![Steph & Den](/img/default-banner.jpg)
- 384
- 23 731 376
Steph & Den
Canada
Приєднався 25 лис 2018
We make money simple.
Hey, what's good! We're Steph & Den, and we started as young professionals working in the corporate world, then left to start something new - and we've been documenting our financial journey's along the way (from being in debt, to saving and investing). If you see us around Toronto, say hi!
We post new UA-cam videos every Sunday at 12:00pm EST.
And if you're looking for more, check us out here:
Instagram: @stephandden (215k)
TikTok: @stephandden (315k)
Hey, what's good! We're Steph & Den, and we started as young professionals working in the corporate world, then left to start something new - and we've been documenting our financial journey's along the way (from being in debt, to saving and investing). If you see us around Toronto, say hi!
We post new UA-cam videos every Sunday at 12:00pm EST.
And if you're looking for more, check us out here:
Instagram: @stephandden (215k)
TikTok: @stephandden (315k)
Newcomer In Canada? What You Need To Know About Money, Explained
If you clicked on this video, you're probably a newcomer to Canada, who wants to know what you should know from a money perspective in order to get ahead (or at least get on track) and have a successful future. Well, you're in the right place!
We're going to cover the beginner friendly, foundational information that you need to know in order to get a full overview of how the North American financial system works, inlcuding the banking system, the credit system, the tax system, and starting to invest your money.
If you have any other questions, make sure you ask away in the comments below!
0:00 Everything You Need To Know About Money
1:51 How The Banking System Works In Canada
4:15 Selecting A Bank (+ Is Your Money Safe?)
7:30 How The Credit System Works In Canada
11:15 How A Credit Card Works
14:58 How A Credit Score Works
19:05 How The Tax System Works In Canada
22:39 How To Invest Money In Canada
25:35 How To Get Ahead With Your Money In Canada
28:49 Make Sure You Avoid Financial Scams!
➡️ Simplii Financial - Our No Fee Chequing Account (up to $400 bonus) - api.fintelconnect.com/t/l/65ad4fc7581176001cb7f1b2
➡️ EQ Bank - Our High Interest Savings Account - click.linksynergy.com/fs-bin/click?id=Xoa5MXyunCM&offerid=1115263.19&bids=1115263.19&type=3&subid=0
➡️ Wealthsimple Invest - Our Robo-Advisor Investment Platform ($25 bonus) - wealthsimple.sjv.io/vnkndW
➡️ Wealthsimple Trade - Our Favourite Stock Trading Platform ($25 bonus) - wealthsimple.sjv.io/yRARNB
➡️ American Express Cobalt - Our Travel Rewards Credit Card (up to 22,000 points) - www.americanexpress.com/en-ca/credit-cards/referral/prospect/card/intl/cobalt?ref=sTEPHGtKkv&XL=MIANS
➡️ Neo Financial - Our Cash Back Credit Card - neo.cc/refer/N8U6K3S9
➡️ Questrade - Low Fee Investment Platform Canada ($50 in commission free trades) - questrade.sjv.io/AWa9jo
➡️ Borrowell - Free Credit Score Check - api.fintelconnect.com/t/l/612d3fe6cb45d3001d5ece04
The links above are affiliate and/or referral links that provide us compensation when you use them to sign up. Thank you for supporting our channel!
Website - stephandden.com
Instagram - @stephandden
TikTok - @stephandden
➡️ UA-cam Filming Equipment - amzn.to/3HrWA4i
➡️ UA-cam Editing Equipment - amzn.to/3RXBsri
The links above are affiliate links - Steph & Den are Amazon Associates and we earn from qualifying purchases.
Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
We're going to cover the beginner friendly, foundational information that you need to know in order to get a full overview of how the North American financial system works, inlcuding the banking system, the credit system, the tax system, and starting to invest your money.
If you have any other questions, make sure you ask away in the comments below!
0:00 Everything You Need To Know About Money
1:51 How The Banking System Works In Canada
4:15 Selecting A Bank (+ Is Your Money Safe?)
