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In this episode of the Mo Money Podcast, we cover the top five investing myths that hold you back. Now, I think that everyone sort of gets it - that you know that you should be investing, or should be investing a little bit more, but there are some common myths that really slow you down or hold you back. So, we wanted to unpack what they are, how they impact you, and what you can do to overcome them. This episode is perfect for anyone that wants to invest more so that they can make more progress getting ahead. Want to make smarter money moves and get ahead faster? Upcoming events: https://www.eventbrite.com.au/o/ben-nash-pivot-wealth-34379655697 Learn more about Pivot Wealth: https://pivotwealth.com.au/ Check out Ben's book, Get Unstuck: https://www.getunstuckbook.com.au/ Check us out on socials: TikTok: https://www.tiktok.com/@bentalksmoney Instagram: https://www.instagram.com/pivotwealth/ Youtube: https://www.youtube.com/c/BenNashPivot Facebook: https://www.facebook.com/pivotwealth/ Chat about how Pivot Wealth can help with your money: https://calendly.com/pivot-new-clients/intro-chat-w-pivot-wealth Note: The advice shared on this podcast is general in nature and does not consider your individual circumstances. The podcast exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, and TMD and obtain appropriate financial advice tailored towards your needs. Ben Nash and Pivot Wealth are authorised representatives of Fish Tacos Pty Ltd, ABN 14 649 248 082, AFSL 533055
Ben is an author, Founder and Financial Advisor at Pivot Wealth. He joins Andrew to chat about starting Pivot Wealth, setting up the advice process for success, and what he's got planned for the future. Ben Nash LinkedIn: https://www.linkedin.com/in/benjaminjnash/ Pivot Wealth: https://pivotwealth.com.au/ Mo Money Podcast: https://podcasts.apple.com/au/podcast/mo-money/id1504054172 Visit The Adviser Portal and partner with Zurich and OnePath today: https://ensombl.com/go/20230718 Join the Ensombl platform: App Store: http://www.ensombl.com/apple Google Play: http://www.ensombl.com/google Desktop: https://www.ensombl.com/ General Disclaimer – https://www.ensombl.com/disclaimer/
It's fair to say that we are in tough times when it comes to the economy, affordable living and paying the bills and so it comes at a great time to chat to this weeks guest, Ben Nash from Pivot Wealth. Ben Nash is a Financial Advisers and the founder of Pivot Wealth, the Author of Replace your Salary by Investing and Get Unstuck and the host of the Mo Money Podcast. Ben is also the creator of the Smart Money Accelerator https://bit.ly/3mgI0Wt program that helps people build a second income investing faster. In Ben's content he draws on practical experience from working with thousands of people to deliver simple, tried and tested money strategies that actually work, delivered in an easy to understand way. It was great to sit down with Ben and to ask him the questions we're all talking about now and to sift through the noise that is the mainstream media, to help set out a plan to see you weather the storm and find yourself thriving on the other side. I hope you enjoy the podcast and as always, please hit that SUBSCRIBE BUTTON to make sure you never miss any future episode and please consider leaving a 5 STAR RATING and POSITIVE REVIEW as it would mean the world to me. Contact Ben Nash: TikTok Linkedin Instagram Facebook Contact with Adam Martin: Instagram: @balance_by_adam Website: www.thenobreakfastguy.com Email: info@balancebyadam.com YouTube: www.youtube.com/thenobreakfastguy
One option to escape the rental crisis is to buy your first property. Ben Nash from Pivot Wealth reveals all the government grants and savings methods you can use to make your home-owning dream a reality. Ben Nash is a Financial Adviser and the founder of Pivot Wealth, the Author of Replace your Salary by Investing and the host of the Mo Money Podcast. Ben helps people invest smarter so they can create a life not limited by money. In Ben's content he draws on practical experience from working with thousands of people to deliver simple, tried and tested money strategies that actually work, delivered in an easy to understand way. Ben runs regular live online events which you can check out here. Follow Ben here on Pivot Wealth | TikTok | Linkedin | Instagram Host: Andrew BucklowProducer: Emily PidgeonAssistant Producer: Nina YoungAudio Editor: Joshua BurtonSee omnystudio.com/listener for privacy information.
I'm pumped to be bringing you the very first episode of the Mo Money podcast, even though we've been going under the "How to be Successful with Money" banner for about 300 episodes. In this episode I talk about what this change is all about, what drove it, as well as what I've got planned for the Mo Money podcast over the next little while. I introduce the new co-host for the podcast and talk about some of the building blocks of money success. Want to make smarter money moves and get ahead faster? Upcoming events: https://www.eventbrite.com.au/o/ben-nash-pivot-wealth-34379655697 Learn more about Pivot Wealth: https://pivotwealth.com.au/ Check out Ben's book, Get Unstuck: https://www.getunstuckbook.com.au/ Check us out on socials: TikTok: https://www.tiktok.com/@bentalksmoney Instagram: https://www.instagram.com/pivotwealth/ Youtube: https://www.youtube.com/c/BenNashPivot Facebook: https://www.facebook.com/pivotwealth/ Chat about how Pivot Wealth can help with your money: https://calendly.com/pivot-new-clients/intro-chat-w-pivot-wealth Note: The advice shared on this podcast is general in nature and does not consider your individual circumstances. The podcast exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, and TMD and obtain appropriate financial advice tailored towards your needs. Ben Nash and Pivot Wealth are authorised representatives of Fish Tacos Pty Ltd, ABN 14 649 248 082, AFSL 533055`
Before I get into some details about my wonderful guest for this episode, I want to share more about what I said right at the top of the show since it’s pretty important. As of last week, I have put to rest the old name for this podcast, the Mo’ Money Podcast, and have officially changed the show’s name to the More Money Podcast. As I explained in the intro for this episode, it was very much time for this change and I feel really good about it. As you know, especially from , I am an ally of BIPOC and am a supporter of Black Lives Matter. I’ve also been putting more effort to have a more diverse guest list for the show to ensure there are more voices being heard that need to be. I want to be part of the solution, not the problem. Still, I had never really stopped to think that my podcast name may actually be part of the problem and may come off as offensive to some people until recently. To give you some background, when I first started my blog in 2011, I called it Mo' Money Mo' Houses. I was 24 when my old roommate and I came up with the name, and I thought it was a funny play on words with my last name and the song Mo' Money Mo' Problems. A few years later, I launched this podcast under the same name. When I rebranded from Mo' Money Mo' Houses to just my personal name (Jessica Moorhouse), I dropped the Mo' Houses from my podcast name so it became simply Mo' Money. Throughout the years, I've toyed with the idea of updating the name to something that had more relevance to my brand, but I kept putting it off. Until I recently stumbled upon a review on my podcast that made take action immediately. The review is still on Apple Podcasts, so I'm sure you'll be able to find it easily. In essence, they were calling me out for appropriating language from the Black community. That was never my intention and I felt terrible that that had never crossed my mind. So I did a quick poll on Instagram to see how some of my listeners felt. Although the majority didn't feel the same way, some people did. I never want to offend anyone, and I especially don't want anyone to misunderstand my values or support for the Black community. So, I changed the name. Luckily it was an easy change to the More Money Podcast, but it did remind me that I still have work to do in order to become a better ally. So thanks to everyone for supporting this name change, and supporting me! And thanks again for continuing to listen to the show. Ok, now onto the special guest for this episode, . She is a money mindset and life coach for women who I’ve been following on Instagram for a little while now. She is also the host of the popular Money Mindful podcast and book club. I find her so inspiring and her thoughts on money and mindfulness so interesting, I had to have her on the show so we could dive deeper. This is one of those episodes that's going to make you pause and think (what good timing since I've been doing a lot of that lately!), and reconsider your actions, habits, and mindset around money. Meaghan definitely got me thinking of some of the money mindset issues I still battle every day. I think I've mentioned on the show that naturally I have a scarcity mindset because of my background growing up. But I try to work through that because I find having an abundance mindset so much more liberating. I hope you enjoy this episode as much as I did and make sure to follow Meaghan on Instagram and check out her podcast that dives even deeper into this topic! For full episode show notes visit https://jessicamoorhouse.com/265
Happy New Year! And welcome back to the Mo’ Money Podcast! After taking a few weeks off to rest and recharge, I am so excited to be back to drop Season 12 of the Mo’ Money Podcast today. Not only that, I thought I’d start with an episode that will get you excited about the future again! 2020 was rough on us all, some more than others, and we’re still in the thick of it. But I’ve got hope for 2021. And when you’ve got hope, you can make plans for better days to come. That’s why I’ve got the wonderful Stephanie Myers and Gillian Batt from Our Freedom Years on the show. I’m a big fan of their YouTube channel, and not only did they achieve financial independence and retire early in their 30s/40s, but they are also Canadian! I haven’t had many Canadians FIRE people on the show, so this is a big treat. And I sure asked them all the questions I know you would have asked yourself, like what to do with taxes when you’re a nomad, how much to save, how to ensure you won’t run out of money, and does FIRE mean you don’t ever have to work again (since so many people who achieve FIRE seem to continue working?). I know you’re going to love this episode just as much as I enjoyed recording it. And don’t forget to check out the link below to sign up for their free e-course! For full episode show notes visit https://jessicamoorhouse.com/260
This episode we start with a Bachelorette commentary session which is mostly just about claiming a favorite contestant to hit up on IG. Then, we have a nice chat with The Millennial Money Expert and the host of the Mo Money Podcast, Jessica Moorhouse! She discusses how getting started with your financial plans is not as intimidating as one might think. No more scarcity mindset- just baby steps that make sense for your goals and patience...must have patience. Jessica enters the episode at 26:55. Show her some love: @jessicaimoorhouse and @MoMoneyPodcast on Instagram. jessicamoorhouse.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
The pandemic has negatively affected many businesses. According to the US Chamber of Commerce, most small businesses are concerned about financial hardship due to prolonged closures (70%) and more than half (58%) worry about having to permanently close. Jessica Moorhouse joins our host, Sarah Li-Cain, to discuss her experience with setbacks due to COVID-19. Jessica shares what her business looked like pre-COVID, how her business changed once the pandemic happened, and how she pivoted so she can continue diversifying her income. - Jessica discusses what her business was like before the pandemic - The emotions that most overwhelmed her as her streams of income dried up - How she handled the negative feedback she received by selling a course during COVID - The mindset shifts she went through to make the best of 2020 Jessica Moorhouse is a millennial money expert, Accredited Financial Counsellor Canada®, speaker, award-winning personal finance blogger and host of the Mo’ Money Podcast. Aside from being a regular guest on CTV’s Mind the Gap, she is also frequently featured in major publications like The Globe and Mail, BNN Bloomberg, CBC News, Yahoo Finance, and MarketWatch. Jessica is also the founder of the Millennial Money Meetup®, a financial literacy event for young adults in Canada.
Does the word “money” make you sweat just a little? Yeah, me too! So today we dive into this realm of personal care by talking about our personal finances and looking at money in a whole new way. From savings, to optimizing our money and how we can use rewards programs like PC Optimum work in our favour! Asking hard questions, and getting tangible, easy to digest answers is what this episode is all about! You can follow Jessica @Jessicaimoorhouse on IG, listen to her podcast “Mo’ Money Podcast with Jessica Moorhouse” or visit her website at www.jessicamoorhouse.com Visit www.PcFinancial.ca/Papaya to learn more about the new PC Money Account we discussed today! *This Episode Is Sponsored by PC Financial*
Today I have Jessica Moorhouse on the show, who is an Accredited Financial Counsellor, an award-winning blogger, the host of the ‘Mo Money Podcast, and the founder of the Millennial Money Meetup. You might have also seen her on CBC News, The Globe and Mail, The Financial Post, and many other news channels and publications here in Canada. In today's episode, you'll learn the highest impact actions that we Canadians can do to really make a dent in increasing our savings. We cover how to best manage your money and day-to-day cashflows, and the different types of tools and systems that you can use to help you manage your finances. We also talk about investments, and how Jessica actually invests her own money. Last but not least, I consider Jessica to also be a very successful entrepreneur, and so if you are considering starting your own business, or are looking for ways to take your existing business to the next level, we talk about how Jessica was able to grow her company so successfully, and what lessons we can learn from her, to propel our own Canadian businesses to the next level. Resources and Links Mentioned: Check out Jessica's site and valuable resources over at: Jessicamoorhouse.com Get Free Tickets to the Canadian Financial Summit The top personal finance and investing tools guide mentioned on the episode can be received for free by signing up on the main page over at buildwealthcanada.ca. The how to invest videos mentioned during the show can be found at buildwealthcanada.ca/invest. That's also where I can answer your investing questions. You can get your financial planning questions answered for free for 30 minutes by speaking with our resident financial planner John Kalos. You can get your mortgage questions answered for free by setting up a free call with our resident mortgage broker, Sean Cooper. Canada's Top ETFs Guide & Top High-Interest Savings Account: In this guide, I go over what I personally invest in, why I invest in it. The investments that I talk about are literally where we have almost our entire net worth (apart from our house), and is what we are primarily living off right now in our early retirement. At the very least you'll learn about some great ETFs to consider for your portfolio, and if you are new to ETFs, it'll give you a nice list of some top ETFs to consider from the thousands that are out there. The guide is available for free to any listeners that that use my special link to sign up for a free savings account with the bank that I personally use, EQ bank. The reason that I personally use EQ bank, is that they have one of the highest interest savings accounts in Canada. At the time of this writing, they are anywhere from double, to over 30 times higher than most of the banks in Canada. It's also free to sign up and keep an account with them, so you're not paying a monthly fee like you do with many of the other banks out there. You also get unlimited transactions, unlimited Interac e-transfers, and can take out your money at any time if you need it, and there are no minimum balances. Because of those reasons, I've been with them ever since they launched in Canada years ago, and it's where I keep my entire emergency fund and spending money. To get the free high-interest account and the free guide on the top ETFs in Canada, just go to buildwealthcanada.ca/eq, open the free account, and once you're done, forward any email that you get from EQ to bonus@buildwealthcanada.ca and I'll send you the full comprehensive guide for free. Questions Covered: As an Accredited Financial Counsellor, I'm sure you deal with many Canadians that are either struggling financially or would like to really amplify their savings so they can invest more, and eventually retire early.What would you say are the highest impact actions that us Canadians can do to really make a dent in increasing our savings, whether it's to pay off debt, save to buy a home, or have more to invest for retirement? When it comes to financial management and managing your day-to-day cash flows, what sort of system or process do you personally have in place and use? Is that a good starting point for those that are looking to gain more control over their finances? Or is there something simpler you recommend for those just getting started? We all know that we should get our finances in order, optimize our investments and manage our money carefully, but we're all busy and it's easy for things to slip through the cracks.When it comes to staying organized in your personal life, finances and business, are there any tools, systems and workflows that you depend on and that work really great for you? How do you personally invest your money and what's your thought process behind that decision? (ie. Robo vs asset allocation ETF vs individual ETFs vs something else?) I notice you've done a fair bit of work and teaching with students. Student debt is a big concern for many so when someone is debating between paying off student debt vs saving for a home vs investing in their TFSA or RRSP, what's your stance and thought process on how they should decide which to focus on? (let's do this from a qualitative and quantitative angle) I definitely see you as a successful entrepreneur, so let's shift gears a bit and talk about your life as an entrepreneur, for anybody that wants to eventually work for themselves like you, or have a side-hustle to generate some extra income. As an entrepreneur, I find it's really easy to take on too much and get burnt out. Reading your blog, I noticed you've run into this issue too. Do you have a daily routine that works well for you to balance business with personal time so that you don't burn out? As a successful entrepreneur, I noticed that you work with a lot of big brands in your business. For somebody looking to start or grow their existing business, how do you personally approach such companies and close these deals?It's obviously easier to do this once you're established, so would your strategy change if someone is just starting out vs already having an established business? When it comes to partnering with the different companies/brands how do you determine what to charge them and what to offer them? You are in a lot of different channels and seem to have a pretty wide array of revenue streams for your business. What channels or projects have you found to be the best return on your time invested? How do you prioritize which projects/opportunities to work on? Thanks for coming on the show and where can listeners learn more from you? Don't miss future episodes, giveaways, and free in-depth guides by signing up for free to the Build Wealth Canada Newsletter
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 POC 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 POC 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
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
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
http://www.alainguillot.com/jessica-moorhouse-2/ I have a confession. Ever since I have been following Jessica Moorhouse, host of Mo’ Money Podcast. I have had a lot of admiration for her work, but also a little bit of jalousie. After I asked her about how much work she does, I realized that I don't want to work as much as her. My admiration is even stronger, and my jalousie is no longer there. Jessica opens up the kimono and reveals, in detail, how she makes money from blogging, podcasting, YouTube videos, Speaking, consulting, and selling her products and services. I spoke to Jessica a year ago, on episode #31 in July 2018 and this was a great opportunity to catch up with her work.
