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Plain English Finance
Tré Bynoe CFP®, CIM®
25 episodes
1 day ago
Should you incorporate your business, or stick with a sole proprietorship? In this episode, Tré and Sierra unpack what a corporation really is, how it works, and why it’s one of the most powerful wealth-building tools available to Canadians. Tré explains the real advantages—legal protection, tax efficiency, and control over income timing—while also calling out the pitfalls that sink small business owners who treat their corporations like personal piggy banks. Whether you’re a freelancer, prof...
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Investing
Business
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All content for Plain English Finance is the property of Tré Bynoe CFP®, CIM® and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Should you incorporate your business, or stick with a sole proprietorship? In this episode, Tré and Sierra unpack what a corporation really is, how it works, and why it’s one of the most powerful wealth-building tools available to Canadians. Tré explains the real advantages—legal protection, tax efficiency, and control over income timing—while also calling out the pitfalls that sink small business owners who treat their corporations like personal piggy banks. Whether you’re a freelancer, prof...
Show more...
Investing
Business
Episodes (20/25)
Plain English Finance
Ep. 24 | Should You Incorporate? What Canadians Should Know
Should you incorporate your business, or stick with a sole proprietorship? In this episode, Tré and Sierra unpack what a corporation really is, how it works, and why it’s one of the most powerful wealth-building tools available to Canadians. Tré explains the real advantages—legal protection, tax efficiency, and control over income timing—while also calling out the pitfalls that sink small business owners who treat their corporations like personal piggy banks. Whether you’re a freelancer, prof...
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1 day ago
42 minutes

Plain English Finance
Ep. 23 | The Real Purpose of Insurance
Most people think insurance is for “what if I die?” scenarios—but that’s not the real risk. In this episode, Tré and Sierra break down how smart families and business owners actually manage risk. From life insurance to disability and liability coverage, Tré explains how to identify what’s truly at stake—your ability to earn, live, and protect your family’s future—and how to match your coverage to your real financial needs. You’ll learn the difference between guessing and planning, and why ove...
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1 week ago
49 minutes

Plain English Finance
Ep. 22 | Buy Now, Regret Later.
“Buy now, pay later” sounds harmless. Four easy payments, no interest, and you’re done. But in this episode, Tré and Sierra Bynoe break down why services like Klarna are anything but free. They uncover how BNPL programs encourage overspending, trap users in hidden fees, and target the most financially vulnerable. From financing groceries to making payments on a coffee, this trend is reshaping how young Canadians use debt—and not for the better. Tré explains why “borrowing from your future sel...
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2 weeks ago
31 minutes

Plain English Finance
Ep. 21 | The Right Way to Use Your TFSA
“Tax-Free Savings Account” is a bad name. It’s an investment account, not a savings jar. In this episode, Tré explains what the TFSA really is, how to use it properly, and how it fits with your RRSP. You’ll learn the real contribution rules (including why withdrawals don’t reset until January 1), why TFSA room is more valuable than a one-time tax break, and the estate move that can add six figures of lifelong tax-free space for your spouse. You’ll learn TFSA vs RRSP—what actually differ...
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3 weeks ago
36 minutes

Plain English Finance
Ep. 20 | Compounding, Inflation, and Stock Splits — Made Simple
Want a $40,000 car but only pay $10K out of pocket? That’s the power of understanding time, interest, and inflation. In this episode, Tré and Sierra are joined by his in-laws to break down the basics of financial math using an online calculator and show how these “boring” numbers can radically change your financial future. This real conversation about how money grows, why debt costs more than you think, and how to use tools that anyone can access will give you an inside look into conversation...
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4 weeks ago
41 minutes

Plain English Finance
Ep. 19 | How to Leave Money to Your Kids Without Screwing Them Up
Most wills don’t plan for reality. They ignore messy family dynamics, future kids, or the financial chaos that hits when parents die unexpectedly. In this episode, Tré Bynoe, CFP, CIM, shares how he and his wife structured their own estate plan — trusts, wills, tax strategy, and all — with ruthless clarity and long-term thinking. This is what real estate planning looks like when you understand the stakes and want your family protected without enabling financial disaster. You’ll learn: Why mos...
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1 month ago
29 minutes

