A Money Coach in Canada

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In my cri de coer last Tuesday I committed to picking up the slack in my own financial life.

I used to love investing. Stocks. Bonds. Dividends. p/e ratios. Yield. Acid tests (they’re not what you think). These are words more women need to know, love and own!

If you know my personal story (see vid on sidebar), part of the joy included building up my investments in tandem with getting out of debt and managing my day-to-day use of money.

But I’ve back-slidden.

Here’s what happened: When I started my biz, YMbD, I stopped investing in the market because I was investing in my business instead. Most of the time I worked part-time as well, and at least had a bit of work pension building up. For the past two years I’ve enjoyed building up an (ahem) public servant pension. And so I got lazy. It’s been too long since I’ve socked away money in a dead serious manner, nor have I been on top of the business world the way I believe I should be — and any woman, dare I say, should be.

I don’t feel good about this.

So I’ve made the first moves to get myself back in the investing saddle.

*** DISCLAIMER DISCLAIMER DISCLAIMER DISCLAIMER DISCLAIMER DISCLAIMER DISCLAIMER ***

I am not a financial planner. I am not a financial advisor. Do not take any of what I’m about to say as advice. I am simply an average-joe-ette who learned how to make her own investing decisions because I’m nerdy and a control freak on these things (and want to save the commissions) and I genuinely like reading financial pages and annual reports. I’m also fun at a party.

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So here’s what I’ve done.

1. I’ve re-joined a women’s investment club which I’d actually co-founded 10 years ago. I withdrew 5 years ago, but it’s still going strong and they kindly accepted me back in. This is fertile ground for intel about which businesses are up-and-coming (but not penny stocks! We look for at least a 5 year track record). We each pay $40/month, and come to monthly meetings prepared with research on various companies. We pool the funds, and once we have a chunk of change, we debate the various companies and select one in which to invest. The person who recommended the selected company then keeps us informed each month on how it’s been doing.

2. I’ve also rejigged my budget so that a chunk of my monthly salary will start going automatically into my self-directed RRSPs. Truth be told, I’m not confident these days about buying stocks. I’m way more jaded then I was pre-2008 now that we know the extent to which markets (us investors large and small) were duped by corrupt employees and CEOs. Beyond that, I’m not seeing much in the macro picture that gives me confidence my investments will pay off for me over the next 20 years. But … I’m not about to put my money under my mattress either. So, I’ll hunt and peck until I find some companies I like and think will perform, larger picture notwithstanding.

That’s it for now. I’m quietly excited. Skepticism notwithstanding, there’s a real thrill from investing in companies, and at least in the past, I had a kick-ass success rate that beat that pants off the vast majority of mutual fund returns. Anyone care to join me online Saturday mornings, lattes in hand, and share good business / economics articles for an hour or so?

About the Author


Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

2 Comments

  1. AMG

    I’ll happily join you. We have been too passive about our investments and are paying the price.

    [Reply]

    Nancy (aka Moneycoach) Reply:

    awesome! I’m thinking this Sat., 9am MST til about 10am. I’ll be at my computer exploring articles and have my FB chat open if you decide to join me online.

    [Reply]

    Nov 23, 2011

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