Can you believe it’s been 4 years since I had tax expert Gerry Vittoratos on the show? That’s right, he was the guest for episode 44 of the Mo’ Money Podcast, so I think that means he’s one of my OG guests! Well, it’s a new season and new decade, and it’s also tax season so I thought I’d bring him back on the show to talk about taxes. In case you don’t know Gerry, he really knows his stuff when it comes to taxes. He’s 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. He has also served as the main resource person for the tax support department of Thomson Reuters, resolving complex tax issues and questions for tax professionals using the DT Professional Suite. Lastly, Gerry obtained his Graduate Diploma (Gdip) in Taxation from Sherbrooke University in 2018, and is in the process of obtaining a Masters of Taxation! 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. Here’s how that would look for your 2019 taxes: 15% on your first $47,630 of taxable income 20.5% on your next $47,629 of taxable income (on any taxable income over 47,630 up to $95,259) 26% on your next $52,408 of taxable income (on any taxable income over $95,259 up to $147,667) 29% on your next $62,704 of taxable income (on any taxable income over 147,667 up to $210,371) 33% on your taxable income over $210,371 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 your 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, here’s UFile’s Income Tax Calculator. Refundable & Non-Refundable Tax Credits There are a ton of tax credit available that you can take advantage of, but it’s important to know the difference between those that are refundable and those that aren’t. 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. In other words, 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. Tax Credits, Deductions & Business Expenses to Be Aware Of 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 quality for. Otherwise, check out this list of deductions, credits and business expenses by the CRA that you may be able to help reduce how much you pay in taxes. Taxes on Investment Income 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. Here’s how that all works: 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. More Tax Resources As Gerry mentioned on the podcast, make sure to check out these other tax resources that will help you this tax season. Income tax calculator UFile’s tax blog CRA’s personal income tax hub Save 15% When Filing Your Taxes If you want to get your taxes done by using UFile, make sure to use promo code MOMONEY to get a special 15% off! For full episode show notes visit https://jessicamoorhouse.com/233
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
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
Welcome to my new weekly series on the Mo' Money Podcast called "Money Minute with Jessica Moorhouse"! I love doing interviews for this show, but sometimes I just want to talk to you directly and share some tips or pieces of wisdom that I think could help you on your personal finance journey...all in just a few minutes per episode. This first episode is me sharing 5 different banks that offer no-fee chequing accounts in both Canada and the US. If you're paying monthly bank fees, I challenge you to calculate how much you're spending on bank fees in a year. You may be surprised! Just think of what you could do with that money instead if you switched to a no-fee bank.
I can’t believe we’re already celebrating Season 10 of the Mo’ Money Podcast, which is why to kick off this new season I wanted to share a special episode that will hopefully inspire and motivate you to take a good look at your spending and see how you can save some money with minimal effort. The perfect guest to talk about this with me is Gordon Stein, author of Cashflow Cookbook. In his book he shares 60 different ways you can save between $25 and $900 per month! If you add all of those ways up, you could save $13,000 per month total! You know the old adage “A penny saved is a penny earned”? Well, it’s true! If you can find a way to cut down on costs or save money on things you’re already spending money on, that means there’s more money leftover for you to put towards your emergency fund, a future vacation, or your retirement investments. And what’s great about Gordon’s book and the tips he shares in this episode is they are all fairly simple to implement and don’t require you to live like one of those people featured on TLC’s show “Extreme Cheapskates”. Because at the end of the day, you probably don’t want to live like an extreme cheapskate, and I sure don’t either. That kind of life, in my opinion, isn’t sustainable for the long-term. But the tips that Gordon shares are, and can save you a ton of money over the course of years and decades. Also, don’t forget, I’m giving away a copy of his book! To enter to win you just have to visit jessicamoorhouse.com/contests. For full episode show notes, visit https://jessicamoorhouse.com/222
I can’t believe we’re already here but this is the last episode of 2019 and Season 9 of the Mo’ Money Podcast! And what better way to end it than with an episode all about value investing with New York Times bestselling author Danielle Town. Although I’ve done a ton of episodes on the podcast on investing, if you’re a long-time listener then you may have found that most of the guests I have on the show tend to say pretty much the same things: keep fees low, diversify and invest in low-cost index funds or index ETFs. Not Danielle! As a value investor following the path of Warren Buffet and Charlie Munger, she has an altogether different strategy for reaching financial indepence. Instead of buying investment products that replicate a broad market index, she believes in investing in just a few stocks strategically, buying low, holding on to them, then eventually selling them when they are priced high to earn a nice profit. There’s obviously quite a bit to know about value investing, and in my opinion, it is an advanced investment strategy that is not easily carried out. That being said, I find it incredibly fascinating and an important strategy to understand when learning about different ways to invest your money. I’m still a huge fan of indexing, but I’m not gonna lie, I’m definitely going to look more into doing some value investing for a small portion of my overall investment portfolio and see how things go. And luckily Danielle’s book breaks the strategy down in a very easy to understand way. For full episode show notes visit https://jessicamoorhouse.com/221
Is couponing still as easy to save money doing as it used to be when people would go shopping with their big coupon binders à la Extreme Couponing? Yup, and honestly couponing is so much easier now than it used to be. That’s what Joanie Demer, co-founder of The Krazy Coupon Lady, explains in this episode of the Mo’ Money Podcast. Because so much has changed in the couponing world, if you really want to save on everyday purchases, you’ve got to learn about the new rules (and chuck out the old ones). Since we’re now living in a very digital world, that’s where you’d start. Sure, you can still get paper coupons and get some savings, but the time and effort may not be worth it. Instead, using apps and browser extensions at check out may be a better way to save money because, well, they take no time and little effort on your part. As mentioned in this episode, here are some ways to get started saving money through coupons and promo codes online: Honey Shopgatr Rakuten The Krazy Coupon Lady Ibotta SnipSnap Visit jessicamoorhouse.com/contests to enter to win a copy of a book featured on Season 9 of the podcast! For full episode show notes visit https://jessicamoorhouse.com/211
I'm back! After taking some time off this summer, I am so excited to be back with Season 9 of the Mo' Money Podcast! With 4 years under my belt, I can't believe how much this podcast has evolved...and grown. Over the summer I crossed the 1 million download threshold, and currently I'm at 1.1 million total downloads! That's a ton of amazing people like you listening to the show, how crazy is that!? To kick off season 9 of the podcast, I thought this would be the perfect episode. One thing I hear often from listeners is "I want to work with a financial planner, but who can I trust or how can I find a good one?" If you've listened to several episodes of my show, I am not a fan of going to the bank and working with their advisors because they ARE NOT giving you unbiased advice. They work for the bank, and no matter how they are compensated (salary, commission, both), they are incentivized to sell their bank's financial products first, and advice second. That's why I'm such a big fan of fee-only financial planners. Although you do have to pay money upfront to work with them, and sometimes they can be expensive, they are UNBIASED because they do not work for a financial institution. They are being paid to advise you, and they shouldn't be pushing any particular financial products on you, nor should they be able to sell you anything besides their services. So, I knew the perfect guest for this episode, my friend Matthew Siwiec, founder of the Friendly Financial Coach. He just finished his CFP exam (which is no easy feat) but has been in the financial advisory industry for over a decade and now works as a fee-only financial planner. More Info About Financial Designations in Canada Financial designations explained by the Investment Funds Institute of Canada Understanding financial certifications by IIROC Financial designations explained by Advocis Financial designations explained by Canadian Securities Institute Info About Becoming a Financial Planner Path to become a Qualified Associate Financial Planner (QAFP) Path to become a Certified Financial Planner (CFP) Path to become a Personal Financial Planner (PFP) Info About Becoming a Financial Counsellor Path to become an Accredited Financial Counsellor Canada (AFCC) Follow Matthew Siwiec FFCoach.ca Simple Money Podcast Twitter: @F_FCoach Facebook: Friendly Financial Coach For for full episode show notes visit https://jessicamoorhouse.com/205
On today's episode we're talking about that money, honey! How to save in an increasingly expensive world, how to invest your money and where, and how to plan accordingly for tax season. All this and more with millennial money expert, speaker, award winning blogger, and host of the Mo Money Podcast and founder of Millennial Money Meetup, Jessica Moorhouse. This Truly Is... Money management 101 for millennials.
