Tag Archives: celebrity

Canadian Personal Finance Celebrity Series: Lesley-Anne Scorgie

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Lesley-Anne Scorgie is a Canadian best-selling author, speaker, and entrepreneur. She’s published 3 books — Rich By Thirty, Rich By Forty, and her latest one that released this past May, Well-Heeled. You can also get a weekly dose of her financial advice from Metro newspaper. 1. Most Millennials can’t afford to support themselves until their 30’s. What’s the biggest thing holding them back from independence?  I believe that three things are holding millennials back: First is student debt associated with the rising costs of education. Second is lower salaries coupled with rising costs of living. This relates to so many graduates not securing the jobs and associated salaries that were once available pre financial crises. Third is lack of financial literacy. We don’t train young people in school, and often times not at home, about how to manage their finances. Thus, so many millennials lack the skills to effectively pay […]

Canadian Personal Finance Celebrity Series: Preet Banerjee

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Preet Banerjee is a Canadian bestselling personal finance author, speaker, and TV host. You can read more from him at the Globe & Mail and on Tangerine! You can also check out his blog: Where Does All My Money Go? 1. Most Millennials can’t afford to support themselves until their 30’s. What’s the biggest thing holding them back from independence? Fully appreciating that the deck is stacked against this generation with respect to employment prospects (rates and income), debt load, housing prices, and more, there are two main factors. One pertains to the individual, the other pertains to their environment. At the individual level, and this is not unique to Millennials, people are just awful at living within their means. Obviously, “living beyond one’s means” is pretty self-explanatory: it’s when you spend more than you earn. But I think there is confusion with the definition of living within one’s means. […]

Canadian Personal Finance Celebrity Series: Rob Carrick

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Rob Carrick is a Canadian Personal Finance columnist for the Globe & Mail and best-selling author. He recently launched an online personal finance magazine directed at helping millennials with their money and regularly tweets about millennial money issues under the hashtag #GenYMoney. You can read more of Rob’s work on his website.  1. Most Millennials can’t afford to support themselves until their 30’s. What’s the biggest thing holding them back from independence?  It’s weakness in the job market. What strikes me when I talk to millennials and their parents is the number of people not so much unemployed as under-employed in jobs that don’t fully utilize their education and training. This includes both unpaid internships and semi-paid internships, where young workers receive a non-competitive wage. A related issue is what millennials are studying. I’m hearing a lot about people who study subjects that don’t have great job prospects. Often, they’re going back […]

Canadian Personal Finance Celebrity Series: Gail Vaz Oxlade

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Gail Vaz-Oxlade is a Canadian personal finance author, speaker, and TV host. She has published numerous books on budgeting, saving, and investing, and I’ve always been a fan of her no-nonsense approach to financial management. You can read more from Gail on her website, or purchase her books here. Below, she answer four questions I posed about millennials and money. Read on! 1. Most Millennials can’t afford to support themselves until their 30’s. What’s the biggest thing holding them back from independence?  It’s hard growing up with privilege and then coming to the realization that all that good stuff costs lots’n lotsa money. I remember the first time I pointed to a pile of fire wood (we had a country home and heated with wood) and said to to then 11-year old daughter, Alex, “How much?” She didn’t have a clue. I let her guess. And guess. And guess. Wowza… big […]

My interview with financial guru Gail Vaz Oxlade on CBC The Current

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Happy All Saints Day! In the spirit of frugality, for Halloween I was Alice In Wonderland for the second year running. Now that the festivities have ended and I’m slowly coming out of a candy coma, I’m happy to kick of Financial Literacy Month! As the Canadian debt-to-income ratio hovers at 163% (that means we owe 63% more than we make!), it’s clear a good understanding of the ins & outs of money is sorely lacking. Canadians are making mistakes with their money because they just don’t know any better. Why is debt bad? How do I make a budget? Where do I put my savings? How do I get started investing in the stock market? How much do I need to save for retirement? These are questions everyone should know the answers to, but they’re not easy to find! But if you’re reading a personal finance blog like Money […]