What you drive and where you live has absolutely nothing to do with your wealth.
No matter what you do or say, you will be judged. So, why not be true yourself.
Debt feels like having to run 10 miles to get to the starting line of a marathon. It is impossible to get ahead.
DAD: The things that make life great can’t be bought. Money can only help extend your options.
DAD: Any time you are about to spend money, count to ten slowly and consider how this purchase may impact your life.
DAD: This method helps you to pay off debts with the smallest amount owed first.
DAD: On the contrary, spending less brings more joy.
DAD: Don’t finance things that go down in value
DAD: Learn to exercise self control and delay purchases until you can pay in full with cash.
There are no guarantees. Make sure you spend less than you earn and save for the future.
DAD: Canadian households owe a $1.71 for every dollar they earn. Scary.
Be mindful of how you spend money
The level of consumer debt in Canada has been increasing for the past 30 years. Households owe more than $2 trillion dollars collectively.
DAD: Just get started.
DAD: Assess the damage. Understand the root cause. Change your habits today
Pick a goal. Create a separate account to save for the goal. Start saving for that goal.
Learning to budget, spend mindfully, and find a balance between seizing the day and saving for the future
Sacrifice does not mean giving up something for nothing; it means giving up one thing for something else we believe is worth more.
DAD: Most people who overspend their income in one of three ways: Too much house, Too much car, Too much entertainment
Tackle smaller balances first. This builds momentum and there are psychological reward to doing it this way.
When you develop a healthy relationship with money, you don’t spend money on needless stuff.