We’ve all seen the stats…if you started investing in your teens you’d end up significantly wealthier than if you wait until your 20s or 30s. But most of us have no idea where to start or even have the confidence to invest our first dollar before we’re fully ready. Well, as my next guest Jully-Alma Taveras (a.k.a. Investing Latina) shares in this episode, you’ll never be fully ready. And that’s ok! She started investing at 19 and now in her 20s, she’s much further ahead on her financial journey because of it. And now, she creates financial literacy content on your Instagram and YouTube channel, in addition to being a contributing editor at Next Advisor and public speaker, to empower and educate other young women to start investing as soon as possible. Because the thing is, you’ll never be completely ready to start investing and you may make mistakes. But that shouldn’t scare you off from getting started because you can change your investment strategy as you become a more confident and knowledgeable investor. Just take my journey. I started with index funds (but had no idea what those were), then switched to mutual funds, then moved everything to ETFs, and now I do a mixture of ETFs and individual stocks. It’s taken me years to discover the best way to invest for my goals, but I’m so glad I didn’t wait until I was “ready”. For full episode show notes visit https://jessicamoorhouse.com/254 Learn more about your ad choices. Visit megaphone.fm/adchoices

You may remember my next guest from episode 104 in which we discussed money and mindfulness. Well, I’ve got Leisa Peterson back on the show to discuss her new book The Mindful Millionaire! In case you don’t know, Leisa is an author, business growth strategist, money expert, mindset coach and host of The Art of Abundance podcast and the Mindful Millionaire podcast. You see, it’s all about having a millionaire mindset, or having an abundance mindset, to guide you to make better financial choices for your future. Not only that, but she also shares why it’s so important to practice mindfulness and how taking care of your mental health plays into your financial health. I know you’ll love this episode as much as I loved recording it, so make sure to listen, share, and grab a copy of Leisa’s new book! For full episode show notes visit https://jessicamoorhouse.com/253 Learn more about your ad choices. Visit megaphone.fm/adchoices

I’m so excited to share this episode! I was told by others that Kassandra Dasent, a financial wellness engineer, Certified Financial Education Instructor, and speaker, would be an amazing guest…and she did not disappoint. As she shares in this episode, she is immigrated with her mom from Trinidad to Quebec, Canada as a child, and now lives in Florida, USA. And as immigrants to a new country, money was always tight. This led Kassandra to do, as I see so many financial counselling clients do, to rebel as an adult and spend without a plan and eventually get into debt. But everything changed in 2009 when she realized she was in serious consumer debt. Something needed to change if she wanted to live a more balanced, fulfilled, and financially secure life. So, in June 2009, she created a plan to pay off $55,000 of debt in five years. By November 2012 she became debt-free. And now she is on the show to not only share her journey of becoming debt-free, but to explain how she did it, how she continued to stay diligent with her plan and stay motivated, and what lessons she learned she hopes to pass onto others who may be in a similar situation. For full episode show notes, visit https://jessicamoorhouse.com/252 Learn more about your ad choices. Visit megaphone.fm/adchoices

I can’t believe it’s been almost 3 years to the day since I last had Tim Nash, a sustainable investing expert and founder of Good Investing, on the show! You may remember Tim from episode 129 because not only does he know his stuff, but he was the first guest I had on to talk about responsible investing. Since then, a lot has happened! Notably, Tim Nash became a Certified Financial Planner (CFP®) and founded his investment coaching company. He also has been featured in the media regularly to discuss the changes in the sustainable investing landscape. But in terms of the financial industry, more and more companies are developing ETFs and mutual funds that follow ESG criteria (ESG standing for environmental, social, and governance). This is good news because sustainable investing is becoming less of a niche and more the norm. And as I’ve learned over the years, it is critical that we all become more mindful of what companies we invest in for our futures. For full episode show notes visit https://jessicamoorhouse.com/251 Learn more about your ad choices. Visit megaphone.fm/adchoices

Maybe talking about your spending shouldn’t make you feel bad? Maybe a hobby doesn’t have to become a side hustle? Maybe striving towards early retirement by living extremely frugally isn’t the ideal path? These are just some of the fresh takes about personal finance I discuss with my next guest Mykail James, founder of BoujieBudgeter.com. Having had her interest in personal finance sparked in her early school days, Mykail naturally went on to obtain her MBA in accounting and become a Certified Financial Literacy Instructor. But what’s unique about Mykail is she likes to use her fresh take on finance to reach people outside of the normal personal finance bubble. That’s why she uses pop-culture references, relatable language, and Instagram as one of her main platforms to help her audience understand confusing concepts like budgeting, saving, and investing…and actually feel good about it at the same time! Because living your best life shouldn’t be about doing something extreme and unsustainable, like living on practically nothing for years or side hustling until you burn out. You can live your best life and still work towards your financial goals as long as you practice being intentional and well, take some of that traditional financial advice with a grain of salt. For full episode show notes visit https://jessicamoorhouse.com/250 Learn more about your ad choices. Visit megaphone.fm/adchoices

I’ve been following A Purple Life on Twitter for a while now. So, when I saw her tweet about finally quitting her job because she’d reached her financial independence number of half a million dollars this summer, I knew I needed to have her on the show to share her story! Purple (that’s what I’ll call her to keep things simple) started her personal finance blog back in 2015 when she was only 25 to document her journey of becoming financial independent and eventually retiring early. Originally, her plan was to have enough saved up to retire by 2025 when she would be 35. But, as she saved and invested her money, and lived well below her means, she was able to achieve FIRE five years early! Not only that, she made the decision to follow through with her plans during the pandemic. From the outside looking in, that seems like a fairly bold move, but not by Purple. As she explains in our interview, it didn’t have much effect on her plan to retire at 30. She had a solid investment plan, she understood her personal risk tolerance and didn’t freak out in March when the market tanked (unlike many of us), and she also knew that if she had to earn more income, she could through the job she was leaving. Another thing I want to point out that we didn’t really discuss in this episode is that Purple is a person of colour. You may not know that since she’s anonymous online, but I think this is very significant. When you look at the FIRE community as a whole, it’s very white. Purple is actually the first guest I’ve had on my show who achieved FIRE and isn’t white. I’m pointing this out because I’m hopeful that moving forward, and by sharing more examples like Purple, that the FIRE community will become more diverse and better represent what our world actually looks like. For full episode show notes visit https://jessicamoorhouse.com/249 Learn more about your ad choices. Visit megaphone.fm/adchoices

