This Money Lesson Changed My Life 😮

Happy Monday, and happy September 1st! 

This is one of our favourite days of the year, because it’s Dennis’ birthday - and this year’s extra special, because he’s officially 30 years old. 👀

In other news, we’re back with another issue of Money Convos with Steph & Den, and we have a lot to say this month. So, let’s get into it! 

Here’s what’s up in this copy 🤑🗞 

• It’s time to say goodbye to Dennis’ 20s 👋🏿👋🏻

• Steph has a confession to make… 🤐

• We’re hosting a free investing workshop! 💰

• It’s time to reset for a new season ✅

Money Convo Of The Month

The Biggest Money Lessons I Learned Before Age 30

Today - literally today, September 1st - is my 30th birthday. That means that I’m officially saying goodbye to my 20s, and hello to the next decade of my life - wow! 

My 20s have been full of a lot of change and growth. I went from being a new grad who was making $50,000/year working at a big 4 firm… To getting promotions and salary increases… To starting YouTube as a side hustle… To eventually becoming self-employed and working on our business full time. 

I also went from a -$50,000 net worth (aka student loan debt), to a $0 net worth (when I paid it all off), to now a $150,000+ net worth just in time for my 30th birthday. 

All of these milestones have come with a lot of money lessons along the way, and I’ve really been reflecting on those lessons over the past few weeks. 

Money Lesson #1: Money (kind of) buys happiness 

When I was growing up, I was 100% under the impression that money bought happiness - at the time, I knew that not having money sucked, so naturally I assumed that having money would make everything better. 

Now that I’m older - and I’ve improved my financial situation - I can tell you that money kind of buys happiness, but not in the way that I used to think. I’ve learned that having money isn’t everything… but not having money really is. 

I’ve learned that there are things in life that money can’t change or fix, but it can make those situations better by bringing you flexibility and the ability to be there for your friends and family. So, having money is important and can make your life better and/or easier, but it can’t bring you happiness on its own. 

Money Lesson #2: You have to be able to see

One of the biggest lessons that I honestly think changed the trajectory of my life was tracking my spending - aka budgeting. 

I know, I know - it sounds boring! But budgeting really doesn’t have to be a formal process or task that you’re forcing yourself to do. The essence of budgeting is actually really simple - it’s knowing where your money is going. 

I think budgeting can be hard for people because of the mindset shift that you have to make in order to get started. We’re so conditioned to not look into the details, and to ignore our spending and just ‘live our lives’. The thing is… budgeting makes your daily life so much less stressful. And for me, it’s allowed me to level up my life in so many different ways… It’s allowed me to truly see my life and what’s possible for me. 

Money Lesson #3: Get rid of your (consumer) debt

I’m sure you’re not surprised to hear that paying off my student loan debt had a big impact on my money journey throughout my 20s. I took on my student loans before I really even knew what student loans were (and that’s relatable for a lot of people). 

Now, paying off my student loans had a big impact on me - mentally and financially - but consumer debt is even more important to get rid of early on in your money journey (we’re talking about credit cards, and even car debt here). Getting rid of ‘bad debt’ gives you the ability to truly move forward and enjoy your life. 

Money Lesson #4: You need to take risks now 

Your 20s are the best time to take risks. I’m not talking about risks in the stock market (IYKYK), I’m talking about betting on yourself. 

In order to get ahead financially, you have to do things that others are simply not willing to do - that could be making sacrifices in your daily spending in order to pay off your debt or invest more money; that could be having a side hustle to make more money; or it could be what Steph and I did by quitting our jobs and creating a sustainable business for ourselves that we love and has an impact. 

There isn’t one risk that everyone needs to take… It's more about following the path you really want and betting on yourself now. 

Money Lesson #5: You need to make more money… 

This lesson is the one that I believe is one of the initial keys to financial success - and I mean true success. At a certain point, you’ll come to realize that no matter how much you cut back on your expenses in order to hit some of your goals, it won’t matter because you have an income problem. 

Making more money can mean going back to school to upskill yourself, it might mean switching jobs, and it might mean (like it has for me) starting a side hustle-turned-business. And on that note…

Money Lesson #6: …you need to invest your money 

If there’s only one money lesson that you take away from this list, please let it be this one! 

