personal finance | November 12, 2012

Don't Keep Up With The Joneses: David Chilton Promotes Frugal Spending

"[David] Chilton offered good advice last week," Lesley Scorgie, author of the column Fun and Frugal writes in The Metro. "Stop complaining about what you don’t have." In other words, stop succumbing to "adult peer-pressure" and stop buying expensive material possessions that you can't afford thinking it will make you happy. In honour of financial literacy month, both Scorgie and Chilton gave speeches at a recent event on the theme of "Keeping Up With The Joneses." Many of us are over-extending ourselves and making purchases using borrowed money and credit to make ourselves appear wealthier and keep up with our neighbours. However, Chilton argues that the truly wealthy live within their means: meticulously planning and budgeting, making purchases that will increase in value over time, and avoiding frivolous spending. Rather than competing to appear rich, we should instead be building more stable financial health that isn't based on material possessions and can comfortably withstand unexpected expenses.

As the author of the The Wealthy Barber, Canada's all-time best-selling book, and the newest judge on CBC's smash-hit business show Dragons' Den, Chilton knows a thing or two about personal finance. He provides a tried, tested, and true approach to personal finance, explaining that basic financial planning can, over time, make a world of difference. His straight-forward approach to money matters make his keynotes accessible to even the least financially savvy audiences. Incorporating personal anecdotes injected with just the right amount of humour, Chilton helps get his audiences' financial affairs in order—and helps them build effective habits for a more prosperous future.

Up Next

science | November 11, 2012