I almost never slide into anyone’s DMs, but if I do…it’s to beg them to be on my podcast. So when I saw some news articles online talk about Dan Price, CEO of Gravity Payments, and the effects of the $70,000 minimum wage increase he implemented 5 years ago (a story that went viral globally!), I thought this was my chance to just ask and see what happens. And it worked! Not only that, Dan has since written a book called Worth It all about his journey of becoming an entrepreneur, going from no money to millionaire status, and then making the radical decision to cut his million-dollar salary to $70,000/year so he could increase the wages of all his staff. In this episode, we talk about his relationship with money, his experiences mingling with the 1%, income inequality, universal basic income, and what he hopes to achieve with his $70,000 minimum wage into the future. All I can say is I hope more CEOs take a page out of his book (pun intended) because people not only deserve a living wage but a wage the can make a huge difference in their overall quality of life. For full episode show notes visit https://jessicamoorhosue.com/248 Learn more about your ad choices. Visit megaphone.fm/adchoices

Ask and you shall receive! Having a guest on to talk about starting a family and what to do with your finances has been a popular request from listeners, so I’m excited to finally share this episode! I of course thought of having Shannon Lee Simmons on the show to talk about this. Not only is she an amazing guest (listen to her on episode 151 and episode 184), she’s also a mom and offers baby-proofing your finances services as part of her financial planning firm – The New School of Finance. Shannon mentions in this episode that as a financial planner, she works will people all the time who come to her worried that they have to achieve a certain amount of wealth before they can start a family. But the truth is, people all around the world have kids in different circumstances, and they make it work with little or a lot! It’s all about your expectations and figuring out how to balance them with your income. Moreover, you don’t need to buy all the things! Although having kids can be expensive, there are a number of ways you can save money and make it work within the constraints of your income. It may mean cutting some expenses, or putting a pause on some future plans. But people do it all the time, and so can you. For full episode show notes visit https://jessicamoorhouse.com/247 Learn more about your ad choices. Visit megaphone.fm/adchoices

Oh my goodness, what a week last week was! But I’ll get to that in a bit. I’ve got one hell of a guest this week though. Jackie Porter, a financial planner, author and speaker, joins me on the show to share her incredible story of getting into financial planning but also to discuss her book Single by Choice or Chance. Over the years of having the podcast, I’ve gotten so many questions from single people asking what should they do differently with their money? What are some important considerations they should be aware of? Jackie shares her wisdom because not only has she gone through it herself but she’s also worked with numerous clients over the years. Ok, back to last week. Not only was the launch of Season 11 my best ever (I got the highest amount podcast episode downloads on launch day than any other day in the history of my podcast!) but I have some very exciting news to share…I passed! As I shared at the end of the episode, I’ve been studying all summer for the Canadian Securities Course. It’s broken down into two parts, and last week I passed the first exam. And it was tough! But it feels so good to be over and done with. Now, onto the second exam this October. Thanks so much to everyone who sent me good vibes, I really appreciate it! Now continue to send them over to me so I pass the next one! For full episode show notes visit https://jessicamoorhouse.com/246 Learn more about your ad choices. Visit megaphone.fm/adchoices

Well, that was a much-needed break that I needed from the podcast…how about you? This year has been intense to say the least. And it’s still going. I ended Season 10 on what I thought was a hopeful note. Amongst all the chaos we’re experiencing, I do believe there is also a lot of light. With that, I’ve been recording guests for Season 11 all summer to make this my best season yet. Full of inspiring interviews, diverse voices, and actionable takeaways we can all use to turn these uncertain times into that wake-call many of us need to do more and live more intentional and positive lives. That’s why I wanted to kick off this season with a very inspiring and positive guest, Bob Burg, author of The Go-Giver. As I shared in this episode, I’d previously heard of his book, but it wasn’t until I did a call-out on Twitter about what everyone’s favourite personal finance books were that I was introduced to Bob. Although it’s not a personal finance book in the traditional sense, it is now one of my go-to recommendations for anyone who is struggling in the areas of growing in their career and planning out a path for personal or professional success. No joke, I read this book in maybe two sittings. Then I got my husband to read it right after. I loved it. I really did. It hit home on so many fronts, it almost felt like I was meant to read it at that specific point in time. We talk about a few different sections of the book in this episode, so hopefully, you’ll absorb some of the key takeaways I got from reading it, but of course, I highly recommend grabbing a copy too! For full episode show notes, visit https://jessicamoorhouse.com/245 Learn more about your ad choices. Visit megaphone.fm/adchoices

I've got some big news to share! Starting Wednesday, July 15, I'll be doing my Fix Your Finances Masterclass LIVE for 6 weeks. Enroll now and join me this summer to make some big moves with your money (because let's be honest, we're all still stuck at home, so why not make the most of it?). For more info visit https://jessicamoorhouse.com/fixyourfinances Not only that, I've just unveiled my Shop page on my website, that have 7 new budget spreadsheets and a bunch of other helpful financial resources to check out. Check it out at https://jessicamoorhouse.com/shop Hope you're having a great summer so far! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello wonderful podcast listener! This is my final episode of Season 10 of the Mo’ Money Podcast, and I want to end this season by discussing something very important to me and quite honestly the human race right now. There are global protests both online and offline to fight against the systemic racism that exists in Canada, the U.S., and the rest of the world. It’s 2020, and despite all the progress and innovation we’ve made as a society, racism still exists. Inequality still exists. Injustice still exists. I have been so emotional all week. I’m heartbroken about the innocent lives that have been lost due to police brutality. I’m heartbroken that people of colour have suffered for so long while their white allies (like me) have done nothing to help. Enough is enough. I believe what’s happening right now is a tipping point leading to major change. And I for one want to take action. One of the things I’ve done is made a choice to no longer support FinCon, a financial conference I’ve attended since 2014. You can find more info on my Twitter page, but let’s just say I am an anti-racist and I refuse to support anyone or any institution that does not uphold those basic values. The thing with money is it has everything to do with race. Moreover, money can be used to make positive change and fight against racism. One way I’ve been trying to lend support to the black community and the protests is by donating money to various bail funds, victim funds and Black Lives Matter. I will also never be attending FinCon again and as I’ve just received my refund for that event, I will be redirecting those funds to another cause to help people of colour. Right now isn’t the time to see how things play out or be afraid of not being liked. Right now is the time to speak up and be vocal. It’s time to condemn racism, support people of colour, and not just say you’re an ally, but prove it! For myself, besides donating money, I’m going to continue to educate myself, I’m going to support more BIPOC businesses, and I will be making the next season of my podcast more diverse in terms of guests. It is something I’ve always tried to do, but just looking at the Season 10 line up, I know I can do way better. If you want to take action also, below are some ways you can vote with your dollars, as well as a long list of fantastic BIPOC personal finance influencers to support. Please follow them, consume their content, and amplify their platforms. Their voices need to be heard. Thanks for listening to this episode and supporting me in these 5 years of having the podcast! I’ll be taking a summer hiatus, and will be bringing back the podcast in late August or early September. To stay in the loop, you can follow me on social media or better yet sign up to my email list. I will most likely pop in and do a few special podcast episodes during the summer, but otherwise, I plan on taking this time to focus on a few projects I’ve had on the backburner and make more videos for my YouTube Channel. Thanks again for listening and I’ll catch you back on the podcast soon! For full episode show notes visit https://jessicamoorhouse.com/244 Learn more about your ad choices. Visit megaphone.fm/adchoices

