Young Money With Tracey Bissett

  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 gre

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 live

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…

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

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

  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 go

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

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 h

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

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 approac

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

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 professi

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

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   

  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 thei

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 cryptocurren

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

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 posit

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 fo

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’