Not Just Money

RRSP or TFSA — which should you prioritize? In this back‑to‑basics episode of Not Just Money, Doretta and Li break down everything Canadians need to know about these two powerful registered accounts. Whether you’re early in your career, earning a higher income, or trying to build long‑term financial security, understanding how RRSPs and TFSAs work is essential.

They explore:

The core differences between tax‑deferred RRSPs and tax‑free TFSAs

How contribution limits work (and why unused room carries forward)

Why RRSPs were created — and how they fit into Canada’s retirement system

How TFSA contribution room is calculated (and why they’re so popular)

When RRSP withdrawals are taxable — and when they’re not

The Home Buyers’ Plan (HBP) and Lifelong Learning Plan (LLP)

Why overcontributing leads to harsh penalties

How employer RRSP matching can change your strategy

Income‑based rules of thumb for choosing between RRSPs and TFSAs

Why your RRSP refund can be a powerful TFSA funding tool

The risks of speculative investing inside registered accounts

How these accounts fit into a broader financial plan

This episode gives you the clarity to make smart, tax‑efficient decisions — without the jargon, confusion, or pressure.

Links:

Home Buyers’ Plan (HBP) https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/home-buyers-plan.html

Lifelong Learning Plan (LLP) https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/lifelong-learning-plan.html

CRA Comparison: HBP vs LLP https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/home-buyers-plan-lifelong-learning-plan.html

Back‑to‑school is now the second biggest shopping season of the year, worth more than $4.5B in Canada alone and driven by millions of families gearing up for September. In this episode, Li and Doretta break down how retailers use basket‑building, bundling, deadlines, influencer marketing, and kid “pester power” to get you spending more than you planned.

They also reveal where the real value deals are—home office supplies, kids’ clothing, dorm essentials, toiletries, and more—and why late August and early September can be the smartest time to buy.

You’ll learn:

Why families spend $600–$750 per child when electronics are included

How retailers use “basket recommendations” and free‑shipping thresholds to grow your cart

What items are true loss leaders (and which are not)

Why August is peak pricing and September is clearance season

How back‑to‑school shopping can become a powerful financial literacy lesson for your kids

Whether you’re a parent, a student, or just someone who loves a good deal, this episode helps you shop intentionally, avoid psychological spending traps, and make your money work harder—not just disappear into impulse buys.

Surveillance pricing is no longer a futuristic fear — it’s coming, and it could change how every one of us shops. In this episode of Not Just Money, Doretta and Li break down what surveillance pricing actually is, how it differs from dynamic pricing, why Toronto’s mayor wants to ban it for groceries, and how AI-driven algorithms can quietly determine your personal price based on your online behaviour.

They explore:

The difference between dynamic pricing and surveillance (personalized) pricing

How companies use your browsing history, device, location, shopping habits, and third‑party data to predict your “maximum willingness to pay”

Why surveillance pricing is considered algorithmic price discrimination at scale

The role of AI in accelerating individualized pricing

What regulators in Canada are watching — Competition Bureau, privacy law, consumer protection

Why privacy is now a money issue, not just a civil rights issue

How loyalty programs, cookies, and tracking shape the prices you see

Practical steps to protect yourself when shopping online

This episode is essential listening for anyone who shops online, uses loyalty programs, or wants to understand how AI and data surveillance are reshaping everyday prices.

Link:

https://competition-bureau.canada.ca/en/how-we-foster-competition/education-and-outreach/publications/algorithmic-pricing-and-competition-discussion-paper  

Most people glance at their pay cheque and move on — until something looks “off.” In this episode of Not Just Money, Doretta and Li break down what your pay stub actually tells you, why your take‑home pay is often lower than expected, and how to understand every line on your pay statement.

Whether you’re a student working your first job, a full‑time employee, or someone who’s never really looked at their pay stub, this episode gives you the clarity you need to understand where your money is going — and why.

You’ll learn:

The difference between gross pay and net pay

What mandatory deductions really are: income tax, CPP/QPP, EI

What employer deductions cover (and why they’re worth it)

How raises actually affect your taxes (hint: a higher tax bracket never makes you poorer)

Why two people with the same salary can have different take‑home pay

How to spot errors in your pay cheque

What to do if you don’t receive a pay stub

The risks of working under the table — from EI eligibility to CPP retirement impacts

This is a practical, back‑to‑basics episode that helps you understand your income, your deductions, and your financial rights as an employee. If you’ve ever wondered “Where did my money go?”, this one’s for you.

