Money Talks - Decoding Finances

Money plays a major role in our day to day lives. From the brand of peanut butter we purchase at the grocery store, to the choice of produce we shop for. Money affects the economy and the neighbourhoods in which we live! Essentially money makes the world go around. But did you know that health and wealth are heavily intertwined? When your health decreases, financial stress increases. When an individual suffers from a critical illness such as; cancer, heart attack, or stroke, it has a devastating impact on the household financially. Proper protection through critical illness insurance, is a great way to reduce any added stressors when dealing with unforeseen critical health issues. In this episode my guest Adi Dasgupta shares his story about the financial hardships that he came up against all while fighting for his life with testicular cancer!

This video is the ULTIMATE GUIDE to understanding mortgages A mortgage is one of the largest long-term loans a household may ever take-on so you should really gain a clear understanding on this subject. In this video we will talk about:

1. What is a mortgage?

2. How does a mortgage work?

3. A breakdown of common mortgage terminology (eg; amortization, terms, fixed vs variable interest rates, open vs closed mortgages, GDSR vs TDSR etc.)

4. How to Pay off your mortgage faster?

5. What is default mortgage insurance?

6. Qualifying mortgage requirements

7. What is a HELOC (Home Equity Line of Credit)

And so much more

Buying a home is more is one of the biggest purchases most people will make in their life. It's definitely an emotional roller coaster from saving your down payment to closing your home and everything in between.

Are you a first time home buyer in Canada? Are you thinking to yourself, I don’t even know where to start? Well you are in luck! On this episode of Money Talks Decoding Finances, Realtor Ola Adegboruwa and I will to break down the steps to buying a house in Canada. By the time you have finished this video you are going to be better equipped to buy first time home and feel confident buying a home in any Canadian real estate market.

Life insurance is a financial instrument to protect your family against a tragedy. Building wealth is not just about growing our money through investments it's also about protecting the wealth you've built to this point or the debt you've accumulated so it doesn't get transferred to your loved one. In this episode we discuss the importance of life insurance in our financial planning process.

Will planning is such an underestimated process that many people oversee. We are worth more died than we are alive. The financial process around an individual's death is something most individuals are not aware of simply because we're not educated and it's such a taboo topic in our society. On this episode we explore this topic in more depth and really understand the reasons why having a will is important for every Canadian.

No matter who you are you could never avoid taxes in its entirety, however you could navigate the tax system much better when you understand how it works. In Canada we pay taxes on everything! On this episode, you'll get a better understanding of how income taxes work and all the things you should take into consideration when it comes to your taxes.

Dealing with debt is never an easy thing specially when you feel like you're drowning in it. It takes a toll and has control on so many aspects of our lives and can lead to stress by limiting your ability to enjoy life. Without a strategy to manage your loans and pay off your credit card debt it could lead to a downward spiral and lead to all sorts of mental health issues such as depression and anxiety, which in return leads to major health issues. In this video we will discuss the options that are available to help you reduce and eliminate your debt. There are solutions out there and that is why this education is vital for all of us to have a better quality of life.

We are no longer shackled but chains but through debt. Consumer debt is a huge issue in North America. We are never educated on this topic but by the time we graduate high school we get our first cards, max them out and by the time we're done college or university we're drowning in debt for the rest of our lives. In this episode we break down the Canadian debt system. You cannot beat a system you don't understand and we are happy to decode debt so we could all win.

Allow me to introduce myself. Hello world, my name is Harprit Gill and I'm here to help you decode finances.

My name Harprit Gill and I am Financial Advisor/Educator, Community Leader and Entrepreneur. I have taken my passion of community work & entrepreneurship and combined it with my love of educating people on financial literacy and providing financial solutions. As an individual who grew up in a marginalized community, I noticed the lack of literacy and the barriers to access sound financial resources and advisors. I decided to take the problem in my own hands and bridge the gaps to ensure our communities have a trusted individual/team who is/are relatable and take a bottom up approach to financial planning. I am on a mission to changing lives of everyday individuals and families. My goal is to revolutionize communities by teaching people how to build and sustain wealth through a holistic community-based approach.