Red, white and rosés wines were flowing along with Mogo’s tips on money at the Vancouver Urban Winery. Here’s our recap of the Adulting 101 Event earlier this March in Vancouver.
Money and wine, two subjects that have a vast range of topics that one can choose to talk about. With that many options, it does get overwhelming on where to start, doesn’t it? It’s time to disrupt spending and debt, in-between a few glasses of vino.
With wines, were were guided with David and Lisa with a round of white wines, red wines and rosés, teaching us how to analyze and taste the wines. We looked at the colours, sniffed for the aromas and searched for tasting notes as we drank away. It was really interesting to take a vote for different pairs of wines to see who guessed which wine was cheaper and more expensive.
In between the rounds of tastings, Chantel of Mogo asked Adulting 101 trivia questions about money. She shared a lot of fun, real life stories and tips about credit scores, credit interest, overspending with your credit card, tips on cleaning up your credit as quickly as possible, saving and budgeting. Over wine, with many of us loosened up, we were chuckling and having a good time learning about a subject that usually most of us shy away from at parties.
My favourite tips included:
- Keep your credit score healthy by paying on time and paying more than the minimum required (or just paying off your balance asap).
- If you want to work on fixing your credit score faster, if you have collection payments due, go pay those off first.
- The parking tickets in the City of Vancouver are purposely over $100 because if they are not paid on time, they can send them off to collections, thus these may affect your credit score.
- If you have credit card debt, make sure you get rid of that first before you save and invest.
- Budget and save so you know you are living below your means (ie: Spend less than what you make monthly).
- Don’t forget to set aside some fun money while taking care of your other expenses.
- At the end of the day, be mindful of all your actions, especially with your money.