#262. Dad, what is a quick way to simplify my life?
Identify what is most important to you. Eliminate everything else.
Money
#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?
DAD: There is no correlation between high levels of intelligence and high levels of financial wealth.
#185. Dad, does spending less equate to less joy?
DAD: On the contrary, spending less brings more joy.
#182. Dad, should I finance my used car?
DAD: Don’t finance things that go down in value
#168. Dad, how can I avoid the payment syndrome?
DAD: Learn to exercise self control and delay purchases until you can pay in full with cash.
#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.
#97. What is #3 rule of money?
DAD: Pay your credit card balance in full every month.
#96. What is #2 rule of money?
DAD: Strive to save 10 to 20 percent of your income.
#91. Dad, what is a credit card?
DAD: A credit card is money that does not belong to you. It is not free, and the longer you take to pay it off, […]
#89. Dad, do you have advice about getting out of debt?
DAD: Just get started.
#86. Dad, do I have to spend a lot of money to be content?
DAD: You don’t need to get out of the city to feel calm. You don’t need a gym membership to push your body. You don’t […]
#81. Dad, what about spending money?
DAD: Being good at money does not mean you don’t spend it. And not spending does not make you good at money.
#45. Dad, is money a valuable goal?
Money should never be the goal. Money is a tool to help you accomplish your goals.
#44. Dad, when do most people over spend their income?
DAD: Most people who overspend their income in one of three ways: Too much house, Too much car, Too much entertainment
#41. Dad, should I repay the highest interest rate debt first?
Tackle smaller balances first. This builds momentum and there are psychological reward to doing it this way.
#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.
#31. Dad, may I buy anything I desire?
Yes. You can buy anything you desire – as long as you have saved for it first.
#1. Dad, this money thing is so boring. I prefer not to know.
DAD: When it comes to understanding money, ignorance is not bliss.