Hello Friends!

Last Saturday I attended the Canadian Personal Finance Conference in Toronto. This year’s theme was all female – women’s financial empowerment, which is totally up my alley! Even cooler, all the speakers were women. It was very inspiring!

While I was there I couldn’t pass up the opportunity to ask some of the smartest people in personal finance for the top tips for Canadians – and I decided to make it into a video for you! I also asked them five of some of the most frequently asked questions that I get from clients and people who attend my workshops.

I hope you enjoy all of the money tips you are about to hear!

And – I’d love to hear from you! What’s the best personal finance advice you’ve received, or words of wisdom you live by? Comment below!

Top Personal Finance Tips

from the Canadian Personal Finance Conference

Keri-Lynn McAllister, Chief Marketing Officer @ Ratehub.ca

Tip: For women in particular, unsubscribe from fashion and beauty newsletters. That’s where they get you!

Lanny Geffen, VP Product Design @ Koho

Tip: Don’t just save. Set a goal, and then achieve that goal!

A note from Lanny: Koho wants to be there to benefit people, and our products will be evolving and amazing new features added continuously with a big update coming next year!

Cailin Phillips, Senior Manager, Prime Residential Mortgages at Equitable Bank

Tip: Knowledge is power! Arm yourself with the right tools, the right resources and don’t be afraid to ask questions.

Beau Humphreys, Personal Finance Coach & Blogger, Host of The Personal Finance Show Podcast

Tip: Whenever you have the chance, save money! Life goes up and down, the times that have you have money are the times you should put more away. Future you who might get fired or want a change will be very happy that you have a little bit to work with.  

Melissa Leong, Money Expert

Tip: Protect your happiness! You never know when bad crap might be around the corner. Do what you can to make sure you bulletproof your happiness. Have an emergency fund, look into insurance, and plan for worst-case scenarios.

Leanna Haakons, author of Young, Fun and Financially Free & President at Black Hawk Financial Inc.

Tip: Start spending consciously! Figure out what your true priorities and values are, how you want your lifestyle to look now and ten years from now, and start thinking about ways you can you can optimize your spending to make sure you’re meeting your values and priorities.

Megan Nobrega, Partnership Manager at CARROT Rewards

Tip: Don’t be afraid to ask questions! It’s okay not to know. It’s important to understand what you need to do to be successful.

Darin Diehl, Director, Content and Shared Services at Tangerine (Forward Thinking Blog)

Tip: Live beneath your means. Be a savvy spender and saver. Make mindful decisions about what you’re going to spend money on versus where you’re going to save.

Cato Pastoll, Co-founder & CEO at Lending Loop

Tip: Invest in things that you understand! If you’re offered an investment that isn’t clear to you, stay away from it. Invest in things that are transparent and easy to understand.

Top Five Most Frequently Asked Questions

Do you prefer to spend with cash or credit?

Cash – 33%

Credit – 66% (To earn cash back! And always pay the balance on time!)

Do you prefer to invest in individual stocks or ETFs and index funds?

Individual Stocks – 33%

ETFs and Index Funds – 33%

Both – 33%

Would you prioritize saving for the future or paying off debt?

Saving – 33%

Debt repayment – 56%

A mix – 11%

What’s your favourite personal finance book?

The Wealthy Barber & The Wealthy Barber Returns by Dave Chilton (3 votes)

Rich Dad, Poor Dad by Robert Kiyosaki

Wealthing Like Rabbits by Robert Brown

Young, Fun and Financially Free by Leanna Haakons

Moolala (Why smart people do dumb things with their money) by Bruce Sellery

The Money Advisor by Bruce Cohen

The Big Short by Michael Lewis

What’s your favourite money related app?

Mint (two votes!)

Koho

EQ Bank’s digital app

Flip

InvestTalk (podcast)

Carrot Rewards

Tangerine

Lending Loop

Before you go – I’ve launched a brand new service offering:  

The Wellth Checkup!

It’s the perfect introductory offer for someone who’d like a “health checkup” for their finances. Click here to learn more!

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