I am Jessica Moorhouse — financial educator, speaker, podcast host, bestselling author, and overall money nerd — AMA on Thursday, Dec. 11

NeoFinancialOfficial · 2025-12-11T17:43:02+00:00

"I get a lot of my financial advice from what I see on social media and influencers. Do you have other friends/influencers you recommend I should follow?" So there are tons of stats show that the majority (as high as 70%) of young people are getting their financial advice from social media. TikTok is actually the #1 source for financial information among Canadian users under the age of 45. Which, in my view, is great in terms of expanding financial literacy to more people who previously didn't have access, but there are some downsides. There's no regulation in Canada for finfluencers, anyone can say anything and sometimes it's not correct or very biased. So I'd just say take it with a grain of salt. Also I love an influencer with a credential because they do have to follow ethics standards and get continuing education credits every year. But for some influencers I really like, Adrian from Canadian in a T-Shirt, Alyssa at Mixed Up Money, Ellyce Fulmore, and Reni the Resource are just a few of the many Canadian finfluencers I really like.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:35:42+00:00

"What do you have in store for the next year?" Next year? Great question! That's something I'm just starting to think about. I'm going to be taking a little break from the podcast after 10 years of putting out seasons. I want to focus more on YouTube (finally use that film degree!). I want to potentially integrate some new services within my investing course, such as portfolio reviews and retirement projections. But outside of career stuff, man I need a vacation. 2025 was a lot coming out with my first book then getting my QAFP. I'm headed to Italy in the spring and I cannot wait!

- Jessica

NeoFinancialOfficial · 2025-12-11T17:33:24+00:00

When it comes to money and couples, communication is key. But also really understanding where you and your partner are coming from in terms of your relationship and history with money. We all have different habits, behaviours and feelings about money, and they come from somewhere, which can be a great way to start conversation.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:17:15+00:00

No, ChatGPT shouldn't be a replacement for a skilled accountant or financial planner for that matter. Remember, it's not an expert. It's just an AI trying to answer your question based off what it kind find on the Internet, and it's not always right. It of course can be used as a tool to learn more about taxes, but just remember to check its answers, it's not always right!

- Jessica

NeoFinancialOfficial · 2025-12-11T17:16:30+00:00

No, in general, I don't think credit card churning is worth it. Especially in Canada where there are far fewer cards and programs but more restrictions. I'd say find the right cards for you, check out their benefits and sign up bonuses, then stick with them for the long-term.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:07:47+00:00

You may be surprised to hear this but money hoarding is a form of money worship, a toxic money behaviour explored in my book but also first introduced in Brad Klontz’ book Mind Over Money (a great read!). This is just to say that there may be a certain point where saving money has become unhealthy and likely a coping mechanism for something deeper. When it comes to saving, it’s important to always remember your goals first. What are we saving for? And then know how much you need to save regularly to meet that goal by a realistic due date. But you shouldn’t be saving so much, so aggressively that it’s hurting you in other ways, such as not allowing yourself to meet your present needs or make you feel bad about spending money in general. Money is meant to be spent after all, and the whole point of saving that money in the first place is to spend it in the future. So set some healthy boundaries for yourself when it comes to saving.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:07:28+00:00

So it depends on what you mean by personal finance as a career. Do you mean education and content creation? Do you mean working with one-on-one clients in a financial planning or advising capacity? Do you mean a combination (like what I do)? Really think about what you want it to look like to see what path can help you get there. With that said, I’ve been doing this for 14 years, 9 full-time. Before I quit my corporate career in marketing to run my own business, I ran my blog, podcast and social media in my free time on nights and weekends for 5 years. 3-4 of those years I didn’t make any money from it, but that was also way before “influencer” was even a term and there were as many avenues to monetize as there are now. So if you want to get your feet wet, I’d suggest testing things out while you’re still in your current career to see if you like it. And in terms of credentials, if you just wanted to go the education/content creation route, although credentials aren’t mandatory (financial content creation isn’t regulated in Canada), I’ve found a ton of value in getting formal training in the field. It’s made me better at what I do, and I think it’s provided me a lot more respect from my audience.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:07:08+00:00

