#331. Dad, what is status anxiety?
It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.
Financial Freedom
#300. Dad, what is the definition of frugal?
Simply being thoughtful about your purchases.
#289. Dad, tell me about judgment.
No matter what you do or say, you will be judged. So, why not be true yourself.
#266. Dad, tell me about financial discipline.
Financial discipline fosters character traits like self control, prudence, and patience.
#255. Dad, how old are the principles of personal finance?
The principles of personal finance have not changed for 3000 years. That is why it is so easy to understand and apply.
#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.
#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.
#193. Dad, are smart people financially wealthy?
DAD: There is no correlation between high levels of intelligence and high levels of financial wealth.
#182. Dad, should I finance my used car?
DAD: Don’t finance things that go down in value
#165. Dad, I feel I don’t earn enough money to be wealthy.
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.
#150. Dad, what is passive income?
Passive income is income you earn while you are doing something else.
#148. Dad, why is personal finance not a topic of discussion at the dinner table?
DAD: Most people are afraid to speak about personal finance because they are not comfortable speaking about something they know very little about.
#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
#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.
#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
#35. Dad, what does it mean to have a healthy relationship with money?
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?
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.
#13. Dad, what is lifestyle inflation?
Lifestyle inflation is when you keep increasing your lifestyle as your income grows. That is why so many wealthy people are in debt. Beware of […]