As we head into 2025, household finances are still a large source of worry for many Canadians. So, Devon Lacombe, the Vice President of Retail Investments at Scotiabank, is our guest this episode and has seven simple, practical tips to de-stress your finances. From a no-fuss approach to budgeting to tools that make saving easier and much more to help make the new year a less worrisome one.
For more financial advice visit Scotiabank’s Advice+ Centre.
For legal disclosures, please visit http://bit.ly/socialdisclaim and www.gbm.scotiabank.com/disclosures
Key moments this episode:
1:21 – Why finances are a particular worry for Canadians in 2025
2:34 – Tip 1: Be kind to yourself
4:20 – Tip 2: Start small
5:26 – Tip 3: Make a simple budget
7:27 – The 80, 30, 20 rule and how it can be an easy guide to budgeting
9:23 – Tip 4: Break down your goal
11:40 - Tip 5: Get the right accounts (plus a primer on some of the key savings vehicles: RRSP, RESP, TFSA and FHSA)
16:44 - Tip 6: Use the tools available to you
17:35 – An example of the power of compound interest
21:02 - Tip 7: Don’t be afraid to get help
22:37 – Why Devon’s New Year’s resolution may or may not have to do with money
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