For my final episode of Season 8 of the Mo’ Money Podcast, I’ve got a solo episode for you, and it’s all about answering your investing questions. I get investing questions all the time at events I organize or speak at, via email or even through social media. So, since I just did my Level Up Your Moneyevent with Erin Lowry which included a Q&A (but wasn’t part of the recording we did), I thought I would do an episode focused solely on answering all your most pressing investing questions. Now, as a disclaimer, nothing in this episode should be considered financial or investing advice. Heck, nothing on this website or any content I create should be considered advice. It is simple information, facts and opinion. And when it comes to investing specifically, it’s hard to even give a straight answer. You may have noticed that in the panel discussion recording, and some attendees voiced their frustration. I totally get it, but unfortunately, there’s no such thing as one-size-fits-all investment advice or recommendations. We’re all at different stages in our lives, with different incomes, circumstances, goals and time horizons. It would be ridiculous to say “Do this and you’ll be fine.” And if someone does tell you that, remember, even if they are an investment advisor, that is their opinion on what they think you should do. Nothing is guaranteed when it comes to investing, and it’s not black and white. Paying Down Debt. vs. Investing: Which One Should You Do First? If you’ve got consumer debt (credit cards, line of credit, etc.), focus on paying that all off before investing because it’s unlikely you’ll be able to earn the same or higher interest on your investments that those debts are charging you. If you have student loans or other low-interest debt like a car loan or mortgage, I would say pay down debt and invest. The interest you’re paying is most likely below 5%, and 5% or higher is a very possible return you could make on your investments. Also, no matter what type of debt you have, make sure you have a fully funded Emergency Fund before you start investing. How Do You Know When You’re Ready to Start Investing? You’ve got to have that solid financial foundation first before you start investing. That means you have a budget, you’re tracking your spending and net worth regularly, you have a debt-repayment plan, you have a fully funded emergency fund, and have outlined all of your financial goals (short and long-term) first. How Much Money Do You Need to Start Investing? There’s no perfect number, but I say once you’ve got your financial foundation set, then work on saving up $1,000 as your initial contribution to your investment plan. I say $1,000 because most robo-advisors actually require that as a minimum initial contribution, and some discount brokerages have similar requirements. Is Wealthsimple a Good Robo-Advisor? I get this question a lot, and what I think the real question is is “What’s a good robo-advisor” or “What robo-advisor should I invest with?” Here’s the thing, I do personally like Wealthsimple. I invest with them and have for about 3 years and I like their platform, customer service, and have had an overall good experience with them. But I also invest with Justwealth, and similarly I have had an overall good experience with them too. Heck, I even invest with RBC InvestEase (though a very tiny portfolio with them since I mainly wanted to test them out since I worked with them on a campaign), and I actually really like their platform and customer service to. The reason so many people think of Wealthsimple first is because they are one of the biggest robo-advisors in Canada, they were one of the first, and they also hands-down do the most marketing. And let’s be honest, their branding is amazing. It’s millennial-focused, it’s beautiful and as someone who used to work in marketing, they are doing everything right. But, just because I choose to invest with Wealthsimple, or Justwealth, or RBC Investease, doesn’t mean you should. It’s not that easy. You need to do the work to see which one makes sense for you. You need to do your research on each company, the portfolios they offer, the fees they charge, the ease-of-use of their platforms, the quality of their customer service, to see which place makes the most sense to invest with. That’s what I did, and that’s what you as a responsible and smart investor need to do to. Where to start is by checking out my recommendations page that includes the full list of robo-advisors in Canada, plus two comparison sites that can help you see the difference between all of them (Hardbacon and Autoinvest). Real Estate Investing: What Do You Think? The home you live in is not an investment. It’s part of your net worth, but I wouldn’t consider it a real estate investment because you are living in it. This may be a controversial take, but that’s just my point of you. If you own real estate and rent it out, then yes that would be considered an investment. Now, if you are investing in real estate, you need to determine what portion of your overall investment portfolio is it? Typically, real estate is considered an “alternative investment”, because the traditional investment asset classes are cash, stocks and bonds. So, if real estate is an alternative, most investment experts suggest not to invest more than 5-10% of your portfolio in alternatives. All I want to really say is that if you choose to invest in real estate, don’t just invest in real estate. Invest in those traditional asset classes, invest in the stock market, make sure your portfolio is diversified. In other words, never put all of your eggs in one basket. If I Have a Work Pension, Do I Still Need to Invest on My Own for Retirement? Short answer, of course you do. Even though you have a pension, most likely it won’t be enough, in addition to getting your CPP and OAS payments, to cover your retirement income. To learn more about pensions, I highly suggest listening to episode 180 since it goes in-depth about retirement planning and pensions. How Much Do I Need to Save Up for Retirement? One million? Two million? Most people just want a straight up answer but it’s not as simple as that. First, you need to define what your retirement looks like, and then determine how much that will cost in today’s dollars on an annual basis. Then figure out how long you’ll most likely live in retirement. Then make the calculations that include an average inflation rate. Bam, you’ll get a number. The calculation itself is fairly simple, however that doesn’t mean that’s the exact amount of money you’ll need because it’s difficult to predict the future and your future needs. That’s why you need to constantly look at your financial plan and retirement plan every year and adjust when appropriate. I’d also like to recommend to amazing books on retirement income planning: Victory Lap Retirement by Mike Drak, Rob Morrison & Jonathan Chevreau Your Retirement Income Blueprint by Daryl Diamond Should I Participate in My Employer’s RRSP Program? If they match dollar-for-dollar to your contributions then yes. Even if they have you invested in high-fee actively-managed mutual funds, it’s still worth it because it’s free money from your employer. I Want to Start DIY Investing, How Do I Build My Portfolio? Quick answer, you can either look at model portfolios other investors or bloggers share (but please do your due diligence first), you can build your own by finding ETFs that match the benchmarks you want to replicate, or you can take a look at the portfolios offered by robo-advisors and just replicate their portfolios yourself. How Are My Investments Protected? Your investments aren’t protected through CDIC or when there are ups and downs in the market, but if you’re more concerned about your robo-advisor, investment firm or discount brokerage become insolvent and you losing your investments, you are protected under the Canadian Investor Protection Fund (CIPF). What’s the Difference Between Index Funds & Index-Based ETFs? I share way more about this in my investing course, but basically they are two different investment products. Index funds are a type of mutual funds that track the broad market index, and index-based ETFs are more similar to a stock but they also track the movements of the broad market index. So they are similar, but not the same. Also ETFs are typically cheaper. Should I Invest the Money I’m Saving for a Down-Payment on a House? In general, no. You should keep it liquid in cash if you plan on buying a place in the near future (so stash it in a high-interest savings account). But, if you do want to invest, invest in something conservative like GICs or a balanced portfolio with a good portion invested in fixed income. For full episode show notes visit https://jessicamoorhouse.com/204
For anyone interested in startups or starting their own business (no matter how big or small), I’ve got an episode for you! For this episode of the Mo’ Money Podcast, I’m joined by Maria Aspan, the editor-at-large of Inc. Magazine and the author of the new book Startup Money Made Easy. Maria has a unique perspective on entrepreneurship because she isn’t sharing her own entrepreneurial journey. She’s sharing what she’s learned by interviewing hundreds of entrepreneurs about their journeys. And what’s really interesting is they all have very different journeys. Sure, they are some similarities and patterns, but in general no story is alike. That’s why there can never be a one-size-fits-all guide to entrepreneurial success. What may skyrocket one person’s business may be the downfall for someone else. In her book, she dives deep about the financial aspects of starting a business, and here are some key things she shared in this episode. Never Invest More Than You’re Willing to Lose You hear stories all the time about how someone racked up a bunch of debt to get their business started…and it paid off big time and they’re now a millionaire! You don’t often hear the stories of all the people who racked up a bunch of debt and had a business that flopped. We hear a lot of success stories, and maybe not enough failure stories. When it comes to starting a business and finding that initial financing, use the same logic as investing your money for a big goal like retirement – never invest more than you’re willing to lose. Make Mistakes Is Inevitable, Make Sure to Learn from Them Maria mentioned that Serena Williams, famous tennis player and entrepreneur, once said that in business everyone makes mistakes. What you need to be prepared for is being open to learning from those mistakes. Usually when we make mistakes, we want to brush them under the rug, not talk about them, just move forward and forget about it. But mistakes are amazing learning tools! I’ve learned amazing things from my mistakes and failures! It’s not easy. It will definitely bruise your ego a bit. But you need to remember that success is a long-game. If you want to eventually reach your goals, you need to learn from each one of your mistakes and change your behaviours and actions accordingly. Don’t Jump In, Make a Business Plan I see so many people out there get caught up in the idea that they can start a blog, start posting on Instagram, sell an online course, make a fashion line, etc… and start making money right away. That’s no reality. The people who are telling you that you can make money blogging, Instagramming, selling courses, or selling your own clothing designs, they may have neglected to tell you that there’s no such thing as an overnight success. It takes time, hard work, and most importantly a solid plan! Don’t ever think you can just quit your day job and figure it out. Figure it out while still working your day job. Start learning what you don’t know about running a business, and make a business plan you feel good about. For full episode show notes visit https://jessicamoorhouse.com/193
If you’re a long-time listener of the Mo’ Money Podcast, you’ll remember when I had Robin Taub on for episode 32 to talk about her book A Parent’s Guide to Raising Money Smart Kids. Well, that was a few years ago now so I thought it was time to have her back on the show, but to talk about something very different. As I mentioned at the beginning of the show, we bumped into each other at Melissa Leong’s book launch for Happy Go Money and started talking about the different ways both genders think, talk and manage money. It’s a subject that Robin has been researching quite a bit lately, and one that I thought would make for a great conversation on the podcast since gender roles is a fairly hot topic right. As humans, we all deal with money differently from one another. As the saying goes, personal finance is personal so there’s really no such thing as a one-size-fits-all financial solution. But, not only do we deal with money different as individuals, there’s a lot of research to indicate striking differences between how men and women handle money. Here’s one of the studies that Robin mentions in the podcast by CPA Canada: The impact of personality traits: a fresh look at gender differences in financial literacy What much of the research shows is that women tend to be more risk averse or risk conscious, we struggle with financial confidence, and we tend to be better investors than men. We chat about all this and more in the episode, so enjoy! For full episode show notes visit https://jessicamoorhouse.com/191
I’ve got another repeat guest on the show, who first appeared on the Mo’ Money Podcast this time last year in episode 151 to promote her first book Worry-Free Money. I’m talking about the lovely Shannon Lee Simmons, and she’s back with her second book all about debt called Living Debt-Free. Since her first book was essentially the feel-good personal finance book we were all looking for, Shannon’s second book does the same thing for debt. There are so many negative emotions surrounding debt, such as shame and guilt. Debt is bad right? Well, guess what…real people have debt. And they shouldn’t feel shame or guilt for having it. Shame and guilt aren’t exactly motivators to doing anything, so why would we think making people feel bad about their debt will help them get out of it. Having a Positive Mindset for Debt Repayment Is Key Instead, Shannon shares stories and advice on how to tackle your debt by adopting a new positive mindset and asking yourself some of these helpful questions: What is your debt holding you back from in life? What kind of life could you have without this debt? What’s really important to you? What are your core life values? Having clear answers for these questions will help you stay on track to paying off your debt. Yes, strategies like the debt snowball and debt avalanche are helpful too, but from my experience and Shannon’s, people are more likely to get back into debt or stop their debt repayment plan because they lack positive reinforcement and motivation. By thinking with a more positive mindset, such as “What could I add to my life once I’m debt-free?” instead of being critical of your current situation like “You’re not as well off as your peers because of your debt,” you’ll be able to change your financial picture quicker than you ever thought possible. Not only that, you’ll be able to stay out of debt because you’ll have a clearer vision for your overall finances. Emergency Funds Are for Emergencies Recently, there was a question that popped up in my Facebook group asking whether it was a good idea to use Emergency Fund money to pay off debt. Shannon and I both agreed that Emergency Funds should be reserved for emergencies only, not debt. Lack of emergency savings is one of the main reasons people fall into debt. Something unexpected happens, like their car breaks down, they don’t have the money to pay for it, they use credit to fix their car, now their in debt and can only afford the minimum payments. To avoid this cycle, save up 3 to 6 months of your living expenses and put it in a high-interest savings account. Then don’t touch it until a real emergency happens. And once you touch it, make sure to pay that money back so it’s never empty. Shannon also suggest having two Emergency Funds. One is for real emergencies that you don’t touch unless you absolutely need to. One is more of a slush fund that you are constantly contributing to, but dipping into when you need cash for unexpected expenses (that don’t fall into the emergency category). The Only Way to Avoid Over-Spending with Your Credit Card There are only a few ways to avoid over-spending with your credit card. One way is to use debit or cash for all of your variable expenses, and just link your credit card to any of your regular fixed expenses like your cable bill, phone bill, and utilities. Or, if you do like to use your credit card for your variable spending, set its limit to the exact amount you’ve budget for variable expenses. Then, as soon as you make a purchase with your credit card, move money from your chequing account to pay off your credit card. That’s it! There really isn’t any other magic way to do it. Believe me, I’ve tried them and so has Shannon and these are the ones that work! For full episode show notes, visit https://jessicamoorhouse.com/184
Since it’s launch week for Season 8 of the Mo’ Money Podcast, I’ve got a bonus episode for you! Last season, CoPower sponsored my podcast. So, I thought it would be fun to bring on Trish Nixon, Managing Director & Head of Capital of CoPower, to discuss impact investing with me. You may or may not have heard about impact investing before, but that could be because it goes by so many different names: socially responsible investing, green investing, sustainable investing, ethical investing (you get the picture). No matter what the name, what this episode is about is being a more mindful and conscious investor. You see, with every dollar you invest you are saying you want the companies you’re investing in to become more profitable and successful. There’s nothing wrong with that…unless the companies you’re investing in aren’t actually very ethical or don’t align with your personal values. That’s why we need to be more aware of what companies are in our mutual funds or ETFs. We need to see if there’s something we don’t like, then do something about it. One thing you can do is negative screening. It’s basically a way to take out the worst offenders in your portfolio, or find a portfolio that doesn’t include them. This is obviously easier if you’re a DIY investor because you have more control with what companies you invest in, but as you’ll see below there are a ton of big banks and robo-advisors that are offering more SRI portfolios now too. Socially Responsible Investment Products To give you a better sense of what kind of socially responsible investments exist, here’s a quick list of model portfolios and investment products that are considered SRI. Green Bonds – CoPower Equity Index Funds for the Socially Responsible – Canadian Couch Potato Organic Couch Potato Model Portfolio – Sustainable Economist Fossil Fuel Free Model Portfolio – Sustainable Economist Easy as Pie Model Portfolio – Sustainable Economist Vanguard Cheap AF ESG Model Portfolio – Sustainable Economist Socially Responsible Portfolio – ModernAdvisor Socially Responsible Portfolio – Wealthsimple Socially Responsible Mutual Funds & ETFs – RBC Global Asset Management Socially Responsible ETFs – BlackRock For full episode show notes, visit https://jessicamoorhouse.com/182
Welcome to Season 8 of the Mo’ Money Podcast y’all! I know, I know…where have I been? For the past 3 years I’ve always started a new season of the show the first week of January. Well, to tell you the truth, I only had this episode recorded before I took off to Vancouver to enjoy Christmas with my family. In other words, I wasn’t ready! And I didn’t just want to put a season together quick, I wanted to make sure this season is one of my best yet! I believe it is, starting with having the amazing Melissa Leong on the show for my first episode. You probably are already familiar with Melissa. She was my favourite financial journalist at the Financial Post for years, then transitioned into an entrepreneur herself as a speaker, host, TV personality on The Social and now personal finance author with her new book Happy Go Money. This book has been a decade in the works because although Melissa shares some great advice and research in it, it is also very personal. What inspired this book was her husband’s depression that got her exploring the world of happiness. I think it’s no surprise that we’re dealing with a major happiness problem today. So many of us (myself included) are dealing with depression, anxiety and feelings of failure and unfulfillment. But that doesn’t mean we should just throw our hands up and give in. We need to get our happy back! Especially when it comes to our money. Here are some of my favourite gems from this episode. Give Me 3 One of my favourite parts of the podcast was when Melissa shares her tip for keeping accountable when trying to focus on the positive, instead of complain about the negative. I find I get especially down during the winter months, so I’m going to practice this whenever I, or my husband, catch myself complaining for no real reason. How does it work? If you find yourself or someone you know focusing on the negative, say “Give me 3!” and share 3 good things about your life, your day, or whatever you want! Focusing on the positive takes practice, so start practicing with me today! No More Victimhood I find this a lot with people who I deem “negative”. You know who I mean. Those people that no matter what, everything is always the worst and nothing is ever their fault. Life just happens to them, and they sure are unlucky. Umm…no! The only way to change your life for the better is to stop acting like a victim. You need to take control of your life, your circumstances and your future. The only way to do that is to stop being a victim, take responsibility, and then take action! Meditation Can Be as Effective as Medication This is 100% true, and not just because it’s a claim backed by research. I know so many people who swear that meditation has been the fix they’ve been looking for. I myself have even experimented with it, and when I do it regularly, I do find myself so much more happy with my present. There are some great apps you can use to get started too like Calm and Headspace, or you can simply practice on your own. But try it out and see if you start to feel a change. Books to Read If you want to continue learning about happiness, money or both, here are some book recommendations mentioned in this episode: Happy Go Money by Melissa Leong 10% Happier by Dan Harris Hardwiring Happiness by Rick Hanson For full episode show notes, visit https://jessicamoorhouse.com/181
Jessica Moorhouse is a millennial money expert, host of the Mo’ Money Podcast, and the founder of Millennial Money Meetup, a financial literacy event for young Canadian adults. She is an Accredited Financial Counselor Canada®, a public speaker, an award-winning finance blogger and appears as a regular guest on CTV’s Mind the Gap. Additionally, she is frequently featured in publications such as the Huffington Post, The Globe and Mail, Yahoo Finance, and Metro News. Jessica joins me today to share how she helps people in financial debt to build their financial confidence and improve their money mindfulness. She explains what Money Mindfulness is and highlights the six steps of her Money Mindfulness Challenge. She also shares her experiences of tracking finances and adjusting her spending habits and explains how many millennials are following a new trend of shopping minimalism. “Once you educate yourself, you arm yourself with that knowledge. You also then get rid of this crazy anxiety and fear that so many people feel.” - Jessica Moorhouse This Week on Young Money: Her journey into financial literacy advocacy. How she helps people work through financial debt and build financial confidence through advocacy and personal finance counseling. What is money mindfulness and why is it important for people to track their money and introduce new financial spending habits. How millennials are moving away from the idea of consumerism and moving towards a trend of minimalism, shopping detox, and owning only the things that they need or love. The six steps of the Money Mindfulness Challenge. How to gain financial clarity by calculating your net worth. What it’s like to take the Money Mindfulness Challenge and the changes you will feel in your life. Tips for making money mindfulness a habit in your life. How Jessica’s new course “Investing Foundations for Canadians” helps you easily understand how to start investing. The 6 Steps of the Money Mindfulness Challenge: Make a plan for your finances - consistently track your spending and your net worth. Look at your spending to find your problem areas. Get a post-it and write down the top three things that you overspend on. Delete any investment apps on your phone. Check your credit score. Join Jessica’s Facebook group. Resources Mentioned: EP012 The Financial Cost of Comparisonitis with Rachel Brownlow Lund Connect with Jessica Moorhouse: JessicaMoorhouse.com Millennial Money Meetup Mo’ Money Podcast Jessica Moorhouse on Facebook Jessica Moorhouse on Instagram Jessica Moorhouse on Twitter Jessica Moorhouse on YouTube Jessica Moorhouse on Pinterest Jessica Moorhouse on LinkedIn Rate, Share & Inspire Other Young Millionaires-in-the-Making Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Visit our website to learn how easy it is to leave a review on iTunes. Don’t forget to share your favorite episodes on social media! Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.
