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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 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.


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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 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.

30 review for The Barefoot Investor: The Only Money Guide You'll Ever Need

  1. 5 out of 5

    T-bone

    I've recently decided to become a millionaire. I figured reading a money guide was an essential first step. Scott outlines 9 other steps I will need to follow if I am to realise my goal. I feel like I can call the author Scott, because his personality, and indeed life details are included in every page. Did you know Scott lost his home in a bushfire? You will know it if you read this book because Scotty mentions it on every second page. Despite my snide remarks I enjoyed this book. I admire peop I've recently decided to become a millionaire. I figured reading a money guide was an essential first step. Scott outlines 9 other steps I will need to follow if I am to realise my goal. I feel like I can call the author Scott, because his personality, and indeed life details are included in every page. Did you know Scott lost his home in a bushfire? You will know it if you read this book because Scotty mentions it on every second page. Despite my snide remarks I enjoyed this book. I admire people with passion, and the author's passion for the topic comes through really strongly. The writing style is also quite good for a book on such a dry subject. The only objection I would make regarding the writing is the author's tendency to begin sentences with "look". Look, if I am reading the words I am obviously already looking. The thing I most liked about this book is that it didn't bugger about (too much) with vague motivational crap; it provided little concrete things to do to improve your financial situation - and that's really what I need when it comes to finance: someone to tell me what to do. It also rejected the futile notion that people call budgeting. Instead, it proposes another way to organise your income and expenditure, which I won't explain because I don't want to give away the plot. I will tell you that there are some useful cartoons that help explain the concepts, in case you're not too good with words and shit. If, like me, you are only interested in get rich quick schemes I would recommend skipping the bit about how to grow your income - it essentially says you should work harder. Crazy! I would also recommend skipping the Barefoot testimonials - they make the Barefoot Investor sound like an obscure religious cult. If you're interested in cults please contact me as I am thinking of starting one. On the whole, despite this being the only finance book I have ever read, it is certainly the best one I've read. I would recommend it to all financial beginners. There are enough lame jokes to make the author likeable and enough practical advice to make even a lazy person like me take a few small steps to improve his or her financial situation. Some interesting psychological studies are also cited regarding what makes people happy and statistical data is used to good effect. Look, when it comes to money I can now say, I've got this.

  2. 5 out of 5

    Laura Cordero

    Some good, straightforward advice - easy to understand, but presented as sexist and heteronormative and classist AF. But looking past this - the financial foundations are helpful and great. Not sure about the advice on relying partially on the pension (will we even still have this government mandated by the time I retire? I'm 30 for reference. Our rapidly ageing population seems to be pointing towards an unsustainable future for the pension), and investing in superannuation (the government alrea Some good, straightforward advice - easy to understand, but presented as sexist and heteronormative and classist AF. But looking past this - the financial foundations are helpful and great. Not sure about the advice on relying partially on the pension (will we even still have this government mandated by the time I retire? I'm 30 for reference. Our rapidly ageing population seems to be pointing towards an unsustainable future for the pension), and investing in superannuation (the government already plans to up the age of access to 70 by 2025 so by the time I retire will I even be able to access it before I'm 85!? *sigh*) 12/10 would still recommend though if only for the buckets strategy, the way the information is broken down and laid out, and the instructions on how to invest in shares (I had no idea where to start or how coming from a working class family, so I found this immensely helpful).

  3. 5 out of 5

    Nicole

    This was the easiest and quickest non fiction read I've ever had. Scott knows how to turn something as dry as finance into something engaging to read. Not only that, but he gives you concrete steps to improve your finance and tips about what to look for with no bullshit. Honestly something I wish I had read straight out of high school and will recommend to everyone I know.

  4. 5 out of 5

    Michael Vennard

    Good financial advice wrapped up in repetitive, cringe-inducing dad jokes. I'd recommend this as both a guide for managing your money and a shining example of why comedy is hard.

