love this money check-in updates!! as a small business owner myself, it was interesting to learn about the costco phone plans - going to look into it. great video as always Steph & Dan!
Hi Steph & Den you are so inspiring and wise for your age! I’m almost double your age but love your content! Congrats on a wonderful mid-year check in. Great job on traveling and making memories 🎉
My tip regarding wedding expenses is to consign the bridesmaid dress after the wedding to get some of your money back! I did that last summer. I made $65 back after selling it through a consignment store. I may have been able to make more money if I sold it directly to someone, but I don't have the time to go through the hassle of that.
Having the knowledge of knowing where your money is going is I think the key to it all! Without that knowledge you could feel out of control and not realize you are leaking money in places that you don't need to.
You two are just so professional, interesting and likable! Keep up the good work 👏. One travel tip, when you look at Airbnb sometimes the host will put a name like “Casa Maria”. Google it, they might have a website where you can book directly without the ridiculous high fees. Also, don’t underestimate hotels. There are very reasonable rates out there, often offering breakfast and it’s cheaper than Airbnb. Have fun planning, you will looooooove Spain and Portugal 😊
You’re both an inspiration with your financial management and goals. How I wished I was that wise when I was in my 20s with personal finance!😅 Keep it up guys - from a fan in New Zealand 🇳🇿
Omg so excited for you both to go on vacation! I travelled to both last year and loved it so much. Something I did to save money is on Airbnb because it was cheaper than hotels and they were really nice and clean - plus it felt nice to be living like a local. The food was relatively cheap, like $2 for wine or coffee and $15 for pasta that it didn’t feel like I splurged on food as much I thought I would.
You guys will love Portugal - just got back from a weeklong trip there. Check out the beaches near Lisbon, I also really enjoyed doing an e-bike tour of course the city’s historical neighborhoods!
Love your videos so much! You guys are very disciplined and financially responsible, keep up the great work. Also, technically speaking, your videos look amazing!!!
I am just starting to enjoy life. I took a 5 week drive around the U.S. that cost 7K. I never spend money, so this was a big deal. I cash flowed the trip which was a first. Die With Zero is the book that got me spending. I am back to saving.
Thanks for the video. I was doing my budget for November and looking at how much I have invested so far in the year and it is good to have you guys as a benchmark. I googled the average savings of Canadians and Americans and the numbers are surprisingly low (I think I saw 6000 dollars a year of savings somewhere).
When I get a dividend payment from Wealthsimple does that go straight into my bank account or does that go into the account I have the shares in like if I have shares in my TSFA does the dividend payment go into my TSFA??
Another super useful video! I just got a new phone plan and 100% agree, it is PAINFUL. My partner and I went to Portugal last December - you will LOVE it, so exciting to see you taking this time for yourselves. And if you are going in the fall/winter, it is significantly cheaper and therefore easier to budget for - while still being able to enjoy yourselves fully. To save money there as well, groceries are very cheap, especially seafood. So if you have a kitchen wherever you are staying, I'd recommend spending a few nights in to make dinner/lunches. In terms of my biggest expense this year, it's probably the culmination of expenses going towards a big move (to Ottawa) that my partner and I are doing very soon :)
Thanks so much for the tips 😊 We’ll be in Airbnb’s for 2/4 spots, so we’ll definitely be taking advantage of the kitchen and the laundry, too! Also, have fun with the big move! That’s exciting 🙌🏿🙌🏻
Biggest expense for us this year was our holiday in Malaysia & Thailand! Of course we used our cash back apps whilst booking accommodation 😉 It was our first BIG trip since 2019 (because Covid! Sigh!) so we did treat ourselves a bit more than usual BUT we all loved it!!! Absolutely worth every penny!🙌🏻🙌🏻 Enjoy Spain & Portugal x
Question: how do you stay on top of entering your expenses into your budget? I find it so tedious to add it all up, even in a spreadsheet. Is there a way to make it easier?
