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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. EP312 Check Up On Your Financial Health

EP312 Check Up On Your Financial Health

Nov 28, 2023

Are you equipped to handle the complexities of managing debt and navigating financial emergencies? In this episode, I dive into the crucial aspects of financial health, focusing on debt management and emergency preparedness. November, being Financial Literacy Month in Canada, serves as a timely reminder to assess and enhance our financial literacy, a key component of overall financial wellness.

Join me as I explore the theme of this year’s campaign, "Managing Your Money in a Changing World," and discuss practical tips and strategies for dealing with debt, creating budgets, and setting up emergency funds. I’ll cover the importance of understanding your financial rights, the benefits of having a solid plan for debt repayment, and ways to increase income and reduce expenses. Plus, I’ll offer insights on how to navigate financial emergencies, from contacting financial institutions to considering mortgage deferrals and credit card payment holidays.

"Managing debt is one of the key consumer building blocks that leads to greater financial resilience." - Tracey Bissett

This Week on Young Money:

  • The significance of financial health checks and understanding debt management.
  • Strategies for creating budgets, paying off debts, and avoiding additional debt.
  • Tips for setting up an emergency fund and reducing expenses.
  • Guidance on navigating financial emergencies, including mortgage relief options and credit card payment holidays.
  • The importance of seeking professional financial advice and being cautious of misleading information.

Key takeaways:

  1. Get a pulse on your financial health. 
  2. Manage your debt.
  3. Optimize your financial health.
  4. Know your financial rights.
  5. Create a budget.
  6. Save and invest.
  7. Get help when you need it.

Resources Mentioned:

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