Afleveringen
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Welcome to "Strictly Money: Weekly Insights," the podcast that brings you expert advice and actionable tips to take your financial well-being to the next level.
In this episode, Iām diving into the world of employer-sponsored pension plans in Canada.
Whether you're just starting your career or approaching retirement, understanding your pension options can make a world of difference in your financial future.
Join me as I discuss how to make the most of your pension plan and the mistakes so many employees make. I break down the key differences between a Defined Contribution Pension Plans (DCPP) and a Defined Benefit Pension Plans (DBPP), share strategies to maximize your wealth, and what you can and canāt expect from your employer about your pension plan so you avoid common pitfalls.
Tune in, subscribe, and share this episode with your colleagues and friends. Let's build a financially secure future together!
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Key moments:
01:00 - Pension Planning: Understanding Retirement Benefits
01:24 - Pension Plan Types: Defined Contribution vs. Defined Benefit
02:30 - Retirement Fund Strategies: Maximizing Contributions
04:26 - Investment Insights: Making Informed Choices for Retirement
06:40 - Financial Security: Building a Solid Retirement Foundation
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode, I discuss the pressing issue of housing in Canada with mortgage broker and thought leader Ron Butler.
Despite the constant dialogue around making housing more affordable and increasing supply, progress remains sluggish. Is it all just smoke and mirrors? We explore the complexities behind the scenes, from mortgage indebtedness to the policies shaping the market. Weāre excited to welcome Ron, the voice behind the popular podcast "Angry Mortgage," to shed light on these critical issues. Whether you're a homeowner, aspiring buyer, or simply interested in real estate, this episode offers invaluable insights. Tune in and stay informed on the real state of housing in Canada.
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TIMESTAMP:
00:00 Ontario and BC housing market challenges.
05:35 Economists predict rate cuts, landlord rights concerns.
07:06 Municipalities cracking down on Airbnb and short-term rentals.
10:48 Canadian mortgage rates rose sharply and adjusted.
14:24 One-year rate not securitized; add 150 basis points.
18:02 Low voter turnout, property tax, immigration concerns.
20:42 City governments overspend and need to change.
24:12 Land development benefits developers over local residents.
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GUEST LINKS & RESOURCES:
Get in touch with Ron
Subscribe to Ronās Angry Mortgage Podcast
LEARN MORE ABOUT BMO ETFS (SPONSOR)
---------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Zijn er afleveringen die ontbreken?
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Welcome to this weekās episode of Weekly Insights, where we delve into a topic that might make many feel uneasy but is crucial for responsible financial planning ā creating a death file.
Discussing and planning for death can be uncomfortable, but it's an inevitable reality we all must face.
In this episode, I cover why preparing a death file, or an end-of-life planning checklist, is an essential act of love and responsibility.
Youāll learn how to compile essential documents, instructions, and information that will help your family manage your affairs smoothly when youāre gone. Remember, preparing for the inevitable is not just a necessity; itās a profound act of care for those you leave behind.
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Key moments:
00:49 - Facing the Inevitable: The Importance of a Death File
02:41 - Learning from Mistakes: The Consequences of Not Having a Will
04:15 - Documenting Your Legacy: Essentials for a Comprehensive Death File
05:12 - Financial Preparedness: Organizing Insurance Policies and Financial Accounts
07:19 - Security Measures: Safeguarding Passwords in Your Death File
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Join us on Strictly Money as we tackle the pressing issue of the retirement crisis with expert insights from Jeff Thorsteinson, Vice President of Wealth Distribution at HomeEquity Bank and is a 25 year veteran of the wealth management industry.
In this episode, we explore the innovative solution of CHIP Reverse Mortgages, designed to empower seniors to age comfortably at home while accessing much-needed cash.
Discover key strategies and considerations for seniors facing retirement challenges, including insights on financial planning, cash flow management, and maintaining independence.
Jeff provides invaluable expertise on how CHIP Reverse Mortgages can transform retirement planning, offering a practical solution in addressing the retirement crisis and enhancing financial security for seniors.
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TIMESTAMP:
00:00 Increased interest in chip for retirement planning.
03:52 Financial planning tenet is to have emergency fund.
07:17 Pensions declining, home equity now predominant.
11:11 Rethinking retirement: Financial and lifestyle changes.
14:47 Reverse mortgage explained.
19:07 Interest accrues on three equity access options.
