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Mo' Money Podcast | Personal Finance with Jessica Moorhouse

Award-winning blogger and podcast host Jessica Moorhouse interviews top personal finance experts like Gail Vaz-Oxlade, Preet Banerjee and Rob Carrick, as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, 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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Now displaying: February, 2017
Feb 22, 2017

Saving for your retirement is simple. As Fritz Gilbert from The Retirement Manifesto shares, it all comes down to starting early, spending less than you make, and keeping to it.

Long description:

As I mentioned at the beginning of this episode, lots of us young people don't start thinking about planning for our retirement, well...until it's too late. Which isn't a good thing.

It may be difficult wrapping your head around something that won't happen for another 40 or 50 years, but the only way to make sure you'll actually be able to relax and enjoy your retirement is if you start thinking and planning for it as early as possible.

Fritz Gilbert, the blogger behind The Retirement Manifesto, joins me for this podcast episode to share what he's learned about retirement over the years and how he is only a few years away from his early retirement at 55.

Make sure to check out the links below for more helpful resources and tips on how you can start taking action now so you can rest easy later.

Fritz's Advice on How to Retire Early (or Well)

Spend less than you make, and do it for a long time.

Learn More About Fritz's Retirement Manifesto

Fritz's Blog Posts You Need to Read

Follow Fritz on Social

Learn How to Save Money with LowestRates

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/93

Feb 16, 2017

It doesn't matter where you started from, Lisa shares her story that you can rise above and live the life you always wanted by learning from your mistakes and putting the work into it.

Long description:

Ever since my husband and I watched Tony Robbins in the documentary I Am Not Your Guru a few months ago, we've become major Tony Robbins fans. Whenever we need a pick me up, we just turn on his podcast and immediately get inspired.

Yesterday, I was working all day at home and I decided to leave the house to clear my head. I turned on his podcast to get me out of my funk, and you know what it was all about? The theme was changing your story to change your life. If your story is you're fat, well if you stop making excuses and start eating better and working out, you'll change your life. If your story is you're poor, stop complaining that you were born with less and figure out a way to make more money.

Which is exactly what Lisa talks about in our interview together. She started out in a lower income family living in a trailer park. She was told she wouldn't be able to go to college or live a different life when she was an adult, and for a while she believed it.

But then something clicked and she realized that where she came from wasn't her destiny. And she is living proof of this by graduating college, working a high-paying job and buying a home like she always dreamed of.

If you're looking for a good kick in the pants podcast episode to give you that push to stop complaining and start doing, this is it!

Make sure to also check out Lisa's own blog documenting her personal finance journey at Mad Money Monster.

Lisa's Best Blog Posts About Her Personal Finance Journey

Want to Make Some Changes in Your Financial Life?

Sign up for my free Get Your Financial Life Right 10-day email course! If you want to fix your finances, this is the perfect way to get started, motivated and educated about exactly what you need to do.

Helpful Resources

I spent a good chunk of the past few years creating resources to help you with your money, life and adding more balance into the mix. Check them out on my resources page.

Want to Be a Guest on My Show?

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.

Show notes: jessicamoorhouse.com/92

Feb 15, 2017

You don't have to be rich to travel the world and buy a home in an expensive city. Esther from NZ Muse proves you just need to be smart with your money.

Long description:

It was such a pleasure chatting with Esther from one of my favourite personal finance blogs NZ Muse. I've been following her only her own personal finance journey for years, and I'm so glad I was able to finally chat with her one-on-one for this episode. Not only that, she's the first non-North American guest I've had on the show!

This episode is all about Esther sharing how she eventually got to a place in her life where she was able to afford to leave work to travel the world for 6 months and also buy a home in the incredibly expensive city of Auckland.

Esther's story isn't some crazy story either. She was able to make something most of us only daydream about a reality simply by be strategic with her career and her money.

Similar to me, Esther started out working in the media/journalism business. What used to be a thriving and exciting industry is one that has devolved since Facebook and YouTube became major players. It's sad, because journalism is so important (especially with all the fake news floating around), but also like me, she eventually realized that if she wanted to grow in her career and make a decent living, she needed to change course.

That's when she decided to move into more a content marketing role, and was able to save up $10,000 to for her 6-month trip. She was able to take a leave of absence for work, but she was also financially prepared to have to look for a new job after her travels.

Everything worked out pretty well, because after her bucket list trip she was able to save up another big chunk of money to buy her first home.

You see, nothing sensational or unattainable in her story. She just made smart choices! She saw that there was a ceiling in her industry so she switched careers to make a better living. She wanted to fulfill her dream of travelling for a long stretch of time, so she lived frugally and saved up enough cash to do it. She wanted to buy a home to have a nice roof of her head and to build some equity, so she hunkered down once again and saved up enough for a down-payment.

The message here is that if she can do it, anyone can do it. You just need to work hard, make smart financial decisions, maintain focus and take action.

Some of Esther's Best Posts

Check Out Esther First Free Course!

  • Great timing for me to share our podcast episode together because Esther just released a 5-day email course all about how to reclaim your money mojo! Make sure to sign up to her free email course to get out of your money rut.

Follow Esther on Social

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/91

Feb 9, 2017

Want to learn how to set yourself up for financial success before graduating university? Listen to my interview with podcast listener Allison about how she'll be able to graduate almost debt-free.

Long description:

If you want to set yourself (or your kids) up for success, it is crucial to understand the consequences of taking on too much student debt. Yes, it is one way to be able to afford a post-secondary education which in turn could lead to a job with a good salary...but it could also hurt your chances of living a life that's not tied down to years of debt-repayment.

