This episode of the Mo’ Money Podcast is sponsored by the Manulife Vitality. Available on all CoverMe Health and Dental plans, the Manulife Vitality works so that the more engaged you are and the healthier choices you make, the more points you can earn towards earning Amazon gift cards, discounts at Hotels.com and savings on insurance premiums. To learn more, visit CoverMe.com or Manulife.ca/Vitality.
I met Sandy Yong, author of the soon-to-be released book The Money Master: Inside Secrets On How to Make Your Money Grow and Stay Safe, about a year ago at the 2018 Canadian Personal Finance Conference. She told me she was working on a book and I soon found out we had very similar personal finance journeys.
Having been brought up in a very frugal family, and having finished her business degree during the Great Recession, Sandy worked hard to pay off her student loan and make her way in the corporate world. She soon realized that being frugal was only one part of mastering your money. You also needed to set financial goals, invest wisely and have a clear action plan for all your hard-earned money.
That’s what led her to discover personal finance books which eventually inspired her to write her own book to reflect her journey and key things young Canadians should know about managing their money better.
In this interview, we touch on what some of those key things are, such as the benefits to passive investing instead of investing in high-fee actively-managed mutual funds, while also discussing some new players in the finance world like investing in the cannabis industry, cryptocurrency and robo-advisors.
Her book isn’t out yet, but you can pre-order your copy today. I’m also going to be giving away copies of her book when it’s out, so make sure to enter to win in my massive book giveaway!