#317. Dad, is it OK to shop on Boxing day?
Yes, as long as you temper your spending and don’t go into debt.
Spending
#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 […]
#250. Dad, what is akrasia?
Akrasia is when you do one thing even though you know you should do something else. Like spending and saving.
#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.
#204. Dad, tell me about being a perfectionist.
DAD: Perfectionists are motivated to make the best choice every time. This can lead to decision paralysis.
#184. Dad, how do you prioritize?
I always get the important stuff done first and don’t waste time on stupid shit!
#170. Dad, tell me about spending time with myself.
Spending time by yourself allows you to hear your thoughts without distractions.
#159. Dad, how do I take control of my spending?
Stop spending money or time impressing others.
#154. Dad, how do I become a better version of myself?
You have to remain consistent, don’t strive for perfection and learn to say “No” more often.
#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.
#135. Dad, What can I do when other people are being annoying and inconsiderate?
You can only control your behaviour. If you try to change every other person, you are going to be miserable. Dad, taking the lead isn’t […]
#132. Dad, is it important to have structure in your day?
Having structure is important to get things done. Setting aside unstructured “thinking time” is just as important.
#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.
#102. Dad, does having more stuff equal happiness?
Material items do not always equal happiness. Sometimes they just add stress and debt.
#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 […]
#88. Dad, can you give me advice on getting my shit together?
I suggest you don’t spend too much time on things that don’t matter and spend it with people that do.
#84. Dad, what are the 3 steps to get out of debt?
Assess the damage. Understand the root cause. Change your habits.
#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.
#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.
#52. Dad, does a high paying job mean zero financial stress?
Financial stress is not measured by how much you earn, rather by how much you save and spend.
#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
#47. Dad, does getting out of debt mean you have to sacrifice everything?
Sacrifice does not mean giving up something for nothing; it means giving up one thing for something else we believe is worth more.
#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
#31. Dad, may I buy anything I desire?
Yes. You can buy anything you desire – as long as you have saved for it first.
#28. Dad, what is delayed gratification?
Giving up temptation for long term benefit.
#25. Dad, what is the key to early retirement?
The key to early retirement lies with savings, not income – regardless of how much money you make.
#3. Dad, what is ‘What-the-hell-effect’?
The ‘What-the-hell-effect’ is when you have spent more than you have earned and then decide that you might as well fail spectacularly. In short, you […]
#1. Dad, this money thing is so boring. I prefer not to know.
DAD: When it comes to understanding money, ignorance is not bliss.