Young Money With Tracey Bissett

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

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

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 Post

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 M

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. Ke

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 openin

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: E

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 Thi

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 observed during this pandemic is 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

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 financ

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 pur

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 yo

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 partne

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 min

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’r

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.

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 throug

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 ho

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 buildi

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 f