Plain English Finance
Ep. 18 | Why RRSPs Are Overrated (Unless You Know What You’re Doing)
Most Canadians treat RRSPs like a retirement silver bullet, and most are using them wrong. In this episode, Tré explains why Registered Retirement Savings Plans (RRSPs) are powerful tools only when used strategically. He breaks down what RRSPs actually are, how they affect your taxes, and why the way most people use them could hurt their retirement. This episode is essential if you’ve ever contributed just to get a tax refund — or if no one’s explained what happens when you take the money out...
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1 month ago
43 minutes

Plain English Finance
Ep. 17 | How to Give More to Charity and Pay Less Tax
Want to support a cause and cut your tax bill? This episode is for you. Tré explains how to give to charity in a smarter, more tax-efficient way — without spending more out of pocket. Whether you're tithing, giving to local rescues, or donating to major organizations, there’s a better way than cash or cheques. The key? Donating appreciated investments. You’ll learn: Why giving securities instead of cash saves you taxHow to turn capital gains into tax-free donationsThe role of CanadaHelps and ...
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1 month ago
24 minutes

Plain English Finance
Ep. 16 | Why Most Canadians Miss Out on Free Money Through RDSPs
https://www.rdsp.com/calculator/ - Link Most Canadians eligible for the RDSP have never opened one. That’s a costly mistake. In this episode, Tré breaks down why the Registered Disability Savings Plan is one of the most powerful but underused tools available to Canadians with disabilities. If you or someone you care about qualifies for the Disability Tax Credit, this account could be life-changing. Even with zero personal contributions, low-income Canadians can receive up to $20,000 from the ...
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1 month ago
27 minutes

Plain English Finance
Ep. 15 | How Tré Invests — And What Most Investors Get Wrong
Most Canadians think investing is about picking the right stock, timing the markets, or chasing returns. It’s not. In this episode, Tré breaks down exactly how he manages his own investment portfolio, and why simplicity, tax-efficiency, and a clear philosophy matter far more than hot tips or flashy products. If you're a DIY investor, a skeptical professional, or someone overwhelmed by jargon, this episode will ground you in what actually works. You’ll learn: Why Tré uses low-cost, globally di...
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2 months ago
1 hour

Plain English Finance
Ep. 14 | Budgeting on $400K+: Why High Income Doesn’t Equal Wealth
Earning over $400,000 a year puts you in a privileged position, but it also comes with bigger decisions, bigger risks, and bigger tax bills. In this episode, Tré breaks down how high earners can avoid the most common financial pitfalls and finally shift from focusing on income to building lasting wealth. This episode is for professionals, business owners, and executives who are in—or approaching—high-income territory and want to avoid lifestyle creep, inefficient tax planning, and financial r...
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2 months ago
41 minutes

Plain English Finance
Ep. 13 | How to Set Up a Cashflow System That Actually Works
Most people “budget” by looking backward at what they’ve spent. That's reactive. In this episode, Tré walks through the exact system he and his family use to manage their money proactively — with multiple accounts, a clear spending structure, and zero guilt. Whether you’re a couple or managing solo, this framework gives you total control without obsessing over receipts. You’ll learn: Why tracking expenses is backward, and what to do insteadHow to set up your accounts for true financial clarit...
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2 months ago
41 minutes

Plain English Finance
Ep. 12 | Why a 100% Equity Portfolio Could Be Your Best Bet
Send us a text Investing Simulator: https://buildyourstax.com/ Most people think bonds are “safe” and stocks are “risky.” But what if that’s exactly backward, especially over the long term? In this episode, Tré breaks down the real meaning of asset allocation and why traditional advice like “add more bonds as you age” may be setting you up for failure. Backed by research, Tré explains why a 100% equity portfolio often leads to the best outcomes — and how to know if it’s right for you. You’ll ...
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2 months ago
47 minutes