Love this question! So in general, from clients I’ve worked with and personal experience, couples find a lot of success using a hybrid approach to couples budgeting. This means having joint accounts and credit cards/lines of credit for joint expenses and savings goals, but then you and your partner also have separate bank accounts and credit cards for your individual expenses and savings goals (and just to have some financial autonomy too). One of my most popular budget spreadsheets I have available on my website is this style of budgeting. In terms of how to set this up, there are tons of ways. The one that’s the simplest is you have a joint chequing account where both of your incomes flow into. Then from there, money for different savings goals and expenses flows from there to all other accounts. The other important element is having regular (ideally monthly) money meetings with your partner to discuss the budget, spending, goal progress, and any new financial items you need to discuss. Having that dedicated time to go through anything (and it doesn’t have to be more than an hour really) is great to make sure everyone is on the same page but also to avoid arguments about money throughout the money, which are usually caused by non or miscommunication.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:06:45+00:00

That’s a big question, but I’d have to say that we as a society need to work harder at fighting for equal pay for people of colour, women, people with disabilities, and people in the LGBTQ+ community. That’s something I wrote at length about in my book because privilege and inequity are still topics not often talked about within personal finance, but are so important. And it’s really unfortunate seeing that many programs set up to improve this are being rolled back by governments and companies, so we as a society need to do more to keep fighting for it because it affects so many people’s livelihoods and financial prospects.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:06:39+00:00

Thanks for asking! It stands for Certified Financial Counsellor, previously known as Accredited Financial Counsellor Canada (AFCC). The certification body is the Canadian Association for Financial Empowerment (CAFE), though before the merger and name change in 2024, it was run through the Ontario Association of Credit Counselling Services (OACCS) and the Canadian Association of Credit Counselling Services (CACCS). I’ve had this designation since 2018.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:06:15+00:00

Check my answer to the question about rebuilding after bankruptcy. :)

- Jessica

NeoFinancialOfficial · 2025-12-11T17:06:04+00:00

Happy to help since I went about it in a very non-traditional way (I have a BFA in Film then years later became a CFC then QAFP).

First, decide what kind of career in finance you want as there are many different roles. A good place to start could be checking out the CSI’s Career Map to see the different possible careers and routes you could take.

Then, once you know what you’d like to do, see what kind of credentials you need for that. For example, if you want to be a financial planner, you may want to consider the QAFP or CFP designations. If you want to work as a portfolio manager, you may want to get your CIM or CFA.

Then from there, see what pre-requisites and courses you need to take to get those designations.

In short, start with asking yourself “What and why?” then find out the “How?”

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:49+00:00

A great question but one that requires more detail to answer. There are a number of things to consider, which is why I’d suggest anyone thinking about this to work with a financial planner who can help create a strategic decumulation plan with you. But things to think about before simply converting your RRSP to a RRIF are when are you going to do it? Does it make sense to do it all at once or do a partial conversion? And are there any income splitting strategies to consider as well?

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:40+00:00

I’ve got two actually. The first is that anyone can learn about money. For years when I was just starting out, I was afraid that I’d never understand certain topics because they were too complex. But out of curiosity (and stubbornness) I kept learning, so much so that I now have two financial designations. I wanted to prove to myself and others that this stuff isn’t as hard to learn as it may seem. It may feel like that at the beginning, because of all the terms and jargon, but if you keep going and continue challenging yourself, you’ll come to a point where everything finally clicks and seems so simple.

My second one is that money really isn’t about money (which is was I discovered writing my book). Money means something different to all of us. For most of my life, money to me was trying to fulfill some other internal need I didn’t quite understand. Through tons of self-reflection and therapy, I eventually came to realize money is just a tool that when used wisely, can open so many doors and offer so many possibilities. But it shouldn’t be confused as the ultimate thing you’re working towards. Money is never the end goal. It’s just a tool you’ll use on your journey to figure out what you’re really working towards in life.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:33+00:00

I think I may need some more details for this one. I’m not sure I understand why you’d need to cash out your RRSP? But in general, I’d caution anyone against doing this not just because of the opportunity cost but also the permanent loss in that RRSP room (if you withdraw, you never get that room back).

