Who are your finance heroes?
David Chilton. When I was growing up, my dad gave me an unsigned cheque for $50 and a copy of David Chilton’s The Wealthy Barber. The deal was that if I read the book in two weeks, he would sign the cheque. As a kid interested in money, this seemed like a no-brainer. I appreciated Chilton’s desire to avoid using complex and intimidating financial terms to create a financial book that is accessible and digestible for many. Now, as a father myself, I appreciate my dad setting me on the path of reading to gain financial literacy in such a fun, light-hearted way.
Andrew Hallam. The book The Millionaire Teacher had a similar feel as The Wealthy Barber. In a sense, Hallam wrote a finance book filled with exceptional advice given in an approachable, funny and engaging manner. Andrew is a master at storytelling and he makes understanding money and investing—believe it or not—simple.
As my relationship with money evolved, I wanted more. Enter Dr. Brad Klontz [author of Mind Over Money]. He’s an expert in financial psychology and applied behavioural finance. Dr. Klontz’s books, research, and work have helped me transform my relationship with money. His research around money scripts has helped me re-write my money story.
How do you like to spend your free time?
Time is the elusive finite resource that just may be our most important asset. Inspired by the ancient teachings of the Stoic philosopher Seneca, my outlook and relationship with time has been changing.
Seneca said, “It is not that we have a short time to live, but that we waste a lot of it.”
Lately, I have been trying to become more mindful and aware of how I am spending my time. I like to spend my time with my wife and kids, working on creative tasks or my podcast, savouring delicious coffee, experiencing the outdoors, running, biking, camping and exploring the world.
If money were no object, what would you be doing right now?
Is money the only thing keeping us from doing what we truly want to do?
First, I think it’s important to recognize that, as a white male, I have an enormous privilege around money. Still, I feel like when we take the time to understand our relationship with money and what’s important, our entire money framework changes in a healthy manner.
Perhaps to be truly wealthy—or rather truly financially independent—we need to develop a financially free mind, where we see money as simply an ingredient to accomplish fulfilling things in our lives. It’s part of the recipe.
And maybe, just maybe, it’s at this point where we realize money isn’t the only thing stopping us from doing what we truly want to spend our time on.
For me, that would be spending quality time with my family, being outside, experiencing the world, sitting on my front porch with good company, podcasting, learning and creating environments that facilitate people awakening their money stories.
What was your first memory about money?
My first real money memory was when I was seven. We were at a family reunion in British Columbia. I was bored. So, I decided to do what any seven-year-old would do and collected rocks from the nearby riverbank. Inspired by my grandpa’s entrepreneurial spirit, I blessed the rocks with my non-existent artistic skills and drew pictures on them. I decided to sell them as souvenirs to all my relatives. I thought it was genius! By the end of the week, I had collected around $75.
Despite having a sub-par product and only one customer, my grandpa, I remember feeling exhilarated. It was the first time I made money. When my grandpa asked what I was going to buy with it? I remember saying, “Nothing! I just made this money; I want to keep it!”
What’s the first thing you remember buying with your own money?
Aside from slurpees and candy from the local gas station, the first real thing I bought with my own money was EA Sports NHL 1993 for Sega Genesis. I laid awake all night thinking about taking the game off the shelf, bringing it up to the counter and paying for it with my own money. As I thought about it, I was filled with pride that I was paying with my own money.
What was your first job?
My first job was delivering the local newspaper on Wednesday mornings when I was 14. I remember dreading each Wednesday as I delivered papers to our neighbours. Within a few weeks—what seemed like an eternity—I retired from the paper delivery business and spent the next few years as a hockey referee. I loved it. I got paid to skate and watch people play hockey. As for how I spent my money, I can’t remember outside of a few video games and Alanis Morisette’s album Jagged Little Pill.
What was the biggest money lesson you learned as an adult?
The power of understanding my money story and repairing my relationship with money. I realized that we all have a relationship with money, like it or not. And for the most part, it’s a complicated one—this was certainly the case for me.