’s by applying for a loan, credit card or a line of credit. There are many things that lenders take into account when you apply for credit, and the assessment of these will result in either a positive or negative lending decision.
Today, I am sharing insights into how a bank decides whether or not to give you a credit card, loan, or line of credit. I explain the 5Cs of credit and the evaluation process that takes place when you apply for credit from financial institutions or retail stores. I also share some best practices to help you stay on top of your finances and obligations.
“Character is often the big decider as to whether or not money is lent.” - Tracey Bissett
***This Week on Young Money:***
- Understanding your debt service capacity and the Total Debt Service Ratio (TDSR).
- How lenders score your financial reputation aka your credit score.
- What role your character plays in the decision making process.
- How lenders calculate your capital net worth.
-
What is collateral and its effect on the lending decision?
The 5Cs of Credit:
-
Capacity – can you pay back the money?
- Credit history – do you have a history of using credit responsibly?
- Character – what will you do when no one is looking?
- Capital – what is your capital net worth?
-
Collateral – what security do you have to provide?
Best Practices:
-
Check your credit score annually and address any errors with Transunion or Equifax.
- Manage your finances and obligations in a way that you are proud of.
-
Calculate your capital net worth annually - all your assets minus all your liabilities. If your capital net worth is getting bigger or less negative from the last time you calculated it, you are on the right track.
Resources Mentioned:
-
Send a voice message to Young Money podcast
- EP007 - How’s Your Financial Reputation aka Your Credit Score?
- EP018 - Cashflow Cookbook with Gordon Stein
- EP023 - How to Protect Yourself from Fraud
-
EP037 - Cohabitate in a Financially Fit Way
Get Your Young Money Questions ANSWERED!
Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered. Remember - there is no silly question when it comes to your financial fitness.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Brittany Pickrem is the owner of a boutique design agency where she helps businesses and entrepreneurs build and boost their brand with smart, sophisticated design services that will help them get noticed while breaking free from the visual clutter. She has worked with personal brands, non-profit organizations, and large corporations such as People Bright Consulting Inc., the IWK Foundation, Bissett Financial Fitness Inc. and Helping Nature Heal. With over 11 years of brand design experience, she understands the power of a great brand and how it can transform businesses.
Brittany joins me today to talk about her mindset shift from creative, to CEO and how she’s learned to scale her business. She explains the importance of grit and determination, no matter the circumstances, and why building a strong support network is essential to any entrepreneur’s success. She also shares her financial revelations and biggest tips for those who are just starting out or trying to scale their business.
“If you actively work on strengthening your weaknesses, you’re only going to be a better person and a better leader.” - Brittany Pickrem
***This Week on Young Money:***
- How she became an “Accidental Entrepreneur”.
- How her business has scaled and evolved.
- Learning to move from being a technician to be a CEO and honing the mindset.
- Having persistence and grit in the face of ‘no’.
- The importance of a strong support network.
- Being open to new possibilities and mindsets.
- Financial revelations as a creative entrepreneur.
- How getting into your numbers can change your business.
- Things she wishes she knew about finance when she was younger.
-
The importance of facing your fears.
Top Tips for Young Millionaires In The Making:
-
Make friends with your fears - avoiding them does nothing for you. Just go do it!
- Work on your weaknesses no matter how scary they are.
- Be persistent, listen to and trust yourself. Don’t let ‘no’ be the end.
- Take a calculated risk.
- Do things on your own timeline – don't be in a race. Take your time and tune others out.
-
Cultivate a growth mindset.
Resources Mentioned:
-
Eleanor Beaton Coaching
Connect with Brittany Pickrem:
-
Brittany Pickrem website
- 5 Must Have Elements of a Great Brand
- LinkedIn
- Instagram
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Robert Gignac is the best-selling author of Rich is a State of Mind and an in-demand speaker at client events and financial industry seminars. He has delivered light-hearted yet powerful financial planning presentations and keynotes on stages such as the Ontario Association of School Business Officials, Sun Life Financial, and Say It With Power Presentations. He is passionate about helping his audience and clients understand the connection between personal responsibility and financial planning. Through his entertaining and informative speaking style, his goal is to inspire others to take control of their finances and create a “Richly Imagined Future.”
Robert joins me today to talk about financial planning and how to set your goals. He shares the lessons he has learned and why it is so important to start planning early and being prepared to change the plan as unexpected life-events occur. Robert also talks about his book on personal finance and sheds light on what he is doing now.
“It is great to have goals, and it’s great to have a plan, but don’t get so tied to them or make them so rigid that you are not prepared to change them.” - Robert Gignac
***This Week on Young Money:***
- Robert’s background and the genesis of the book.
- Learning lessons from other people’s mistakes.
- How to live within your means while enjoying life.
- Why you should take the time to build the foundation and building blocks of a financial future.
- The key factors to his success and what he needed to learn himself.
- The things Robert wished he knew when he was younger.
- The power of delayed gratification.
- How financial planning can lead to doing the things that your social circle only wish they could do.
- How to plan for your future self and the importance of starting early.
- Responding to things that life unexpectedly throws at you.
- Why you should look at life and money from the perspective of the bigger picture.
- What the concept of being rich means.
- Setting a goal list and how it might evolve.
-
What Robert is working on now.
Key takeaways:
-
Pay yourself first.
- Start a financial plan early - harness the power of compound interest.
- Question what rich means to you.
-
Respond to life’s unexpected events.
Resources Mentioned:
- EP012 The Financial Cost of Comparisonitis with Rachel Brownlow Lund
- EP036 Kelley Keehn with 5 Ways We Sabotage Our Finances
- EP045 Stop Feeling Broke with Shannon Lee Simmons
Connect with Robert Gignac:
-
Robert Gignac
- Rich is a State of Mind
- Rich is a State of Mind on Facebook
- Robert Gignac on Twitter
- Robert Gignac on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Tristen is a 21-year-old musician, carpenter, salesman and barman. He is also a homeowner and landlord. After a brief experience at university, he decided that college was a better fit for his business and personal goals. Once qualified as a carpenter, he continued to work across other roles to help bolster his financial portfolio and support his home-owning and real estate dreams.
Carly is a 28-year-old elementary teacher in Toronto, who also teaches dance two nights a week. At just 23, she purchased and renovated her first condo and plans to complete further property purchases in the future. Carly worked through her post-secondary schooling and was fortunate to graduate without student debt.
Tristen and Carly join me today to share their journey into property investment, real estate, and property renovation. They share why they chose real estate as their path to financial success, their long-term goals for their future success, and the financial lessons they wish they learned earlier in their lives and careers. They also share tips on choosing the right career path to achieve financial success.
“No matter how small a purchase seems - it all adds up.” - Tristen
This Week on Young Money:
- Tristen’s background and how he became a homeowner and property investor.
- What he wished he knew when he was younger.
- His financial goals and thinking long term.
- Carly’s background and her current professional career.
- Her biggest financial turning point and how she graduated university without any debt.
- How she bought a condo at 23 years old.
- Her goals for the future.
- Why she recommends investing in a Tax-Free Savings Account (TFSA).
- Low-risk investment strategies she has implemented to grow her financial portfolio.
-
How strong support systems helped Tristen and Carly achieve their goals.
Top Tips For Choosing Your Path to Financial Success:
-
Smaller purchases add up!
- It doesn’t have to be a 9-5 job - research other ways to earn income.
- Start investing early.
- Ask questions and don’t be afraid of sounding stupid or silly.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Murray Baker is the author of The Debt-Free Graduate: How to Survive College or University Without Going Broke. Having sold over 200,000 copies, his book reached #3 on the Toronto Star Bestseller list. As a recognized influencer in the field, he has also been interviewed by a number of media outlets, including The Globe and Mail, The National Post, The Vancouver Sun, The Toronto Star, Canada AM, CBC Newsworld, Breakfast TV, Money Talks and many more. He has worked in financial literacy for over 20 years, writes for the Vancity Good Money Blog and manages Financial Empowerment for Family Service of Greater Vancouver.
Today, Murray joins me to discuss how to take action and debt-preventative measures in small and manageable steps. He shares how pursuing your passion can lead to financial freedom and how to alleviate or prevent student debt. Dipping into his wealth of knowledge, we also get down to the nitty-gritty of student loans, part-time jobs, and financial planning.
“If I can instill one thing… it’s the importance of saving early and the magic of compound earning.” - Murray Baker
***This Week on Young Money:***
- Murray Baker’s current work in financial education and strategic saving initiatives.
- Why your financial goals are paramount.
- How consumerism influences people, their spending habits and their happiness.
- Building a manageable savings plan, no matter your income.
- Murray’s financial turning point.
- What is compound earnings and how it could positively impact your saving.
- Common money mistakes students and graduates make.
-
How to use goal setting as a spending control measure.
Top Tips for Students To Avoid Debt:
-
Start looking at how you are going to pay for post-secondary education early.
- Look at non-repayable funding options first including 1) part-time/summer jobs 2) loyalty points (HigherEdPoints) and 3) scholarships, grants or bursaries.
- Treat government loans as a top-up, not as your primary source of funding.
- Research scholarships or bursaries early in grades 9 & 10 so you can learn what skills you may need to demonstrate and can tailor your activities in grades 10, 11 & 12 to acquire or showcase them.
- Look into part-time jobs whilst you’re studying.
- Hold off on credit cards as soon as you graduate.
-
Incorporate goal setting into your financial plan.
Top Tips for Graduates Managing Their Student Debt:
- Don’t feel hopeless - proactive strategy and goal setting can empower you to take control of your finances.
- Start saving early - small amounts add up! No matter your salary, try to save small, manageable amounts.
- Track your spending and know where your money is going. Consider budgeting, assessing your cash flow and building a contingency fund.
- If you have student debt, avoid taking on other debt including credit cards and car loans for a few years after you graduate.
- Have a complete understanding of how much debt you’re in and to whom.
- Keep your student loan debt separate from your other debt- use caution when taking on consolidation loans. Remember that student debt interest is a tax deduction on your income tax return and if you are unemployed/underemployed you may qualify for payment relief on your student debt.
- Ask for loyalty points for gifts so you can paydown student debt with other people’s money. (HigherEdPoints)
Resources Mentioned:
- EP005 Biggest mistakes made when educating young adults about student debt
- EP028 Fund Your Education with Loyalty Points by Suzanne Tyson of HigherEdPoints
- EP030 Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- EP042 Best of Tips for Postsecondary Education
- EP048 Increasing Access to Post Secondary Education with Shelley Clayton
- Vancity Good Money Blog
- The Wealthy Barber
- Warren Buffett’s Biography
Connect with Murray Baker:
-
The Debt Free Graduate on Twitter
- Murray Baker on LinkedIn
- debtfreegrad@gmail.com
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Everyone loves a gift card. When bought as a gift or delivered as a prize, gift cards make us happy. Sadly, 25% of gift cards are never used and 32% of those are simply lost. Some might say gift cards are impersonal, but for others, they are a go-to gift. For those who do love gift cards, they’re a fun way to allow someone to treat themselves.
Today, I’m sharing my top 3 tips for buying and receiving gift and prepaid cards. I discuss the things to watch out for and how to get the most out of the money on your gift cards. I also explain the various different types of cards available and how looking after your gift cards is the same as looking after your cash.
“Treat a gift card like cash. If it’s lost, anyone can go and spend it.” - Tracey Bissett
***This Week on Young Money:***
- What is a gift card?
- The pros and cons of buying gift cards.
- How gift cards work.
- When gift cards could expire and things to look out for.
- Different types of gift card.
- Possible fees and rules.
-
The ins and outs of pre-paid cards.
Top 3 tips for success with gift cards/pre-paid cards:
- Always check the terms and conditions - be aware that certain cards may have different rules or fees associated.
- Treat a gift card like cash - report it if it’s stolen, as well as any unauthorised transactions. Be aware that you may not receive compensation.
- If you get a card you won’t use, gift it! - Sell it to a friend or give it away. After all, you can’t redeem it for cash.
Resources Mentioned:
-
Consumer Protection Ontario
- The Financial Consumer Agency of Canada (FCAC)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Jennifer Reynolds is the President and CEO of the Toronto Financial Services Alliance (TFSA), a Toronto-based public-private partnership dedicated to promoting the area’s financial services sector and positioning it as a prominent leader in the industry worldwide. She is the current Director on the Boards of two organizations: the Canada Development Investment Corporation and the Women’s College Hospital Foundation. She has extensive experience in investment banking, venture capital, and global risk management and has received multiple awards and recognition including being named as one of Canada’s Top 100 Most Powerful Women by the Women’s Executive Network in 2015 and 2017 respectively.
Jennifer joins me today to share the many initiatives the TFSA are focusing on to help bring more business and talent to the financial services sector throughout Canada. She explains why understanding your risk tolerance is critical when considering your investment options and why it’s important for new investors to speak with multiple industry experts to make strong, educated decisions about their investments. She also discusses the current changes occurring throughout the financial services industry that are impacting consumers and the workforce, the key skills young financial services professionals will need to develop to create a successful future in the industry, and the public misconceptions about industry.