  5. 5 out of 5

    Bronwyn

    3 stars for the financial advice, 1 star for tone, which is probably best described as 'patronising Aussie bloke'. God knows there are enough of those around already. I also couldn't stand all his hypothetical 'this is me, this is you' dialogue throughout, and I'm unconvinced about using Tinder as a metaphor for the best approach for finding a financial advisor. And Barefoot 'date night' as a single person? Taking yourself out for dinner to look at your own bank accounts and superannuation and ca 3 stars for the financial advice, 1 star for tone, which is probably best described as 'patronising Aussie bloke'. God knows there are enough of those around already. I also couldn't stand all his hypothetical 'this is me, this is you' dialogue throughout, and I'm unconvinced about using Tinder as a metaphor for the best approach for finding a financial advisor. And Barefoot 'date night' as a single person? Taking yourself out for dinner to look at your own bank accounts and superannuation and calling it a 'date' is kinda just sad - although, granted, it is probably a more exciting way to spend an evening than going on a date with Scott Pape himself. Look, I'm sure you could do a lot worse than follow Scott's advice, especially if you don't have any clear financial goals and want to feel more in control of your money. A good chunk of what he suggests is common sense, and I have started implementing some of his suggestions. But as someone not even remotely close to buying my own home yet, I won't even get past Step 3 of his 9-step plan for several years yet. So more than half the book is only theoretically useful at this stage of my life. Also, if you're someone who cares about ethical investment and responsible banking - joining a super fund that is trying not to kill the planet, for example - you won't necessarily want to follow Scott's advice to the letter. He's all about eliminating fees and getting the best bang for your buck, irrespective of how the company invests your money. While I can appreciate the good sense behind not paying high fees (I don't want the Big 4 making squillions by ripping people off either), it would have been nice if the words 'ethical banking' appeared anywhere in this entire book. Like, even just once, with some suggestions of how to balance these kinds of concerns with maximising your savings. Alas, no. I certainly hope that this is 'the only money guide I'll ever need', because right now the thought of ever needing to read a future edition of The Barefoot Investor makes me want to stick pins in my eyes.

  6. 4 out of 5

    Amy Norris

    Ok, for the average person, a lot of what is said in this book is probably good advice. I guess I underestimated myself with how financially savvy I am because I was already either doing most of what is suggested or it didn’t apply to me. Like all self help books I’ve read I didn’t agree with everything and I don’t believe that one financial plan can fit every persons situation. Overall this book has generally good advice, and is easy to follow. It is a quick read and amusing (Scott has a fun pe Ok, for the average person, a lot of what is said in this book is probably good advice. I guess I underestimated myself with how financially savvy I am because I was already either doing most of what is suggested or it didn’t apply to me. Like all self help books I’ve read I didn’t agree with everything and I don’t believe that one financial plan can fit every persons situation. Overall this book has generally good advice, and is easy to follow. It is a quick read and amusing (Scott has a fun personality). Clearly I didn’t need this book but I guess in a way it really made me feel like I’m in a good place and headed in the right direction.

  7. 4 out of 5

    Ace

    Down to earth, achievable, no nonsense money and investment advice for anyone who earns a living. I highly recommend you get onto some of Scott's tips, and as soon as possible in your working career. I am lucky to be where I am but I could have been luckier had I taken on some of his steps for saving more and being wealthier today. I could have bought more books!!!!!