Well, we’re almost at the end of another podcast season! Just like last year, for my second to last episode I wanted to do a special solo episode. I wanted to just chat one-on-one with you about some of the things I’ve been up to and have realized this year. Then, I wanted share some of the biggest money takeaways from both Season 6 and 7 of the Mo’ Money Podcast. My Personal Realizations from 2018 Let’s first start with some of my personal realizations this year. This year has been truly amazing. I’ll do a longer blog post closer to the end of the year really reflecting on all that happened, but two keys things I’ve realized this year: my mission/purpose is to help others, and the only way to do that is to talk to real people like you (meaning, don’t get stuck in my little personal finance bubble). Going back to when I was a missionary in Africa at 18 (you can learn more in Ep. 20), I’ve been looking for a way to have a career that isn’t just personally meaningful, but also impactful on other people’s lives in a positive way. In short, I’ve felt for a very long time that I’ve been put on this Earth to help people. When I was in my 20s, I thought maybe the way to do that was to become a filmmaker and make documentaries that educated others, or films that lifted people’s spirits. Then, real life happened and I just needed a job to earn a living. My dream of having a job that helped others went by the wayside, until I got the idea to start my personal finance blog. Even though it was just a hobby at the time, I finally felt like I had a creative outlet and a means to help others by sharing my own personal finance journey. It’s crazy to think that by starting my blog over 7 years ago, I would eventually end up running my own business and helping others with their personal finances full-time. Life is unpredictable, but for the first time since I became self-employed (almost 2 years now), I finally feel like I’ve been able to accomplish that big goal of having a job that helps others too. And honestly the big reason I feel like that is this year I’ve had more opportunities to talk to real people. Sometimes they are people like you who listen to my podcast, read my blog, watch my videos, or follow me on social media. Sometimes they have no idea who I am, but I meet them at events or through friends and we strike up a conversation about money. It is seriously so cool to be able to find out what people do with their money, and what they struggle with. For years I was pretty much in this echo-chamber of just talking with other personal finance content creators or reading articles by finance journalists. That’s not real life. The only way to understand how to help people with their money is to talk to them. It’s been an education, but it’s definitely been helpful in me having a better sense of direction in terms of what I can do in the future to spread the word and help even more people. 8 Money Takeaways from 2018 I’ve interviewed 41 people on the podcast this year. That’s almost one person per week! I’ve loved every single interview, but there are a 8 interviews in particular that stuck out to me because of the tips and takeaways they shared. [Ep. 139] Perez Hilton – Hustle Hard to Make More Money I’m a huge fan of Perez Hilton (I’ve been reading his blog for a decade), so it was seriously such a thrill to interview him on my show. And he did not disappoint as a guest. He was very open and honest about how he made a ton of money mistakes which forced him to file for bankruptcy. But he learned from those mistakes, and is now very conscious of all of his money decisions. Still, the biggest takeaway from his interview was to hustle hard and focus on earning more. Yes, there is value in living simply and frugally, but that shouldn’t deter you from trying new things, working hard, and striving to always earn more money. [Ep. 148] J.D. Roth – Take Charge of Your Finances (No One Else Will) J.D. Roth is one of the OG personal finance bloggers, who started the blog Get Rich Slowly, sold it for a hefty profit, then bought it back to run it again. The biggest takeaway from his episode was you need to be the CFO of your own life. If you want to be financially successful, don’t just hand off your finances to someone else to deal with and hope they do what they’re supposed to. No one cares more about your money than you do, so you need to step up to the plate and take responsibility for your own financial life. [Ep. 151] Shannnon Lee Simmons – Money Is a Tool for Good Shannon Lee Simmons released her first book Worry-Free Money last year, and I’ve been telling everyone who will listen to grab a copy ever since I finished reading it. It is one of the few personal finance books around that has a positive spin on finance. It makes you feel good about your money, not ashamed or judged. The biggest takeaway from her book was that money is a tool for good. You should feel good about your money. If you’re not happy with your current financial situation, it’s not too late. You can fix it! [Ep. 161] Laurie J. Cameron – Be Mindful with Your Money Laurie J. Cameron is the author of The Mindful Day, and teachers others how to practice mindfulness in their daily lives. Wouldn’t you know it, mindfulness is becoming a bigger part of the personal finance space, and for good reason. As I’ve been recognizing by working with my financial counselling clients, money is about the numbers. It’s about psychology. The only way to change your financial situation is to change your mindset and to be more mindful with every single one of your financial decisions. [Ep. 144] Cait Flanders – Minimalism Could Help with Your Spending Problem Along the same lines, in my interview with Cait Flanders, author of The Year of Less, living a more simple and minimal life may be the life change you’ve been looking for. Especially if you’re dealing with a spending problem and are looking to create a different type of relationship with your money. Practising minimalism helped Cait stay out of debt and live a more fulfilled life. Maybe it’s something you’ll want to try out next year too! [Ep. 165] Kathlyn Hart – You Deserve to Be Paid Your Worth This was one of my most downloaded episodes, and I’m not surprised. Kathlyn Hart, a negotiation coach, shares tips on how to ask for more money, either in the interview stage or when asking for a promotion. This is something, especially us women, need to do more of. Whenever I talk to women about this topic, most of the time they tell me they’ve never negotiated a salary or pay raise, they just accepted what was offered. Well, if you want to earn more, you need to ask for more and not be afraid to ask in the first place! [Ep. 171] Amanda Abella – Don’t Be Ashamed for Wanting to Earn More Money I loved chatting with Amanda Abella for this episode because I’ve known her for years from the FinCon community, and I also worked with her as a sales coach for my business too. For this episode, she shares how so many of us (again, mainly women) have a hard time feeling good about earning money. We associate it with negative ideas of greed and unworthiness. But that’s not how we’re going to change the wage gap. We need to ask for what we deserve, we need to feel good about earning, and we need to ignore anyone who shames us for feeling good about making money. [Ep. 174] Paulette Perhach – An Emergency Fund Should Be Everyone’s Top Priority If you need some major motivation for starting an emergency fund, this episode is it. Paulette Perhach, an acclaimed writer whose F** Off Fund article went viral, shares why she wanted to write about the importance of having an emergency fund in a new way. Instead of thinking of it in the traditional sense, think of it as a stash of cash you can use in case you need to get the hell out of a really bad situation (like leave your boyfriend or quit your toxic job). For full episode show notes, visit https://jessicamoorhouse.com/179
For this episode I chat with Brynne Conroy, the blogger behind Femme Frugality and the new author of The Feminist Financial Handbook, about women, money, the wage gap, financial confidence and what we can all do as a society to make the future a more financially equal one. Long description: I hope you’re ready for a deep dive into women, oppression, victim blaming, leaning in, financial confidence and the wage gap, because that’s exactly what my next guest and I discuss for this episode of the Mo’ Money Podcast. I’m joined by Brynne Conroy, the blogger behind Femme Frugality and the new author of The Feminist Financial Handbook. And as you can guess from the title of her book, instead of writing another how-to finance book, Brynne decided to look at some of the big problems women face when it comes to finance and what we can do about it. I love this interview so much (as you can tell from my many tangents), because I obviously can relate a ton to the content of Brynne’s book. I’m a woman, and growing up I had no idea that I’d be treated differently, or paid less, when I entered the workforce. It’s the 21st century after all! Haven’t we moved past all that? Unfortunately, no we haven’t. There is still a lot of work to be done, and the issues of financial confidence and the wage gap aren’t just women’s problems. They are societal problems that we need to fix together. Women can’t fix the fact that they are paid less without the support of men as their allies. The only way we can make a different future for young girls is to work together now. It’s certainly something I’ve passionate about, and it’s honestly a big reason I was so drawn to personal finance in the first place. All of the books and personal finance experts I saw were men. I want to see more women represented. Luckily, I’m already seeing more women enter the personal finance space compared to 10 years ago, and that makes me incredibly happy and hopeful. For full episode show notes visit https://jessicamoorhouse.com/178
Jessi Fearon was able to pay off $55,000 in debt in 2 years! Yes, I know, we've all seen headlines like this before, and usually you find out after reading the full news article that they were able to pay off that debt because they got a windfall, their parents helped them, or they earn over 6 figures at their job. Well, that's no Jessi' story. Her and her husband were able to pay that debt off by making some major sacrifices and hustling to make it happen. Now Jessi is a financial coach on mission to help others conquer their finances too! Long description: For this episode of the Mo’ Money Podcast, I chat with another Jessica who is also a financial coach! I’m talking about Jessi Fearon, who was able to pay off $55,000 in 2 years with her husband, while raising a family of 3 little ones. After being a stay-at-home more for a few years, Jessi now spends her days coaching others how they too can build a solid financial foundation and kick their debt to the curb (for good!) just like her family was able to. What I love about this episode, and Jessi for that matter, is that she is an open book when it comes to her numbers. Most of the time when you see some headline about someone who paid a big amount of debt in a short amount of time, you eventually find out it’s because they got a big windfall, their parents helped them out, or they earn a high salary. That’s not Jessi’ story at all. For her, it came down to making some tough choices, such as taking on some extra jobs like being a server or dog walker to earn some extra money, or having to trade in her dream truck for a more cost-efficient car to put the difference onto her debt. Basically, if you’re dealing with debt and need some motivation, this episode is going to make you want to get to work right away and start living a better life! For full episode show notes, visit https://jessicamoorhouse.com/173
To kick off Season 7 of the Mo' Money Podcast, I chat with Teen Mom star & entrepreneur Farrah Abraham about success, overcoming obstacles & balancing work with being a single mom. Long description: It’s the first episode in Season 7 (yes, 7!!!) of the Mo’ Money Podcast, and boy do I have a treat for you! This episode has been a long time coming. If you know me, then you know I’m a huge reality TV junkie. And one of the shows I’ve watched from the beginning is MTV’s 16 & Pregnant and its subsequent spin-off series Teen Mom. I’ve followed the cast members over so many years, I feel like I practically know them. Since I have been such a long-time fan, when I first started this podcast over 3 years ago, I made a list of dream guests. These were guests I hoped to have on the show once I hit a level of popularity that I could realistically get them to come on. Well, one of those dream guests was Teen Mom‘s Farrah Abraham. If you’re watched the show, or read celebrity news, you may know she’s a bit of a controversial figure. She’s outspoken, she’s worked in the adult industry, and she isn’t your typical Teen Mom reality star. What I mean by that last bit is that most of the cast members on Teen Mom (and Teen Mom 2 for that matter), seem to mainly earn their bread and butter from the show and being a social media influencer. A few of them have started clothing lines, but in general, none of them have shown as much entrepreneurial spirit as Farrah. There’s a reason for that, which we get into in the episode. Basically, Farrah has always wanted to be an entrepreneur and start her own businesses, even before being on the show. And despite what I thought, in that the show helped her get to where she is today, it actually hindered her in a lot of ways with lots of doors closing on her. Nonetheless, she sure has more drive than most 27 year-olds. That’s why I wanted to focus on that for this episode, because from all the episodes of Teen Mom and articles I’ve read about her, I kind of felt like no one really asks her about her entrepreneurial journey or how she was able to build up a net worth in the millions at such a young age. Personally, I don’t really care what’s said about her in the news or that she has businesses within the adult industry. I don’t judge people for how they earn their money. What I do judge people on are how they treat others, how professional they are, and how dependable they are. Farrah ticked all of those boxes, being nothing but pleasant during our interview, and being professional enough