We're here! This is it! We've arrived at episode 243, the last interview episode of Season 10 of the Mo' Money Podcast...and my 5-year anniversary of starting this podcast! It is actually insane that I started this show half a decade ago, have interviewed hundreds of guests, and am still going. I do want to acknowledge that things have been very difficult in the world right now. I have a solo podcast episode that I will drop tomorrow to talk more about it, but if you follow me on Twitter or Instagram, then you already know my stance and my feelings about everything. It's been a trying week trying to focus on anything, but I think what's going on right now is so important for us to progress as a society. But, that's not what this episode is about. For this last interview of the season, I have the amazing Lauren Silbert, VP, General Manager of The Balance (one of my favourite personal finance resources). I recorded this episode a month ago at the beginning of May, and we discussed how to make sense of money (and manage it the best way possible) during this pandemic. I just learned that in Ontario (where I live), our State of Emergency status has been extended until June 30, so we are still in the thick of it. I have no idea what the rest of the year will look like, but if there's one thing I do know, it's what to do with your money during uncertain times. This is the time to preserve your capital, save up that emergency fund I always talk about, and avoid making any emotional decisions with your money. Moreover, this is the time to start taking your finances seriously. I know it can feel overwhelming and stressful, but during chaos is the best time to try to create some stability in your financial life. So even though I'll be going on summer hiatus for the show (I'm sure I'll pop in with a few bonus episodes though), take this time to listen to other podcasts, read blogs and books, and make improving your financial literacy your number one priority. For full episode show notes visit https://jessicamoorhouse.com/243 Learn more about your ad choices. Visit megaphone.fm/adchoices

Brag isn’t a dirty word! Or at least, it shouldn’t be. That’s what Meredith Fineman, author of Brag Better, shares in this episode all about how to master the art of self-promotion. Meredith is the founder of FinePoint, a leadership and professional development company focused on training women on bragging, a systemic issues issue she hopes to eradicate. She is also an entrepreneur, media expert and freelance writer who has written for outlets like the Harvard Business Review, Forbes, FastCompany, and Inc. You see, if you don’t promote yourself and tell others what you’re good at and what you’ve achieved, no one’s going to ask! The advice that your work will speak for itself, unfortunately, isn’t true anymore (and who knows if it ever was true!). In today’s society, if you want to succeed in life and you’re career, you need to brag about yourself. And no, that doesn’t mean being arrogant or boastful in the negative way you may think. It means knowing who you are, what you want, and understand how to get to where you want to go while also lifting others up at the same time. We dive deep into this topic in the second to last week of Season 10 of the podcast, so I hope you really enjoy it as much as I did interviewing Meredith! For full episode show notes visit https://jessicamoorhouse.com/242 Learn more about your ad choices. Visit megaphone.fm/adchoices

Money influences us all in different ways. Our childhoods and backgrounds specifically have a big impact on how we think, feel and manage money later in life. But ultimately, money is just a tool. It’s up to us to decide how to use it to write our own money story. And my guest Tara Falcone knows this all too well. As she shares in this episode, she grew up in a low-income household in which money was scarce, compelling her to start working and earning money at a young age. Realizing that she didn’t want money to have such a tight hold on her adult life, she worked hard in school to get accepted to Yale and enter a career as an investment analyst in New York City. After 4 years in the industry, she left to dedicate her time and knowledge to a larger audience by starting her financial literacy company ReisUP. She also got her Certified Financial Planner™ designation and became a Certified Financial Analyst® charterholder. Now, she offers financial literacy programming to universities to help educate students, as well as her own audience of followers. But the most inspiring thing about Tara’s story is how she chose to use money as a tool of empowerment. Money used to restrict her family growing up, but she didn’t want that for when she eventually starts a family. That’s why she named her company ReisUP, to encourage others to rise up and take control of their financial future like she did. For full episode show notes, visit https://jessicamoorhouse.com/241 Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s been way too long since I first had Doug Hoyes, licensed insolvency trustee and co-founder of Hoyes Michalos, on the show! I’m talking years! He was first on the show to talk about consumer proposals and bankruptcies back in May 2016 for episode 49, and he’s back to talk about things to consider if you’re dealing with mounting debt during this pandemic. Not only that, but he is now also an author with his book Straight Talk on Your Money, which we also discuss in this episode. What I enjoyed most about his book is his very unique perspective on some of the money myths or traditional financial advice we’ve all heard over the years. Since Doug has worked with a number of clients over the course of his career, he has seen almost every situation possible first-hand. If you haven’t read it yet, I’d highly recommend it. There are some great sections on day-to-day money management and dealing with debt that I found so different in their take. For instance, a common piece of financial advice is to pay off either your most expensive debt or your smallest debt first. But maybe the best route to take is to pay off your callable or secured debts first since those debts are linked to assets that can be taken away. For full episode show notes visit https://jessicamoorhouse.com/240 Learn more about your ad choices. Visit megaphone.fm/adchoices

