loader from loading.io

Cait Flanders | Urge To Splurge? How a year of less may be best for your finances

Real Money Talk - A fresh take on personal finance

Release Date: 10/29/2021

Andrew Hallam On Finding Balance with Your Money for a Successful Life show art Andrew Hallam On Finding Balance with Your Money for a Successful Life

Real Money Talk - A fresh take on personal finance

Millionaire Teacher, Andrew Hallam, sits down with Jon Vassallo, VP of Partnerships at Ratehub.ca,  to discuss Andrew’s new book: Balance: How to Invest and Spend for Happiness, Health, and Wealth. The two discuss how to live a better life (money isn’t everything), how to align spending with values, and resolving anxiety around spending before diving into investments and socially responsible investing.    [0:00] intro[3:22] Money mistake or makeup - cat litter and ponzi schemes [9:12] What compelled you to write your new book, “Balance: How to Invest and Spend for...

info_outline
Buying a House w Jessica Moorhouse | Millennial Money Expert show art Buying a House w Jessica Moorhouse | Millennial Money Expert

Real Money Talk - A fresh take on personal finance

Are you planning on buying a house in 2022? Is it a New Year's Resolution? Here's everything you need to know about buying a home from people that did it in 2021.  Jessica Moorhouse is an award winning blogger, podcaster, and an accredited financial counsellor in Canada. Ratehub’s Director of Insurance, Matt Hands, sat down with Jessica to discuss the home buying process. Jessica sold her townhouse and bought a new house in Toronto this year in the wild and crazy market. Matt decided to leave Toronto after buying his house in London, Ontario.  The two discuss the stress of buying a...

info_outline
Home (insurance) For The Holidays w Morgan Roberts show art Home (insurance) For The Holidays w Morgan Roberts

Real Money Talk - A fresh take on personal finance

From the BC floods to the Wet Bandits flooding the basements in Home Alone—how does your home insurance work with natural disasters and climate change? What risks does Christmas pose to your house? What happens if your gifts get stolen? What do you do in case of a break-in? Do you really have to shovel your sidewalk? Do more fires happen at Christmas? What about hosting parties and serving alcohol? Director of Sales at RH Insurance (), Morgan Roberts, sits down with Director of Insurance at Ratehub.ca (), Matt Hands to answer all kinds of home insurance questions you never thought to ask...

info_outline
Get Lit: 10 Steps To Financial Security & Wellness show art Get Lit: 10 Steps To Financial Security & Wellness

Real Money Talk - A fresh take on personal finance

Ramit Sethi, author of “ I will teach you to be rich” recently tweeted out: 3 signs someone is financially sophisticated.  They know their numbers cold: Savings rates, asset allocation, debt payoff date, goals.  Creative, even extravagant spending on the things they love. Not penny pinchers. They have a point of view.  They actively work on their money psychology.    If you don’t know these numbers, you worry about spending (whether it’s too much or too little), and you avoid living your life because, ya know, money, well - I hope this short podcast will...

info_outline
Cait Flanders | Urge To Splurge? How a year of less may be best for your finances show art Cait Flanders | Urge To Splurge? How a year of less may be best for your finances

Real Money Talk - A fresh take on personal finance

With vaccines rolling out for 5-11-year-olds, we may be nearing the end of the COVID pandemic.  It’s been a time of juxtapositions. The burnout of finally being able to work from home, social distancing with your closest friends and family, and the great resignation from a tenured job – change has been the only constant in our stay in place lives.  And now, the urge to splurge is on, treat yo’self. We’re tired of the puzzles, the paint by numbers, we want to revenge spend. According to a Bank of Canada survey, many Canadians expect to spend a lot more. Sure, almost 27% plan...

info_outline
How to get cheap car insurance show art How to get cheap car insurance

Real Money Talk - A fresh take on personal finance

Not all car insurance is the same — will vary by company, driver, car, and city. You need to research your situation to make sure you have the right coverage for yourself. We put together a list of how to get cheap car insurance now and in the future, whether you’re mid-policy or shopping around for new quotes this year. What is the average price of car insurance in Canada? BC - $1,832 Ontario - $1,528 Alberta - $1,316 Saskatchewan - $1,235 Newfoundland - $1,168 Manitoba - $1,140 Nova Scotia - $$891 New Brunswick - $867 Prince Edward Island - $816  Quebec - $717 *Source:...

info_outline
Pt. 2: How To Buy Stocks and ETFs on Questrade with Scarlett Swain, Director of investment products show art Pt. 2: How To Buy Stocks and ETFs on Questrade with Scarlett Swain, Director of investment products