Good question - it can be tedious! I find that it's easiest to add to my spreadsheet throughout the month - I have two credit cards, so I'll open up the mobile app for each one, and type in the date / expense / amount of each transaction in little chunks, so it only take a few minutes each time. Sometimes I'm less on top of it, but I always prioritize some time on the last day of the month to finish it off! I remind myself how good I'll feel at the end of the year if I actually stay on top of it which helps a little 😊
Hey - Suggestion for your travel if you don't do this already. I would see how you can leverage credit card points in order to book flight tickets through Aeroplan or other airlines. You will save hundreds of dollars and maybe even up-to $1000 per flight using points!! There's a ton of resources for Canadian credits cards and what provides the best value - I suggest the Prince of Travel videos for more info on this :).
I’ve never stayed in a hostel but I know a lot of people do because it’s cheaper than hotels. But I think when you’re traveling, treat yourself to a nice bed and a bathroom you don’t need to share with strangers. You’re away from home so you want to be comfortable. I don’t know - I think with travel, don’t skimp on stay, but there’s certainly no need to stay in luxurious 5-star hotels either!
Also, another tip to make travel lower cost is to buy some food from the local markets (i.e. fruit, nuts, crackers, maybe cheese if you have a fridge in the air b and b) and eat breakfast at the hotel/air b and b instead of eating out! You can also do this for lunch too- pack snack items to bring with you as you travel around, and then splurge on a nice dinner :) Saving some money on food like this can add up quite a bit over the two weeks! But you still can enjoy the local food, as I know the markets in Spain and Portugal are great and filled with super fresh fruit, cheeses, nuts etc. Enjoy your trip!
Ugh the bridesmaid bachelorette. I’ve spent over $30k on my friends bachelorette parties. (5 in total). I only go for my closest friends but it’s been very expensive weekends in Miami, Arizona, Vegas, Aspen etc. It’s the worst.
Hey Steph :) loved watching this catch up video! By investing, do you mean how you're still only investing in the Wealth Simple robo investing? And where did you end up opening your first fhsa?
As long as money isn't being wasted (ie. expensive vacations, dining out, cars) the key to financial freedom is increasing income. You have to do what it takes to increase your take home pay to get ahead.
You're going to Portugal and I wasn't invited??? HOW RUDE. hahaha, enjoy!! I've heard Portugal is nice. I think that'll be the first European country I visit when I muster up the courage to even travel to Europe.
@@stephandden I dont know what you were told but Portugal and Spain beetween later october and december is cold and rainy. Not Canada cold but still cold 🤣
lol what?😂 don’t think they’re married, they don’t have kids, they aren’t home owners and they’re hardcore budgeters. the vid is abt their life not urs 😅
I am too victim of procrastinating changing my phone plan - I literally paused the video when you were talking about it and logged on and changed to a cheaper promo phone plan, took 5 mins! Thank you for the motivation!
How is your rent so low? 😢 That's my biggest expense. Is there a special location in Toronto where you live?😂 Cellphone plans are dogshit in Canada and super expensive but I got a decent one for $40 a month which serves my needs.
We’ve been living in the same spot for the past 5 years which has helped since it hasn’t gone up very much during that time! But we hear you, it really is hard to find an affordable spot! Love that you found a $40 plan, that’s great 👏🏿👏🏻
@stephandden Those 2 are the biggest expenses for being a bridesmaid aside from hotel costs, but even guests will need to pay for accommodations if they're not local. Some brides even pay for their portion of the Bachelorette party. I guess you're getting the short end of the stick by needing to pay for so much.
Congrats on reducing cellphone bill. I pay 26,05 tax included in Montréal. 3 GB and I have leftover. The secret is to use WiFi at home and at work. That leaves little time to use data. And not watching non educational video while communicating helps (cat videos).
Nah there is no clock anymore…a woman can wait til she is 51 with frozen embryos…so we don’t have to listen to comments like this from a holes like you any longer😂🎉❤
What has your biggest expense been so far this year? Let us know! 👀
buying and renovating an apartment
I got another kitten🐈 (it's difficult to rescue a cat in Scotland so I had to buy one ) best money spent ever!
