This article exists as part of the online archive for HuffPost Canada, which closed in 2021.

'Dragons' Den's' Manjit Minhas Knows What's Causing Your Financial Woes

“Feeling like you deserve something is different than needing something.”

Manjit Minhas may spend her days investing in start-ups on "Dragon's Den," but when she isn't shelling out big bucks for companies, the CEO of Minhas Breweries & Distillery has a message for Canadians: stop impulse buying.

“What you spend today can determine how you live in the future,” says Minhas.

It's a tip Canadians could take to heart ahead of the holiday shopping season.

A November report from Statistics Canada found consumers owed $1.65 in credit market debt — that's consumer debt, mortgage and non-mortgage loans — for every dollar of disposable income. And while it's never been easier to spend money you don't make thanks to record-low interest rates, Minhas says it's best to resist the temptation.

Minhas suggests a two-pronged approach to spending for big-ticket items and small purchases in the video above. It just might make your paycheque last longer.

And for more helpful tidbits of financial advice, check out more episodes of 2 Minutes To Transform

Also on HuffPost

Get It Automated

Top Money Saving Tips

Close
This article exists as part of the online archive for HuffPost Canada. Certain site features have been disabled. If you have questions or concerns, please check our FAQ or contact support@huffpost.com.