#331. Dad, what is status anxiety?
It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.
Debt
#317. Dad, is it OK to shop on Boxing day?
Yes, as long as you temper your spending and don’t go into debt.
#304. Dad, my finances are a mess.
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?
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?
What you drive and where you live has absolutely nothing to do with your wealth.
#289. Dad, tell me about judgment.
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?
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?
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?
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?
DAD: This method helps you to pay off debts with the smallest amount owed first.
#185. Dad, does spending less equate to less joy?
DAD: On the contrary, spending less brings more joy.
#182. Dad, should I finance my used car?
DAD: Don’t finance things that go down in value
#168. Dad, how can I avoid the payment syndrome?
DAD: Learn to exercise self control and delay purchases until you can pay in full with cash.
#129. Dad, is a high income a guarantee that you will retire rich?
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 ?
DAD: Canadian households owe a $1.71 for every dollar they earn. Scary.
#110. Dad, give me money advice in ten words or less.
Be mindful of how you spend money
#99. Dad, what is the frivolous purchase threshold?
DAD: If you ever wonder where your money went to at the end of the month, it is probably hidden in frivolous trinkets that you […]
#92. Dad, how much debt do Canadian households owe?
The level of consumer debt in Canada has been increasing for the past 30 years. Households owe more than $2 trillion dollars collectively.
#89. Dad, do you have advice about getting out of debt?
DAD: Just get started.
#84. Dad, what are the 3 steps to get out of debt?
DAD: Assess the damage. Understand the root cause. Change your habits today
#50. Dad, how do I save for short-term goals?
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?
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?
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?
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?
Tackle smaller balances first. This builds momentum and there are psychological reward to doing it this way.