“There’s a lack of understanding of the connection of what we do in the financial sector to how it impacts every single person in the economy.” - Jennifer Reynolds
***This Week on Young Money:***
- The importance of being tenacious about achieving your goals.
- Understanding your risk tolerance when beginning your journey into investing.
- The importance of talking with multiple financial services experts when deciding to start investing.
- Changes occurring in the financial services industry and how they will impact consumers and the workforce.
- Skills young professionals need to develop and hone for a future career in the financial services industry.
-
Debunking misconceptions about the industry.
Top Skills Financial Services Employees Will Need in the Next 3-5 Years:
-
Emotional Intelligence
- Communication Skills
- Ability to Influence
- Problem-solving Skills
-
Innovation Skills
Resources Mentioned:
-
Episode 021 - Banking in the Digital Economy with Neil Parmenter, President and CEO of the Canadian Bankers Association
- Episode 039 Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- Episode 047 Adventures with Crypto - 5 Lessons Learned with Digital Wallets and Buy Transactions
- Unlocking the human opportunity Future-proof skills to move financial services forward
- Ontario Student Perceptions of Financial Services Careers
-
The changing faces of cybersecurity closing the cyber risk gap
Connect with Jennifer Reynolds:
-
Toronto Financial Services Alliance (TFSA)
- TSFA - Aspire
- TFSA on LinkedIn
- TFSA on Twitter
- Jennifer Reynolds on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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If you walk around any post-secondary campus at the beginning of the semester, you’ll often find many credit card company representatives setting up booths to promote their companies and sign up students for their credit cards. While this is convenient for many students - and a great marketing strategy for these companies - the reality is that many post-secondary students do not know enough about credit cards and the proper way to use them without getting buried in debt.
Today, I’m sharing the five critical questions post-secondary students and millionaires-in-the-making need to answer before applying for a credit card. I explain why it’s important for you to understand your motivation behind wanting a credit card and how you plan to pay off your monthly purchases. I also share alternative card options you can use as well as tips on how to be a responsible credit card holder if you decide that applying for a credit card is the best choice for your needs.
“I don’t believe credit cards are good or bad. Like anything, it is all in how you use them.” - Tracey Bissett
***This Week on Young Money:***
- The average credit card debt for post-secondary students.
- The importance of understanding why you want a credit card.
- The importance of pre-planning how you will pay for your credit card purchases.
- Evaluating alternative options beyond applying for a credit card.
- Considering and comparing credit card introductory rates and interest rates.
- Comparing credit card rewards and benefits.
- Considering annual fees, cash advance fees, and other fees associated with being a credit card holder.
- Considering specialized cards to meet your specific needs such as student cards and retail credit cards.
- Why it’s critical to pay off your credit card balance in full each month.
- What to do if you are unable to pay off your balance in full.
- The importance of regularly checking your credit card statements for errors and reporting them promptly.
- The importance of keeping your personal information confidential.
-
The impact of irresponsible credit card usage.
5 Questions to Answer Before Getting a Credit Card:
-
Why do I want the card?
- How will I pay for the purchases on the card?
- Do I need my own card?
- What should I look for when comparing credit cards?
-
How do I use a credit card responsibly?
Resources Mentioned:
-
Episode 005 - Biggest Mistakes Made When Educating Young Adults About Student Debt
- Episode 037 - Cohabitate in a Financially Fit Way
- The Financial Consumer Agency of Canada (FCAC)
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Shelley Clayton is the Director, Financial Aid at the University of New Brunswick’s Fredericton Campus. In this role, she has helped hundreds of students - nationally as well as in the Atlantic region - to obtain funding for their post-secondary education through Student Services and Student Financial Assistance. She is a representative on the Canadian Association of Student Financial Aid Administrators (CASFAA), the Atlantic Association of College and University Student Services (AACUSS), and the Canadian Association of College and University Student Services (CACUSS) Boards. Between 2014-2016, Shelley was a member of the National Steering Committee on Financial Literacy. She is passionate about improving access to post-secondary education for all interested students by helping them remove any financial barriers.
Shelley joins me today to share how she helps post-secondary education students obtain funding. She explains how her personal experience has impacted her decision to help students increase their access to post-secondary education. She also shares tips for post-secondary students and parents on how to plan their student loan funding, what students can do to stand out while competing for scholarships, and how putting effort into your scholarship essays can impact your ability to be awarded the scholarship.
“Use the opportunities that don’t cost you anything and are going to give you opportunities to build your resume and make you stand out.” - Shelley Clayton
This Week on Young Money:
- How Shelley helps post-secondary students obtain scholarships and funding to pay for their education.
- How Shelley’s personal experience with funding her post-secondary education led to her successful career.
- Shelley’s biggest financial turning point.
- The importance of parents talking with their children about money, finance, and debt.
- Tips for parents of post-secondary students.
- Why it is critical that parents and students talk with experts to help them plan for how they will pay for post-secondary education.
- The importance of taking your scholarship letter and essay seriously and how it impacts your ability to obtain a scholarship.
- The most memorable success story of Shelley’s career.
- How Shelley’s parents became her biggest financial inspirations.
Shelley Clayton’s Tips for Increasing Access to Post-Secondary Education:
- Plan and prepare early.
- Talk to experts.
- Take advantage of volunteer and leadership opportunities that are available.
- Use the power of volume and apply for many scholarships.
- Do your budgeting ahead.
Resources Mentioned:
- Student Services Money@UNB
- UNB and Sobeys help students fund their “everyday” financial needs - HigherEdPoints.com article
- Higher Ed Points Hero: Shelley Clayton - HigherEdPoints.com article
- Episode 05: Biggest Mistakes Made When Educating Young Adults About Student Debt
- Episode 07: How’s Your Financial Reputation aka Your Credit Score?
- Episode 028: Fund Your Education with Loyalty Points by Suzanne Tyson of HigherEdPoints
- Episode 030: Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- Episode 042: Best of Tips for Postsecondary Education
Connect With Shelley Clayton:
- University of New Brunswick
- Email: finaid@unb.ca
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Education is critical for ensuring your financial fitness and creating a future of financial freedom. Beyond seeking advice and listening to other people’s stories on the strategies they use to make investment decisions, one of the best strategies to understand new concepts and ideas is to experiment and try new things yourself.
On today’s episode, I share how my discussion with Alan Wunsche on Bitcoin and other cryptocurrencies inspired me to learn more about digital wallets and how to use them to complete various transactions. I share the research I have conducted on the different types of digital wallets, the level of security you can expect from each type, and the lessons I have learned about cryptocurrencies and digital transactions after setting up my first digital wallet. I also explain why many financial institutions prohibit using your debit or credit card to acquire cryptocurrency and how to choose the best digital wallet to meet your personal financial needs.
“Since early 2018 Canadian banks have made changes, that vary by institution, about how clients can use credit or debit cards as it pertains to cryptocurrencies.” - Tracey Bissett
This Week on Young Money:
- The types of digital wallets.
- The pros and cons of using electronic wallets and software wallets.
- The difference between a “hot wallet” and a “cold wallet” and why I chose to use a hot wallet to learn more about digital wallets and cryptocurrencies.
- Security measures you can expect when setting up various digital wallets.
- Why some financial institutions prohibit the use of debit or credit cards to acquire cryptocurrencies.
- The importance of researching cryptocurrencies and exchanges before investing.
- The importance of continuing your education about cryptocurrencies and digital wallets.
Top 5 Lessons on Digital Wallets & Cryptocurrencies:
- Before you set up a digital wallet, make sure it is compatible with your country and/or currency of accounts.
- Be prepared to provide confirmation of your identity - similar to setting up a bank account.
- Before entering into cryptocurrency transactions, know how you will pay for them - find out what is possible in your country and at your financial institution.
- Research cryptocurrencies and exchanges prior to making transactions, so you understand the risks of this type of investment.
- Be curious and continue to educate yourself. The cryptocurrency market is evolving daily.
Resources Mentioned:
- Episode 039 - Bitcoin and Other Cryptocurrencies Demystified with Alan Wunsche
- BRD
- Coinbase
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Sheena Russell is the founder and CEO of Made with Local, a heart-led food company based in Nova Scotia, Canada. The company provides nourishing, handmade foods made with locally sourced ingredients. Their mission is to offer healthier snack options to Canadians that are made with simple ingredients, taste great, and packed with love while building a community to bridge the gap between local farmers and social enterprise bakeries.
Sheena joins me today to share how she started her company and their mission to offer healthier snack options to families and individuals throughout Canada. She shares the factors that led to her success and how her husband has been a significant source of inspiration while growing her business. She also shares the biggest financial challenges she has faced and how she overcame them, how she plans to expand the company to reach other communities within Canada, and why she is passionate about working with local growers and businesses.
“We try to really take care of the community that is around us.” - Sheena Russell
This Week on Young Money:
- How she started her business.
- How she transitioned from being a solopreneur to building a local team.
- Factors that lead to her entrepreneurial success.
- The gifts she received from the universe.
- Her experience with applying to become a SheEO funded venture.
- The biggest financial challenge she has faced and how she overcame it.
- Why her husband is her biggest financial inspiration.
- How she plans to expand the company into new communities throughout Canada.
Sheena Russell’s Top 3 Success Tips:
- Have faith.
- Be fearless.
- Have the confidence to take calculated risks.
Resources Mentioned:
- SheEO
- Episode 024 - Young, Fun, and Financially Free with Leanna Haakons of Black Hawk Financial
- Episode 035 - How to Prepare for a Side Hustle with Jeet Banerjee
- The Flower Cart Group
- Dartmouth Adult Services Centre (DASC)
- Vicki Saunders, Founder of SheEO, on LinkedIn
Share the Love. Spread the Word about Made with Local!
- Buy and share the Made with Local products.
- Follow and interact with Made with Local on social media.
Connect with Sheena Russell:
- Made with Local Website
- Made with Local on Twitter
- Made with Local on Instagram
- Made with Local on Facebook
- Made with Local on LinkedIn
- Sheena Russell on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Shannon Lee Simmons is a Certified Financial Planner, Chartered Investment Manager, and the founder of the New School of Finance, a fee-only financial planning firm for Canadian residents and small businesses to receive unbiased financial planning advice. She is the author of the national bestselling book Worry-Free Money: The guilt-free approach to managing your money and your life, and a regular contributor for multiple publications such as Globe and Mail, CBC’s On the Money, and Metro Morning. Additionally, she has been featured as a financial expert on The Marilyn Denis Show, was named one of Canada’s Top 30 Under 30 and received the Notable Award for Best in Finance.
Shannon joins me today to share strategies on how you can stop feeling broke and worry less about your personal finances. She explains how comparing yourself and your finances with others can impact your mental, emotional, and financial well-being and what it means to create a financially friendly future. She also shares realistic approaches on how you can improve your personal finances without increasing your stress, what it means to “spread the money love,” and why it’s critical to have faith in yourself and your ability to make good financial decisions.
“For absolutely everybody - regardless of what your financial situation is - there is hope. A little bit goes a long way.” - Shannon Lee Simmons
This Week on Young Money:
- How her company began and the driving force that led to her success.
- What inspired her to write her book?
- How her childhood experiences impacted her success.
- The impact of giving up on your financial planning and comparing yourself to others.
- How social media impacts your mental and emotional well-being as well as your financial fitness.
- What the phrase “the Beyoncé factor” means.
- What the “Spending Vortex” is and how it impacts your financial fitness and mindset.
- The “Hard Limit Strategy” approach to budgeting your personal finances.
- How to make your future financially friendly.
- Her inspiring financial role models and mentors.
- The importance of having faith in your ability to make good financial decisions.
- What it means to “spread the money love” and why it’s important to your financial success.
Shannon Lee Simmons’ Worry-Free Money Tips:
- Unless you know the financial details, stop comparing yourself to others.
- Opt out of financial regret.
- Make changes: Make more money like starting a side hustle or make a plan to spend less.
- Have faith in yourself to make good financial decisions - be confident - you’ve got this.
- Remember: There is hope for improving your personal finances. Find people who can help you get your hope back.
Resources Mentioned:
- Episode 012: The Financial Cost of Comparisonitis with Rachel Brownlow Lund
- Episode 024: Young, Fun, and Financially Free with Leanna Haakons of Black Hawk Financial
- Episode 035: How to Prepare for a Side Hustle with Jeet Banerjee
Connect with Shannon Lee Simmons:
- Shannon Lee Simmons website
- Shannon Lee Simmons on LinkedIn
- Shannon Lee Simmons on Twitter
- Shannon Lee Simmons on Instagram
- New School of Finance
- New School of Finance on LinkedIn
- New School of Finance on Twitter
- New School of Finance on Instagram
- New School of Finance on Facebook
- Worry-Free Money: The guilt-free approach to managing your money and your life book
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
For many millionaires-in-the-making, getting an advance on your pay cheque may sound like a dream come true. The idea and concept of getting a payday loan may seem great on the surface - and may even help you pay for unexpected bills and expenses that come up between pay cheques - but they can often lead to long-term financial trouble.