  8. 4 out of 5

    Jie

    If you only ever read one personal finance book, make sure it is this one. Scott Pape once again blows every expectation out of the water with his latest book, a definitive introduction to personal finance. As someone who considers himself well versed in the intricacies of money management I was again struck with awe at how readable the book was for anyone at any stage of their financial learning journey, from the complete beginner for whom this book is eye opening, to a personal finance veteran If you only ever read one personal finance book, make sure it is this one. Scott Pape once again blows every expectation out of the water with his latest book, a definitive introduction to personal finance. As someone who considers himself well versed in the intricacies of money management I was again struck with awe at how readable the book was for anyone at any stage of their financial learning journey, from the complete beginner for whom this book is eye opening, to a personal finance veteran for which the book serves as a solid rehash of the fundamental concepts. Pape avoids complicated Jargon that can often be off putting to new comers and instead lays out a set of simple yet actionable steps that anyone can follow. He argues that with just a few minutes each month and a few small tweaks to the readers lifestyle and money management habits anyone can begin to build long term wealth by following his principles. I strongly encourage any reader to put his steps into place as the immediate effect of these actions will hardly be felt yet the long term benefits will see you living a healthier, wealthier and generally leas stressful lifestyle. The core of the message boils down to a few key points. Firstly, take the discipline out of money by setting up automatic streams for your income as it reaches your bank accounts. This method sees part of your money being siphoned away into savings and investments without any ongoing involvement from the reader, effectively reducing the chances of the reader blowing their paycheck without any money reaching long term savings, while still leaving spending money that you can use completely guilt free. Secondly, utilise the power compound interest via hands off investment vehicles like index funds to steadily grow your wealth over time. To a complete beginner these two concepts alone could prove to be completely life altering in the future. With enough time anyone employed in Australia can comfortably grow their wealth and stop stressing over day to day money management. Pape goes on to discuss superannuation choices, methods of eliminating debt (which is essentially compound interest in reverse), different investment vehicles and choices, home ownership and mortgage repayments, and methods of lifestyle changes that can see you being more comfortable in retirement even with a less than ideal retirement fund. If you have read Pape's previous books you may be disappointed as this book is a lot of the same, however the influence of Pape's own experiences in life have clearly shaped the changes in this edition as we can see his perspective is now far more family focused with new chapters on leaving a legacy for your children and notes on insurance that will protect your family if something happens to your income. In any case the book still serves as an excellent starting point for beginners, and the perfect refresher to the investor looking to get back to the fundamentals of wealth growth. If you have ever dreamed about retiring early or having more money in the bank then this book is an absolute must buy.

  9. 5 out of 5

    Paul

    Look, I'm not great with money. I have managed to save some when I've needed to, but usually I'm the kind of person that wants to spend, spend spend. As I found myself unemployed, borrowing money to pay for rent and food and feeling bad about life, I also found Scott's book. This book motivated me to take control of my finances more so than I ever have before. It showed me the mistakes I've made in the past with money and how to correct them. It taught me how to structure my bank accounts and ho Look, I'm not great with money. I have managed to save some when I've needed to, but usually I'm the kind of person that wants to spend, spend spend. As I found myself unemployed, borrowing money to pay for rent and food and feeling bad about life, I also found Scott's book. This book motivated me to take control of my finances more so than I ever have before. It showed me the mistakes I've made in the past with money and how to correct them. It taught me how to structure my bank accounts and how to be smart with my income so I'm able to handle financial fires when they happen (like not having a job). It taught me the importance of superannuation, allowed me to weigh up the benefits and negatives of property and introduced me to the world of investing. Scott is a straight shooter and will give it to you bluntly, but his writing is also full of compassion and understanding. Chapters and paragraphs are dedicated to the positive effect controlling your finances gives to your life, and how these bad habits are not attached to us forever. It is an inspiring book, well-written with a wonderful sense of purpose, and most importantly imparts practical and easy-to-implement advice, which is what we are after in the first place. Could not recommend this book enough. Do yourself a favour, and go barefoot.

