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


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,

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