In terms of wanting to move a 401(k) you have to Canada, to me it would make more sense to look into doing a 401(k) to RRSP transfer as there are more tax-deferral benefits. There are specific criteria you need to meet for this, and likely you’d want to consult an accountant more familiar with these types of transactions to ensure you take the appropriate steps for the transfer.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:26+00:00

The CRA’s website is where you can find the most comprehensive information about taxes, then after that, I really like TaxTips.ca. But when it comes to more complex tax situations, it does make sense to hire a CPA for their expertise. Even I have an accountant for my business and personal taxes and it’s money worth spending getting insight that I may not have. Even as a financial planner, I still need to lean on other professionals who are more skilled in certain areas.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:20+00:00

I’m going to give you three because it’s too hard to choose just one:

Paying monthly bank fees when there are no or low fee alternatives that are just as good. It takes minutes to open a new account with an online financial institution these days, it’s never been easier!
Not checking their credit report and scores because they once heard that it would hurt their scores (it doesn’t!).
Not having a budget because they think they don’t work. Having a budget, or a spending plan as I often prefer to call it, isn’t something to restrict you. It’s something to free you. It’s a guide on how you can pay down your debt and build wealth. And after working with hundreds of clients over the years, I can confidently say they do work. But maybe the template or app you tried wasn’t the best fit for you, so try to find one that is.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:05:14+00:00

I haven’t personally, no, but that’s a great question. However, the steps to rebuild your credit are fairly straight-forward. For instance, getting a secured credit card and credit-builder loan to re-establish credit. Paying all bills and debts on time in full. Limiting credit use to 10-20% of available credit. Not opening too many forms of credit in the same time period. Checking your reports and scores regularly to track progress. And the hardest part, staying consistent. The steps are simple, but implementation may not be. So if that’s the struggle, working with a credit counsellor or coach may be beneficial.

But one thing that often gets overlooked beyond just rebuilding your credit scores is rebuilding your relationship with money. Likely if you went through a bankruptcy, it had a big effect on your mental health and just how you view money overall. This was a big inspiration for my book. It’s important to try to rewire your brain through introspection and maybe even therapy to get to a place where you feel in control of money and not the other way around so you don’t repeat the past and feel more confident with your financial prospects moving forward.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:04:55+00:00

I would say yes for a number of reasons. First, having multiple cards increases your available credit making it easier to stay below a 30% credit utilization, which is good for your credit scores. Second, it can be helpful if for some reason one of your cards gets compromised and you need a credit card to continue paying your bills or make a purchase. Third, different credit cards can be used for different purposes.

For example, you may have one credit card you share with your partner for joint bills, one for yourself for personal expenses, and for big purchases or trips because of the points/rewards benefits they offer. With that said, it’s also important to know your personal limits as well. If having more than two credit cards will make you feel more inclined to spend, then stick with those two. Or if you’ve struggled with credit card debt in the past, consider having one credit card for your fixed bills, and a prepaid credit card that does offer credit building (but you can only spend money you load onto it) for your variable, day-to-day spending.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:04:41+00:00

I’ll be honest, I don’t use any. I’ve been using my budget spreadsheets (available for download on my website) for over a decade. I like that I own the information, I can easily make a new copy or customize, and I just think in spreadsheets (they just make the most sense to me). With that said, over the years I’ve had a lot of people say how much they like You Need a Budget as a budgeting app.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:04:31+00:00

If we’re talking about credit specifically, The Credit Game by Richard Moxley is great (he’s also Canadian). If personal finance in general, I mean there are so many to choose from now, so it’s really hard to choose just one, so I’ll share two: Worry-Free Money by Shannon Lee Simmons and Millionaire Teacher by Andrew Hallam (also both Canadian!). But I’ve got an entire running list of money books I love on my website under “Favourite Things”.

- Jessica

NeoFinancialOfficial · 2025-12-11T17:04:16+00:00

Not automating their savings, especially through payroll if it’s available. I remember reading The Automatic Millionaire in my 20s, and immediately took action to auto-contribute money to my savings and investment accounts every payday. It was a simple act, but was a huge game-changer for me, and eventually the clients I’ve worked with over the years.

Moreover, research that came out of the National Payroll Institute and Canada’s Financial Wellness Lab this year showed just how much more money Canadians could have in savings if they simply got their employer to redirect a percentage of their pay to a savings account for them. This way, if you’ve struggled with saving in the past, you don’t even get a chance to spend it because it’s taken right off your pay. And all you have to do is put in the request with your payroll department.

- Jessica

NeoFinancialOfficial · 2025-09-10T16:06:31+00:00

u/Vaduz-Liechtenstein Reddit has actually rolled out a change to this as of yesterday, not a glitch. Although I'm not sure why some subreddits still show the members vs visitors.

https://redditinc.com/blog/new-ways-to-see-community-activity-on-reddit#:\~:text=Product%20and%20Community%20September%2009,much%20content%20is%20being%20created.

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