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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. EP117 Lessons Learned in 2019; 2020 Predictions & Tips

EP117 Lessons Learned in 2019; 2020 Predictions & Tips

Dec 31, 2019

With 41% of Canadians rating money as their most significant source of stress, it is likely affecting you or someone close to you. More than half of Canadians are just $200 away from being unable to pay their bills. One in five couldn’t afford to live for a week if their primary source of income disappeared. Financial confidence is strongly related to financial well-being, so it is essential to learn about money management to build your confidence. 

 

Today, I share the top 3 financial fitness lessons we have learned in 2019 and announce my 2020 predictions and tips. I discuss how debt levels will continue to rise in 2020 and how you can reduce this trend with careful money management. I share how you can assess your finances and work out your cash flow numbers as well as what to do if your outgoing cash, your spending, exceeds your incoming cash, your income. I also highlight why it is vital to set financial goals and how to make sure they become a reality.




“Think about what is important to you and create financial goals to achieve the things you want in your life.” - Tracey Bissett




This Week on Young Money:

 

  • The rising debt levels in Canada 
  • Why money management is crucial for financial success
  • How to avoid financial overwhelm
  • Determining your money mindset and assessing where you are
  • How to work out your cash flow with actual numbers
  • Determining whether to reduce your spending or increase your earnings
  • Why it is vital to set financial goals
  • Assessing every purchase to see if it aligns with your goals



Tips to Take Charge of Your Finances in 2020:

 

  1. Observe your money mindset
  2. Figure out your numbers
  3. Assess your financial performance
  4. Set financial goals
  5. Be mindful about spending




Resources Mentioned:

 





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