Like any loan, payday loans need to be paid back, and many young millionaires-in-the-making may not realize the negative impact these loans can have on their financial future.
Today, I explain what payday loans are as well as the dangers of getting a payday loan to help pay for your expenses. I explain the true purpose of a payday loan, the maximum amount you can borrow as well as the financial and legal implications you may face by not paying it back on time. I also explain why payday loans are considered one of the most expensive money-borrowing options and share alternative options you should consider the next time you need to borrow money.
“Once you start using payday loans, you can get caught in a vicious cycle that necessitates their continued use.” - Tracey Bissett
This Week on Young Money:
- What payday loans are and how they work.
- The maximum amount you can borrow from your pay cheque.
- The true purpose of payday loans and the dangers of using them for day-to-day expenses.
- What to expect when applying for a payday loan.
- The importance of reading, understanding, and asking questions about a payday loan agreement before you sign.
- The true cost of payday loans and how it compares to borrowing by way of a line of credit, overdraft protection, and a credit card cash advance.
- The mild and severe legal implications you can expect if you don’t pay back your payday loan on time.
- Alternative money-borrowing options.
Money-Borrowing Alternatives to Payday Loans:
- Talk to your employer about converting your vacation days into cash.
- Ask for more time to pay your bills - creditors can be flexible if you have a plan for repayment.
-
Consider cheaper ways to borrow money:
-
Line of credit
- Overdraft protection
- Cash advance on a credit card
- A personal loan
- A private loan from friends or family
Resources Mentioned:
- Financial Consumer Agency of Canada - Payday Loans
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Kamara Toffolo is a job search strategist, LinkedIn consultant, and resume writer who is passionate about helping high-achieving professionals around the world transition and advance their careers to the next level. She is a featured and contributing author for many publications including Business Insider, Forbes Magazine, and Inc. Magazine and has presented keynote speeches and seminars at several professional conferences, universities, corporate training, and workshops. Before working in the career development field, she has 12 years of experience in the financial services and technology industries, working with small to mid-sized businesses as well as Fortune 500 companies.
Kamara joins me today to share tips and strategies on how to create a standout cover letter, resume, and LinkedIn profile. She explains the purpose of a cover letter and how it can help you highlight your personality, accomplishments, and the value you bring to an organization as well as some of the common mistakes many young professionals make when crafting their cover letter. She also explains the difference between a functional resume and a chronological resume, what job recruiters truly want from your resume, and tips on how to build a stellar LinkedIn profile.
“It goes back to the know, like, trust factor - someone without a linked in profile picture immediately misses out on the ability to establish trust.” - Kamara Toffolo
This Week on Young Money:
- How she helps clients achieve their career goals and demonstrate their professional values in their cover letters, resumes, and LinkedIn profiles.
- The importance of finding a balance between being humble and highlighting your accomplishments and the value you can bring to an organization.
- How building and nurturing relationships have impacted her career success.
- What led to the transition from working in the financial services industry to the career development space.
- Why she wishes she began to invest in real estate sooner.
- How to identify your transferable skills.
- The importance of seeking advice from other professionals within your industry.
- The importance of keeping a running document of your accomplishments and achievements.
- The appropriate length of a resume.
- The importance of being clear on what your target job is before building your resume.
- Common mistakes to avoid when creating your resume.
- The difference between a functional resume and a chronological resume.
- The purpose of a cover letter.
- Common mistakes to avoid when crafting your cover letter.
- How your profile picture helps you build trust.
- The importance of including the skills you currently have on your LinkedIn profile instead of the skills you aspire to have.
- Why LinkedIn recommendations are critical to job recruiters.
Kamara Toffolo’s Tips for Creating a Stand Out Cover Letter, Resume, and LinkedIn Profile:
- Start with the pre-resume work. Find the common thread that connects your skills, experiences, and what you stand for.
- Keep an ongoing record of your accomplishments.
- Be clear on your target job. Do your research.
- Tailor your resume for the job you are applying for.
- Include a headshot (no selfies!), recommendations, and your current skill sets on your LinkedIn profile.
- Make sure you have a well-written LinkedIn profile summary.
- Take the time to customize your cover letter to reflect the value you can bring to an organization.
Resources Mentioned:
- Episode 038: Investor Spotlight Part 1
- Episode 040: Investor Spotlight Part 2
Connect with Kamara Toffolo:
- Kamara Toffolo website
- Kamara Toffolo on LinkedIn
- Kamara Toffolo on Twitter
- Kamara Toffolo on Instagram
- You Map: Find Yourself, Blaze Your Path, Show the World book – coming in November 2018
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
With the Back-to-School season quickly approaching, many parents and young millionaires-in-the-making are beginning to consider the financial costs associated with postsecondary education. As these young adults and their parents discuss their budget and create a plan to afford this new expense, many important factors are often overlooked.
On today’s episode, I share some of the best tips and strategies parents and young adults can use to ensure their financial success while planning for postsecondary education. I share excerpts from previous episodes with Janet MacDonald of MyCampusGPS and Suzanne Tyson of HigherEdPoints.com sharing their advice to parents and students preparing for postsecondary education, tips on when to begin looking for scholarship funding, and how to use loyalty points to help pay tuition and living expenses. I also explain why parents need to adequately educate their children about the financial realities of life as well as provide education on the use of credit cards.
“Scholarships open and close a lot sooner than people realize.” - Janet MacDonald
This Week on Young Money:
- How MyCampusGPS works to help postsecondary students with scholarship preparation.
- When to begin searching and preparing for scholarships?
- Strategies for writing a winning essay.
- Mistakes parents and students should avoid when applying for postsecondary education.
- How HigherEdPoints.com helps parents and students pay postsecondary tuition, living expenses, and repay student loans.
- Budgeting for additional and “surprise” expenses.
- The importance of preparing postsecondary students for the financial realities of life.
- The importance of parents providing proper education on using credit cards.
Best Postsecondary Education Tips for Parents and Young Millionaires-in-the-Making:
- The best time to get funding through a scholarship is in Grade 12. The opportunities come up early.
- When writing your essay, share your experiences, explain what you learned from them, and explain how you will implement those lessons to improve yourself and your community.
- Plan in advance.
- When budgeting for postsecondary education, don’t forget the smaller costs such as bus passes, meals, unexpected medical issues, rent, and other living expenses.
- You can use loyalty points to help pay for tuition, meals, and residence fees.
- Parents should adequately prepare young adults for the financial realities of life.
- Parents need to provide a balanced education regarding the use of credit cards.
- Remember: It’s perfectly normal not to be able to afford all of your wants and needs immediately after graduating from postsecondary school.
Resources Mentioned:
- Episode 5: Biggest Mistakes Made When Educating Young Adults About Student Debt
- Episode 28: Fund Your Education with Loyalty Points by Suzanne Tyson of HigherEdPoints
- Episode 30: Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
- Episode 36: Kelley Keehn with 5 Ways We Sabotage Our Finances
- How to Write Winning Scholarship Applications
- MyCampusGPS
- HigherEdPoints.com
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Monica Da Ponte is the founder of Strive, a social company that seeks to change the way we see and define financial literacy to advance our individual and collective resiliency. Her company is currently piloting a peer-to-peer based program with St. Mikes Hospital in Toronto to curate financial journeys and demonstrate the ingredients of financial success. Additionally, she holds Bachelor and Masters degrees in Business Administration from the Schulich School of Business.
Monica joins me today to discuss how she views the concept of financial literacy and how she seeks to help others reach their financial goals. She describes the challenges a lot of workers face when it comes to financial freedom and what she thinks needs to happen to overcome those challenges. She also explains how Strive works and the importance of setting financial goals to achieve financial fitness.
“Money enables you to do the things you want to do and control things to move in the direction you want them to move.” - Monica Da Ponte
This Week on Young Money:
- What inspired her to pursue a career in the financial literacy industry.
- How she achieved financial success.
- Critical points in her career that helped elevate her business.
- Her opinion on why surviving on minimum wage is next to impossible.
- The biggest revelation in her life from a financial perspective.
- The mission behind Strive and how they help people build financial literacy and resiliency.
- How setting financial goals can help you become financially fit.
- Evaluating the costs of pursuing goals.
- The Strive Purchasing Process:
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- Understanding the unique value of a particular product/service
- Understanding the total costs associated with the product/service
- Understanding alternatives
Monica Da Ponte’s Key Factors for Financial Success:
- Be insanely practical.
- Know what’s important to you.
- Have the ability to problem-solve.
- Set financial goals - money is a huge enabler of freedom.
- Things add up – create space that you can use to be strategic and take risks.
Resources Mentioned:
- Episode 25: True Cost of Car Ownership
- Episode 34: Jeremiah Brown The 4 Year Olympian
Connect with Monica Da Ponte:
- Strive
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Lisa, Elaine, and Melissa are three young millionaires-in-the-making that began their journey into investing as a way to create long-term financial growth and save for their future. Shortly after high school, Lisa began investing in RRSPs (Registered Retirement Savings Plan) and TFSAs (Tax Free Savings Account) as a way to save money to support her passion for traveling. After receiving a substantial inheritance after a close loved one passed away, Elaine decided to start her investing journey by investing in ETFs (Exchange-Traded Funds), stocks, high-interest savings accounts, and GIC’s (Guaranteed Investment Certificates). As she grew older, she decided to begin investing in RRSPs. Melissa’s interest in investing began while she was still attending high school and preparing for university. She wanted to build a safety net for her financial future by creating slow, long-term growth through mutual funds.
Lisa, Elaine, and Melissa join me today to share their experiences as young investors. They share their journey into the investing world, how their families supported their decisions, and the lessons they have learned throughout their journey. They also share some of the money lessons they have learned throughout their childhood and explain why it’s important for young millionaires-in-the-making to begin investing in their future as early as possible.
“The best time to start investing is yesterday.” - Melissa
This Week on Young Money:
- Why Lisa opened an RRSP and TFSA account at the age of 18.
- The three money lessons Lisa’s parents taught her throughout her childhood.
- Why Lisa chooses to be a passive investor and focus on long-term growth.
- Elaine’s investing journey and why she decided to invest in ETFs, stocks, RRSPs and GICs at a young age.
- How Elaine splits her investments into different time horizons - long term and short term savings.
- Why Melissa began investing in mutual funds to create a financial safety net for her future.
- Why Melissa believes investing is empowering and motivating.
- Why Melissa believes it is critical for young adults to begin investing in their future.
Investing Advice for Young Millionaires-in-the-Making:
- You can’t spend what you don’t have. Always spend less than you make.
- Stick to your financial commitments once you make them.
- Understand the goal of financial freedom and be self-motivated to make it happen.
- Understand your goals today and structure your investments to support your achievement of them.
- Be disciplined with your money. Make saving and investing a routine.
- Start investing early and as soon as you can.
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Alan Wunsche is the CEO and Chief Token Officer of TokenFunder. TokenFunder is a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. Alan is also the Chair and Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is recognized as a finance technologist focused on new blockchain business models and its disruptive impacts on global wealth distribution and innovation.
Alan joins me today to explain what cryptocurrencies are and the role blockchain technology plays with this digital asset. He explains how Bitcoin got started, its origins and intent, and how cryptocurrency networks represent a peer to peer version of online cash. He also shares examples of simple and complex transactions using cryptocurrencies and debunks some of the most common myths and misconceptions regarding bitcoin and other cryptocurrencies.
“Cryptocurrencies allow us to represent anything of value.” - Alan Wunsche
This Week on Young Money:
- How Alan's experience led him to work with cryptocurrencies and blockchain technology.
- The origins of Bitcoin and how it started using blockchain technology.
- Why is it called "blockchain"?
- Key terms related to cryptocurrencies and blockchain technology.
- How Bitcoin works, how is it valued, and its real-world applications.
- What mining for crypto means.
- What Ethereum is, where and how it started and how it differs from bitcoin.
- What TokenFunder serves to provide.
- What people should learn about cryptocurrencies and the best way to learn.
- Common misconceptions about cryptocurrencies.
- Resources to continue learning about blockchain and cryptocurrencies.
Key Takeaways:
- Cryptocurrency network is simply a peer to peer version of online cash.
- Blockchain technology is essentially about decentralization. No financial institutions are involved in a bitcoin transaction.
- If both parties can agree, one token can be worth half a house or even half a business.
- To accelerate your learning, get a digital wallet and purchase a unit of cryptocurrency so you can understand how a transaction works and learn firsthand.
- A digital wallet does NOT hold the cryptocurrency, it simply reflects the balance from the public blockchain ledger.
- People are using this new fundraising mechanism to disrupt the venture capital world.
