It’s that time of year again. You know, the time to start thinking of getting your taxes done. Most people dread it, I love it (because I’m a weirdo), but as the saying goes taxes is one of the two certainties in life.
To give you a head start this tax season, and to help you change your mindset so you don’t hate it, I’ve got Lisa Zamparo (CPA & founder of The Wellth Company) back on the show. You probably remember her from episode 137 where she joined me to discuss how to be responsible with debt and credit.
Well, she’s back and is sharing some amazing tips on how to do some tax time prep like a pro! Also, as Lisa mentioned, if you want to get one of her tax season self-care kits, sign up to work with Lisa before February 21!
Tax prep is super easy, you just need to give yourself some time and know what to do. Here are 4 steps you can take to get prepared like never before!
Step 1 – Download my tax prep checklist.
Step 2 – Get some stationary, boxes and tools that are pleasing to the eye to get you excited.
Step 3 – Actively try to switch your mindset about tax time. Remember that by taking the time right now to make a system for tax time, you won’t have to do all this heavy lifting next year. Once you’ve got a system in place, it’ll be 10x easier next time!
Step 4 – Start preparing tax return. If you want to do it on your own, use online tax software like SimpleTax, UFile, TurboTax or H&R Block’s Online Tax Software. Make sure to Google for a promo code to save money. If you need some help with your taxes, hire a professional tax accountant to help you (like Lisa!).
Step 5 – If you’re self-employed, make things easier for next year by using some online accounting software like Freshbooks, Quickbooks or Wave.
Step 6 – After you’ve filed your taxes, if you get a tax refund, be smart about it! Don’t just spend it. Use it to pay down debt or invest for your future.
For full episode show notes, visit https://jessicamoorhouse.com/183
Since it’s launch week for Season 8 of the Mo’ Money Podcast, I’ve got a bonus episode for you!
Last season, CoPower sponsored my podcast. So, I thought it would be fun to bring on Trish Nixon, Managing Director & Head of Capital of CoPower, to discuss impact investing with me.
You may or may not have heard about impact investing before, but that could be because it goes by so many different names: socially responsible investing, green investing, sustainable investing, ethical investing (you get the picture). No matter what the name, what this episode is about is being a more mindful and conscious investor.
You see, with every dollar you invest you are saying you want the companies you’re investing in to become more profitable and successful. There’s nothing wrong with that…unless the companies you’re investing in aren’t actually very ethical or don’t align with your personal values. That’s why we need to be more aware of what companies are in our mutual funds or ETFs. We need to see if there’s something we don’t like, then do something about it.
One thing you can do is negative screening. It’s basically a way to take out the worst offenders in your portfolio, or find a portfolio that doesn’t include them. This is obviously easier if you’re a DIY investor because you have more control with what companies you invest in, but as you’ll see below there are a ton of big banks and robo-advisors that are offering more SRI portfolios now too.
To give you a better sense of what kind of socially responsible investments exist, here’s a quick list of model portfolios and investment products that are considered SRI.
For full episode show notes, visit https://jessicamoorhouse.com/182
Welcome to Season 8 of the Mo’ Money Podcast y’all! I know, I know…where have I been? For the past 3 years I’ve always started a new season of the show the first week of January. Well, to tell you the truth, I only had this episode recorded before I took off to Vancouver to enjoy Christmas with my family. In other words, I wasn’t ready! And I didn’t just want to put a season together quick, I wanted to make sure this season is one of my best yet! I believe it is, starting with having the amazing Melissa Leong on the show for my first episode.
You probably are already familiar with Melissa. She was my favourite financial journalist at the Financial Post for years, then transitioned into an entrepreneur herself as a speaker, host, TV personality on The Social and now personal finance author with her new book Happy Go Money.
This book has been a decade in the works because although Melissa shares some great advice and research in it, it is also very personal. What inspired this book was her husband’s depression that got her exploring the world of happiness.
I think it’s no surprise that we’re dealing with a major happiness problem today. So many of us (myself included) are dealing with depression, anxiety and feelings of failure and unfulfillment. But that doesn’t mean we should just throw our hands up and give in. We need to get our happy back! Especially when it comes to our money.
Here are some of my favourite gems from this episode.
One of my favourite parts of the podcast was when Melissa shares her tip for keeping accountable when trying to focus on the positive, instead of complain about the negative. I find I get especially down during the winter months, so I’m going to practice this whenever I, or my husband, catch myself complaining for no real reason.
How does it work? If you find yourself or someone you know focusing on the negative, say “Give me 3!” and share 3 good things about your life, your day, or whatever you want!
Focusing on the positive takes practice, so start practicing with me today!
I find this a lot with people who I deem “negative”. You know who I mean. Those people that no matter what, everything is always the worst and nothing is ever their fault. Life just happens to them, and they sure are unlucky. Umm…no! The only way to change your life for the better is to stop acting like a victim. You need to take control of your life, your circumstances and your future. The only way to do that is to stop being a victim, take responsibility, and then take action!
This is 100% true, and not just because it’s a claim backed by research. I know so many people who swear that meditation has been the fix they’ve been looking for. I myself have even experimented with it, and when I do it regularly, I do find myself so much more happy with my present.
There are some great apps you can use to get started too like Calm and Headspace, or you can simply practice on your own. But try it out and see if you start to feel a change.
If you want to continue learning about happiness, money or both, here are some book recommendations mentioned in this episode:
For full episode show notes, visit https://jessicamoorhouse.com/181