#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 […]
Money
#297. Dad, is personal finance all about money?
Personal finance is about values, habits and mindset and not only about money.
#289. Dad, tell me about judgment.
No matter what you do or say, you will be judged. So, why not be true yourself.
#262. Dad, what is a quick way to simplify my life?
Identify what is most important to you. Eliminate everything else.
#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.
#193. Dad, are smart people financially wealthy?
There is no correlation between high levels of intelligence and high levels of financial wealth.
#185. Dad, does spending less equate to less joy?
On the contrary, spending less brings more joy.
#182. Dad, should I finance my used car?
Don’t finance things that go down in value
#168. Dad, how can I avoid the payment syndrome?
Learn to exercise self-control and delay purchases until you can pay in full, with cash.
#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.
#148. Dad, why is personal finance not a topic of discussion at the dinner table?
Most people are afraid to speak about personal finance because they are not comfortable speaking about something, they know very little about.
#142. Dad, is it OK that my values about money and spending are different from my friends?
Personal values and spending habits are unique to everybody. Spend based on your personal values.
#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.
#97. What is #3 rule of money?
Pay your credit card balance in full every month.
#96. What is #2 rule of money?
Strive to save 10 to 20 percent of your monthly income.
#93. Dad, tell me about eating in restaurants
Eating at home is normal. Eating out is an expensive treat and should be done when there is a social benefit to it.
#92. Dad, how much debt do Canadian households owe?
The level of consumer debt in Canada has been increasing for the past 30 years. Canadian households owe more than $2 trillion dollars collectively.
#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 […]
#90. Dad, what is ingratitude?
Ingratitude is when money only flows inward and never outward.
#89. Dad, do you have advice about getting out of debt?
Just get started.
#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.
#86. Dad, do I have to spend a lot of money to be content?
You don’t need to get out of the city to feel calm. You don’t need a gym membership to push your body and you don’t […]
#85. Dad, what are the main financial challenges facing Millennials?
Most Millennials are weighed down by student debt, the high cost of housing and bleak career prospects.
#84. Dad, what are the 3 steps to get out of debt?
Assess the damage. Understand the root cause. Change your habits.
#83. Dad, is money bad?
Money is not good or bad. It is merely a vessel that allows us to live our lives according to our values.
#81. Dad, what about spending money?
Being good with money does not mean you don’t spend it. And not spending does not make you good with money.
#80. Dad, what is the happiness fund?
Treat yourself if it brings you happiness. Enjoy your money with moderation. Balance is the key.
#76. Dad, should I start to invest?
Start by investing in your personal development and become an expert in one thing.
#69. Dad, does having a budget mean no fun and all work.
Definitely not. A budget is a plan, so you can enjoy your favourite things responsibly.
#67. Dad, tell me how to save money?
Get rid of the “how to” and just do it.
#65. Dad, is the goal to reduce debt?
Debt is not a goal. Debt is what is standing in the way.
#58. Dad, how do most adults rate their financial literacy skills?
More than 60% of adults rate their financial knowledge as “fair” or “poor”.
#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 […]
#55. Dad, why is it so awkward to talk about money when you are in a relationship?
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.
Being good at money does not mean you don’t spend it; and not spending it does not make you good with money.
#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
#45. Dad, is money a valuable goal?
Money should never be the goal. Money is a tool to help you accomplish your goals.