Compound interest is a real thing - and throughout my 20s, I was able to actually see it in action. The only way to make sure it works in your favour is to invest as early as possible and to invest as much as possible (with more emphasis on the early part!). 

I’ve heard from way too many people that they’re waiting on a lottery-type situation, where all of a sudden they’ll just come into a lot of money (how? idk…), so they don’t need to invest now. 

I’m all for positive affirmations, but the odds simply aren’t in your favour. Instead, we should all do what we can control - and the good news is that, because of compound interest, it’s never too late to start. 

If you want to hear more of an in-depth explanation of all of these money lessons, then check out this YouTube video.

I’ve Been Going Over Budget 🤑

I have a confession to make…

…I’ve been overspending on restaurants. 🫣

Now, don’t get me wrong - I’m nowhere near my 2023 restaurant spending (where I spent $2,229.99 on UberEats alone, not to mention the rest of my restaurant spending). 

But, I’ve been well over my $150/month eating out budget for the past five months now. 

Here’s what my monthly restaurant spending’s looked like -  

Now, I’ve still been doing a great job of cooking at home (if I do say so myself!) - the problem is more so that we’ve been eating out more with friends, family and on our own. I need to do a better job of planning out my schedule for the month - I’m thinking that saving our date nights for later in the month, when I already know what my restaurant spending has looked like throughout the month, might be a helpful starting point. 

I’ll definitely keep you posted throughout the rest of the year, and see if I can reign the spending back in. To be continued! 

If you want to see what we both typically spend in a month on restaurants, check out our videos on Instagram and/or YouTube Shorts.

Free Investing Workshop

We’re hosting another free investing workshop this month! 

We’ll break down how you can start investing in the stock market now, and build your confidence with investing. 

We’ll specifically focus on passive investing, and taking a do-it-yourself approach. 

We have a few sessions available - each one will start with the workshop, and end with a Q&A where we’ll answer all of your money and investing questions. 

• Tuesday, September 2nd @ 8:00pm EST 

• Wednesday, September 3rd @ 8:00pm EST 

• Thursday, September 4th @ 8:00pm EST 

If you’re looking to start investing - or improve your investing strategy - this fall, then this is for you! Seats are limited, so save your spot ASAP (again, it’s free!).

Please note: We focus on Canadian specific investment platforms and accounts throughout the session. You’re welcome to join if you live elsewhere, as the general information shared will still apply to you. 

Sign Up Here - Free Investing Workshop 

We can’t wait to see you there! 👋🏿👋🏻

Reset For Fall Checklist 🍂🍃

It’s almost fall, which means that it’s time for a Reset For Fall Checklist.

We promise we aren’t trying to rush summer away - but it is a transition month, and if we fail to prepare, we prepare to fail! This is a great time to refocus on your financial goals before the end of the year is suddenly here. 

Without further adieu, here’s a quick checklist that you can use to reset and refocus. 

• Review your budget and/or spending tracker: We know how easy it is to get off track in the summer - whether you ate out more than you normally do, or you just weren’t as on point with updating your budget! Don’t worry, you can easily get back on track. Take some time to update everything, and refresh your money mindset - you’ve got this! 

• Check in on your money goals: There’s still four months left to hit your money goals for 2025 (that’s a lot of time!). Take a look at your list of goals, and see what you need to do in order to check them off by December 31st… and don’t forget that you can remove goals that aren’t on your radar anymore! 

• Prepare for your work benefits open enrolment period: If you receive benefits through your job, then your open enrolment period (aka when you’re able to change your current benefits plan) is probably coming up in the fall. Review your current coverage, and see if there’s any changes you want to make for the upcoming year based on what’s going on in your life right now. 

• Plan for your remaining PTO: Do you have any PTO days left? If you do, then make a plan for when you want to take them before the end of the year so that you don’t lose them! 

• Sign up for Simple Investing (For Canadians): If you live in Canada, we’re doing something special this month… We're hosting a live kick-off call for our Simple Investing students on September 15th! If you sign up and join our course before then, we’ll get to see you live - and answer all of your questions during the Q&A segment - during the call. You can sign up here!