Ask Dad
  • Dad Questions
  • About
  • Subscribe

Debt

#362. Dad, what is the avocado toast problem?

October 2, 2020 Dad 0

Avocado toast is not the problem. It is about unnecessary expenses that prevent us from achieving our financial goals. 

#331. Dad, what is status anxiety?

April 7, 2020 Dad 0

It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.

#317. Dad, is it OK to shop on Boxing day?

December 26, 2019 Dad 0

Yes, as long as you temper your spending and don’t go into debt.

#304. Dad, my finances are a mess.

December 10, 2019 Dad 0

Congratulations! You have taken the first step to acknowledging that you have a problem. The rest can be managed with a plan. Dad, My Finances […]

#302. Dad, is it OK to buy inexpensive stuff?

December 8, 2019 Dad 0

Justifying purchases with a low sticker price is faulty logic. Eventually, our stuff will get the last laugh with the silent stress of a cluttered […]

#291. Dad, does your car or house determine how wealthy you are?

November 17, 2019 Dad 0

What you drive and where you live has absolutely nothing to do with your wealth.

#289. Dad, tell me about judgment.

November 15, 2019 Dad 0

No matter what you do or say, you will be judged. So, why not be true yourself.

#248. Dad, what does it feel like to be in debt?

October 5, 2019 Dad 0

Debt feels like having to run 10 miles to get to the starting line of a marathon. It is impossible to get ahead.

#212. Dad, can money buy a great life?

July 31, 2019 Dad 0

DAD: The things that make life great can’t be bought. Money can only help extend your options.

#207. Dad, what is the “ten second” rule?

July 26, 2019 Dad 0

DAD: Any time you are about to spend money, count to ten slowly and consider how this purchase may impact your life.

#203. Dad, what is the debt snowball method?

July 22, 2019 Dad 0

DAD: This method helps you to pay off debts with the smallest amount owed first.

#185. Dad, does spending less equate to less joy?

July 4, 2019 Dad 0

On the contrary, spending less brings more joy.

#182. Dad, should I finance my used car?

July 1, 2019 Dad 0

Don’t finance things that go down in value

#168. Dad, how can I avoid the payment syndrome?

June 17, 2019 Dad 0

Learn to exercise self-control and delay purchases until you can pay in full, with cash.

#165. Dad, I feel I don’t earn enough money to be wealthy.

June 14, 2019 Dad 0

How much you earn does not determine your ability to build wealth. The first step to building wealth is to spend less than you earn.

#129. Dad, is a high income a guarantee that you will retire rich?

May 8, 2019 Dad 0

There are no guarantees. Make sure you spend less than you earn and save for the future.

#128. Dad, how much debt do Canadian households owe ?

May 7, 2019 Dad 0

Canadian households owe $1.71 for every dollar they earn. Scary.

#120. Dad, I don’t have time to understand my personal finances.

April 30, 2019 Dad 0

What I’m hearing is that “I don’t want to make the time.” If it’s important to you then you will find the time.

#110. Dad, give me money advice in ten words or less.

April 20, 2019 Dad 0

Be mindful of how you spend money

No Image

#105. Dad, what is the “30-day rule!”

April 15, 2019 Dad 0

When making large purchases, use this rule to decide whether the item is a need or a want.  

#99. Dad, what is the frivolous purchase threshold?

April 9, 2019 Dad 0

If you ever wonder where your money went to at the end of the month, it is probably hidden in frivolous trinkets that you didn’t […]

#97. What is #3 rule of money?

April 7, 2019 Dad 0

Pay your credit card balance in full every month.

#92. Dad, how much debt do Canadian households owe?

April 2, 2019 Dad 0

The level of consumer debt in Canada has been increasing for the past 30 years. Canadian households owe more than $2 trillion dollars collectively.

#89. Dad, do you have advice about getting out of debt?

March 30, 2019 Dad 0

Just get started.

No Image

#85. Dad, what are the main financial challenges facing Millennials?