  10. 4 out of 5

    Zacharycbruce

    I think this book was OK. If all you were going to do to try and sort out your personal finances was to read one book, you could do much worse than this. Personally for me there was too much self-help happy motivational jargon throughout the book, and some pretty unhelpful advice. I don't have the book in front of me now but recall that he talks about just working more if you need more money. A great help to the thousands of under-employed people across the country, no doubt. He also fails miserab I think this book was OK. If all you were going to do to try and sort out your personal finances was to read one book, you could do much worse than this. Personally for me there was too much self-help happy motivational jargon throughout the book, and some pretty unhelpful advice. I don't have the book in front of me now but recall that he talks about just working more if you need more money. A great help to the thousands of under-employed people across the country, no doubt. He also fails miserably when talking about the "average wage", and bases some of his advice around the idea that a lot of his readers will be (or should be) earning around that amount of money, which is obviously wrong. Use the median wage, perhaps? There were other instances in the book where he distorts the truth to get his message across. Probably well intentioned but ultimately not helpful. The testimonials are cringe inducing. I get the feeling that a lot of people will read and love this book, and feel hugely inspired to change their personal finances and "get rich slow", but the motivation will soon fizzle out and they'll probably move on to their next feel good, life changing book. I guess if it gets you to make a few small changes (that add up to big money, e.g. contribute more to super or pay more off your debts) it's better than nothing.

  11. 4 out of 5

    Leah

    Scott Pape is pretty funny and entertaining :P Richard Branson was right that he makes finance fun lol BUT... this whole book is based on Australian rules, government rules, finance rules, culture, housing marking, etc which is completely useless to me and the majority of the world lol =/ One thing I disagreed with him on was he believes that paying off the smallest debt is always the best way. This might work on people with mounds of debt that feel hopeless and need a confidence boost on paying Scott Pape is pretty funny and entertaining :P Richard Branson was right that he makes finance fun lol BUT... this whole book is based on Australian rules, government rules, finance rules, culture, housing marking, etc which is completely useless to me and the majority of the world lol =/ One thing I disagreed with him on was he believes that paying off the smallest debt is always the best way. This might work on people with mounds of debt that feel hopeless and need a confidence boost on paying off one of the debts and cutting up the credit card. BUT... rationally and logically it's always best to pay off the debt with the highest interest rate first... Some tips I noted: - Get rid of bank fees no one should be paying that - Most of the stuff we buy ends up in the garage/garbage in a landfill and is a waste so stop buying so much stuff - Ways to make more income - 'career compounding' - set goals that matter with your boss, every week branch out how to work on them, pay raise by end of year, climbing the corporate ladder. Or do your own thing and freelance doing stuff you're good at - Scott Pape is the one who helped Richard Branson launch Virgin Money in Australia - Invest into an index fund not specific stocks. I agree but it’s fun to bet on some specific companies too - Put your investing program on autopilot

  12. 5 out of 5

    Helen

    This book gets 5 stars for being Australian, and for being the only finance book I've ever finished. It loses 2 stars for using lowest-common-denominator language (we're not at a BBQ now, Scott, and if we were I'd tell you to watch your language around my kids) and telling everyone to drink alcohol every 5 seconds. It just felt like the guy who's trying too hard to fit in with people he secretly believes aren't as smart as him. Overall I like his financial approach, and I wish I'd had this book This book gets 5 stars for being Australian, and for being the only finance book I've ever finished. It loses 2 stars for using lowest-common-denominator language (we're not at a BBQ now, Scott, and if we were I'd tell you to watch your language around my kids) and telling everyone to drink alcohol every 5 seconds. It just felt like the guy who's trying too hard to fit in with people he secretly believes aren't as smart as him. Overall I like his financial approach, and I wish I'd had this book when I was 20. Aimed at bogans with credit card debt; I was looking for a bit more detail and a bit more sophistication. I will give a copy to my niece who's just moved out of home, and look out for Barefoot Investor: a Guide for 40-Something Ex-Bogans Who Want to Retire ASAP.

  13. 5 out of 5

    Ahc

    This book is painfully white, heterosexual and blokey. The writing style was very grating. However the advice within (financial literacy, how to pay off debts, don't ignore you're super, how to save, how to be generous with money) is rock solid. I also appreciated the case study examples, and you cant help but appreciate Scott's honesty and own personal lessons. Recommended

  14. 4 out of 5

    Arna

    This has been a hit finance book in Australia for the last couple of years and it’s easy to see why! Set out in a way that everyone can follow and steps that can be customised to suit each individual, I have taken soooo much from this book! I just wish I’d read it sooner!