to reschedule our interview after our first interview date was cancelled due since it was on the day of the whole Beverly Hills Hotel situation. Entrepreneur First, Reality Star Second One of the things I found fascinating when talking to Farrah was that she considers herself above all else an entrepreneur, not a reality star. She’s definitely a reality star, considering she’s been on 16 & Pregnant, Teen Mom, Couples Therapy, Botched, Celebrity Big Brother UK and Million Dollar Matchmaker just to name a few. But, it was actually refreshing to hear that she didn’t choose to do 16 & Pregnant and then Teen Mom as a way to propel her career. Instead, she wanted to prove to young girls that it is possible to finish school and have a successful career, even if you are a teen mom. More than that, it also shows she doesn’t want to be famous just to be famous. Now, she uses her fame to create new opportunities and build up her portfolio of businesses. This is to help her create a solid financial backing for herself, but also for her daughter when she grows up and wants to join the family business. I also think it’s super admirable that Farrah didn’t just go down the easy route of being an Instagram star. You can make a ton of money partnering with brand and doing sponsored posts (and I would know), but she decided to not make that her main focus, but instead open three different brick-and-mortar businesses in Texas. That is not easy to do! I run my own business, but it’s completely online and I’m the only employee. I have such respect for people who run physical businesses with staff! Overcoming Obstacles & Negativity Farrah has had more than her fair share of obstacles to overcome. Starting with the father of her child passing away suddenly when she was a teen mom, to dealing with family rifts, to having constant negative media attention, to MTV deciding to fire her from the show. Most people wouldn’t be able to handle all that, especially not when in the public eye. I know I couldn’t! My feelings get hurt every time I see a mean comment from someone on my social profiles or blog! So, I had to ask Farrah how the heck she can overcome, move on and not let all that stuff get her down. She had a few great answers. One, she’s very spiritual. I don’t really talk about this much, but spirituality and believing in a higher power is also very important to me. It grounds me and reminds me that I’m not the centre of the universe. This is what also grounds Farrah, helps her move passed obstacles, and feel like she has a purpose on Earth. Another answer Farrah gave was that it’s important to surround yourself with people who are supportive and have positive energy. You can be tough as nails and ignore negative people, but it still can chip away at you. Instead, remove all those negative people or situations from your life, so you can focus on the positive. It’s definitely something I’ve done. In my lifetime, I’ve definitely had to quit jobs or remove friends from my circle who weren’t adding to my life, only detracting from it. What’s Next for Farrah? She’s got three 2 year-old brick-and-mortar businesses. She’s got a best-selling book. She’s got millions of fans on social media. From the outside looking in, it looks like she’s got a pretty cushy set-up and could easily retire early. But, that’s not what she wants to do. Instead, she hopes to develop her book about her life story into a movie, and become a director and producer in the film & TV industry. She also has plans to write her first business book. And I can’t wait to have her back on the show to talk about it! For full episode show notes, visit: https://jessicamoorhouse.com/166
One of the most common questions I get from people when it comes to investing is "Am I even doing it right?" It was also a question that my next guest Pauline Shum Nolan (Finance Professor) also gets, which is why she co-created Wealthscope, a website that helps investors understand their investments so they can feel more confident about what they're doing. Long description: It’s not every day I get to chat with a professor of finance! But that’s exactly why I sometimes have to pinch myself because my job as a podcast host can sometimes be so unfairly fun. For this episode of the Mo’ Money Podcast, I sit down with Pauline Shum Nolan, Professor of Finance at the Schulich School of Business at York University and the co-founder and CEO of Wealthscope. Basically, when it comes to investing, she really is an expert. She not only teaches finance at York University, she also manages the school’s pension program. And if she wasn’t busy enough, she developed an website called Wealthscope to educate and empower investors. We talk a lot about investing strategies in this episode, and big point we both keep bringing up is the lack of confidence so many people have when it comes to investing. That’s why so many of us just want to hand everything over to an advisor to deal with it, even if that might actually be the worst thing we could do with our finances. You see, investing isn’t that complicated when you break it down. And once you truly understand the basics, it’s easy to slowly build up your investing knowledge to a point where you feel completely comfortable managing your own investment portfolio, buying and selling stocks, and knowing when to call out someone for spreading misinformation. Here are a few key points we discussed in our interview together. Stay Diversified & Ditch High Fees Investing doesn’t just mean dumping your money in stocks and hoping for the best. It also shouldn’t mean handing over your money to an advisor and praying they manage your money properly. The best way to invest is to be an informed investor, staying diversified (investing in multiple investment products), and saying no to high fees. Let’s first start with staying diversified. There’s nothing wrong with investing in individual stocks, real estate or cryptocurrency. But you would be making a mistake if that was the only thing you’re invested in. A better way to invest would be to invest in index funds or index-based ETFs, then some individual stocks and/or real estate. And if you really wanted to dabble in something highly speculative, throw some money at cryptocurrency. Basically, following the rule of thumb to not put all of your eggs in one basket is the best way to do it. As for fees, the less fees you pay, the more money in your pocket. That’s why a lot of people are moving away from actively managed mutual funds in favour of low fee ETFs or index funds. You could be saving 1-2% in fees, which over a few decades could equal to hundreds of thousands of dollars. Keep It Simple When Rebalancing Your Portfolio Now, if you’re on board with becoming a DIY investor (which I think is awesome!), this is actually one of the top questions I get asked after what ETFs should I invest in (which I usually suggest checking out the Canadian Couch Potato’s model portfolios for a start). Rebalancing your portfolio isn’t something you should fret over. As mentioned countless times in Andrew Hallam’s amazing book Millionaire Teacher, you only need to rebalance your portfolio once per year, or when there is a big market correction. All rebalancing means is either sell/buying some of your equities or fixed income so it goes back to your initial asset allocation goal (ie. 80% equities, 20% fixed income), or buying more equities or fixed income to balance things out. To learn more about how to rebalance your portfolio, read this article from Investopedia. For full episode show notes, visit https://jessicamoorhouse.com/164
For the second time on the podcast (I had him on the show in 2015, episode 25 if you want to check that out after), I chat with The Value of Simple author John Robertson about his tips for practical investing for Canadians. Long description: It’s crazy to see how fast time flies…like when I interviewed John Robertson, author of The Value of Simple and personal finance blogger at HolyPotato.net, for the first time for episode 25 of the Mo’ Money Podcast back in Nov. 2015. That was almost 3 years ago! And that was also back when I got my guests to come over to my tiny apartment in Toronto to record with me in person. How is it already May 2018 and I’m at episode 158? HOW?! A lot has changed since that first interview. Not only has my own life and career changed significantly, but my investing knowledge too. When I first interviewed John, I’m almost embarrassed to admit how little I understood about investing. But then again, that was the whole point of interviewing him! So I could learn more about it and help others do the same. You see, everyone starts from investing knowledge 0, but no one ever talks about that, do they? When the topic of investing comes up, it always seems like everyone in the room knows what everyone else is talking about, and the ones who don’t, well, they just keep that to themselves and presumably google what “index fund” and “diversified portfolio” mean later (like I used to do). That’s why I really loved talking to John for episode 25. He explained investing, and more specifically index investing, in a very understandable and simple way. Which is a big reason why I’m always recommending his book The Value of Simple and his Practical Index Investing for Canadians course to anyone who wants to broaden their investing knowledge and be able to take action with confidence afterwards. That’s also why I wanted to bring him back on the show, because in the 2.5 years that have passed since our first interview, not only am I much more knowledgeable and confident when it comes to investing, I’m now an Accredited Financial Counselor-Canada® (which just means I studied investing in-depth to get my certification). If there’s one thing I hope you take away from this new interview with John, it’s that investing is for everyone. It’s not reserved for the already wealthy. It’s not just something people who love stock picking do. And it’s not something you need a lot of money or time to get started. Remember, if this girl who literally didn’t know what an index fund was 3 years ago can figure it out and become an empowered investor, so can you! For full episode show notes, visit https://jessicamoorhouse.com/158
Do know how to get money (as in earn), and do you truly get money (as in understand)? I talk with Kristin Wong, financial journalist and new author of the book Get Money about all things getting money! We talk about why people have such a hard time taking action on bettering their financial situation, setting financial goals, money and relationships, and being in the driver's seat of your investments. Long description: 2018 is the year of the woman personal finance author, and I’m all about it! Just to recap, for season 6 of the Mo’ Money Podcast, I’ve interviewed the following fabulous female authors who’ve published books this year: Shannon Lee Simmons (author of Worry-Free Money), Elizabeth Willard Thames (author of Meet the Frugalwoods), and Cait Flanders (author of The Year of Less). And for my latest episode, I’m interviewing first-time author Kristin Wong of Get Money. You may already be familiar with her YouTube channel or maybe you’ve see some of your articles in the New York Times, LifeHacker, or New York Magazine’s The Cut. She has been talking and writing about money for a while now, so it was only natural for her to write a book about how to live the life you want, not just the life you can afford. Honestly, in addition to Broke Millennial by Erin Lowry, I think Kristin Wong’s book is the perfect for anyone just starting out in their personal finance journey and is looking for some actionable steps to take. And I really do mean actionable, because Kristin wrote her book in a way that will get you thinking and then doing! What I love is that she breaks up her book into stages. Just like life has stages, so does you money. First, you need to power up, then optimize, then grow. I know that sounds simple, but she goes into way more detail in the book. And we chat about a few of those things in this episode. Specifically, why people don’t take action. A lot of us know what we’re supposed to do, but it’s hard to change how we’ve always done things. One of Kristin’s hopes is that her book will be that trigger to help you get moving. Next, we talk about goals. I never really knew financial goals were a thing when I was in my 20s, but I was always working towards something when I was starting to save and invest my money. If only I had made some of those goals more specific, I wonder where I’d be now in my financial life. Then, we talk about something we’ve all dealt with in one way or another: money and relationships. I know first-hand everyone has an opinion about how you and your partner should manage your money, but honestly, those people need to stay in their lane in my opinion. There is no right or wrong way to manage your money, no matter if you’re single or in a partnership. It’s all about what makes the most sense for you and who you’re managing your money with. Last but not least, we talking about investing. Something that way to many people believe is harder than it actually is. The thing is, you don’t need some fancy investment advisor in an expensive suit to tell you how to grow your money. You can actually do it yourself, or use a robo-advisor to make sure your investments are on track, as long as you get more comfortable with the lingo and some of the best practices out there. I sincerely loved chatting with Kristin, and 100% recommend her book. I know as soon as I my younger sister moves out on her own, it’s gonna be one of the first books I hand her. For full episode show notes, visit https://jessicamoorhouse.com/152
On this show, we talked personal finance for Millennials with personal finance expert, award winning blogger, host of the Mo’ Money Podcast and co-founder of Rich and Fit, Jessica Moorhouse. Listen to find out the three things you can do to better organize your financial world. Track to 19:33 for Jessica's Difference Making Tip! You can learn more about Jessica at JessicaMoorhouse.com, Twitter and LinkedIn. Please subscribe to the show however you’re listening, leave a review and share it with someone who appreciates good ideas. You can learn more about the show at GeorgeGrombacher.com, or contact George by clicking here.
