Reni Odetoyinbo on why you should pay yourself first and have multiple streams of income 

Odetoyinbo quit her full-time marketing job at a Big Six bank a year later, after she realized she was making an impact in the personal finance world. “There wasn’t much representation of Black Canadian women in the space,” says Odetoyinbo, who is based in Toronto. 

In 2022, she launched the #ReniReturnsChallenge, an online accountability group, to help her followers stick to their financial plans. The group’s 100 members collectively saved $935,000 over one year and made a sizeable dent in their debts. If you have #moneygoals of your own, read Odetoyinbo’s investing, budgeting and saving tips. 

Who are your financial heroes?

My financial hero is my dad. He started teaching me about money when I was only four years old. He taught me how to invest from the age of 18. My parents gave me a financial leg up by educating me from such an early age, and I will be forever grateful.

What is your money philosophy? 

My money philosophy is to pay yourself first. This means putting your money towards your goals, like saving and investing, before anything else. It has benefited me immensely.

What’s your next money goal?

I’d love to reach a point where I can have a work-optional life. Where my investments are comfortably funding my life.

What is something you “treat yourself” to, that you don’t mind splurging on?

I will always treat myself to a nice vacation or a good meal! The limits do not exist when it comes to those two things.

What is your favourite possession?

My passport. So far I’ve been to 34 countries, and I hope to go to many more.