For this episode, I chat with one of my podcast listeners Allison from Manitoba, and she shares what she's done so when she graduates she'll only have a few small amount of debt to pay off. This includes her working year-round and during the summers, living extremely frugally, and not using all the student loans she was granted.

She is one financially savvy 21 year old, let me tell you. And I know from personal experience because she did pay attention to her finances during university, she'll have a much easier time after graduation.

Being debt-free (or close to it) after graduating will not only offer you more freedom and opportunities, but you'll realize that you've already got some great financial habits. You'll also be able to achieve some of your financial goals sooner and build wealth quicker thanks to the magic of compound interest.

One resource Allison mentioned a few times, and inspired her to take on this frugal lifestyle, was Mr. Money Mustache. He's actually Canadian (woot woot!) and is mentioned by listeners all the time, so make sure to check out his stuff!

I also mentioned in this episode that I interviewed my sister who graduated university almost a year ago. Here's the video of our interview (and she said she was nervous to do a Facebook live stream with me, ha!).

My Interview with My Sister About Money After Graduation

Listen to the episode I recorded with my younger sister just after she graduated university: http://jessicamoorhouse.com/53

Join the Community

I mentioned at the end of the episode that I have a private Facebook group all about Money. Life. Balance. We're over 500 strong, and I'd love for you to join us!

Helpful Resources

I spent a good chunk of the past few years creating resources to help you with your money, life and adding more balance into the mix. Check them out on my resources page.

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.

Show notes: jessicamoorhouse.com/90

Feb 8, 2017

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 2, 2017

You don't have to be rich to look fabulous! Podcast listener Christina Proctor shares how anyone can dress for success without breaking the bank.

Long description:

When podcast listener Christina Proctor emailed me about her story and how she became a style coach, I knew I needed to chat with her for a Listener Series episode. I am probably the least fashionable person around, but that doesn't mean I want to be! So When Christina said she could share her expertise on building a solid wardrobe on a real person's budget, I got pretty excited.

Right now, Christina is a style coach as a side hustle (learn more about her at WearOutThere.ca), which I think is awesome. It started out as a passion for fashion and a hobby, developed into a money-making side hustle, and she hopes in the future to turn it into a full-time business.

It's not easy having two jobs (don't I know it!), but as Christina shares, it can also we incredibly rewarding. She's not just having fun and making money on the side, she's also helping women and men find their true personal styles and showing them how to do it without bursting their budget.

Christina shared a number of great tips in this episode, so make sure to check out some of her key pieces of advice below.

Tips to Stay Frugal & Fashionable

  • Stay away from trends, stick with timeless pieces.
  • Shop for your body shape so you don't buy pieces you'll never wear after buying them.
  • Buy pieces that meet your goals. Is your priority to look your best at the office? Then invest in quality pieces for work, and then be more of a minimalist for your off-hours wardrobe.
  • Shop consignment. You can find some great quality and unique pieces at a discount by doing so.
  • Always shop with a list.

Join the Community

I mentioned at the end of the episode that I have a private Facebook group all about Money. Life. Balance. We're over 500 strong, and I'd love for you to join us!

Helpful Resources

I spent a good chunk of 2016 creating resources to help you with your money, life and adding more balance into the mix. Check them out on my resources page.

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.

Show notes: jessicamoorhouse.com/88

Feb 1, 2017

Borrowell co-founder & CEO Andrew Graham shares his expertise on what everyone needs to know about credit scores and borrowing in Canada

Long description:

If you have any questions about credit scores, I guarantee you that they'll have been answered by the end of this episode. I was so fortunate to have been able to interview Borrowell co-founder and CEO Andrew Graham for this episode, because he really is the credit score guru!

Not only did he start one of the fastest-growing Fintech companies in Canada, he also really knows his stuff and gave me quite the education. Which makes it quite obvious how his passion for financial literacy and offering Canadians better options for borrowing led him to co-found Borrowell.

After working for several years in the banking industry, Andrew realized that Canadians were getting into deeper and deeper debt with sky-high interest rates holding them back. He wanted to find a solution that would save people from paying 19.99% interest on their credit card, but still be able to borrow to help them when they really needed it.

We get into more detail about why he started Borrowell, what his company's mission is all about, and most importantly why it's so important to have a firm knowledge of credit and borrowing before you take out any type of loan.

Here's a break down some of the key things we talked about in this episode, with some additional resources so you can know your stuff before you get out your next loan.

Key Things to Know About Credit Scores

  • Credit scores can range from 300-900. Just like a letter grade, the higher your score the better you are (though it's uncommon to actually achieve a perfect 900).
  • The average credit score amongst Canadians is 749.
  • Even if you have a "bad" credit score, you can improve with a few simple changes.
  • Simple changes to improve your credit score include making consistent payments on your credit cards and bills and not always hitting the top end of your credit card limit.
  • Your credit score can update as soon as the next day.

More Helpful About Credit Scores

Get Your Free Credit Score

Want to find out your credit score for free without dinging it? You can now thanks to Borrowell. As I mentioned in this episode, I checked mine after my interview with Andrew. The last time I checked my credit score was when I was getting pre-approved for my mortgage. At the time it was in the high 700s, but when I checked again this time it had gone up to the low 800s (which is quite high for your reference. I even impressed Andrew!). Make sure to check yours at bwll.co/momoneypodcast.

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/87

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