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More Money Podcast

Want to learn how to save, earn, and do more with your money? Then welcome to the More Money Podcast! Canadian Money expert, Accredited Financial Counsellor Canada® and podcast host Jessica Moorhouse is here to guide you on your personal finance journey and share the stories, expertise, and wisdom from top personal finance and business experts, celebrities, entrepreneurs, authors, and influencers to help simplify and demystify the "complex" world of money. In other words, if you want to get a better handle on your money but have no idea where to start...you're in the right place. New episodes air every Wednesday. For podcast episode show notes, visit jessicamoorhouse.com/podcast. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions
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Now displaying: 2017
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

  • The One Minute Budget
  • Zero to Investing Hero
  • Desirae's Fav Money Tools

Follow Desirae on Social

  • Like Desirae on Facebook
  • Follow Desirae on Twitter
  • Check Out Desirae on Instagram
  • Subscribe to Desirae's YouTube Channel

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

  • Does It Hurt My Credit When I Check My Rate or Score?
  • Credit Utilization: The Credit Score Tip Most Canadians Have No Idea About
  • What Is A Credit Score And Why Does It Matter?
  • Do you know your credit score? Canada’s new mortgage rules make it more important than ever

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

Jan 26, 2017

Leona joins me for the first Listener Series episode for 2017. She shares her unconventional story of leaving home at 17, starting her career in the trades, owning her own condo at 20, and eventually starting her own construction company and real estate empire. Now, she's happily raising her family and considers herself semi-retired, with the flexibility of working for herself.

Long description:

Episodes like this make me so happy I started this Listener Series on the podcast. Leona was a listener of the show and heard my call out for guests. She sent me the best email with her story that included her moving out on her own at 17, going trade school to start her career, buying her first condo on her own at 20, then eventually starting a construction business and property investment side-hustle with her husband.

She is a great example that you don't need to go to university to set yourself up for success. What it ultimately comes down to is being smart with your money, working hard and never giving up.

Now, Leona considers herself semi-retired and is focused on adding more properties to her portfolio while raising her family and adding more balance to her life.

I think that's one of my favourite parts of our chat together. When she talked about getting up early to have that personal development time, making working out a priority, and doing her daily gratitudes...basically it was everything I needed to hear to get me to do it too. It's easier said than done, and it can be hard when life gets busy, but scheduling those things into your day like Leona does is so important. 

Thanks so much Leona for sharing your story and being such an inspirational guest!

Book Leona Mentioned

  • The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your Life (Before 8AM)

Interested in Getting Started with Robo-Advisors?

Leona mentioned she recently moved away from high-free mutual funds and is exploring different investment strategies like index fund and ETF investing. She also mentioned getting into the new trend of using robo-advisors, so I wanted to share two that I personally recommend if you're looking to do the same.

  • Wealthsimple - This robo-advisor is available to both Canadians and Americans, and is seriously simple to use. The whole process to get started will take less than 10 minutes and when you sign up using my special link (wealthsimple.com/jessicamoorhouse), you'll get a free $50 bonus!
  • Justwealth - Another great robo-advisor for Canadians is Justwealth. They're whole brand is centered around justice and delivering amazing service and results. And if you sign up with them at justwealth.com/jessica-moorhouse, you'll also get a $50 bonus to get you started. You can also learn more about them when you listen to my podcast episode with President of Justwealth Andrew Kirkland.

Helpful Resources I Mentioned to Help You Get Your Money & Life on Track

  • My Crazy Simple Budget Spreadsheet
  • Net Worth Spreadsheet
  • Mortgage Interest Calculator
  • Mortgage Preparation Checklist
  • The Ultimate Moving Out Checklist

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/86

Jan 25, 2017

Former gambler turned personal finance coach Beau Humphreys shares his story from drowning debt to financial free.

Long description:

It was a random weeknight when I went to the Wealthsimple headquarters in downtown Toronto for their 3rd anniversary party. I was told there would be a donut wall, and I was not disappointed.

Aside from the free donuts and drinks, I got to meet Beau Humphreys. I thought I knew all the Toronto personal finance bloggers, so it was a treat to meet Beau and hear his story at the party. Immediately I knew he had to be on my show.

This episode is very different from any of my episodes, because it deals with a topic that I think most people wouldn't be as brave to openly discuss. Luckily Beau was happy to share his story of getting addicted to gambling at the young age of 11.

There's a slogan by the BC Lottery (where I'm from) that's always stuck in my head: "Know your limit. Play within it." Good advice for sure, but let's get real here. Most people who frequent casinos or the race track on a regular basis know their limit, but are incapable of playing within it. Gambling is as serious an addition as alcoholism or drug addiction. And I think it's incredibly important for anyone dealing with something like this to recognize this and find the help they need.

That's exactly what Beau did. He got professional help and it changed his life. He found out that his addiction stemmed from him having undiagnosed ADD. With that knowledge, he was able to turn his life around.

And now look at him! He's travelling to Kenya for vacation and teaching others how they can get over whatever obstacle to achieve financial freedom.

It's a happy coincidence I'm releasing this episode on Bell Let's Talk Day, which is all about talking openly about mental health. And for that reason I'm going to include some helpful links anyone is looking for someone to talk to.

Helpful Resources

  • Ontario Problem Gambling Helpline (Canada)
  • Find a Treatment Centre in Your Province (Canada)
  • National Council on Problem Gambling (USA)

Quotes to Live By

Money problems usually having nothing to do with money. They're about something else in your life that you need to work on [...] Somebody giving you a bunch of money or you making more money isn't going to fix those things.

Money can't buy you happiness, money can't fix your problems.

You're problems probably have nothing to do with the fact that you have debt. You have debt because you have problems.