Resources Mentioned:
- CoinMarketCap
- Satoshi Nakamoto Institute
- CoinDesk
- CPA Ontario Navigating the Brave New World of Cryptocurrency and ICO's
Connect with Alan Wunsche:
-
Alan Wunsche’s Official Website
-
Alan Wunsche on Twitter
-
TokenFunder
- TokenFunder on Twitter
- TokenFunder on LinkedIn
- TokenFunder on Facebook
- Blockchain Canada
- Blockchain Canada on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Mark, Quintin, and Mounir - three young millionaires-in-the-making - are young investors building their wealth and striving to achieve financial fitness. Mark is a 25-year-old investor focused on building his long-term wealth by making small investments early and reaping the rewards of compound interest. Quintin is a 20-year-old university student who is making his money work for him by investing a portion of his bi-weekly paychecks into the cannabis industry. Mounir, a 25-year-old investor who began his journey into investing while attending university, strives for financial fitness by diversifying his portfolio.
Mark, Quintin, and Mounir join me today to share their experience as young investors. They share what inspired and motivated them to begin investing, the lessons they have learned throughout their journey, and the strategies they use to build their wealth and their portfolios. They also share why they believe starting your journey into investing early is one of the best decisions a young millionaire-in-the-making can make and how investing has impacted their lives as well as debunk common misconceptions regarding young adults getting started with building their portfolio.
“The biggest misconception about youth investing is that we really don’t have the funds. Best part is the time on our hands.” - Quintin Rizzo
This Week on Young Money:
- What motivated Mark, Quintin, and Mounir to begin their journey into investing.
- Their experience with investing to-date.
- The benefits of compound interest.
- How Mark makes multiple, small investments to accumulate long-term wealth.
- Why Quintin decided to invest in the cannabis industry.
- What is a Dividend Reinvestment Plan (DRIP)?
- Debunking myths and misconceptions regarding youth investing.
- Lessons Mounir has learned during his first investing experience.
- How Mounir diversifies his investment portfolio.
Investing Advice for Young Millionaires-in-the-Making:
- Start early, start small. Find something to invest in that you are passionate about.
- Do your research and execute on it.
- Reap the benefits of compound interest.
- Make your money work for you - not the other way around.
- Pay off school debt as soon as possible and start saving.
- Learn by doing. Learn and understand basic investment strategies, vehicles, and the different types of things you can invest in.
- Exercise caution and make rational decisions, not emotional ones. Remember that higher rewards come with higher risks.
Resources Mentioned:
- Questrade
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With the continued increases in housing prices and rental rates, young people realize the need to become more creative and resourceful when it comes to moving out on their own. Many young millionaires-in-the-making consider moving in with friends or their significant other to develop a sense of freedom, responsibility, and to start their journey into adulthood. However, often, young adults often don’t realize all of the things they should consider when deciding to cohabitate with others.
In this episode, I share the five keys to successfully cohabitating in a financially fit way. I explain why sometimes, living with your parents can after graduating from high school or post-secondary education can be a benefit to you as you begin to save for your future expenses and how parents can help encourage young adults to budget and save their money. I explain the importance of choosing your cohabitation partners wisely, what to consider when choosing your roommates, and how to end a cohabitation arrangement on a positive note. I also explain the importance of exercising caution when co-signing a loan for a friend or significant other as well as what to consider before moving in with a romantic partner.
“Exercise caution when being asked to co-sign for a loan or take credit out in your name.” - Tracey Bissett
This Week on Young Money:
- The importance of considering all of the costs associated with moving out of your family’s home.
- How parents can help young adults save money before moving out.
- The importance of discussing with roommates how each person plans to pay for their share of the expenses.
- Identifying whether your financial style is compatible with your roommates.
- How cash flow planning with your new roommates can help you budget your shared expenses.
- The importance of closing shared accounts at the end of a cohabitation arrangement.
- The importance of exercising caution when asked to co-sign or take credit out in your name.
- What to consider when co-signing a loan for others.
- Things to consider before getting involved in a romantic cohabitation arrangement.
5 Tips for Cohabiting in a Financially Fit Way:
- Don’t be in such a rush to move out of your parent’s home.
- Make a plan and budget for all of your expenses - both one-time and ongoing expenses.
- Choose your cohabitation partners and roommates wisely.
- Make a budget and cash flow plan for shared expenses.
- As cohabitation arrangements end, make sure all of your bills are paid and accounts are closed as needed.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Kelley Keehn is a financial educator and the Consumer Advocate for the Financial Planning Standards Council whose mission is to make Canadians feel good about money. She has written nine bestselling books with Protecting You and Your Money; A Guide to Avoiding Identity Theft and Fraud and A Canadians Guide to Money-Smart Living as the latest additions to her published work. Being a media personality and speaker, Kelley served on the National Steering Committee on Financial Literacy and has been appointed to the Financial Consumer Agency of Canada’s Consumer Protection Advisory Committee.
Kelley joins me today to share the five ways you sabotage your finances and the mistakes she made and learned from as a young financial educator. She shares the different hats she currently wears and explains the difference between a financial educator and a consumer advocate. She also explains why she immerses herself every day in continuous learning and the importance of connecting with your future self when saving up for your future.
“The brightest minds in the entire universe that lived or are living today have written a book, write articles, have YouTube channels, podcasts. Listen to them. Immerse yourself in what they’re teaching.” - Kelley Keehn
This Week on Young Money:
- How Kelley arrived at her financial path today
- How her mom taught her about finances
- How to think of yourself as a corporation
- Why she wished she knew what would happen if she used a credit card
- Why you shouldn’t “keep up with the Joneses”
- The difference between false rationale and irrationality
- How to deal with constant temptation
- What is the Availability Era
- The inspiration behind her upcoming book on why people should not self-diagnose
Key Takeaways:
- Always think of yourself as a corporation.
- Embrace the morning to get a lot of things done.
- Don’t keep up with the Joneses.
- Crunch the numbers and don’t ignore them.
- Resist temptation. Don’t let your impulses take over.
- Connect with your future self.
Resources Mentioned:
- Financial Planning for Canadians Website
- Financial Planning Standards Council (FPSC) Website
- FPSC on Twitter
- FPSC on Instagram
- Michael Lee-Chin Interview
Connect with Kelley Keehn:
- Kelley Keehn Website
- Kelley Keehn Blog
- Kelley Keehn on Twitter
- Kelley Keehn on Facebook
- Kelley Keehn on Instagram
- Kelley Keehn on LinkedIn
- Protecting You and Your Money; A Guide to Avoiding Identity Theft and Fraud Book
- A Canadians Guide to Money-Smart Living Book
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Jeet Banerjee is a serial entrepreneur, TEDx speaker, digital marketing consultant, and the creator of The Income Incubator, an online academy for those who want to be online entrepreneurs and business owners. At 17, he started his first business, and by the age of 25, he had successfully launched over ten businesses and sold two companies at a profit. Currently, he helps other entrepreneurs and business owners achieve their dreams while building highly successful businesses.
Jeet joins me today to share strategies to help you successfully prepare for a side hustle and why he attributes his success to perseverance. He shares the lessons he has learned throughout his entrepreneurial journey regarding what wealthy people do and where you should not invest your money. He also shares the most significant revelation he discovered as a young entrepreneur as well as some essential and practical tips on how to get ready to launch a side business.
“There’s never going to be a perfect time. Life NEVER gets easier. You’re always going to have time issues, or money issues, or experience issues, or big things happening in your life. But just start right now if you’re really serious about being an entrepreneur. Just take massive action and just do it.” - Jeet Banerjee
This Week on Young Money:
- What is a serial entrepreneur
- The big turning point in his life from a financial perspective
- Why wealthy people invest in assets
- How he was inspired by his entrepreneur father to start a business and keep going
- How commitment determines the success or failure of your business
- How you can manage your schedule once you start working on your side business
- The significance of knowing the monthly finances you need when establishing your short-term and long-term plan
- Why you need to avoid comparing yourself with other entrepreneurs and start doing things at your own pace
- Why Warren Buffett inspires him
Key Takeaways:
- Never let obstacles and challenges define you and be the end of your road.
- If you want to start a side business, you have to be very committed.
- Be realistic in planning your schedule.
- Assess your finances so you know what you can afford.
- Don’t be in a rush.
- Outsource your areas of weakness.
- Only invest in things that you know.
Connect with Jeet Banerjee:
- Jeet Banerjee Website
- The Income Incubator
- Jeet Banerjee on Facebook
- Jeet Banerjee on Twitter
- Jeet Banerjee on Instagram
- Jeet Banerjee on LinkedIn
- 8 Things To Do Before Launching A Side Business Blog
- If Not Now, When?: Jeet Banerjee at TEDxYouth@BommerCanyon YouTube Video
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Jeremiah Brown is a Canadian sport system expert, keynote speaker, and the author of The 4 Year Olympian: From First Stroke to Olympic Medallist . He is the National Manager of Game Plan at the Canadian Olympic Committee, an athlete wellness and transition program that supports 3,000 Olympic, Paralympic, and national team athletes in over 54 sports. Additionally, he is a 2012 Silver Medalist as a member of the Canadian men's eight rowing team and one of the few Olympic athletes to earn a medal within the four years of learning his sport.
Jeremiah joins me today to share how he became an Olympian and what led him to write his book. He explains the importance of staying focused, being consistent, and being kind to yourself and how they relate to your ability to achieve your goals. He also shares how he controlled his impulses to spend as well as the lifestyle adjustments he needed to make to reach his big dream of becoming an Olympic athlete.
“Progress doesn’t care about how you feel, unfortunately. It still requires the same input of action and consistency.” - Jeremiah Brown
This Week on Young Money:
- The program he’s building with the Canadian Olympic Committee
- The life-changing event that allowed him to get on the right track
- What you need to overcome so you can be consistent in your endeavors
- The highlight of his Olympic experience
- How his desire to be an Olympian impacted his finances
- Why he wishes he knew about compound interest when he was younger
- How he’s challenging himself to take his own advice
Key Takeaways:
- The ability to focus and sustain focus over time and be consistent with the actions you need to put in towards achieving your goal - that’s really the name of the game.
- If you want to excel in something, you must put in the time and consistent focus work.
- Consistency - it is easy to begin something and then fade. While it sounds simple, it is hard to maintain.
- As you go along, remember to be kind to yourself.
- Understand your cash flow, look at your inflows and your outflows, and make adjustments as needed so you can achieve your goals.
Resources Mentioned:
- Mr. Money Mustache
Connect with Jeremiah Brown:
- The Four Year Olympian Website
- The 4 Year Olympian Book
- The 4 Year Olympian on Facebook
- Jeremiah Brown on LinkedIn
- Jeremiah Brown on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Understanding the basics is foundational when learning a new skill or pursuing new undertakings. The first step before investing is to equip yourself with the basics of how investing works. It is crucial that you understand how investment returns are generated and how investors gauge and manage risks based on their investment objectives and time horizon.
“No matter what your time horizon or risk tolerance, you should never invest your money in something you do not understand.” - Tracey Bissett
Today, I’m sharing a micro-training on investment basics including the definition of some common investing and saving financial terms. I discuss what investment objectives are as well as the four main asset classes: 1) equities (i.e. stocks), 2) fixed income (i.e. bonds), 3) cash equivalents (i.e. money market instruments) and 4) alternative investments (i.e.: real estate, commodities and cryptocurrencies). I also talk about why it is crucial to know your risk tolerance and how to determine the best investment choice or decision for you.
“Everybody is going to have a unique perspective and something that you’re more comfortable with than someone else. This is why investing is a very personal decision.” - Tracey Bissett
This Week on Young Money:
- What is investing and the primary goal of each investor
- Definition of terms such as principal, capital, return, investor
- What compound interest is and why it is so desirable
- What diversification, risk tolerance and liquidity are
- The difference between a guaranteed vs. non-guaranteed investment
- What is an investor or investment risk profile
- The concept of time horizon defined and how one investor may have multiple time horizons
- The importance of understanding how various investment returns (interest, dividends and capital gains) will be taxed
- The four main asset classes
- How to assess your investment plan based on your time horizon and risk tolerance
Key Takeaways:
- Never invest your money in something you do not understand.
- It’s okay to say you are a beginner and you do not have a lot of investment knowledge, especially to the person you are going to be making investments with. It is their responsibility to help with your financial education so you can make great investment decisions.
- Never be afraid to ask questions. No question should be considered stupid or bad.
- Anybody who’s trying to sell you an investment should be prepared to commit the time to help you learn.
- Generally, if somebody cannot explain the investment to you in simple terms, it’s probably not the right thing for you or they may not be the right investment advisor for you.
- Invest with your brain and not with your emotions.
- It is never too early or too late to start investing.
Resources Mentioned:
- Episode 4: An Annuity of Inspiration with Laura Beauparlant
-
Episode 6: What are Your Intentions … Financially Speaking with Jackie Porter?