Many Canadians are feeling the financial effects of the pandemic and as a response the federal government as launched several financial relief programs to help out. To explain what the different programs are and how eligibility works, I’ve got personal finance expert and author Preet Banerjee finally back on the show! If you’re a longtime listener of the Mo’ Money Podcast, then you’ll remember that Preet was one of my first ever guests on episode 17 in which he talked about his book Stop Over-Thinking Your Money, and made sure I got life insurance and a will after our recording (it works because I did!). For full episode show notes, visit https://jessicamoorhouse.com/239 Learn more about your ad choices. Visit megaphone.fm/adchoices

Is right now a good time to invest? Yes! But also...so was a 6 months ago, a year ago, 10 years ago (you get the picture). Remember this famous Chinese proverb: “The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb The same goes for investing! Don't try to time the market, just get into the market and stay there. One of the best things I ever did was start investing when I thought it was the wrong time (in 2010 when the stock market started to recover). I thought I missed the boat and I was doing it all wrong. Cut to a decade later and no, I didn't do it wrong. I did it right by starting to invest as soon as I could afford to, and making regular contributions to my investments during all the ups and downs we saw in the past 10 years. So if you want to get started with investing, I highly recommend you start educating yourself more about it, gain some financial confidence, then go for it! Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you ever watched the show Ballers with Dwayne Johnson? I know, that doesn’t sound like the type of show I’d watch (I know nothing about sports!), but my husband was watching it one night and told me it was about an ex-NFL player who becomes a financial planner. Now that’s my kind of show! Well, cut to present day and I have basically a real-life “baller” on the podcast! Jedidiah Collins played for the NFL for seven seasons, and studied to become a CFP on the off-season. Post-NFL career, he now owns his own financial services company, does public speaking and is on a mission to educate others how to make their money work better for them. We get into what it was like playing for the NFL, earning those big game cheques, and how he was able to avoid being another sports star who ended their career with no savings in the bank. We also dive into his new workbook Your Money Vehicle that he developed to be an actionable guidebook for others to build their own financial plans and set themselves on the right path. For full episode show notes visit https://jessicamoorhouse.com/238 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, new (and more flexible) criteria for the Canada Emergency Response Benefit (CERB) was announced. That means that if you weren't originally eligible to receive the $2,000 benefit payout, you might be now! Important Resources Apply for CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application.html FAQs about CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application/questions.html Scenarios for Eligibility: https://toronto.citynews.ca/2020/04/01/faq-canada-emergency-response-benefit/ Info on COVID-19 Economic Response Plan: https://www.canada.ca/en/department-finance/economic-response-plan.html Learn more about your ad choices. Visit megaphone.fm/adchoices

Life is crazy sometimes. Back in 2009, when I was struggling to find a full-time job after university thanks to the Great Recession, I got an on-call job as a teleprompter operator for Global News thanks to my dad putting a good word in for me (he’d worked there for over 20 years). It was honestly a god send because it meant I could earn a little money, pay off my student loan and start saving to eventually move out of my parent’s basement. Anywho, while I worked there (and I ended up keeping that job as a side hustle for 3 years) I would sometimes see the ladies from Smart Cookies appear on the news and share their personal finance wisdom. Cut to 2020, as we enter possibly another recession, I’ve got Smart Cookies co-founder Katie Dunsworth-Reiach on my podcast to talk about how to navigate your money during these uncertain times. And since her personal finance journey was majorly impacted from the last recession too, she has some amazing advice and food for thought in this episode. Just remember, we’ve gone through many recessions in history before, and there will be many more in the future. It’s how you react and what actions you ultimately take during those hard times that will define your path. For full episode show notes visit https://jessicamoorhouse.com/237 Learn more about your ad choices. Visit megaphone.fm/adchoices

This Monday, April 6, applications opened up to anyone eligible for the Canada Emergency Response Benefit (CERB). Even though the application process is incredibly simple and easy, finding out if you're eligible...not so much. I go through exactly how to find out if you're eligible for the $2,000/month benefit in this episode. Important Resources Apply for CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application.html FAQs about CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application/questions.html Scenarios for Eligibility: https://toronto.citynews.ca/2020/04/01/faq-canada-emergency-response-benefit/ Info on COVID-19 Economic Response Plan: https://www.canada.ca/en/department-finance/economic-response-plan.html Learn more about your ad choices. Visit megaphone.fm/adchoices

Since so much is going on and many of you listening are looking for some financial relief during this pandemic, I thought I would do another special episode with my pal Erin Lowry who is a money expert in the U.S. and the author of Broke Millennial and Broke Millennial Takes on Investing. Erin has been hard at work compiling a number of resources in a massive Google spreadsheet (link below) to help you during these uncertain times, and she joins me in this episode to share what you need to know about applying for unemployment insurance and getting your stimulus check if you're living the U.S. Unemployment Insurance Department of Labor website: https://www.dol.gov/general/topic/unemployment-insurance Career One Stop website: https://www.careeronestop.org/ Stimulus Check https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know Broke Millennial's Coronavirus/Recession Relief Hub https://docs.google.com/spreadsheets/d/13OdpUwbi_VytzS4trSsGx25FxElrozbegPZK8KnSLpU/edit#gid=141836046 Support Erin & Buy Her Books Broke Millennial Broke Millennial Takes on Investing Learn more about your ad choices. Visit megaphone.fm/adchoices

I can’t believe it’s been over 2 years since I’ve had Chris Guillebeau on the show to promote his book Side Hustle, and of course to share his expertise about side hustles. Well, he’s back with a brand-new book, and this time his first work of fiction, called The Money Tree. This book is actually pretty timely, since it focuses on characters dealing with some tough times financially, so you’ll definitely be able to relate to the story. But since it’s still a book about money, it also offers some solutions and helpful advice on how to overcome these obstacles, how to think differently about your money and earning potential, and how to not let the outside world determine the course of your future. I personally found his book super inspiring, so I hope you enjoy this podcast episode and of course pick up a copy of Chris’ new book! For full episode show notes visit https://jessicamoorhouse.com/236 Learn more about your ad choices. Visit megaphone.fm/adchoices