Yes, you can bounce back from bankruptcy. More than that, you can take it as an opportunity to get your financial life together, never get in debt again, launch a successful business and be on your way to financial independence. Don't believe me? Well, just take it from my guest Perez Hilton, the go-to celebrity blogger who has created an empire for himself as an actor, author, blogger, podcaster, reality star & more. Long description: I can’t even believe this is really life right now, because somehow I was able to get the one-and-only Perez Hilton to chat with me on the podcast! Many of you may already know this about me, but I am a total celebrity news junkie. I know it’s silly, but I think I just like the fantasy of it all. Plus, that life is just so far removed from my own, it’s kind of like watching an episode Teen Mom. It’s fascinating and entertaining, but I’m really glad that it’s not my own reality. With that said, I’ve been a long-time reader of PerezHilton.com, going back probably when he started his blog back in 2005. I’m not lying when I say I’ve gotten into a routine of checking his website at least once per day, which is how I discovered his video about filing for bankruptcy when he was younger. I couldn’t believe he, a celebrity blogger, also had a personal finance story to tell, and I wanted to know more! So, after watching his video, I tweeted at him saying I’d love to have him on my podcast, and to my delight, he said yes! And within a week, I had a recording of our interview together and could not wait to share it with you for Season 6 of the Mo’ Money Podcast! In our interview together, we talk about it all. His money mistakes, the lessons he’s learned, how he hopes to achieve financial independence through passive income streams and real estate investing, and what he’s going to teach his kids about money when they grow up. I hope you love this episode as much as I do, because it really was so much fun to record! Thanks a million Perez for taking the time out of your crazy busy schedule to talk money with me, I’ll never forget it! Check Out Perez Hilton Read his famous celebrity blog at PerezHilton.com Listen to The Perez Hilton Podcast Subscribe to Perez Hilton’s YouTube Channel Follow Perez Hilton on Social Follow Perez Hilton (the Blog) on Twitter Follow Perez Hilton himself on Twitter Like Perez Hilton on Facebook Follow Perez Hilton on Instagram For full episode show notes: https://jessicamoorhouse.com/139
For my first episode of SSN 6 of the Mo' Money Podcast, I interview well-known Canadian radio personality Buzz Bishop about DadCamp & how he teaches his kids about being responsible with money. Long description: It’s the start of a new season for the Mo’ Money Podcast (Season 6 to be specific), and I have got quite the line-up of guests for you, let me tell ya! And similar to last year, this season definitely has a theme. Well, two themes really: financial independence and women authors. For this first episode of Season 6, we’re gonna start with the financial independence theme, since I interview well-known radio personality and influencer Buzz Bishop. As I mentioned in the episode, I’ve been listening to Buzz since I was a tween, so it’s pretty surreal that I’m now interviewing him on my show! But a lot has changed in his life since those days at Z95.3 in Vancouver. On top of doing radio across the country, he also has two boys and founded DadCamp, a community and website that’s focused on getting dads together to learn from each other, bond and create a discussion surrounding the role of fathers today. Since Buzz is already a successful media personality, DadCamp isn’t something he created to just earn more money on the side. He wanted to create it as way to help give back. So, all of the money he earns from it, he flips to Diabetes Canada and Team Diabetes, two causes he’s very passionate about. Is Buzz the best? Aside from talking about DadCamp, we dive into his perspective on money, how he manages his personal finances and invests it, and also how he teaches his kids about money. He learned a lot from his dad, so he wants to make sure he does the same to his two boys. And he teaches them by weaving it seamlessly into regular conversations. Making it a natural topic of discussion is key, as well as being open to answering questions. He also empowers his kids by giving them work to do on his blog so they can earn money. I think this is a great way to teach kids about saving, budgeting and earning money in a very practical and hands-on way. Kids learn best by doing, so I have a feeling his kids will be experts by the time they reach their 20s. Learn More About Buzz Bishop Check out DadCamp Like DadCamp on Facebook Subscribe to DadCamp on YouTube Follow Buzz on Twitter For full episode show notes: https://jessicamoorhouse.com/138
For my season ending solo episode, I share my thoughts on making it to the one-year mark of entrepreneurship, what I’ve been up to & how I’ve grown these past 12 months Long description: To wrap up Season 5 of the Mo’ Money Podcast, I thought it would be a good opportunity to do another solo episode to share my reflection of the past year. A ton has happened these past 12 months, so much so that even though I spewed my guts for 40 minutes in this episode, there was still so much I didn’t share. But I think my overall sentiments on the year got across. To think back to where I was this time last year, honestly, it’s like night and day. This time last year I was stressed, burnt out, and frustrated. My life was going in a direction I didn’t like, and I knew the only way to get back on a path that felt right, I needed to make a drastic change. Even though I thought I was prepared before quitting my job to work for myself, looking back I really was taking a huge risk. I didn’t have a business plan, I just had some ideas on how I’d make a living based on how I earned money with my side hustle (being my blog and podcast). Throughout the year, I fleshed things out a bit more, got more focused (sort of), and now have 10 different streams of income. I definitely want to focus things more in 2018, pair down those streams of income to maybe 5, and increase my business revenue to 6-figures. And two big ways I hope to accomplish this is by ramping up marketing and promotion of the Rich & Fit Bootcamp and launching my financial counselling practice. Lots to look forward to in 2018, but before the New Year starts I’m just thankful of how 2017 went. I’m proud that I stayed strong, worked hard and proved to myself (any all the nay-sayers) that I could do this on my own. Here’s to a New Year and endless possibilities! For full episode show notes visit https://jessicamoorhouse.com/136
Don't think of want to earn more money as being greedy. Think of it as a way to help you help others. I talk about the idea that it's okay to be "money hungry" with the goal of being able to serve others and live your best life with blogger and podcaster Michelle Jackson of Michelle Is Money Hungry in this last podcast interview episode for Season 5 of the Mo' Money Podcast. Long description: Before I recorded this episode, I’d only met Michelle Jackson from Michelle Is Money Hungry a few time at past FinCon conferences. But the few times we did meet, we immediately hit it off. Michelle just has a special energy and light that I couldn’t forget, and because she is all about earning money these days, and that’s what the theme for this season has been about, I knew she would make the perfect guest for my last interview for Season 5 of the show. The reason I gave this episode the title “Making Life Changing Money” is because it’s one of the things Michelle mentioned at the start of this episode that I couldn’t stop thinking about. It’s just such a great way to express how I also view earning more money. I don’t want to earn more just so I can buy more stuff. I want to earn more so I can do more stuff, including continue to create free content like my blog, podcast and YouTube videos that aim to promote financial literacy. I want to earn more so I can live a life that is full and financially secure. I want to earn more so I can take care of me and my family, but also others who need my help too. And that’s exactly how Michelle lives her life as a new entrepreneur. She wants to earn more so she can live her best life, but also so she can afford to help others live their best lives too. Throughout this season, I interviewed a lot of guests on how to earn more, but I think this final episode is a great way to cap things off by focusing on the why. Make sure to check out Michelle’s website and feel free to reach out to her at michelleismoneyhungry@gmail.com. For full episode show notes, visit https://jessicamoorhouse.com/135
He wasn’t fulfilled in his life or career, so instead of complaining and wishing he had better luck, John Lee Dumas did something about it…which turned into a multi-million dollar a year business now known around the world as Entrepreneurs on Fire. Long description: This is a pretty big moment for me because ever since I started the Mo’ Money Podcast back in June 2015, John Lee Dumas was one guess I aspired to get on my show. Fast-forward 2 years and over 100 episodes and I got him! So, why did I want to get him on the show so badly? Because he was actually one of the inspirations for me starting my podcast. When I got the idea to start a podcast, I immediately starting researching online and fairly quickly he popped up. He had (and still has) a very successful podcast called Entrepreneurs on Fire, and he also had a free course on how to start a podcast. I took the course and it really helped me start things off on the right foot. Honestly, if I hadn’t taken his free course, I know I would have made all the rookie mistakes and would have taken even longer to propel my podcast into what it is today. For my interview with him, I just wanted to dive deep into what we was about, how he got to be so successful as a completely online entrepreneur (he now lives and runs his business from Puerto Rico). I also wanted to know how he does all the things he does and stays sane and grounded. And of course, he has a stellar morning ritual to start of his days right, something I know I need to start implementing myself. This episode isn’t really about personal finance, but I wanted to share it because John is seriously such an inspiration to me. He’s a hustler, he’s a risk-taker, and he’s proof that if you feel unfulfilled and unhappy in your life, you can absolutely change course at anytime (it’s never too late!). Helpful Resources The Dip by Seth Godin The Freedom Journal by John Lee Dumas John Lee Dumas’ resource library For full episode show notes visit: https://jessicamoorhouse.com/127
Ever daydreamed of being able to RV around the country and working solely from your laptop? That dream is Michelle from Making Sense of Cents' reality, and she shares how she went from being 4-figures in debt to earning 6-figures every month Long description: I’m so excited to be kicking off Season 5 of the Mo’ Money Podcast with this stellar interview with Michelle Schroeder-Gardner from Making Sense of Cents. It’s not every day you get to talk to someone you’ve been following for years who went from ordinary personal finance blogger to online entrepreneur raking in over $100,000 per month (yes, I’m not lying, just check out her income reports for proof!). Now, I want to preface that even though Michelle is able to earn six figures per month, if you’re not, that’s ok! This episode isn’t to say that you should be earning as much as Michelle and if you’re not you’re failing at life. This episode should serve as motivation and inspiration to earn more than you do right now. Michelle didn’t start out making this much, she hustled to get where she is today. And she still hustles today to keep it going so she can continue RVing around the country, working from her laptop and supporting her family. So after this episode, I dare you to look at your current financial situation, start taking your debt seriously if you have some, and see if there is any way you can earn a little extra to help you move toward you financial goals that much quicker. Here are some tips from Michelle below to help you get started. Tips for Getting Out of Debt Take all of your student loan balances and add them up so you know the exact total. This will give you a concrete number to keep in your mind to work towards paying off. Find ways to cut back on your spending so you can put any extra money towards debt-repayment. Find ways to earn extra money so you can pile that onto your debt to accelerate repayment. Set a deadline and be specific. Don’t just say you want to pay off your debt in a few years. Pick a specific date two years from now that will be your debt-free date. Tips for Starting an Online Business Diversification is key to start out so you don't rely on one income source. Find out what works for you, and if you want to be a freelancer who works for clients or an entrepreneur who sells products or has a service for customers. In terms of blogging income, creating a product (like a course) can be a great source of income, and same with taking part in affiliate programs. For more info, visit the podcast show notes: https://jessicamoorhouse.com/115
To wrap up Season 4 of the Mo' Money Podcast, I recorded a special solo episode to share what I've been up to and my plans for the future. Long description: I can't believe we've already arrived at the end of Season 4 of the Mo' Money Podcast. With 114 episodes and 2 years of podcasting under my belt, I can honestly say that starting this podcast has hands-down been one of the best decisions I ever made. To wrap up with season, I thought it was time for another solo episode. So, I took some time last week to lay on my couch therapy-stay and record pretty much anything that came into my head. I share what it's been like since I quit my full-time job to work for myself. How it's been being a homeowner for almost a year now (spoiler: it's been awesome and expensive). And lastly, I share what I've got coming up for the second half of the year and some ideas I've been considering for Season 5 of the podcast and just my community building efforts at large. Ideas I've Got for the Future For instance, would you be interested in a special series on the podcast dedicated to making money and entrepreneurship? I know there are a ton of podcasts out there focused on that already, but I find none of them truly talk about the financial aspects of owning a business or starting a side hustle. Another idea I had was to start doing mini-meetups in my city of Toronto (and maybe in Vancouver when I'm in town). I love doing my Millennial Money Meetups, but they're a pretty big ordeal and it would be neat to do something a bit smaller and more intimate. My last idea was maybe start some sort of book club in my Facebook group. Logistically, I'm not exactly sure how to do this besides integrating a Facebook live aspect to it, but I think it would be a great way for us all to learn then chat about different aspects of personal finance. Just putting that out there, so if you have some opinions or have any other ideas you'd like me to explore, please let me know by tweeting me or emailing me! A Huge Thank You for Supporting the Podcast! Aside from me just talking about me for a good 30 minutes, what I really want to express closing out this season is how thankful I am for you listening and subscribing to my podcast. It was a passion project that quickly turned into something real that people binge-listen to! I never thought I could affect or reach people like I am through this podcast, and it's honestly the best feeling in the world to feel that type of strong connection. It's something I never really felt with just the blog, so seriously a big thank you for supporting the Mo' Money Podcast, and I'm excited to kick-off Season 5 of the show this fall. Make sure to subscribe on iTunes, SoundCloud or YouTube if you haven't already to be updated when Season 5 starts, or sign up to my weekly newsletter to stay in the loop! Other Solo Episodes You May Want to Listen to Episode 82: Why I Quit My Job to Become an Entrepreneur Episode 80: Why 2016 Was Crazy Wonderful — A Year in Review Episode 54: I’m Back from the Summer & I’ve Got Some Big News Episode 52: 30 Life Lessons I’ve Learned Before Turning 30 Episode 30: Education & the Student Life Episode 20: Being a Missionary & Sponsoring a Child Episode 10: Moving Away & Starting Over Episode 1: My Personal Finance Journey For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/114
Managing your money with your partner doesn't have to be awkward or even difficult, and Talaat & Tai McNeely from His and Her Money share how to do it successfully. Long description: For my second to last episode of season 4 of the Mo' Money Podcast, I chat with Talaat and Tai McNeely, America's favourite money couple from His and Her Money. We talk about how they got together and figured out their own financial differences, then what led them to start helping others and sharing their wisdom with the masses through their podcast and YouTube channel. If you're in a couple, and you have a ton of questions about how to manage your money successfully with your partner, this Talaat and Tai have the answers. They've been together for over a decade and have been through or seen it all. And their advice is on point! At the end of the end, it really just comes down to open communication and respect. Just like working through other issues in a relationship, you need to listen to your partner, understand where they are coming from, compromise and really tackle those issues as a team. Talaat & Tai's Top Blog Posts 3 Words That Will Help You Become Debt Free Faster 9 Smart Financial Moves Every Single Should Make Does Your FICO Score Really Matter? Follow Talaat & Tai on Social Like Talaat & Tai on Facebook Follow Talaat & Tai on Twitter Like Talaat & Tai on Instagram Subscribe to Talaat & Tai on YouTube For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/113
At a certain point in your personal finance journey, you'll realize that there's nothing left to cut out of your budget and you're living as frugally as you can. At that point, it's either time to look for a higher paying job or joining a number of others by getting yourself a side hustle. In this episode I chat with Nick Loper, founder of Side Hustle Nation, about how to get a side hustle and how he was able to turn his love for side hustles into his full-time gig. Long description: It seems like everyone has a side hustle these days, or is thinking about starting one. Which is why I thought the perfect guest to have on the Mo' Money Podcast would be Nick Loper from Side Hustle Nation. I met him after I spoke at FinCon's Ignite last year, and I was in total awe of his podcast and the insanely loyal audience he grew. But the best thing is, he's seriously the nicest, humblest guy! Now, I've kind of always had a side hustle. It started with being a teleprompter operator for the news, PAing on film sets, then eventually I started this blog to see if I can earn some money. Well, after almost 6 years, I was able to finally turn this side hustle into my full-time hustle, so if you're ever wondering whether it's worth it to start a side hustle and spend some of your extra hours on building a side business — just try it. There's no harm in trying a few things out and seeing if they work. And there's no shame in failure as long as you walk away with a lesson learned. In this episode, Nick also shares his personal story with getting his first side hustle and how he eventually became an online entrepreneur teaching others about how side hustles could take them to the next level with their financials. As I always tell people, at a certain point, you'll find with your budget that there's nothing left to cut out. And at that point, it's time to start looking at other ways to earn some extra income. I hope you enjoy this interview with Nick, and make sure to scroll down below for more info about my Rich & Fit Bootcamp course, or click here to visit the registration page. Check Out Nick's Best Podcast Episodes How 25 Side Hustlers Made Their First Entrepreneurial Income 5 Real Estate Side Hustles You Can Start on the Cheap How a Former Hairdresser Turned Her Side Hustle Into a 6-Figure Business Check Out Nick's Best Blog Posts 5 Questions to Answer Before You Quit Your Job: Your Make the Leap Checklist How I Made $2000 While Vacationing in Rome: Freelancing While Traveling – Without the Guilt How I Built a Million Dollar Blog (by Growing a Loyal Audience) Follow Nick on Social Follow Nick on Twitter Like Nick on Facebook Follow Nick on Pinterest Register for the Rich & Fit Bootcamp I mentioned in this episode that myself and business partner Jaclyn Phillips have finally launched our Rich & Fit Bootcamp course together, and I want to share all the juicy details with you! First, visit the registration page to learn more and to register before the cut off date of Wednesday, June 7. But also, check out our webinar replay to find out what we'll be teaching and what the course platform will look like when you get access to it. And if you have any questions and aren't sure if this is right for you, please email me, happy to chat! Learn more about the Rich & Fit Bootcamp For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/110
The host of the Mo’ Money Podcast, Jessica Moorhouse tells Doug what millennials need to know about investing. They discuss the financial difficulties the millennial generation deal with and how that poor preparation can be countered. Jessica emphasizes the ideal financial plan of both reducing debt and investing money for the future. One of these planning techniques is creating smart money habits, which are the surest way to meet financial goals and to prepare for what the market throws your way. Jessica shares some of these smart money habits and how to establish them. Doug will be teaching a class soon! Doug will be teaching an MBA class in finance at Webster University. The course will be based on the principles laid out in his book Rich as a King: How the Wisdom of Chess Can Make You a Grandmaster of Investing. The book was co-authored with Susan Polgar, a Grandmaster in chess. Believe it or not the game of chess and investing have a lot in common. Doug will outline some of the topics he will cover in his course and how financial behavior plays a part in investment choices. To hear Jessica Moorhouse’s podcast visit www.jessicamoorhouse.com. You can also find her podcast Mo’ Money Podcast on iTunes and YouTube. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book. You can also watch Doug’s interviews on his Youtube channel.
