How to Save Smart!

Considering Vancouver is consistently ranked as the world’s most expensive city, Vancouverites could benefit from being a bit closer with their personal finances. If you missed Forward Finance, our event last Tuesday co-hosted with YWiB Vancouver sponsor, Tangerine Bank, you're in luck because we took notes! Nicole Wells, VP at Tangerine Bank, dished out very helpful tips for saving smart and what you need to consider when budgeting for a home.

 

Take stock of your debt and savings

If you have debt, do you have a strategy to pay it off? When you're in debt, it's intimidating to even think about how to handle it, but a strategy can be as simple as deciding how much money per month you can comfortably put towards paying it down, and calculating how many months it will take to zero it out. Then make sure to do it. All it takes is a recurring monthly transfer from your chequing account, and you can set that up easily online with most banks.

Are you contributing monthly to a savings or investment account? Hate to burst your bubble (no Vancouver housing market joke intended), but you need to be saving a reasonable chunk of change if you want to be down-payment ready! Whether you pay off all your debt before starting to save is up to you, but take a look at what you're paying in interest. Lots of times it will make sense to pay the debt off first.

TIP:It’s okay to save money and pay your debt down simultaneously. No one says you have to pay all your debt off first.

 

Identify small sacrifices from your living expenses

Want to boost your monthly savings? Consider everything you purchase on a daily basis. Which items are frivolous and when do you pull out your wallet even without thinking? If owning your own property (or buying a car or whatever your longer term >3-5+ year goal) is worth more than your morning breakfast, then ditch the nonfat, sugar-free vanilla lattes or breakfast croissants. Nicole also gave us an excellent piece of advice: “small sacrifices” are the key to stick to your savings plan. Saving can be like being on a diet: go cold turkey on something you truly love, and you’re likely to fail. So, if caffeine is something you literally can’t be without and a coffeemaker is foreign to you, taper back to 2-3 days per week or pick something that won't hurt so much.

 

TFSA vs RRSP

These are two “programs” with different rules. The money you put into a Tax-Free Savings Account is taxed today; you don't pay tax on it later on when you withdraw the funds. Money you put into an RRSP is not taxed today; the tax is deferred, meaning it's paid when the funds are withdrawn.

Which is best? It has to do with the tax bracket you’re in now the one you expect to be in when you take your money out. This means you need to think... When are you planning to purchase your home? If you’re in at a higher tax bracket today than you expect to be when you withdraw, an RRSP is your best bet. You will defer the tax payment until later and it will be taxed at your lower rate.

 

Time to buy!

Before you start looking at properties, know exactly what you can afford on a monthly basis and draw a big, fat, black line right there. Do not forget to include those one-time costs associated with: legal fees, home insurance, moving costs, and all other expenses associated with buying a home. These add up in a hurry, and they’re not insignificant.

Another reason not to stretch your wallet has to do with mortgage payments. A 5-year fixed rate mortgage is typical…but what happens after those 5 years? Interest rates go up and down, and once your 5-years is up, your mortgage is now subject to change. Unlucky for you if interest rates are higher than they once were. It can add a considerable amount to your monthly payment, and if you only squeezed by during the last 5-years, you can imagine how tough it will be. Tangerine recommends setting aside about 3 weeks equivalent of your salary for time when making payments is tight. TIP: A healthy monthly mortgage payment is roughly 20-25% of your monthly income.

When possible, take advantage of prepayment options. It can amount to saving tens of thousands of dollars over the life of your mortgage!

 

A huge thank-you to Nicole Wells and everyone from Tangerine Bank!

------------ DISCLAIMER: The above information is not intended for nor constitutes investment, financial, tax or legal advice from either Young Women in Business or Tangerine Bank, and should not relied upon for those or any other purposes. Finances are personal and everyone's circumstances, needs, and goals are different. Consult a financial advisor before making investments.

Inhale Confidence, Exhale Doubt.

We all aspire to become that version of ourselves who is at ease in any given environment. A person who speaks with conviction, knows what assets they offer, what values they have, and where they belong. Though, sometimes, it seems like only a select few are ever lucky enough to obtain this kind of confidence.

