Avocado toast is not the problem. It is about unnecessary expenses that prevent us from achieving our financial goals.
It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.
Yes, as long as you temper your spending and don’t go into debt.
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.
On the contrary, spending less brings more joy.
Don’t finance things that go down in value
Learn to exercise self-control and delay purchases until you can pay in full, with cash.
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.
There are no guarantees. Make sure you spend less than you earn and save for the future.
Canadian households owe $1.71 for every dollar they earn. Scary.
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.
Be mindful of how you spend money
When making large purchases, use this rule to decide whether the item is a need or a want.
Pay your credit card balance in full every month.
The level of consumer debt in Canada has been increasing for the past 30 years. Canadian households owe more than $2 trillion dollars collectively.
Just get started.
Most Millennials are weighed down by student debt, the high cost of housing and bleak career prospects.
Assess the damage. Understand the root cause. Change your habits.
Debt is not a goal. Debt is what is standing in the way.
More than 60% of adults rate their financial knowledge as “fair” or “poor”.
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.
A need is something you have to have. A want is a choice.
Yes. You can buy anything you desire – as long as you have saved for it first.
Giving up temptation for long term benefit.