In this episode, Katie talks with Jessica Moorhouse about a topic that we all have to think about but most of us don’t exactly love...personal finance. Jessica is a millennial money expert, speaker, award-winning personal finance blogger and host of the popular Mo’ Money Podcast. During the podcast, they discuss going from film-making to finance, overcoming difficulties in business and finding inspiration. Listen in as Jessica talks about how she followed her dreams and found success.
Renting is not throwing your money away, and home ownership isn't something everyone has to aspire to. Alex Avery, author of The Wealthy Renter and seasoned financial analyst, shares his insight into why there is a misconception about the benefits of owning a home and why renting might actually make you richer. Long description: To kick off season 4 of the Mo' Money Podcast, I chat with a very special guest about one of my favourite topics — homeownership. Alex Avery, the author of The Wealthy Renter, and I chat about the upside of renting and how homeownership isn't for everyone and doesn't have to be. I've been an advocate for renting for a while, having been a renter myself for close to 6 years. It was the only way my husband and I could afford to live and work in downtown Vancouver and Toronto. If we tried to avoid renting and bought something right away, we'd either be forced to move an hour away or would be chained to a huge mortgage for 20+ years. Instead, we chose to rent and save up our money so one day we could afford to buy without becoming house poor (which we did this past August). These are some of the points Alex touches on in his book too. The idea that renting is the equivalent to throwing your money away is outdated and unfounded. Renting can actually mean more flexibility in your life and more space to save more money so you are richer in the end. For more podcast episodes, check out the podcast page. Show notes: jessicamoorhouse.com/81
It's a simple concept — do your research to find the lowest rate on an expensive purchase (like life insurance or a mortgage), and you'll thank yourself later. Simple, yet most of us still don't do it. That's why Justin Thouin, CEO of LowestRates, is on a mission to change that costly habit of ours and show us that it doesn't take that much time or effort to save thousands of dollars. Long description: It's sadly the final week for season 3 of the Mo' Money Podcast, and this episode is my last guest interview for the season. After this week I'll be taking some much needed time off, then I'll be back with more awesome episodes for season 4 starting Wednesday, Jan. 11. Since it is the last week for season 3, I've saved one of my best interviews for last. I've been a huge fan and supporter of LowestRates for well over a year now, but this was the first chance I got to interview the start-up's CEO Justin Thouin. I even went to the Lowest Rates offices and brought all my podcasting gear just so I could get to the bottom of why he's so passionate about educating people about the importance of comparison shopping. It may be common sense to most of us, but the truth is most of us don't actually try to find the best rates on the important stuff. Sure, we'll spend hours trying to find the best deal on a vacation package, but like LowestRates' survey shows, most Canadians don't spend the same time and effort when it comes to finding the best rate for their mortgage. Which is insane because a vacation will cost you maybe $1,500 whereas a mortgage is closer to $500,000! Come on people! In this episode we also chat about Justin's journey from the corporate world to launching his own company, and taking a big risk to pursue something he believed in. This is a sentiment I can definitely relate to, but I'll leave more details on that until season 4. That Survey I Mentioned LowestRates conducted a very interested survey this year to show how few Canadians comparison shop for their mortgage, even though there are so many free resources out there to make it easy! You'll never get the best deal if you don't do your research first! And if we're talking mortgages, finding a lower rate than the one your bank initially offers you could save you thousands of dollars in the long run. SURVEY: Are Canadians Making Embarrassing Financial Decisions? LowestRates' Most Helpful Blog Posts Toronto millennials: is it worth it to own a car in the city? What’s the best credit card? We recommend cards to four different Canadians Toronto: should you buy a house or should you move on? How I stopped budgeting and learned to love the tracker Follow LowestRates on Social Follow LowestRates on Twitter Like LowestRates on Facebook Connect with LowestRates on LinkedIn For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/79
For this special Listener series episode, I chat with Erika from Red Deer, Alberta about how she experienced extreme poverty in her childhood, was later adopted to a new family with her brother and had to accept the news that she had MS in her early 20s. She's had to overcome a number of obstacles in her young life so far, more than most people ever have to deal with. But despite that fact, her optimism is infectious and she's proof that when there's a will there's a way, and it's never too late to start managing your money right and crushing your debt. Long description: Erika emailed me a little while ago answering my call-out for more interviewees for my Listener Series, and I'm so glad she did. Talk about a strong woman who has overcome some major life challenges. Not only did she have to experience extreme poverty as a child, then foster care, then being adopted to a new family, she was also diagnosed with MS in her early 20s. It's not surprising that she struggled with striking a balance between living frugally and spending her money freely to live in the moment. Luckily, she soon realized that YOLOing it up wasn't the answer, nor was living like an extreme cheapskate. She needed to find a system that worked that gave her clarity, freedom and balance. Now she's well on her way from being debt-free, and I absolutely have it in my calendar to see if she achieves her goal of crushing her debt by this time next year. Actually, I hope to follow-up with all of my Listener Series guests to see how they're all doing in a year's time, how cool would that be! Thank you Erika for sharing your story with me and to all of the Mo' Money Podcast listeners. You are a rockstar, so keep up the great work! Erika's Budgeting Go-to Software YNAB (You Need a Budget) Her Words of Wisdom on Living with MS I really just want to get rid of that stigma of [living with MS] being shameful. 20 plus years ago it was very much don't tell anyone...it was a black mark. It's no longer that way and I want to work towards making sure that people no longer feel that way about it. Got a story that you think would be good to share on an episode on of Listener series? Please email me! For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/73
I chat with Erin Bury, who was not only listed under Marketing Magazine's 30 Under 30, but also grown her personal brand so big...even Oprah noticed. For this episode of the Mo' Money Podcast, I chat with Erin about what she learned about what not to do with her money in college and why she decided to change career paths from journalist to small business owner. Long description: "Millennials are not lazy entitled, losers and we actually have a lot to say," - Erin Bury. Officially my favourite quote from one of my podcast guests! The big reason I wanted to chat with Erin is because she is such a good example of where hustle can take you. She's gotten to where she is in her career because she worked hard, tried new things and took some major risks. For instance, when I asked her how she got to be one of Marketing Magazine's 30 Under 30, she said she nominated herself. I bet most people wouldn't have even thought of doing that, and while those people are waiting for someone to just give it to them, Erin went out and got it for herself. You go girl! I also love how she advocates for everyone to work on their personal brand. As I mentioned, for my day job, part of it entails teaching professionals how to craft their personal brand to win new business. But if you're not looking for clients, you could still find a new job or a new gig just by putting some time and effort into your social profiles and pitching yourself as an expert to the media. All I know is I can't wait to see what Erin's accomplished when she gets listed for 40 Under 40! That Agency or Porn Campaign Erin Mentioned About 88 Creative's Agency or Porn Campaign Tidbits of Advice from Erin Put time and effort into crafting your personal brand. That's how you'll stand out from the crowd when applying for jobs or starting your own business. Find a mentor to help you find out what direction you want to go into for your career or learn new skills. Pay it forward, either by investing in future entrepreneurs or becoming a mentor yourself. 2 Great Websites to Help You Find a Mentor Mentor Exchange Ten Thousands Coffees Erin in the News Erin Bury Of 88 Creative: No One Else Has More Right To Be Doing What I Am Doing - Huffington Post Why getting away from it all might be exactly what startup founders need — at least for a weekend - Financial Post How to lead a successful startup: Erin Bury, 88 Creative - ITBusiness Nine Career Lessons I Learned Before 30 - Huffington Post Follow Erin on Social Follow Erin on Twitter Connect with Erin on LinkedIn For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/70
Canadian personal finance expert Rubina Ahmed-Haq and I chat about how her upbringing helped her understand how to manage money at a young age, and how her career as a journalist eventually led her to become a popular Canadian personal finance expert and TV personality. Long description: For this episode of the Mo' Money Podcast, I chat with Canadian personal finance expert Rubina Ahmed-Haq. She blogs over at Always Save Money, but she's been in the finance game for a long time. She started out as a journalist, but after years in the industry she realized her passion was for personal finance. Now, instead of being a foreign correspondent for ABC News, you can find her on almost any Canadian news station as the go-to money guru. Besides talking about her transition from journalist to expert, we also got into why she got so into personal finance from the first place. And it was largely her upbringing that made her so financially savvy. Although many of us aren't included in money conversations as kids, Rubina's family talked about it openly. This helped her get a grasp of the finance basics earlier than most people, and it definitely inspired me to make money an open topic for discussion when (or if) I have a family in the future. We also chatted a bit about values, and how many people and families have values that are out of whack so to speak. We shouldn't be focusing on giving our kids whatever they want, and spending money on them to show them we care and that we're good parents. That is not going to set a good precedent for when they grow older. They need to understand the value of a dollar and the importance of managing it and spending it wisely. That's something I got from living in a frugal family, and honestly, I know it's a big reason why I didn't get into credit card debt or live paycheque to paycheque. Some food for thought I hope. Follow Rubina on Social Follow Rubina on Twitter Like Rubina on Facebook Subscribe to Rubina on YouTube For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/68
For this special solo episode, I share what's been happening on the new homeowner-front since my first episode of the season where I announced that my husband and I bought our first place. Long description: In my first episode (and first solo episode) for season 3 of the Mo' Money Podcast, I shared with you the big news that my husband and I bought our very first place. After one failed house hunt two years ago, we restarted our search in July and ended up buying a townhouse in Toronto. Not only that, we were able to put 25% for our down-payment so we could keep our monthly payments as low as possible. Well, since I recorded that episode at the beginning of September, a lot has happened. We've owned our home for 1 1/2 months, and we've already experienced quite a few ups and downs as new homeowners. Some of the Not So Fun Things About New Homeownership Overall, we are still super happy with our decision, but it has hands down been the most stressful period in our lives (save for maybe planning our wedding 3 years ago). You know when people warn you that things are gonna go wrong and break when you buy a place so be prepared? Well, they did, and we are seriously so glad we were prepared! At the end of the episode I offer some tips I believe everyone thinking of buying a place should consider. One of those tips was to have a special emergency fund for housing repairs and replacements that you'll need to do right away. For us, we had to replace our washer/dryer and stove within the first week of moving in. How much did that cost is? About $3,000! But we need clean our clothes and cook our food so we had to replace them both ASAP. Luckily, we had the cash stashed away so we could afford it. If we didn't, we may have had to dip into our other emergency funds (for real emergencies or job losses), or had to put them on credit. Since I'm am 100% anti-debt (though now I guess I'm not totally debt-free with my mortgage), that just wasn't an option for me. How You Can Easily Get Swept Up into a Never-ending Spending Cycle Besides having to drop some major cash after getting the keys, our place has pretty much been total chaos since we moved all of our stuff in. We've been here almost 2 months and we still have boxes everywhere. Why? Because it takes a lot of time to unpack a house, and my husband and I work pretty much around the clock. I'm hoping that this weekend, which is Canada's Thanksgiving long weekend, I'll be able to get a few major things down around the house, but the list keeps getting longer and longer. For instance, our place is considered a 2-bedroom with den. However, the den is really just this awkward alcove waste of space. Ideally, we'd like to convert it into something more useful by expanding the second bedroom and adding in a linen closet. But again, in order to even find out if this is a possibility with our housing corporation, we have to hire a contractor to draft up the plans for us. We also have to replace the backsplash in our kitchen. The previous owners had this ugly wallpaper as a backsplash, and one night I just couldn't stand looking at it anymore so I ripped it all off. So now the wallpaper is gone, but I still need to put up a new backsplash. Then again, the countertops are also pretty ugly. And I don't really like the cupboards either. Maybe we should look into redoing the whole kitchen? You see how being a new homeowner can be chaotic, stressful, overwhelming and expensive all at the same time? Just So You Know, New Homeownership Isn't All Smiles & High-fives But I'm not sharing all this with you to scare you! I'm just letting you know that buying your first place does not look like any of these stock photos. Sure, there are some smiles and high-fives. But there's also a lot of hair pulling, teeth grinding, bickering and sleepless nights. But Overall, I'm Still So Happy to Be a Homeowner Even with all that said, I'm still super happy and proud to be a homeowner. It's something I've always dreamed of, and I hope in the future we'll be able to buy more properties to rent out too. And I know it won't always be this chaotic. Things are slowly starting to settle down. For instance, as I type this right now I'm in my very own office, which I haven't had for over 3 years. Even since we moved to Toronto, the living room has been my husband and I's shared office. Now, we finally have some space and privacy. I'll most likely do another update podcast episode at either the 6 month or 1 year mark. Until then, make sure to subscribe to my YouTube channel as I'll be posting some new videos soon all about life as a new homeowner! For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/63
For this episode, I chat with a truly wonderful man, who is so full of positivity and financial expertise, I can't believe I booked him for this interview! I'm of course talking about the one and only Bruce Sellery. He's a TV host, author, speaker and business journalist who makes money easy to tackle and kind of fun. In this episode, we talk about his successful career and how it all came to fruition, how he got to become a published author, and what the most important things everyone should know when it comes to personal finance. This episode of the Mo' Money Podcast is brought to you by WealthSimple. To learn more about the the fastest-growing automated investing service in Canada and to get your special $50 bonus when you open a new WealthSimple account, go to: wealthsimple.com/jessicamoorhouse. Bruce Sellery is seriously a delight! I was so nervous about contacting him because I'm definitely a fan and just love what he's doing in the personal finance space. But Bruce being the genuine guy that he is, got back to me right away and was such an amazing guest to have on the show. In this episode, we chat about his career, and how it started in the corporate world, led him to become a founding member of BNN, and then eventually a published author, TV host, public speaker and personal finance expert. If you haven't read Bruce's books yet, I highly recommend them. As I mentioned in this episode, I just love his tone in his writing. I don't know how he does it, but it definitely reads like you're best friend is talking to you and just makes money something fun to tackle with his guidance. What I didn't include in this episode is a long conversation about dessert. He mentioned apple fritters as his go-to sweet, and for me I'm all about the cupcakes. And I couldn't believe he'd never been to Bakerbots Baking in Toronto before, then again I've never seen an apple fritter there. Bruce's Books You Need to Check Out Moolala: Why smart people do dumb things with their money (and what you can do about it) The Moolala Guide to Rockin’ Your RRSP Follow Bruce on Social Follow Bruce on Twitter Like Bruce on Facebook For more podcast episodes, check out the Podcast page. Shownotes: jessicamoorhouse.com/56
www.jenhemphill.com/60 This wraps up our Summer Cool Off Series and I can’t think of a better way to wrap it off but by introducing you to Jessica Moorhouse! She is an award winning blogger and host of the Mo’Money Podcast. What you'll learn about in today's episode: How she managed to go to college with only having to take out a $5000 school loan The leap of faith that moved her and her husband to Toronto with no job and very little money The story behind her $250 leather jacket purchase and what resulted from it
www.jenhemphill.com/60 This wraps up our Summer Cool Off Series and I can’t think of a better way to wrap it off but by introducing you to Jessica Moorhouse! She is an award winning blogger and host of the Mo’Money Podcast. What you'll learn about in today's episode: How she managed to go to college with only having to take out a $5000 school loan The leap of faith that moved her and her husband to Toronto with no job and very little money The story behind her $250 leather jacket purchase and what resulted from it
For this special episode of the Mo' Money Podcast, I interview my younger sister Sarah about what it feels like to have just graduated university, how she managed her money during school and was able to avoid getting into student debt, and what her plans are now that she's a post-grad in the "real world." I also offer some helpful tips on things I learned when I was in my sister's shoes, like how best to search for a job, how much money to have saved up before moving out and how to keep focused without sweating the small stuff.
