Two Girls Investing Podcast

n this episode, we tackle the unglamorous side of homeownership, from the sheer sticker shock of premium paint to the frustrating reality of DIY door handle replacements. Shifting from renovations to wealth building, we break down exactly what we’d do differently if we started investing today. We cover how to strategically hold high-interest savings inside a TFSA to shield your money from taxes, the core flexibility differences between a TFSA and an RRSP, and why keeping a clean ETF portfolio across both accounts is the ultimate play. Most importantly, we highlight why women historically outperform in the stock market: patience, zero panic selling, and ignoring the noise. Start small, let compounding do the heavy lifting, and join us in normalizing everyday money conversations.

00:00 – Friday Catch Up

00:41 – Paint Costs & Home Reno Sticker Shock

01:45 – Door Handle Drama & DIY Reality

03:19 – Renovation Reality Check

04:16 – Investing Do-Overs: What We'd Change Today

05:58 – TFSA vs. RRSP: The Core Strategy & Differences

08:33 – Portfolio Setup: Sticking to Low-Cost ETFs

10:55 – Normalizing Money Talks

11:48 – Why Women Invest Better: Avoiding the Panic Sell

15:00 – Start Small & Build the Habit

17:41 – Compounding Beats the Lottery Ticket Mentality

19:49 – Teaser: Emergency Funds

20:19 – Wrap Up & Follow

In this episode, we (Jess and Colleen) break down the most costly mistakes beginner investors make and how to build a clean, straightforward portfolio today without the noise. Before getting into portfolio pitfalls, we share a quick laugh over local community Facebook drama and break down why switching to the Wealthsimple 2% cash back card beats complicated big-bank points systems. Then, we get honest about where first-time investors lose real money: high MER bank mutual funds, falling for internet hype, accidental ETF duplication, and gambling on penny stocks. Learn why simplifying your holdings into diversified, low-cost ETFs and mastering the emotional side of money is the fastest path to long-term wealth.

00:00 – Intro: What we’d do differently if starting today

00:48 – Unhinged local Facebook community boards & comment wars

05:11 – Credit card switch: Wealthsimple 2% cash back vs. Scotia bank travel points

08:32 – Mistake #1: Bank mutual funds and the hidden drag of 2%+ MER fees

09:44 – Mistake #2: Chasing internet noise, hype, and unresearched tips

11:38 – Mistake #3: Accidental portfolio duplication and ETF overlap

14:15 – Mistake #4: Penny stock gambling and the trap of survivorship bias

17:44 – The hardest part of investing: Managing emotions vs. logic

18:28 – Key takeaways & teaser: How much do you actually need in an emergency fund?

After an unplanned couple-month summer break due to busy schedules, the hosts return, share plans to improve their recording setup, release weekly episodes, seek sponsors, and eventually create courses and educational content for Canadian women. They discuss recent “frivolous” spending they don’t regret. They then outline what they would do if they were starting investing from scratch at 25 in Canada earning $65–70K with $5K saved, $15K student debt, and no investments. Each host shares what they would do and they highlight what they would do the same and what the differences are. They tease a next episode on investing mistakes.

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In this TGIF (Two Girls Investing Friday) episode, Jess & Colleen catch up on Jess’s music studio recording process. They then explain private equity by contrasting private vs. public companies, using examples like Dragon’s Den and startup investors, and describe how everyday investors can access private equity indirectly by buying publicly traded private equity firms or ETFs that hold them, noting higher potential returns but higher risk and suggesting it as a small, advanced allocation. They answer a question about investing as a single mom by emphasizing a strong foundation including an emergency fund and paying off high-interest debt, and discuss budgeting and portfolio planning using percentages, plus using credit score tracking as a way to gamify debt payoff and motivation.

00:00 Welcome to TGIF

00:34 Studio Recording Recap

00:54 Click Track Check

03:28 Karaoke

04:58 Private Equity Basics

08:10 How You Can Invest

10:56 Returns and Risk Talk

14:47 Portfolio Percent Allocations

16:54 Single Income Listener Question

19:10 Budgeting in Percentages

21:36 Credit Score Motivation Game

23:33 Wrap Up and Next Week

Jess & Colleen discuss unexpected “hidden costs” in investing, homeownership, and business operations. Jess shares surprises from a newly purchased up/down duplex rental property, including an unfinished backyard, choosing gravel over grass to reduce tenant maintenance, and contractor quotes for wood privacy fence and gravel. Colleen shares hidden business costs, moving from manual Excel payroll calculations to scheduling/time-tracking and payroll platforms costing about $70–$80 per month to save time and reduce errors. The episode explains Canada’s First Home Savings Account (FHSA): contributions reduce taxable income like an RRSP, withdrawals are tax-free for a first-time primary home purchase without repayment, the annual limit is $8,000, and the lifetime limit is $40,000; they note investing choices should reflect a homebuying timeline and plan to discuss private equity next episode.

00:00 Welcome to TGIF

00:34 Weekly Catch Up

00:51 Rental Hidden Costs

01:55 Fence Quote Shock

05:43 Business Payroll Costs

07:56 FHSA Basics Explained

10:33 Investing Timeline Tips

12:18 FHSA Limits and CRA

14:43 Primary Home Rules

16:17 Landlords and Balance

17:17 Next Week Preview

17:34 Wrap Up and Follow

Jess and Colleen discuss balancing summer adventures with finances, praising Jess’s discipline after a big Africa trip and her plan to do mostly local activities in Yukon, with only a short, costly trip to Haines, Alaska, while saving vacation money for winter travel. They compare this delayed-gratification approach with the other host’s summer expenses for children, including costly camps ($400–$600 per child per week) and $1,500 in activity fees, noting the childcare challenges for working parents. They share listener comments about the podcast’s global reach and Canadian focus, then answer a question from Kelsey about what to do after maxing TFSA, RRSP, and FHSA: pay down high-interest debt, invest in a non-registered personal account (taxed on sale via capital gains), optionally adjust payroll taxes via TD1, consider real estate or REITs, RESPs for kids, and potentially private equity with higher minimums. They plan a future FHSA episode.

