#389. Dad, what does it mean to ” burn your boat?”
Burning your boat is an act of courage that makes it impossible to return to an earlier situation.
Delayed Gratification
#385. Dad, what does “eat the frog” mean?
“Eat the frog” is a metaphor for tackling your most challenging tasks of the day – the ones you are most likely to procrastinate on. […]
#332. Dad, what does “living slow” mean?
Living slow means listening to your body and giving it the rest it deserves. It means refusing to reach a level of exhaustion.
#331. Dad, what is status anxiety?
It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.
#328. Dad, what is Sitzfleisch ( sit-flesh)?
In German, if someone ‘has a lot of Sitzfleisch’, it means they can endure lengthy or boring tasks until the tasks are completed.
#298. Dad, why can I always not get what I want?
Sometimes not getting what you want is a wonderful stroke of luck.
#271. Dad, what is Karma?
Is it true that the universe restores moral order by rewarding and punishing people based on their past actions? Karma: Do we Really Reap What […]
#266. Dad, tell me about financial discipline.
Financial discipline fosters character traits like self control, prudence, and patience.
#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.
#237. Dad, it is so tempting to buy stuff
DAD: Advertisers trick you into wanting stuff. Ignore the noise.
#214. Dad, some days are so hard
DAD: Your track record for getting through hard days is 100% so far.
#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.
#211. Dad, what is a “reverse bucket list?”
DAD: A “reverse bucket list” reminds you of what you have already done and makes you feel inspired instead of overwhelmed.
#190. Dad, sometimes I take the easy way out
Whenever you take the easy way in favour of what’s right, you slowly destroy your character.
#151. Dad, do you always do things that make you happy?
Sometimes you forced to do unpleasant things in order to make you happy later. That is called sacrifice.
#145. Dad, what is a moonshot?
A moonshot is a big goal. It is a long-term endeavour with the hope of success, but also the awareness that not every outcome lies within our control.
#136. Dad, what does it mean to be resourceful?
It means being creative, rebellious, determined, and unstoppable. It means asking for help, but not waiting for help.
#128. Dad, how much debt do Canadian households owe ?
Canadian households owe $1.71 for every dollar they earn. Scary.
#105. Dad, what is the “30-day rule!”
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?
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 […]
#91. Dad, what is a credit card?
A credit card is money that does not belong to you. It is not free, and the longer you take to pay it off, the […]
#87. Dad, what is a financially mature adult?
Somebody who has insight into the possible consequences of money decisions and the impact on their family and long term financial freedom.
#84. Dad, what are the 3 steps to get out of debt?
Assess the damage. Understand the root cause. Change your habits.
#73. Dad, what is progress?
Progress is about getting better every day. Success comes after that.
#56. Dad, what is the quote from the movie “Fight Club” you mention when speaking about materialism?
“The things you own end up owning you”. Materialism, by and large, is a psychological trap. No matter how much you own, how much you […]
#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
#34. Dad, what is the difference between a want and a need?
A need is something you have to have. A want is a choice.
#32. Dad, what is “Black Friday”
Sadly, “Black Friday” is the day we trample people for things we don’t need, the day after being thankful for what we have.
#28. Dad, what is delayed gratification?
Giving up temptation for long term benefit.
#25. Dad, what is the key to early retirement?
The key to early retirement lies with savings, not income – regardless of how much money you make.