[Ep. 191] Women, Money & Financial Success with Robin Taub

Scotiabank Momentum Visa Infinite

This episode of the Mo’ Money Podcast is sponsored by the Scotiabank Momentum Visa Infinite card. Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).1 Plus, no annual fee in the first year.2 A welcome offer of up to $299.To learn more & sign up for the card, click here.

1You will earn 10% cash back (the “Offer”) on the first $2,000 in eligible purchases posted to your new Scotia Momentum® Visa Infinite* credit card account (the “Account”) beginning on the Account open date and ending 3 months after that date or when you reach the maximum cash back value of $200, whichever comes first (the “Offer End Date”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. After the Offer End Date, you will earn regular cash back on purchases at the regular cash back rate described in the Scotia Momentum Visa Infinite Cash Back Program (the “Program”) that applies to the Account (the “Cash Back Program Rate”).  The 10% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program); and (ii) a “Bonus Cash Back Rate”. Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:

1.Bonus Cash Back Rate: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 2- 3 months after the Offer End Date; and

2.Regular Cash Back Rate: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under your Program (November).

EXAMPLE: If the regular Cash Back Program Rate for the Gas Stations and Grocery Stores category is 4% then the Cash Back Bonus Rate will be 6% for that category so that you will earn a total of 10% on the amount of all eligible everyday purchases in that category until the Offer End Date. If you make $2,000 in eligible everyday purchases in the Gas Stations and Grocery Stores category, your cash back earnings will be credited to your Account as follows:

First, the Cash Back Bonus Rate of 6% x $2,000 = $120 will be credited to your Account within 2-3 months of the Offer End Date.

Secondly, the Cash Back Program Rate of 4% x $2,000 = $80 will be credited to your Account as per the regular cash back payment schedule (November).

The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.

All other terms of the Scotia Momentum® Visa Infinite* Cash Back Program Terms and Conditions apply. Offer applies to a new Account only opened by April 30, 2019.

Former or current Scotiabank credit cardholders of any kind in the past 2 years, including those that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account, are not eligible for this Offer.  All rates, fees, features and benefits are subject to change.

Offers may be changed, cancelled or extended and cannot be combined with any other offers.

2 We will waive the initial annual fee for the primary card and each additional supplementary card for the first year.  Offer applies to new Scotiabank credit card account (“Accounts”) only that are opened by April 30, 2019. Any additional supplementary cards must be issued by April 30, 2019 to qualify. Former or current Scotiabank credit cardholders of any kind in the past 2 years, including those that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account, are excluded from this offer.

The current annual fee is $99 for the primary card and $30 for each additional supplementary card.

The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions).  All rates, fees, features and benefits are subject to change. Offers may change, be extended and cannot be combined with any other offers.

3Based on a $99 annual fee waiver in the first year and a potential cash back earning of up to $200 during the offer period.

Robin Taub headshotIf you’re a long-time listener of the Mo’ Money Podcast, you’ll remember when I had Robin Taub on for episode 32 to talk about her book A Parent’s Guide to Raising Money Smart Kids.

Well, that was a few years ago now so I thought it was time to have her back on the show, but to talk about something very different. As I mentioned at the beginning of the show, we bumped into each other at Melissa Leong’s book launch for Happy Go Money and started talking about the different ways both genders think, talk and manage money. It’s a subject that Robin has been researching quite a bit lately, and one that I thought would make for a great conversation on the podcast since gender roles is a fairly hot topic right.

As humans, we all deal with money differently from one another. As the saying goes, personal finance is personal so there’s really no such thing as a one-size-fits-all financial solution. But, not only do we deal with money different as individuals, there’s a lot of research to indicate striking differences between how men and women handle money.

Here’s one of the studies that Robin mentions in the podcast by CPA Canada:

The impact of personality traits: a fresh look at gender differences in financial literacy

What much of the research shows is that women tend to be more risk averse or risk conscious, we struggle with financial confidence, and we tend to be better investors than men. We chat about all this and more in the episode, so enjoy!

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