March 26, 2019 Dad 0

Most Millennials are weighed down by student debt, the high cost of housing and bleak career prospects.

#84. Dad, what are the 3 steps to get out of debt?

March 25, 2019 Dad 0

Assess the damage. Understand the root cause. Change your habits.

#65. Dad, is the goal to reduce debt?

March 6, 2019 Dad 0

Debt is not a goal. Debt is what is standing in the way.

#58. Dad, how do most adults rate their financial literacy skills?

February 27, 2019 Dad 0

More than 60% of adults rate their financial knowledge as “fair” or “poor”.

#55. Dad, why is it so awkward to talk about money when you are in a relationship?

February 24, 2019 Dad 0

It is awkward, but necessary, to talk about money with your loved ones. I suggest you speak often, keep the conversation light and understand your […]

#50. Dad, how do I save for short-term goals?

February 19, 2019 Dad 0

Pick a goal. Create a separate account to save for the goal. Start saving for that goal.

#49. Dad, what exactly does personal finance mean?

February 18, 2019 Dad 0

Learning to budget, spend mindfully, and find a balance between seizing the day and saving for the future

#47. Dad, does getting out of debt mean you have to sacrifice everything?

February 16, 2019 Dad 0

Sacrifice does not mean giving up something for nothing; it means giving up one thing for something else we believe is worth more. 

#44. Dad, when do most people over spend their income?

February 13, 2019 Dad 0

DAD: Most people who overspend their income in one of three ways: Too much house, Too much car, Too much entertainment

#41. Dad, should I repay the highest interest rate debt first?

February 10, 2019 Dad 0

Tackle smaller balances first. This builds momentum and there are psychological reward to doing it this way.

#36. Dad, tell me why holiday traditions are so financially stressful?

February 5, 2019 Dad 0

We don’t have to continue holiday traditions that leave us overwhelmed, broke and tired. Traditions should not detract from the season, they should elevate it. […]

#35. Dad, what does it mean to have a healthy relationship with money?

February 4, 2019 Dad 0

When you develop a healthy relationship with money, you don’t spend money on needless stuff.

#34. Dad, what is the difference between a want and a need?

February 3, 2019 Dad 0

A need is something you have to have. A want is a choice.

#31. Dad, may I buy anything I desire?

January 31, 2019 Dad 0

Yes. You can buy anything you desire – as long as you have saved for it first. 

Dad, what is delayed gratification?

#28. Dad, what is delayed gratification?

January 28, 2019 Dad 0

Giving up temptation for long term benefit.

#26. Dad, is the goal financial independence?

January 26, 2019 Dad 0

It is important to recognize that your financial situation should be a side effect of pursuing a greater purpose. Financial independence is not your aim; […]

Posts navigation

1 2 »

Get Ask Dad in Your Inbox

Categories

  • Accountability
  • BLOG
  • Character
  • Courage
  • Covid19
  • Credit Card
  • Debt
  • Decisions
  • Delayed Gratification
  • Empathy
  • Entrepreneurship
  • Fear
  • Financial Freedom
  • Generosity
  • Gratitude
  • Habits
  • Happiness
  • Humble
  • Kindness
  • Leadership
  • Life Advice
  • Lifestyle
  • Love
  • Minimalism
  • Money
  • Motivation
  • Passion
  • Peace
  • Purpose
  • Resilience
  • Risk
  • Self Esteem
  • Simplicity
  • Spending
  • Success
  • Talent
  • Time
  • Values
  • Wisdom
  • YOLO
  • mental clutter

    #393. Dad, what is mental clutter?

    February 1, 2023 0
  • burn your boat

    #389. Dad, what does it mean to ” burn your boat?”

    February 21, 2022 0
  • productivity Guilt

    #388. Dad, what is “productivity guilt?”

    February 20, 2022 0
  • #384. Dad, why do we get bored?

    November 13, 2020 0
  • #379. Dad, starting my business is a slow process. I want to quit.

    November 2, 2020 0
Ask Dad Dot Life

Copyright © 2023 | WordPress Theme by MH Themes