Young Money with Tracey Bissett

Today we're celebrating Young Money's incredible journey. Together, we've created 334 episodes, reached listeners in over 40 countries, and surpassed 360,000 downloads! It's been a privilege to inspire financial fitness through fun, educational content and host amazing guests who've shared their insights to help you navigate your financial journey.

As I reflect on this milestone, I'm sharing the lessons I've learned, the hurdles I've overcome (like losing access to Apple Podcasts!), and the community that made it all possible. From loyal listeners to supportive colleagues and fellow podcasters, this journey has been all about people. As Young Money takes a pause, I want to thank you for being part of this incredible experience and encourage you to celebrate today by taking one small step toward your financial goals.

"I love my show, being a podcaster, and the impact the show is making on the world." - Tracey Bissett

This Week on Young Money:

• What inspired Young Money and its lasting impact over seven years.
• Lessons from building a global podcast with 360,000+ downloads.
• Behind-the-scenes stories, including overcoming setbacks with Apple Podcasts.
• How financial fitness starts with small, imperfect actions.
• The value of community in creating a lasting podcast.
• Why podcasting is one of the best decisions I've ever made.
• Milestones and celebrations that made the journey unforgettable.
• How to take action toward your financial fitness today.

Key takeaways:

1. Financial fitness is about consistent, small actions—not perfection.
2. Community and collaboration are essential to podcasting success.
3. Resilience helps overcome unexpected hurdles in creative work.
4. Milestones remind us to reflect on growth and impact.

Rate, Share & Inspire Other Young Millionaires-in-the-Making

In this episode I'm wrapping up Financial Literacy Month with a musical twist, drawing inspiration from a recent trip to Nashville, Tennessee. Known as a prime bachelorette destination and the heart of country music, Nashville also provided valuable financial fitness lessons applicable to everyone, especially young entrepreneurs and those at the start of their financial journey.

Listen in as I share personal stories and insights from my travels, exploring the parallels between the vibrant life of Nashville's music scene and practical financial strategies. You'll learn about the importance of asking for what you want, staying true to your financial goals, and the benefits of professional financial advice through the lens of honky tonks and country legends.

"Your financial dreams and goals don't need to look like anyone else's, and you should work with professionals that have experienced credentials and make you feel comfortable." - Tracey Bissett

This Week on Young Money:

• A journey through Nashville and its connection to financial literacy.
• Five key financial fitness lessons inspired by Nashville's music scene.
• Practical advice on asking for what you need, focusing on your goals, and resilience in your financial life.

Key takeaways:

1. Embrace the power of asking in financial situations.
2. Stay focused on your financial goals despite tempting distractions.
3. Recognize when to seek professional help for managing your finances.
4. Understand that bigger isn't always better in financial decisions.
5. Learn the importance of resilience in achieving long-term financial fitness.

Rate, Share & Inspire Other Young Millionaires-in-the-Making

As Financial Literacy Month continues, we're diving into the crucial but often overlooked role of insurance for young Canadians. Today we're joined by Jessica Baker, Executive Vice President of Retail Wealth at Co-operators, a trusted, Canadian-owned company providing insurance and financial services since 1945.

Listen in as Jessica explains how insurance isn't just about protecting possessions—it's about safeguarding your financial future. She busts common myths, like the idea that insurance is too expensive or unnecessary for healthy young people, and offers valuable insight that could change the way you approach your financial security.

"The two main categories of life insurance, term life and permanent life, can help set you up for both savings and paying the expenses of the sudden and unforeseen." - Jessica Baker

This Week on Young Money:

• Why insurance is essential for financial well-being at every age.
• An overview of the comprehensive services offered by Co-operators.
• The common types of insurance young Canadians should consider.

Key takeaways:

1. Understand the basic principles of insurance and how it operates to protect you.
2. Recognize the importance of insurance as a part of holistic financial planning.
3. Assess your insurance needs based on life changes and financial goals.

Connect with Jessica Baker:

In this Financial Literacy Month special of Young Money, we're joined by Rana Abu-Naameh, Director General of Supervision at the Financial Consumer Agency of Canada (FCAC). With her extensive background in public service and financial oversight, Rana sheds light on how FCAC protects consumer rights and enhances financial literacy across Canada.

Listen in as Rana dives into the critical aspects of FCAC's mandate, focusing particularly on the streamlined consumer complaint handling process. She explains the steps consumers should take if they have grievances with financial products or services, detailing both the internal and external complaint processes. Rana also highlights the recent legislative changes that strengthen consumer protections, including mandated electronic alerts to help Canadians manage their banking more effectively.

"If you're frustrated with the situation, don't just sit with it. There is a process to protect you." - Rana Abu-Naameh

This Week on Young Money:

• An overview of FCAC's role and its impact on financial consumer protection in Canada.
• A detailed explanation of the consumer complaint handling process.
• Insights into recent enhancements in financial consumer protection laws.

Key takeaways:

1. Understand how to effectively lodge and escalate complaints within the financial system.
2. Learn about your rights as a consumer when dealing with financial institutions.
3. Discover the tools and resources provided by FCAC to enhance your financial literacy and safeguard your interests.

Connect with Rana Abu-Naameh:

As we celebrate Small Business Month in Canada, I'm delighted to speak with Pouya Zangeneh, the Senior Vice President of Small Business Banking at Scotiabank. With over a decade of experience in the financial services industry, Pouya shares his insights from Scotiabank's recent report, "Path to Impact 2024: Navigating the Future Succession and Success in the Digital Era."

Listen in as Pouya discusses the trends impacting small businesses, including the imminent 'succession tsunami' where many business owners plan to transition their businesses in the next decade. He explores the importance of digital transformation in preparing for these transitions, whether it's to a new owner or the next generation. Pouya also emphasizes how digitization not only enhances customer experiences but also streamlines operations, making businesses more attractive and operationally resilient.

"We need to invest, we need to think, and we need to do the work to get these businesses ready for the future generation of the leaders within the small business landscape in Canada." - Pouya Zangeneh

This Week on Young Money:

• Insights from Scotiabank's "Path to Impact 2024" report.
• The concept of a 'succession tsunami' and what it means for current and future business owners.
• The role of digital transformation in preparing businesses for succession.

Key takeaways:

1. Implement succession planning tied to digital transformation efforts.
2. Enhance digital capabilities in your small business.
3. Seek advice and embrace digital tools to streamline business operations.

Connect with Pouya Zangeneh: