EP060 Young Money’s 1st Birthday – Ask Me Anything!

The Young Money Podcast is one year old, and the feedback and reviews I’ve received from my listeners have truly been heartwarming. Over the last year, it has been my privilege to help young millionaires-in-the-making demystify personal finance concepts and learn strategies to become financially fit through the stories, insights, and successful entrepreneurs we have featured on the show.

 

On today’s special episode, I answer some of your most pressing questions on money and finance. I explain the difference between government and non-government student debt, why you should not comingle these types of debt, and strategies you can use to evaluate and consolidate your debt. I explain how university students can still apply for scholarships, even after they’ve started their post-secondary education. I also share what you should consider when taking out a line of credit and how some outstanding lines of credit can impact your ability to qualify for certain loans.

 

“Certainly, when you graduate school – whether it’s college, university, whatever it may be – you want to do an evaluation of how much debt that you do have.” – Tracey Bissett

 

 

This Week on Young Money:

 

• Why you should not comingle government debts, like OSAP, with non-government debt from financial institutions.
• The types of scholarships post-secondary students can apply for and how they differ from those you apply for before entering a post-secondary school.
• What to consider regarding lines of credit.
• How an outstanding line of credit could impact your ability to qualify for certain loans.
• Best practices for consolidating debt and how to determine when to cancel your line of credit.

Resources Mentioned:

 

• Caller #1’s question:  Episode 52: The  Debt Free Graduate with Murray Baker
• Caller #2’s question:
• • Episode 30: Janet MacDonald of MYCAMPUSGPS Navigates Postsecondary Education
  • Episode 42: Best of Tips for Postsecondary Education
  • Episode 48: Increasing Access to Post Secondary Education with Shelley Clayton
• Caller #3’s question:  Episode 56: Back to Basics – The 5Cs of Credit

 

 

Get Your Young Money Questions ANSWERED!

 

Want to learn more about your credit score and how you can stay financially fit? Leave a voice message to get all of your Young Money questions answered.

Remember – there is no silly question when it comes to your financial fitness.

 

Rate, Share & Inspire Other Young Millionaires-in-the-Making

 

Thanks for tuning into the Young Money Podcast – the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review, just follow these easy steps :

STEP 1: Go to the iTunes page for the Young Money with Tracey Bissett here

STEP 2: Click the “View in iTunes” button.

STEP 3: Once iTunes has launched, you will see the Young Money with Tracey Bissett podcast thread. Click the ‘SUBSCRIBE’ button (if you have not already subscribed). You’ll be asked to sign into your iTunes account. Then click on the ‘Ratings and Reviews’ tab.

STEP 4: Click on the ‘Write a Review’ button. You must be logged in to write a review.

STEP 5: Rate the podcast by selecting between 1 to 5 stars, leave a review, and click ‘Submit’.

Your review will go through an approval process and can be viewed within 48 hours (if approved).

 

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Check out this episode!