-
Episode 19: TFSAs vs. RRSPs
-
Episode 21: Banking in the Digital Economy with Neil Parmenter, President and CEO of the Canadian Bankers Association
- Episode 24: Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
- Episode 32: David Jenkins on Investing with TheAnswerIs
- Young, Fun, and Financially Free Book by Leanna Haakons
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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David Jenkins is a strategic and visionary business leader, and the author of TheAnswerIs -- an education and informative website inspired by his daughters and designed to provide young people with the basic knowledge about investing and finance. Dave was the former President and member of the Board of Directors of Canada’s most prominent independent real estate valuation company as well as the former COO at one of Canada’s most innovative industrial companies. With his rich experience and wisdom, he freely shares his knowledge on the website and by accepting speaking engagements at universities, businesses, and communities.
David joins me to share how he uses his website to educate young people about finances and investing. He explains why he uses short stories and examples in explaining investment concepts, the common missteps of a new investor, and why the Sensitivity Analysis is an essential tool especially for those who are considering investing their money. He also shares some inspiring success stories, including that of his mother’s -- how she, being a widow, raised all of her sons and managed to leave something for them even after she was gone.
“When I was young I was motivated purely by money. I was swinging for the fences with my investments and there was no end in sight to the ways I could lose money.” - David Jenkins
This Week on Young Money:
- How Dave and his brother started their real estate venture together
- What “the aptitude and headspace for investing” means.
- Why you should always do the best you can with whatever job is assigned to you
- Why people would still respect you despite them not liking your decision
- Why you should maintain your integrity and develop trust
- How long long-term investing is
- Six items young people need to review financially
- How to avoid the Youth Trap
- What the Paradox of Time is
- What the model portfolio does and what it reflects
- What Exchange Traded Fund (ETF) is
- The difference between ETFs and Mutual Funds
- Types of diversification concerning equity investing
- How Warren Buffett and his mother inspired him
Key Takeaways:
- Do your best with whatever task you’re assigned with.
- Make your own luck.
- Act in the best interest of the organization you’re working for.
- Bring the organization ahead of your own personal interest.
- Trust and integrity cannot be overstated.
- Investing advice: Get started early, stay the course and take a long term perspective.
Resources Mentioned:
- The Terrible 2s -- Why is the 2% the most dangerous number in investing? Article
- The Six-Question Ready to Invest Quiz
Connect with David Jenkins:
- TheAnswerIs.ca
- David Jenkins on LinkedIn
- TheAnswerIs on LinkedIn
- TheAnswerIs on Twitter
- TheAnswerIs on Instagram
- For a FREE presentation: Go to Ask a Question
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Welcome back to the Young Money podcast the advice show for young millionaires-in-the-making. In this episode, I’m speaking with seven young money masters, ranging in ages from as young as 7 to as old as 16, and from various parts of Canada. These youth and young adults share their honest opinions and insightful answers to several key money-related questions. We discuss where money comes from, what an income means to them, how they use their money or allowance, and much more. This Week on Young Money:
- Does money grow on trees?
- How these youth and young adults spend their money
- What “earning an income” means
- How much money youth and young adults believe is needed to live
- Whether or not they dream of becoming millionaires
- How youth and young adults perceive millionaires
- Perspectives on the difference between a want and a need
- What young adults consider as an expense
- What young adults believe they need to save for as they enter adulthood
Rate, Share & Inspire Other Young Millionaires-in-the-Making
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Spring is in the air - and that means wedding season is quickly approaching. While weddings are a joyful celebration of two people sharing nuptials and promising to love each other forever, attending a wedding can often leave you feeling surprised by the financial expense. Being a guest at a wedding can often be more expensive than you think! This cost is magnified if you are invited to several weddings in a year.
On today’s episode, I discuss the true cost of being a wedding guest and how close your relationship is to the people getting married can directly impact the amount of money you might be willing or feel the need to spend. I explain how these expenses can quickly add up, what to consider when RSVPing to attend a wedding, and tips on how you can be a financially fit wedding guest - without breaking the bank.
“The cost of attending a wedding rises directly in proportion with how close you are to the people getting married.” - Tracey Bissett
This Week on Young Money:
- Average spending to attend a distant versus close family member's or friend's wedding.
- The average amount spent by wedding party members.
- Why nearly 40% of wedding invitees opt-out of attending a wedding.
- Total average wedding expenses.
- How much is considered an average acceptable wedding gift?
- Average expenses associated with secondary parties like engagement parties, bachelor and bachelorette parties.
- Why at times your presence at the wedding may be more important than any wedding presents.
Young Money’s Top 5 Tips for Being a Financially Fit Wedding Guest:
- Make a budget and start saving when news of the engagement comes out.
- Reuse, rewear, rent, or borrow your attire.
- Investigate for lower travel costs. Set up price alerts.
- Be creative with wedding gifts.
- When in doubt - opt out.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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With over 20 years of experience working with young adults, Janet MacDonald continues to work with high school students and their parents through her company, MyCampusGPS, where she guides them through the important decisions that will significantly impact their post-secondary life. She also helps university students prepare for professional school and equips them with the necessary skills to make them employable. Due to her passion for helping youth, she has received a nomination for an RBC Women of Influence Entrepreneur of the Year Award. Her blog has helped numerous students and parents and was named one of the top education blogs in Canada.
Janet joins me today to share how she helps high school students in these three significant steps — university admission, career exploration, and scholarship preparation. She shares her success factors that contributed to where she is today and the formula for writing a unique and impactful scholarship essay. She also shares the common missteps in the university admission process and the success factors of the students who achieve success.
“It’s about knowing when the decisions need to be made and what kind of information you need to make those decisions so that you’re making the best decisions and at the best time.” - Janet MacDonald
This Week on Young Money:
- What led Janet to start her business
- Why it is vital to include the parents in their children’s post-secondary planning process
- Why having a sense of meaning and purpose is a critical factor for youth
- How MyCampusGPS works
- Why the University calendar is like her "bible"
- The benefits of doing career exploration activities
- How she helps university students
- Tips for scholarship applications
- The most common stumbling block for students who are applying for a scholarship
- The biggest mistakes when applying for post-secondary education
Key Takeaways:
- The best time to get a post-secondary scholarship is in the earlier part of Grade 12.
- It is not just about arriving at the solution but learning the type of information you need to make an informed decision.
- The more specific the goal, the more likely students are to get to it.
- The scholarship reader wants to see the reflective area in scholarship application essays - specifically what you learned, how it impacted you and those around you as well as how you will use it in the future.
- Prioritize your activities. Plan ahead. Be open to feedback.
Connect with Janet MacDonald:
- MyCampusGPS Website
- MyCampusGPS Blog
- Janet MacDonald on LinkedIn
- MyCampusGPS on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Convenience and safety are a few of the many reasons why people own or lease a car. While there are many decisions to make when choosing the car of choice regarding color, model, and make, leasing a car is now a popular option for those who do not want to buy one. Understanding your driving needs, your lifestyle, and your budget will give you a clear picture of whether car ownership is the right choice for you.
In this episode, I’m sharing the cost of buying a car versus leasing one based on your expected car usage. I’m discussing the car buying process, the must-have safety features to look for when choosing a car, and the significant points to consider when weighing the pros and cons of buying versus leasing.
“Instead of buying the same type of car that you’ve always driven, it may be wiser to list the attributes you are looking for, and then do some research. Really think about what you WANT versus what you NEED.” - Tracey Bissett
***This Week on Young Money:***
- Will shopping around for a car hurt your credit score?
- What negative equity is
- Why choosing the lower monthly fee is not always your best option
- Ways to reduce risk when auto financing
- Financing a purchase versus leasing aka as a long term rental
- The process of leasing a car
- When leasing is a good option
- When car ownership is the right option
- The dangers of a long term car loan (loan longer than 6 years)
-
Protection laws that apply to car buyers and leasees
Key Takeaways:
-
Set a budget and stick to it.
- Compare vehicles. You are not obliged to buy the first vehicle you check out.
- Get a copy of your credit report and check it for any errors before you shop for cars.
- Make sure to test drive the car and read through all the paperwork.
- Make the biggest down payment that you can.
-
When leasing a car, you may have the option of buying it at the end of the lease based on the residual value.
Resources Mentioned:
-
Episode 7: How’s Your Financial Reputation aka Your Credit Score?
- Episode 25: True Cost of Car Ownership
- Consumer Reports
-
Financial Consumer Agency of Canada
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Suzanne Tyson has spent the majority of her career working in roles within the higher education and student funding sectors and is the founder of HigherEdPoints, the only company worldwide that allows parents and students to convert loyalty points into funds to pay for higher education. Due to the assistance she provides to students and parents with the tuition payments, Suzanne was chosen as 2017 Top 7 SheEO Canadian Funded Venture.
Suzanne joins me today to share how you can use your loyalty points to pay for your education. She explains how HigherEdPoints works, the other items these loyalty points can cover, and the significance of learning these financial lessons and teaching them to your children.
“In my younger years I used to think that you earn what you spend – not the best strategy for the longer term.” - Suzanne Tyson
This Week on Young Money:
- What HigherEdPoints is about
- What prompted Suzanne to start this business
- How students can use their funds aside from paying for tuition fees
- Why contributing to RRSP as soon as she finished school and saving something for a rainy day are some of the things she wished she knew when she was younger
- Which schools are included in the program
- How parents and loved ones are made aware of this program
- What SheEO is and what it does
- What the “Middle Sixty” is about
Key Takeaways:
- If you’re starting a business, you have to love the business that you’re starting and the people that you’re going to be working with or helping to carry you through the ups and downs.
- It’s always great to look back on where you spent your money.
- Save money during your younger years.
- Never, ever carry a balance on your credit card.
- A lot of financial learning comes from the parents by not making it a scary subject.
Resources Mentioned:
- Not Your Parents’ Higher Ed Article
- Left High and Dry: Higher Education’s ‘Middle Sixty’ Article
- 8 Ways to Save Money on Your OSAP Loan Article
- Best Sources of Funds for Higher Education Article
Connect with Suzanne Tyson:
- HigherEdPoints Website
- HigherEdPoints on Facebook
- HigherEdPoints on Twitter
- HigherEdPoints on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Leanne Myles is currently among the Top 20 brokers with Premiere Mortgage Centre and was one of the finalists at the 2017 Canadian Mortgage Awards for Best Alternative Lending Mortgage Broker of the Year. Leanne is not only passionate about helping her clients but also in giving back to her community as she raises funds to pay for mortgages of sick people who are undergoing treatment.
Leanne joins me today to share what a mortgage broker does and how they get paid. She talks about how she overcame negative feedback from family and friends in her decision to shift careers from salary-based to commission-based. She also shares how to best prepare if you’re going to work with a mortgage broker and tips for first-time homebuyers.
“We fit the client with the appropriate lender - not the other way around.” - Leanne Myles
This Week on Young Money:
- What mortgage brokers do
- Why her shift from a salary-based job to a commission-based career is the biggest turning point in her life
- Financial matters she wishes she knew when she was younger
- What bruised credit is
- How she determines the right product for clients
- How to work with a mortgage broker
- What clients don’t know about getting a mortgage from a bank
- Open Mortgage vs. Closed Mortgage
- Impact to homeowners based on the recent change in mortgage rules
- How mortgage brokers get paid
- Tips on how to have a good relationship with your mortgage broker
- How to check your credit score aka your financial reputation
Key Takeaways:
- Bruised credit does not mean a bad person. It means somebody who’s been through a major life event.
- Make sure you have the right mixture of credit.
- Take responsibility for your credit reputation.
- If you’re considering buying a home, you need to start a savings account and understand your income and cash flow.
- Home ownership is more than the mortgage payment.
- Be honest and upfront with your broker about your financial standing.
Connect with Leanne Myles:
- Leanne Myles Website
- Leanne Myles on Facebook
- Leanne Myles on LinkedIn
- Leanne Myles on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Emily Bland is the “Seed-EO” of SucSeed, a company dedicated to improving food security and the lives of people across Canada. She is a recent graduate of the Commerce program at Memorial University and has received national recognition and awards for her business and leadership skills, including HSBC's Women Leader of Tomorrow for Atlantic Canada, 21 Inc's Top 50 Emerging Leaders in Atlantic Canada, and was most recently recognized as a 2017 Top 7 SheEO Venture. Her company has successfully impacted the lives of thousands of people across the country and created over 150 jobs. Her company proudly employs at-risk and homeless youth needing a hand-up in life to build the home hydroponic growing systems they offer throughout Canada.
Emily joins me today to share how SucSeed began as an Enactus project while she attended university to becoming a full circle social enterprise. She explains the company’s mission to improve the food security issue throughout Canada as well as worldwide and the charitable organizations they support to give back to the Canadian community. She also shares her biggest financial turning point, how hustling as a young child impacted her ability to become a successful entrepreneur and leader, and the importance of millennials to become more open and willing to discuss financial matters with others.
“No matter where you are, everything can be fixed and everything can be changed if you get the right advice.” - Emily Bland
This Week on Young Money:
- How the idea for SucSeed began as a university project.