Real Money Talk - A fresh take on personal finance

Part 2 of 2  [0:00 - 1:36] Intro [1:37 - 4:10] What is a stock? What is an ETF?  [4:11 - 4:51] How much is an ETF? What is MER? [4:52 - 5:49] What is a mutual fund? [5:50 - 6:15] What are underlying holdings? [6:16 - 7:00] What is a portfolio?  [7:01 - 8:51] What is a globally diversified portfolio? What is asset allocation? [8:52 - 9:55] What stocks or ETFs should I buy?  [9:56 - 11:15] How much money should I be investing? What percentage of my income should I be investing? [11:16 - 11:57] Active investing vs. passive investing [11:58 - 12:49] What is passive investing?...

info_outline
Pt.1: Scared To Invest? Questrade Walkthrough with Scarlett Swain, Director of Investment Products show art Pt.1: Scared To Invest? Questrade Walkthrough with Scarlett Swain, Director of Investment Products

Real Money Talk - A fresh take on personal finance

Part 1 of 2 This is a Questrade Walkthrough for their sign-up process to answer any and all questions you encounter along the way. If you're scared to invest, we answer all your questions to settle your fears.  Senior content strategist, Tyler Wade sits down with Questrade's director of investment products, Scarlett Swain to walk you through getting an account with Questrade. He asks all the questions you may have about the sign-up and registration process so you can start investing and buying stocks and ETFs on QUestrade's brand new, built-from-the-ground-up platform released Monday,...

info_outline
5 Tips for Mortgage Renewal Time show art 5 Tips for Mortgage Renewal Time

Real Money Talk - A fresh take on personal finance

Unless you have the cash to pay off your balance in your first mortgage term, you’re likely part of the 36.3% of Canadian homeowners who carry a mortgage and must renew it at the end of their term. 1. Consider your financial goals 2. Start to shop around early 3. Ask for a better mortgage rate 4. Get a rate hold 5. Give yourself time to switch lenders You can compare rates at Visit this blog:

info_outline
Wil Reynolds - The man who turned down $50 million  show art Wil Reynolds - The man who turned down $50 million

Real Money Talk - A fresh take on personal finance

Wil Reynolds () turned down $50 million dollars to buy his company. Why he did it is one of the most valuable lessons of personal finance you will ever hear.    He had his number to walk away. He had the opportunity at life-changing money. He wrote  “My house is enough, my cars are enough, my kids’ private school is enough, my vacation fund is enough. I’ve seen enough of the world. My rainy day fund is enough, my take my parents on vacation fund is enough, my buy a small house for my in-laws to move near their grandkids fund is enough. There is no more “Life-changing...

info_outline
 
More Episodes

With vaccines rolling out for 5-11-year-olds, we may be nearing the end of the COVID pandemic. 

It’s been a time of juxtapositions. The burnout of finally being able to work from home, social distancing with your closest friends and family, and the great resignation from a tenured job – change has been the only constant in our stay in place lives. 

And now, the urge to splurge is on, treat yo’self. We’re tired of the puzzles, the paint by numbers, we want to revenge spend. According to a Bank of Canada survey, many Canadians expect to spend a lot more. Sure, almost 27% plan to spend more at restaurants, going to the movies, and other social get-togethers. And It’s kind of obvious another 21.5% of Canadians plan to spend more on travel. And why not? The average household savings rate went up to 13.10%, up from the 59-year average of 7.78% 

 

But, with the cost of inflation, from the food we buy to the gas to heat our homes going up 5-20% - how do we stay in control while living the life we so desperately want?

 

Today on the show, I interview Cait Flanders. She used to splurge. She partied too much, she was maxed out financially, and, eventually turned herself into her own test subject to find her true self 

 

She paid off 30k in debt, became self employed, and is now living a life true to herself. She documented her unravelling and subsequent rebuild in her best-selling book, The Year of Less. Then, in her next book,  The Joy of Opting Out she helps you walk the same path, or trail because, “doing the opposite of what everyone around is doing is difficult” as she says. 

[2:25] Money mistake or makeup

[4:10] Are we immune to what the media says?

[5:51] Where should we start with new money habits? What was your process for spending less?

[9:55] What needs to break before you start? 

[12:00] Actionable tips to get started on yourself

[18:11] Setting rules & challenging yourself

[21:42] How to make the big decisions easier (paying off debt, saving for a home, preparing to quit)

[26:03] How do you define your values? 

[30:53] What is the joy of opting out? How is it different from the Joy of missing out?

[35:43] Change travels with loss. How has embracing your changes enriched your life?

[39:21] How do we know we're walking the right path? How do we know when to continue with our new challenge?

[45:04] How do you stay on track and focused on your goal? 

[49:20] Do you have regrets? 

[52:49] Rapid fire questions

[1:04:23] Outro