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Financial Freedom

#331. Dad, what is status anxiety?

April 7, 2020 Dad 0

It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.

#300. Dad, what is the definition of frugal?

November 26, 2019 Dad 0

Simply being thoughtful about your purchases.

#289. Dad, tell me about judgment.

November 15, 2019 Dad 0

No matter what you do or say, you will be judged. So, why not be true yourself.

#266. Dad, tell me about financial discipline.

October 23, 2019 Dad 0

Financial discipline fosters character traits like self control, prudence, and patience.

#255. Dad, how old are the principles of personal finance?

October 13, 2019 Dad 0

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?

October 5, 2019 Dad 0

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?

July 26, 2019 Dad 0

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?

July 22, 2019 Dad 0

DAD: This method helps you to pay off debts with the smallest amount owed first.

#193. Dad, are smart people financially wealthy?

July 12, 2019 Dad 0

There is no correlation between high levels of intelligence and high levels of financial wealth.

#182. Dad, should I finance my used car?

July 1, 2019 Dad 0

Don’t finance things that go down in value

#165. Dad, I feel I don’t earn enough money to be wealthy.

June 14, 2019 Dad 0

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?

May 29, 2019 Dad 0

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?

May 27, 2019 Dad 0

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 ?

May 7, 2019 Dad 0

Canadian households owe $1.71 for every dollar they earn. Scary.

#120. Dad, I don’t have time to understand my personal finances.

April 30, 2019 Dad 0

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.

#110. Dad, give me money advice in ten words or less.

April 20, 2019 Dad 0

Be mindful of how you spend money

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#105. Dad, what is the “30-day rule!”

April 15, 2019 Dad 0

When making large purchases, use this rule to decide whether the item is a need or a want.  

#89. Dad, do you have advice about getting out of debt?

March 30, 2019 Dad 0

Just get started.

#87. Dad, what is a financially mature adult?

March 28, 2019 Dad 0

Somebody who has insight into the possible consequences of money decisions and the impact on their family and long term financial freedom.

#69. Dad, does having a budget mean no fun and all work.

March 10, 2019 Dad 0

Definitely not. A budget is a plan, so you can enjoy your favourite things responsibly.

#58. Dad, how do most adults rate their financial literacy skills?

February 27, 2019 Dad 0

More than 60% of adults rate their financial knowledge as “fair” or “poor”.

#55. Dad, why is it so awkward to talk about money when you are in a relationship?

February 24, 2019 Dad 0

It is awkward, but necessary, to talk about money with your loved ones. I suggest you speak often, keep the conversation light and understand your […]

#54. Dad, tell me about being good with money and spending.

February 23, 2019 Dad 0

Being good at money does not mean you don’t spend it; and not spending it does not make you good with money.

#50. Dad, how do I save for short-term goals?

February 19, 2019 Dad 0

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?

February 18, 2019 Dad 0

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?

February 4, 2019 Dad 0

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?

February 3, 2019 Dad 0

A need is something you have to have. A want is a choice.

#32. Dad, what is “Black Friday”

February 1, 2019 Dad 0

Sadly, “Black Friday” is the day we trample people for things we don’t need, the day after being thankful for what we have.

#26. Dad, is the goal financial independence?

January 26, 2019 Dad 0

It is important to recognize that your financial situation should be a side effect of pursuing a greater purpose. Financial independence is not your aim; […]

#25. Dad, what is the key to early retirement?

January 25, 2019 Dad 0

The key to early retirement lies with savings, not income – regardless of how much money you make.

#13. Dad, what is lifestyle inflation?

January 13, 2019 Dad 0

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 […]

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  • burn your boat

    #389. Burning your boat is an act of courage that makes it impossible to return to an earlier situation.

    February 21, 2022 0
  • productivity Guilt

    #388. Productivity guilt is the nagging feeling that you are not creating, achieving or working hard enough. 

    February 20, 2022 0
  • #384. We get bored because we fail to see the beauty in the mundane. We forget to appreciate the simple things in life, and we forget how to spend time with our thoughts. 

    November 13, 2020 0
  • #379. Dad, starting my business is a slow process. I want to quit.

    November 2, 2020 0
  • #376. Dad, how do our thoughts change our mood?

    October 28, 2020 0
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