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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!
Accounts:
Chequing Accounts:
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.
Investments/Cryptocurrency:
TFSA and RRSP with WealthSimple Trade
Cryptocurrency with Shakepay
Credit:
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:
Mint
Walletifai
Wealthica
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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