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.

Jul 13, 2021

Have you heard about "revenge spending"? This term was created to describe the frenzied spending that is taking place now that people are able to get out and spend their money again. This rush to spend typically follows an unprecedented event—such as the pandemic—as people seek to reclaim control and a sense of normalcy. So in this episode, I will be sharing the steps you can take to avoid revenge spending and become more financially confident.

Listen in as I explain the importance of having an emergency fund and why so many people are not financially prepared if they were to suddenly lose their job. You will learn the importance of creating a budget to ensure you are not spending money you don’t have and why you shouldn’t base your spending on how others are spending.

Financial confidence is strongly related to financial well-being.” - Tracey Bissett

This Week on Young Money:

  • How to manage the revenge spending urge.
  • What percentage of Canadians rank money as their greatest source of stress.
  • How many people couldn’t afford to live for a week if their income suddenly disappeared.
  • The importance of creating a budget and how can this can secure your financial future.
  • What an emergency fund is and how to implement that into your savings plan.

Key takeaways:

  1. Create a budget.
  2. Have an emergency fund.
  3. Pay off debt.
  4. Set boundaries.

Resources Mentioned:

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 Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.

Don’t forget to share your favorite episodes on social media! 

Follow 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.