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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.

Oct 19, 2021

Linda Stern is a Senior Manager and Licensed Insolvency Trustee at Crowe Soberman Inc. With over twenty-five years of experience working in Canada, primarily in consumer insolvency matters consulting with individuals overwhelmed with debt, Linda helps people find solutions that work best for their financial and personal situations. In this episode, she joins the show to share her advice on what to do if you find yourself in debt, as well as how not to get overloaded with debt as you move forward in life.

Listen in as Linda explains the importance of patience within her profession and why it is essential to understand the advice you are receiving from your Insolvency Trustee. (If you are unsure, ask questions!) You will learn the current landscape of debt and bankruptcy in Canada, why creating a budget for your spending is important, and success tips for managing your finances.

“Providing information clearly and with patience is key.” - Linda Stern

This Week on Young Money:

  • What a licensed insolvency trustee is.
  • What Linda is seeing with respect to Canadians and debt levels.
  • Whether there have been more people filing for bankruptcy as of late.
  • What you need to know about working successfully with an insolvency trustee.
  • Common missteps to avoid when it comes to debt.
  • The importance of understanding your spending.

Key takeaways:

  1. Be patient.
  2. Ask questions.
  3. Create a budget.
  4. Understand your spending.
  5. Seek professional advice.

Connect with Linda Stern:

This episode is powered by the Cash Control Bootcamp

Has this episode inspired you about your business? To start a new venture or take yours to the next level requires you to understand your cash flow cycle, how to manage it, profitably price your products and services, have those difficult conversations with stakeholders and so much more.

To help you learn those critical skills I have developed the Cash Control Bootcamp - a live, online group program that empowers entrepreneurs just like you to demystify your business finances and get control of your money so you can sleep better and provide the lifestyle you want for you and your family. Check out all the details here.

Enrolment is now open for The Cash Control Bootcamp - Know Your Numbers, Protect your Business and Grow for the Future - Register here today. 

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