It's totally normal to feel anxious about everything going on right now. Just like you, I've been battling with my anxiety for the past several weeks, but I've started to do a few things to manage it better. It's no good feeling worried and anxious for weeks or months on end, so here are some things I'm doing to control my anxiety so I can live a relatively normal life until the stock market stops being an up and down rollercoaster and there's a solution to this health crisis. Set up a new normal routine (shower, dressed, breakfast, to-do list, etc...) When working from home, set up a dedicated work station Take breaks, such as using the Pomodore Technique, which involves working for 25 minutes (set a timer) then taking a break. https://francescocirillo.com/pages/pomodoro-technique Limit your info intake each day from the news and social media Exercise daily Journal each day or week Meditate Sleep at least 8 hours per day and have a set sleep schedule Socialize online Avoid/limit alcohol and drug dependency Think of life in 1-2 week chunks (or day by day) Accept that anxiety and fear are normal for what’s going on right now Be careful with "What Ifs" Get professional help if needed Learn more about your ad choices. Visit megaphone.fm/adchoices

Due to the tanking stock market, mass job layoffs, and the pandemic, many Canadians are finding themselves in a situation where they are no longer earning an income (or now have a reduced income) and don't have an emergency fund. If you don't have any new money coming in and you don't have any money saved up, what can you do? Recently it was announced that some lenders, including the big banks, in Canada will be providing mortgage borrowers the opportunity to defer their mortgage payments. To explain more about what this actually looks like and what this could do to your credit score, I'm joined with credit expert and author Richard Moxley for this special timely episode. More info about mortgage deferrals: https://www.cmhc-schl.gc.ca/en/finance-and-investing/mortgage-loan-insurance/the-resource/covid19-understanding-mortgage-payment-deferral Make sure to support Richard and grab a copy of his new book The Credit Game: https://amzn.to/2y5UjeA Learn more about your ad choices. Visit megaphone.fm/adchoices

I know revising or even setting new financial goals may seem like the last thing you want to do right now (I get it, there’s a pandemic going on!), but right now is actually the perfect time to sit down and take a hard look at your finances. If you don’t have a budget, this is the time to make one. And if you do, it’s time to make a new one because you can stop those auto-contributions to your travel fund. To discuss this and her new book The 100 Day Financial Goal Journal I’ve got Alyssa Davies on the show, blogger and YouTuber at Mixed Up Money. Aside from talking about the importance of having a budget and tracking your spending, we also discuss how to set and plan for different types of financial goals like homeownership and starting a family, and Alyssa shares some tips and techniques to help you get started. For full episode show notes visit https://jessicamoorhouse.com/235 Learn more about your ad choices. Visit megaphone.fm/adchoices

Since this week’s episode featured another guest who was able to achieve F.I.R.E. in his 30s, I thought it would be a great topic for this week’s Money Minute! Since we are currently in a bear market, similar to the one that happened from 2007-2009, this is actually the best time to build wealth. From all the guests I’ve had on my show, that’s how they were able to achieve financial independence and retire early…they invested during the last recession and reaped the rewards. If you have dreams of reaching financial independence, a great first step is to pick up one of these great books: Financial Freedom by Grant Sabatier Your Money or Your Life by Vicki Robin Quit Like a Millionaire by Kristy Shen and Bryce Leung Work Optional by Tanja Hester The Simple Path to Wealth by J.L. Collins How to Retire Early by Robert and Robin Charlton Millionaire Teacher by Andrew Hallam Since we’re all being told to practice social distancing, that doesn’t mean you have to stop talking to people! Make sure to join my Facebook group and join in the conversation: https://jessicamoorhouse.com/facebookgroup Learn more about your ad choices. Visit megaphone.fm/adchoices

I finally have Kornel Szrejber from Build Wealth Canada on the show!  As a Canadian, I’m always considering what the right financial advice is so I can, in turn, curate the best personal finance content for you guys. Kornel’s mission is very similar to mine, only he’s FI and paid off his mortgage by 32, which is of course incredible!  On the podcast today we’re talking about how to become financially independent (FI) and learning a little more about what the path is toward FI. Kornel and his wife lived together in their twenties and focused their dual-income household toward paying off any debts and their mortgage. In achieving his goals he is now focused on his early retirement and navigating life as a young retiree.  Toss the headphones on and tune it for this energetic interview with Kornel and learn a few ways on how you can create a financially independent life for yourself! For full episode show notes visit https://jessicamoorhouse.com/234 Learn more about your ad choices. Visit megaphone.fm/adchoices

We are still dealing with a volatile stock market and health crisis, and everyone, understandably, is feeling anxious and panicked. Even though we’re in an uncertain time, here are some of my tips for what to do based on some of the messages I’ve been getting recently. First off, if you’re currently investing and feel like your job is fairly stable, then don’t do anything differently than what you’re currently doing. Continue to make your regular contributions to your investments to practice dollar-cost averaging and ride out this wave because the stock market will recover. And if you have some extra money laying around and feel comfortable doing so, you can even increase your investment contributions. If you want to try your hand at investing in individual stocks or ETFs, this is a good time to buy, however, it is still risky and you need to understand what you’re doing and the risk you’re taking on. The stock market will most likely continue to plummet, so as long as you plan on buying and holding for the long-term, you will eventually see positive returns in the future. Just make sure you’re only dedicating a small percentage of your portfolio to this type of investing. Secondly, if you don’t feel safe at your job and there is the risk of being laid off or having your hours cut, this is the time to focus on your emergency fund. Cut back on other expenses so you can dedicate more funds to your emergency fund, and if necessary either pause or reduce your investment contributions if you don’t think you have enough cash saved up in the event that you lose your job. Thirdly, if you want to take this time in self-isolation to increase your financial literacy, then read books and blogs, listen to other podcasts, and if you are interested, sign up to my Investing Foundations for Canadians online course. Learn more about your ad choices. Visit megaphone.fm/adchoices

