For years, the strategy for creating wealth was fairly simple. All you had to do was go to college, get a job, buy a home, and retire with a pension. However, due to factors like stagnant wages and skyrocketing home prices, this strategy hasn’t quite worked for millennials. To compensate, millennials have had to find new creative ways to make ends meet while still enjoying their lives. To share their new wealth-building strategies, many millennials have started financially-focused blogs. With that in mind, let’s take a look at the 10 best Canadian millennial money blogs.
At Millennial Revolution, FIRECracker and Wanderer share how they were able to retire in their early 30s. “FIRECracker” and “Wanderer” are the pseudonyms of two engineers that achieved an early retirement by living frugally, saving, and investing. If you are new to personal finance, this type of mentality is known as FIRE (Financial Independence Retire Early). The authors of Millennial Revolution achieved FIRE by building a 7-figure investment portfolio. Now, they live off small withdrawals and dividends from this portfolio.
Money After Graduation
Money After Graduation is a Canadian millennial money blog that focuses on eight different topics. These topics are reviews of popular financial tools, saving, investing, budgeting, debt, earning, life, and news. In their own words, they want to help their readers pay off debt, save money, increase their income, and invest in the stock market. If you are interested in any of these topics then Money After Graduation is definitely worth reading. Or, if you prefer other mediums instead of a blog then you can check them out on Facebook, Twitter, TikTok, YouTube, and Instagram.
Young And Thrifty
Kyle Prevost and Justin Bouchard started Young And Thrifty as a way to improve financial literacy among their peers. The two founders have since left the Canadian blog and have been replaced by a “posse of personal finance experts”. This new team writes about personal finance on a weekly basis. They cover everything from budgeting to investing to credit card reviews.
My Life I Guess
On My Life, I Guess the author, Amanda Kay, shares her own personal finance experiences and mistakes. Amanda claims that she has made tons of mistakes when it comes to her finances and career. But, she has always been able to overcome them. By sharing her stories, she wants to help you avoid making the same mistakes that she did. A few of her “mistakes” include wracking up $53,000 in debt, working 11 different jobs in 10 years, and building $25,000 worth of credit card debt while living paycheque-to-paycheque. But, one of her wins is using her experience hunting for jobs to actually land a job as an employment specialist. If you like hearing other people’s stories then you’ll love My Life, I Guess.
The Outlier Model
Jenny Smedra and Maria Rodriguez are the two voices behind The Outlier Model. This Canadian millenial money blog was started in 2007 and is now a part of District Media Group. Its objective is to deliver personal finance news and advice that informs, empowers, and educates its readers. One of the best parts of The Outlier Model is its “Money Toolkit” section. This section outlines tons of resources that you can use to improve your financial health. These resources include things like personal finance forums, ways to check your credit, and money management tools.
The main philosophy behind Half Banked is that you only need to master four key skills to take control of your personal finances. These skills are spending, budgeting, saving, and investing. As long as you have these under control then you will be in good financial shape. Unsurprisingly, almost all of the content on their site revolves around these 4 pillars. In this sense, they do a great job of making personal finance seem incredibly easy to grasp. On top of that, this blog has a section for “Resources” which outlines exactly what tools the author uses to manage their money.
Jessica Moorhouse’s Blog
Jessica Moorhouse is an accredited financial counsellor as well as the voice behind the More Money Podcast and Millennial Money Meetup. She describes herself as the “go-to millennial money expert in Canada”. To back this up, she has earned a handful of certifications, dozens of media mentions, and a spot on CTV News’ Mind the Gap panel. In addition to her blog, Jessica is very active on YouTube and on her podcast. In particular, her podcast has 14 seasons and over 300 episodes.
As the name implies, Teen Learner’s main focus is helping teenagers learn the financial basics for a successful future. The author believes that there is no better time to hone your financial skills than when you are a teenager. By learning financial skills when you are younger, you can prevent yourself from making costly mistakes as an adult. This blog mainly focuses on four main pillars of personal finance: earn, save, spend, and learn.
Bay Street Blog
Bay Street Blog is a Canadian millennial money blog that covers a range of different topics. Under its personal finance section, you can learn about the basic pillars of personal finance such as debt, mortgages, taxes, and career advice. In addition to these topics, the Bay Street Blog has a huge focus on investing. For example, it has entire sections dedicated to real estate, DIY investing, and robo advisors. The DIY Investing section focuses on things like forex, exchange traded funds (ETFs), stocks, mutual funds, tax-free savings accounts (TFSAs), and more. If you are particularly interested in investing your money then the Bay Street Blog is a great place to start.
Kerry Taylor is a financial journalist, author, money influencer, and speaker. She is also the founder of Squawkfox. Squawkfox is a millennial money blog that shares articles designed to increase your health, wealth, and happiness. One of Kerry’s mottos is “don’t aim for perfection, aim to get started”. This advice applies particularly well to the personal finance space. You can’t expect your financial situation to become perfect overnight. The best that you can do is get started and begin making forward progress.