Episodes You'll Want to Listen to After This

  • Episode 49: Everything You Need to Know About Bankruptcy with Doug Hoyes
  • Episode 64: Finding Your Roadmap to Financial Wellness with Jason Vitug

Check Out Some of Beau's Best Blog Posts

  • Why Are You Saving Your Money?
  • My Journey with Wealthsimple
  • Deferred Sales Charges Kicked Me Where It Hurts

Follow Beau Humphreys

  • Follow Beau on Twitter
  • Like Beau on Facebook

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/85

Jan 19, 2017

Helena Liu wanted to learn from Canada's top investing experts — so she started her own online conference to get 20+ of the best together to share their knowledge with her & other Canadians.

Long description:

I met Helena this past summer because she was looking to add speakers to her roster for her first online investing summit — the Canadian Investors Conference. I suggested a few of my favourite Canadian experts, and now several months later the conference is just a few weeks away and registration (which is free by the way) is open to the public.

It's no easy task to start your own conference from scratch, but Helena knew that this was something she had to do. There's a huge lack of education when it comes to investing, especially for beginners, so Helena wanted to create a free summit to help close that gap.

Right now, there are 24 speakers and the online conference runs from Feb. 4 - 9, 2017.

You can register for free at canadianinvestorsconference.com.

More About Helena

Helena started learning and experimenting with investing after graduating university. She started with mutual funds but then start day trading. In the end, she realized that index investing was the right strategy for her, but she was surprised that there wasn't that much information about it online and that most people didn't know all of their options.

That's why she started the Canadian Investors Conference. She wanted to create a free, online event accessible to everyone to educate Canadians about all the ins and outs of investing and building their wealth.

Investing Books You May Want to Check Out

  • The Lazy Investor by Derek Foster
  • Wealthing Like Rabbits by Robert Brown

Don't Forget to Register (It's Free!)

  • Click here to save your seat for the Canadian Investors Conference

For more podcast episodes, check out the podcast page.

Shownotes: jessicamoorhouse.com/84

Jan 18, 2017

Dan Bortolotti, better known as the Canadian Couch Potato, chats with me about all the ins and outs of index fund and ETF investing.

Long description:

For this episode, I interview a man many people know just as the Canadian Couch Potato. Dan Bortolotti started his Canadian Couch Potato blog in 2010, and it has since become one of the go-to online resources for learning about DIY investing.

I can't tell you how many people I know who swear by his model portfolios! And if that wasn't cool enough, Dan recently started his own podcast specifically to teach people about index fund and ETF investing.

Besides being a very popular blogger, Dan is also a financial planner. I was lucky enough to sit down with Dan face-to-face for this interview, and man did he not disappoint. He really does know his stuff and got me fired up to really look at my investments and change things up (which I did and will write about very soon!).

Dan also shares a number of great investing resources that I'm gonna include here, and I hope you all take advantage of the $50 bonus you can get when you sign up with Weathsimple, one of the major robo-advisors in Canada that makes ETF investing...simple.

Helpful Resources

  • The MoneySense Guide to the Perfect Portfolio
  • Wealthing Like Rabbits by Robert Brown
  • Stop Over-Thinking Your Money by Preet Banerjee
  • Millionaire Teacher by Andrew Hallam
  • The Value of Simple by John Robertson

Check Out the Canadian Couch Potato Podcast

  • Canadian Couch Potato Podcast: Your Complete Guide to Index Investing

Follow Dan Bortolotti

  • Follow Dan on Twitter
  • Connect with Dan on LinkedIn

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/83

Jan 12, 2017

Before the holidays, I made the life-changing decision to leave my job and become self-employed. In this episode I share why I chose to quit my job and what I've got planned for the next year.

Long description:

This week, I'm no longer an employee — I'm an entrepreneur. It's crazy for me to even write that because I honestly never thought this would be my reality.

Growing up, I never had aspirations to own my own business. I thought I'd follow the path my parents laid out and would work for a company until I retired.

But...life is hard to predict isn't it.

Even though this wasn't a premeditated decision, it was something I was thinking about doing on and off for the past while. I honestly thought I'd work my 9 to 5 for another year, then maybe take the plunge, but the timing was just right.

You know when everything in your gut and in life is telling you to do something? That's basically what happened in a nutshell and I had to just do it. It's a big risk going on my own, but I really excited for this new adventure.

I will absolutely be documenting this new journey and sharing more solo episodes along the way, but if you haven't already, make sure to check out my blog post that announced my new venture.

For more podcast episodes, check out the podcast page.

Shownotes: jessicamoorhouse.com/82

Jan 11, 2017

Renting is not throwing your money away, and home ownership isn't something everyone has to aspire to. Alex Avery, author of The Wealthy Renter and seasoned financial analyst, shares his insight into why there is a misconception about the benefits of owning a home and why renting might actually make you richer.

Long description:

To kick off season 4 of the Mo' Money Podcast, I chat with a very special guest about one of my favourite topics — homeownership. Alex Avery, the author of The Wealthy Renter, and I chat about the upside of renting and how homeownership isn't for everyone and doesn't have to be.

I've been an advocate for renting for a while, having been a renter myself for close to 6 years. It was the only way my husband and I could afford to live and work in downtown Vancouver and Toronto. If we tried to avoid renting and bought something right away, we'd either be forced to move an hour away or would be chained to a huge mortgage for 20+ years.

Instead, we chose to rent and save up our money so one day we could afford to buy without becoming house poor (which we did this past August).

These are some of the points Alex touches on in his book too. The idea that renting is the equivalent to throwing your money away is outdated and unfounded. Renting can actually mean more flexibility in your life and more space to save more money so you are richer in the end.

For more podcast episodes, check out the podcast page.

Show notes: jessicamoorhouse.com/81

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