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Mo' Money Podcast

Updated 2 months ago

Business
Education
Investing
Entrepreneurship
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Millennial money expert, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse interviews top personal finance & business experts (John Lee Dumas, Chris Guillebeau, Bruce Sellery, Preet Banerjee), celebrities (Perez Hilton, Scott McGillivray, Farrah Abraham), as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, earn more money, become debt-free and live a more fulfilled and balanced life.New episodes air every Wednesday. For helpful resources, blog posts and podcast episode show notes, visit jessicamoorhouse.com. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions.

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Millennial money expert, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse interviews top personal finance & business experts (John Lee Dumas, Chris Guillebeau, Bruce Sellery, Preet Banerjee), celebrities (Perez Hilton, Scott McGillivray, Farrah Abraham), as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, earn more money, become debt-free and live a more fulfilled and balanced life.New episodes air every Wednesday. For helpful resources, blog posts and podcast episode show notes, visit jessicamoorhouse.com. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions.

iTunes Ratings

95 Ratings
Average Ratings
77
8
5
2
3

Positive vibes!

By mohanadmk - May 03 2019
Read more
Always lovely hearing Jessica

Refreshing

By Elysian78976 - May 14 2018
Read more
Finance in language I can understand! Thank you

iTunes Ratings

95 Ratings
Average Ratings
77
8
5
2
3

Positive vibes!

By mohanadmk - May 03 2019
Read more
Always lovely hearing Jessica

Refreshing

By Elysian78976 - May 14 2018
Read more
Finance in language I can understand! Thank you
Cover image of Mo' Money Podcast

Mo' Money Podcast

Latest release on Jul 11, 2020

Read more

Millennial money expert, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse interviews top personal finance & business experts (John Lee Dumas, Chris Guillebeau, Bruce Sellery, Preet Banerjee), celebrities (Perez Hilton, Scott McGillivray, Farrah Abraham), as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, earn more money, become debt-free and live a more fulfilled and balanced life.New episodes air every Wednesday. For helpful resources, blog posts and podcast episode show notes, visit jessicamoorhouse.com. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions.

Rank #1: 137 Being Smart with Your Debt & Credit - Lisa Zamparo, CPA & Financial Strategist (Millennial Money Meetup #4 Live Recording)

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For my 4th Millennial Money Meetup (and my last one for 2017), I hosted the event once again in downtown Toronto selling out tickets in only a few weeks to 50 attendees. This event was sponsored by Manulife Bank (thank you for making this event possible during Financial Literacy Month) and featured the special guest Lisa Zamparo, a CPA and financial strategist. The theme for this event was debt and responsible credit card use, just in time for the holidays. This is the live recording of Lisa and I's discussion on the subject as well as audience Q&A.

For full episode show notes visit: https://jessicamoorhouse.com/137

Dec 08 2017

52mins

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Rank #2: 051 Money Lessons from a Money Guru - Gail Vaz-Oxlade, TV Personality & Author

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The one and only Gail Vaz-Oxlade and I chat about her career as a personal finance guru, TV host and best-selling author. She also shares her top money tips for getting rid of debt, kicking bad financial habits to the curb and leading a more balanced life.

Long episode description:

This episode of the Mo’ Money Podcast is brought to you byWealthSimple. To learn more about the the fastest-growing automated investing service in Canada and to get your special $50 bonus when you open a new WealthSimple account, go to: wealthsimple.com/jessicamoorhouse.

Before I even recorded my first podcast episode almost a year ago, there was one guest I always dreamed of interviewing. At the time I thought it was just that, a dream, but one year and 51 episodes later it’s now a reality!

I’ve been a huge fan of Gail Vaz-Oxlade for years. I obsessively watched Til Debt Do Us Part when I was 24, broke and living in a basement with two equally broke roommates. It was her say-it-like-it-is attitude and helpful advice that motivated me to save as much as I could and stick to a budget during those tough years. I am so thankful for her show and books, and I know I wouldn’t be as financially on track today if it weren’t for her.

I am also thankful that I got the gumption to ask her to be on my podcast early this year, because I think I got her right in the nick of time! Gail has had a long and successful career as a money guru, and she mentions in this episode, she’s going to be taking a step back to focus on other opportunities.

I hope you love this episode as much as I do! And I ardently encourage you to check out some of her helpful resources, her awesome books (Money Talks is a great read!), and join her community on Facebook. And make sure to check back here next week (or subscribe to my email list) for my final episode of the season where I’ll be doing a special solo episode and giving away some prizes to mark my one year podcast anniversary!

Helpful Resources & Tools

Gail’s Books You Need to Read Right Now

Follow Gail on Social

Shownotes: jessicamoorhouse.com/51

May 25 2016

38mins

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Rank #3: 089 How to Save Half Your Income Like a Pro - Desirae Odjick, Blogger at Half Banked

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Desirae Odjick, the blogger behind Half Banked, shares her personal finance journey and best money tips for saving and investing for millennials.

Long description:

I know I said Desirae Odjick, the blogger behind Half Banked, is like a mini-me, but I think what I really meant is she's like a sister from another mister. Once we started chatting, it's like we'd already knew each other, and it was such a treat for me to interview her after following her blog for so long.

In this episode, we talk about it all. We touch on how her mom paid her to read personal finance books (which sounds like a dream, but I'm obviously a huge nerd), why she started her blog, how she's on a journey to save half her income, and how she budgets the "low tech" way with a good ol' budget spreadsheet.

We also talk a bit about investing, something I think a lot of millennials are afraid to start because they're either afraid of the risk or just don't know where to start. Luckily, Desirae created a great foundational (and free) course to get anyone started on their investing journey. She also mentions that she invests with Wealthsimple, one of the leading robo-advisors in Canada, which is one route you may want to look in to. And if you sign up with Wealthsimple, you can get a $50 bonus when you sign up with them.

Desirae has a number of other super helpful resources to help anyone just starting out with taking control of their money, so I've listed them all below.

I've also recently made a free email course, called the Get Your Financial Life Right Challenge, that goes through all the basics of personal finance in 10 days. Sign up to get your first email right away!

Helpful Resources You Should Check Out

Follow Desirae on Social

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/89

Feb 08 2017

29mins

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Rank #4: 003 The Shopping Ban - Cait Flanders from Blonde on a Budget

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Cait Flanders from the popular personal finance blog Blonde on a Budget and I talk about her recent debt pay-off, her shopping ban and her new simplistic lifestyle.

Long episode description:

I really looked forward to having Cait Flanders from Blonde on a Budget on my podcast. I think she was actually one of the first guests I approached to be on the show and she said yes right away (thanks Cait!). Not only is Cait one of my all-time favourite personal finance bloggers, we’ve also become really great friends over the past few years. She is seriously just as genuine in-person as she is on her blog, which is why I think we get along so well. I’m a give it to me (and give it to you) straight kinda gal and Cait is definitely one of the most honest people and bloggers I know. Not many people could write about getting themselves out of debt and embarking on a shopping ban like she does.

A bit of background on how this episode came together, I actually recorded it on site in Vancouver. I went to Vancouver in March to visit my family and while I was there I had a bit of free time. So, I asked Cait to come over and we recorded this episode together. I was pretty nervous because this was the first time I’d ever used all of my podcast equipment by myself (I previously relied on my audio engineering husband), but luckily I didn’t mess anything up and it went pretty smoothly.

Besides Cait being a friend and a favourite blogger of mine, the big reason I wanted her to share her story on my podcast was because it is so relatable. She racked up a bunch of credit card debt, had to move back in with her parents, then started blogging about her situation as motivation to get out of the hole she dug herself. And she did it, and continues to live a more financially responsible lifestyle which includes a shopping ban and living like a minimalist.