22:33 Using home equity for early inheritance strategy.
24:05 Consolidate debts, continue paying, declining interest penalty.
27:45 Approach investing based on needs and assets.
32:16 Advice on financial boxes.
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GUEST LINKS & RESOURCES:
More about CHIP Reverse Mortgages
LEARN MORE ABOUT BMO ETFS (SPONSOR)
-------------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Welcome to this weekās Strictly Money Weekly Insights, where we dive deep into the most pressing financial questions of our time.
Have you ever wondered how much money you'll need in retirement? If you guessed that this is the number one question on everyone's mind, you're absolutely right.
Join me, Saij, as I unravel the mysteries of retirement savings and financial planning.
There are many considerations that go into determining your retirement nest egg. From lifestyle expectations to healthcare costs and inflation, and so much more.
But there's one almost certain way to gauge your retirement needs accurately. Iāll tell you what that is.
And for those of you who feel like you're lagging behind on your retirement savings journey, I share three tips to help you catch up and secure your financial future.
Tune in weekly for insights that will empower you to make smarter money decisions, only on Strictly Money.
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Key moments:
00:00 Retirement savings depend on individual circumstances.
01:03 Planning for retirement involves various scenarios.
02:05 Early investment is crucial for retirement wealth.
03:06 Tax shelters optimize retirement savings growth.
04:07 Extra income can enhance retirement readiness.
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Philip Petursson, Chief Investment Strategist at IG Wealth Management is back with his economic and market outlook.
We unravel the S&P500 performance and the "sell in May and go away" investment strategy, uncovering what this means for investors.
We also delve into the pressing topic of rate cuts by the Federal Reserve and Bank of Canada, and when these pivotal decisions might occur. Plus, we explore sectors that are still cheap and how "magnificent 7 stocks" are influencing market dynamics.
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TIMESTAMP:
00:00 No advantage in selling stocks based on trends.
05:15 Fed cautious about raising rates before election.
09:19 Canadian economy faces growth and productivity challenges.
10:34 Interest rate cuts weaken Canadian dollar, impact inflation.
13:31 Rate cut expectations already priced in market.
18:30 Market performance displays healthy diversity and breadth.
20:12 AI and machine learning are the latest trends.
23:27 Optimistic about global economy for 2023-2024.
27:12 Long term view, manage risk, ignore volatility.
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GUEST LINKS & RESOURCES:
The Living Market Podcast Hosted By Philip Petursson: https://www.ig.ca/en/insights/podcast
LEARN MORE ABOUT BMO ETFS (SPONSOR):
https://www.bmo.com/main/personal/investments/etf/
----------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Welcome to my weekly insights segment on Strictly Money, where I distill timeless financial wisdom shared by my esteemed guests.
We uncover the essential strategies for saving, investing, and debt management that stand the test of time.
This podcast shares some of the best financial advice from legendary experts Joe Canavan, Jason Heath, Alfred Lee, Cathy Wood, Geoff Turner and Rebecca Oakes.
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Key moments:
00:00:01 Introduction and Importance of Personal Questions in Finance
00:01:31 Joe Canavan's Advice on Paying Yourself First
00:02:50 Jason Heath on the Importance of Saving Habits
00:04:06 Cathie Wood on Long-Term Investment Perspective
00:05:51 Geoffrey Turner and Rebecca Oakes on Managing Debt and Credit
-----------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode, we embark on the poignant journey of navigating aging parents. This evolution requires heartfelt conversations about health, caregiving, and the practicalities of downsizing.
Our special guest, Laura Tamblyn Watts, joins us to illuminate these vital discussions. Laura is not only the author of the newly released book "Letās Talk About Aging Parents," but she also serves as the CEO of CanAge, Canada's leading seniors advocacy organization. With her wealth of experience and expertise, Laura helps us navigate the often challenging terrain of eldercare and family support.
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TIMESTAMP:
00:00 Supporting loved ones through various life stages.
04:53 Aging in place and parenting our parents.
06:57 Avoid bright lights while driving at night.
10:05 "Prepare for emergencies and stay informed."
13:30 Use I statements, not submissive compliance, especially for women.
18:39 Consider aging in place, Ontario waitlist.
20:19 Choose representation wisely for all decision-making.
23:44 Choosing the right trustee is critically important.
26:00 Authorize responsible management of online accounts.
