Jess hosts TGIF solo while Colleen is away and answers a listener question from Pam about using Wealthsimple and whether to invest through a TFSA or RRSP. She explains Wealthsimple as a Canadian fintech offering chequing and investing accounts, and reviews three investing approaches: traditional financial advisors, robo-advisors, and self-directed investing, emphasizing how higher fees can significantly reduce long-term returns. Jess breaks down how TFSAs work and how RRSPs differ. She shares a common guideline of using $50,000 income to help decide, notes many people use a hybrid approach, clarifies RRSP withdrawal options including the Lifelong Learning Plan and First-Time Home Buyers Plan, and reminds listeners they can hold multiple TFSA/RRSP accounts without overcontributing.

00:00 Welcome to TGIF

00:34 Jess Solo Update

00:54 Listener Question Setup

01:17 What Is Wealthsimple

02:34 Ways to Invest

03:48 Why Fees Matter

06:36 TFSA Explained

09:29 RRSP Explained

12:14 TFSA vs RRSP Rules

14:19 RRSP Withdrawal Options

16:41 Multiple Accounts Limits

17:49 Wrap Up and Thanks

Jess and Colleen catch up on busy family schedules and rising costs, then discuss tax surprises when owning businesses, prompting plans to calculate and set aside amounts monthly and contribute more to RRSPs while balancing liquidity. They continue their “money myths” series, emphasizing that budgeting and saving are essential foundations but not enough for wealth and time freedom; investing to outpace inflation and increasing income through job changes, negotiating (especially for women), or side hustles are key accelerators. They also challenge the idea that all debt is bad, distinguishing high-interest consumer debt from productive debt like mortgages or business loans, and describe how wealthy people may borrow against assets to avoid selling and triggering taxes. Next episode addresses TFSA vs RRSP and Wealthsimple.

00:00 TGIF Podcast Intro

00:34 May Schedule Chaos

01:07 Kids Sports Costs

02:33 Tax Season Surprises

04:22 RRSP Planning Balance

06:24 Money Myth Budgeting

08:30 Boost Income Strategies

11:26 Money Myth Debt

13:38 Rich Use Leverage

15:19 Wrap Up Listener Qs

In this TGIF (Two Girls Investing Friday) episode, Jess and Colleen introduce a discussion on common money myths and share a preview of two major ones. First, they debunk the idea that you need to be rich to start investing, noting that fractional shares and dollar-cost averaging make it possible to begin with very small amounts, especially when investing is automated from each paycheck; they also mention the importance of a foundation like paying off high-interest debt, building an emergency fund, and understanding timelines, while warning that holding large cash balances can lose value to inflation and miss potential gains. Second, they challenge the belief that a higher income automatically makes someone wealthy, emphasizing lifestyle creep, debt-financed “looking rich,” and the need for money management skills at any income level. They tease more myths for the next episode and invite listeners to share their own.

00:00 Welcome to TGIF

00:34 Yukon Spring Catch Up

00:48 Money Myths Intro

01:09 Myth One Start Investing

02:05 Fractional Shares Explained

03:18 Automation and Inflation

05:09 Myth Two High Income

06:07 Lifestyle Creep Examples

06:55 Debt Versus Wealth

08:45 Wrap Up and Next Week

Jess and Colleen share that their podcast is about sharing their different financial journeys to normalize Canadian women talking about money, reduce isolation through community, and highlight how finances affect stress, mental health, and relationships, noting finances as a leading cause of divorce in Canada and that AI can’t replace real community support. They invite listeners to comment, share wins and stories, download free and paid resources, and suggest ideas for what the community should look like. The episode then returns to beginner investing mistakes: investing without a clear plan, goal, or time horizon; taking too much risk for short-term goals (where a high-interest savings account may be better); insufficient diversification across geographies and sectors; panic selling during market downturns; and ignoring fees, especially high mutual fund fees compared with lower-fee ETFs, including asking advisors to show long-term fee impacts. Next week’s topic is money myths and mindset.

00:00 Why We Podcast

00:22 Money Community Matters

01:01 Stress Mental Health Link

01:38 Beyond AI Support

02:18 You Are Not Alone

02:48 Join The Community

03:26 Beginner Investing Mistakes

03:45 Plan Goals Time Horizon

05:22 Diversification Basics

07:08 Learn Before You Invest

08:20 Avoid Panic Selling

10:25 How Often To Check

12:30 Fees Can Destroy Returns

14:30 Next Week Money Myths

14:51 Wrap Up And Share

Jess returns from a short hiatus with updates on her upcoming house purchase, complex tax preparations, and plans to record her music. The conversation shifts to credit card points strategies. Jess explains why she prefers a card with no foreign transaction fees and maximizes value by redeeming points for travel instead of statement credits. Jess and Colleen note the importance of paying off the balance every month. Finally, they tackle common beginner investing mistakes like emotional trading and chasing fast returns through individual stocks. They recommend replacing those mistakes with proven long-term habits: relying on diversified ETFs, dollar-cost averaging, automating investments, and prioritizing time in the market.

