If you’re looking to learn more about your personal finances, get your finances in order, get out of debt, save more, or any combination of these, bookmark this page!
This Money Master Class will take you through a year of financial tasks, advice, and times of reflection–all with the purpose of getting your personal financial life in order.
At the beginning of 2020, Gail Vaz-Oxlade came out of retirement to share her wealth of financial advice with the world one last time. She launched her Money Master Class on Twitter, sharing daily tweets with advice, homework, and, questions to start conversations. I’ve summarized all of these tweets into weekly recaps for you to have access at any time.
Who is Gail Vaz-Oxlade?
If you don’t already know, Gail Vaz-Oxlade is a Canadian treasure! She is a money guru who has written many books and has hosted a number of popular TV shows. One of my favourite shows of hers is Til Debt Do Us Part where Gail shares her straightforward, no-nonsense money advice with married couples.
How to Take this Class
This is an online class that was hosted on Twitter in 2020. I’ve summarized each week of the class on our blog in Weekly Recap posts, so that the information is ready and organized for you.
You can go through this information at your own pace. My suggestion on how to tackle this course is as follows, but do what works for you!
- Go at your own pace, but at a consistent rhythm.
- While this course is separated out into months of the year, you can start at any time and work through the 52 weeks. Just make sure to start at week 1 and go from there.
- Read through the week’s post at the beginning of the week and plan out time to tackle the tasks at hand.
- Be honest with yourself and your finances as you approach each task, question, and time of reflection.
- Ask questions! If you have a question, feel free to reach out on social media or comment on the weekly recap post and we’ll do our best to answer your questions.
- Money Master Class: Introduction and Supplies List
Start here for the list of supplies you will need for the year. The notebooks are the first items you’ll be using, so get those ones first.
- Online Resources
Find Gail Vaz-Oxlade’s budget spreadsheets, worksheets, quizzes, and resources here.
- Money Master Class: Week 1
Week one has you looking at your Core Values and Goals for the year, ensuring that these two things align and don’t conflict with each other.
- Money Master Class: Week 2
Week two has two parts: first, looking at our willingness to change; and second, the task of tracking your spending.
- Money Master Class: Week 3
Week three began the task of calculating debt and debt repayment.
- Money Master Class: Week 4
Week four focuses on creating visual pictures of your debt and making a credit card condom.
- Money Master Class: Week 5
Week five has you reviewing your goals and core values.
- Money Master Class: Week 6
Week six has you taking inventory of your belongings and also continues the topic of tracking your spending.
- Money Master Class: Week 7
Week seven has you thinking about your spending habits and also calculating the true cost of having a vehicle.
- Money Master Class: Week 8
Week eight focused on needs vs. wants and has you creating a net worth statement.
- Money Master Class: Week 9
Week nine is a bit of a catch up week and a chance to think of what you are grateful for.
- Money Master Class: Week 10
Week 10 focuses on tracking spending and learning about high interest savings accounts.
- Money Master Class: Week 11
Week 11 covers a lot of ground: self discipline, allowances for kids and other financial advice for when you have children, investing, RESPs, and batch cooking.
- Money Master Class: Week 12
Week 12 teaches about investing, helping us to find out our risk profile and investing timeline.
- Money Master Class: Week 13
Week 13 continues the discussion on investing with some tips from Gail.
- Money Master Class: Week 14
Week 14 continues talking about needs vs. wants, introduces the curveball jar and curveball account, and has you looking at your ATM fees and personal economy.
- Money Master Class: Week 15
Week 15 continues the discussion of personal economy and HISAs.
- Money Master Class: Week 16
Week 16 introduces the concept of a Money Set Point and talks about kids and finances.
- Money Master Class: Week 17
Week 17 addresses overdraft protection and breaking the cycle of reliance on your overdraft. This week also has you getting a handle on bill payments.
- Money Master Class: Week 18
Week 18 includes a reminder to file taxes and reasons to be on top of filing taxes. Gail also introduces tax form T1213.
- Money Master Class: Week 19
Week 19 begins the discussion on shelter. This week includes a conversation about renting not being a waste of money and also how to calculate the cost of your home.
- Money Master Class: Week 20
Week 20 prepares you for buying your own home by focusing on the math behind choosing a property you can afford.
- Money Master Class: Week 21
Week 21 talks about the difference between buying a starter home versus your forever home and also gives advice on how to approach paying off your mortgage.
- Money Master Class: Week 22
Week 22 continues the conversation about paying off your mortgage as fast as you can and the benefits to this approach.
- Money Master Class: Week 23
Week 23 brings attention to relationships and money. This week also looks at the cost of having kids and planning for life with kids.
- Money Master Class: Week 24
Week 24 provides advice on what to do if you have a change in your income. Continuing the discussion on relationships, this week talks about divorce and provides advice for going through one.
