The Financial Classroom Podcast

The Financial Classroom Podcast A podcast by Will, Tim & Jules. Three friends who believe that the American dream is built by living within your means. Instagram: FinancialClassroom

Listen as they discuss how to build wealth, live frugally, and attack life with a financial plan.

Episode 63! This week we spoke to Eric Preston from Regina, SK about his own personal journey in finance and how having ...
11/12/2022

Episode 63!

This week we spoke to Eric Preston from Regina, SK about his own personal journey in finance and how having a financial community group to talk with has helped him with his own finance. In this episode Eric talked to us about the importance of surrounding himself with people who also enjoy finance and the lesson he has learned from having such a community. Eric shared his own journey and how he started to learn about finances early on from his grandpa and shared a few lessons that was taught to him. He talked about how the book “The Wealthy Barber” gave him a new perspective on how he handled his finance and various ways he learned to manage personal finance. Eric opened up about the mistakes he’s made early on during his college years and how those mistakes helped shape who he is today. Check out the episode and learn why we do monthly spreadsheet parties today and how it has benefitted Eric!

If you are a 6 Figure Millennial or wanting to come on as a guest feel free to reach out to us at [email protected] or find us on Instagram or Facebook.

Death is not an easy subject to talk about, but it is also something that ABSOLUTLEY SHOULD be talked about – from an es...
10/28/2022

Death is not an easy subject to talk about, but it is also something that ABSOLUTLEY SHOULD be talked about – from an estate planning perspective, at least. In this episode, Will and Tim talk about this topic with Mark Stefan, a successful wealth planner who has been in the industry for 38 years. Mark breaks down this uncomfortable subject, explaining everything from how an estate plan should be part of a larger financial plan to the various components of an estate plan.

Throughout our discussion, Mark navigated several complex questions, with simple, easy-to-understand explanations that will (hopefully) leave you feeling motivated and empowered to begin working on your own estate plan. Some of these questions include:
• Who should have a will?
• What is a power of attorney and an executor?
• Are DIY wills worth the savings?
• What taxes apply to your estate?
• What is probate?
• Is it worth it to try to minimize probate?
• What mistakes are people making with their estate planning?

If you’re a 6-figure millennial or if you have a specific topic you would like to discuss on the podcast, we would love to talk to you! Reach out to us at [email protected] or find us on FB/Instagram.

Kids are a blessing, but they can also be SCARY expensive. What costs should you expect? Or how can you trim down some o...
10/13/2022

Kids are a blessing, but they can also be SCARY expensive. What costs should you expect? Or how can you trim down some of those costs? Which costs SHOULD you try to cut down on? If you’re like Will, you’re hoping we don’t suggest cutting down that food bill 😛 Join Will, Tim and Jules for a discussion on everything to do with kids, including:

- How much will you probably spend on your child from birth to when they become an adult?
- Making it through the baby stages on a budget
- The back-to-school marketing scam
- The new government child care funding
- Sports and activities
- The biggest (yet perhaps least expected) cost of having a child

We would love to hear your thoughts! Do you think kids are expensive?
What are some things you do for free family activities?

Also, if you want some in-depth information on the RESP, we HIGHLY recommend that you listen to Episode 32, where we have a special guest, Court, who comes on and talks about EVERYTHING to do with RESPs. You won’t want to miss that one either!

If you like the show, feel free to give us a review on apple podcast to help us reach more people. As well if you would like to come on the show feel free to reach out to us at [email protected] or find us on IG or FB Financial Classroom Canada.

https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8zNGFlMGNlOC9wb2RjYXN0L3Jzcw/episode/NWMzZTM3NGEtNGJiZS00ZDA3LWE1YmMtYWFmMTAzNTJmNTdl?hl=en-CA&ved=2ahUKEwj0yfrpz936AhWxI30KHZr_AhoQjrkEegQIBxAH&ep=6

2022 has been a rough year in the market and two days ago the Nasdaq 100 dropped more than 5% just in 1 single day! Its ...
09/15/2022

2022 has been a rough year in the market and two days ago the Nasdaq 100 dropped more than 5% just in 1 single day! Its biggest since 2020, although it can be scary to see your portfolio drop so much in a single day, it is wise to continue investing during this bear market. In 2008 during the financial crisis, if someone had invested during the crash and continued investing they will be very wealthy today, the same goes for the 2000 dot com bubble crash, the 2020 Covid crash, and every other crash. The stock market has recovered every single time, and if you believe that the human race as a whole will continue to innovate and grow then those companies overtime will continue to expand as well. Don’t focus on the short term when it comes to investing, zoom on the charts and you will see that overtime the markets will recover and go up higher.



