It is the constant fear of being perceived as “unsuccessful” by society in terms of material wealth.
Simply being thoughtful about your purchases.
No matter what you do or say, you will be judged. So, why not be true yourself.
Financial discipline fosters character traits like self control, prudence, and patience.
The principles of personal finance have not changed for 3000 years. That is why it is so easy to understand and apply.
Debt feels like having to run 10 miles to get to the starting line of a marathon. It is impossible to get ahead.
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.
DAD: There is no correlation between high levels of intelligence and high levels of financial wealth.
DAD: Don’t finance things that go down in value
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.
Passive income is income you earn while you are doing something else.
DAD: Most people are afraid to speak about personal finance because they are not comfortable speaking about something they know very little about.
DAD: Canadian households owe a $1.71 for every dollar they earn. Scary.
Be mindful of how you spend money
Somebody who has insight into the possible consequences of money decisions and the impact on their family and long term financial freedom.
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
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.
Sadly, “Black Friday” is the day we trample people for things we don’t need, the day after being thankful for what we have.