7:30 How The Credit System Works In Canada
11:15 How A Credit Card Works
14:58 How A Credit Score Works
19:05 How The Tax System Works In Canada
22:39 How To Invest Money In Canada
25:35 How To Get Ahead With Your Money In Canada
28:49 Make Sure You Avoid Financial Scams!
➡️ Simplii Financial - Our No Fee Chequing Account (up to $400 bonus) - api.fintelconnect.com/t/l/65ad4fc7581176001cb7f1b2
➡️ EQ Bank - Our High Interest Savings Account - click.linksynergy.com/fs-bin/click?id=Xoa5MXyunCM&offerid=1115263.19&bids=1115263.19&type=3&subid=0
➡️ Wealthsimple Invest - Our Robo-Advisor Investment Platform ($25 bonus) - wealthsimple.sjv.io/vnkndW
➡️ Wealthsimple Trade - Our Favourite Stock Trading Platform ($25 bonus) - wealthsimple.sjv.io/yRARNB
➡️ American Express Cobalt - Our Travel Rewards Credit Card (up to 22,000 points) - www.americanexpress.com/en-ca/credit-cards/referral/prospect/card/intl/cobalt?ref=sTEPHGtKkv&XL=MIANS
➡️ Neo Financial - Our Cash Back Credit Card - neo.cc/refer/N8U6K3S9
➡️ Questrade - Low Fee Investment Platform Canada ($50 in commission free trades) - questrade.sjv.io/AWa9jo
➡️ Borrowell - Free Credit Score Check - api.fintelconnect.com/t/l/612d3fe6cb45d3001d5ece04
The links above are affiliate and/or referral links that provide us compensation when you use them to sign up. Thank you for supporting our channel!
Website - stephandden.com
Instagram - @stephandden
TikTok - @stephandden
➡️ UA-cam Filming Equipment - amzn.to/3HrWA4i
➡️ UA-cam Editing Equipment - amzn.to/3RXBsri
The links above are affiliate links - Steph & Den are Amazon Associates and we earn from qualifying purchases.
Disclaimer - This content is for education and entertainment purposes only. Steph & Den do not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
Переглядів: 5 085
Відео
I'm Opening A Wealthsimple Trade Account (Switching From Questrade To Wealthsimple)
Переглядів 12 тис.21 день тому
For the past 3 years, I've been using Questrade to invest. I'm a DIY investor who invests solely in ETFs, and the platform has suited my needs well, but... I'm switching things up. I've been thinking about switching to Wealthsimple for a while now, mostly because I prefer the interface, and especially with the changes that I've seen being made to the app over the past few years. In this video, ...
Life Insurance, Explained - Term Life Insurance vs Whole Life Insurance
Переглядів 9 тис.Місяць тому
If you're reading this, you've probably heard of life insurance before, and, there's a lot of different types of, and words to describe, life insurance. We're talking 'term', 'whole life', ‘universal life’, ‘variable life’, ‘infinite banking’, ‘be your own bank’... the list goes on. In this video, we want to make life insurance as simple as possible, explain who actually needs life insurance, w...
American Express Cobalt - The Best Credit Card Option (AMEX Cobalt)
Переглядів 31 тис.Місяць тому
We recently signed up for a new credit card - the American Express Cobalt - to use as our new daily spending card. We did a lot of research before landing on this option, and in this video we'll break down why we chose the AMEX Cobalt card, how many points we expect to receive (and what we plan to use them on), and how this credit card will fit into our current credit card line up (spoiler: we ...
How Much Money I've Spent On Food In 2024 (No Spend Challenge Update)
Переглядів 7 тис.Місяць тому
How Much Money I've Spent On Food In 2024 (No Spend Challenge Update)
Why I Sold All Of My Stocks (I Only Invest In ETFs)
Переглядів 19 тис.Місяць тому
Why I Sold All Of My Stocks (I Only Invest In ETFs)
TFSA vs RRSP vs FHSA - Where Should You Invest Money To Buy A House?
Переглядів 8 тис.2 місяці тому
TFSA vs RRSP vs FHSA - Where Should You Invest Money To Buy A House?
