Skip to main content
Complete Olympic Games coverage at your fingertips
Your inside track on the Olympic Games
Enjoy unlimited digital access
$1.99
per week for 24 weeks
Complete Olympic Games coverage at your fingertips
Your inside track onthe Olympics Games
$1.99
per week
for 24 weeks
// //

Stress Test Season 3

You had your best-laid plans and then COVID-19 came along and hammered the entire economy. But you’ve got this – if you have the right information. Join The Globe and Mail’s personal finance team, columnist Rob Carrick and editor Roma Luciw, as they guide you through one of the biggest stress tests your finances will ever face. If you’re between 20 and 40, this financial advice is for you.

Brought to you by

S3 Episode 9 What it’s been like to invest during a pandemic

Investing has been one of the biggest financial stories of the pandemic. There was the stock market crash in March 2020, followed by a huge rebound. We’ve heard about meme stocks and cryptocurrencies. But what does it all mean for Gen Z and millennials? In the final episode of season three, we hear from listeners about their investment stories and how they reacted to all the ups and downs during COVID-19.

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 8 One family’s solution to Canada’s housing crisis

One way to cut housing costs is for multiple generations of a family to live together: often children, their parents and their grandparents. The concept isn’t new and it has many benefits, including affordability in expensive housing markets. But how do you make it work both financially and personally? We hear from a family that moved three generations into a home they designed and built in North Bay, Ont. Plus, Rob talks to Murtaza Haider, a professor of real estate management at Ryerson University, and real estate consultant Stephen Moranis about what multigenerational housing looks like in Canada. They also look at tips for people who want to move forward with this type of housing arrangement.

Story continues below advertisement

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 7 The high cost of daycare

Paying for childcare is not the first or second thing that comes to mind when you decide to start a family. So how do you plan for the impending costs that can be so high in Canada that some call it “the second mortgage”? We hear from Kristi, a 34-year-old who made the move from Saskatchewan to Victoria, B.C., with her husband during the pandemic while juggling debt, a new job, unemployment - and their first baby. Plus, Roma talks to Janine Rogan, a Calgary-based chartered professional accountant with a six-month-old at home. Janine breaks down how to financially prepare for the cost of daycare.

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 6 What’s a wedding worth?

The pandemic ruined many wedding plans. But even before that, a culmination of peer pressure and over-the-top consumerism had pushed the cost of weddings sky-high. It’s made some couples ask: What is a wedding worth? We hear from Jasmine, a glamorous but cost-conscious millennial who got married just as the world first shut down during COVID-19. Plus, Karen Cleveland, co-author of the book called The New Wedding Book: A Guide To Ditching All the Rules, talks with Roma about the need to rethink weddings from a personal finance perspective.

Read the transcript in English or French.

SHARE THE EPISODE:

Bonus Making the most of your pandemic savings

Fewer spontaneous coffees, commuting costs and vacations have left some with a tidy sum in their savings. This week, we’re sharing an episode of The Decibel, The Globe and Mail’s daily podcast hosted by Tamara Khandaker. In this episode, Rob and Roma join Tamara to talk about what to do with new-found savings, the meaning of “revenge spending” and how to stave off FOMO in a post-vaccine world.

SHARE THE EPISODE:

S3 Episode 4 Salary negotiation 101: How to ask for a raise

A lot of people feel uncomfortable negotiating with their boss for a raise and other perks. But if you don’t ask, you won’t get. And it’s definitely a lot easier to save money if you’re making more of it. We hear from a group of friends (who tell each other everything) as they discuss their recent experiences asking for a raise. Plus, Roma talks to Hadiya Roderique, who taught negotiation at the University of Toronto’s Rotman School of Management and also was a lawyer. She shares her tips on how to make your case like an expert.

Story continues below advertisement

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 3 Going solo: How to set yourself up for financial success if you’re single

How much does it cost to be single? And how do you set yourself up for financial success with half the earning power? We hear from a 34-year old woman who experienced a breakup and realized the importance of having financial independence regardless of your relationship status — and figured it out. Plus, Rob speaks to Bridget Casey, founder of personal-finance blog Money After Graduation, for money advice specific to singles.