- How determination, building the right team, and having the right mentors impacted her ability to succeed in business, life, and managing her finances.
- Her most memorable financial turning point.
- Strategies she uses to plan her company’s financial future.
- How her early childhood experiences impacted her ability to hustle, generate sales, and lead her team as an entrepreneur.
- The importance of being open and willing to talk about finances.
- Challenges she faces as a millennial entrepreneur.
- The importance of managing your finances and how they can affect every aspect of your life.
Key Takeaways:
- Stay determined and motivated.
- Surround yourself with the right people to help you achieve your goals.
- Find a mentor.
- Remember - everything is fixable and anything is possible.
- Follow your heart and your gut!
Connect with Emily Bland:
- SucSeed
- SucSeed on Twitter
- SucSeed on Facebook
- Emily Bland on Instagram
- Emily Bland on LinkedIn
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Learning to drive and becoming a licensed driver is a fundamental life skill. Many teens and young adults anticipate with excitement owning their own car, sitting behind the wheel and driving with their friends to work, school, or activities. As young millionaires-in-the-making think about driving and car ownership, it’s important to develop a financial plan that works and takes into consideration the additional expenses that are associated with car ownership.
On today’s episode, I’m discussing the true cost of owning a car. I’ll highlight some of the key areas that many people often overlook when planning and budgeting to purchase their first car, some important statistics you need to know, as well as the benefits of paying off your car. I’ll also share some alternative transportation ideas you can use while you save for your first car or other important things you want to purchase in the future.
“When you’re considering purchasing a car, be sure to factor in these seven car ownership costs.” - Tracey Bissett
This Week on Young Money:
- Automotive and car ownership statistics you need to know.
- The 7 key cost categories associated with car ownership.
- How much a new car depreciates when it leaves the dealership.
- Why a 20-year-old single man pays on average 23% more than a 20-year-old single female for car insurance.
- The average first-year total cost of owning a car.
- How car ownership costs may be reduced the longer you own the car.
- Alternative transportation strategies you can use while saving your money.
Alternative Transportation Options for Young Millionaires-in-the-Making:
- Bus, subway, light rail transit, or street car
- Car sharing plans such as AutoShare or ZipCar
- Taxi, Uber, or Lyft services
- Carpool with friends
- Carpool with family
- Ride your bike
- Walk
Resources Mentioned:
- YM002 Out of the Mouths of Young Money Masters
- YM006 What are Your Intentions...Financially Speaking with Jackie Porter
- YM020 Business Financing Tips with Sharon Connolly, VP at BDC
- YM021 Banking in the Digital Economy with Neil Durmenter, President and CEO of the Canadian Bankers Association
- YM024 Young, Fun and Financially Free with Leanna Haakons of Black Hawk Financial
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Leanna Haakons is the founder of Black Hawk Financial, a firm specializing in helping clients increase brand awareness and revenue through marketing, communications, and educational services. She is a financial marketing and communications expert with over a decade of experience consulting numerous funds, private and public companies worldwide. Additionally, she is the author of the bestselling financial literacy book, Young, Fun, & Financially Free: Live the Good Life Now and Build a Kick-Ass Future, which was released in December 2017.
Leanna joins me today to share her mission to help finance experts use their expertise to educate their clients on financial literacy. She shares her experience as a young entrepreneur and explains the importance of networking, fostering relationships and being persistent. She also shares how her parents and granddad impacted her financial literacy skills and what motivated her to write her book.
"Think of money as a tool. You have to learn how to use it, make it and make it grow.” - Leanna Haakons
This week on Young Money:
- The keys to her success in the financial industry.
- The importance of networking and fostering relationships.
- How to connect with people that inspire you.
- Her biggest financial turning points.
- How her parents impacted her financial literacy skills.
- Her biggest financial challenges.
- What motivated her to write her bestselling book.
- Debunking myths about investing.
- Side hustle ideas for young millionaires-in-the-making.
- Who inspires her the most regarding financial matters.
Resources Mentioned:
- What to Do When a Client Doesn’t Pay - Forbes article which includes #GetPaidNotPlayed
- Young Presidents’ Organization
- Intelligent Investor by Benjamin Graham
- Mad Money with Jim Kramer
Key Takeaways:
- Foster relationships.
- Be persistent.
- Be open to learning new things.
- Be naturally curious.
- Be resilient.
Connect with Leanna Haakons:
- Black Hawk Financial
- Young Fun and Financially Free website
- Young Fun and Financially Free book
- Leanna Haakons on Instagram
- Leanna Haakons on Twitter
- Leanna Haakons on LinkedIn
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Every March, the Canadian government holds Fraud Prevention Month. It is a public awareness campaign that educates people about fraud and encourages them to recognize, reject and report it. The Competition Bureau works with other organizations such as the Canadian Anti-Fraud Center and Royal Canadian Mounted Police (RCMP) in fighting against deceit, whether online or offline.
In this episode, I’m sharing some signs of frauds and scams and some ways fraudsters can trick you. I’m also sharing some reminders on how to protect yourself and the information on your computer and mobile phone as well as other ways to protect yourself from fraudster deception.
“With fraud, it is important to recognize, reject, and report it.” - Competition Bureau
This Week on Young Money:
- What the Competition Bureau does
- How much Canadians lost to fraudsters between January 2014 and December 2017
- Why the number of frauds reported is low because of the attached stigma
- What happens when frauds don’t get reported
- What the phishing scam is
- Why the emergency scam tricks Canadians
- Example of a wire or supplier fraud
- How to identify an extortion scam
- Other types of scams
- Reminders regarding your personal identification number (PIN)
- Where to report cases of fraud
Key Takeaways:
- A bank or financial institution will never send you an email or call you asking you to disclose personal information.
- Never send your financial information online.
- Don’t click links or open attachments that are in unsolicited emails. Install anti-spam, anti-spyware, and antivirus on your computer.
- Don’t keep passwords on your phone.
- Remember: if it is too good to be true, it probably is.
Resources Mentioned:
- Fraud Facts from the Competition Bureau
- Little Black Book of Scams 2nd Edition from the Competition Bureau
- Fraud Quiz from the Competition Bureau
- Fraud Prevention Tips from the Canadian Bankers Association
- Bank of Canada Counterfeit Money Prevention
- Fraud Prevention & Tools from Visa Canada
- Fraud Prevention from Ebay.ca
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Hilda Gan is an HR specialist, mentor, entrepreneur, and the Founder and Chief People Officer of People Bright Consulting where she combines her knowledge of human resources with business acumen and experience as a business owner. Prior to establishing this new venture, Hilda and her husband built an award-winning transportation engineering consulting company that grew from a staff of two people to 125 working in seven offices across Canada. It gained numerous awards including Top 10 in the 50 Best Workplaces in Canada for two consecutive years and Top 10 in the Small to Medium Size Employers.
Hilda joins me on this episode to share how to identify and land your dream job, negotiate a great compensation package and how to excel in your new role. She shares the elements you need to think about when you sell your achievements during a job interview, how to assess and decide which job is the right fit for you, and how to be a rockstar employee.
“Sell your assets. Tell your achievements.” - Hilda Gan
This Week on Young Money:
- Factors that have led to Hilda's success to date
- Her biggest financial challenge
- Why she and her husband educated themselves about money
- Tips on how to identify and land your dream job
- How to write your resume
- Critical things employers look for in every employee
- How to see if a company is fair and cares about their employees
- How to assess a compensation package - important to assess all of the other benefits in addition to the salary
- Sites you can use to check out company salaries - Glassdoor and Payscale
Key Takeaways:
- Find your passion.
- Building a company’s success is through their people.
- Try to get into the right company rather than one that treats you like a commodity.
- Do your research about the company before your interview.
- Have faith that when you show your worth, the financial benefit is going to show up as well.
- Rockstar employees communicate well, deliver beyond expectations and are engaged.
Connect with Hilda Gan:
- People Bright Consulting Website
- People Bright Consulting on Twitter
- Hilda Gan Linked In profile
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
As the President and CEO of the Canadian Bankers Association (CBA), Neil Parmenter plays a primary role in the development of Canada’s public policy concerning financial services that contributes to a sound, successful banking system that benefits Canadians and Canada's economy. Prior to working with CBA, he was the Senior Vice President and the Chief Communications Officer at TD Bank Group where he led and advised senior management regarding issues in communications, government relations, and public affairs. With 25 years in banking both in Canada and the U.S., Neil currently leads CBA’s education programs on financial literacy and conveys the viewpoint of the financial industry to the government, stakeholders, and the public.
Neil joins me today to share how technology is changing and impacting the banking system in Canada. He shares some challenges he faced as a young man who was starting to learn about financial affairs. He also discusses what is going on in the banking system in Canada, shares his insights on fintech and the exciting items on CBA's agenda that they are working on for the benefit of Canadians.
“The key is to be curious -- learn what’s next, what’s coming, what’s the potential upside, and what are some of the risks that we need to deal with.” - Neil Parmenter
This Week on Young Money:
- Why financial literacy is a fundamental life skill everyone should learn
- Key success factors in Neil's career to date
- How technology is shaping banking today for tech savvy customers
- What Canada Revenue Agency’s website, My CRA, is designed to do and ways to access your tax filing documents
- What fintech is, why it is so important and different ways to look at it
- How fintechs can be successful by utilizing and making meaning of the data that people post online so that financial product offerings can be tailored to what they need at the time
- What needs to change to keep Canada competitive on the fintech world stage
- What the Bank Act is and the challenges it poses in light of the frequency of review
- Why banks need a separate set of rules compared to other businesses
Key Takeaways:
- Be curious.
- Listen and collaborate with people.
- Let your passion and enthusiasm shine through.
- Fintechs are enablers that can help facilitate the banking experience.
Resources Mentioned:
-
Financial Literacy is the Silver Lining that Will Empower Millennials to Master the Gig Economy Article
-
Canadian Banks 2018 Banking in the Digital Economy Article by PWC Canada
- My CRA
- Mint
- Square
Connect with Neil Parmenter:
- Neil Parmenter on Twitter
- Neil Parmenter on LinkedIn
- Canadian Bankers Association Website
- Canadian Bankers Association on Twitter
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
In her commitment to helping entrepreneurs grow their business, Sharon Connolly leads a team as the Vice President of Financing and Consulting at Business Development Bank of Canada (BDC). With her financing experience of more than 20 years, Sharon serves as the regional sponsor for BDC’s Women Initiative Program where she provides financing and consulting services to women-owned businesses and women entrepreneurs.
Sharon joins me today to share a number of business financing tips and the basics that every young and starting entrepreneur should look at as they begin their entrepreneurial journey. She discusses how BDC helps their clients, the significance of having a business plan, and knowing and forecasting your budget and cash flow. She also emphasizes the importance of building relationships for your long-term success.
“Be open to opportunities when they present themselves.” - Sharon Connolly
This Week on Young Money:
- How Sharon learned financial independence and to work hard to achieve her goals
- The difference between BDC and other banks and where to go for particular banking needs
- Why young entrepreneurs need support and mentors
- How a S.W.O.T. (Strengths, Weaknesses, Opportunities, & Threats) analysis helps your business
- The significance of understanding the implications of your business funding
- Why it is critical to build relationships with financial partners and be prepared for meetings with them
- Why you should diversify the lenders you’re working with
- The benefits of budgeting and having a cash flow forecast
- How to seek continual personal development in your career or as an entrepreneur
- What BDC has in store for women entrepreneurs
Key Takeaways:
-
Live within your means and give yourself permission to course correct.
-
Money isn’t enough to be successful in business. You need a lot of support around you as well.
- Build a good personal profile.
- Understand the viability of your project, the market and your place in it.
Resources Mentioned:
- Futurpreneur
- Gail Vaz-Oxlade
Connect with Sharon Connolly:
- Sharon Connolly on LinkedIn
- Business Development Bank of Canada Website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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I started my RRSP (Registered Retirement Savings Plan) at the age of 18 with a contribution of $25 per month - $300 a year! My parents were insistent that my budget, even while I was a student, include this long-term savings component so that my savings would benefit from compound interest. You may remember we talked about compound interest in prior episodes and it means the addition of interest to the principal of a deposit – interest on interest. This compounding impact, reinvesting interest, works well when you have a long-time horizon for your investments. Better to save small amounts and reap the benefits of compound interest versus delaying the start of savings because you do not have a lot to invest.
If you’re thinking of saving up for a car, home, education or trying to figure out your retirement savings to stay or become financially fit in the future, you may have come across two plans the Canadian government has in place: TFSA (Tax-Free Savings Account) and RRSP. It is essential to know the difference between the two to determine how you can save for the long-term and benefit from these plans.
Today, I’m going to give you an overview of the TFSA and RRSP. I compare and contrast the two regarding the appropriate age range of contributors, the pros and cons of each plan, and what happens when you withdraw your money. I also share how each plan impacts your taxes and how you can save your money wisely to have a financially fit future.
