Libsyn Directory

EP052 The Debt Free Graduate with Murray Baker

Release Date: 10/09/2018

EP332 What Finfluencers Overlook with Co-operators

Young Money with Tracey Bissett

As Financial Literacy Month continues, we're diving into the crucial but often overlooked role of insurance for young Canadians. Today we're joined by Jessica Baker, Executive Vice President of Retail Wealth at Co-operators, a trusted, Canadian-owned company providing insurance and financial services since 1945. Listen in as Jessica explains how insurance isn't just about protecting possessions—it's about safeguarding your financial future. She busts common myths, like the idea that insurance is too expensive or unnecessary for healthy young people, and offers valuable insight that could...

EP331 Financial Literacy Month with FCAC

Young Money with Tracey Bissett

In this Financial Literacy Month special of Young Money, we're joined by Rana Abu-Naameh, Director General of Supervision at the Financial Consumer Agency of Canada (FCAC). With her extensive background in public service and financial oversight, Rana sheds light on how FCAC protects consumer rights and enhances financial literacy across Canada. Listen in as Rana dives into the critical aspects of FCAC’s mandate, focusing particularly on the streamlined consumer complaint handling process. She explains the steps consumers should take if they have grievances with financial products or...

EP330 Small Business Path to Impact with Pouya Zangeneh, Scotiabank

Young Money with Tracey Bissett

As we celebrate Small Business Month in Canada, I'm delighted to speak with Pouya Zangeneh, the Senior Vice President of Small Business Banking at Scotiabank. With over a decade of experience in the financial services industry, Pouya shares his insights from Scotiabank's recent report, "Path to Impact 2024: Navigating the Future Succession and Success in the Digital Era." Listen in as Pouya discusses the trends impacting small businesses, including the imminent 'succession tsunami' where many business owners plan to transition their businesses in the next decade. He explores the importance of...

EP329 Canadian Holiday Spending Outlook with PwC

Young Money with Tracey Bissett

In this episode, I’m joined by Elisa Swern, a national retail and consumer leader and partner at PwC Canada. With over 25 years of experience in the retail and consumer goods sectors, Elisa brings her extensive expertise to discuss the findings of PwC's Canadian Holiday Outlook Survey for 2024. Listen in as Elisa dives into the expected increase in consumer spending this holiday season, despite economic challenges. She also highlights the spending behaviors across different generations and provinces and shares insights into the growing importance of sustainability in consumer choices. You'll...

EP328 More Than A Number with Meridian Credit Union

Young Money with Tracey Bissett

Are you feeling overwhelmed by rising living costs and seeking better financial guidance? In this episode, we sit down with Shawn Kauth, Vice President of Wealth at Meridian Credit Union, who brings nearly three decades of experience in the financial industry. Shawn discusses the results of Meridian's 'More Than a Number' survey, revealing critical perspectives on financial insecurity among Canadians. Listen in as Shawn addresses the concerns different demographics face, including the anxiety experienced by Gen Z and the challenges women face regarding long-term financial futures. You will...

EP327 Student Loan Repayment Explored with NerdWallet Canada

Young Money with Tracey Bissett

Are you or someone you know dealing with student loans or getting ready to navigate the world of repayment? In this episode, I sit down with Clay Jarvis, NerdWallet Canada’s mortgage and real estate expert, to discuss essential strategies for managing student loans and making smart financial decisions. We'll dive into practical advice for students just starting their loan repayments, adjusting payments to fit your financial situation, and what to do if you’re struggling to make payments. Clay also highlights the importance of budgeting and why parents should have financial conversations...

EP326 NerdWallet's Guide to the Costs of Fertility Treatments

Young Money with Tracey Bissett

Have you ever wondered about the true costs of fertility treatment in Canada? In today's episode, we sit down with Shannon Terrell, a lead writer and spokesperson for NerdWallet, to explore the financial realities many Canadians face when seeking fertility treatments. With one in six Canadian couples experiencing infertility, understanding the costs and financial options available is crucial. Shannon shares insights from a guide she developed, offering a comprehensive look at the various methods of fertility treatments and their associated costs. Listen in as we discuss where Canadians can...