Taylor Swift’s wedding sparked endless speculation — but the real lesson isn’t the dress, the venue, or the guest list. It’s the financial planning behind the scenes.

In this episode of Not Just Money, Doretta and Li break down why marriage contracts (prenups) aren’t just for celebrities or wealthy couples — they’re for anyone building a life together. Whether you’re entering marriage with assets, debt, a business, children, or simply a desire for clarity and fairness, a marriage contract can be one of the smartest financial decisions you make.

They explore:

What a marriage contract actually is — and what it covers

Why prenups aren’t about expecting divorce

Common myths (and Hollywood misconceptions) about prenups

How contracts protect assets, businesses, inheritances, and future plans

Why honest money conversations matter more than the document itself

How to approach the topic with your partner respectfully and confidently

Why Taylor Swift’s legal strategy is a model for everyone 

Li also shares her personal experience creating her own marriage contract, how she and her husband navigated the conversations, and why she sees it as a gift to her future self.

If you’re thinking about marriage, already planning one, or simply want to understand how to protect your financial future, this episode is essential listening.

Taylor Swift and Travis Kelce’s wedding may have dominated the internet, but Doretta and Li are asking a different question: What does this moment reveal about the way we think about weddings today?

In this episode of Not Just Money, the hosts dig into the real story behind modern weddings — the soaring costs, the cultural expectations, the social‑media‑driven pressure to create a “perfect” event, and the surprising history behind traditions like white dresses and diamond rings.

They break down:

Why weddings now cost $30,000–$40,000 for the average Canadian couple

How the wedding industry ballooned into a $5B business

The psychology behind personalization, performance, and Pinterest‑level expectations

The hidden correlation between wedding spending and divorce

Why Taylor Swift’s rumoured 40‑page prenup is actually the smartest part of the whole event

The one wedding takeaway no one else is talking about

Whether you’re planning a wedding, avoiding one, or just fascinated by the cultural shift, this episode challenges everything you think you know about “the big day.”

Next week: A full deep dive on marriage contracts (prenups) — why you need one, what they protect, and how they’re becoming a modern essential.

Summer is here — and so is travel season. But great travel isn’t just about cheap flights or perfect itineraries. In this episode of Not Just Money, Doretta and Li explore the art of travel: how to plan trips that actually enrich your life, match your purpose, respect your budget, and leave you feeling restored instead of exhausted.

They dive into:

Why your “travel why” matters more than your destination

How travel can shape identity, deepen perspective, and spark self‑discovery

The psychological trap of “Instagram travel” — and how to avoid it

How to align travel goals with partners, kids, parents, or friends

The emotional impact of mismatched travel styles (and how to prevent conflict)

The joy of anticipation — and why planning boosts happiness

How reading novels, poetry, or history about your destination transforms the experience

Practical travel strategies:

When to book flights for the best prices

Hotels vs Airbnbs vs hostels vs university residences

Why packing light saves money and sanity

How to use eSIMs to avoid roaming fees

Why grocery stores are your secret travel weapon

How to compare total accommodation costs (parking, breakfast, cancellation policies)

When to splurge — and when to save

How to travel with kids, seniors, or friends without losing your mind

Why renting a car, booking attractions early, and using local tours can elevate your trip

How to avoid being “house poor” while still making room for travel in your financial plan

This episode blends personal stories, practical advice, and thoughtful reflection to help you travel with intention — not pressure, comparison, or FOMO.

If you want your next trip to feel meaningful, restorative, and aligned with your life (not just your social feed), this conversation is for you.

Update: Li is wrong. There is only one Mona Lisa. Sorry, Louvre! 

Prediction markets have officially arrived in Canada — but are they innovative forecasting tools or just gambling dressed up in financial language? In this episode of Not Just Money, Doretta and Li break down what prediction markets really are, how they work, why regulators are suddenly paying attention, and what Canadians need to know before putting a single dollar into forecast contracts.

