Smart Money Podcast Interview: A Canadian personal finance podcast

It is my pleasure today to introduce the Smart Money Podcast. I stumbled on this podcast recently and had the opportunity to listen to some of their episodes.

They do a fantastic job at explaining various personal finance topics quick and to the point. If you’ve got 10 minutes in your day to listen to anything, why not listen and learn more about budgeting?

Whenever we agreed to do a podcast together, I was happy because we could discuss various topics and have a genuine conversation.

To listen to the podcast, go to the bottom of the page.

During my own interview here, I asked questions to help myself understand the Smart Money podcast and how important personal finance is to them.

Fortunately, they have taken the time to respond to my questions.

1. Tell us about the podcast. What inspired you to create it?

The Smart Money Podcast (https://anchor.fm/smart-money) is all about educating and helping people with their personal finances. We cover topics such as budgeting, saving, investing, and tricks to be smarter with your money, focused specifically to the Canadian market. The inspiration for this podcast was seeing my friends, as well as people older and younger than myself struggling to succeed, while spending money without care or thought.

2. What is the mission of your podcast?

I’m passionate about helping people set themselves up for financial success. I’m also a believer in slow and steady wins the race, 7% a year compounded is much better than “gambling” on stocks and trying to find the next big thing. I try to take a common sense, set it and forget approach that is simple for people to follow.

3. Personal finance is essential for people to learn, and your podcast is based on this topic. Why is personal finance vital to you, and what’s the best tip you can provide to someone just learning about it?

I came to Canada as an immigrant and didn’t grow up particularly wealthy. My parents taught me the value of a dollar and I worked hard to be where I am today. I’d like to share what I know and show people it’s possible no matter where you come from. My best tip is to save as much of your income as you can. No matter how much you make, if you can save 50% of your income, you’ll be able to retire in 17 years. If you are fortunate to make a large income and are young, it’s best to save for a quickly years as you’ll set yourself up for financial freedom early. More on that here: https://smartmoneytricks.com/retiring-9-years-and-503020-budget-rule

4. Looking into the future, what can Canadians expect from your podcast?

You can expect more tutorials and content on personal finance topics, tools and spreadsheets, as well as interviews with interesting business leaders. I’m also going to be expanding to cover news topics that are relevant to the Canadian market.

Useful article: How To Start Investing In Canada: Everything You Need (2021)

5. Recently, you published a video on budgeting. Briefly convince our readers why they should learn to budget.

“If you can’t measure it, you can’t improve it.” This is a famous saying that applies to budgeting and saving really well. A budget is the basis for any plan and financial freedom, you have to know how much money you bring in, and how much you spend. Once you have an overview of your situation you can begin to plan, improve, and change the ratios of income to expenditure for the better. Fun fact, every $1 you can save today will be worth $10 in 35 years (adjusted for inflation). More on that here: https://smartmoneytricks.com/how-budget-2021

6. If you could only invest in one thing (stock market, real estate, etc.) for the rest of your life, what would it be?

Stock market, S&P500 index. It gives the broadest range of diversification (compared to real estate or a single asset class) and historically outperforms almost all other investments. It’s easy and comparably safe, and for the majority of people is likely the best option.

7. We consider people “Bank Breakers” when they break their piggy banks and gather extra money or resources to invest in their future. Would you classify yourself as a Bank Breaker?

I never had a piggy bank (that I can remember) but I certainly consider myself a Bank Breaker! I was able to purchase a house in Toronto in my 20s with no help from money I earned working and saving.

After receiving those answers, I knew that they were a Bank Breaker! Not only because they are investing in what they want, but because they are helping to invest in others by running their podcast!

Smart Money Podcast’s Interview:

Please, if you haven’t, check out the Smart Money podcast. They stream on both Spotify and Apple Music, along with videos on YouTube.

Are you interested in being included in our Bank Breaker showcase? Send me an email at [email protected], and we can discuss more!

Thanks to the Smart Money podcast for featuring me on their platform and taking the time to answer my own questions.

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