Gerry Vittoratos has been working for Thomson Reuters for over 10 years as a trainer and tax support resource person. In his capacity as head trainer, Gerry has been providing training sessions to tax professionals all over Canada. He has also made several radio and TV appearances on BNN and Global TV as the UFile tax specialist discussing a multitude of tax topics. Here are some of the things we talked about in this episode. Tax Brackets, Average Tax Rate & Marginal Tax Rate. We talked at length about tax brackets and how in Canada we have a progressive tax system. That means that you pay different tax rates on different portions of your income. Your average tax rate is the amount of tax you pay divided by your income. Average Tax Rate = Total Tax / Total Income Your marginal tax rate is the amount of tax you would pay on your next dollar of income. With that said, your average tax rate is what you need to know because it will show you how much money you have to pay the government in taxes. To help, check out UFile’s Income Tax Calculator. Refundable & Non-Refundable Tax Credits: both are still good, but ultimately refundable tax credits are the best kind because you can a tax refund if you use it. For non-refundable tax credits, they only decrease the amount of tax you owe. If you owe $300 in taxes and your non-refundable tax credit is for $500, you won’t get $200 refunded to you. Your taxes owed would simply become $0. For more information, check out the CRA’s page on non-refundable and refundable tax credits. There are a ton of tax credits you can take advantage of, and when you use a tax software like UFile, it will help you find out which ones you qualify for. If your investments are in a TFSA and/or RRSP, then you don’t have to pay any taxes on any investment income you earn from interest, dividends or capital gains. But, if your investments are in a taxable (unregistered) account, then you will have to pay taxes. For any interest you earn (GICs, savings accounts, bonds…), those amounts are taxed at your marginal tax rate. For any Canadian dividends you earn, you may be eligible for the Canadian dividend tax credit which will lower your tax rate on that income. For any capital gains you earn (the profit you earn when you sell stocks or equity mutual funds or ETFs), only 50% of those capital gains are taxable. That means you get to keep 50% of that profit and not pay tax on it, and the remainder is taxed at your marginal tax rate. For full episode show notes visit https://jessicamoorhouse.com/233 Learn more about your ad choices. Visit megaphone.fm/adchoices

So…it’s been a crazy few weeks (understatement of a lifetime)! I almost never do “timely” podcast episodes. I typically record all my episodes a few months or weeks in advance, so it’s hard to do an episode that is about what’s going on in the news and it still be fresh or on trend by the time it’s published. But, since what’s going right now with COVID-19 and the stock market is something I have never seen or experienced before, I knew I needed to have an episode to talk about it. That’s why I’ve got Janna Herron, Personal Finance Editor for Yahoo Finance, on the show today to discuss what exactly is happening, how we should react and how best to manage our money in these uncertain times. Here are some of her top tips which I completely agree with. 1. Don’t Panic I know you’ve probably been hearing this a lot, but honestly it’s the best advice you can take. I understand it’s easier said than done. I myself am trying not to panic. A lot has changed in my life and business in just the past few weeks, such as all my future speaking engagements have been canceled, so it’s hard not to panic and think the worst. But just remember, the best thing you can do is stay calm to maintain a clear head. When you let that panic take over, you’ll start to make emotional decisions that may not be the best choices for you in the long-term. 2. Don’t Sell Off All Your Investments Another piece of advice that’s easier said than done, but I would really implore you not to make a very rookie investing mistake which is selling off all your investments to free up cash because you’re panicked. I’ve even had thoughts of selling some things off, or stopping some of my investments to have more cash on hand. That’s a natural feeling to have! Our instincts are telling us to cash out and run away from danger, but when it comes to long-term investing you cannot do this. This is the time to continue investing or if you can afford to, dump more money into your investments. 3. Free Up Cash Flow If You Need To Now you may be thinking “What if I need cash though?” If you don’t have a fully funded emergency fund that can float you for 3-6 months if you lose work, then that’s obviously a different story. If you feel like your livelihood is at risk, then it’s important to have cash on hand. And by that, I don’t mean literally get cash out of the bank to put under your mattress (though there’s nothing wrong with having some physical cash at home). I mean that in order to prevent you from going into debt, you need to have cash to pay for things if your income dries up. In this instance, there’s a few things you can do. File your taxes. It’s tax season after all, and you may be due for a nice tax refund. Put those funds to good use by putting them into your emergency fund. Cut or pause any unnecessary subscriptions Cut back other unnecessary expenses, like eating out (this is actually the best time to start eating in and meal prepping). Call your lenders and creditors to see if they can reduce your regular debt payments temporarily. Contact your utility companies to see if they can reduce your payments temporarily. Sell things you don’t need if there’s a market for them. If you’ve always wanted to start an online at-home side hustle, this is the perfect time to start! If you’re still worried about not having any cash, then either reduce your regular contributions to your investments, pause them (but don’t forget to restart them when you can afford to), or if you’re really desperate, liquid some of your investments (ideally from your TFSA or taxable accounts first, not your RRSP). And if you need to borrow money, make it your last resort and avoid high-cost debt like credit cards and payday loans. Work with your bank to secure either a close-ended loan with set payments or a line of credit. For full episode show notes visit https://jessicamoorhouse.com/232 Learn more about your ad choices. Visit megaphone.fm/adchoices

So...what the heck is going on with the stock market right now? Because everyone is freaking out from all the headlines, Twitter hashtags and conversations around the water cooler. Here’s the thing, we are currently experiencing a market correction, not a crash. That being said, this market correction could lead us into a bear market, which means interest rates and stock prices may sit at a lower point than we’ve experienced for a while. That’s okay. It’s part of the natural market cycle. We’ve had one of the longest bull markets in history, so we were overdue. The key thing to know is not to panic. Make sure you have an investment plan and are sticking to that plan. Make sure you continue to practice dollar-cost averaging and are still contributing regularly to your investments (do not hit pause!). Do not sell off everything because you’re afraid. That’s how you lose money. You make money during a correction or crash when you don’t sell, or if you continue to buy at discounted prices. To learn more, I highly suggest you check out my Investing Foundations for Canadians course. But no matter what you do, don’t panic, don’t make decisions based on fear and emotions, and continue to educate yourself about investing so you can feel confident about what you’re doing. To check out my course visit https://jessicamoorhouse.com/investingfoundations Learn more about your ad choices. Visit megaphone.fm/adchoices

