MISS FINDEPENDENT

MISS FINDEPENDENT

By GloriaBusinessInvesting
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MISS FINDEPENDENT episodes

  • 07: Just say NO to bank fees & funding an emergency

    On the seventh episode of MI$$ FINDEPENDENT, Gloria wraps up Season 1. She is joined by her friend Vickie, they discuss emergency funds, avoiding bank fees and short to mid term investing for those financial goals. We will be talking about what an emergency fund is, how to set one up, different types of bank accounts, how to find the right bank account for you, as well as investing for short to medium term and some safe places to put your money.

    Homework

    Task 1: Set up and optimize your emergency fund
    Task 2: Get rid of those pesky monthly bank account fees
    Task 3: Consider opening a high interest savings account to save for your short term financial goals

    Links/Sources

    Canadian Financial Capability Survey 2019 - https://www.canada.ca/en/financial-consumer-agency/programs/research/canadian-financial-capability-survey-2019.html
    Gov't of Canada bank account tool - https://itools-ioutils.fcac-acfc.gc.ca/ACT-OCC/SearchFilter-eng.aspx
    High interest savings accounts - https://www.highinterestsavings.ca/chart/
    Personal income spending flow chart - https://i.imgur.com/zlGnuDO.png
    Canadian Banking Basics from the Canadian Bankers Association - https://bankingquestions.cba.ca/therightbankaccountforyou
    CDIC How deposit insurance works - https://www.cdic.ca/your-coverage/how-deposit-insurance-works/

    Sign up for no-fee banking with Tangerine or EQ using my referral code!

    Tangerine - new accounts get 2.5% interest (first 5 months), use my Orange key: 40411403S1

    https://tangerine.ca

    EQ Bank - all accounts get 1.7% interest:

    https://join.eqbank.ca?code=GLORIA1867

    Thanks so much for tuning in! Catch you on season 2.

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    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    22 min
  • 06: TFSA, RRSP, OMG, ROFL, SOS?

    On the sixth episode of MI$$ FINDEPENDENT, Gloria is joined by her friend Lucy, they discuss all these fun acronyms - tax-free savings accounts (TFSAs), registered retirement savings plans (RRSPs) and non-registered accounts - what they are, what their benefits are, what to invest in them, contribution limits and when to use each. One thing I wanted to mention that we didn't talk about is employer-matched retirement savings. If your employer will match your RRSP contribution, definitely sign up - it's free money!!

    Homework

    Task 1: Determine whether you're in the financial position to invest right now
    Task 2: Open up that TFSA if you haven't already! Determine whether now is a good time for you to open an RRSP based on your current tax bracket and earning potential
    Task 3: Check your TFSA and RRSP contribution limits and contribute what you can!

    Links/Sources

    2016 Canadian Census data on registered accounts - https://www12.statcan.gc.ca/census-recensement/2016/as-sa/98-200-x/2016013/98-200-x2016013-eng.cfm
    2019 RBC Study - https://www.ipsos.com/en-ca/news-polls/For-First-Time-Ever-More-Canadians-Have-TFSA-than-RRSP

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    25 min
  • 05: Debt and credit score myths BUSTED

    On the fifth episode of MI$$ FINDEPENDENT, Gloria is joined by her friend Albert, they discuss debt and credit scores - different kinds of debt, strategies to pay them off, what a credit score is, how to figure it out and factors that affect your credit score and why it’s important.

    Homework

    Task 1: If you have debt, create a repayment plan by listing our all of your debt from largest to smallest (sum or interest rate). If you need help, credit counseling is available: https://www.canada.ca/en/financial-consumer-agency/services/debt/debt-help.html
    Task 2: Find out your credit score and determine whether you need to take steps to improve it

    Links

    Where to check your credit score:
    Borrowell - https://borrowell.com/
    Credit Karma - https://www.creditkarma.ca/
    Mogo - https://www.mogo.ca/free-credit-score

    Sources:

    Gov't of Canada Financial Consumer Agency Debt Free Plan - https://www.canada.ca/en/financial-consumer-agency/services/debt/plan-debt-free.html
    Gov't of Canada Financial Consumer Agency Credit Score Info - https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/credit/credit-5/3.html
    Common Credit Score Myths - https://bankruptcycanada.com/dealing-with-debt/common-credit-score-myths/

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    23 min
  • 04: The B Word (Budgets)

    On the fourth episode of MI$$ FINDEPENDENT, Gloria is joined by her friend Martin, they discuss budgeting - what a budget is, tools to help you budget, our expense tracking in the last month and what we learned from them, the social aspect of saving, habit creation for budgeting, and how to make budgeting not feel so restrictive.