The Bank Account Set Up I've Used to Save $100,000 - Chequing, Saving & Investment Account Breakdown
Переглядів 27 тис.2 місяці тому
The Bank Account Set Up I've Used to Save $100,000 - Chequing, Saving & Investment Account Breakdown
I Opened An FHSA! My First Home Savings Account Investment Strategy
Переглядів 12 тис.2 місяці тому
I Opened An FHSA! My First Home Savings Account Investment Strategy
How Much Money We've Saved and Spent in 2024 (so far!)
Переглядів 12 тис.2 місяці тому
How Much Money We've Saved and Spent in 2024 (so far!)
ETFs, Explained - What Are Exchange Traded Funds? What ETFs Should You Buy?
Переглядів 8 тис.3 місяці тому
ETFs, Explained - What Are Exchange Traded Funds? What ETFs Should You Buy?
How Much Money I've Saved, Invested & Total Debt at 28 Years Old
Переглядів 22 тис.3 місяці тому
How Much Money I've Saved, Invested & Total Debt at 28 Years Old
Best High Interest Savings Accounts In Canada 2024 - Interest Rates Are UP!
Переглядів 38 тис.3 місяці тому
Best High Interest Savings Accounts In Canada 2024 - Interest Rates Are UP!
How I've Saved Over $100,000 By Age 27 - When Will I Hit $1 Million?
Переглядів 66 тис.3 місяці тому
How I've Saved Over $100,000 By Age 27 - When Will I Hit $1 Million?
Investment Portfolio Results After Two Years - The Only Fund I've Invested $37,000 In
Переглядів 20 тис.4 місяці тому
Investment Portfolio Results After Two Years - The Only Fund I've Invested $37,000 In
4 Things I’m Buying In 2024 - I’m Saving Money To Buy THIS
Переглядів 10 тис.4 місяці тому
4 Things I’m Buying In 2024 - I’m Saving Money To Buy THIS
I Maxed Out My TFSA! Now What? (Tax Free Savings Account)
Переглядів 22 тис.4 місяці тому
I Maxed Out My TFSA! Now What? (Tax Free Savings Account)
We're Buying Our First Rental Property
Переглядів 15 тис.4 місяці тому
We're Buying Our First Rental Property
How To Budget For The First Time - Set Up My Budget With Me
Переглядів 11 тис.4 місяці тому
How To Budget For The First Time - Set Up My Budget With Me
Taxable Accounts, Explained - How To Invest Using a Non-Registered Investment Account
Переглядів 13 тис.4 місяці тому
Taxable Accounts, Explained - How To Invest Using a Non-Registered Investment Account
Best No Fee Chequing Accounts In Canada 2024 - Say Bye To High Fees!
Переглядів 16 тис.5 місяців тому
Best No Fee Chequing Accounts In Canada 2024 - Say Bye To High Fees!
Wealthsimple Invest Portfolio Results After 3 Years (+ I'm Switching To Wealthsimple Trade!)
Переглядів 65 тис.5 місяців тому
Wealthsimple Invest Portfolio Results After 3 Years ( I'm Switching To Wealthsimple Trade!)
My 2024 Money Goals + How I'll Achieve Them
Переглядів 14 тис.5 місяців тому
My 2024 Money Goals How I'll Achieve Them
How I'm Able To Save 52% Of My Income In 2024 - My New Savings Goal & Investment Strategy
Переглядів 41 тис.5 місяців тому
How I'm Able To Save 52% Of My Income In 2024 - My New Savings Goal & Investment Strategy
How Much Money We Made, Saved and Invested in 2023
Переглядів 40 тис.6 місяців тому
How Much Money We Made, Saved and Invested in 2023
Joint Accounts, Explained - When Should Couples Share Bank Accounts?
Переглядів 13 тис.6 місяців тому
Joint Accounts, Explained - When Should Couples Share Bank Accounts?
