Young Money With Tracey Bissett

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 seaso

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

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

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.” - Eri

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 te

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

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

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

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 nee

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 yo

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 overs

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

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 t

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.

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

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

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 savi

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 o

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

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 alw