Congrats! 😊
Private school tuition for my daughter 😩
New kitchen appliances!
This makes sense. Enjoying youth, while still being able to save. A lot of people can learn from this.
Thank you 😊!
This transparency is honestly SO HELPFUL! I always wonder how anyone makes it work in the GTA, so I really appreciate this breakdown as an example.
So glad you liked it! 😊
love this money check-in updates!! as a small business owner myself, it was interesting to learn about the costco phone plans - going to look into it. great video as always Steph & Dan!
Thank you so much! And we’re glad to hear that! 🙌🏿🙌🏻
Hi Steph & Den you are so inspiring and wise for your age! I’m almost double your age but love your content! Congrats on a wonderful mid-year check in. Great job on traveling and making memories 🎉
Thank you so much! We appreciate you! 😊
Glad to hear the updates! Love to see how you keep up the good work guys
Thank you! 😊
My tip regarding wedding expenses is to consign the bridesmaid dress after the wedding to get some of your money back! I did that last summer. I made $65 back after selling it through a consignment store. I may have been able to make more money if I sold it directly to someone, but I don't have the time to go through the hassle of that.
That's a great idea re: the bridesmaid dress! I'll definitely look into doing that 😊 thank you!
Having the knowledge of knowing where your money is going is I think the key to it all! Without that knowledge you could feel out of control and not realize you are leaking money in places that you don't need to.
You two are just so professional, interesting and likable! Keep up the good work 👏. One travel tip, when you look at Airbnb sometimes the host will put a name like “Casa Maria”. Google it, they might have a website where you can book directly without the ridiculous high fees. Also, don’t underestimate hotels. There are very reasonable rates out there, often offering breakfast and it’s cheaper than Airbnb. Have fun planning, you will looooooove Spain and Portugal 😊
Thanks so much, we appreciate you! 😊
Ou, that’s a great tip re: the Airbnbs! We definitely need to look into that. 🙌🏿🙏🏻
I really love seeing you guys in the same frame.
😊 more to come in future videos!
You’re both an inspiration with your financial management and goals. How I wished I was that wise when I was in my 20s with personal finance!😅
Keep it up guys - from a fan in New Zealand 🇳🇿
Thank you so much! 🙏🏿🙏🏻
Omg so excited for you both to go on vacation! I travelled to both last year and loved it so much. Something I did to save money is on Airbnb because it was cheaper than hotels and they were really nice and clean - plus it felt nice to be living like a local. The food was relatively cheap, like $2 for wine or coffee and $15 for pasta that it didn’t feel like I splurged on food as much I thought I would.
You guys will love Portugal - just got back from a weeklong trip there. Check out the beaches near Lisbon, I also really enjoyed doing an e-bike tour of course the city’s historical neighborhoods!
We can’t wait! Happy to hear you enjoyed it there! 😊
Love your videos so much! You guys are very disciplined and financially responsible, keep up the great work. Also, technically speaking, your videos look amazing!!!
Thanks so much! 🙏🏿🙏🏻
I'm so happy you guys are doing all this travel! (While still keeping an eye on the budget of course lol)
Hahah, of course! Thank you! 😊
Wow, you guys are going to 🇪🇸 Spain and 🇵🇹 Portugal. I hope you enjoy your time there. And, I'm with Den, the cold sucks.
Thank you so much! We’re excited for it 😊 and ha, it really does!
I am just starting to enjoy life. I took a 5 week drive around the U.S. that cost 7K. I never spend money, so this was a big deal. I cash flowed the trip which was a first. Die With Zero is the book that got me spending. I am back to saving.
Wow, that sounds like a fun road trip! Happy to hear you’ve found a mix between saving and spending 👏🏿👏🏻 that’s great!
Thanks for the video. I was doing my budget for November and looking at how much I have invested so far in the year and it is good to have you guys as a benchmark. I googled the average savings of Canadians and Americans and the numbers are surprisingly low (I think I saw 6000 dollars a year of savings somewhere).