Plain English Finance
Ep. 11 | Should You Invest or Pay Down Debt? Here's What the Numbers Say
Send us a text If you’re torn between paying off your mortgage or investing, you’re not alone, and there’s a lot of bad advice out there. This episode breaks it down with facts, not feelings. Tré uses real planning software to run side-by-side comparisons and shows why—mathematically—investing often comes out ahead. But psychology, discipline, and risk tolerance matter just as much. Whether you're holding low-interest debt or still paying off your credit cards, this episode will help you choo...
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3 months ago
38 minutes

Plain English Finance
Ep. 10 | The Middle-Class Trap — How Households Earning $100K–$200K Fall Behind
Send us a text Earning six figures used to mean financial security. Now? That mindset could be a trap. In this episode, Tré tackles the hidden risks for Canadian households earning between $100,000 and $200,000. This range feels comfortable, but it’s where lifestyle inflation, car loans, and poor planning quietly eat away at your financial future. Tré offers a practical, no-fluff guide to budgeting, systematizing cash flow, and staying on track. You’ll learn: Why $150K/year isn’t the safety n...
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3 months ago
41 minutes

Plain English Finance
Ep. 9 | Tax-Efficient Debt: How the Right Structure Can Save You Thousands
Send us a text Most Canadians treat debt as a burden and taxes as a given. But what if you could flip that thinking and turn your debt into a tax advantage? In this episode, Tré breaks down how to structure debt so the interest becomes tax-deductible. He outlines strategies that can save you tens of thousands over time, especially if you’re a business owner, landlord, or hold non-registered investments. You’ll learn: Why minimizing tax over your lifetime beats avoiding a tax bill todayHow to ...
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3 months ago
26 minutes

Plain English Finance
Ep. 8 | High-Income Budgeting: How $200K+ Earners Can Start Building Wealth
Send us a text Are you earning over $200,000 but still feeling like your money disappears too fast? In this episode, we dig into budgeting for high-income earners and why earning more doesn’t always mean building wealth. We explore key behavioural differences between natural savers and spenders — and the blind spots both groups have when it comes to money management. You’ll learn how to stop relying on unpredictable income like commissions and bonuses to make progress and instead build a syst...
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3 months ago
46 minutes

Plain English Finance
BONUS | Q2 2025 Review
Send us a text What Really Drove Market Gains in Q2? (Hint: It's Not What You Think) Markets bounced back in Q2—but it’s not all good news. In this bonus quarterly review episode, Tre breaks down what’s behind the recent returns and why short-term market moves can be misleading. You’ll learn what drove gains (like multiple expansion and currency), why the April drop didn’t show up on your statement, and why Canadian investors might be in better shape than they think. If you’re sitting on cash...
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3 months ago
23 minutes

Plain English Finance
Ep. 7 | What Is Money, Really?
Send us a text Most people think of money as cash in the bank. But in this episode, Tre unpacks a bolder truth: money is just a middleman for value. Joined by his wife Sierra, Tre explains why viewing money as value—rather than currency—can change how you spend, save, and invest. This isn’t your usual budgeting talk. It’s a direct conversation about how our financial system works, why inflation erodes your purchasing power, and how to make smarter decisions with the money you earn. In this ep...
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4 months ago
29 minutes

Plain English Finance
Ep. 6 | Why You Should Track Your Net Worth
Send us a text Ever wondered why tracking your net worth is essential for your financial health? In this episode, we break down exactly what net worth means, clearly defining your assets and liabilities. We'll explore practical reasons why regularly monitoring your net worth can significantly enhance your financial decision-making, confidence, and goal-setting. Plus, we provide a simple, step-by-step calculation (linked below) to empower you to easily determine your own net worth today. Key p...
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4 months ago
19 minutes

Plain English Finance
Should you incorporate your business, or stick with a sole proprietorship? In this episode, Tré and Sierra unpack what a corporation really is, how it works, and why it’s one of the most powerful wealth-building tools available to Canadians. Tré explains the real advantages—legal protection, tax efficiency, and control over income timing—while also calling out the pitfalls that sink small business owners who treat their corporations like personal piggy banks. Whether you’re a freelancer, prof...