Most of us have experienced high and low confidence levels at various periods in our lives. External situations or events and our internal responses to those situations or events can cause confidence levels to rise or fall. As unenjoyable as the lows can be, this underlines an important fact: confidence is malleable. How incredible a power would it be if you could harness the ability to influence your confidence?

Well, it's time to find out this Saturday, Feb 28.

YWiB Vancouver is incredibly excited to host a confidence workshop led by Adrienne Danielson, life coach and Director of Training and Development at H.Y. Louie. Adrienne has worked with corporations, non-profits, and independents for over 25 years. This ain't her first time at the rodeo, let's just say, and she's going to teach you strategies for attaining that "perma-confidence".

Some of the most esteemed business schools in North America (Stanford, for example) offer full courses that focus on dissecting people's own personal fears and emotions, identifying where and how they interfere with their lives, and addressing how to face or affect them. These schools recognize that it is often our own heads that become obstacles in the way of our success.

Register quickly to reserve a limited seat at this Saturday's workshop, usually $150!

It's important to come with an open mind. As with many soft skills and topics, things can get a little touchy-feely at times. We get that not everyone feels comfortable with this type of environment, but it's well worth the experience if you keep yourself open to the process and focused on the learning. Many of Adrienne's past clients sing her praises, so if we can't convince you that you'll strut out of Saturday a new, taller you, just take it from them:

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"Working with Adrienne this past year was much more than mental training enhancement for a work place environment; it was mental training for life. I have been in the grocery industry for over 25 years. Adrienne has always maintained that great technical and tactical skills are not enough; we need to train our mental and emotional dimensions to fully harness our potential...her philosophies became a foundation in my daily life. I highly recommend anyone pursuing excellence in any industry to spend some time with Adrienne. My only regret in working with Adrienne is that it didn’t happen years ago!"

Grace MacInnes, Assistant Store Leader, Fresh Street Brand

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"Adrienne takes a very non-traditional approach to leadership and life coaching and by doing so, is able to provide each individual with greater ownership of their own growth. She explores the inner motivation, goals, and mental barriers of each individual and guides you towards your own decisions. Her ability to pinpoint certain areas and explore them further with you provides you with clarity you didn't know you needed. My experience with Adrienne was life-changing and provided me with clarity on my career path, core values that drive my decision making, and the type of leadership qualities I want to encompass as I grow professionally. Adrienne is extremely talented at supporting your own thoughts as you work through, in your own mind, what it is you need to do to get the results you want. This is a rare quality. After working with Adrienne, I have found success in my chosen career path and have had several opportunities arise because of the clarity I have gained about myself."

Kiran Dhinsa, E.I.D., Canada Border Services

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"Adrienne is a natural teacher, she has an ability to say things that align perfectly with what an inividual needs to gain insight and awareness of themselves in ways they never saw or considered. She is able to create a feeling of safety and trust very quickly which encourages you to express yourself openly and honestly and allow yourself to be vulnerable and open up in ways you wouldn't normally. She is also skilled at getting to the heart of things, quickly and accurately. She is able to help you become aware of old thought patterns that do not support you in a positive way and assists you to develop new ways of thinking that are more productive.

I leave conversations with Adrienne feeling more focused, lighter, more confident in my potential and a renewed belief in "anything is possible in life". 

Robert Hyslop, Independent Owner/Operator, The Re-Store

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"I met Adrienne at a YWiB networking event and we hit it off. I decided to hire Adrienne as a coach because I was at a crossroads with my career, working in an environment that wasn't fulfilling, I wondered what was the best next step. As an avid planner, I wanted to work with someone who would help me understand my goals and career aspirations by breaking me out of my typical way of thinking (read: I'm a worrier). Adrienne helped me lay the ground work for understanding my skills and abilities and how I could lead the search for the job I really wanted. She also helped me take steps to improve my thinking patterns (read: less worrying, more optimism). Working with Adrienne was not only a complete success, but she is overall, one of the loveliest people I have ever met. I would recommend her to anyone wishing to embark on a journey of personal growth." 

