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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. EP077 The Five Simple Rules of Financial Success with Preet Banerjee

EP077 The Five Simple Rules of Financial Success with Preet Banerjee

Apr 9, 2019

Preet Banerjee is the author of the personal finance books Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success and RRSPs: The Definitive Guide to Registered Retirement Savings Plans. He is a personal finance commentator, keynote speaker, and consultant.  He trained as a neuroscientist and was a race car driver, before becoming a stockbroker and an index fund wholesaler. Additionally, he is a TED Talk speaker and a contributing author for The Globe and Mail. He also hosted the popular show Million Dollar Neighborhood on the Oprah Winfrey Network.

 

Preet joins me today to share his five simple rules to financial success and what inspired him to write his book, Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success. He reveals the impact that your emotions can have on your financial decisions and explains why it’s vital to ‘disaster-proof’ your life. He also reveals how making little changes to your saving habits can have a massive effect, debunks some of the most common misconceptions about personal finance, and explains why it’s better to earn interest instead of paying it.


“If you don’t spend less than you earn, then there is no surplus at the end of the day. Then you can’t save for retirement, pay for disability and life insurance, or build up that emergency fund.” - Preet Banerjee



This Week on Young Money:

 

  • Preet’s diverse background and what brought him to personal finance.
  • How momentum and curiosity have contributed to Preet’s career path.
  • A story demonstrating the things Preet wished he knew when he was younger.
  • The role that emotions play in managing finances and debt.
  • The inspiration behind writing his book, Stop Over-Thinking Your Money!: The Five Simple Rules of Financial Success.
  • The five simple rules of financial success.
  • What it means to ‘disaster-proof’ your life and why it is vital.
  • Preet’s TED TALK and why it's better to earn interest instead of paying it.
  • Why investing isn’t one of the five simple rules of financial success.
  • The biggest misconceptions of personal finance.
  • How to get the Get Your Money Degree course for free.


Preet Banerjee’s 5 Rules for Personal Finance Success:

 

  1. Disaster-proof your life.
  2. Spend less than you earn.
  3. Aggressively pay down high-interest debt.
  4. Read the fine print.
  5. Delay consumption.


Resources Mentioned:

 


Connect with Preet Banerjee:

 




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