Remember the key to wealth is always: Live on less than you make, invest everything remaining and do so for a long long time.



Have you continued to invest during the 2022 market crash?

In today's 6-Figure Millennial episode, we talk with Darcy from "We Want Guac" blog. Darcy's journey has brought her fro...
09/15/2022

In today's 6-Figure Millennial episode, we talk with Darcy from "We Want Guac" blog. Darcy's journey has brought her from the humble beginnings of living in a shared attic apartment with no heat or AC after graduation. Fast forward, and she has managed to amass a $270k net worth at 28 years old. Listen as Darcy talks about several aspects of this journey, such as:

- Her mindset on living in the attic, and how she navigated this living situation
- How Darcy began investing and what resources she used to learn how to invest
- Darcy's mindset when the March 2020 market crash hit
- How building a nest egg can give you leverage in your work situation
- How much money you need to invest before 30 years old to (theoretically) be able to retire

Darcy also spoke about her blog and how she is using it as a tool to reach Gen Z to develop their careers, build their income, and gain investing knowledge early on in life. Spoiler alert! One of these tools may or may not include writing a rap song that is....shall we say "FIRE"? And we may or may not have featured a clip of this song in the episode.

If you’re a 6-figure millennial, we would love to talk to you! Reach out to us at [email protected] or find us on FB/Instagram. Please also reach out to Darcy through any of the following socials:

Blog: https://www.wewantguac.com/start-here/
IG:
Twitter:
"We Want Guac" Song: https://www.wewantguac.com/music/

In today’s episode, we have Ruthy and Ryan, two spcial guests from Calgary who decided to take a 2-year break from their...
06/30/2022

In today’s episode, we have Ruthy and Ryan, two spcial guests from Calgary who decided to take a 2-year break from their jobs and travel with their kids all the way across the world to help people. So many wish they had the guts and financial stability to pull this off, but few do. Take a listen, and hear what Ruthy and Ryan had to say about:
How Ryan and Ruthy made the decision to pack up and leave
How paying off debt frees you up to make big life decisions
Cultural differences in how people think about money
Lessons Ruthy and Ryan have learned along the way
Ryan’s disdain for fish, and how that is working out for him while living on a boat

If financial coaching interests you, definitely reach out to Ruthy at:
FB: Financial Coach Ruthy
IG
Blog/Website: https://www.financialresuscitationwithruthy.com

Or check out Mercy Ships at:
Mercy Ships Canada: https://mercyships.ca/en/

EPISODE! FIFTY! We HAD to do something special for our 50th episode, and it just so happened that Tim hit 6-figure net w...
04/13/2022

EPISODE! FIFTY! We HAD to do something special for our 50th episode, and it just so happened that Tim hit 6-figure net worth at the same time as we were scheduled to release our 50th episode. Take a listen as Tim shares his story of growing up with frugal parents, overcoming student loans and how budgeting catapulted him from a negative net worth to a 6-figure millennial in a matter of a few years.



Other topics that were discussed include:

-How tracking your spending can change your trajectory

-Saving and investing on an everyday person’s salary

-Tim’s most recent purchase

-How a recent episode impacted said purchase

-Tim’s financial goals



Also, if. you haven’t already checked it out, go and give Jules’ 6-figure millennial interview a listen. It was released on October 12, 2020.

Today Tim, Jules and Will spoke about the recent downturns in the stock market and how to invest in it as well the oppor...
03/18/2022

Today Tim, Jules and Will spoke about the recent downturns in the stock market and how to invest in it as well the opportunity cost of spending money and using your time.

We dug deeper and asked people to understand the true meaning of understanding volatility and discussed how market downturns can really test an investors ability to withstand risk but also benefit long term investors.

The guys and gal also talked about how important it is to enjoy the journey along the way; to experience life now as well and not live in a life of deprivation just to try and reach that financial independence life.

After listening to this episode we challenge you to do something random, something that makes your life better, doesn’t have to be expensive, but something that will bring you joy.

