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This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

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  2. EP084 3 Myths Sabotaging your Financial Fitness

EP084 3 Myths Sabotaging your Financial Fitness

May 28, 2019

Many people find themselves in debt or suddenly realize that they aren’t making any savings or building a retirement nest egg. It can be hard to know where and how to start clearing debt. You may feel that you don’t have the financial knowledge to create a plan, start saving or make investments. It is also easy to make excuses or tell yourself stories to feel better about not doing anything to improve your financial situation.

 

Today, I share three myths that are sabotaging your financial fitness. I reveal how you can break the cycle of not taking action and how you can build upon your first steps towards financial fitness. I discuss the benefits of setting up a financial plan to clear debts and begin saving or investing. I also highlight the need for a budget that still lets you live a fun and fulfilling life as well as emphasize the importance of having an emergency fund and saving for retirement.



“You don’t need to know everything to take positive action. Start with one positive action.” - Tracey Bissett




This Week on Young Money:

 

  • How to overcome the paralysis of not taking action through a lack of financial knowledge.
  • How to build on simple beginnings and move towards financial fitness.
  • Why you need a dedicated plan and methodical approach to clearing debt.
  • Setting a budget that still allows you to have a fun and fulfilling life.
  • Why you should save consistently and regularly, regardless of how large or small the amount you set aside.
  • The power of compound interest.
  • How to grow an emergency fund or save for retirement.



The 3 Myths Sabotaging your Financial Fitness:

 

  1. You can’t do anything because you don’t know anything or everything about finance.
  2. There’s an easy fix to dealing with debt.
  3. You do not have enough money to worry about savings or investing.






Get Your Young Money Questions ANSWERED!

 

Want to learn more about how you can stay financially fit or share a myth sabotaging your financial fitness? Leave a voice message to get all of your Young Money questions answered.

 

Remember - there is no silly question when it comes to your financial fitness.




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