Preview Mode Links will not work in preview mode

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.

Dec 12, 2017

It’s hard to be a post-secondary student in today’s economic society. The grades you need to get into post-secondary schools are high and the cost of tuition gets more expensive with each passing year. Although there are often grants, scholarships, and other financial programs available, many post-secondary students use credit cards and student loans to put themselves through school. In fact, 9 out of 10 post-secondary students carry at least one credit card to help make ends meet. On today’s episode, I’m sharing some startling Canadian student debt statistics that are impacting our young adults. I’m also discussing the three biggest mistakes people make when educating young adults about student debt, student loans, and using credit cards as well as how to avoid these mistakes and plan for a better, more financially fit future.  

“Credit cards are neither good nor bad. It’s all in how you use them.” - Tracey Bissett

This Week on Young Money:
  • Evaluating costs associated with obtaining a post-secondary education
  • Education costs often overlooked or ignored
  • The importance of budgeting for post-secondary expenses
  • What to consider when creating your budget
  • Understanding the economic realities of post-grad life
  Key Takeaways:
  1. Don’t just look at the surface costs of post-secondary education
  2. Make a budget to detail all your educational expenses
  3. Assess cashflow vs expenses and adjust accordingly
  4. Post-graduation, figure out your current and expected expenses
  5. Recognize it’s perfectly normal to not be able to afford all of your wants and needs immediately out of school

Rate, Share & Inspire Other Young Millionaires-in-the-Making

  Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!   Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.