Hi! I’m Farrah Turcotte, millennial money coach and host of The Budget Bitch Podcast.
The Optimizer, prudent analyst. I definitely think the results are accurate! I am always trying to find ways to maximize every dollar I bring in so that I can live and experience life on my own terms. I make sure I give every dollar that comes in, a job. I am pretty detail-oriented, which has come in handy when I’ve noticed right away whenever something is off - such as a fraudulent credit charge. But there is definitely a fine line between passion and obsession over money! I think as someone who felt so out of control at one point, feeling in control has been really important to me.
I noticed during my experience researching anything and everything I could to learn about budgeting, paying debt off, investing, and setting yourself up for financial success - that there was a lack of Canadian women’s voices, and particularly the voices of children of immigrants like myself. I felt like a lot of content I would read at the time I had to go through multiple times to understand (not to mention many of it was American-centric) and I felt like there had to be a better way. No hate to our American friends, it would just suck when I would spend a bunch of time trying to decipher a Wall St jargon-filled definition only to realize it wasn’t applicable to me at all. I really wanted to make learning about personal finance accessible, less intimidating, and shame-free! I’m so glad to see that even just within the last year, more and more voices are entering this personal finance space.
Yes! I’m working on a few - both long term and short term. Short term, my fiancee and I are saving to have our wedding paid in full, in cash. The last thing I want is to go into any sort of debt for a one day party (albeit, a special one)! Before booking any vendors, we sat down and created a budget and list with vendors and what we would be willing to spend. Added it all up, divided it by the amount of months until our wedding and we have a number to put away each month until then!
I check almost every day! While I could easily leave it for longer, I do enjoy and find excitement in reviewing my budget and finances. It wasn’t always like this for me! I went from being someone who NEVER looked to the complete other end of the spectrum.
I promise there is a method to my madness! It works for me and I love it. I always want to encourage people to try different stacks, see what works and doesn’t work for you. As I always say, personal finance is not one size fits all!
I have 2 chequing accounts with Tangerine (one I share with my fiance and the other I use for business purposes).
High Interest/Yield Savings Accounts:
I have separate accounts open with EQ Bank each with their own designated purpose. Having them named so that every time I log in I can see exactly how much I have for exactly which purpose has been so helpful for me to stay organized and contribute regularly! This is where I house my emergency fund, car fund, travel fund, education fund, wedding fund, etc.
TFSA and RRSP with WealthSimple Trade
Cryptocurrency with Shakepay
TD First Class Travel Visa Infinite (LOVE IT)
TD Aeroplan Visa Infinite (I plan on downgrading this card before the first year is up! I wanted the free buddy pass, aeroplan points perks for signing up, and the first year is no annual fee.)
Tangerine Cash Back Mastercard (joint with my fiance)
Apps I love:
For creating my budget every month, I use good ol’ Google sheets! I do the same with all my coaching clients. Then once it’s been created I input it into Mint.
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