  15. 4 out of 5

    Steph

    This is a really great read. It’s a finance book but just so... altruistic. It’s sure to make a lot of financial planners and bankers mad, with clear explanations of all the ways we’re getting ripped off. It’s also really easy to read and the author clearly has a good understanding of what average Australians are like, based on the thousands of people he’s talked to about their finances. I also like that it applies to almost anyone who has a job, from teenagers to those about to retire. The only This is a really great read. It’s a finance book but just so... altruistic. It’s sure to make a lot of financial planners and bankers mad, with clear explanations of all the ways we’re getting ripped off. It’s also really easy to read and the author clearly has a good understanding of what average Australians are like, based on the thousands of people he’s talked to about their finances. I also like that it applies to almost anyone who has a job, from teenagers to those about to retire. The only two downsides for me were: 1. Most of the advice assumes you’re working fulltime while someone else looks after the kids. The idea of freelancing or working extra hours etc is fine for people without disabilities or caring responsibilities but as a parent of a young child it’s just an infuriating reminder of how everyone else is getting ahead while we clean weetbix off the floor. 2. Perhaps it’s safe to assume that financial structures will be similar for the next decade or two, so the advice about investing in super etc is good for anyone retiring in that time, but I’m 32, and frankly am not confident that we won’t see the collapse of global financial systems between now and my retirement, which makes planning more difficult. In 40 years, superannuation could collapse and governments may not have the money to bail everyone out - it’s riskier for us youngens. That aside, it’s a great read. Everyone should read this book!

  16. 4 out of 5

    Rachael

    I think this just might be the best book that I have ever read. It made me laugh and cry. I want to buy a million of these and give them to strangers. Just go and buy it - don't borrow it, you'll need to read and re read while on your path to financial freedom. I love that Scott has covered so many financial situations so easily and in all the same steps. This advice is suitable for those barely making ends meet (or not at all) but also for those who earn mega bucks. It's all relevant. Just go b I think this just might be the best book that I have ever read. It made me laugh and cry. I want to buy a million of these and give them to strangers. Just go and buy it - don't borrow it, you'll need to read and re read while on your path to financial freedom. I love that Scott has covered so many financial situations so easily and in all the same steps. This advice is suitable for those barely making ends meet (or not at all) but also for those who earn mega bucks. It's all relevant. Just go buy it. Now. Even if you don't think you need any help.

  17. 4 out of 5

    Mehdi Hassan

    An Australian's version of "I will teach you to be rich". Excellent Book. Practical, Actionable advice. Plenty of directions to financial institutions and personnel for each category of wealth. Definitely one for the shelf in a physical copy. On the downside, some biased information to support his own arguments, but all done with good intention. I am looking forward to scrutinizing certain sections of this book, when my time comes.

