The Financial Classroom Canada

By The Canadian Financial ClassroomBusiness

The Financial Classroom Canada episodes

September 15, 2024 077 | Emergency Funds and Self-Insurance - Real Life Examples | The Financial Classroom Canada
In this episode, Eric provides some real life examples of why having an emergency fund is so important. While Tim and Wil provide some insight into self-insurance and why this is such an important concept to discuss.
Listen as we discuss:
-How each member handles emergency funds
-Utilizing a shared emergency fund when finances are kept separate
-Why emergency funds are good for your mental health
-What is self-insurance?
-Rising insurance costs

Hope you enjoy the episode!

Social Media Pages
Facebook: The Financial Classroom Canada
Instagram: thefinancialclassroom

If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at [email protected].
Passiv Investment App: https://passiv.com
29 min
August 31, 2024 076 | Market updates, and our thoughts | The Financial Classroom Canada
Hi again! It’s been awhile. Life is just crazy busy, but we are trying to slowly get into the swing of things as fall enters. We gave a little bit of a feedback on the current markets and what is going on lately in the markets.

If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at ⁠[email protected]⁠

Passiv Investment App: ⁠https://passiv.com
19 min
July 09, 2024 075 | We're Back | Life Updates, Where We've Been and Where We're Going
Hi again! It’s been awhile. A LONG while. But we’re back. This episode is a little update about what we’ve been up to, our investments and big life happenings. We’ve got some BIG and fun things that have been going on in the meantime. A few things that we talked about this episode…
-       Tim ran into a listener of the show
-       Passiv investment application
-       Eric talks about how his dividends have been growing
-       How hustling in his 20’s has given Will freedom to take significant time off work
-       Tim has finally earned Wealthsimple premium, and Will has earned Wealthsimple generational

If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at [email protected]

Passiv Investment App: https://passiv.com
23 min
December 08, 2023 074 | Budgeting - Aligning Values, Evaluating Methods and Building a Personalized Plan
In this episode, Eric and Tim discuss the ins and outs of a shared passion – budgeting. They see budgeting as more than a math calculation; they see it as aligning your values with your finances and a means to experiencing peace of mind. They also realize that there are a lot of challenges associated with budgeting, especially in getting started with your first budget. In this episode, Eric and Tim discuss the following topics:

-       Budgeting as a reflection of your values
-       Budgeting as a life enhancer – not a restrictor
-       Various budgeting methods
-       Building an emergency fund
-       Budgeting for variable income, such as commission or seasonal
-       Evaluating your budget

If you have any feedback, have topics you would like us to discuss, or if you would like to come on the show, feel free to email us at [email protected]

Lending Tree Article: https://www.lendingtree.com/personal/budget-to-pay-off-debt/#:~:text=50%2F30%2F20%20budget&text=50%25%20of%20your%20income%20should,toward%20savings%20and%20debt%20repayment.
56 min
November 01, 2023 073.5 | We are back! Updates on Current Economic Environment | The Financial Classroom Canada
Hey everyone!
Sorry for MIA all summer, but we are back! Tim, Eric, and Will were all busy during the summer and had to take a break. It's good to be back recording once again.

In this episode we caught up on each other's summer and how each other is doing overall.

We touched on the current economic environment in the world and why markets have been dropping recently. A few things we noted were the reduction in fed balance sheets via QT, as well tight macro conditions due to interest rate being so high.

It was good to be back! Let us know if there is anything you want to hear about and if you would like to come on the show feel free to email us at [email protected]

38 min
July 29, 2023 073 | Eric's 6-Figure Millennial Journey | The Financial Classroom Canada
In this episode, we take a deeper dive into the newest member of The Financial Classroom Canada, Eric, and learn about his journey to becoming a 6-figure millenial.
We interview Eric to discover the challenges he faced, changes he made, lessons learned, and how to avoid the temptation of "Keeping up with the Joneses".
During our conversation, we discussed:
- Eric's Current net worth, with discussion on asset allocation and the use of separate accounts
- The mistakes made along the way
- What debt was incurred
- Managing Finances with his partner Natalie
- Financial Goals for the future
- And more!
If you are a 6-figure millennial or someone who is passionate about finance and would like to come on the podcast, feel free to reach out to us at [email protected] or on Facebook and Instagram.
44 min
June 28, 2023072 | Common RCMP Pension Questions | feat. Miro Svoboda
In this episode, Miro Svoboda returns to discuss the most common questions that he has received from RCMP members about their pension plans. While this is an excellent episode for any member of the RCMP to listen to, it will also be extremely beneficial for anyone else who has a defined benefit pension. Some of the topics discussed include:
How is a defined benefit pension calculated?