Thank you for your comment! 😊 Sadly the averages are definitely lower than ideal
Great to see you back on here❤
Thank you! 🙏🏿🙌🏻
Loved and missed these type of videos
🙏🏿🫶🏻
When I get a dividend payment from Wealthsimple does that go straight into my bank account or does that go into the account I have the shares in like if I have shares in my TSFA does the dividend payment go into my TSFA??
Another super useful video! I just got a new phone plan and 100% agree, it is PAINFUL. My partner and I went to Portugal last December - you will LOVE it, so exciting to see you taking this time for yourselves. And if you are going in the fall/winter, it is significantly cheaper and therefore easier to budget for - while still being able to enjoy yourselves fully. To save money there as well, groceries are very cheap, especially seafood. So if you have a kitchen wherever you are staying, I'd recommend spending a few nights in to make dinner/lunches. In terms of my biggest expense this year, it's probably the culmination of expenses going towards a big move (to Ottawa) that my partner and I are doing very soon :)
Thanks so much for the tips 😊 We’ll be in Airbnb’s for 2/4 spots, so we’ll definitely be taking advantage of the kitchen and the laundry, too!
Also, have fun with the big move! That’s exciting 🙌🏿🙌🏻
So excited for you two!
Thanks so much! 😊
Biggest expense for us this year was our holiday in Malaysia & Thailand! Of course we used our cash back apps whilst booking accommodation 😉
It was our first BIG trip since 2019 (because Covid! Sigh!) so we did treat ourselves a bit more than usual BUT we all loved it!!! Absolutely worth every penny!🙌🏻🙌🏻
Enjoy Spain & Portugal x
That sounds like such a great trip! And love to hear about the cash back 👏🏿👏🏻 thank you!
Love this channel. Way to go! ❤🎉
Thanks so much! 🙌🏿🙏🏻
Question: how do you stay on top of entering your expenses into your budget? I find it so tedious to add it all up, even in a spreadsheet. Is there a way to make it easier?
Good question - it can be tedious! I find that it's easiest to add to my spreadsheet throughout the month - I have two credit cards, so I'll open up the mobile app for each one, and type in the date / expense / amount of each transaction in little chunks, so it only take a few minutes each time.
Sometimes I'm less on top of it, but I always prioritize some time on the last day of the month to finish it off! I remind myself how good I'll feel at the end of the year if I actually stay on top of it which helps a little 😊
Hey - Suggestion for your travel if you don't do this already. I would see how you can leverage credit card points in order to book flight tickets through Aeroplan or other airlines. You will save hundreds of dollars and maybe even up-to $1000 per flight using points!! There's a ton of resources for Canadian credits cards and what provides the best value - I suggest the Prince of Travel videos for more info on this :).
Hey! Thanks for the suggestion - we’ll definitely talk about this in an upcoming video, as well 😊
Does the business invest as well or do you just keep extra money in a bank account for purchasing business assets/emergencies?
Can you provide second income options in Toronto for people with 9-5s?
I’ve never stayed in a hostel but I know a lot of people do because it’s cheaper than hotels. But I think when you’re traveling, treat yourself to a nice bed and a bathroom you don’t need to share with strangers. You’re away from home so you want to be comfortable. I don’t know - I think with travel, don’t skimp on stay, but there’s certainly no need to stay in luxurious 5-star hotels either!
Agreed! We're aiming for a comfortable spot to stay / a place that's safe to leave our stuff during the travel days, but not a full on luxury spot!
Also, another tip to make travel lower cost is to buy some food from the local markets (i.e. fruit, nuts, crackers, maybe cheese if you have a fridge in the air b and b) and eat breakfast at the hotel/air b and b instead of eating out! You can also do this for lunch too- pack snack items to bring with you as you travel around, and then splurge on a nice dinner :) Saving some money on food like this can add up quite a bit over the two weeks! But you still can enjoy the local food, as I know the markets in Spain and Portugal are great and filled with super fresh fruit, cheeses, nuts etc. Enjoy your trip!
Great suggestions - we're definitely going to try to do that when we can throughout the trip 😊
My biggest expenses have been taking my family to Disney and our upcoming cruise in September.