Keisha and her husband at a young age were very focused on early retirement and nurturing their brand new family. At 34, Keisha and her husband welcomed a brand new baby into the world and becoming an executive was just in sight for Keisha. When their baby was eight weeks old, her husband became very ill and died suddenly.  They later came to the conclusion that he had a very rare disease. This disease was so rare that a year after her husband died, an international medical team had to get together to diagnose the disease.  This series of events shook Keisha’s world and drove her straight into writing. There she was able to share her struggles and deepest thoughts surrounding the tragic experience she went through.  In this episode we talk about her new book, Holistic Wealth: 32 Life Lessons To Help You Find Purpose, Prosperity, and Happiness. Keisha walks us through her financial journey and the types of teams she worked with, in creating a healthy financial future for her children and herself as she did not have a will or estate plan in place when her husband passed suddenly.  I am incredibly moved by the major financial moves she has made out of a tragedy she wasn’t prepared for. If you or someone you love is not prepared for a sudden passing, give them the tools to get a plan in place so everyone, including yourself, is safeguarded for the longterm.    For full episode show notes visit https://jessicamoorhouse.com/231 Learn more about your ad choices. Visit megaphone.fm/adchoices

I get asked all the time "What's a good robo-advisor?" to which I always answer "It depends on what you're looking for." You see, even though I've got my personal preferences, that doesn't mean they are right for you. Instead, know what robo-advisors are out there then do your own research and due diligence to make the right decision for you and your investment needs. That's what this episode is all about, helping you start your research. I share some of the robo-advisors available in both Canada and the U.S., and if you're Canadian I'd also suggest checking out robo-advisor comparison sites like AutoInvest and HardBacon too. Learn more about your ad choices. Visit megaphone.fm/adchoices

You’re gonna love this episode. You’re gonna feel so good after listening to it! Why? Because there’s just something about my guest, Lindsay Bryan-Podvin of , that puts you at ease. Which is probably why she’s a financial therapist. She makes you open up, get deep, and eventually get to the crux of what’s going on with your money so you can start building a solid, happy and successful financial life. In this episode, we discuss what exactly a financial therapist does (and how it differs from some other financial designations), why talking about money is one of the most important things we can all do to improve our financial situations, and how impactful our past is on our financial futures. Besides working with individuals and couples as a financial therapist, Lindsay is also the author of The Financial Anxiety Solution. If you want to grab a copy of her book, make sure to visit  to also get a free video training on values-based spending and saving. For full episode show notes visit https://jessicamoorhouse.com/230 Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you know what the Canada Deposit Insurance Corporation (CDIC) is, or why it was created? I go through the history, how it protects banking customers and their deposits, and how exactly (and how much) you’re protected. Learn more about your ad choices. Visit megaphone.fm/adchoices

A few weeks ago, I got to co-host a really special event called “A Greener Dollar” with Desjardins CEO Guy Cormier, and after that event, he sat down to do a podcast episode with me so we could dive deeper into the topic of responsible finance and investing. Something you should know about Desjardins is that they have been at the forefront of responsible investing going back 25 years with the launch of their first SocieTerra funds. Since then, they’ve built a number of responsible mutual funds and ETFs, and hope to be a leader in promoting responsible investing to the masses. As Guy mentions in the podcast, more business leaders need to step up and take more action when it comes to sustainable growth in the financial industry and in the greater economy. Although many leaders and companies are profit-first thinkers and simply focused on getting high returns, things need to shift in the investing world. There needs to be more transparency, inclusivity, and we need to protect our future. And one big way this can be done is by offering responsible investing products and having the conversation with investors. Hopefully, one day responsible investing will simply be called investing, and there won’t be so many different interpretations of what it means to be responsible fund or responsible investor. Until then, what we all can do is to be more intentional with our investing dollars and to keep the conversation going so more people are aware of their options. For full episode show notes visit https://jessicamoorhouse.com/229 Learn more about your ad choices. Visit megaphone.fm/adchoices

It's been well over 2 years since I've had well-known personal finance expert Kelley Keehn on the podcast (she was featured on episode 131 back in Nov. 2017 if you want to check that out), and she's back to chat with me about her new best-selling book Talk Money to Me. If you are looking for a new book, specifically for Canadians, about all the things you should know about money management, debt, credit and mindset, you'll definitely want to grab a copy of her book. It's not written like your typical personal finance advice book, telling you what to do and not to do. Instead, Kelley weaves in his wisdom by sharing stories and scenarios based on all of the people she's been able to talk to and help over the years in her career as a financial literacy advocate. The reason she wanted to write this book is because she wanted to write a book to open up the conversation and to just make people not only feel good about their money, but about money in general. Our pasts really do have a big impact on how we think, feel and manage our money as adults. Luckily, you can change all of that, as long as you own up to that past and become intentional with how you view and interact with money moving forward (and of course taking some of Kelley advice in her book!). For full episode show notes visit https://jessicamoorhouse.com/228 Learn more about your ad choices. Visit megaphone.fm/adchoices

For this Money Minute episode, after much listener demand, I’m going to be sharing what is Wealthsimple’s new savings/chequing account Wealthsimple Cash all about, is it safe, and how does it compare to other high-interest savings accounts offered by Motive Financial, EQ Bank and LBC Digital. FYI, Wealthsimple Cash is only available in Canada currently. Learn more about your ad choices. Visit megaphone.fm/adchoices

For this episode of the Mo’ Money Podcast, I have someone on who is making some major waves in the personal finance space – money writer, speaker and educator Amanda Holden (a.k.a. Dumpster Doggy). I’ve been following her on social media and reading her blog for a while now, but I was lucky enough to finally meet her this past fall at FinCon 2019. She has such a positive energy, it's no wonder she's been able to cultivate a community of super-engaged followers who want to empower themselves through financial literacy. Amanda has such an amazing story too of how she decided to become a financial educator. She was first introduced to the world of finance when she starting working for an investment firm in San Francisco. But after a few years helping the rich get richer, she realized that was not the path for her. So, she started living extremely frugally (hence why she has the nickname Dumpster Doggy) to save up enough money to leave her job and travel around South America. On her travels, she realized what she was meant to do with her career – build a business that focused on educating young women about finance and investing. This led her to start her blog, Dumpster Dog Blog, and her business, Invested Development. In this episode, Amanda shares some of her top investing tips, how she was able to live extremely frugally for so long (and doesn't regret it), and what #TRASHION is all about. Make sure to check out her Instagram for some constant inspiration and check out her website to find out when she'll run her next live online Invested Development course. For full episode show notes visit https://jessicamoorhouse.com/227 Learn more about your ad choices. Visit megaphone.fm/adchoices

