Could We Learn From A Land Where Almost Nobody Swims In Debt?


“That will be 450 euros please,” said the young German woman behind the counter.

I was buying a GPS and a couple of bicycle saddlebags. I pulled out my credit card. It cost $505 USD.

But the woman shook her head. “We only accept cash.”

A restaurant declined my credit card later that afternoon. “Sorry,” said the server, “Cash only sir.”

If my credit card had feelings, it might have jumped off a bridge. Nobody wanted my card. Even our small hotel said no.

Image courtesy Pixabay


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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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2 Responses

  1. Rick says:

    Hi Andrew,

    I recently tried purchasing the HXS ETF via TD Direct International but was “not cleared to trade complex instruments”. Any suggestions?

    Kind regards,

  2. no one has more first hand experience helping expat investors

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