Sounds fun! Have a great time on the cruise in September 😊
Yes please share your cost breakdown for the trip. My wife and I also want to go there soon.
We definitely will! 😊
Ugh the bridesmaid bachelorette. I’ve spent over $30k on my friends bachelorette parties. (5 in total). I only go for my closest friends but it’s been very expensive weekends in Miami, Arizona, Vegas, Aspen etc. It’s the worst.
Hey Steph :) loved watching this catch up video! By investing, do you mean how you're still only investing in the Wealth Simple robo investing? And where did you end up opening your first fhsa?
As long as money isn't being wasted (ie. expensive vacations, dining out, cars) the key to financial freedom is increasing income. You have to do what it takes to increase your take home pay to get ahead.
Very true!
Do they not have Google Fi in Canada?
No, unfortunately their services aren’t available for us here
Very informative videos guys always got to keep track on finances 😂
Thank you! 😊
You're going to Portugal and I wasn't invited??? HOW RUDE. hahaha, enjoy!! I've heard Portugal is nice. I think that'll be the first European country I visit when I muster up the courage to even travel to Europe.
Ha! 😂 We'll definitely take you along on the channel!
What month are you coming to Portugal? Is still this year?
Later this year, yes 😊
@@stephandden I dont know what you were told but Portugal and Spain beetween later october and december is cold and rainy. Not Canada cold but still cold 🤣
That Nigeria trip looked fun.
It was Kenya! It was a lot of fun 😊
Marriage? Kids? Home? Short and sweet? Food and restaurants.
lol what?😂 don’t think they’re married, they don’t have kids, they aren’t home owners and they’re hardcore budgeters. the vid is abt their life not urs 😅
I am too victim of procrastinating changing my phone plan - I literally paused the video when you were talking about it and logged on and changed to a cheaper promo phone plan, took 5 mins! Thank you for the motivation!
Woo, we love hearing that! 👏🏿🙌🏻
Credit card sign up bonuses is a great way to fly cheaply
Biggest expense was maxing out my Roth IRA, and then it would be my trip to Japan and Korea. I think it was $4,000?
That sounds like a great mix! We hope that you had a great trip 😊
9k CAD is like $6k USD..that’s not that much for two people in 6+ months
That number is for me (Steph) only - not for two people 😊
How is your rent so low? 😢 That's my biggest expense. Is there a special location in Toronto where you live?😂 Cellphone plans are dogshit in Canada and super expensive but I got a decent one for $40 a month which serves my needs.
We’ve been living in the same spot for the past 5 years which has helped since it hasn’t gone up very much during that time! But we hear you, it really is hard to find an affordable spot!
Love that you found a $40 plan, that’s great 👏🏿👏🏻
Why is the bride not covering the bridesmaid dress or hair/makeup? Typically bride covers at least one or the other.
Everyone does things differently - I wouldn’t say that there’s one ‘typical’ way to do it 😊
There’s other things that are being covered by the bride!
@stephandden Those 2 are the biggest expenses for being a bridesmaid aside from hotel costs, but even guests will need to pay for accommodations if they're not local. Some brides even pay for their portion of the Bachelorette party. I guess you're getting the short end of the stick by needing to pay for so much.
Congrats on reducing cellphone bill.
I pay 26,05 tax included in Montréal. 3 GB and I have leftover. The secret is to use WiFi at home and at work. That leaves little time to use data. And not watching non educational video while communicating helps (cat videos).
Easy to save when you have no kids. Clocks ticking what are you waiting for
Ha 😂
Yes, and that’s the phase of life we’re in right now! All the more reason to be saving when it’s ‘easy’ to be saving 😊
Nah there is no clock anymore…a woman can wait til she is 51 with frozen embryos…so we don’t have to listen to comments like this from a holes like you any longer😂🎉❤
Wow! Are you one of the people always blaming it on the kids for not doing things in life ? Like seriously 😑
reach out to my friend Amin on Miles for tips on how to use your points for travel. it amazes me on what he can do