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 2 Big city exodus: How far would you move to buy an affordable home?

Here’s the dilemma: The real estate market is too hot where you are but you still want to buy a home. During the pandemic, there has been a surge of Canadians who are leaving big cities in search of real estate - and we mean really leaving. What happens when you go off the beaten trail in search of buying an affordable home? We hear from Jordan Owens, a 30-something world traveler, who made the move from Toronto to Saint John, New Brunswick – and bought a home for $99,000. Plus, Rob and Roma delve into poll data that shows just how popular this trend has become.

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 1 Priced out: Young Canadians on trying to buy in a wild real estate market

One of the biggest surprises of the pandemic has been the incredible rise of house prices in major cities and smaller towns across the country. It’s great if you’re selling. But for young Canadians with dreams of buying a home, it’s demoralizing. We hear from three 20-somethings who have done everything right – good jobs, minimal debt, strong savings plans – and still can’t afford to buy the homes they had diligently planned for. Rob and Roma reflect on the past year and how rising house prices are making home ownership unaffordable.

Read the transcript in English or French.

SHARE THE EPISODE:

S3 Episode 0 Coming soon: Season 3 of Stress Test

Stress Test is returning for its third season of pandemic personal finance. Join The Globe’s columnist Rob Carrick and editor Roma Luciw as they delve into more of the topics impacting your wallet one year into COVID-19 lockdowns. On deck this season: negotiating salaries, kiboshed weddings and the thing everyone’s talking about — how hard it is to buy a house. Listen to the trailer and catch up on previous episodes now.

SHARE THE EPISODE:

Season 2

S2 Episode 8 Are your parents giving you money?

Are you getting financial help from your parents or family? Do you feel guilty or embarrassed about it? If the answer is yes, you are far from alone. In the final episode of this season of Stress Test, we look at data showing the surprising extent to which parents are going to help their adult kids financially, and how this assistance has become more common in the pandemic. We hear from a 26-year-old Torontonian who is relying on money from her parents to make ends meet amid the instability of the last year. Plus, Roma speaks to Natasha Knox, a Vancouver- based financial planner about the underground parental economy.

Read the transcript in English or French.

SHARE THE EPISODE:

S2 Episode 7 Retiring in your 30s: How some Canadians are making big changes to escape the workforce

Feeling beaten down by work? In this episode, we talk about young adults who crave financial independence and are willing to save and invest aggressively to gain that freedom. Rob and Roma discuss the practicality of the F.I.R.E. (Financial Independence, Retire Early) movement and why it looks more appealing than ever amid COVID-19. Plus, we hear from Kristy Shen and Bryce Leung, a 38-year-old couple that retired a few years ago early and have stayed financially independent, even in the pandemic.

Read the transcript in English or French.

Story continues below advertisement

SHARE THE EPISODE:

S2 Episode 6 Why it’s time to stop shaming the renting lifestyle

Do you feel you’re not really “adulting” unless you own your own place? Are you embarrassed to admit you’re still a renter? Rob and Roma take on the long-standing narrative that says property ownership is the best path for everyone and map out a route for financial success as a renter. We hear from a millennial who has found the loft of her dreams and has chosen to embrace renting for good. Plus, fellow renter and financial consultant Preet Banerjee shares his advice for how renters can end up with a comparable amount of wealth as a homeowner, in addition to a great lifestyle.

Read the transcript in English or French.

SHARE THE EPISODE:

S2 Episode 5 Personal finance resolutions for a pandemic year

Yeah, we know. New Year’s Resolutions have a bad rep. But what better time to reassess your financial health than in Year Two of a global pandemic? In this episode, Rob and Roma talk money goals and share some personal finance resolutions you might want to consider.

Read the transcript in English or French.

