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#36. Dad, tell me why holiday traditions are so financially stressful?

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We don’t have to continue holiday traditions that leave us overwhelmed, broke and tired. Traditions should not detract from the season, they should elevate it. […]

#35. Dad, what does it mean to have a healthy relationship with money?

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When you develop a healthy relationship with money, you don’t spend money on needless stuff.

#34. Dad, what is the difference between a want and a need?

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A need is something you have to have. A want is a choice.

#33.Dad, why should I make my bed first thing in the morning?

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By making your bed in the morning, you knock-off your first accomplishment of the day. This puts you in a “winning” mindset.

#32. Dad, what is “Black Friday”

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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?

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Yes. You can buy anything you desire – as long as you have saved for it first. 

#30. Dad, why do we make mistakes?

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Mistakes are often the result of laziness or an obsession with perfection. 

#29. Dad, what is your wealth formula?

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Spend less than you earn.

Dad, what is delayed gratification?

#28. Dad, what is delayed gratification?

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Giving up temptation for long term benefit.

#27. Dad, I don’t have job security.

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Become an expert and nobody will want to see you leave.

#26. Dad, is the goal financial independence?

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It is important to recognize that your financial situation should be a side effect of pursuing a greater purpose. Financial independence is not your aim; […]

#25. Dad, what is the key to early retirement?

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The key to early retirement lies with savings, not income – regardless of how much money you make.

#24. Dad, is it better to pay off debts or save first?

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From a pure math point of view, it’s almost always better to pay off debts before putting money into savings. There is one exception. Contributing […]

#23. Dad, what do you mean when you say I should align my spending with my priorities?

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Figure out your true hourly wage. Think of purchases in terms of how many hours you have to work to make a purchase. This will […]

#22. Dad, how do I live a simple, uncluttered life?

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Living a simpler, uncluttered life means a life that is not filled with constant busyness, worry and stress, but instead contemplation, creation and connection.

#21. Dad, is it true that education is the key to financial success?

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Education is not the key to financial success. Motivation is.

#20. Dad, what will happen if interest rates increase by 1%?

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If interest rates went up by one percentage point, 971,000 Canadians will end up in a cash crunch.

#19. Dad, what is the path to wealth?

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The path to wealth is not found in inexpensive things. The true way to wealth lies in finding the time to dream about the purpose […]

#18. Dad, does carrying a credit card balance help improve your credit score?

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No. No. No. If you fail to pay your credit card in full and on time, it will have a negative impact on your credit […]

#17. Dad, what is the difference between rich people and wealthy people?

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DAD: Rich people dream of money. Wealthy people dream of time, freedom, purpose and happiness.

#16. Dad, why do so many people over extend their spending before Christmas?

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Christmas happens on the same day every year. It does not sneak up on you. Lack of planning is not an excuse to overspend on […]

#15. Dad, do you think that it is important to maintain an image, even if you cannot afford to do so?

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Be authentic! Maintaining an image that your income cannot support goes against being authentic. You cannot pay your bills based on how you appear to […]

#14. Dad, in your book you speak about financial freedom. What is financial freedom?

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DAD: Financial freedom is much more than having money. It is the ability to make life decisions without worrying about financial constraints.

#13. Dad, what is lifestyle inflation?

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Lifestyle inflation is when you keep increasing your lifestyle as your income grows. That is why so many wealthy people are in debt. Beware of […]

#12. Dad, does earning more money translate into more savings?

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Lifestyle inflation is when you keep increasing your lifestyle as your income grows. That is why so many wealthy people are in debt.

#11. Dad, what is an emergency fund?

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DAD: The purpose of an emergency fund is to allow a person to get through financial emergencies without incurring debt.

#10. Dad, how do I control my impulses and stop buying stuff I don’t need?

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Your impulses are largely focused on getting instant gratification. If you want to experience the best life has to offer, you can’t be focused on […]

#9. Dad, what is financial independence?

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Financial independence is the point at which you have enough money in savings and investments to support yourself for the rest of your life.

#8. Dad, our generation believes in YOLO! What is wrong with that?

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DAD: Spending all your money today because you might die tomorrow is reckless, selfish and not sustainable.

#7. Dad, what is the purpose of Money?

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The purpose of money is not to buy things. It’s there so that we can buy ourselves some freedom, so we can do the things […]

#6. Dad, how do I get out of debt?

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DAD: If you are thinking of getting out of debt, my advice is simple. Get Started.

#5. Dad, how do I manage peer pressure?

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Don’t become a prisoner of peer pressure. Your only regrets should be when you failed to lead with your values.

#4. Dad, I am young and want to live and spend money like there is no tomorrow – YOLO

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DAD: It is important to balance preparing for the future and enjoy the present as long as you do not spend more than you earn.

#3. Dad, what is ‘What-the-hell-effect’?

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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 […]

#2. Dad, I bought this shoe that usually costs $300, on sale for $200, I saved $100.

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DAD: You should consider whether you saved $100 or spent $300 on something you did not need.

#1. Dad, this money thing is so boring. I prefer not to know.

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DAD: When it comes to understanding money, ignorance is not bliss.

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  • mental clutter

    #393. Dad, what is mental clutter?

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  • burn your boat

    #389. Dad, what does it mean to ” burn your boat?”

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  • productivity Guilt

    #388. Dad, what is “productivity guilt?”

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  • #384. Dad, why do we get bored?

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  • #379. Dad, starting my business is a slow process. I want to quit.

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