What is RRSP season? And why is every bank, financial institution, robo-advisor and discount brokerage telling you "Quick, the deadline is looming! Don't forget to contribute to your RRSP before it's too late!" That's because March 2, 2020 is the deadline for you to contribute to your RRSP to count towards the 2019 tax year (typically it's March 1, but this year March 1 is on a Sunday). So if you are trying to figure out to reduce your taxes owing for 2019, you may want to take this opportunity to contribute to your RRSP now before the deadline to use as a tax deduction when filing your 2019 taxes. Learn more about your ad choices. Visit megaphone.fm/adchoices

You hear all the time that these YouTubers started a channel just for fun, then a few years later…BAM they’re doing it full-time and raking in the dough! Is it true or is it just hype? Wanting to get to the bottom of this, for this episode of the podcast I talk to Marko Zlatic, the YouTuber behind the popular WhiteBoard Finance channel, to find out how he was able to quit his day job in finance to run his channel full-time in just a few years. I was lucky enough to have met Marko at FinCon 2019, and I was shocked to learn later that his channel was huge! Not only that, the advice he gives in his video is actual quality, with tons of well-researched and explained videos. A rarity with all the click-bait hype channels that are really just trying to sell you something or promote some get-rich-quick dream. So, how does he do it? Putting in the work for years without seeing a dollar, creating quality videos on topics people want the answers too, and of course, there’s the X factor that just makes him stand-out and keep his viewers coming back for more. Besides chatting about his channel, we also discussed some of his tips from his top videos, such as how to not get scammed at the car dealership and how to survive the next recession. If you’re just getting into YouTube and are looking for some quality personal finance channels to follow, make sure to subscribe to WhiteBoard Finance (and why not my channel while you’re at it). For full episode show notes visit https://jessicamoorhouse.com/226 Learn more about your ad choices. Visit megaphone.fm/adchoices

If there's one thing that grinds my gears it's when people use the wrong terminology! And people, journalists, even some financial experts keep saying this and it is WRONG: "Save for retirement" Nope. You can't. You cannot save for retirement. Because saving is the act of putting cash in a savings account, keeping it liquid, and earning very little interest. So stop saving for retirement, and instead start investing for retirement. Investing is the only way to build your wealth for retirement. So stop saying "save" and start saying "invest" for retirement, because it more accurately describes the steps you need to take to get to that $1 to $3 million dollars you'll probably need to retire by 65. Learn more about your ad choices. Visit megaphone.fm/adchoices

For this episode of the podcast, I interview someone who I’ve been getting a ton of requests by listeners to be on the show…Ben Felix! Not only is he a well-respected portfolio manager at PWL Capital with more letters behind his name than anyone I know, he is also the popular YouTuber behind the Common Sense Investing channel as well as the co-host of the Rational Reminder podcast. Benjamin took a fairly unique path to the investing world. Whereas many guests I have on the show had a strong passion for personal finance early on, Ben first studied mechanical engineering before deciding to pivot and get his MBA in Finance (because it was the most difficult program offered at Carleton University’s Sprott School of Business!). While doing his MBA, he got the chance to work at an investment firm and soon realized the culture and strategies used by a traditional institution did not align with his own values and research. But before deciding to ditch the whole thing he was hired at PWL Capital, a firm with a fairly alternative approach to doing business, offering fiduciary advice and index fund portfolios to clients. Ben started his career there in 2013, and has since become a strong advocate for financial literacy and educating Canadians about how they can take control of their investments through his podcast and YouTube channel. Specifically, he likes to explain the rationale behind why indexing is such a great (and increasingly popular) investment strategy, while also sharing research on alternative investing strategies such as factor-based investing. Honestly, he is one of the few people out there who can actually explain complex ideas in a very easy to understand way. It’s no wonder he has over 80,000 YouTube subscribers and counting! As mentioned on the podcast, make sure to check out his website RationalReminder.ca and his YouTube channel. There is so much amazing content on there, you’re sure to find yourself binging episodes and videos just like I have! For full episode show notes visit https://jessicamoorhouse.com/225 Learn more about your ad choices. Visit megaphone.fm/adchoices

For this money minute, I'm going to answer to questions I get all the time. 1) Why should I have an emergency fund? 2) How much should I have in it? An emergency fund is simply cash you have in a savings account you don't touch unless there's an emergency, and the typical rule of thumb is to have 3, 6 or 9 months' worth of your living expenses (which you can find by having a budget and tracking your spending!). Learn more about your ad choices. Visit megaphone.fm/adchoices

For this episode of the Mo’ Money Podcast, I’ve got my friend Kara Perez on the show. She is the founder of Bravely Go, a feminist financial education company. Her company focuses on bringing actionable and accessible financial education to people through pop up events and an online community. Kara is also the co-host of the award-winning The Fairer Cents podcast and if that wasn’t enough she’s also a money coach! In this episode, we talk about why there is such a need to hear diverse voices in the personal finance world so we can all learn from each other, what it means to be a financial feminist, and Kara shares her tips on how to negotiate like a pro so you can level up your money (a skill I sure wish I had back in my 20s). Kara also shares her story of graduating soon after the recession with an English degree, and living on a low income for many years while struggling to pay off her debt. By taking the time to educate herself about money and being disciplined with living below her means, she was able to crush her debt and now works full-time running her own company teaching others how to empower themselves through personal finance. Although she doesn’t like to say if she can do it so can you, hopefully her story will serve as some inspiration that no matter where you’re at in life, there’s always a path to a better financial life. For full episode show notes visit https://jessicamoorhouse.com/224 Learn more about your ad choices. Visit megaphone.fm/adchoices

For another edition of Money Minute with Jessica Moorhouse (that's me), I'm going to share with you the different ways that you can check your credit scores for free in both Canada and the US. An important thing to note, in Canada we have 2 credit bureaus: TransUnion and Equifax. In the US, there are 3 bureaus: TransUnion, Equifax and Experian. No matter if you're in Canada or the US, you must check all of your scores. These bureaus are different companies, they do not share information or talk to each other, and the scores will be different.  Learn more about your ad choices. Visit megaphone.fm/adchoices