Marianna Adamian, Content Marketing Manager, Recombo Inc.

Moustaches 4 #Movember

  Even if you’re not a fan of the ol’ cookie duster the other eleven months of the year, Movember is something we can all get behind. Supporting men’s health, both physical (prostate and testicular cancer) and mental, is something both men and women should be up for.

Holt Renfrew is getting behind Movember in a big way this year.

 

What’s Moustaches 4 #Movember you ask?

Only the biggest Movember Canada event to date! This Tuesday, November 4, from 7:30-10pm at Holts, get dazzled by a runway of male models sporting this season’s neckties and fashion. Enjoy whisky, wine and hors d’oeuvres (one free drink with your ticket) ...and get into an early Christmas shopping mood, because all 3 floors of Holt Renfrew are 10% off for this special night.

 

So go on support those lady ticklers.

Grab a ticket and use our YWiB promo code to get 25% off your ticket price!

Flaunt a flavour saver at Moustaches for #Movember!

Save this photo, enlarge to a size of your liking, stick it on extra thick paper or cardboard and voilá!

 

moustache4Movember

SEO Learnings from SMARTT's CEO, Martin Wong

If you’re not measuring, you’re not marketing.

Recently Young Women in Business’ Vancouver chapter had the opportunity to offer a class on Search Engine Optimization (SEO) and Google Analytics, both vital tools when it comes to building and measuring web traffic. YWiB, together with Martin Wong, CEO of SMARTT, a digital consultant agency, held a sold-out workshop for the benefit of over 40 keen digital marketers. The class provided an in-depth overview of how SEO applies to web searches and how Google Analytics can be used for a clearer marketing picture.

The 20/20/60 Approach to SEO

Mr. Wong covered the details of how Google’s search engine ranks sites, including geographical factors, user reviews, mobile searches, and citations in other posted texts, such as news articles. He also explained the 20/20/60 approach to SEO – 20% site structure, including page speed and how your homepage links; 20% page optimization, including creating a web address with solid tag words in it; and 60% social proof, which means Making your content involved, inviting readers to your page and inspiring them to share your site, thereby extending the reach of your page. All of this is to achieve the end goal -- increasing your online conversion rates (the percentage of people who visit your site and consequently complete a purchase or other desired action).

Knowing how the flow of data is managed could mean the difference between your site booming or being lost in pages of search hits.

Analytics-Informed Strategies Means More Conversions

Recently business has learned that online conversion rates – the percentage of people who visit your site and consequently complete a purchase on it – can be the key to surviving and thriving. Analytics allow a business to compose a strategy to draw in customers based on the invaluable information provided. Where customers live, how often they visit your site, the average they spend, what pages cause them to abandon their shopping cart, only a marketer who knows how to use the data provided, and understands how to give that information context, can make an effective and reliable strategy for their company.

Interpreting the data efficiently involves segmenting it so the most useful aspects are available for reports. Controlling what data gets taken from your site for the Analytics, setting up your own segmentation, and brand searches linked to specific sites will help you tame the flood of information provided in order to refine the focus of your online presence. Breaking sales down into parts allows you to track your customer’s actions every step of their way and improve the process. Split testing two copies of your site to determine what changes your customers or audience prefer can cut losses from unpopular site changes.

Navigating the analyses and algorithms of the net gives you a valuable tool in refining your company’s online presence and gearing your site to draw in customers and interested readers, sharing your content across social media, links and searches. And thanks to YWiB and SMARTT, our workshop attendees have a head start.

Thanks again to SMARTT and Martin Wong for their participation in the workshop!


Don’t miss the next incredible opportunity for hands-on learning and skill development

YWiB Vancouver's

Beyond Pink Leadership Conference

November 14th and 15th

beyondpinkvancouver.com

Providing interactive discussions with BC’s top leaders, keynote speeches, and intimate workshops, our conference is an excellent opportunity for you to meet a large number of young women starting their business careers, like you, and to renew your passion for your professional and personal aspirations. Grab tickets today!


Post written by Tiffany Fox.