We mentioned a few resources on the show, so I wanted to include them below. And if you’re just getting into personal finance and budgeting yourself, I highly recommend checking out Cait’s new Mindful Budgeting Program below. It’s a super handy tool to help you start budgeting with your best foot forward!

Mentioned on the show

Helpful budgeting tools

Shownotes: jessicamoorhouse.com/3

Jun 03 2015

34mins

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Rank #5: 077 Listener Series - How Steve Saved Up $3 Million for Retirement Working a Regular 9 to 5

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Think you can become a millionaire by working a regular 9 to 5 job? I know I have a lot of guests on the show who promote the benefits of entrepreneurship and working for yourself to get ahead financially. But for this Listener Series episodes, I chat with Steve Cousins from Arkansas about how he was able to reach financial freedom by working as an employee for the same company for almost 40 years.

I know, I know, many of us Millennials may think that Steve's story sounds exactly like the advice our parents gave us. Go to university, get a job, work hard, save and contribute to your retirement fund, then you'll be able to retire in style. This was a way more common path for Baby Boomers and Gen Xers, but I don't think it's impossible for us Millennials.

When talking with Steve, it becomes clear that that's not exactly the path you need to take to grow in your career. You can't just get any degree. You need to get one that has a high demand for skilled workers.

You can't just work hard. Everyone works hard. You need to realized when it makes sense to stay at a company and when it doesn't. Just like he said, he encouraged some of his co-workers to leave his company because he knew that if they stayed, they wouldn't move up as fast compared to if they went to another company.

And lastly, you can just save and contribute to your RRSP or 401K. You need to live frugally, not try to keep up with the Jones', invest wisely and have a plan to continue to earn money during retirement.

I absolutely love how Steve has become this serial entrepreneur with 4 different jobs now that he's retired. And it's not that he needs the money or is working 24/7 now. He gets to work when he wants to doing what he wants to.

If that's not living the dream, I don't know what is! Thanks Steve for sharing your story with me.

Got a story that you think would be good to share on an episode on of Listener series? Please email me!

For more podcast episodes, check out the Podcast page.

Shownotes: jessicamoorhouse.com/77

Nov 24 2016

34mins

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Rank #6: 014 Climbing Out of Debt by Living like a Frugalista - Catherine MacLean, Blogger at Plunged in Debt

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It's not easy being in debt while supporting a family. Catherine MacLean from Plunged in Debt and I talk about her debt repayment plan, her new frugal lifestyle and what tips and tricks she uses to cut back on spending to balance her budget.

Long episode description:

In this episode I talk to Catherine MacLean from the personal finance blog Plunged in Debt. From the name of her blog, you can guess what it’s focus is on. Catherine and her husband have a huge amount of debt to pay off, and it hasn’t been easy. On top of that they are a young family with a 3-year-old daughter to provide for. 

Fortunately, Catherine is one financially savvy lady and writes about all the different ways she’s found to cut back and save on the little things. If you’re in debt and need some motivation to stick to your budget and kick your debt to the curb, you definitely need to check out Catherine’s blog (and listen to our podcast episode).

In our conversation, Catherine and I mentioned a few of her most notable blog posts, so here they are below for you to check out. I’ve also given some shout outs to some iTunes reviewers, so check below to see if one of them is you!

Blog Posts Catherine Mentioned

Shownotes: jessicamoorhouse.com/14

Aug 19 2015

27mins

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Rank #7: 103 How to Be Awesome, Not Broke - Garrett Philbin, Financial Life Coach

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I talk money, balance, travel, entrepreneurship and more with millennial financial life coach Garrett Philbin (one of the happiest, most positive people I know!). 

Long description: 

If you're looking for an upper of an episode, something to get you pumped to tackle your life and finances, my guest Garrett Philbin, financial life coach of at Be Awesome, No Broke, is just what the doctor ordered.

He doesn't just have the perfect radio voice, he literally exudes positivity. It makes sense why he ditched his career in the music business to focused all of his energy and talent in to helping others with their money and life issues.

And similar to what I'm doing right now, he's on his way to becoming an Accredited Financial Counsellor. I may have convinced him after recording this episode back in the fall to look into the American version, and now he's on his way to finishing the program.

We talked about a lot of awesome things in this episode, including Garrett's jump into entrepreneurship, his soul-searching road trip and the deeper reasons why we all struggle with money. Seriously, if after listening to this episode you feel like this is the time in your life that you need to ask for help, Garrett is definitely someone who will be there if you ask.

Garrett's Top Blog Posts

Follow Garrett on Social

What's Your Money Personality?

I mentioned checking out my money personality quiz in this episode, and you can do so right here: jessicamoorhouse.com/quiz

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/103

Apr 12 2017

31mins

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Rank #8: 155 Practical Strategies to Pay Down Debt & Retire Early - Deacon Hayes, Author & Founder of Well Kept Wallet

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Want to learn how to become debt-free and financially independent? It doesn’t have to be one or the other, you can dig yourself out of debt and retire early. Just take it from Deacon Hayes from Well Kept Wallet who was able to pay of $52,000 in debt in only 18 months, then become financially independent and retire early with his family. If he can do it, why not you?

Long description:

Deacon Hayes, the blogger and podcaster behind Well Kept Wallet, was knee deep in debt to the tune of $52,000 in 2010. But instead of digging himself further and further into the whole, he decided to take responsibility and dig himself out.

He started by looking to the experts, other bloggers and authors that offered personal finance advice, and was able to implement their strategies to become debt-free in only 18 months!

Now, he’s all about educating others to do the same. But he doesn’t just focus on helping others become debt-free, he also wants to share how they can become financially independent and retire early too.

That’s certainly never something he thought he’d be able to accomplish, but now, in 2018, he is financially independent and technically an early retiree. But instead of drinking Pina Coladas on the beach somewhere, early retirement to him means being able to afford to do what he wants with each day. And what he wants to do is educate and inspire others to take control of their finances so they can live the lives they really want.

How to Become Debt-Free

So, in this episode we talk about a lot of things, but first let’s talk about debt repayment. Honestly, at the end of the day, to get a handle on your spending and debt, there are two simple things you need to do.

  1. Reduce your expenses
  2. Make more money

If you actually implement both things, you’ll be able to become solvent once again. It may take some time (longer than 18 months), but even if it takes a few years, these two things are key and they work!

Deacon also recommends the cash envelope system for reigning in spending, and having monthly money meetings with yourself or your partner to talk about your budget, your spending and net worth, and your future goals you’re working towards (and I totally agree!).

How to Become Financially Independent

Now, let’s talk early retirement. In order to achieve financial independence, there are three paths you can follow (though technically you don’t have to pick just one, you can do a combination or all three):

  1. Invest in real estate
  2. Invest in the stock market (no more than 10% individual stocks, then diversify your portfolio with index funds and ETFs)
  3. Earn more money through entrepreneurship

And to help guide you and give you examples on how to do this, Deacon share real-life case studies on his website.

Get His Course for Free

Want to take Deacon’s “Debt Free in 18 Months” course for free? It’s valued at $97, but you can sign up for free by going to: wellkeptwallet.com/retire

For full episode show notes visit https://jessicamoorhouse.com/155

Apr 18 2018

31mins

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Rank #9: 219 How to Tackle Debt & Better Understand Credit - Millennial Money Meetup #6 Live Recording

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For my 6th Millennial Money Meetup that took place on Nov. 19, 2019, in Toronto, I was able to once again celebrate and promote Financial Literacy Month in Canada thanks to the help of event sponsor Capital One.

For this meetup, I was joined by a panel of financial experts: money expert and financial journalist Rubina Ahmed-Haq, credit expert and author of The Credit Game Richard Moxley, and Patrick Ens, Head of Customer Acquisitions at Capital One. The theme for this event will be debt & credit, something we’ve all struggled with (or still are) and can learn more about.

