COAD: Delayed gratification means learning to give up temptation for long-term benefit. There are a multitude of hidden benefits associated with practicing delayed gratification and if you take the time to realize the huge significance it can have on your life, you’ll soon begin to practice it with ease and reap the immense benefits that come with it.
COAD: While you don’t have 100% control over how much you get paid, you are completely in charge of how much of that money you save.
COAD: I think it’s important to recognize that your financial situation should be a side effect of pursuing some greater purpose. Financial independence is not your aim; it’s merely a means to an end.
COAD: The key to early retirement lies with saving, not income – regardless of how much you make.
COAD: From a purely math point of view, it’s almost always better to pay off debts before putting money into savings. There is one exception. Contributing towards and emergency fund.
Basically, you figure out your true hourly wage and think of purchases in terms of how many hours you have to work to make a purchase. This is great way to get your spending to align with your priorities and values.
COAD: Living a simpler, uncluttered life means a life that is not filled with constant busyness, worry and stress, but instead contemplation, creation and connection.
COAD: Education is not the key to financial success. Motivation is.
COAD: If interest rates went up by one percentage point, 971,000 Canadians will end up in a cash crunch.
COAD: The path to wealth is not found in expensive things. The true way to wealth lies in finding the time to dream about the purpose of your life.