Tiffany Pomegranate Fox is a writer with more than ten years’ experience. She’s done websites, event and business promotions, product descriptions, social writing, and is a proofreader and editor. She has a blog where she explores the things that interest her about writing while she refines her craft in the process. TPomegranateWriter.blogspot.ca

FWE Leader's Lounge Interview with Joe Segal

The Forum for Women Entrepreneurs (FWE) Leader’s Lounge is an intimate networking series with some of the best business leaders in Vancouver. YWiB’s Ladies in Pink recently took part in the sold out evening with Joe Segal. Joe Segal is a world-class philanthropist and businessman in the BC community. Among a long list of achievements, he was the founder of numerous Field’s Stores in 1950 and acquired Zellers in 1976, and later, the Bay. With his extraordinary business acumen he doubled the sales of the struggling retailer in just three years by investing in what customers wanted.

JoeSegal-FWELeaderLounge

Mr. Segal spent over an hour sharing personal stories of his career successes and failures and the lessons he learned over 60 years of business engagement. Even more than the man’s lessons in business, his character as a philanthropist was what really shined.

His astuteness and passion for life was evident as his recounted the importance of the partnership with his wife and the significant impact that your actions have on your family. All four of his children were in the room to support their admirable father. They even gave up their reserved seats to those who don’t normally get to see Mr. Segal.

The entire room was on their feet in applause at the end of the event. The charismatic person he is, Mr. Segal comfortably spent an hour meandering around in casual conversation with guests eager to ask more about his business endeavours and life.

Applause-FWEJoeSegal

Thank you to FWE for their continued support of YWiB and for providing opportunities like this to our Ladies in Pink team. Get in touch with us to become part of the Ladies in Pink, your ticket to contribute to the community and get access to some of the best events in Vancouver.

 

Written by: Stephanie Fowler YWiB Vancouver Mentorship Coordinator & Ladies in Pink member

YWiB Yoga with Matt Corker

Come join YWiB Vancouver at the lululemon store in Kits for a 45-minute yoga class and goal-setting workshop. If you were laughing and rolling around on your mat with us at the Roundhouse last year, you know why #YWiByoga was so popular.

We’re so excited to have Matt Corker, Product Quality Operations Manager at lululemon and Lifestyle Designer/Founder of Matt Corker & Co., back as our source of laughter, inspiration, and pigeon pose instructor. He’s proof that attitude can get your far in life, and that’s largely what his mantra is all about. Last October, he had us envision our ideal life ten years from today and slowly trace the years and milestones backwards to identify the path that got us there. Think of Hansel & Gretal’s breadcrumb trail.

How often do you paint yourself full picture of your future – career, personal/family life, hobbies, lifestyle, location, and all? With downward dog-induced relaxation, this type of visualization and planning goes hand-in-hand with yoga’s introspective intention. We want you to put that picture into full colour: set your trajectory, map your path and go get it!

lululemon Kits | 2113 West 4th

Thursday, August 28th | 7:30-9:30pm

$10 | tickets here!

Bring | a mat, H2O, and a notebook

#YWiByoga Returns!

Come join YWiB Vancouver at the lululemon store in Kits for a 45-minute yoga class and goal-setting workshop. If you were laughing and rolling around on your mat with us at the Roundhouse last year, you know why #YWiByoga was so popular. We’re so excited to have Matt Corker, Product Quality Operations Manager at lululemon and Lifestyle Designer/Founder of Matt Corker & Co., back as our source of laughter, inspiration, and pigeon pose instructor. He's proof that attitude can get your far in life, and that's largely what his mantra is all about. Last October, he had us envision our ideal life ten years from today and slowly trace the years and milestones backwards to identify the path that got us there. Think of Hansel & Gretal's breadcrumb trail.

How often do you paint yourself full picture of your future – career, personal/family life, hobbies, lifestyle, location, and all? With downward dog-induced relaxation, this type of visualization and planning goes hand-in-hand with yoga’s introspective intention. We want you to put that picture into full colour: set your trajectory, map your path and go get it!

lululemon Kits | 2113 West 4th

Thursday, August 28th | 7:30-9:30pm

$10 | tickets here!

Bring | a mat, H2O, and a notebook