Young Money With Tracey Bissett

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:

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 Thi

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 d

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

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 fitn

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

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 celeb

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 TE

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

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 techn

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 lea

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 benef

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.

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 li

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 he

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

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

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

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

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