For full episode show notes visit https://jessicamoorhouse.com/219

Dec 05 2019

46mins

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Rank #10: 052 30 Life Lessons I Learned Before Turning 30 - Jessica Moorhouse

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In the final episode for season 2 of the Mo' Money Podcast, I do a special solo show to reflect on the 30 biggest lessons I've learned over the course of my 30 years on Earth in terms of money, life and balance.

Long episode description:

This episode of the Mo’ Money Podcast is brought to you by Lowest Rates, who are providing $250 for today’s giveaway! To find the lowest rates when it comes to mortgages, insurance and credit cards visit LowestRates.ca.

Today is a pretty big day for me. It’s my one year anniversary of the Mo’ Money Podcast (with 52 episodes in the frickin’ can!), it’s the end of season 2 of my podcast (season 3 to resume in September), and this week is my birthday week. I officially turn 30 on Saturday, but in my mind my birthday lasts a full week. 

Now, this very special solo podcast episode is based on my blog post about the 30 life lessons I’ve learned before turning 30. I thought it would be cool to not just write about this, but also to explain what I’m talking about verbally. Honestly, as much as I love to blog (I mean I’ve been at it for 4 1/2 years now), I really do feel more myself when podcasting. Maybe it’s because there’s no real room to over think things and I can just say exactly what’s on my mind freely. In any case, I think I might do a few more of these blog posts turned podcast episodes in the future. Plus I realized I really miss doing solo shows.

Shownotes: jessicamoorhouse.com/52

Jun 01 2016

41mins

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Rank #11: 215 How to Master Your Money - Sandy Yong, Author of The Money Master

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I met Sandy Yong, author of the soon-to-be-released book The Money Master: Inside Secrets On How to Make Your Money Grow and Stay Safe, about a year ago at the 2018 Canadian Personal Finance Conference. She told me she was working on a book and I soon found out we had very similar personal finance journeys.

Having been brought up in a very frugal family, and having finished her business degree during the Great Recession, Sandy worked hard to pay off her student loan and make her way in the corporate world. She soon realized that being frugal was only one part of mastering your money. You also needed to set financial goals, invest wisely and have a clear action plan for all your hard-earned money.

That’s what led her to discover personal finance books which eventually inspired her to write her own book to reflect her journey and key things young Canadians should know about managing their money better.

In this interview, we touch on what some of those key things are, such as the benefits to passive investing instead of investing in high-fee actively-managed mutual funds, while also discussing some new players in the finance world like investing in the cannabis industry, cryptocurrency and robo-advisors.

Her book isn’t out yet, but you can pre-order your copy today. I’m also going to be giving away copies of her book when it’s out, so make sure to enter to win in my massive book giveaway!

Visit jessicamoorhouse.com/contests to enter to win a copy of his book!

For full episode show notes visit https://jessicamoorhouse.com/215

Nov 20 2019

44mins

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Rank #12: 109 How to Manage Your Money as a Millennial - Erin Lowry, Author of Broke Millennial

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Millennials have a different way of thinking and handling money compared to Generation X and the Baby Boomers, and Broke Millennial author Erin Lowry shares the dos and don'ts of money management for Generation Y in this interview about her book, her blog and her journey to becoming one of the top millennial money experts around.

Long description:

Is there really that big of a difference between managing your money as a millennial compared to being a Gen Xer or Baby Boomer? As a millennial who has read numerous personal finance blogs and books, have attended my fair share of finance conferences, and have been writing and interviewing others on personal finance for over 5 years now, my answer is yes, yes and a BIG yes!

Luckily, I'm not the only one who thinks this way and Erin Lowry, the blogger behind BrokeMillennial.com, wrote a book (also named Broke Millennial) that focuses on money for millennials specifically.

Although when it really comes down to it, the principles of personal finance don't really change generation to generation. But the fact still remains, we are a very different generation than those before us. We experienced different things and sometimes speak a different language. And that's why I found it so refreshing to read Erin's book that really got me. Got my struggles with money and offered practical and modern solutions. 

Grab a Copy of Erin's Book Broke Millennial

If you want a book that focuses on millennial money issues specifically, and outlines how to tackle your road blocks with money, how to choose the best budgeting style for you, how to negotiate a better salary and much more, grab a copy of Erin's newly released book Broke Millennial: Stop Scraping By and Get Your Financial Life Together.

Check Out Erin's Best Blog Posts

Follow Erin on Social

Join Me for a Live Webinar!

I mentioned in this episode about an upcoming webinar I'll be hosting with friend and business partner Jaclyn Phillips. We'll be doing a live webinar all about how to master your money and fitness on Wednesday, May 31 at 7pm ET to kick-off the launch of our Rich & Fit Bootcamp course.

Registration for the course will open right after the webinar, and promptly close on Wednesday, June 7 (that's right, we're only opening the doors for 1 week!). And a big reason you'll want to join us for the webinar is because not only will we discuss more about the course specifically, but we'll also be awarding 3 scholarships to the course to 3 lucky live webinar attendees.

Make sure to save your seat for the webinar by clicking here »

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/109

May 24 2017

48mins

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Rank #13: 234 How to Reach FI at 32 & Why Not to Pay Your Mortgage Early - Kornel Szrejber, Host of the Build Wealth Canada Show

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I finally have Kornel Szrejber from Build Wealth Canada on the show! 

As a Canadian, I’m always considering what the right financial advice is so I can, in turn, curate the best personal finance content for you guys. Kornel’s mission is very similar to mine, only he’s FI and paid off his mortgage by 32, which is of course incredible! 

On the podcast today we’re talking about how to become financially independent (FI) and learning a little more about what the path is toward FI. Kornel and his wife lived together in their twenties and focused their dual-income household toward paying off any debts and their mortgage. In achieving his goals he is now focused on his early retirement and navigating life as a young retiree. 

Toss the headphones on and tune it for this energetic interview with Kornel and learn a few ways on how you can create a financially independent life for yourself!

For full episode show notes visit https://jessicamoorhouse.com/234

Mar 25 2020

52mins

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Rank #14: 131 How to Build Wealth by Changing Your Money Mindset - Kelley Keehn, Author & Personal Finance Expert

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What's your money mindset and how does it affect how you perceive building wealth? I chat with Kelley Keehn about this and more in this episode.

Long description:

Personal finance expert and author Kelley Keehn chatted with me for this fabulous episode of the podcast, and I couldn’t be happier! I love that her mission is to make people feel good about money! Just like she said in our episode, when people feel good about their money, they are better people and thrive in other areas of their lives.

I wholeheartedly agree. When you feel confident in your finances, you feel confident in your life. You start making better and longer-term decisions, instead of decisions based on survival or the immediate future.

We also go a bit deeper in our interview and talk about the different money mindsets people have. Like how they can either help you build wealth and live a life you want, or they can impede you from experiencing your full potential.

I know that my money mindset has evolved over the years, and that’s the amazing thing too. Just because you have say a scarcity mindset, doesn’t mean you can flip the switch into an abundance mindset. Everything is changeable and fixable, you just have to be self-aware and start making small changes to make a big change in the end.

Learn More About Kelley

For full episode show notes, visit https://jessicamoorhouse.com/131

Nov 22 2017

38mins

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Rank #15: 173 How to Pay Off Meaningful Debt (and Stay Debt-Free) - Jessi Fearon, Financial Coach

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Jessi Fearon was able to pay off $55,000 in debt in 2 years! Yes, I know, we've all seen headlines like this before, and usually you find out after reading the full news article that they were able to pay off that debt because they got a windfall, their parents helped them, or they earn over 6 figures at their job. Well, that's no Jessi' story. Her and her husband were able to pay that debt off by making some major sacrifices and hustling to make it happen. Now Jessi is a financial coach on mission to help others conquer their finances too!