“When saving for retirement it is generally good to use a combination of the TFSA and RRSP plans.” - Tracey Bissett
This Week on Young Money:
- Explanation of the TFSA and RRSP plans
- Benefits of each and questions to ask yourself when deciding where to put your money
- How the government computes your contribution room for TFSAs and RRSPs
-
Tax implications for each program
-
Important dates to remember when making contributions
- When to consult a specialist (ie: financial or tax planner) to discuss your personal situation
- Where to find the specific details of each plan – double check before making contributions
Reminders from David Chilton of The Wealthy Barber:
- If you get a refund from your RRSP, don’t spend it. Pay down debt. Reinvest. Do something with it.
- If you go the TFSA route, don’t spend it for anything other than what you’re saving it up for. Do not use your TFSA like a debit card.
- Whichever route you choose, save more.
Resources Mentioned:
- Canada Revenue Agency Website
- The Wealthy Barber Book by David Chilton
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Gordon Stein is the Senior Vice President of Global Sales at Pronto Forms, a leading workflow automation company. Prior to his current role, he headed the Enterprise, Education & Technical Consulting teams and lead the Apple IBM Partnership for Apple Canada. He has served on the Dean’s Advisory Council of the Engineering Faculty of Western University and is a former Governor of the Crescent School as well as the Western University Alumni Association.
Gordon is the author of Cashflow Cookbook, a new kind of personal finance book that provides readers with 60 easy-to-follow financial recipes to help them add between $700,000 to over $2-Million of wealth, with minimal sacrifice, over the course of 10 years.
Gordon joins me today to share what inspired him to write his book, Cashflow Cookbook, and how the simple idea of saving money on monthly car washes has led him on a mission to help people discover unique strategies to save money and build wealth. Cashflow Cookbook has a savings track for both singles and families so that everyone can reap the rewards. He also shares why he believes it’s better to track your net worth rather than focusing exclusively on your budget and shares tips on how you can begin saving money today to build your net worth.
“The key is to lock in those savings into something that’s going to be productive to help you build your net worth.” - Gordon Stein
This Week on Young Money:
- Why identifying what you’re truly passionate about and excel at is critical to your success
- Identifying what the world needs - and how you can serve this need
- His biggest financial turning point
- Why he advises young adults to focus on building their net worth
- What he wishes he knew about finances sooner in life
- The main focus of his book and how it helps readers build net worth
- How often you should review and track your net worth progress
- The importance of reducing recurring expenses
Resources Mentioned:
- Richest Man in Babylon book by George S. Clason
- Rich Dad, Poor Dad book by Robert T. Kiyosaki
- The Wealthy Barber book by David Chilton
- Single Best Investment book by Lowell Miller
- Annual Letters book by Warren Buffett
Key Takeaways:
- Track your net worth regularly.
- Learn everything you can about money and investing.
- Reduce recurring expenses.
Connect with Gordon Stein:
- Cashflow Cookbook website
- Cashflow Cookbook
- Net Worth Tracking Sheet Template
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Super Bowl 52 is just around the corner. I’m excited about this episode as it includes so many of my favorite things money, music, and excellent hustlers -- all of which are part of Super Bowl's entertainment. This year, Justin Timberlake adds to the Super Bowl excitement as he dazzles the viewers during the halftime live performance.
On today’s episode, I talk about the financials of the Super Bowl’s musical talents, specifically those of Justin Timberlake and Lady Gaga. I share an overview of the backgrounds of Justin and Gaga and how they have accumulated net worths greater than $200 million USD -- $230 million for Justin and $275 million for Gaga. I also give a glimpse of their social contributions through the foundations they started such as the Born This Way Foundation, which Lady Gaga founded in 2012, and Justin’s music education programs in schools through the Justin Timberlake Foundation.
“When you plan, you can be financially successful.” - Tracey Bissett
This Week on Young Money:
- Artists who will perform at Super Bowl 52 - P!Nk and Justin Timberlake
- Artists who previously performed at the Super Bowl halftime show including Coldplay, Beyonce, Bruno Mars, Katy Perry, Madonna, Black Eyed Peas and Bruce Springsteen
- How to calculate net worth
- What the musical talents of the Super Bowl get paid
- Other sources of revenue aside from singing
- How Gaga turned things around when she was bankrupt
- Why philanthropy plays a significant part in their lives
- Elements of financial planning to achieve financial success & the Bissett Financial Fitness Framework
Three Traits Justin and Gaga Share to Have Generated Net Worths in Excess of $200 million USD:
- They know how to hustle and earn from multiple revenue streams.
- They surround themselves with good people. When things aren’t working, seek good advice.
- They think long term.
Resources Mentioned:
- EP06: What are Your Intentions … Financially Speaking with Jackie Porter?
- EP08: To Rent or Buy with Alexandra Cote of Sandra Rinomato Properties
- EP03: Do I Want to be a Young Millionaire?
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Amanda Martinez is a Canadian singer and songwriter whose music exultingly blends her unique Mexican and South African roots with Latin soul. Her third and latest CD "Mañana" was helmed by GRAMMY-winning producer Javier Limón. Amanda's previous solo albums have earned her three Latin Jazz Artist of the Year nominations at Canada’s National Jazz Awards and a win for Best World Music at the Toronto Independent Music Awards.
Martinez has headlined at the legendary Blue Note jazz club in New York, at the 2010 FIFA World Cup Festivities in South Africa, and at the 2011 PanAmerican Games in Guadalajara. She also performed in a series of concerts during the 2015 Toronto Pan Am Games and served as the honourary co-chair of the Ignite program.
Amanda has worked as a radio host (launching Canada's JAZZFM91 Latin Jazz program), TV personality (BRAVO Arts & Minds, Star TV!) and actress (including Designated Survivor, Regnesis and Disney's Life with Derek). She also hosts and co-produces Ingredients for a Good Life to promote Mexico to Canadians.
Amanda joins me today to share the practical system she uses to organize and manage her cash flow as an artist while following her passion. She shares details about the people she works with, the resources she uses for realistic planning, and the effects of being organized -- both financially and in general -- to your well-being.
“Create and Embrace Opportunities. Be Bold!” - Amanda Martinez
This Week on Young Money:
- Factors that contributed to her success
- How people starting out in the music industry can set themselves up for financial success
- Why learning to manage the cash flow of her business was so critical
- Things artists misjudge from a financial standpoint
- Tips for starting musicians on how to protect your music
- Her top three success factors
- Details of her upcoming album
Key Takeaways:
- Being the CEO of your company, you should have a clear picture of where you are financially, so there are no surprises.
- Be persistent.
- Don’t take things personally.
- Be bold and creative.
- Have the discipline to do the hard work.
- Create and embrace opportunity.
Connect with Amanda Martinez
- Amanda Martinez Website
- Amanda Martinez on Facebook
- Amanda Martinez on Twitter
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Ellen Wright is an experienced veterinary technician with eight years of experience in the field. Throughout her career, she has worked with countless animals and breeds. While she left her career as a veterinary technician to follow her dream of becoming a registered nurse, she still pursues her love and passion for animals, specifically cats and dogs, by offering pet sitting services.
Ellen joins me today to share how you can plan to make sure you’re ready for the cost of having a pet. She also shares how various breeds play a significant role when purchasing pet insurance, the potential health concerns that can affect different pets and breeds, and how to properly plan travel arrangements for yourself and your pet.
I'll also share valuable tips to help you find the right pet that suits you, your lifestyle, and your budget and the things I considered before purchasing my beloved pet, Rosie.
“Planning the type of pet you get before you even purchase it is really important for your pocket book.” - Ellen Wright
This Week on Young Money:
- The importance of considering your lifestyle when choosing a pet
- Initial acquisition and ongoing costs of pet ownership
- The importance of having pet insurance
- Biggest financial challenges pet owners need to know
- How the breed determines the potential expense regarding potential health issues and travel arrangements
- Wanting a pet versus needing one
Key Takeaways for Young Millionaires-in-the-Making:
- Consider your lifestyle when choosing a pet.
- Consider your family and their opinions about pet ownership.
- Consider the size of your home and how much space it can provide.
- Consider how much time you can commit to owning certain pets.
- Consider the initial acquisition, ongoing, and general costs of pet ownership.
- Plan ahead! Get pet insurance while they’re young. Do it early. Do it before they’re sick.
Connect with Ellen Wright:
- Email: wrightellen7@gmail.com
- Ellen Wright on Instagram
- Ellen Wright on Facebook
- Ellen Wright on LinkedIn
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Kristen Nolan is a high-performance health expert, international speaker, and bestselling author who helps busy professionals increase their energy and metabolism so they have the confidence to be seen, and have the stamina to have a huge impact in their careers and personal lives. She believes that financial and professional success is 100% dependent on how energized, motivated and confident one feels and has made it her life’s mission to help driven men and women achieve success by using simple, yet powerful techniques to bolster their physical health, energy, and stamina.
On today’s episode, Kristen discusses what she does, how she works with her clients, and why she began helping people in the capacity that she is now. She shares her story of being a ballet dancer, her battle for better health, and finding her passion and purpose. She also shares the factors she believes has been vital in achieving success in her life and career.
“People put themselves and their health on the backburner.” - Kristen Nolan
This Week on Young Money:
- How she works with professionals
- What she would have liked to know about finances at an earlier stage of her life
- Tips on sticking to your New Year’s financial and physical fitness resolutions
- Investing in accountability
- Who inspires her when it comes to finances
Key Takeaways:
- The end result isn’t actually the end
- Be fulfilled with what you do
- Consistency - be mindful of what you can do consistently
- Pay attention to how you feel in the process - Am I energized and happy?
Reach out to Kristen Nolan:
- KristenNolan.com
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
2018 will soon be upon us and as we look to the new year, it’s a great time for us to reflect on 2017 and our hopes for 2018. We need to be aware of how and why we spent our money the way we did this year.
"As we move forward on our collective financial fitness journey it is important to remember to take action! Even small changes can have a big impact – you don't need to tackle everything at once." - Tracey Bissett
On today’s episode we are going to examine 2017 and 2018 in relation to the Bissett Financial Framework. I’ll revisit the three elements of the Framework which include 1) Cash Flow, 2) Savings and 2) Debt Management. I’ll also share how you can automate your savings and how to minimize debt so you can be financially fit in 2018.
“Make 2018 the year to get your will and powers of attorney in order – have the right people speak for you when you can't.” - Tracey Bissett
This Week on Young Money:
- What cash flow provides for your financial fitness, and how to assess it
- How savings fortifies your lifestyle including having an emergency fund
- How important debt management is
- Ways you can budget, increase income with a side hustle and minimize expenses
-
Safeguarding your finances for the future and why a will and power of attorneys are important
-
Why you should update your credit report annually
-
Ryan Seacrest - Perfect example of working in a gig economy with side hustles
-
Eleanor Beaton , Women's Leadership Coach
Key Takeaways:
- Take care of your cash flow
- Save, Save, Save
- Manage your debt, don't let it manage you
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Rachel Brownlow Lund is the founder of Me 2 Lead, a coaching organization that empowers ambitious millennial women to become well connected influencers and create incredible lives of impact. A passionate communicator and leadership coach, Rachel helps young women overcome feelings of 'compare and despair' and 'I’m not there yet' to become career-savvy change-makers who work, play and lead in their zone of genius. Over the years she has helped dozens of millennial women and men establish lucrative career advancement opportunities, win thousands of dollars in earned grant money and secure key recommendations that move the needle forward.
On today’s episode, Rachel shares her story of how she got into coaching, and why she does what she does. She shares the steps she took that set her up for success and explains what comparisonitis is and how it can affect your financial goals. We also discuss the benefits of mentors, her biggest turning point, and what she wished she would have known at a younger age.
“If you keep in mind what you’re seeing is someone's highlight reel, that can help with managing your expectations.” - Rachel Brownlow Lund
This Week on Young Money:
- The importance and power of networking, mentors and sponsors
- Her biggest turning point and the impact it had
- The importance of budgeting and the freedom it provides
- The cost of comparisonitis and when it starts
- The role social media plays in comparisons and expenditures (ie: instaworthy and ootd)
- How to recognize if you are suffering from comparisonitis
Resources Mentioned:
- Dave Ramsey’s Financial Peace University
- Sharon Lechter
Key Takeaways:
- Budgets provide freedom, when adhered to you can have everything you want
- Worth is something that should be internal rather than external
- Actively practice gratitude
Connect with Rachel Brownlow Lund:
- Rachel@me2lead.com
- Me2Lead.com
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you prepared for a financially fit holiday season? Since Halloween, we have been bombarded with holiday decorations, advertisements, and sales to prod us into the holiday spending spirit. What does this mean for you, and what actions can we take?
On today’s episode, I share with you some key economic realities for Canadians and provide tips to help you prepare and maintain your financial fitness during this giving season. I’ll also explain what influences people’s spending decisions and why it’s important to create a list and maintain a budget, especially during the holiday season.
