Akrasia is when you do one thing even though you know you should do something else. Like spending and saving.
Debt feels like having to run 10 miles to get to the starting line of a marathon. It is impossible to get ahead.
DAD: Perfectionists are motivated to make the best choice every time. This can lead to decision paralysis.
DAD: I always get the important stuff done first and don’t waste time on stupid shit!
DAD: Spending time by yourself allows you to hear your thoughts without distractions.
Stop spending money or time impressing others.
DAD: You have to remain consistent, don’t strive for perfection and learn to say “No” more often.
Personal values and spending habits are unique to everybody. Spend based on your personal values.
DAD: Structure is important to get things done. But, set aside unstructured “thinking time” in your schedule.
There are no guarantees. Make sure you spend less than you earn and save for the future.
DAD: Get better at two things: Self- Management and Willpower
DAD:Material items do not always equal happiness. Sometimes they just add stress and debt.
DAD: Pay your credit card balance in full every month.
Being good with money does not mean you don’t spend. And not spending does not make you good with money.
The level of consumer debt in Canada has been increasing for the past 30 years. Households owe more than $2 trillion dollars collectively.
DAD: I suggest you don’t spend too much time on things that don’t matter and spend it with people that do.
DAD: Assess the damage. Understand the root cause. Change your habits today
DAD: Being good at money does not mean you don’t spend it. And not spending does not make you good at money.
DAD: Treat yourself if it brings you happiness. Enjoy your money with moderation. Balance is the key.
Financial stress is not measured by how much you earn, rather by how much you save and spend.
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