How Much Money We Spent This Year - Annual Budget Wrap Up
Переглядів 13 тис.6 місяців тому
How Much Money We Spent This Year - Annual Budget Wrap Up
How To Choose A Travel Credit Card (This Is What We Use)
Переглядів 9 тис.6 місяців тому
How To Choose A Travel Credit Card (This Is What We Use)
You Need To Start Your Retirement Plan NOW
Переглядів 6 тис.7 місяців тому
You Need To Start Your Retirement Plan NOW
Should you move in together to save money?
Переглядів 7 тис.7 місяців тому
Should you move in together to save money?
Find yourself a good man get married and have lots of kids and take care of your family anything outside of that you’re wasting your time
And what did u pay in gas cause ya left that out?
$109!
How is your 1 bedroom apartment only $1900? I’m paying $2800 ..
Hope you enjoyed your stay in Ottawa 😊 I regularly do these trips in the other direction. The onroutes are nothing special for food but i would give them way more than a 0/10 because for the same reason you probably stopped there, they are so convenient. Just having bathrooms on the 401 is a blessing. Though if theres time for a real roadtrip i enioy going of the highway and driving through the towns.
Would like to see an average monthly break down including some of the once every year expenses. Really appreciate the breakdown. Nice video.
Thank you! I do these videos every month, so you can see how this compares to the other months so far this year 😊 (plus we do long UA-cam videos breaking down our average spending per quarter)
What do you do for work?
I’m a full-time personal finance content creator 😊
@@stephandden damn that social media/content creation does well! Toronto is not cheap! That’s awesome !👏
Smart girl, good for you, getting wealthy takes some time but your on the right track. 2022 was brutal on everyone, it happens. Best of luck!
Downtown!? You earn atleast 6 figures!
My salary is $70,000 - take home pay is $4,459/month 😊
@@stephandden you are splitting things you mentioned. Combined with your spouse, you guys have to be in 6 figures..........
My rent / internet and utilities are split, yes! We make the exact same salary 😊
@@stephandden yeah 150k sounds about right.
Budget
Here’s the link 😊 - stephandden.com/free-budget-template/
Best Canadian Financial content creators! Thanks guys, you are the reason I started investing & having a portfolio of $40K now ❤
Thank you so much! + that's AMAZING, we're so happy to hear that! 🙏🏿🙌🏻
Curious if they upcharged you because you werent from the same culture
Is Hubris your middle name?
It is! 😊
Not to be weird, but I think we go to the same doctor clinic 😂
can’t wait to leave this city!
Sorry, I'm busy that day, but I hope you both have a lovely day. 🎉
You went all the way to woodbrigde to eat at BBQ joint?😅
Ha! We were in the area for a wedding 😂 it is so far away!
What job do you do that you have 2000 away a month
We’re personal finance content creators full time 😊
$18 for a month of transportation?
I walk or take public transit (pre-loaded card) most of the time 😊
Memphis is THE BEST
🥳
Budget!
Here’s the link 😊 - stephandden.com/free-budget-template/
Always stick it out and get a package out of them. Happened to me once. The boss ans my personality clashed. Nothing to do with work or competency. I had a great reputation and she knew as well how good I was. She tried to do this nonsense. I documented and did tasks that could get done within the time frame. The rest I told HR were given last min. Obviously HR is involved with them. They knew I was not going to quit so gave up and gave a nice long package..Went on a nice trip and got some time off. Came back to another job waiting..
Where do you live for 950??? That too in downtown Toronto????
$950 is my half, and we’ve been in the unit for 6 years (it’s rent controlled) 😊
I envy $140 on restaurant for the whole month 😅. We spend this much 1 night out with 2 kids
It can definitely add up quickly with kids 😅
First scene looks like New York!
👀
I also live in Toronto and earn 3000 a month😢
Great content guys!
Thank you so much! 😊
I moved to the Usa at 28. Young Americans are lucky to live in the Usa without realizing it. In Italy and many countries, many people graduate from college at 26-28 and then find a job and if they are lucky they get 1300 euro salary per month (pretty much like $1500 per month, yes it’s not a mistake, not per week, 1500 per month!). How can you save 100k? Maybe 100 euro. Good thing is universities are not expensive and none has a student loan debt after graduating. College is all paid for when you graduate.