What happens when someone leaves the RCMP because of disability?

What benefit is available to the spouse and kids if the pension holder passes away?

What happens to a defined benefit pension in the case of a divorce?

What are the tax implications of withdrawing the cash value of the pension?

What is the process of applying to receive either the cash value of the pension or the annuity?
If you have any questions for Miro, please feel free to reach out to Miro and his team by email. And don’t forget to check out his YouTube channel for more excellent personal finance content.

Email: [email protected]
Youtube: Easy Retirement with Miro or https://www.youtube.com/@easyretirementwithmiro
48 min
April 28, 2023071 | New Federal Benefits:Changes 2023 | The Financial Classroom Canada
We are back after a little break! In this episode on the Financial Classroom Canada, we talk about a few of the new changes that the Canadian Federal Government has introduced in 2023. We talk about:
First Home Savings Account (FHSA)
What is it?
Government Savings account in which you can put money away for you and/or a partner, to save for the purchase of your first home.

Who is it available to?
This is available to anyone in which hasn’t personally owned or has a common-law/spouse who’s owned a primary residence within the past 4 years

Why would someone use it?
This is beneficial to someone who is looking to save money for first home and not having the trouble of looking elsewhere of how and where to store the savings.

How much can one contribute?
An individual is allowed to contribute $8,000 per year, to a maximum of $40,000 for a lifetime. Lifetime means that you can only ever save up to $40k in this to buy your first time, you cannot go higher than this.

Tax Tip: Is good for those looking for a way to also deduct their taxable income but also have to pay $0 in taxes once you withdraw, saving you $$
Grocery Rebate
What is it?
A sum of money given to you by the federal government to help assist with the cost of groceries. It is solely based on income, which the threshold is $X or

Who is it available to?
Anyone within the GST credit area, meaning, if you receive the GST credit, you'll be eligible to receive this rebate.

How much will you receive?
An average family of four with two children would receive $467, while a single Canadian would be eligible for $234 in rebates

Federal Student Loan interest eliminated April 1
So, don’t worry about having to deduct this on your return anymore/ SK YOU STILL NEED TO

Rental and dental benefits weren’t used much

Federal income tax brackets indexed by 6.3%

Payday loans

Increase student loan interest limit

New Carbon Tax April 1
After grocery and other rebates
Why we should file tax returns
If you don’t you can’t take advantage of any of the credits/rebates mentioned
40 min
March 16, 2023070 | The 6 Figure Millennial | Tim's brother reaches 100k through sustainable practices and realistic expectations ft. Michael
On this episode of The Financial Classroom, our special guest is Tim’s brother Michael. Michael self-describes himself as having become a 6-figure millennial by accident. However, he goes on to clarify that he achieved this feat by keeping expectations realistic about the lifestyle he can afford. Listen in as Michael talks about:
How he paid off his student loans, and went on to pursue additional schooling debt-free

The importance of knowing where you’re money is going

Eating sustainably as a cost-saving measure

Buying kids stuff off VarageSale and other online marketplaces

Making the little things count
If you are a 6-Figure Millennial or want to come on as a guest, feel free to reach out to us at [email protected] or find us on Instagram or Facebook.
40 min
March 01, 2023069 | Current Market conditions + Private Securities | ft. Miro Svoboda | The Financial Classroom Canada
Episode 69
Today we got to talk to Miro Svoboda once again from Harbour Front Wealth. This time we talked about the current economic conditions and how the feds have influenced the market. We then dived into owning variable assists in order to protect yourself when parts of your portfolio is down, and navigating through this bear market.

We also discussed how the traditional 60/40 portfolio last year didn’t work, as bond prices dropped a ton last year resulting in people in retirement panicking. Miro touched on how the rise in interest rate took a massive hit on the market as the feds tried to decrease demands. Lastly we discussed about private investing, how to diversify into private equities, private real estate and private fix income.

Check out Miro's Youtube account: Easy Retirement with Miro.

You can also reach out to him via Email: [email protected]

If you would also like to be a guest on our show, feel free to email us at [email protected] or find us on Facebook and Instagram.
50 min

About The Financial Classroom Canada

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Welcome to The Financial Classroom Canada. This is a podcast that talks about personal finances and discusses personal stories/struggles of financial mistakes. We believe that many people struggle…