Young Money With Tracey Bissett

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 lik

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

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 th

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 adult

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

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

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

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

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 f

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

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 Wee

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

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 th

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

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 frauds

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 fra

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

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

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… a

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