  18. 5 out of 5

    Corey

    Summary: This book is amazing. It's clear, practical, effective and an easy read. After reading Unshakeable and MONEY Master the Game: 7 Simple Steps to Financial Freedom, this was a bit more easy to implement as it is specifically targeted towards Australia, where the above two books are targeted towards the American economy. Additionally, Scott provides advice that is easy to action. I would recommend this book to everyone. Even if you just take a few of the steps in the book (which I'll outline Summary: This book is amazing. It's clear, practical, effective and an easy read. After reading Unshakeable and MONEY Master the Game: 7 Simple Steps to Financial Freedom, this was a bit more easy to implement as it is specifically targeted towards Australia, where the above two books are targeted towards the American economy. Additionally, Scott provides advice that is easy to action. I would recommend this book to everyone. Even if you just take a few of the steps in the book (which I'll outline below), you'll be better off financially. The main message I took from this book is that small actions (such as changing superannuation company or your bank) can have a big impact on your long term financial well being. Some notable points: - The Big Four Banks in Australia (CBA, NAB, ANZ and WBC) don't really need to try and be competitive or offer the best deal, so they don't. While having physical branches and good service is nice, there's better deals around. - ING offers a 2.8% (previously 3%) interest rate and refunds all ATM fees. At the time of writing this I think they extended this ATM rebate fee to be global. After reading this book, I called CBA and said that ING were offering me a better rate. I'd been with CBA since the Dollarmite days and had never thought twice about shopping around. I asked CBA what they could do for me, and it was what they were already providing, around 1.6%. I moved all my money to ING that day, I was able to keep my CBA accounts open with no fees due to being a Dollarmite lad but that's not possible for everyone. The only downside to ING is they don't have physical branches, but that's never been an issue for me. Their service has been great and their banking app is really easy to use too. - Create a 'mojo' account. Basically just a lump of money for use only on a rainy day. This gives you financial confidence and peace of mind, knowing that if something happens, you have the fund to dip into. The starting balance is $2,000 and the author suggests selling excess belongings and doing whatever it takes to scrape that $2,000. From there, try building it up to be able to cover 3 months living expenses. Imagine the peace of mind you would have if you knew that you could survive for 3 months with no income? Use the section on financial security in Master the Game to set this number. Open the mojo account with a separate financial institution, set and forget. - In ING, or whatever bank you chose with a high interest rate, create the following 4 accounts. . Expenses. This is an everyday trading account that all your bills come out of. Internet, Netflix, phone, utilities, rent, etc. Have your salary go into this box. . Splurge. Set up an automatic transaction so that 10% of your salary goes here, this money is for short term use (think a night out with your partner, a round of drinks for your friends or a small luxury item/service). . Smile. Send 10% of your salary into this savings account with the high interest. This is for long term saving on something that'll make you smile. Think travel, some high end experience or perhaps a more expensive luxury item/service. . Fire Extinguisher. Send 20% of your salary into this high interest savings account. This is called the fire extinguisher because the idea is to point it wherever you want and let it work its magic. Think eliminating debt or saving for a house. - Find the super fund with the lowest fees and roll everything over to that. The author recommends Hostplus. The recommendation is also to salary sacrifice into your superannuation so that 15% is going in. If you're in the public service you won't need to do this, but the rationale is that the mandatory 9.5% is often insufficient to build a big enough nest egg for retirement. - Only insure against things that can kill you financially, choose a higher excess and don't automatically pay your premium each year (try and finagle a better deal or threaten to leave...or leave). You probably don't need private health insurance if you're under 31. Your greatest financial asset is your ability to earn an income so you should get income protection insurance for about 10 to 12 times your annual income. - Buy a new pillow, and make it a good one. The author recommends the Dunlopillo. - By now you should have 3 'buckets'. The bucket with your mojo account, the bucket with your long term investments (property, super and anything else) and then your system with all the different accounts to save, pay expenses and live life. Mojo, Grow and Blow. - Credit cards suck, don't pay off your HECS-HELP debt (it'll look after itself), don't get a car loan and point your Fire Extinguisher at any debts, starting with the smallest one and working your way through them. - Seek a $5,000 pay rise each year and prepare for performance reviews/interviews to make sure you secure. Invest the time in yourself to hit this benchmark. - Freelance and earn money through others stream, if it's your passion that you're working on or the opportunity arises to let go of your current job in favour of the freelance work, go for it, but at the right time. Working for yourself is favourable to working with a boss, so when your side hustles get to the points that they can match your 9-5, let go of the 9-5 and double down on your hustles. - Don't not buy a house for fear of a crash, just do it. Buy within your means and make predictions about what costs you're going to have through the life of the mortgage (kids, new car, etc). Don't start with an investment property if you want a family home and don't forget to save while renting, make it work. - Save a 20% deposit using your fire extinguisher to avoid paying Lender's Mortgage Insurance. If in a serious relationship, live off one income, and allocate the second income purely to saving for the house. - Invest for your kids or grandkids, by starting early and adding small amounts regularly, compound interest can give them a great head start in life when they're ready to be financially responsible. - Automate where possible to avoid involving your emotions in your finances.