    Homework

    Task 1: Calculate and categorize your expenses for the last 3 months (or maybe 2019 to get an accurate pre-COVID picture)
    Task 2: Create a spending plan

    Links

    Canadian Financial Capability Survey Highlights: https://www.canada.ca/en/financial-consumer-agency/programs/research/canadian-financial-capability-survey-2019.html
    Government of Canada Budget Planner: https://itools-ioutils.fcac-acfc.gc.ca/BP-PB/budget-planner
    Mint: https://www.mint.com/

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    22 min
  • 03: How can I make money outside of my day job?

    On the third episode of MI$$ FINDEPENDENT, Gloria is joined by her friend Wendi, they discuss having multiple income streams - from formulating ideas, to starting a side hustle, to gaining traction and staying motivated.

    Homework

    Task 1: Think about something you like to do that you can capitalize on
    Task 2: Dare I say, get it started? 

    Links

    Support local businesses by buying gift cards for their products/services at Support SME - https://supportsme.ca/customer
    tala, an awesome new Filipino restaurant in downtown Toronto - https://www.talatoronto.com/

    Teaching online platforms:
    Teachable - https://teachable.com/teach-online
    Udemy - https://www.udemy.com/teaching/
    An article from OEDB that lists out different platforms - https://oedb.org/ilibrarian/6-free-platforms-teaching-online/

    Teaching English online:
    Magic Ears - https://t.mmears.com/v2/
    VIPKid - https://www.vipkid.com/teach
    An FAQ from GoAbroad about teaching English online - https://www.goabroad.com/articles/teach-abroad/teaching-english-online

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    22 min
  • 02: Things your bank isn't telling you...

    On the second episode of MI$$ FINDEPENDENT, Gloria is joined by a friend and they talk about some of the topics that will be further covered in depth over the course of this season, like things your bank isn't telling you - there's money you could be leaving on the table. Bank fees? Interest? Investments? We're talking about it all today.

    Sign up for no-fee banking with Tangerine or EQ using my referral code!

    Tangerine - new accounts get 2.5% interest (first 5 months), use my Orange key: 40411403S1

    https://tangerine.ca 

    EQ Bank - all accounts get 1.7% interest:

    https://join.eqbank.ca?code=GLORIA1867

    Cover art by Suzzhang

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    23 min
  • 01: A Canadian's average net worth is WHAT?

    On the first episode of MI$$ FINDEPENDENT, Gloria is joined by her sister and they talk about why she started this podcast, why you should know your net worth and how to calculate it, as well as some statistics on average Canadian and American net worths. Net worth is a snapshot of your financial security at a given point in time and it’s a really good launching pad to help you plan for and keep track of your financial goals.

    Homework:

    Task 1: Find out your net worth if you don’t know already or if you haven’t calculated it in a while
    Task 2: Share this with someone who you think would benefit

    Real property valuation estimates:

    Car - Kelly Blue Book: http://kbb.ca
    Car - Canadian Black Book: https://www.canadianblackbook.com/
    Real estate - Zolo: http://zolo.ca

    Net worth statistics:

    US Federal Reserve - Survey of Consumer Finance 2016 - https://www.federalreserve.gov/publications/files/scf17.pdf
    Statistics Canada - Survey of Financial Security 2016 - Total and median net worth by age and family type - https://www150.statcan.gc.ca/n1/daily-quotidien/171207/t001b-eng.htm
    Statistics Canada Survey of Financial Security - Interactive Table - https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110001601

    --

    Disclaimer - Miss Findependent is sharing perspectives on personal finance for educational purposes. It may not apply directly to your individual situation. I'm not a licensed financial advisor and it's a good idea to consult with one before making any serious financial decisions. References to products, offers, and rates from third parties often change, please double check on the third party website to get the most up to date info.

    21 min
  • Coming soon: MISS FINDEPENDENT

    A personal finance podcast for young Canadians - starting from the basics to help you manage your money. Covering topics from budgeting to the financial independence movement to careers.

    Make your money work for you!

    2 min

About MISS FINDEPENDENT

From the publisher's feed

A personal finance podcast for young Canadians - starting from the basics to help you manage your money. Covering topics from budgeting to careers to the financial independence movement.