SHARE THE EPISODE:

S2 Episode 4 Eating in: How COVID-19 has shifted our food spending

When it comes to food, the pandemic has transformed our spending habits. But are we saving money? How have we replaced restaurant and bar spending? Are meal kits and online grocery shopping here to stay? In this episode, Rob and Roma dig into the world of food – and share what they’ve been doing differently over the last 9 months. Plus, an Ottawa-based 31-year-old tell us why she’s jumped on the food-box-trend. And Rob and Roma speak to Sylvain Charlebois, The Food Professor, about how our eating habits have shifted, why food prices will keep climbing and how Canadians can save money at the grocery store.

Read the transcript in English or French.

Story continues below advertisement

SHARE THE EPISODE:

S2 Episode 3 Why are young Canadians leaving the cities they love?

Has being in lockdown made your condo feel like a shoebox? Are you thinking about giving up on downtown living for more space in the suburbs? You’re not alone. In today’s episode, we look at the why some young adults are abandoning city living for smaller communities with lower house prices... and more space. We hear from a 34-year-old who left Toronto for a bigger home in southern Ontario’s wine country. Plus, Rob and Roma speak with Pascal Chan, a millennial who works at the Canadian Real Estate Association, about where people are moving, why and what you should think about if you’re considering doing the same.

SHARE THE EPISODE:

S2 Episode 2 Yes, you absolutely need to talk about money with your significant other (before you move in)

High rent and house prices have many young Canadians moving in together early to share costs. But what happens when one’s a spender and the other’s a saver? And what if one partner makes significantly more money, or has more debt? In this episode, Rob and Roma discuss how couples can avoid money blowouts. We hear from a 30-something Toronto-based lawyer who started dating his girlfriend during the pandemic. The couple is now looking at options for moving in together. Plus, Rob and Roma speak to Liz Schieck, a certified financial planner who has helped plenty of young couples navigate the pitfalls and challenges of joining their finances.

Read the transcript in English or French.

SHARE THE EPISODE:

S2 Episode 1 Everything you need to know about credit scores

Credit scores put the personal in personal finance. They’re your entire life as a borrower compressed into one number. But what qualifies as a “good” score, and why do these numbers bounce around all the time? What can be done to improve a bad score? Rob and Roma are back together (but apart) in their makeshift podcast studios (because, well, pandemic) for another season of your favourite personal finance podcast. In this episode they get answers to your credit score questions from Julie Kuzmic of Equifax Canada. Plus, we hear from Keith Emery, the co-CEO of Credit Canada Debt Solutions, about how people wind up with a bad credit score in the first place.

Read the transcript in English or French.

SHARE THE EPISODE:

S2 Episode 0 Stress Test, season two

Stress Test is back. Join The Globe’s personal finance team, columnist Rob Carrick and editor Roma Luciw, for another season of delving into the topics that impact the wallets of Canadians between the ages of 20 and 40. Listen to the trailer and season one now and subscribe to get season two in your feed.

Story continues below advertisement

SHARE THE EPISODE:

Season 1

S1 Episode 8 Should you move back in with your parents?

Should you move back in with your parents if it makes sense financially? In the last episode of this season, we talk to a 23-year-old who moved back home after COVID-19 left her jobless. Plus, we hear from Rob’s family about what it was like when his 26-year-old son Will moved back home. Rob and Roma revisit Rob’s book “How Not to Move Back in With Your Parents” 10 years later to see what’s changed.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 7 The cost of kids

Kids are incredibly cute - and incredibly expensive. Amid soaring housing costs and a precarious job market, how much does the cost of kids factor into your decisions about whether to have them? In this episode Rob and Roma discuss how much money they’ll really cost you. We hear from a 33-year-old mother about the hefty price tag of raising four kids. Plus, Roma speaks with money expert Melissa Leong about how to save and what to plan for when you’re deciding to start a family.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 6 Can you afford to live the downtown lifestyle?

Many young Canadians gravitate towards living in bigger cities, but can you afford it? In this episode, we hear from a group in their 30s that are living downtown Toronto – they even let Rob and Roma get a peek at their credit card statements. Plus, Rob talks to Bridget Casey, the millennial writer of personal-finance blog Money After Graduation, about how to effectively manage your money while also enjoying the type of lifestyle you want.