They explore:

What prediction markets are and how “yes/no” contracts actually work

Why Wealthsimple Predict and other platforms are entering the Canadian market

The strict rules set by CIRO — and why Canada is not allowing political, sports, or celebrity prediction contracts

How prediction markets exploded in the U.S. (and why sports betting now dominates the space)

The risks of market manipulation and why institutional investors can skew probabilities

The growing link between mobile betting, debt, and gambling addiction — especially among young men

Why regulators see prediction markets as sitting between derivatives, speculation, and gambling

Whether these tools genuinely improve forecasting… or simply monetize human behaviour

Li also shares her candid view on why prediction markets may become yet another “get rich quick” trap targeting financially stressed young adults — and why friction matters when it comes to protecting people from harmful financial habits.

If you’ve seen the headlines about prediction markets coming to Canada and wondered whether they’re an opportunity or a danger, this episode gives you the clarity you need.

Getting pickpocketed is more than an inconvenience — it’s a violation. In this episode of Not Just Money, Li shares her real‑life experience of having her wallet stolen in a crowded Toronto café, and the emotional and financial fallout that followed. From thousands of dollars in attempted charges to the long process of reporting theft and protecting her identity, this episode walks through every step of what really happens when your cards and ID disappear.

Doretta and Li break down:

The difference between theft and robbery (and why it matters legally)

How professional pickpocket crews operate in tourist areas, cafés, transit hubs, festivals, and major events

What thieves target — and why they selectively take certain cards and IDs

How fraudsters attempt rapid, high‑value purchases within minutes

The exact steps to take when your wallet or phone is stolen:

Contacting your bank

Cancelling credit cards

Filing a police report

Alerting credit bureaus

Replacing government ID

The emotional impact of theft: violation, paranoia, anger, shame, and how to process it

How organized theft rings move between major Canadian cities

Practical, everyday prevention strategies to protect your wallet, phone, and identity

This episode is part personal story, part financial safety guide — and a reminder that theft can happen anywhere, even at home, and even when you think you’re being careful.

If you’ve ever wondered what you should actually do after your wallet is stolen, or how to prevent identity theft before it happens, this episode gives you the clarity and confidence you need.

Links:

Want the fresh take on this story when it happened? Listen in to the original podcast recording on the Mastering Money podcast!

Apple podcast: https://podcasts.apple.com/ca/podcast/s9-e04-surviving-the-shadows-street-crimes-and-robbery/id1476545093?i=1000645449846

Spotify: https://open.spotify.com/episode/0xzzfb7ZswK71eypk5NZJI

Podbean: https://cpafinlit.podbean.com/e/mm-s9-e4/

The FIFA World Cup brings excitement, crowds, and unforgettable moments — but it also attracts some of the world’s most sophisticated scammers. In this episode of Not Just Money, Doretta and Li break down the explosive rise in FIFA‑related fraud, from fake ticket portals to counterfeit merchandise, phantom rentals, and dangerous public Wi‑Fi traps.

They explore:

How criminal networks created 4,300+ fake FIFA ticketing domains

Why digital tickets and dynamic QR codes make resale scams so easy

How scammers hijack your FIFA account and resell your legitimate tickets

The rise of counterfeit jerseys and merch tied to organized crime

Phantom rental scams targeting fans in Toronto and Vancouver

“Evil Twin” Wi‑Fi networks that steal your passwords and credit card data

Fake contest messages offering “VIP hospitality packages”

The psychology behind scarcity, urgency, and FOMO — and how scammers weaponize it

Why emotional decision‑making makes even smart people vulnerable

How to protect your digital footprint during major events

You’ll also learn practical, actionable steps to stay safe:

How to verify URLs and avoid typosquatting

Why you should use single‑use virtual credit cards

How multi‑factor authentication protects your ticket wallet

What to avoid on public Wi‑Fi

How to spot counterfeit merch and fake rental listings

Why “too good to be true” is always a red flag during global events

Whether you’re attending a match, shopping for merch, or just browsing online, this episode gives you the tools to stay safe during one of the biggest sporting events in the world.

Links:

Find those FIFA beavers! https://oldtowntoronto.ca/beaverquest/