- Money Master Class: Week 25
Week 25 provides advice about moving out on your own and preparing for emergencies. This week also talks about getting married and the cost of a wedding, as well as assisting aging parents.
- Money Master Class: Week 26
Week 26 helps you to prepare for retirement and your retirement budget. This week also gives advice for changing relationships and having hard conversations.
- Money Master Class: Week 27
Week 27 has you starting to set up your Emergency Fund by calculating how much money you need to have for it. This week also guides you through financial and life steps if you’re widowed.
- Money Master Class: Week 28
Week 28 has you looking at life insurance for your life and circumstances. Gail also addresses the topic of fear.
- Money Master Class: Week 29
Week 29 has you looking at disability and critical illness insurance. Gail also addresses the topic of selfishness.
- Money Master Class: Week 30
Week 30 has you choosing guardians for your children, confronting the topic of death, and estate planning.
- Money Master Class: Week 31
Week 31 has you continuing your estate planning by choosing a Power of Attorney. Gail also talks about the realities of marrying a money moron.
- Money Master Class: Week 32
Week 32 has you reflecting on your progress so far this year. This week also has you starting a 6-month spending analysis.
- Money Master Class: Week 33
Week 33 has you continuing with your spending analysis and looking at the behaviour and driving forces behind your spending decisions.
- Money Master Class: Week 34
Week 34 has you continuing the spending analysis and looking at your needs vs. wants.
- Money Master Class: Week 35
Week 35 provides more time to work on your spending analysis and also has you looking at the topics of celebrating successes and instant gratification.
- Money Master Class: Week 36
Week 36 starts you looking at your debt repayment and filling out your debt repayment worksheet.
- Money Master Class: Week 37
Week 37 talks about the realities of debt fatigue, then has you reordering your debt and finding out how long it will take to pay off your debt.
- Money Master Class: Week 38
Week 38 has you creating a budget based on your spending analysis and then creating a visual budget based on the information. This week also discusses snowballing payments.
- Money Master Class: Week 39
Week 39 has you looking closely at your budget and providing advice on what to do if your budget does not balance.
- Money Master Class: Week 40
Week 40 has you doing some self reflection, looking at topics such as choices, values, and failures vs. opportunities.
- Money Master Class: Week 41
Week 41 has you looking at your bank fees and the interest rates of your savings accounts. Gail also talks through some life advice on the topics of life’s ups and downs, living with debt, and values.
- Money Master Class: Week 42
Week 42 has you checking on your budget to ensure it balances, looking into whether you’re using your overdraft, and re-looking at your debt repayment plan.
- Money Master Class: Week 43
Week 43 has you planning your retirement savings and checking on the status of your curveball and emergency fund accounts. Gail also briefly touches on TFSA’s and RESP’s.
- Money Master Class: Week 44
Week 44 has you checking your credit score. This week also gives you the chance to check in on a number of areas addressed earlier in the year: your will and power of attorney; taxes; life insurance; and investment portfolios.
- Money Master Class: Week 45
Week 45 provides an opportunity to look back at everything learned so far this year. This week also gives more guidance on the topic of kids and finances and defines the personality types of Misers, Spenders, and Avoiders.
- Money Master Class: Week 46
Week 46 defines the personality types of Deprivers and Classic Debtors and addresses adulthood and responsibility. This week also returns to the topic of Money Set Points. There is a question and answer section this week
- Money Master Class: Week 47
Week 47 has you looking at your feelings. Gail talks about feelings of denial, entitlement, and what we deserve. There are a number of questions and answers with Gail included this week.
- Money Master Class: Week 48
Week 48 touches on a number of topics including relationships, helping others, and the importance of community. This week also gives the reminder that credit is not your money and includes a question and answer section with Gail.
- Money Master Class: Week 49
Week 49 gives you the opportunity to reflect on the year and set your intentions for next year. This week you will also be updating your net worth statement.
- Money Master Class: Week 50
Week 50 is a chance to re-examine your budget and make the necessary adjustments. This week is also a chance to check in with your debt repayment plan.
- Money Master Class: Week 51
Week 51 has you looking at your stuff and how you take care of it. Also addressed is the idea of sharing belongings and how this saves you money.
- Money Master Class: Week 52
Week 52 is about celebrating your success in finishing the year and looking back at some of the most memorable lessons.
You can find all of the relevant spreadsheets, worksheets, quizzes and all other Gail Vaz-Oxlade resources here on Hoyes – Michalos.
The work is worth it!
Learning, growing, and getting control of our financial situations can impact every area of our lives. One reason I love budgets and knowing the ins and outs of my financial situation is that it enables me to confidently make choices for my life. I may not have a lot, but I’m able to make what I do have work for me.
Taking steps like the ones Gail walks you through in the Money Master Class, can help get you to a place of financial freedom and financial control.
I hope you enjoy the class as much as I did! I would love to hear how it goes for you!