Quite quitting is not new in my day it was called doing a bare minimum
Could you guys do a video on the best way to save for children’s future. For school savings or just helping them get a head in life. Thanks
We have a video that breaks down the RESP - check that one out. 😊 But we’ll definitely add a more in depth video on children’s futures to our list.
Never forget she's got a roommate and its stilll 4k+ lol.
What’s $4k+?
So simple and great advice as usual! For cars there are also tires to change/store twice a year 🥲
Thank you so much 😊 And great point - there are so many ‘small’ car expenses that add up!
Budget
Here’s the link 😊 - stephandden.com/free-budget-template/
Somewhat annoyingly, my bank doesn't offer a high yield savings option, but my checking account is high yield. I feel like I should get a high yield savings elsewhere.
That’s too bad - which bank are you with? And yes, you should definitely check out other options. We have a video on all of the best high interest saving accounts available. 😊
@@stephandden I'm with a local credit union here in Michigan. I will look at your video for recommendations, thank you 😁
Should I do this over the phone or email? I receive an offer but wasn’t sure if I should schedule a call or via email.
QT has bad customer service too
Great information! Useful for young Canadians of all stripes and colours. Pretty sure I'm going to make my 18 year old son watch this video.
Amazing - we love to hear that! 😊
What an insightful video. Thank you for sharing My Question: with respect to credit utilisation, is it okay to spend over the 30% during your billing cycle as long as you bring the balance back down to 30 or below before your statement prints Do credit card companies report your account activities to credit bureau or just your statement balance at the end of the cycle
We’re glad it was helpful. 😊 And yes, you can spend over 30%, but you don’t want to carry that balance throughout the month or into the next month. It’s best practice to make multiple payments throughout your billing cycle so that you can reduce the balance that gets reported. Also, credit companies report your payments based on your billing cycle - the details of what you purchased doesn’t matter. What matters is whether you made the full payment after all of your spending. The total amount (so how much you owe) for each billing cycle is what the credit bureau cares about.
I'm based in the US and I'm not even Canadian, but I must say you guys did a great job on explaining basic financial literacy to newcomers 👏🏽
Thank you so much! 🙏🏿🙌🏻
How many back and forth should negotiations take?
Coming next month, grateful for this video ✨🙌
Amazing to hear 😊 we hope that the move goes well!
I wish this video was available when I immigrated. You guys are doing and awesome job... keep up the good work Steph & Den
Thank you so much 😊
Budget
Here's the link! 😊 stephandden.com/free-budget-template/
I have a question about buying stock on wealthsimple. Since they don't have margin accounts, could you purchase a stock with a limit order and direct the money to come from your cash savings account. Or is there an alternative way to keep earning interest within the non-registered cash account with your cash until it's needed to fund a stock purchase with a limit order.
Can I get the budget tracker too thank you
Yes! Here's the link - stephandden.com/free-budget-template/
Is it possible for a newcomer to open an investment account ?
Yes! For example, you can open up a TFSA as long as you’re 18 years old, have a valid SIN and are a resident of Canada. 😊 You can also open up a taxable account regardless of your status, but you’ll have to pay taxes on your investments. We have a playlist with all of the accounts available - check it out.
Thank you for this information that’s never talked about for newcomers. Grateful 🙌🏾
Of course! 🙏🏿🙌🏻
Your utilities are mad cheap!! But I can get Fairlife milk at Walmart for $4.50!!! $5.50 at Safeway!! $7.09 would mean back to regular 2%… or no milk!!
It was so expensive - I didn’t end up buying it there!
@@stephandden by the way I’m in Tucson Arizona!!!
Thank you for doing this! I'm coming to canada next year
Of course! We hope this was helpful 😊
I love this video!!! Thank you so much for creating this.
Yay, we’re happy to hear that! Thank you for watching 😊
You guys always have Great informational tips 🔥❤️🔥
Thank you so much! 🙏🏿🙌🏻