In the final episode for season 2 of the Mo' Money Podcast, I do a special solo show to reflect on the 30 biggest lessons I've learned over the course of my 30 years on Earth in terms of money, life and balance. Long episode description: This episode of the Mo’ Money Podcast is brought to you by Lowest Rates, who are providing $250 for today’s giveaway! To find the lowest rates when it comes to mortgages, insurance and credit cards visit LowestRates.ca. Today is a pretty big day for me. It’s my one year anniversary of the Mo’ Money Podcast (with 52 episodes in the frickin’ can!), it’s the end of season 2 of my podcast (season 3 to resume in September), and this week is my birthday week. I officially turn 30 on Saturday, but in my mind my birthday lasts a full week. Now, this very special solo podcast episode is based on my blog post about the 30 life lessons I’ve learned before turning 30. I thought it would be cool to not just write about this, but also to explain what I’m talking about verbally. Honestly, as much as I love to blog (I mean I’ve been at it for 4 1/2 years now), I really do feel more myself when podcasting. Maybe it’s because there’s no real room to over think things and I can just say exactly what’s on my mind freely. In any case, I think I might do a few more of these blog posts turned podcast episodes in the future. Plus I realized I really miss doing solo shows. Shownotes: jessicamoorhouse.com/52
The one and only Gail Vaz-Oxlade and I chat about her career as a personal finance guru, TV host and best-selling author. She also shares her top money tips for getting rid of debt, kicking bad financial habits to the curb and leading a more balanced life. Long episode description: This episode of the Mo’ Money Podcast is brought to you byWealthSimple. To learn more about the the fastest-growing automated investing service in Canada and to get your special $50 bonus when you open a new WealthSimple account, go to: wealthsimple.com/jessicamoorhouse. Before I even recorded my first podcast episode almost a year ago, there was one guest I always dreamed of interviewing. At the time I thought it was just that, a dream, but one year and 51 episodes later it’s now a reality! I’ve been a huge fan of Gail Vaz-Oxlade for years. I obsessively watched Til Debt Do Us Part when I was 24, broke and living in a basement with two equally broke roommates. It was her say-it-like-it-is attitude and helpful advice that motivated me to save as much as I could and stick to a budget during those tough years. I am so thankful for her show and books, and I know I wouldn’t be as financially on track today if it weren’t for her. I am also thankful that I got the gumption to ask her to be on my podcast early this year, because I think I got her right in the nick of time! Gail has had a long and successful career as a money guru, and she mentions in this episode, she’s going to be taking a step back to focus on other opportunities. I hope you love this episode as much as I do! And I ardently encourage you to check out some of her helpful resources, her awesome books (Money Talks is a great read!), and join her community on Facebook. And make sure to check back here next week (or subscribe to my email list) for my final episode of the season where I’ll be doing a special solo episode and giving away some prizes to mark my one year podcast anniversary! Helpful Resources & Tools Gail’s Interactive Budget Worksheet Gail’s Wedding Budget Worksheet Gail’s Own Up to Your Debt Worksheet Gail’s Books You Need to Read Right Now Money Talks Money Rules Saving for School It’s Your Money Money-Smart Kids Never Too Late Debt-Free Forever Easy Money Follow Gail on Social Follow Gail on Twitter Join Gail’s community on Facebook Shownotes: jessicamoorhouse.com/51
Jen Hemphill is proof that if there's a will, there's a way to balance family, money and career. Being an army wife isn't easy, especially when you have to move around the country with your family every few years. Most people with spouses in the military have a hard time maintaining a career living this lifestyle, but Jen found a way to have a career, help support her family financially and educate others about the importance of personal finance by starting her own money coaching business. In this episode she shares her story of growing up as a latch-key kid from a humble family, and how that influenced her to be a dedicated stay-at-home mom while pursuing her ambitions to be an entrepreneur who could help other women take control of their finances too. Long episode description: Jen Hemphill is an entrepreneur, money coach, mother and army wife, and in this episode of the Mo’ Money Podcast she chatted with me about how she started her own business while juggling the family finances and being a full-time stay-at-home mom. I often wondered how people like Jen did it. It’s not easy having to move around the country for your partner’s job, having to start a new life in a new town every few years. I’ve only moved cities once, and honestly, once might just be enough for me! Not only that, being married to someone in the military can mean giving up your career to support your partner’s career. That is not an easy thing to do, though as Jen shares in this episode, it’s not the only option. Jen figured out a way to have a career that melded perfectly with her life. She started her own business that she could take with her anywhere by being a money coach online. Not only that, she’s really good at what she does! She is just so passionate about helping people, especially women, take control of their finances and set themselves up for a better future, it was incredibly inspiring talking to her. On top of being a money coach, Jen also has her own podcast and continually makes new resources to help teach others about personal finance. I’ve listed a few resources below, plus my favourite podcast episodes of her’s. Lastly, she also a Facebook group for women who want to take ownership of their financial lives, so if you’re looking for a community that fits this bill, make sure to join! Helpful Resources & Books Systems + Mindset = More Money: Achieving Your Money Dreams When You Have No Time Simple Actions to Save You More Money While Taking Away Stress My Favourite Her Money Matters Podcast Episodes Taking Financial Responsibility With Priscilla Okwaro How She Stayed Clear Of The Debt Trap With Valerie Rind How To Save And Indulge Using This Awesome Coffee Rule With Shannon McNay Follow Jennifer on Social Follow Jen on Twitter Like Jen on Facebook Subscribe to the Her Money Matters podcast Join Jen’s Facebook group Shownotes: jessicamoorhouse.com/48x
On this episode of the Mo' Money Podcast, I talk with Karen Yap, personal finance blogger from Makin' the Bacon, about how to make more money, quit your unfulfilling job and rock your dream career. Long episode description: Karen Yap has been blogging about personal finance over atMakin’ the Bacon for close to 4 years and she’s learned a lot about making money and switching careers during that time. Although she considers herself to be a bit of a job hopper, what she really is is a woman who doesn’t want to settle and has big aspirations — just like we all do. I can definitely relate to Karen’s story because I myself have switched careers, and when I initially started my personal finance blog under the name Mo’ Money Mo’ Houses, you bet I wanted to make money of it! I can definitely agree with her though that blogging is not an “easy” way to make money (and any blogger who says it is, well, their either full of crap or their doing something fishy). Blogging (not to mention podcasting) is like having a second job. And not only does Karen have a full-time job, which she now loves, on top of blogging she is also a fitness instructor! She even invited me to one of her classes, but I think I might need to work up to that. One of the key takeaways that I hope you get from this podcast episode is that every journey is different when it comes to your career. Karen had what most people would consider the best job you could ask for — a job with the government. It paid well, it was a secure and it came with a great pension. But she wasn’t happy, and she knew she needed to leave to get her happy back. So she started from the ground up again, going to networking events and talking to other women about their careers to get insight into what else she could do. This not only led her to her current job, but it inspired her to start her Makin’ the Bacon blog series, highlighting awesome women rocking their careers. Check out the links below to learn more about Karen, her blog and journey to make her bacon, and her career blog series. I might even be one of the awesome women featured there. Check Out Karen Yap on Social Follow Karen on Twitter Follow Karen on Pinterest Like Karen on Facebook Check Out Karen’s Career Blog Series Makin’ the Bacon with Heather Jones of Viva La Violet Makin’ the Bacon with Rovena Tey Makin’ the Bacon with Jessica Moorhouse Makin’ the Bacon with Lesley Scorgie Join the Conversation If you like listening to my podcast, then you’ll definitely want to join my Money. Life. Balance. Facebook group. This group is all about having a safe space, free of judgement, where we can all talk about money, encourage each other to reach our financial goals, and educate each other in areas we’re not pros in yet. I post a new topic to discuss every Monday, so make sure to join now to add your two cents to this week’s conversation. See you in there! Shownotes: jessicamoorhouse.com/41
Robb Engen from the popular blog Boomer and Echo and I discuss how he started his blog because of his passion for personal finance, and how it evolved into a money-making side hustle that would lead to an early retirement for him and his wife. Long episode description: Robb Engen from the popular personal finance blog Boomer and Echo and I chat in this episode of the Mo’ Money Podcast about how he turned his passion for personal finance into a means of reaching early retirement. I’ve known Robb and his blog for a while, but it wasn’t until I heard him speak at this year’s Canadian Personal Finance Conference that I knew I needed to chat with him on the podcast. Robb started his blog along with his mother Marie Engen, a certified financial planner, in 2010. He read a lot of personal finance blogs and eventually felt compelled to add his two cents with his own blog. What started out as a hobby turned into a second job where he earns thousands of dollars per month on top of his full-time salary. Not only does his blog help provide for his family while his wife stays at home with their two young daughters, but it is also helping them both achieve they’re big goal of retiring early so they can enjoy the fruits of their labour sooner rather than later. On top of blogging, Robb also writes a column for the Toronto Star and offers fee-only advice as a financial advisor on the side. I remember someone asking him at the conference how he manages it all with a young family, and his answer was simple — it’s a lot of work, but he makes the best use of his time. It’s not easy balancing a full-time job with a few extra jobs on the side, but if it eventually leads to more money in the bank and the possibility of early retirement, well, I’d much rather work crazy hard in my 20s and 30s to be financially free in my 40s, 50s and beyond. Props to you Robb! Personal Finance Blogs Mentioned Million Dollar Journey Canadian Finance Blog Money Smarts Blog Follow Robb Engen on Social Robb on Twitter Boomer and Echo on Twitter Boomer and Echo on Facebook Shownotes: jessicamoorhouse.com/36
For my first Mo' Money Podcast episode of 2016, I interview fitness coach and champion bodybuilder Jaclyn Phillips about how she turned her love for fitness into her side hustle and how she saves money when preparing for fitness shows. Long episode description: In this episode, Jaclyn and I discuss how she got into the fitness world and how she eventually turned her love of fitness and competing into a part-time business. For my first Mo’ Money Podcast episode of 2016, I interview my friend, and co-creator of the Rich & Fit 21-Day Challenge, Jaclyn Phillips. Jaclyn is awesome. And yes, I may be biased, but she really is. The reason we first connected was because we are equally passionate about helping others when it comes to finance or fitness. She loves fitness and wants to share everything she’s learned with people who want to improve their health. I love finance and want to share everything I’ve learned with people who want to improve their financial lives. When we met and started talking about what we do outside of work — well, it wasn’t long until we came up with our idea for the Rich & Fit program. In this episode, Jaclyn and I discuss how she got into the fitness world and how she eventually turned her love of fitness and competing into a part-time business. To give you an idea of what she does, here’s a look (she’s the brunette on the left): Yup, she knows fitness. She also does her own hair and make-up for shows to save on money (frugal too!). To learn more about Jaclyn Phillips, I highly suggest you check out her websiteand her Instagram. Her Instagram is seriously my daily motivation to get up and move off the couch. And as another special treat, I found this awesome recipe of her’s for Birthday Cake Protein Waffles with French Vanilla Glaze. I am definitely going to make these this weekend. Shownotes: jessicamoorhouse.com/31
For the first episode of the Mo' Money Podcast, I delve into my upbringing and later years to explain why I got into the personal finance blogging and podcasting world. Long episode description: If you’re a longtime blog reader of mine, you may have always wondered what I sound like. Sure, you can guess by my writing style and tone, but honestly sometimes I feel like I make way more sense talking than writing. And that is a big part of the reason I wanted to launch a personal finance podcast of my very own. I love writing on this blog, but I think to take my personal brand to the next level, I needed to do something new and different. So, with the help of my audio engineer husband (who I interview for episode 2 of my podcast, check it out!), I went out and bought a few microphones, made some cover art for iTunes and started emailing anyone I knew who had a really cool personal finance story. Since I plan on having a new episode for you every Wednesday, finding new guests is going to be a big job for me. So if you know anyone who has a really interesting money story (or that person is you), please email me! For my first episode of the Mo’ Money Podcast, I’ll be giving you a very personal glimpse into how I grew up and how that influenced my relationship with money over the years. For all of future podcast episodes, I’ll also be writing show notes like this one for each episode to include any extra info, links to any websites or past blog posts I mention in the show and some extra goodies too. Show notes: jessicamoorhouse.com/1
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