32:04 Estate planning, trust, tax, and family discussion.
33:24 Focus on positive future plans in conversations.
36:51 Information overload leads to financial decision confusion.
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GUEST LINKS & RESOURCES:
CanAge: https://www.canage.ca
LEARN MORE ABOUT BMO ETFS (SPONSOR):
https://www.bmo.com/main/personal/investments/etf/
-----------------------------------------------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Welcome to Weekly Insights, where I dive into the world of personal finance with a critical eye on the noise that surrounds us.
Iāll unravel the complexities of financial chatter that often clouds our judgment and share practical tips and strategies to navigate through market hype, media sensationalism, and societal pressures that can impact our financial wellbeing.
Whether you're a seasoned investor or just starting out on your financial journey, getting clarity amidst the noise will empower you to make informed decisions and stay focused on your financial goals.
Key moments:
00:00:01: Navigating Financial Noise: How to Make Smart Money Moves
00:02:14: The Market Hype Dilemma: Fear, Greed, and Sensible Investing
00:03:46: Cutting Through the Noise: Building a Solid Financial Plan
00:05:08: Mastering Financial Clarity: Mindfulness in Money Management
00:06:01: Pause, Breathe, Reflect: Making Emotionally Smart Financial Choices
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode, we delve into the surprising reality of Canada's income and wealth gap compared to its U.S. counterpart. Despite common perceptions, recent revelations from the report "Billionaire Blindspot" challenge the accuracy of data collected by Statistics Canada, shedding light on a previously overlooked aspect of economic disparity.
Join me as Dan Skilleter, the Director of Policy at Social Capital Partners and author of the report, shares insights derived from his extensive experience in policy advising. Gain a deeper understanding of the nuances shaping Canada's economic landscape and the implications for its citizens.
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TIMESTAMP:
00:00 Wealth inequality in Canada similar to US.
04:05 Statistics Canada surveys Canadians every few years.
06:33 US survey has better, more accurate data.
10:38 Popular measurement of income inequality in countries.
14:46 Capital gains tax rate increased to 66%.
19:09 Political argument with merit, but potential downside.
22:59 Challenges in accessing wealth data in Canada.
24:39 We sent data to the government strategically.
27:26 Questioning two-week pay cycle, suggesting daily pay.
--------------------------
GUEST LINKS & RESOURCES:
Link to Billionaire Blindspot report: https://www.socialcapitalpartners.ca/scpreports
LEARN MORE ABOUT BMO ETFS (SPONSOR):
https://www.bmo.com/main/personal/investments/etf/
-------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Why do so many couples avoid talking about money when itās essential in order to build and protect oneās wealth?
Join me as I explore why couples need to discuss their finances and, more importantly, how to navigate these conversations effectively.
Research consistently highlights that couples who openly communicate about money are happier and more fulfilled in their relationships. However, despite these findings, many couples still find it challenging and awkward to broach the subject.
So if thatās you - youāre not alone. Whether you're newlyweds, longtime partners, or somewhere in between, Iāll share my advice on how to achieving financial harmony and strengthening your relationship along the way.
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Key moments:
00:00 - 03:37: Unveiling the Taboo: Why Money Talk with Your Partner Matters
03:38 - 05:59: Money Personalities: Understanding Your Beliefs and Habits
06:00 - 06:59: Financial Goals: Crafting a Plan for Shared Dreams
07:00 - 07:56: Scheduling Success: The Power of Regular Money Talks
07:57 - 08:49: Breaking the Silence: Strengthening Bonds for Financial Health
---------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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Welcome to this special episode of Strictly Money, where we dissect the aftermath of Canada's federal budget announcement.
Jake Fuss of the Fraser Institute joins Saijal Patel as they unravel the implications of Finance Minister Chrystia Freeland's budget, specifically crafted to resonate with millennials and Gen Z amidst the pressing issue of housing affordability. They discuss the ballooning debt, new capital gains tax rules and whether Canada is headed in the right or wrong direction when it comes to personal and economic prosperity.