Long description:

For this episode of the Mo’ Money Podcast, I chat with another Jessica who is also a financial coach! I’m talking about Jessi Fearon, who was able to pay off $55,000 in 2 years with her husband, while raising a family of 3 little ones. After being a stay-at-home more for a few years, Jessi now spends her days coaching others how they too can build a solid financial foundation and kick their debt to the curb (for good!) just like her family was able to.

What I love about this episode, and Jessi for that matter, is that she is an open book when it comes to her numbers. Most of the time when you see some headline about someone who paid a big amount of debt in a short amount of time, you eventually find out it’s because they got a big windfall, their parents helped them out, or they earn a high salary. That’s not Jessi’ story at all. For her, it came down to making some tough choices, such as taking on some extra jobs like being a server or dog walker to earn some extra money, or having to trade in her dream truck for a more cost-efficient car to put the difference onto her debt.

Basically, if you’re dealing with debt and need some motivation, this episode is going to make you want to get to work right away and start living a better life!

For full episode show notes, visit https://jessicamoorhouse.com/173

Oct 24 2018

48mins

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Rank #16: 204 Your Investing Questions Answered - Jessica Moorhouse

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For my final episode of Season 8 of the Mo’ Money Podcast, I’ve got a solo episode for you, and it’s all about answering your investing questions. I get investing questions all the time at events I organize or speak at, via email or even through social media. So, since I just did my Level Up Your Moneyevent with Erin Lowry which included a Q&A (but wasn’t part of the recording we did), I thought I would do an episode focused solely on answering all your most pressing investing questions.

Now, as a disclaimer, nothing in this episode should be considered financial or investing advice. Heck, nothing on this website or any content I create should be considered advice. It is simple information, facts and opinion. And when it comes to investing specifically, it’s hard to even give a straight answer.

You may have noticed that in the panel discussion recording, and some attendees voiced their frustration. I totally get it, but unfortunately, there’s no such thing as one-size-fits-all investment advice or recommendations. We’re all at different stages in our lives, with different incomes, circumstances, goals and time horizons. It would be ridiculous to say “Do this and you’ll be fine.” And if someone does tell you that, remember, even if they are an investment advisor, that is their opinion on what they think you should do. Nothing is guaranteed when it comes to investing, and it’s not black and white.

Paying Down Debt. vs. Investing: Which One Should You Do First?

If you’ve got consumer debt (credit cards, line of credit, etc.), focus on paying that all off before investing because it’s unlikely you’ll be able to earn the same or higher interest on your investments that those debts are charging you. If you have student loans or other low-interest debt like a car loan or mortgage, I would say pay down debt and invest. The interest you’re paying is most likely below 5%, and 5% or higher is a very possible return you could make on your investments. Also, no matter what type of debt you have, make sure you have a fully funded Emergency Fund before you start investing.

How Do You Know When You’re Ready to Start Investing?

You’ve got to have that solid financial foundation first before you start investing. That means you have a budget, you’re tracking your spending and net worth regularly, you have a debt-repayment plan, you have a fully funded emergency fund, and have outlined all of your financial goals (short and long-term) first.

How Much Money Do You Need to Start Investing?

There’s no perfect number, but I say once you’ve got your financial foundation set, then work on saving up $1,000 as your initial contribution to your investment plan. I say $1,000 because most robo-advisors actually require that as a minimum initial contribution, and some discount brokerages have similar requirements.

Is Wealthsimple a Good Robo-Advisor?

I get this question a lot, and what I think the real question is is “What’s a good robo-advisor” or “What robo-advisor should I invest with?” Here’s the thing, I do personally like Wealthsimple. I invest with them and have for about 3 years and I like their platform, customer service, and have had an overall good experience with them. But I also invest with Justwealth, and similarly I have had an overall good experience with them too. Heck, I even invest with RBC InvestEase (though a very tiny portfolio with them since I mainly wanted to test them out since I worked with them on a campaign), and I actually really like their platform and customer service to.

The reason so many people think of Wealthsimple first is because they are one of the biggest robo-advisors in Canada, they were one of the first, and they also hands-down do the most marketing. And let’s be honest, their branding is amazing. It’s millennial-focused, it’s beautiful and as someone who used to work in marketing, they are doing everything right.

But, just because I choose to invest with Wealthsimple, or Justwealth, or RBC Investease, doesn’t mean you should. It’s not that easy. You need to do the work to see which one makes sense for you. You need to do your research on each company, the portfolios they offer, the fees they charge, the ease-of-use of their platforms, the quality of their customer service, to see which place makes the most sense to invest with. That’s what I did, and that’s what you as a responsible and smart investor need to do to.

Where to start is by checking out my recommendations page that includes the full list of robo-advisors in Canada, plus two comparison sites that can help you see the difference between all of them (Hardbacon and Autoinvest).

Real Estate Investing: What Do You Think?

The home you live in is not an investment. It’s part of your net worth, but I wouldn’t consider it a real estate investment because you are living in it. This may be a controversial take, but that’s just my point of you. If you own real estate and rent it out, then yes that would be considered an investment.

Now, if you are investing in real estate, you need to determine what portion of your overall investment portfolio is it? Typically, real estate is considered an “alternative investment”, because the traditional investment asset classes are cash, stocks and bonds. So, if real estate is an alternative, most investment experts suggest not to invest more than 5-10% of your portfolio in alternatives.

All I want to really say is that if you choose to invest in real estate, don’t just invest in real estate. Invest in those traditional asset classes, invest in the stock market, make sure your portfolio is diversified. In other words, never put all of your eggs in one basket.

If I Have a Work Pension, Do I Still Need to Invest on My Own for Retirement?

Short answer, of course you do. Even though you have a pension, most likely it won’t be enough, in addition to getting your CPP and OAS payments, to cover your retirement income. To learn more about pensions, I highly suggest listening to episode 180 since it goes in-depth about retirement planning and pensions.

How Much Do I Need to Save Up for Retirement?

One million? Two million? Most people just want a straight up answer but it’s not as simple as that. First, you need to define what your retirement looks like, and then determine how much that will cost in today’s dollars on an annual basis. Then figure out how long you’ll most likely live in retirement. Then make the calculations that include an average inflation rate. Bam, you’ll get a number. The calculation itself is fairly simple, however that doesn’t mean that’s the exact amount of money you’ll need because it’s difficult to predict the future and your future needs. That’s why you need to constantly look at your financial plan and retirement plan every year and adjust when appropriate. I’d also like to recommend to amazing books on retirement income planning:

Should I Participate in My Employer’s RRSP Program?

If they match dollar-for-dollar to your contributions then yes. Even if they have you invested in high-fee actively-managed mutual funds, it’s still worth it because it’s free money from your employer.

I Want to Start DIY Investing, How Do I Build My Portfolio?

Quick answer, you can either look at model portfolios other investors or bloggers share (but please do your due diligence first), you can build your own by finding ETFs that match the benchmarks you want to replicate, or you can take a look at the portfolios offered by robo-advisors and just replicate their portfolios yourself.

How Are My Investments Protected?

Your investments aren’t protected through CDIC or when there are ups and downs in the market, but if you’re more concerned about your robo-advisor, investment firm or discount brokerage become insolvent and you losing your investments, you are protected under the Canadian Investor Protection Fund (CIPF).

What’s the Difference Between Index Funds & Index-Based ETFs?

I share way more about this in my investing course, but basically they are two different investment products. Index funds are a type of mutual funds that track the broad market index, and index-based ETFs are more similar to a stock but they also track the movements of the broad market index. So they are similar, but not the same. Also ETFs are typically cheaper.

Should I Invest the Money I’m Saving for a Down-Payment on a House?

