Episode 88: Financial Fitness: The Younger Our Kids Learn About Money The Better  

Financial Fitness Trainer Tracey Bissett joins us to explain how financial health can be improved just like physical health… and the practical building blocks to do so. She’s a passionate believer that financial literacy is a fundamental life skill, and preaches the lessons she has learned in her 20 years experience in finance.

Tracey is an expert in taking control of your financial life and living it with confidence. Chief Financial Fitness trainer of Bissett Financial Fitness, inc., she educates and empowers individuals, particularly young people and entrepreneurs, every day to improve their “Financial Health”.

She shared with us how your financial health can affect all other aspects of your life, the very first thing anyone with a great business idea should do, and how doing that upfront work will make any entrepreneur’s life easier. She also told us about the meeting she recommends you have with yourself every week – the ‘Money Meeting Agenda’ – which promises to improve your financial planning in just ten minutes at a time.

If you want to find out more about Tracey’s Financial Fitness coaching, head to bissettfinancialfitness.com/cash-coach/, and check out her podcast, Young Money: the advice show for young millionaires in the making. 

In This Episode you will hear:

• [03:21] The background of expertise that led to Tracey becoming a Financial Fitness coach.
• [06:35] The first thing any entrepreneurs with a great business idea should do 
• [07:37] The mistakes Tracey made that proved to be the greatest teachers of all 
• [11:31] How to value your own time when providing a service
• [21:39] Tracey’s advice to anyone who wants to start their own course 
• [24:50] What the ‘Money Meeting Agenda’ is and how spending just ten minutes a week on it can improve your financial health 
• [34:23] The best and worst financial decisions of Tracey’s life – and how we can learn from them

Takeaways: 

• The younger you start understanding your finances, the better, and that includes saving for retirement
• Set aside time every week to have a meeting with yourself to stay on top of your own finances
• Being an entrepreneur is tough, so start a business as a side hustle before you choose to plunge into it full-time 
• Women tend to undervalue their time – there are a number of factors you should build into an hourly rate when charging for your work

Meet Tracey Bissett

Tracey is an accomplished financial services professional, with 20 years of working with clients from all walks of life to help them achieve their financial goals. She is also President and Chief Financial Fitness Trainer of her company, Bissett Financial Fitness Inc.

As a former executive at TD Bank, one of Canada’s big five banks, Tracey uses her financial management expertise and passion for ‘financial fitness’ to help her clients understand and improve their level of financial fitness and increase their confidence in using their financial skills so they can be successful in their financial life. 

She also teaches in the financial services faculty within the business school at Toronto’s Centennial College, and is the executive producer and host of the Young Money podcast. Put simply, everyone’s financial fitness can always be improved… and Tracey is the ultimate personal trainer.