00:00 Welcome to TGIF

00:34 Summer Spending Choices

03:12 Kids and Camp Costs

06:33 Listener Love and Reach

08:12 Maxed Accounts Next Steps

09:14 Non Registered Investing Taxes

11:24 FHSA Explained Briefly

12:07 Real Estate and RESP Options

13:45 Private Equity Teaser

14:57 Wrap Up and Next Episode

Jess and Colleen, hosts of TGIF, Two Girls Investing Friday share a personal update about Jess recording original music in a studio for the first time, then continue their investing discussion from the prior episode by outlining what you can hold inside registered accounts like a TFSA, RRSP, and FHSA (and also non-registered accounts): stocks, bonds, ETFs (including all-in-one stock/bond ETFs), high-interest savings accounts, GICs, and REITs that can pay monthly distributions. Colleen explains ETFs using a fruit analogy to highlight diversification and reduced risk versus individual stocks. They also clarify how tickers work, including suffixes like “.U” for USD-traded versions, and how to search for Canadian options by looking for TSX listings in Wealthsimple to avoid currency exchange fees, while emphasizing research, readiness steps, and robo-advisor alternatives

00:00 Welcome to TGIF

00:30 Studio Recording Plans

01:42 CDs to Spotify

03:32 Wealthsimple Investing Options

04:29 Stocks vs ETFs Explained

05:42 Why Diversification Wins

07:27 REITs and Dividends

08:10 Ticker Symbols Demystified

09:47 Finding Canadian ETFs

12:23 TSX vs NYSE on Wealthsimple

15:26 Robo Advisors and Readiness

16:20 Wrap Up and Next Episode

In this episode of TGIF: Two Girls Investing Friday, Jess and Colleen catch up and share some massive weekly wins! One paid off a huge chunk of personal debt in about three months by focusing on lowering credit utilization and tackling higher-interest balances, while the other successfully claimed airfare compensation after an overnight delay (pro-tip: delays over three hours may qualify!).

They then walk through setting up automated, recurring investments in a Wealthsimple RRSP to help reduce taxable income, explaining ETFs and key index concepts along the way. Using examples like VFV (Vanguard S&P 500 ETF), VDY (high dividend Canadian ETF), and adding XAW (global equities), they demonstrate exactly how to select “buy on a schedule,” choose your frequency and start date, and ensure your purchases occur inside an RRSP or TFSA rather than a non-registered account.

Finally, they preview a future episode on investment options and portfolio considerations so you can keep building your confidence!

Note: In the episode, we refer to a global ETF excluding North America as "VI"—the correct ticker symbol is VIU!

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00:00 Welcome to TGIF

00:34 Sunny Catch Up

01:04 Debt Payoff Win

02:01 ADHD Debt Strategy

03:35 Investing for Taxes

04:08 Flight Delay Payout

05:55 Automation Setup Intro

06:47 VFV and Index Basics

08:23 VDY Dividends Explained

09:01 Recurring Buys Walkthrough

10:17 Add Global ETF XAW

12:13 Next Episode Teaser

Jess hosts TGIF solo while Colleen is away and answers a listener question from Pam about using Wealthsimple and whether to invest through a TFSA or RRSP. She explains Wealthsimple as a Canadian fintech offering chequing and investing accounts, and reviews three investing approaches: traditional financial advisors, robo-advisors, and self-directed investing, emphasizing how higher fees can significantly reduce long-term returns. Jess breaks down how TFSAs work and how RRSPs differ. She shares a common guideline of using $50,000 income to help decide, notes many people use a hybrid approach, clarifies RRSP withdrawal options including the Lifelong Learning Plan and First-Time Home Buyers Plan, and reminds listeners they can hold multiple TFSA/RRSP accounts without overcontributing.

00:00 Welcome to TGIF

00:34 Jess Solo Update

00:54 Listener Question Setup

01:17 What Is Wealthsimple

02:34 Ways to Invest

03:48 Why Fees Matter

06:36 TFSA Explained

09:29 RRSP Explained

12:14 TFSA vs RRSP Rules

14:19 RRSP Withdrawal Options

16:41 Multiple Accounts Limits

17:49 Wrap Up and Thanks

Jess and Colleen catch up on busy family schedules and rising costs, then discuss tax surprises when owning businesses, prompting plans to calculate and set aside amounts monthly and contribute more to RRSPs while balancing liquidity. They continue their “money myths” series, emphasizing that budgeting and saving are essential foundations but not enough for wealth and time freedom; investing to outpace inflation and increasing income through job changes, negotiating (especially for women), or side hustles are key accelerators. They also challenge the idea that all debt is bad, distinguishing high-interest consumer debt from productive debt like mortgages or business loans, and describe how wealthy people may borrow against assets to avoid selling and triggering taxes. Next episode addresses TFSA vs RRSP and Wealthsimple.

00:00 TGIF Podcast Intro

00:34 May Schedule Chaos

01:07 Kids Sports Costs

02:33 Tax Season Surprises

04:22 RRSP Planning Balance

06:24 Money Myth Budgeting

08:30 Boost Income Strategies

11:26 Money Myth Debt

13:38 Rich Use Leverage

15:19 Wrap Up Listener Qs