In general, no. You should keep it liquid in cash if you plan on buying a place in the near future (so stash it in a high-interest savings account). But, if you do want to invest, invest in something conservative like GICs or a balanced portfolio with a good portion invested in fixed income.

For full episode show notes visit https://jessicamoorhouse.com/204

Jun 06 2019

47mins

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Rank #17: 022 This Is How You Make Your Budget Sexy - J. Money, Blogger at Budgets Are Sexy

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J. Money from the popular personal finance blog Budgets Are Sexy and I talk about making money online, getting fired, giving away $90,000 and making budgets sexy again.

Long episode description:

J. Money from Budgets Are Sexy and Rockstar Finance has been in the personal finance game since 2008, so he knows what’s going on when it comes to talking money. In this episode, we discuss how he became a blogger, why getting fired was the best thing that ever happened to him and how he’s been able to give back in a big way.  Not only is J. Money just a super cool, genuine guy — I owe him a big one because talking to him for this episode was the kick in the pants I needed to move forward with my rebrand and future money coaching business. You know when you have an idea, but are just too scared to take action because it’s not perfect yet? I’m a big perfectionist, and it’s definitely held me back from trying new things and taking risks that could help me in the long run. But J. Money is such a an inspiring guy with everything he’s accomplished, I’m gonna take a chapter out of his book and just do it!

So thanks J. for motivating me to start my next chapter. You rock and it was a pleasure having you on the show!

We mentioned a few things in this episode, so I’ve listed everything below. I’m also including J.’s side hustle story series even though we didn’t talk about it because it’s just too cool not to mention on here.

Submit Your Side Hustle Story

  • Got a unique way to make extra money outside of your day job? Submit your cool side hustle story for a chance to be featured on Budgets Are Sexy. I even submitted my story about teleprompting!

Notable Blog Posts by J. Money

Shownotes: jessicamoorhouse.com/22

Oct 14 2015

26mins

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Rank #18: 188 How to Get Rich by 30 - Lesley-Anne Scorgie, Author & Personal Finance Expert

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It was one fateful day when a 17-year-old Lesley-Anne Scorgie went viral because of her financial acumen. Not only did she get featured in newspapers across Canada, she also landed a spot on the Oprah Winfrey show because she aspired to become a millionaire by 25 and was well on her way to reaching that goal.

As Lesley-Anne says in our interview together, the Oprah effect is real and her short segment on the show catapulted her career into one Canada’s top money experts today, with four books under her belt, regular TV appearances and speaking gigs. Not only that, she launched her own money coaching business called MeVest, and focuses on teaching others how they can take control of their financial future like she did.

In this episode, we discuss what inspired her to get into personal finance at such a young age, what she learned from striving towards an aggressive goal in her 20s (spoiler, she wishes she enjoyed her 20s a bit more), and what some of the most common concerns and struggles her money coaching clients have.

Grab Copies of Lesley-Anne’s Books

For full episode show notes, visit https://jessicamoorhouse.com/188

Mar 13 2019

42mins

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Rank #19: 110 How to Earn Extra Income by Getting a Side Hustle - Nick Loper, Founder of Side Hustle Nation

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At a certain point in your personal finance journey, you'll realize that there's nothing left to cut out of your budget and you're living as frugally as you can. At that point, it's either time to look for a higher paying job or joining a number of others by getting yourself a side hustle. In this episode I chat with Nick Loper, founder of Side Hustle Nation, about how to get a side hustle and how he was able to turn his love for side hustles into his full-time gig.

Long description:

It seems like everyone has a side hustle these days, or is thinking about starting one. Which is why I thought the perfect guest to have on the Mo' Money Podcast would be Nick Loper from Side Hustle Nation. I met him after I spoke at FinCon's Ignite last year, and I was in total awe of his podcast and the insanely loyal audience he grew. But the best thing is, he's seriously the nicest, humblest guy!

Now, I've kind of always had a side hustle. It started with being a teleprompter operator for the news, PAing on film sets, then eventually I started this blog to see if I can earn some money. Well, after almost 6 years, I was able to finally turn this side hustle into my full-time hustle, so if you're ever wondering whether it's worth it to start a side hustle and spend some of your extra hours on building a side business — just try it. There's no harm in trying a few things out and seeing if they work. And there's no shame in failure as long as you walk away with a lesson learned.

In this episode, Nick also shares his personal story with getting his first side hustle and how he eventually became an online entrepreneur teaching others about how side hustles could take them to the next level with their financials. As I always tell people, at a certain point, you'll find with your budget that there's nothing left to cut out. And at that point, it's time to start looking at other ways to earn some extra income.

I hope you enjoy this interview with Nick, and make sure to scroll down below for more info about my Rich & Fit Bootcamp course, or click here to visit the registration page.

Check Out Nick's Best Podcast Episodes

Check Out Nick's Best Blog Posts

Follow Nick on Social

Register for the Rich & Fit Bootcamp

I mentioned in this episode that myself and business partner Jaclyn Phillips have finally launched our Rich & Fit Bootcamp course together, and I want to share all the juicy details with you! First, visit the registration page to learn more and to register before the cut off date of Wednesday, June 7. But also, check out our webinar replay to find out what we'll be teaching and what the course platform will look like when you get access to it.

And if you have any questions and aren't sure if this is right for you, please email me, happy to chat!

Learn more about the Rich & Fit Bootcamp

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/110

May 31 2017

32mins

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Rank #20: 165 Get Paid Your Worth: Negotiation Tips - Kathlyn Hart, Salary Negotiation Coach

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For my Season 6 finale episode, I chat with Kathlyn Hart, podcast host of The Big Leap Show and salary negotiation coach. We talk about earning what you deserve, practical ways to ask for a promotion and/or raise, and recognizing when it's time to jump ship for the chance at a higher salary with a different company.

As I mentioned in this episode, I'll be taking the next two months off for a much needed break, but I'll be back for Season 7 in September!

Long description:

It’s the Season 6 finale episode, but I’m ending things off with one hell of an inspiring and motivating episode! I chat with salary negotiation coach Kathlyn Hart about what to do (and not to do) to negotiate a higher salary so you can be paid your worth.

It’s actually pretty funny timing this episode because this time 2 years ago is when I asked my boss for a promotion and a raise. I thought I took all the right steps to level up my job and income, but little did I know I actually made a ton of mistakes. So many in fact that I ended up quitting that job.

Obviously, I don’t regret how things turned out. It gave me the push I needed to leave a job that wasn’t fulfilling to run my own business. And now, I’m a year and a half in to being an entrepreneur and I’m so thankful for it.

But, that being said, I sure wish I knew some of the tips and tactics Kathlyn shares in this episode when I was back working a 9 to 5. I wonder how things would have been different.

To sum up some of Kathlyn top tips, I’ve compiled them below in case you want to be brave and get paid better than you are now.

Salary Negotiation Beings in the Job Search

This was a big mistake I made early on. I always chose jobs and industries that were on the downturn or didn’t have any growth potential. Because of this, for most of my corporate life, I earned really low salaries and never got promotions or raises.

Well, what you’re supposed to do is pick a job and industry that are the opposite of that. As Kathlyn mentions, a project manager for a non-profit is going to be paid substantially less than a project manager for a Fortune 500 company. This is something you need to consider before applying for jobs, because it could be the difference of earning $50,000 or $150,000 per year.

Be Confident When Talking Salaries in Interviews

I always dreaded when the interviewer would ask me my salary expectations. Most of the time I was so desperate for the job, I always gave them my lowest possible number, and would always kick myself a few months later when I was in a role making less than I deserved.

Do not do this. Kathlyn has a strategy that focuses on your wish, your want and your walk. Those three numbers are your dream salary, the salary you’d be satisfied with, and the salary that would make you walk away from the job offer because it’s too low. Instead of starting with your lowest offer, ask for your dream salary. Of course, it’s important to back that number up with research, comparables from other jobs in similar sectors, and your skillset. But, if you present your ask with confidence and certainty, the interviewer will be more likely to see your value and want to lock you down for the job.