EP325 Spotlight on V.I.L. Landscaping founder Charlie Kerrigan

Young Money with Tracey Bissett

In this episode, I’m joined by Charlie Kerrigan, the founder of V.I.L Landscaping and host of The Hard Lessons Podcast. Starting his business in 2016 with just a push mower, Charlie has grown V.I.L Landscaping into a thriving enterprise and aims to become one of the top landscaping companies in Canada. Listen in as Charlie shares his journey, from being a young entrepreneur knocking on doors to running a company with multiple locations and a dedicated team. He emphasizes the importance of surrounding yourself with mentors, the necessity of cash flow management, and building a strong team...

EP324 Advice to My Younger Self with Martha Ibrahim

Young Money with Tracey Bissett

In this episode, I’m joined by Martha Ibrahim, a certified accountant with 13 years of experience in capital markets regulation and a champion of financial inclusion projects in Nigeria. Martha shares her journey and the inspiration behind her book, Things I Wish I Knew Before I Got My First Job, which highlights the seven keys to personal finance, personal growth, and self-leadership. Listen in as she offers invaluable advice on the importance of personal finance, the necessity of multiple streams of income, and the four essential skills everyone should develop. You'll learn about the...

EP323 Financially Supporting Aging Parents

Young Money with Tracey Bissett

As Canadians grapple with the financial and emotional aspects of supporting aging parents, we sit down with Clay Jarvis, a mortgage and real estate expert from NerdWallet Canada. This episode dives into NerdWallet’’s recent aging parent survey, conducted by the Harris Poll, revealing that nearly one-third of Canadians are either assisting or plan to assist their parents financially. Listen in as Clay provides expert advice on initiating conversations about finances with aging parents, addressing sensitive topics such as estate planning and end-of-life care. He emphasizes the importance of...

More Episodes

Murray Baker is the author of The Debt-Free Graduate: How to Survive College or University Without Going Broke. Having sold over 200,000 copies, his book reached #3 on the Toronto Star Bestseller list. As a recognized influencer in the field, he has also been interviewed by a number of media outlets, including The Globe and Mail, The National Post, The Vancouver Sun, The Toronto Star, Canada AM, CBC Newsworld, Breakfast TV, Money Talks and many more. He has worked in financial literacy for over 20 years, writes for the Vancity Good Money Blog and manages Financial Empowerment for Family Service of Greater Vancouver.

Today, Murray joins me to discuss how to take action and debt-preventative measures in small and manageable steps. He shares how pursuing your passion can lead to financial freedom and how to alleviate or prevent student debt. Dipping into his wealth of knowledge, we also get down to the nitty-gritty of student loans, part-time jobs, and financial planning.

“If I can instill one thing… it’s the importance of saving early and the magic of compound earning.” - Murray Baker

This Week on Young Money:

Murray Baker’s current work in financial education and strategic saving initiatives.
Why your financial goals are paramount.
How consumerism influences people, their spending habits and their happiness.
Building a manageable savings plan, no matter your income.
Murray’s financial turning point.
What is compound earnings and how it could positively impact your saving.
Common money mistakes students and graduates make.
How to use goal setting as a spending control measure.

Top Tips for Students To Avoid Debt:

Start looking at how you are going to pay for post-secondary education early.
Look at non-repayable funding options first including 1) part-time/summer jobs 2) loyalty points (HigherEdPoints) and 3) scholarships, grants or bursaries.
Treat government loans as a top-up, not as your primary source of funding.
Research scholarships or bursaries early in grades 9 & 10 so you can learn what skills you may need to demonstrate and can tailor your activities in grades 10, 11 & 12 to acquire or showcase them.
Look into part-time jobs whilst you’re studying.
Hold off on credit cards as soon as you graduate.
Incorporate goal setting into your financial plan.

Top Tips for Graduates Managing Their Student Debt:

Don’t feel hopeless - proactive strategy and goal setting can empower you to take control of your finances.
Start saving early - small amounts add up! No matter your salary, try to save small, manageable amounts.
Track your spending and know where your money is going. Consider budgeting, assessing your cash flow and building a contingency fund.
If you have student debt, avoid taking on other debt including credit cards and car loans for a few years after you graduate.
Have a complete understanding of how much debt you’re in and to whom.
Keep your student loan debt separate from your other debt- use caution when taking on consolidation loans. Remember that student debt interest is a tax deduction on your income tax return and if you are unemployed/underemployed you may qualify for payment relief on your student debt.
Ask for loyalty points for gifts so you can paydown student debt with other people’s money. (HigherEdPoints)

Resources Mentioned:

Connect with Murray Baker:

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