  19. 5 out of 5

    Tatterededges

    Financial advice with a giant heaping spoonful of misogynist crap. Between the half a page devoted to Kim Kardashian's arse, the fifty shades of gray references and the constant condescending remarks, it's pretty clear that Scott Pape does not think very highly of women. He doesn't half like to waffle on about himself and make crap jokes. I really don't care that he shops at Harvey Norman, what kind of pillow he has or that he didn't care for his wife's first oven. Is is a finance book or a biogr Financial advice with a giant heaping spoonful of misogynist crap. Between the half a page devoted to Kim Kardashian's arse, the fifty shades of gray references and the constant condescending remarks, it's pretty clear that Scott Pape does not think very highly of women. He doesn't half like to waffle on about himself and make crap jokes. I really don't care that he shops at Harvey Norman, what kind of pillow he has or that he didn't care for his wife's first oven. Is is a finance book or a biography? There is an absolute fuckton of product placement. From start to finish. Sure he says he doesn't get kickbacks but the only other person I've ever seen do that much "free" advertising was Oprah. It's about this point that I start to understand why he encourages the reader to drink so much. You need a glass or two under your belt just to get past all the bullshit. Also don't let the use of the word investor in the title fool you, very little of this book is about investing. So about the finances... The financial advice is basically common sense. There is nothing in it that is particularly groundbreaking or revolutionary. It's essentially reduce debt, save your money and invest in your future. Some of his advice is a bit questionable. Does one really need 6 bank accounts? probably not. Is it wise to put all your money in joint bank accounts with your partner? Definitely not. Private health insurance is a rip off, I’d rather pay the Medicare levy surcharge because putting my money into the public health system is a better investment than private health funds which are profit based and further fleece me when I try to use them. He's big on people freelancing and giving up massive amounts of their time to try and pull in some extra money and very dismissive of the criticisms that not everybody can or should freelance. I work in healthcare, I can't exactly start running a clinic out of my garage now can I? and why would I want to? Money is awesome and all but honestly, living within your means and having free time to spend with friends and family is more awesome. Some of the advice is really vague, specifically the stuff around investing for your kids. He talks a little bit about shares and a little bit about bonds but there's few specifics and if you want to invest in shares or bonds, you'll definitely need to read something else. Probably because he offers a subscription service for just under $400 that goes into shares in more detail and he is about to start peddling a second book for families (so um... apparently NOT the only financial guide you'll ever need) And then there are things he just doesn't address at all. He suggests spending 60% of your income on all your daily expenses but doesn't acknowledge the incredibly high cost of accommodation, childcare and travel expenses for people living in capital cities. It's not possible for everybody to move to the country, and if they did, what do you think would happen to the cost of these things in rural areas? I would have liked to see him include a bit of breakdown of daily expenses. He does provide some good examples of how to reduce your debt, decrease your interest rates and pay off your mortgage faster and includes some handy scripts to follow when talking to banks and insurance agents. Overall, it's an easy to read and fairly sound financial strategy, if a little unnecessarily convoluted in places. He is a pig though so you'll need to get past that. Three stars for the financial advice. Zero stars for the shitty attitude towards women.