Be Okay with Walking Away

If you don’t feel like you’re earning enough at your current job, and you feel like you’ve done everything to bump up your salary but nothing’s working, it might be time to walk away. It’s no secret that the easiest way to increase your salary is by jumping ship to another company. Just make sure you’re prepared to ask for the salary you really want before accepting your next job offer.

Download Salary Negotiation Scripts

Download Kathlyn’s free scripts to practice with my texting earnmore to 44222

For full episode show notes, visit https://jessicamoorhouse.com/165

Jun 27 2018

47mins

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Big Announcement - Live Masterclass Starting July 15 & New Shop Page

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I've got some big news to share! Starting Wednesday, July 15, I'll be doing my Fix Your Finances Masterclass LIVE for 6 weeks. Enroll now and join me this summer to make some big moves with your money (because let's be honest, we're all still stuck at home, so why not make the most of it?).

For more info visit https://jessicamoorhouse.com/fixyourfinances

Not only that, I've just unveiled my Shop page on my website, that have 7 new budget spreadsheets and a bunch of other helpful financial resources to check out.

Check it out at https://jessicamoorhouse.com/shop

Hope you're having a great summer so far!

Jul 11 2020

5mins

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244 How to Support BIPOC Right Now - Jessica Moorhouse, Host of the Mo' Money Podcast

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Hello wonderful podcast listener! This is my final episode of Season 10 of the Mo’ Money Podcast, and I want to end this season by discussing something very important to me and quite honestly the human race right now. There are global protests both online and offline to fight against the systemic racism that exists in Canada, the U.S., and the rest of the world.

It’s 2020, and despite all the progress and innovation we’ve made as a society, racism still exists. Inequality still exists. Injustice still exists.

I have been so emotional all week. I’m heartbroken about the innocent lives that have been lost due to police brutality. I’m heartbroken that people of colour have suffered for so long while their white allies (like me) have done nothing to help. Enough is enough. I believe what’s happening right now is a tipping point leading to major change. And I for one want to take action.

One of the things I’ve done is made a choice to no longer support FinCon, a financial conference I’ve attended since 2014. You can find more info on my Twitter page, but let’s just say I am an anti-racist and I refuse to support anyone or any institution that does not uphold those basic values.

The thing with money is it has everything to do with race. Moreover, money can be used to make positive change and fight against racism. One way I’ve been trying to lend support to the black community and the protests is by donating money to various bail funds, victim funds and Black Lives Matter. I will also never be attending FinCon again and as I’ve just received my refund for that event, I will be redirecting those funds to another cause to help people of colour.

Right now isn’t the time to see how things play out or be afraid of not being liked. Right now is the time to speak up and be vocal. It’s time to condemn racism, support people of colour, and not just say you’re an ally, but prove it!

For myself, besides donating money, I’m going to continue to educate myself, I’m going to support more BIPOC businesses, and I will be making the next season of my podcast more diverse in terms of guests. It is something I’ve always tried to do, but just looking at the Season 10 line up, I know I can do way better.

If you want to take action also, below are some ways you can vote with your dollars, as well as a long list of fantastic BIPOC personal finance influencers to support. Please follow them, consume their content, and amplify their platforms. Their voices need to be heard.

Thanks for listening to this episode and supporting me in these 5 years of having the podcast! I’ll be taking a summer hiatus, and will be bringing back the podcast in late August or early September. To stay in the loop, you can follow me on social media or better yet sign up to my email list. I will most likely pop in and do a few special podcast episodes during the summer, but otherwise, I plan on taking this time to focus on a few projects I’ve had on the backburner and make more videos for my YouTube Channel.

Thanks again for listening and I’ll catch you back on the podcast soon!

For full episode show notes visit https://jessicamoorhouse.com/244

Jun 04 2020

30mins

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243 Making Sense of Money During the Pandemic - Lauren Silbert, VP, General Manager of The Balance

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We're here! This is it! We've arrived at episode 243, the last interview episode of Season 10 of the Mo' Money Podcast...and my 5-year anniversary of starting this podcast! It is actually insane that I started this show half a decade ago, have interviewed hundreds of guests, and am still going.

I do want to acknowledge that things have been very difficult in the world right now. I have a solo podcast episode that I will drop tomorrow to talk more about it, but if you follow me on Twitter or Instagram, then you already know my stance and my feelings about everything. It's been a trying week trying to focus on anything, but I think what's going on right now is so important for us to progress as a society.

But, that's not what this episode is about. For this last interview of the season, I have the amazing Lauren Silbert, VP, General Manager of The Balance (one of my favourite personal finance resources). I recorded this episode a month ago at the beginning of May, and we discussed how to make sense of money (and manage it the best way possible) during this pandemic.

I just learned that in Ontario (where I live), our State of Emergency status has been extended until June 30, so we are still in the thick of it. I have no idea what the rest of the year will look like, but if there's one thing I do know, it's what to do with your money during uncertain times. This is the time to preserve your capital, save up that emergency fund I always talk about, and avoid making any emotional decisions with your money.

Moreover, this is the time to start taking your finances seriously. I know it can feel overwhelming and stressful, but during chaos is the best time to try to create some stability in your financial life. So even though I'll be going on summer hiatus for the show (I'm sure I'll pop in with a few bonus episodes though), take this time to listen to other podcasts, read blogs and books, and make improving your financial literacy your number one priority.

For full episode show notes visit https://jessicamoorhouse.com/243

Jun 03 2020

42mins

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242 How to Master the Art of Self-Promotion - Meredith Fineman, Author of Brag Better, Speaker, Media Expert & Founder of FinePoint

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Brag isn’t a dirty word! Or at least, it shouldn’t be. That’s what Meredith Fineman, author of Brag Better, shares in this episode all about how to master the art of self-promotion.

Meredith is the founder of FinePoint, a leadership and professional development company focused on training women on bragging, a systemic issues issue she hopes to eradicate. She is also an entrepreneur, media expert and freelance writer who has written for outlets like the Harvard Business Review, Forbes, FastCompany, and Inc.

You see, if you don’t promote yourself and tell others what you’re good at and what you’ve achieved, no one’s going to ask! The advice that your work will speak for itself, unfortunately, isn’t true anymore (and who knows if it ever was true!). In today’s society, if you want to succeed in life and you’re career, you need to brag about yourself. And no, that doesn’t mean being arrogant or boastful in the negative way you may think.

It means knowing who you are, what you want, and understand how to get to where you want to go while also lifting others up at the same time. We dive deep into this topic in the second to last week of Season 10 of the podcast, so I hope you really enjoy it as much as I did interviewing Meredith!

For full episode show notes visit https://jessicamoorhouse.com/242

May 27 2020

47mins

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241 How to Write Your Own Money Story - Tara Falcone, CFP, CFA, Founder of ReisUP

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Money influences us all in different ways. Our childhoods and backgrounds specifically have a big impact on how we think, feel and manage money later in life. But ultimately, money is just a tool. It’s up to us to decide how to use it to write our own money story.

And my guest Tara Falcone knows this all too well. As she shares in this episode, she grew up in a low-income household in which money was scarce, compelling her to start working and earning money at a young age. Realizing that she didn’t want money to have such a tight hold on her adult life, she worked hard in school to get accepted to Yale and enter a career as an investment analyst in New York City.

After 4 years in the industry, she left to dedicate her time and knowledge to a larger audience by starting her financial literacy company ReisUP. She also got her Certified Financial Planner™ designation and became a Certified Financial Analyst® charterholder. Now, she offers financial literacy programming to universities to help educate students, as well as her own audience of followers.

