The Personal Finance Show

The Personal Finance Show is a place for people to tell their personal finance stories. Everyone has a personal finance story.

42 - Ian Clarke

July 26th, 2018
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Ian Clarke was the Chief Financial Officer (CFO) of Maple Leaf Sports and Entertainment (MLSE) for 26.5 years and as of 2017 is the current CFO of the Greater Toronto Airports Authority (GTAA).

As a CFO, he manages the finances of corporations, but is corporate finance really that different from personal finance?

As it turns out, they are pretty much the same except for the human emotions that are involved in personal finance.

Emotional spending and emotional investing can lead a rational person to spend money they don’t have or gamble money they can’t afford to lose.

But often the way out of a bad financial situation is to put the emotions aside and treat our personal finances like a business.

In a business, you are accountable for your financial actions, as you should be in your personal life.

But what happens instead is that you might decide you want to buy something, before you calculate whether you can afford it. It is this kind of behaviour, encouraged and promoted by the credit card companies, that leads people into real financial trouble.

So have a listen to Ian’s personal finance story, and his experience as a CFO, and hopefully you will see the value in his rational approach to money management, and life in general.

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43 - Leanna Haakons

41 - Brian Daley

July 19th, 2018
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Did you know that it can cost $30,000 to hire someone in the tech industry?

Let’s say you have a company and you want to hire a data scientist or mobile developer. Maybe you’ll pay them a $100,000 salary. Tech recruitment companies could charge you 30% of that first year’s salary to find you the right person.

Why would you pay this much to hire someone? Well, hiring is complicated.

You want to find the right person, but you might not have the network or the resources to do that. You don’t want to waste your time and end up having to settle for whoever’s available, so that’s why recruiters exist. They’re specialists.

Plus, the best people are going to go to the Googles and Microsofts of the world and if you are a small company, they might not even know you exist.

But there’s gotta be a better way than spending $30,000 to hire someone, right?

That’s what Brian Daley thought when he started his new company SmartRefer, which is the first open-source employee referral platform to leverage blockchain technology.

Brian didn’t start out in the recruiting business, or the tech business, but he always had this philosophy of keeping his options open, and constantly building skills and relationships.

Let’s hear Brian’s personal finance story and how his personal philosophy has led him to where he is today.

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42 - Ian Clarke

40 - Mark Rivard

July 13th, 2018
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What does a book about quitting smoking have to do with your personal finances?

That’s what I asked my friend Mark Rivard when he told me about his personal finance story.

I know you’re thinking, if you quit smoking, then you save money. Sure that’s part of it, but the money saved on cigarettes is not going to make a huge dent in $20,000 of credit card and student loan debt.

When Mark told me his story, I knew that other people needed to hear it.

You see Mark got a bit too comfortable living off the generosity of others.

We all go through periods like this in our lives. Maybe we’re just figuring things out and a friend or family member helps us get through the low income, or financially difficult times of our life.

But how do you learn to take care of yourself financially, when you’re so used to relying on handouts?

Where does the motivation come from to make a change?

Just because people keep offering you help, doesn’t mean that you should take it.

And this advice also extends to the “help” that credit cards offer you in times of need. Credit cards can often seem like a great tool to fund the life that you want. But they come at a huge cost, which you might not realize until you’re swimming in debt. At that’s the point when you might really need help, but you already used up all of your handouts. What do you do in this situation?

I’m so glad that Mark decided to open up and tell his story. It’s important to hear and I hope that hearing it helps you or someone you know make a positive change.

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If you liked this episode please subscribe to the podcast on Apple Podcasts or wherever you get your podcasts. It would mean a lot to me and it only takes a few seconds.

Thanks so much for listening to this episode of The Personal Finance Show.

Next week, my guest will be Brian Daley, Co-Founder and CEO of a company called SmartRefer.

39 - Tyler Sheff

July 6th, 2018
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Tyler Sheff doesn’t believe that real estate is a “get rich quick” investment. His team understands the value of the old saying that “slow and steady wins the race”.

Many people look to real estate as a way to make some quick money, or guaranteed returns.  But it’s way more complicated than that and if you don’t understand what you’re getting into, you can easily lose your shirt, and more, by getting into real estate with a lack of financial intelligence.

Tyler started Cashflow Guys because he knows how challenging it can be to deal with all the pieces of the puzzle.  Tyler is so serious about making sure that you are a good fit with his program that he doesn’t just take anyone as a client.  There are some people that just don’t have the right mindset to get into real estate right now. And if Tyler notices that, he tells them to keep their money and sends them packing.

This isn’t about Tyler making money while others lose money.  His whole business is about connecting the right people and ensuring that everyone involved is successful.

But Tyler didn’t get into real estate until later in life.  Let’s start at the beginning - to a small town called Hamburg, New York.

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NEXT EPISODE

If you liked this episode please subscribe to the podcast on Apple Podcasts or wherever you get your podcasts.  It would mean a lot to me and it only takes a few seconds.

Thanks so much for listening to this episode of The Personal Finance Show.

Next week, my guest will be a good friend of mine, Mark Rivard  He has a great personal finance story and I’m excited for you to hear it.