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ā°Timestamps:
00:00 - 03:37: Budget Woes: Unsustainable Tax and Spending
03:38 - 08:15: Canada's Lagging Living Standards and Fiscal Responsibilities
08:16 - 11:21: Government's Debt Dilemma: $54 Billion Spending Surge
11:22 - 16:03: Tax Hike Fallout: Discouraging Private Investment
16:04 - 18:42: Housing Policy Pitfalls: Price Rise Concerns
18:43 - 20:59: Housing Crisis: Limits of Withdrawal Increase
21:00 - 23:09: Prioritizing Tax Competitiveness and Productivity
23:10 - 25:09: Advocating for Early Financial Literacy Education
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GUEST LINKS & RESOURCES:
Jakeās Blog: https://fraserinstitute.org/blogs/federal-budgets-scale-of-spending-and-debt-reveal-a-government-lacking-self-control
LEARN MORE ABOUT BMO ETFS (SPONSOR):
https://www.bmo.com/main/personal/investments/etf/
---------------------------------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode, Iām tackling the commonly used term "financial literacy" and why it might be leading us astray.
There are limitations of traditional financial literacy and itās why so many individuals struggle with managing their finances despite possessing basic financial knowledge.
The correct approach is a concept called financial capabilityāa comprehensive framework that goes beyond mere literacy to empower individuals with the skills, attitudes, and behaviours necessary for long-term financial well-being.
Whether you're a seasoned investor or just starting your financial journey, this episode will equip you with the tools and mindset needed to thrive in today's complex financial landscape.
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Key moments:
00:00 - 02:06: Rethinking Financial Education: Beyond Literacy
02:07 - 04:49: Financial Capability: Bridging Knowledge and Action
04:50 - 06:23: Transforming Theory into Financial Success
06:24 - 07:42: Empowering Financial Fluency for Collective Prosperity
07:43 - 08:21: Join the Movement: Building Financial Capability
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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As the tax filing deadline approaches, host Saijal Patel is joined by seasoned tax expert Brian Quinlan to provide last-minute filers and proactive planners alike with essential insights to optimize savings and minimize tax liabilities.
From new regulations to timeless strategies, we cover everything you need to know to make the most of your finances in 2024 and beyond.
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Timestamps:
00:00 - 03:49: Deadline Alert: Last-Minute Tax Tips for Procrastinators
03:49 - 07:12: Insights into Evolving Tax Filing
07:12 - 11:19: Maximizing Benefits and Refunds
11:19 - 13:32: Utilizing CRA Website and Newsletters
13:32 - 17:42: Tax Savings Through Spousal Investment
17:42 - 22:34: Remote Work Impact: Changes in Home Office Deductions
22:34 - 25:51: Prospects for Budget Passage by Year's End
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GUEST LINKS & RESOURCES:
Get in touch with Brian:
https://allayllp.ca/about-us/our-team/brian-quinlan/
LEARN MORE ABOUT BMO ETFS (SPONSOR):
https://www.bmo.com/main/personal/investments/etf/
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate who runs Saij Elle/Saij Wealth Consulting Inc dedicated to help women build financial independence. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
-
Tune in to this episode as I uncover the 4 key investing mistakes that could be holding you back from achieving financial freedom.
Join me as I discuss why investing is not as risky as you may think and how to approach risk the right way when thinking about your investment strategy. Plus for all you FOMOs, Iāll share why time and patience work for you rather than against you.
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Key moments:
00:00 - 01:05 - Financial Wisdom Unlocked: Insights
01:06 - 05:55 - Avoid Costly Investment Blunders: Guide
05:56 - 09:30 - Embrace Risk for Wealth: Secret Revealed
09:31 - 12:44 - Market Mastery: Timing and Diversification Tips
12:45 - 13:34 - Secure Your Future: Expert Investment Advice
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode of Strictly Money, host Saijal Patel and Ratehub.caās Natasha Macmillan discuss a recent report comparing banking fees in Canada to those in the U.K. and Australia.
Discover the startling discrepancies in fees for basic banking services and explore how they impact the everyday consumer. From monthly account fees to non-sufficient funds charges, learn why Canadians are paying more and what solutions might exist to alleviate the burden.
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ā°Timestamps:
00:00 - 03:15: Introduction to banking fees in Canada
03:15 - 06:12: Truths about Monthly fees and minimum balances
06:12 - 09:27: How ATM cash withdrawal fees work
09:27 - 12:44: Factors contributing to high fees in Canada
12:44 - 15:54: Government initiatives vs other countries
15:54 - 18:57: Bundling banking products
18:57 - 21:56: What is Open Banking and how does it work
21:56 - 27:03: Importance of credit card choice
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GUEST LINKS & RESOURCES:
https://www.ratehub.ca
More about open banking
LEARN MORE ABOUT BMO ETFS (SPONSOR)
-------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
-
Welcome to the latest Weekly Insight!
