Welcome to The MapleMoney Show, the podcast that helps Canadians improve their personal finances to create lasting financial freedom. I’m your host, Tom Drake, the founder of MapleMoney, where I’ve been writing about all things related to personal finance since 2009.
For young people, college can be a crazy time of life for many reasons, including when it comes to managing money. Young people face many financial challenges, from learning to save to managing debt, and keeping spending under control.
My guest this week is Robert Brown, author of the popular book, Wealthing Like Rabbits. In this jam-packed episode, Robert and I discuss several ways that young people can stay on the right track when it comes to their finances.
Robert explains his disdain for payday loan companies, and how his message to students about credit card debt is rooted in his own experience, as he dropped his daughter off at college.
There are three things that Robert tells every student. Stay out of ‘stupid debt’, screw the ‘Joneses’, and be committed to starting a long term savings plan as soon as possible. We discuss all of these and more, right here on The MapleMoney Show!
This week’s show is brought to you by our sponsor, Wealthsimple. Their Smart Savings account offers higher interest rates than the big banks, and there are no fees on deposits and withdrawals. Find out more about Smart Savings, from Wealthsimple, today!
- Robert is the author of the popular book, Wealthing Like Rabbits.
- The most important part of personal finance is the personal part, however….
- …there are certain principles of personal finance that apply to almost everyone.
- How these principles are applied can vary greatly, from person to person.
- Three financial rules that all college students should follow.
- Why Robert doesn’t teach students about investing.
- Students are being pushed into credit cards, without being properly informed.
- The dangers of borrowing to purchase depreciating assets.