Read the transcript in English or French.

Story continues below advertisement

SHARE THE EPISODE:

S1 Episode 5 Does investing change during a pandemic?

So you want to be smart with your money and invest, but the stock market fluctuations during COVID-19 make it hard to know what to do. In this episode, Rob and Roma discuss the importance of investing and what’s changed since the pandemic. We hear from a 26-year-old at the beginning of his investing journey. Plus, Rob talks to Ben Felix, a millennial investment advisor about what other young Canadians should know when investing.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 4 How to crisis-proof your finances

Were your finances ready for a major disruption like COVID-19? In this episode, Rob and Roma discuss how to avoid common money mistakes. We hear from a 36-year-old whose service industry job in Whistler was wiped out by the pandemic. Plus, Roma talks to Vancouver–based financial advisor Julia Chung about everything from TFSAs and RRSPs to credit scores and the worst kinds of debt. If you’re looking for solid financial-planning strategies and information about the savings tools available, this episode is for you.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 3 What you should know before you buy a home

Real estate is always a hot topic, but the pandemic adds even more questions about how and when to buy. In this episode, Rob and Roma look at Canada’s obsession with housing. We hear from a millennial who bought a condo right before the coronavirus struck. Plus, Rob chats with John Pasalis, the founder of a Toronto-based real estate brokerage, about all your home-buying concerns.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 2 Why you got into debt, and how to get out

Even before the pandemic, debt was a huge problem for Canadians. Between massive mortgages, student loans, lines of credit and credit cards, a lot of us are struggling to pay what we owe and stressed about it. In this episode, Rob and Roma explore our strange relationship with debt and the factors that contribute to it. We hear from a millennial saddled by her debts, and her journey to find a way out. Plus, Roma speaks to Shannon Lee Simmons, a financial planner about tangible steps to manage debt.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 1 How to survive the gig economy

Everyone is being impacted by COVID-19, but gig workers are impacted on a whole other level. In the first episode of Stress Test, Rob and Roma speak to a gig worker about her experience looking for a job in her field and what happened when the pandemic hit. Rob speaks to Kathryn Mandelcorn, a certified money coach about her recommendations for gig workers to manage their finances in times of uncertainty. If you are a contract or freelance worker, this episode is for you.

Read the transcript in English or French.

SHARE THE EPISODE:

S1 Episode 0 Trailer: Stress Test

Introducing a new podcast from The Globe and Mail that delves into the topics impacting the wallets of Canadians between the ages of 20 and 40. Join The Globe’s personal finance team, columnist Rob Carrick and editor Roma Luciw, as they guide you through a period in which the basic rules of managing your money have been tested. Subscribe now to get it in your feed.

SHARE THE EPISODE:
Rob Carrick

Rob Carrick has been writing about personal finance, business and economics for 30 years. He joined The Globe and Mail in late 1996 and shortly afterward suggested the paper offer more coverage of personal finance. He’s been writing about investing and personal finance ever since. Rob’s personal finance column appears in The Globe twice weekly, and his Portfolio Strategy column for investors appears on alternating Saturdays. Rob also produces occasional videos and a twice-weekly e-mail newsletter called Carrick on Money. His first podcast, called The Retirementality, covered retirement issues for Gen Y, Gen X and boomers. Rob is the author or co-author of five books, the most recent of which is How Not to Move Back in With Your Parents: The Young Person's Complete Guide to Financial Empowerment.

Roma Luciw

Roma Luciw has been The Globe’s personal finance editor for over 10 years –steering coverage of anything that helps Canadians manage their money, from managing debt loads and investing to mortgages and saving for retirement. In 2015, Roma steered the launch of the Gen Y money hub, which won an international EPPY award for excellence in digital journalism. She is passionate about financial literacy, especially among young people, and has with her colleague Rob Carrick, travelled to university and college campuses across the country, hoping to arm today’s young people with the tools they need to make smart financial decisions.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Comments are closed

We have closed comments on this story for legal reasons or for abuse. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies