The Canadian Money Roadmap

EPISODE SUMMARYOn this week's episode, I'm actually the guest! This is an episode I recorded with Matt Ramage from the Sask Wedding Podcast where we discuss money conversations you should be having with your partner before your wedding and then as you build your lives together. Matt is a wedding and lifestyle photographer based out of Saskatoon. You can find him on instagram or on his website.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEHow to manage money while planning a wedding Things to consider when shifting from handling your own money to handling money in a relationship Planning for expenses during marriage and life after the weddingRESOURCES MENTIONEDSask Wedding Podcast Matt Ramage (mj&co.) - Instagram Matt Ramage (mj&co.) - Website OTHER EPISODES5. Budgeting for People Who Hate Budgeting 9. Do I Really Need a Will?  An Interview with Elizabeth Williamson12. Buying a House Featuring Kindra SowdenIf you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYWe’re back with Season 2 of The Canadian Money Roadmap Podcast!  This episode focuses on TFSAs and will set you up to use them like a pro.  ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODE1. TFSAs are best used for building long term wealth.  Short term savings are best saved in a non-TFSA Savings account.2. You can (and should!) invest for growth within a TFSA.  Here's a link to the BMO study showing nearly half of Canadians thought they could only have cash in a TFSA 3. Building long term wealth starts and ends with a TFSA. Focus on maximizing your TFSA first and spend the TFSA money last in retirement4. By building the bulk of your savings in a TFSA, you'll be able to keep your future taxable income low as well.  This can have a significant impact on making sure you receive your full Old Age Security payments and potentially spend less money on other government subsidized costs like long term care that are indexed to your taxable income.RESOURCES MENTIONEDBMO study regarding how Canadian’s use their TFSA TFSA guide from the Government of Canada OTHER EPISODES24. TFSAs are Great but Watch Out….29. RRSP, LIRA, TFSA…Where do you Withdraw from First? 36. 5 Steps to Set Up Your TFSA for 2022 If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

Thanks so much for listening to Season 1 of the Canadian Money Roadmap Podcast! I've had a lot of fun and I've received lots of great feedback about this season's topics so I'm excited to prep for season 2 and get that out as soon as I can.This episode is a quick summary of the first season which focuses on your financial foundations.Feel free to reach out to me at evan@ennsbaxter.com! Retirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYIn this episode, I'm joined by Elizabeth Williamson of Williamson Law in Saskatoon, SK.  She provides some advice and education on the basics of wills, whether or not you should have one (hint: you do!) and some risks involved with doing an online will.**This episode features discussion and advice most relevant to residents of Saskatchewan. Always consult with a legal professional in your home province when developing your own will and estate plan.**✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEInterview with Elizabeth Williamson of Williamson Law in Saskatoon, SKThe basics of a willTips to properly set up your estate Basics of a Power of Attorney and Healthcare DirectiveRESOURCES MENTIONEDWilliamson Law website and contact OTHER EPISODES6. Insuring your most Valuable Asset 46. Maximize the Tax Benefits of your Charitable Giving If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday Evan interviews Alisha Esmail, the founder of Road Coffee Co.  Road is a coffee roaster based out of Saskatoon with a goal and story that goes well beyond a simple cup of coffee.  ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEInterview with Alisha Esmail, founder of Road Coffee Co. Finding funding to start a businessDeciding whether to take a salary as the owner Pivoting during Covid-19 to remain profitable RESOURCES MENTIONEDRoad Coffee Co. Road Coffee - Origin Story and Beyond Fair ProgramGovernment of Canada - Business Grants and Financing OTHER EPISODES11. Money & Marriage - From the Sask Wedding Podcast w/ Matt Ramage 12. Buying a House Featuring Kindra Sowden 15. Mortgage Masterclass with Bud Jorgenson If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYEvan guides you through the basics of Canadian tax and helps you understand how income tax works in our country.  Evan also touches on the “next bracket myth” and helps clarify some common misunderstandings.  ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODETax basics Explaining a progressive tax system Understanding average vs. marginal tax rate The Next Bracket MythRESOURCES MENTIONEDEY Tax Calculator and Rates Government of Canada - Understanding Your Pay StubOTHER EPISODES14. How to File Your Taxes in 2021 Featuring Luke Hergott, CPA25. Reduce Taxes with a Spousal RRSP 41. Reduce Your Taxes with Deductions and Credits If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYThis episode covers a basic overview of life, critical illness, and disability insurance so you can protect your most valuable asset.  You! ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODE1. Life Insurance: Pays tax free benefit upon death. Term vs Permanent. Aim for total coverage of Debt + 7x Income2. Critical Illness: Pays tax free benefit upon diagnosis of a covered condition.3. Disability: Pays benefit based on your inability to earn employment income. If you have benefits at work, you might already have sufficient disability coverage but double check the variables so you know what you have.4. Creditor Insurance: Typically more expensive and less comprehensive than a personally owned policy but can be a good option if your health prevents you from getting a policy on your own.OTHER EPISODES12. Buying a House Featuring Kindra Sowden 15. Mortgage Masterclass with Bud JorgensonIf you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYIf you're listening to this episode, chances are that you're not a budgeter. I'm not a budgeter either! You need to know where your money is going but an automated system is going to be your best friend.✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODE1. If you've ever said "Ugh, I finally need to set up a budget", a strict budget might not actually be your best option. And that's okay! People's brains are wired differently but you just need to find a system that works best for you.2. If you are looking for budgeting software, I'd start with Mint or You Need A Budget. 3. When building your budget, aim for the 50-30-20 rule for the categories of Needs, Wants and Savings/Debt repayment.4. **If you don't want to set up a strict budget, start by automating your good habits**. If you think you need a budget, chances are that your money isn't going where you want it to every month. By automating your good habits of paying your bills on time, repaying your debt and contributing to your long term savings, you can guarantee that you'll start every month on the right foot. The more things you can automate, the fewer speed bumps you're going to hit every month.RESOURCES MENTIONEDMintYou Need a BudgetOTHER EPISODES42. Start planning for your next vacationIf you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYEvan discusses student loans and student lines of credit before interviewing PhD candidate, Sam Derksen.  Sam and Evan chat about how to get through your post grad studies without any debt. ✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTTOPICS IN THIS EPISODEThis week's episode looks at getting through post secondary school:1. Student loans - Know your status as a dependent or independent and know the income reporting requires before you apply to limit the surprises of a smaller loan than you had anticipated.2. Student lines of credit - Available through a bank, a line of credit is more flexible but you might run the risk of overspending as a result3. Interview with PhD candidate, Sam Derksen - How to get through your post grad studies without any debtOTHER EPISODES16. Registered Education Savings Plans featuring Steven Guenther, CFP If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet

EPISODE SUMMARYToday's episode focuses on buying a vehicle.  Buying a car is one of the first major purchases that a person will make but you're also likely to own over 10 vehicles over the course of your life.  Buying a vehicle the wrong way can get you into lots of  financial trouble so this episode should give you some tips to stay on track with a vehicle you'll be happy with for a long time.**Note** this isn't a podcast of how to negotiate the best price or which vehicle to buy. I wanted to provide some realistic education on what the process of buying a vehicle is like so you can make the best choice for your unique situation.Quick tips:1. Buying a used car with cash is likely the cheapest way to own a vehicle. Certified pre-owned is a nice sweet spot that offers warranty, low kms, a dealer inspection and someone else has paid most of the depreciation already.2. Leasing is the most expensive way to "own" a vehicle over time even though the monthly payments are lower. Generally only a good option if you use the vehicle to travel for work can expense the payment.3. Financing is the most common method of buying but try to stick to the 20/4/10 rule to keep your interest low and payments on budget. 20% down, 4 year term, payment is less than 10% of your monthly take-home income.4. Do your homework before going to the dealership: know the model and trim level you're interested in, know the MSRP and what you're willing to negotiate on, know your budget and don't deviate from it.5. Avoid the "extras" like undercoating, extra warranty, life insurance on the loan (own your own insurance policy instead!)✅ DOWNLOAD FREE RETIREMENT READINESS CHECKLISTOTHER EPISODES43. Should you Rent or Buy a Home 12. Buying a House featuring Kindra Sowden If you enjoy listening to the podcast, please leave a 5 star review on Apple PodcastsRetirement Readiness Scorecard 🇨🇦 Looking to retire in the next 10 years or less (age 45+)? Get your money organized - Your Full Financial Picture Spreadsheet