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:
Tips to Take Charge of Your Finances in 2020:
Young Money Listener Contest!
I’d be so grateful if you could share news of Young Money on social media. For every share of the Young Money podcast that you tag me in on Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett) you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so share away! Contest closes on January 31st!
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