“Approximately 50% of Canadians are living paycheck to paycheck and if it was delayed, by even one week, it would be difficult for Canadians to meet their financial obligations.” - Tracey Bissett
This Week on Young Money:
- The reality of financial stability for most Canadians
- The evolution of gift giving
- Where the consumer’s money goes and how it breaks down
- What influences spending decisions, and shopping habits
- The importance of creating a list and a budget
- Looking for unforeseen costs
- What starting new traditions can provide
- Planning ahead and what pacing can do for you
Key Takeaways:
- Set a budget - and stick to it.
- Start a new tradition.
- Plan ahead.
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!
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Welcome to the Young Money podcast - the advice show for young millionaires-in-the-making. I’m your host, Tracey Bissett, the President and Chief Financial Fitness Trainer at Bissett Financial Fitness Inc. I’m passionate about helping people - especially young adults and young entrepreneurs - learn more about their finances to be successful in their financial lives. In this episode, I’m sharing my story and how I got started in the finance industry. I’ll also explain what you can expect from this podcast, the type of content we will cover, and why I felt it was important to launch this podcast.
“Understanding financial matters is a fundamental life skill.” -Tracey Bissett
This Week on Young Money:
- Who is Tracey Bissett
- My first entrepreneurial adventures and the lessons I learned early on
- Moving from Nova Scotia to Ontario
- What we do at Bissett Financial Fitness and who we help
- Why I started the Young Money podcast
- What to expect from the show
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Do you want to be a millionaire? This single word is loaded with multiple meanings - and those meanings are different from one person to the next. Many people have strong negative feelings and emotions about becoming a millionaire while others believe it could bring them the life of their dreams. On today’s episode, I’m going to share the plain and simple truth of what a millionaire is, how to calculate your net worth, and the difference between a millionaire and a multi-millionaire. I’ll also explain what the Bissett Financial Fitness Framework is and how it can help you get financially fit in your life and business. “Even me, I don't think of myself as a millionaire but I am.” - Tracey Bissett
This Week on Young Money: * Examples of personal assets and liabilities * Who should aspire to become a millionaire * The psychological and emotional aspects of being a millionaire * Limiting beliefs surrounding becoming a millionaire * Consistent characteristics of millionaires * The financial fitness spectrum
The Bissett Financial Fitness Framework Key Elements: 1. Cashflow 2. Savings 3. Debt Management
Resources Mentioned in this Episode: * How Rich People Think book by Steve Siebold * 11 signs you will be a millionaire CNBC article by Kathleen Elkins
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Laura Beauparlant is the owner and Creative Director of Lab Creative, a branding and design firm based in Toronto dedicated to helping entrepreneurs and small business owners align authenticity with their brand design to ensure business success. She is an award-winning public speaker that delivers inspiration and passion-filled presentations on branding and design and loves the chemistry she creates with the people she connects with. She strongly believes that the most important part of developing relationships is communication. Laura joins me today to share how she got started in her career, why she decided to move out of the country, and how her previous experiences have impacted her life and business. She also shares the biggest turning points in her life and career as they relate to money and finance, her philosophy on working, and the financial planning strategies she implemented following a serious car accident as a young adult. “If you don’t ask, you don’t get.” - Laura Beauparlant
This Week on Young Money: * Improving your mindset during financially and emotionally challenging times * The financial planning strategies she implemented following her accident * What is an annuity and the benefits of investing in one * Why she wishes she knew more about how to budget her money and finances earlier in life * Her strategy for managing the inflows and outflows of money in her business today * Where she draws her financial inspiration from
Key Takeaways: 1. Be persistent. Be a “do-er.” Don’t take ‘no’ for an answer easily. 2. Be outgoing. Communicate and be organized. 3. Deliver great results to your clients.
Connect with Laura Beauparlant: * Lab Creative * Brand Camp * Facebook * Twitter * Instagram * LinkedIn
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Company Linkedin Page, or by visiting our website.
It’s hard to be a post-secondary student in today’s economic society. The grades you need to get into post-secondary schools are high and the cost of tuition gets more expensive with each passing year. Although there are often grants, scholarships, and other financial programs available, many post-secondary students use credit cards and student loans to put themselves through school. In fact, 9 out of 10 post-secondary students carry at least one credit card to help make ends meet. On today’s episode, I’m sharing some startling Canadian student debt statistics that are impacting our young adults. I’m also discussing the three biggest mistakes people make when educating young adults about student debt, student loans, and using credit cards as well as how to avoid these mistakes and plan for a better, more financially fit future. “Credit cards are neither good nor bad. It’s all in how you use them.” - Tracey Bissett
This Week on Young Money: * Evaluating costs associated with obtaining a post-secondary education * Education costs often overlooked or ignored * The importance of budgeting for post-secondary expenses * What to consider when creating your budget * Understanding the economic realities of post-grad life
Key Takeaways: 1. Don’t just look at the surface costs of post-secondary education 2. Make a budget to detail all your educational expenses 3. Assess cashflow vs expenses and adjust accordingly 4. Post-graduation, figure out your current and expected expenses 5. Recognize it’s perfectly normal to not be able to afford all of your wants and needs immediately out of school
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Jackie Porter is a leading expert in women and finance, a powerful voice in women financial empowerment, and a Certified Financial Planner and Advisor for busy professionals, entrepreneurs, and their families. She has nearly 20 years of experience in the financial planning industry and was recently named a finalist for the Wealth Professional Women of Influence Award for 2017. She is also the co-author of Single by Choice or Chance - a smart woman's guide to living longer and better. Jackie joins me this week to share her thoughts on financial literacy in today’s society and how she helps her clients discover techniques to make their money work for them. She explains why it’s important for young people to develop a plan regarding their money sooner rather than later, and why protecting your credit is vitally important. “You really need to be intentional about money. If you don’t care about money, it won’t care about you.” - Jackie Porter
This Week on Young Money: * The pivotal moment in her life that inspired her to become a financial planner * How she was introduced to the financial planning industry * What she wished she had known about money earlier in her life * Why she believes you don’t need to look a certain way or be of a certain age or gender to start having money conversations * The importance of protecting your credit * Tips on how to financially empower yourself * What inspired her to co-author her book and how it helps women become financially empowered and independent
Resources Mentioned in this Episode: * Rich Dad, Poor Dad book by Robert Kiyosaki * Suze Orman * Blue Chip Kids: What Every Child (and Parent) Should Know about Money, Investing, and the Stock Market book by David W. Bianchi
Key Takeaways: * Think of your money as your employees. Don’t have “lazy money.” * Devise a plan for your money. Be intentional. * Start with a goal. Write down your goals and dreams. See which ones you can make the most use of with the money you have. Work backwards to achieve your goals. * Look at ways to make passive income. * Know your credit score.
Connect with Jackie Porter: * Ask Jackie * Single by Choice or Chance book
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Knowing and understanding your credit score is critical to being financially fit. Your credit score is a determining factor for many things in your life - from buying a new car and opening a credit card account to purchasing a new home and even getting a job. Many young adults today don’t understand what their credit score means or how the financial decisions they make impact it. On today’s episode, I’m going to explain what your credit score is and why it’s important to periodically check your credit report and address any issues that may arise. I’ll also explain how to check your credit report, how often you should check it, and why your credit history matters. “Just like you take care with your personal reputation, it is equally or more important to take care of your financial reputation.” - Tracey Bissett
This Week on Young Money: * Understanding what a credit report is * How lenders and creditors use your credit score * What’s considered good credit, fair credit, and bad credit * Actions that affect your credit score * The benefits of having good credit * Who can see and use your credit report * Types of information included in your credit report * How monitoring your credit report can help you spot errors and signs of identity theft * Understanding the codes associated with your credit report * How often you should check your credit report * How to get a free credit report
Resources Mentioned: * Equifax Canada * TransUnion Canada * Financial Consumer Agency of Canada
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Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Alexandra Cote is a real estate entrepreneur, Property Coach, and Sales Representative at Sandra Rinomato Property and Brokerage where she is dedicated to helping clients reach their real estate goals. She currently serves as the President of the Downtown Toronto Condo Board, is an active member of the Government Relations in Affordable Housing Committees, volunteers for the Toronto Real Estate Board, and has served as a member of the Young Professionals Network Committee. She has received numerous awards and recognition throughout her career, including the Rookie of the Year Award in 2015 at Sandra Rinomato Realty, has been voted the Best Real Estate Agent in Toronto in 2016, and - most recently - Alexandra was the runner-up for the Best Real Estate Agent in Toronto in NOW Magazine’s Reader’s Choice Awards. Alexandra joins me this week to share her story, how she got started in the real estate industry, and what she enjoys most about her career. She explains how the key to her financial success started at a young age, why she recommends home buyers and renters to interview several real estate agents before choosing one to work with, and why she believes it’s important for young real estate professionals to build trust and relationships with their clients in order to succeed in the industry.
“Money is a very emotional thing for a lot of people, but it’s also important to have balance and perspective about it.” - Alexandra Cote
This Week on Young Money:
- The importance of staying grounded and true to your values.
- Developing discipline strategies to stay focused on your values and goals.
- The importance of finding time to disconnect each day.
- Common challenges many young, successful entrepreneurs face.
- The importance of building relationships with your clients as a realtor.
- Her biggest turning point and financial revolution.
- Things she wishes she knew sooner about money and finance.
- Balancing the fear of spending money with spending it responsibly.
Key Takeaways:
- It’s okay to interview several real estate agents to find one that is a good fit for you, your needs, and your financial situation.
- When renting, consider the carrying costs.
- Be prepared for the emotional rollercoaster of buying a home as well as the associated closing costs.
- Remember: Buying a home can be a marathon, not a race. Pace yourself.
Connect with Alexandra Cote:
- Alexandra Cote official website
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Are you selling more than ever before, but finding that you have no money in your bank account to pay your business expenses? Are you overdrawing on your bank account or line of credit? Perhaps you’re struggling to pay your suppliers in a timely manner which is resulting in delayed shipments. Maybe you’re receiving calls or letters in the mail regarding overdue bills. On today’s episode, I’m sharing the three biggest financial mistakes that many small businesses make when growing their companies. I also share tips on how to avoid these critical mistakes so you can grow your business successfully. “It’s hard to run a business when you don’t know what’s happening from a financial perspective.” - Tracey Bissett
This Week on Young Money: * How not focusing on the numbers can impact the growth of your small business * Understanding the difference between profit/income and cash flow from a business and personal standpoint * Understanding the importance of building a relationship with a lending institution early in your business
Success Tips for Growing Companies: 1. Monitor your numbers frequently. 2. Produce not only an income statement, but also cashflow forecasts. 3. Develop relationships with lending institutions early.
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.
Ilana Ben-Ari is the founder and CEO of Twenty One Toys, a company that designs and manufactures toys, workshops, and training programs that teach young adults and children valuable skills such as empathy and failure. She is a multiple award-winning product designer, TEDx Speaker, and has been featured in numerous publications including The Guardian UK, Independent UK, and Time Magazine. Ilana joins me today to share her story on how she founded her company, what inspired her to create the Empathy toy, and how her toys, workshops, and training programs are being used by children and teachers as well as corporate executives. She also shares the challenges she has had to overcome as a young, bootstrapping company and why she believes being bold is critical to the success of a small business.
“In those first years of building your business, it’s really about survival, and that involves a ton of sacrifice.” - Ilana Ben-Ari
This Week on Young Money:
- How the idea for the Empathy toy started
- How her toys, workshops, and training programs go beyond teaching young children about empathy and failure
- Key traits and elements that lead to her success and how she defines success
- The biggest financial revelation in her business
- The importance of thinking strategically to build a long-term, successful business
- The challenges involved in bootstrapping a small business
- The importance of evaluating your business plans and aligning them with your goals
- How she viewed her business in the early stages of growing her business
- How being bold helped her achieve her goals
Resources Mentioned:
- Do Schools Kill Creativity? TedTalk by Sir Ken Robinson
- SheEO
- Playing on Purpose Ilana Ben-Ari at TEDxYouth at Montreal
- Toys as Tools for Communication - Ilana Ben-Ari at TEDxConcordia
Key Takeaways for Young Millionaires-in-the-Making:
- Use money as a tool and vehicle to get you where you’re going.
- Be bold. Ask people for help when you need it.
- Be credible. Follow through with what you say you will do.
Connect with Ilana Ben-Ari:
- Twenty One Toys
- The Empathy Toy
- Ilana Ben-Ari website
Can I AFFORD it?
This episode is sponsored by the masterclass Can I Afford It? How to be certain of what you can and can’t afford in your business in 5 minutes or less every time. This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range to provide the 5 Steps to Cash Flow Clarity.
If you are an entrepreneur with sales at these levels and want to make powerful money decisions, you do not want to miss this important masterclass. Head over to bissettfinancialfitness.com/afford to register now. Stop asking yourself the question can I AFFORD it?
Rate, Share & Inspire Other Young Millionaires-in-the-Making
Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.