30. Money Myths: Why Budgeting Alone Won’t Build Wealth and When Debt Can Be Good

36 - 36 - Gamifying your Debt, One-Income Security & Private Equity for Beginners

In this TGIF (Two Girls Investing Friday) episode, Jess & Colleen catch up on Jess’s music studio recording process. They then explain private equity by contrasting private vs. public companies, using examples like Dragon’s Den and startup investors, and describe how everyday investors can access private equity indirectly by buying publicly traded private equity firms or ETFs that hold them, noting higher potential returns but higher risk and suggesting it as a small, advanced allocation. They answer a question about investing as a single mom by emphasizing a strong foundation including an emergency fund and paying off high-interest debt, and discuss budgeting and portfolio planning using percentages, plus using credit score tracking as a way to gamify debt payoff and motivation. 00:00 Welcome to TGIF 00:34 Studio Recording Recap 00:54 Click Track Check 03:28 Karaoke 04:58 Private Equity Basics 08:10 How You Can Invest 10:56 Returns and Risk Talk 14:47 Portfolio Percent Allocations 16:54 Single Income Listener Question 19:10 Budgeting in Percentages 21:36 Credit Score Motivation Game 23:33 Wrap Up and Next Week

35 - Hidden Rental Costs, Business Expenses & is the FHSA Right for You?

Jess & Colleen discuss unexpected “hidden costs” in investing, homeownership, and business operations. Jess shares surprises from a newly purchased up/down duplex rental property, including an unfinished backyard, choosing gravel over grass to reduce tenant maintenance, and contractor quotes for wood privacy fence and gravel. Colleen shares hidden business costs, moving from manual Excel payroll calculations to scheduling/time-tracking and payroll platforms costing about $70–$80 per month to save time and reduce errors. The episode explains Canada’s First Home Savings Account (FHSA): contributions reduce taxable income like an RRSP, withdrawals are tax-free for a first-time primary home purchase without repayment, the annual limit is $8,000, and the lifetime limit is $40,000; they note investing choices should reflect a homebuying timeline and plan to discuss private equity next episode. 00:00 Welcome to TGIF 00:34 Weekly Catch Up 00:51 Rental Hidden Costs 01:55 Fence Quote Shock 05:43 Business Payroll Costs 07:56 FHSA Basics Explained 10:33 Investing Timeline Tips 12:18 FHSA Limits and CRA 14:43 Primary Home Rules 16:17 Landlords and Balance 17:17 Next Week Preview 17:34 Wrap Up and Follow

34. You've Maxed out Your TFSA, RRSP and FHSA...Now What?!

Jess and Colleen discuss balancing summer adventures with finances, praising Jess’s discipline after a big Africa trip and her plan to do mostly local activities in Yukon, with only a short, costly trip to Haines, Alaska, while saving vacation money for winter travel. They compare this delayed-gratification approach with the other host’s summer expenses for children, including costly camps ($400–$600 per child per week) and $1,500 in activity fees, noting the childcare challenges for working parents. They share listener comments about the podcast’s global reach and Canadian focus, then answer a question from Kelsey about what to do after maxing TFSA, RRSP, and FHSA: pay down high-interest debt, invest in a non-registered personal account (taxed on sale via capital gains), optionally adjust payroll taxes via TD1, consider real estate or REITs, RESPs for kids, and potentially private equity with higher minimums. They plan a future FHSA episode. 00:00 Welcome to TGIF 00:34 Summer Spending Choices 03:12 Kids and Camp Costs 06:33 Listener Love and Reach 08:12 Maxed Accounts Next Steps 09:14 Non Registered Investing Taxes 11:24 FHSA Explained Briefly 12:07 Real Estate and RESP Options 13:45 Private Equity Teaser 14:57 Wrap Up and Next Episode

33 - Canadian Investing Made Simple: TFSA, RRSP, ETFs, REITs & Tickers Explained

Jess and Colleen, hosts of TGIF, Two Girls Investing Friday share a personal update about Jess recording original music in a studio for the first time, then continue their investing discussion from the prior episode by outlining what you can hold inside registered accounts like a TFSA, RRSP, and FHSA (and also non-registered accounts): stocks, bonds, ETFs (including all-in-one stock/bond ETFs), high-interest savings accounts, GICs, and REITs that can pay monthly distributions. Colleen explains ETFs using a fruit analogy to highlight diversification and reduced risk versus individual stocks. They also clarify how tickers work, including suffixes like “.U” for USD-traded versions, and how to search for Canadian options by looking for TSX listings in Wealthsimple to avoid currency exchange fees, while emphasizing research, readiness steps, and robo-advisor alternatives 00:00 Welcome to TGIF 00:30 Studio Recording Plans 01:42 CDs to Spotify 03:32 Wealthsimple Investing Options 04:29 Stocks vs ETFs Explained 05:42 Why Diversification Wins 07:27 REITs and Dividends 08:10 Ticker Symbols Demystified 09:47 Finding Canadian ETFs 12:23 TSX vs NYSE on Wealthsimple 15:26 Robo Advisors and Readiness 16:20 Wrap Up and Next Episode

32 - Setting Up Automated Investing in Wealthsimple (Plus Debt Payoff & Travel Compensation Wins)

In this episode of TGIF: Two Girls Investing Friday, Jess and Colleen catch up and share some massive weekly wins! One paid off a huge chunk of personal debt in about three months by focusing on lowering credit utilization and tackling higher-interest balances, while the other successfully claimed airfare compensation after an overnight delay (pro-tip: delays over three hours may qualify!). They then walk through setting up automated, recurring investments in a Wealthsimple RRSP to help reduce taxable income, explaining ETFs and key index concepts along the way. Using examples like VFV (Vanguard S&P 500 ETF), VDY (high dividend Canadian ETF), and adding XAW (global equities), they demonstrate exactly how to select “buy on a schedule,” choose your frequency and start date, and ensure your purchases occur inside an RRSP or TFSA rather than a non-registered account. Finally, they preview a future episode on investment options and portfolio considerations so you can keep building your confidence! Note: In the episode, we refer to a global ETF excluding North America as "VI"—the correct ticker symbol is VIU! Connect with us on: TikTok: @twogirlsinvesting Instagram: @twogirlsinvesting 00:00 Welcome to TGIF 00:34 Sunny Catch Up 01:04 Debt Payoff Win 02:01 ADHD Debt Strategy 03:35 Investing for Taxes 04:08 Flight Delay Payout 05:55 Automation Setup Intro 06:47 VFV and Index Basics 08:23 VDY Dividends Explained 09:01 Recurring Buys Walkthrough 10:17 Add Global ETF XAW 12:13 Next Episode Teaser