In this episode, I dig into a crucial but often misunderstood aspect of personal finance: aligning spending habits with individual values. Join me as I unravel the misconceptions surrounding spending habits that are stopping millions of people from reaching their financial goals.
Iāve give you research-backed advice so you regain control over your finances, wipe away burdening debt, and be authentically happier with your purchases.
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Key moments:
00:47 - 02:54: Aligning Spending with Values: Overcoming Regrettable Purchases
03:30 - 05:19: Understanding Emotional vs. Rational Decision-Making
06:03 - 07:45: The Importance of Aligning Spending with Values
08:25 - 09:42: Practical Exercise: Evaluating Spending Habits
10:18 - 12:00: Actionable Steps for Mindful Spending
-------------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
-
In this episode, we unpack the imminent trillion-dollar wealth transfer unfolding, with women, GenX, and Millennials set to benefit.
However, the lack of preparedness looms large. Estate plans are a mess, poor financial literacy means the inheritance will not be managed well, and families are not having important money conversation.
This is an episode you wonāt want to miss as we dive into essential conversations and strategies to navigate this wealth transition successfully. My guest, Thuy Lam, a Certified Financial Planner & Money Coach from Objective Financial Partners, sheds light on crucial insights and actionable advice.
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ā°Timestamps:
00:00 - 05:40 Wealth transfer benefits millennials.
05:45 - 07:50 Immigrant family from Vietnam, taught savings early.
07:55 - 11:40 Parents fear passing on financial insecurity to kids.
11:43 - 16:00 Wealth comes with concerns for parents and children.
16:04 - 17:10 Improving diversity in hiring and financial education.
17:14 - 20:10 Executives need to address emotions and fears.
20:17 - 25:40 Managing complex estates requires careful planning and communication.
25:44 - 27:40 Differences between Money Coach and Financial Planner.
27:45- 28:40 Consider balancing paying off debt with investing.
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GUEST LINKS & RESOURCES:
Contact Thuy
LEARN MORE ABOUT BMO ETFS (SPONSOR)
----------------------------------------------------------------------------------
Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
-
In this Strictly Money: Weekly Insights, we go deep into the psychology behind our financial decisions and why many of us struggle to prioritize our financial health and well-being.
I share personal insights and reflections on pivotal conversations I've had with others and myself. From confronting fears and shame to embracing the journey towards financial literacy, I discuss the emotional barriers that hinder our path to financial freedom.
If you find yourself drowning in debt, battling shopping addictions, or hesitating to save for retirement, and if you want discover the transformative power of facing discomfort for the promise of long-term security and freedom, this podcast is for you.
-----------------------
Key moments:
01:00 - 2:40 Hard truths: Is Financial Health a Priority for you?
03:01 - 04:00 Taking Care of your Finances is Like Going to the Gym
04:06 - 07:05 How Financial Fear works and how to Overcome it
07:28 - 09:08 Putting in the Work is Always Rewarding at the end
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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In this episode, we delve into the pressing issue of the debt crisis gripping Canada. With consumer debt soaring to unprecedented levels, the financial strain on Canadians has become undeniable.
Credit card and mortgage delinquencies are up, especially in Ontario and B.C. where home prices are exceptionally high.
Rebecca Oakes, Vice-President of Data & Analytics at Equifax Canada, joins me as we uncover the root causes behind this alarming trend and explore potential avenues for relief.
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ā°Timestamps:
00:00 - 05:00 A deep dive into the debt crisis in Canada
05:06 - 07:00 Mortgage prioritized over credit cards with high interest
07:00 - 12:00 Immigrants rely on credit for essentials.
12:05 - 14:00 Credit score impacts mortgage rates and offers.
14:16 - 18: 00 Credit score predicts payment behavior, rebuildable. Utilization matters.
18:01 - 19:00 Check credit report more than once yearly.
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GUEST LINKS & RESOURCES:
https://www.consumer.equifax.ca/personal/
LEARN MORE ABOUT BMO ETFS (SPONSOR)
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Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.
Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/
Follow on X: https://twitter.com/strictlymoneytv
Get in touch: https://saijelle.com/contact-us/
Join Saij Elleās FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/
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