But the most inspiring thing about Tara’s story is how she chose to use money as a tool of empowerment. Money used to restrict her family growing up, but she didn’t want that for when she eventually starts a family. That’s why she named her company ReisUP, to encourage others to rise up and take control of their financial future like she did.

For full episode show notes, visit https://jessicamoorhouse.com/241

May 20 2020

53mins

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240 Managing Your Debt During the Pandemic - Doug Hoyes, Licensed Insolvency Trustee & Author of Straight Talk on Your Money

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It’s been way too long since I first had Doug Hoyes, licensed insolvency trustee and co-founder of Hoyes Michalos, on the show! I’m talking years! He was first on the show to talk about consumer proposals and bankruptcies back in May 2016 for episode 49, and he’s back to talk about things to consider if you’re dealing with mounting debt during this pandemic.

Not only that, but he is now also an author with his book Straight Talk on Your Money, which we also discuss in this episode. What I enjoyed most about his book is his very unique perspective on some of the money myths or traditional financial advice we’ve all heard over the years. Since Doug has worked with a number of clients over the course of his career, he has seen almost every situation possible first-hand. If you haven’t read it yet, I’d highly recommend it.

There are some great sections on day-to-day money management and dealing with debt that I found so different in their take. For instance, a common piece of financial advice is to pay off either your most expensive debt or your smallest debt first. But maybe the best route to take is to pay off your callable or secured debts first since those debts are linked to assets that can be taken away.

For full episode show notes visit https://jessicamoorhouse.com/240

May 13 2020

49mins

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239 Financial Relief for Canadians - Preet Banerjee, Personal Finance Commentator & Author of "Stop Over-Thinking Your Money"

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Many Canadians are feeling the financial effects of the pandemic and as a response the federal government as launched several financial relief programs to help out. To explain what the different programs are and how eligibility works, I’ve got personal finance expert and author Preet Banerjee finally back on the show! If you’re a longtime listener of the Mo’ Money Podcast, then you’ll remember that Preet was one of my first ever guests on episode 17 in which he talked about his book Stop Over-Thinking Your Money, and made sure I got life insurance and a will after our recording (it works because I did!).

For full episode show notes, visit https://jessicamoorhouse.com/239

May 06 2020

41mins

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Is Right Now a Good Time to Invest? - Money Minute with Jessica Moorhouse

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Is right now a good time to invest? Yes! But also...so was a 6 months ago, a year ago, 10 years ago (you get the picture).

Remember this famous Chinese proverb: 

“The best time to plant a tree was 20 years ago. The second best time is now.”

– Chinese Proverb

The same goes for investing! Don't try to time the market, just get into the market and stay there. One of the best things I ever did was start investing when I thought it was the wrong time (in 2010 when the stock market started to recover). I thought I missed the boat and I was doing it all wrong. Cut to a decade later and no, I didn't do it wrong. I did it right by starting to invest as soon as I could afford to, and making regular contributions to my investments during all the ups and downs we saw in the past 10 years. 

So if you want to get started with investing, I highly recommend you start educating yourself more about it, gain some financial confidence, then go for it!

May 01 2020

6mins

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238 From NFL Player to Financial Planner - Jedidiah Collins, CFP, Ex-NFLer & Author of Your Money Vehicle

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Have you ever watched the show Ballers with Dwayne Johnson? I know, that doesn’t sound like the type of show I’d watch (I know nothing about sports!), but my husband was watching it one night and told me it was about an ex-NFL player who becomes a financial planner. Now that’s my kind of show!

Well, cut to present day and I have basically a real-life “baller” on the podcast! Jedidiah Collins played for the NFL for seven seasons, and studied to become a CFP on the off-season. Post-NFL career, he now owns his own financial services company, does public speaking and is on a mission to educate others how to make their money work better for them.

We get into what it was like playing for the NFL, earning those big game cheques, and how he was able to avoid being another sports star who ended their career with no savings in the bank. We also dive into his new workbook Your Money Vehicle that he developed to be an actionable guidebook for others to build their own financial plans and set themselves on the right path.

For full episode show notes visit https://jessicamoorhouse.com/238

Apr 29 2020

47mins

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More Flexible Criteria for the Canada Emergency Response Benefit (CERB) - Money Minute with Jessica Moorhouse

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This week, new (and more flexible) criteria for the Canada Emergency Response Benefit (CERB) was announced. That means that if you weren't originally eligible to receive the $2,000 benefit payout, you might be now!

Important Resources

Apply for CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application.html

FAQs about CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application/questions.html

Scenarios for Eligibility: https://toronto.citynews.ca/2020/04/01/faq-canada-emergency-response-benefit/

Info on COVID-19 Economic Response Plan: https://www.canada.ca/en/department-finance/economic-response-plan.html

Apr 17 2020

11mins

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237 Managing Your Money in Uncertain Times - Katie Dunsworth-Reiach, Author & Co-Founder of Smart Cookies

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Life is crazy sometimes. Back in 2009, when I was struggling to find a full-time job after university thanks to the Great Recession, I got an on-call job as a teleprompter operator for Global News thanks to my dad putting a good word in for me (he’d worked there for over 20 years).

It was honestly a god send because it meant I could earn a little money, pay off my student loan and start saving to eventually move out of my parent’s basement. Anywho, while I worked there (and I ended up keeping that job as a side hustle for 3 years) I would sometimes see the ladies from Smart Cookies appear on the news and share their personal finance wisdom. Cut to 2020, as we enter possibly another recession, I’ve got Smart Cookies co-founder Katie Dunsworth-Reiach on my podcast to talk about how to navigate your money during these uncertain times. And since her personal finance journey was majorly impacted from the last recession too, she has some amazing advice and food for thought in this episode.

Just remember, we’ve gone through many recessions in history before, and there will be many more in the future. It’s how you react and what actions you ultimately take during those hard times that will define your path.

For full episode show notes visit https://jessicamoorhouse.com/237

Apr 15 2020

36mins

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Canada Emergency Response Benefit (CERB) - Money Minute with Jessica Moorhouse

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This Monday, April 6, applications opened up to anyone eligible for the Canada Emergency Response Benefit (CERB). Even though the application process is incredibly simple and easy, finding out if you're eligible...not so much. I go through exactly how to find out if you're eligible for the $2,000/month benefit in this episode.

Important Resources

Apply for CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application.html

FAQs about CERB: https://www.canada.ca/en/services/benefits/ei/cerb-application/questions.html

Scenarios for Eligibility: https://toronto.citynews.ca/2020/04/01/faq-canada-emergency-response-benefit/

Info on COVID-19 Economic Response Plan: https://www.canada.ca/en/department-finance/economic-response-plan.html

Apr 10 2020

12mins

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Special Episode - Financial Relief in the U.S. - Erin Lowry, Author of Broke Millennial & Broke Millennial Takes on Investing

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Since so much is going on and many of you listening are looking for some financial relief during this pandemic, I thought I would do another special episode with my pal Erin Lowry who is a money expert in the U.S. and the author of Broke Millennial and Broke Millennial Takes on Investing.

Erin has been hard at work compiling a number of resources in a massive Google spreadsheet (link below) to help you during these uncertain times, and she joins me in this episode to share what you need to know about applying for unemployment insurance and getting your stimulus check if you're living the U.S.

Unemployment Insurance

Department of Labor website:

https://www.dol.gov/general/topic/unemployment-insurance

Career One Stop website:

https://www.careeronestop.org/

Stimulus Check

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

Broke Millennial's Coronavirus/Recession Relief Hub

https://docs.google.com/spreadsheets/d/13OdpUwbi_VytzS4trSsGx25FxElrozbegPZK8KnSLpU/edit#gid=141836046

Support Erin & Buy Her Books

  • Broke Millennial
  • Broke Millennial Takes on Investing

Apr 09 2020

21mins

Play

236 How to Become More Financially Self-Reliant - Chris Guillebeau, New York Times Bestselling Author & Host of the Side Hustle School podcast

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I can’t believe it’s been over 2 years since I’ve had Chris Guillebeau on the show to promote his book Side Hustle, and of course to share his expertise about side hustles. Well, he’s back with a brand-new book, and this time his first work of fiction, called The Money Tree.

