The Barefoot Investor by Scott Pape
This is the only money guide you’ll ever need
That’s a bold claim, given there are already thousands of finance books on the shelves.
So what makes this one different?
Well, you won’t be overwhelmed with a bunch of ‘tips’ … or a strict budget (that you won’t follow).
You’ll get a step-by-step formula: open this account, then do this; call this person, and say this; invest money here, and not there. All with a glass of wine in your hand.
This book will show you how to create an entire financial plan that is so simple you can sketch it on the back of a serviette … and you’ll be able to manage your money in 10 minutes a week.
You’ll also get the skinny on:
Saving up a six-figure house deposit in 20 months Doubling your income using the ‘Trapeze Strategy’ Saving $78,173 on your mortgage and wiping out 7 years of payments Finding a financial advisor who won’t rip you off Handing your kids (or grandkids) a $140,000 cheque on their 21st birthday Why you don’t need $1 million to retire … with the ‘Donald Bradman Retirement Strategy’
Sound too good to be true? It’s not.
This book is full of stories from everyday Aussies — single people, young families, empty nesters, retirees — who have applied the simple steps in this book and achieved amazing, life-changing results.
And you’re next.
You literally cannot walk into an Australia book store without seeing this book. As the title says above, the book has sold over 1 million copies. The first print of this book was released in 2004 and has since been reprinted and re-released multiple times.
In both my jobs, the title is in high demand. The library still has the item as a popular item with a restricted two week loan and my retail job is guaranteed to sell a few a day.
Okay, I can completely understand where the hype is coming from – this is a personal finance book that tells you like it is, there are nice explanations, and Scott Pape prompts you to take charge. This book is empowering.
At the prompting of the book, I pulled my boots up and actually did some things I have been meaning to do for a while. I changed banks and I made changes to my super. A lot of the book didn’t apply to me, I work casually so I do not have a fixed income to work with, so a large part of the book was educational for me, but not anything I could put into practice. However the educational part was well written and easy to understand!
Pape also does not pull his punches, he names names. And by names, I mean he calls out companies and their products. It was really great seeing a fiance professional be honest. While I much prefer the personal finance books by Peter Clithoroe, others may prefer the more friendly and ‘down to earth’ writing style of Pape. I will admit that at times I felt off put by this casual and at times almost condescending writing style (the repeated talk of ‘a man isn’t a financial plan’ reeked of condescension to me) but if this style makes personal finance more accessible, then who am I to judge.
If personal finance, or finance in general, is something you’re not completely comfortable with, I would 100% recommend The Barefoot Investor. Pape arms you with the knowledge to take control of your own finances, and encourages you to make goals and to save. If you want an easy and user friendly finance, book, Barefoot Investor is for you.
Have you read The Barefoot Investor? What do you think, do you agree with me, or do you think the book is oversold and over-hyped?