Money Stuff With Moms

In this episode, we delve into the exciting realm of real estate as we discuss the recently introduced First Home Saving Plan. Breaking down the key features and benefits of this innovative savings initiative, providing valuable insights for first-time homebuyers navigating the path to homeownership. Tune in!

If financial literacy isn't in your past but you want to break the cycle and make it your current and your kids future financially aware and savvy, join us to a conversation on where to start.

LINKS FROM TODAY'S EPISODE

Gail Vaz-Oxlade's Articles on MoneySense: https://www.moneysense.ca/author/gail-vaz-oxlade/

Tori Dunlap on Financial Feminism & Money Education: https://herfirst100k.com/

Sharing both the feeling of overwhelm as well as our savings tips. Not only is money tight, but also your time currency.

Lindsay: It's okay to tell your child NO, navigating the social pressures, utilitize Bank Account Budgeting

Meghan: 4 staple gifts per child (something they want, something they need, something to wear, something to read)

Listen to Ep 44: The biggest things stopping you from financial success

Banks can be a real pain in the butt. But can also be an easy resource when you need help. It can be helpful to have a list of tangible questions before meeting with an advisor. But it is also important to know that working with an advisor at the bank may not lead to a long-term relationship as advisors tend to rotate frequently.

Whether you're planning for retirement, managing debt, or investing for the future, join us as we explore the fundamental principles that will empower you to make informed, confident, and financially savvy decisions.

You should always pick a mortgage strategy that works best for you + your family based on your cash flow, goals and budgeting preferences.

But sometimes you don't know what you don't know... so today we break it down + discuss different mortgage payment strategies and the advantages and disadvantages of paying monthly, bi-weekly, or making an extra annual payment.

Enjoy!!

In this episode Meghan + Lindsay mentioned:

Mortgage Professional Elizabeth Prins: www.mortgagesbyliz.com https://www.facebook.com/MortgagesByLiz

Ep 35: Do you need a Money Coach?https://podcasts.apple.com/us/podcast/money-stuff-with-moms/id1665302616?i=1000621909446

Should you focus on savings or paying down your mortgage?

Meghan + Lindsay discuss and emphasized the importance of considering both capacity for risk and appetite for risk when making investment decisions. As well as how important it is to talk about financial strategies with others. Especially if you're in analysis paralysis mode.

Ben Felix "Cash is a terrible long-term investment, even at 5% interest":

https://www.youtube.com/watch?v=KdzOlRRHOU8

Ep 18: Investing Basics with MICHELLE HUNG:

https://podcasts.apple.com/us/podcast/ep-18-investing-basics-with-michelle-hung/id1665302616?i=1000607832457

https://thesassyinvestor.ca/

https://www.instagram.com/thesassyinvestor/

Individual life and disability coverage is better than relying solely on bank-provided policies because it covers more than just mortgages. It also covers critical illness and disability situations where individuals may need income replacement while recovering from sickness or injury. Mortgage insurance is not always the best option for homeowners.

Ep 4: Interest Rates - what can we do?

https://podcasts.apple.com/us/podcast/ep-4-interest-rates-what-can-we-do/id1665302616?i=1000595637399

Ep 12: Life Insurance 101 - do you NEED it?? w/ Guest: ALYX VALDAL

https://podcasts.apple.com/us/podcast/ep-12-life-insurance-101-do-you-need-it-w-guest-alyx-valdal/id1665302616?i=1000602607206

2023 Report Financial Sustainability of CPP: https://www.cppinvestments.com/the-fund/f2023-annual-report/

Rational Reminder 2019 CPPIB: https://rationalreminder.ca/podcast/52

CPP Numbers (before tax):

• CPP age 60 max $770/mth
• CPP age 65 $1,200/mth
• CPP age 70 $1,700/mth
• The current average CPP at age 65 $700/mth

Today we discuss the biggest things that stop people from achieving financial success. Whether you're a seasoned investor or just starting on your financial path, this episode is a must-listen for anyone seeking to conquer their financial goals.

Links mentioned:

Owen's Plan Easy YouTube https://www.youtube.com/@planeasy