Not Just Money

33 WTF prediction market, what?

It’s here.
Prediction markets are coming to an app near you, probably as early as late summer. What is a prediction market and why should you care? For starters, prediction markets are currently the fastest-growing segment of global financial technology, with market volume on pace to exceed hundreds of billions of dollars globally. Second, it can easily derail your financial future. Third, now you can talk about it at cocktail parties and with the bartender while you watch a sports game – preferably not while sports betting, but we’ll get to that.
So, how does it affect our financial wellbeing? Prediction markets are framing themselves as investment opportunities but are they really? Or just another wolf in sheep’s clothing?
Join our hosts as we dive into this polarizing topic and finally untangle what all the fuss is about.

32 The Toronto job – a story of theft

A few years have gone by, but the professional hit experienced by one of our hosts still lingers. Hear about the experience and the aftermath but more importantly, how that has changed their mindset all these years later.
Links:
Want the fresh take on this story when it happened? Listen in to the original podcast recording on the Mastering Money podcast!
Apple podcast: https://podcasts.apple.com/ca/podcast/s9-e04-surviving-the-shadows-street-crimes-and-robbery/id1476545093?i=1000645449846
Spotify: https://open.spotify.com/episode/0xzzfb7ZswK71eypk5NZJI
Podbean: https://cpafinlit.podbean.com/e/mm-s9-e4/

31 Can You Spot the Offside? FIFA Tournament Scams

As the FIFA World Cup heats up, Canadians need to pay attention to more than just cheering on their home teams. With big events such as this, scammers and bad actors will be hiding in every corner – from digital spoofs, counterfeit merch, and just straight up physical robbery.
This week on Not Just Money, learn about what to watch out for, whether you’re attending the games, watching from the sidelines, or even if you are avoiding it all together. Protect yourself so that this beautiful game doesn’t turn into a financial nightmare.
Links:
Find those FIFA beavers! https://oldtowntoronto.ca/beaverquest/

30 How your performative self scripts money

Over the course of human existence, our need to fit in and be accepted became the foundation of our survival. In today’s modern world, we aren’t worried about being exiled from our tribe and flung into the wild to be eaten. Although, some would argue that being an online outcast or social media pariah would be on par.
This week on Not Just Money, our hosts explore the current definitions of the performative self and how that translates to our money habits and money identity. Who we are, who we project ourselves to be are deeply entwined with our relationship to money because money is one of the most powerful stages of which identity is performed.

29 The 4 questions home buyers never ask

It seems every time we read or watch the news, there is inevitably a story about homeownership. When did Canadians become so house obsessed? Has it always been like this? Our hosts dive into this contentious issue and even dabble into the generational divide – who will win, the boomer or the millennial?
And when did renting get such a bad reputation? You have to live somewhere and is owning that much better than renting? Doretta and Li will break down the numbers, and you choose, does home ownership make sense for you or does renting help you build real wealth? How you answer may just determine your future financial wellbeing.

28 How shame hijacks our financial future

We know that our decisions can be driven by our emotions, good and bad. In today’s episode our hosts are going to look at the triad of emotions that can take us to some really dark corners – embarrassment, guilt and the big kahuna, shame.
First, defining these separate but related emotions is critical to understand how they impact us and ultimately how they can derail our financial futures. What we internalize as our truths and as our identities can shape how we manage and view money.
Second, Doretta and Li talk about how these emotions get translated in a financial context. How they show up in our financial decisions and what red flags to look out for.
Finally, it’s about how we rewire and rewrite the story so we can all retire rich.

27 How do you know it’s fake? (Part 2)

Becoming an influencer quickly shot up the list of aspirational careers since the dawn of the social media age but have you ever wondered how they actually make money?
Why is it important to know?
As consumers, you always want to know how someone is being paid. It can lead to murky conflicts of interests or can cloud their objectivity.
Join our hosts in part 2 of uncovering social media. They dived into the dark recesses of the interwebs so you don’t have to, bringing you the real shadowy side of social connection.
Can you tell what’s real or fake?

26 How do you know it’s real? (Part 1)

Honest to truth, that title can go in all sorts of weird and wonderful ways but for this week’s episode, we are talking about the truth is social media “advertising.” Why does it feel like your algorithm knows what you’re thinking before you even thought it or said it out loud? And are there rules to what can be promoted via influencers? Are they “friends” or “businesses”?
Doretta gets on her soap box and shares how a simple ad on towels propelled her into her famed rabbit holes as she dives in to find out the truth. Are regulations protecting consumers on digital platforms as they do for traditional media? What can we, as consumers, do to better protect ourselves, not only from being duped by bad products but sometimes these decisions carry real life consequences.
Make sure to tune into next week’s episode as we continue this terrifying thread.
Links:
Canadian law: https://competition-bureau.canada.ca/en/deceptive-marketing-practices/types-deceptive-marketing-practices/misleading-representations-and-deceptive-marketing-practices
Competition Bureau Canada: https://competition-bureau.canada.ca/en
Ad Standards – submit a complaint: https://adstandards.ca/complaints/how-to-submit-a-complaint/
Report Fraud: https://reportcyberandfraud.canada.ca