00:00 Jess Returns Update

00:42 Taxes And House Prep

01:26 Studio Plans Postponed

02:09 Songwriting Journey

03:08 Credit Card Points

05:20 Redeeming Points Smartly

07:25 Beginner Investing Mistakes

07:49 Stocks And ETFs

15:13 Time In Market DCA

16:50 Wrap Up And Next Episode

In this TGIF Two Girls Investing Friday episode, Colleen continues a conversation with guest Jaya while Jess is away, focusing on credit card points strategies. Jaya explains she never carries a credit card balance and emphasizes that welcome offers work best when you pay in full, since interest can erase rewards value. They discuss minimum-spend requirements, typical bonus ranges, and using planned expenses (not extra spending) to earn points, including having spouses apply separately to double welcome bonuses. Jaya shares how she booked a Bora Bora overwater bungalow for five nights for about $738, plus flights using points, and outlines using transferable points and timing transfers only when ready to book. She covers managing annual fees via a travel budget, leveraging first-year-free offers, and calling banks for product-change offers to earn additional bonuses while maintaining credit history.

00:00 Podcast Intro

00:34 Episode Setup With Jaya

01:03 No Balances Rule

02:11 Welcome Offers Strategy

03:28 Bora Bora Points Win

05:23 Earning Fast Without Overspending

07:03 Planning Future Trips

08:18 Europe Booking Tactics

10:00 Cancel Downgrade Credit Impact

11:00 Annual Fees And Product Changes

12:53 Beginner Tips And Takeaways

13:43 Guest Plug And Wrap Up

Colleen hosts TGIF Fridays without Jess and interviews Jaya, a Yukon-based traveler and mom of four, about using points and miles to reduce travel costs. Jaya emphasizes first understanding the value and redemption options of existing points (e.g., statement credits vs bank travel portals), then choosing cards with category multipliers, and eventually using transferable points via programs like RBC Avion and American Express. She discusses transferring points to airline partners, timing transfers only when ready to book, and using welcome offers by meeting minimum spend without carrying balances. Jaya shares booking a Bora Bora overwater bungalow for $738 for five nights (vs $2,000/night) using 271,000 Marriott points, plus flights using points (including 85,000 points per person). She covers annual-fee strategy, first-year-free offers, product changes, and keeping the oldest card open for credit history.

00:00 Welcome and Guest Intro

01:29 Why Travel Points Matter

03:44 Maximizing Your Current Points

07:19 Transferable Points and Flight Strategy

09:50 Everyday Spend Multipliers

11:48 Ethical Amex Use and Transfers

14:18 Part One Wrap and Teaser

15:11 Part Two Welcome Back

15:56 No Balances and Welcome Offers

18:58 Bora Bora on Points Breakdown

23:02 Planning Future Trips and Europe

27:12 Managing Multiple Cards and Credit Score Tips

29:37 Annual Fees and Product Changes

33:12 Beginner Advice and Closing

In this TGIF Two Girls Investing Friday episode, Jess & Colleen chat about lingering winter weather and concerns about snowmelt flooding. They share embarrassing money stories, including late-night postpartum purchases, which leads into a discussion on how small app charges and forgotten subscriptions can add up. They recommend regularly reviewing phone subscriptions and note that companies may refund accidental renewals. They also discuss saving money through meal planning, highlighting the Mob app that builds grocery lists from selected recipes, and mention online grocery shopping for budget control. Finally, they address recent market volatility tied to disrupted oil supply during a war in Iran, emphasizing long-term investing, dollar-cost averaging, buying opportunities during corrections, mindset and language shifts ("down" vs. "lost"), risk tolerance, diversification, and teasing future episodes on starting with Wealthsimple, beginner mistakes, and money myths.

00:00 Podcast Welcome

00:34 Back After A Break

00:44 Cold Weather Catch Up

01:37 Embarrassing Money Story

04:52 App Spending Adds Up

07:15 Meal Planning App Hack

09:39 Grocery Shopping Strategies

10:41 Market Dip And Mindset

11:39 Stop Predicting Markets

12:31 Volatility Is Normal

13:48 Stay the Course

14:19 Headlines and Fear

15:16 Mindset and Language

17:21 Time Horizon and Diversification

19:43 Risk Tolerance Check

20:41 Market Manipulation Talk

24:22 Buy the Dip Mindset

25:03 Next Episodes and Wrap