Check out the article that we talked about:

https://patriotone.substack.com/p/opportunity-cost?s=r

If you like the show feel free to give us a review on apple podcast to help us reach more people. As well if you would like to come on the show feel free to reach out to us at [email protected] or find us on insta or FB Financial Classroom Canada.

One of our favourite guests, Chris Scheele from Forerunner Financial Coaching, returns to the show to talk with us about...
03/16/2022

One of our favourite guests, Chris Scheele from Forerunner Financial Coaching, returns to the show to talk with us about aligning your finances with your personal values. In this episode, Chris touches on what your budget reveals about your priorities, assigning purpose to your savings, and how no one can help you change unless you decide that YOU WANT to change.

Being a financial coach, Chris has hands-on experience working with clients to align their finances with what is most important to them, and helping them to identify and achieve their goals. As you listen to this episode, it will become evident that Chris sees money as more than just a mode of transaction or a means of amassing wealth; he sees it as a tool and as a way to attain more of the things that matter most to you.

Great conversations were also had around the following topics:
- The importance of talking about money
- Purchasing out of habit vs. out of personal value
- Why you shouldn’t get nervous when the stock market is volatile
- Tips if you’re just starting with investing
Chris was previously on the Financial Classroom Podcast on Episode 15: Renting vs. Buying. If you have not listened to this episode, we highly recommend you check it out.

Be sure to follow Forerunner Financial Coaching on Facebook, Instagram and LinkedIn, and to check out Chris’s website, forerunnerfinancial.ca

Mindset. realestate. Wholesaling. Entrepreneurship. Today we had on Brendan Skilton-Douglas the man behind nofluffwholes...
02/16/2022

Mindset. realestate. Wholesaling. Entrepreneurship. Today we had on Brendan Skilton-Douglas the man behind nofluffwholesaling.ca and ashtonfisher.ca From tree climber to realestate wholesaler we had the pleasure to sit down with Brendan to talk about how mindset is so important to help you get out of debt, and understanding how a mindset shift can change your financial future. He started his company Ashton Fisher in real estate and went from working for the government to starting his own real estate company. Many people dream of quitting their 9-5 and starting up their own company but not many people actually go for it. What does it take to go all in? What kind of mindset does an entrepreneur need to have to take that step? Who are you and does your career give you identity? What are your core values and are you living in alignment with them?
A few other things we touched on:
- Rent to own "No risk will kill you slowly, too much risk will kill you"
- Say you like yourself - mindset
- How finances relate to values
- Psychology of finance
- How to step out of your comfort zone and change your mindset.
Todays conversation was so much fun, we hope you enjoy it as much as we did! Please like comment and share this podcast episode. Brendan Skilton-Douglas Ashton Fisher

Do you want to have someone else pay your mortgage for you? Of course you do, especially in today’s increasingly expensi...
02/10/2022

Do you want to have someone else pay your mortgage for you? Of course you do, especially in today’s increasingly expensive housing environment. Jase and Sarah came on the podcast today to discuss how they have made this their reality, and how you can follow suit.

In this episode, Jules, Tim, Jase and Sarah discuss what house hacking is, how they began their house hacking journey, and how you can use it as a powerful wealth building tool.

They go on to provide valuable insights into what kinds of renovation work ANYBODY can do, and which renovation work should be left to the professionals. They also discuss how to find the best tenants, the concept of short-term sacrifice for long-term benefits, and their upcoming endeavours into real estate investment partnerships.
Jase Matthew

If you want to learn more, Jase would love for you to find him on Facebook under “Jase Matthew” and ask him whatever questions you may have.

Do you want to have someone else pay your mortgage for you? Of course you do, especially in today’s increasingly expensi...
02/10/2022

Do you want to have someone else pay your mortgage for you? Of course you do, especially in today’s increasingly expensive housing environment. Jase and Sarah came on the podcast today to discuss how they have made this their reality, and how you can follow suit.

In this episode, Jules, Tim, Jase and Sarah discuss what house hacking is, how they began their house hacking journey, and how you can use it as a powerful wealth building tool.

They go on to provide valuable insights into what kinds of renovation work ANYBODY can do, and which renovation work should be left to the professionals. They also discuss how to find the best tenants, the concept of short-term sacrifice for long-term benefits, and their upcoming endeavours into real estate investment partnerships.

If you want to learn more, Jase would love for you to find him on Facebook under “Jase Matthew” and ask him whatever questions you may have.

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Saskatchewan

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