This book is actually pretty timely, since it focuses on characters dealing with some tough times financially, so you’ll definitely be able to relate to the story. But since it’s still a book about money, it also offers some solutions and helpful advice on how to overcome these obstacles, how to think differently about your money and earning potential, and how to not let the outside world determine the course of your future.

I personally found his book super inspiring, so I hope you enjoy this podcast episode and of course pick up a copy of Chris’ new book!

For full episode show notes visit https://jessicamoorhouse.com/236

Apr 08 2020

35mins

Play

How to Manage Your Anxiety with the Stock Market & Pandemic - Money Minute with Jessica Moorhouse

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It's totally normal to feel anxious about everything going on right now. Just like you, I've been battling with my anxiety for the past several weeks, but I've started to do a few things to manage it better.

It's no good feeling worried and anxious for weeks or months on end, so here are some things I'm doing to control my anxiety so I can live a relatively normal life until the stock market stops being an up and down rollercoaster and there's a solution to this health crisis.

  1. Set up a new normal routine (shower, dressed, breakfast, to-do list, etc...)
  2. When working from home, set up a dedicated work station
  3. Take breaks, such as using the Pomodore Technique, which involves working for 25 minutes (set a timer) then taking a break. https://francescocirillo.com/pages/pomodoro-technique
  4. Limit your info intake each day from the news and social media
  5. Exercise daily
  6. Journal each day or week
  7. Meditate
  8. Sleep at least 8 hours per day and have a set sleep schedule
  9. Socialize online
  10. Avoid/limit alcohol and drug dependency
  11. Think of life in 1-2 week chunks (or day by day)
  12. Accept that anxiety and fear are normal for what’s going on right now
  13. Be careful with "What Ifs"
  14. Get professional help if needed

Apr 03 2020

10mins

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Special Episode - Deferring Your Mortgage Payments in Canada - Richard Moxley, Credit Expert & Author of The Credit Game

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Due to the tanking stock market, mass job layoffs, and the pandemic, many Canadians are finding themselves in a situation where they are no longer earning an income (or now have a reduced income) and don't have an emergency fund. If you don't have any new money coming in and you don't have any money saved up, what can you do?

Recently it was announced that some lenders, including the big banks, in Canada will be providing mortgage borrowers the opportunity to defer their mortgage payments. To explain more about what this actually looks like and what this could do to your credit score, I'm joined with credit expert and author Richard Moxley for this special timely episode.

More info about mortgage deferrals: https://www.cmhc-schl.gc.ca/en/finance-and-investing/mortgage-loan-insurance/the-resource/covid19-understanding-mortgage-payment-deferral

Make sure to support Richard and grab a copy of his new book The Credit Game: https://amzn.to/2y5UjeA

Apr 02 2020

19mins

Play

235 How to Achieve Different Types of Financial Goals - Alyssa Davies, Author of The 100 Day Financial Goal Journal & Blogger/YouTuber at Mixed Up Money

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I know revising or even setting new financial goals may seem like the last thing you want to do right now (I get it, there’s a pandemic going on!), but right now is actually the perfect time to sit down and take a hard look at your finances. If you don’t have a budget, this is the time to make one. And if you do, it’s time to make a new one because you can stop those auto-contributions to your travel fund. To discuss this and her new book The 100 Day Financial Goal Journal I’ve got Alyssa Davies on the show, blogger and YouTuber at Mixed Up Money.

Aside from talking about the importance of having a budget and tracking your spending, we also discuss how to set and plan for different types of financial goals like homeownership and starting a family, and Alyssa shares some tips and techniques to help you get started.

For full episode show notes visit https://jessicamoorhouse.com/235

Apr 01 2020

36mins

Play

My Top F.I.R.E. Book Picks You Need to Read - Money Minute with Jessica Moorhouse

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Since this week’s episode featured another guest who was able to achieve F.I.R.E. in his 30s, I thought it would be a great topic for this week’s Money Minute! Since we are currently in a bear market, similar to the one that happened from 2007-2009, this is actually the best time to build wealth. From all the guests I’ve had on my show, that’s how they were able to achieve financial independence and retire early…they invested during the last recession and reaped the rewards.

If you have dreams of reaching financial independence, a great first step is to pick up one of these great books:

Financial Freedom by Grant Sabatier

Your Money or Your Life by Vicki Robin

Quit Like a Millionaire by Kristy Shen and Bryce Leung

Work Optional by Tanja Hester

The Simple Path to Wealth by J.L. Collins

How to Retire Early by Robert and Robin Charlton

Millionaire Teacher by Andrew Hallam

Since we’re all being told to practice social distancing, that doesn’t mean you have to stop talking to people! Make sure to join my Facebook group and join in the conversation: https://jessicamoorhouse.com/facebookgroup

Mar 27 2020

3mins

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234 How to Reach FI at 32 & Why Not to Pay Your Mortgage Early - Kornel Szrejber, Host of the Build Wealth Canada Show

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I finally have Kornel Szrejber from Build Wealth Canada on the show! 

As a Canadian, I’m always considering what the right financial advice is so I can, in turn, curate the best personal finance content for you guys. Kornel’s mission is very similar to mine, only he’s FI and paid off his mortgage by 32, which is of course incredible! 

On the podcast today we’re talking about how to become financially independent (FI) and learning a little more about what the path is toward FI. Kornel and his wife lived together in their twenties and focused their dual-income household toward paying off any debts and their mortgage. In achieving his goals he is now focused on his early retirement and navigating life as a young retiree. 

Toss the headphones on and tune it for this energetic interview with Kornel and learn a few ways on how you can create a financially independent life for yourself!

For full episode show notes visit https://jessicamoorhouse.com/234

Mar 25 2020

52mins

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My Thoughts on the Stock Market & Pandemic - Money Minute with Jessica Moorhouse

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We are still dealing with a volatile stock market and health crisis, and everyone, understandably, is feeling anxious and panicked. Even though we’re in an uncertain time, here are some of my tips for what to do based on some of the messages I’ve been getting recently.

First off, if you’re currently investing and feel like your job is fairly stable, then don’t do anything differently than what you’re currently doing. Continue to make your regular contributions to your investments to practice dollar-cost averaging and ride out this wave because the stock market will recover. And if you have some extra money laying around and feel comfortable doing so, you can even increase your investment contributions. If you want to try your hand at investing in individual stocks or ETFs, this is a good time to buy, however, it is still risky and you need to understand what you’re doing and the risk you’re taking on. The stock market will most likely continue to plummet, so as long as you plan on buying and holding for the long-term, you will eventually see positive returns in the future. Just make sure you’re only dedicating a small percentage of your portfolio to this type of investing.

Secondly, if you don’t feel safe at your job and there is the risk of being laid off or having your hours cut, this is the time to focus on your emergency fund. Cut back on other expenses so you can dedicate more funds to your emergency fund, and if necessary either pause or reduce your investment contributions if you don’t think you have enough cash saved up in the event that you lose your job.

Thirdly, if you want to take this time in self-isolation to increase your financial literacy, then read books and blogs, listen to other podcasts, and if you are interested, sign up to my Investing Foundations for Canadians online course.

Mar 20 2020

6mins

Play

iTunes Ratings

95 Ratings
Average Ratings
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Positive vibes!

By mohanadmk - May 03 2019
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Always lovely hearing Jessica

Refreshing

By Elysian78976 - May 14 2018
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Finance in language I can understand! Thank you