  20. 4 out of 5

    Lily Malone

    So the beginning of this was a bit 'rah rah' motivational for me... with lots about the author's personal scenarios on his farm (there was a fire) and more to do with alpacas and planting trees. Once we got past the metaphorical though, this book got extremely useful, very practical, and it got there fast. It nails down to scripts to empower you to talk with your bank manager, super-fund manager, insurance brokers etc; and what to look out for in terms of fees and costs on everyday bank accounts/ So the beginning of this was a bit 'rah rah' motivational for me... with lots about the author's personal scenarios on his farm (there was a fire) and more to do with alpacas and planting trees. Once we got past the metaphorical though, this book got extremely useful, very practical, and it got there fast. It nails down to scripts to empower you to talk with your bank manager, super-fund manager, insurance brokers etc; and what to look out for in terms of fees and costs on everyday bank accounts/credit cards etc etc. Beating the banker is a key aim, and who doesn't like the idea of that? It's also got a nice touch of humour which made me giggle in parts. My hubby was a fan of Scott Pape's newspaper column, though I've never read it. He tells me that used to have a nice line of humour in it too. So it's a good read in terms of language and style, and it has some excellent information that I intend to follow. I don't think I'm chopping up my credit card as he advocates, but beyond that, the amount you need to retire comfortably, and how superannuation will get you there, was the biggest benefit to me. Oh - and the back of the book - stuff about legacy? That's a great reminder that you can't take the whole lot with you when you fall off your perch. There's a lot in this book about less is more - and you don't need huge incomes to get started (who knew that people earning more than $70k/year are not happier than those earning less??), you do need to start saving/growing money now though, or as young as you can as the greatest lever for wealth creation is time. Oh, and there are no boring budgets in this book, although there are definite buckets for your money! Thank you Scott Pape for sharing such insight and knowledge. I have a feeling it's going to become a bit of a Bible. p.s. I bought this on Kindle sale... I think that speaks to my financial management ;)

  21. 5 out of 5

    Susan

    This is a brilliant, simple book on how to be money Davy. It doesn’t give you generic advice but actual proper step by step. This is more suitable for Aussies as it refers to our banking systems etc Definitely recommend!!

  22. 5 out of 5

    Matthew

    Simple, yet enthralling read. Great strategies and a framework that will work for me. I can't wait to knuckle down now and build my financial future.

  23. 4 out of 5

    Ashley Xu

    I sped through this!! May have accidentally stayed up til 3 one night reading it... Super easy to read and unexpectedly funny. I enjoyed how Pape guides you in a very straightforward path towards financial control, which to me is a good foundation on how I can manage my income to both save & spend guilt-free. The method is detailed on the basis that you follow the conventional Aussie dream – the desire to own property. It provides an introduction to controlling where your income goes, managing d I sped through this!! May have accidentally stayed up til 3 one night reading it... Super easy to read and unexpectedly funny. I enjoyed how Pape guides you in a very straightforward path towards financial control, which to me is a good foundation on how I can manage my income to both save & spend guilt-free. The method is detailed on the basis that you follow the conventional Aussie dream – the desire to own property. It provides an introduction to controlling where your income goes, managing debt, optimising your super, buying a home, which all leads to a very comfortable retirement (where money is the last of your worries). Even if conventionality does not tickle your pickles, I think there is a lot of wisdom that everyone can apply to their financial life! + extra brownie points for Pape mentioning the importance of giving. Personally, I gained a lot of stability reading this, especially because I'm pure n00b at life and cannot for the life of me stop being anxious about money pursuing design.... even though I know I am 100% being dumb and will be fine... And his apple tree anecdote was everything I needed to stop worrying about my current investments. Overall a valuable read!

  24. 4 out of 5

    Claire Lindorff

    Some useful little tips. Easy to read and not boring. Some illogical tips (e.g. change banks because the big 4 all charge fees amounting to an average of almost $500 a year; gives an example of these fees 3 times and each time it's the same - you get charged $2 whenever you withdraw from an atm not belonging to your bank. I don't know about you but I don't do this 240 times a year. Checked my bank for fees just to make sure and there are absolutely zero. He also says the interest rates aren't th Some useful little tips. Easy to read and not boring. Some illogical tips (e.g. change banks because the big 4 all charge fees amounting to an average of almost $500 a year; gives an example of these fees 3 times and each time it's the same - you get charged $2 whenever you withdraw from an atm not belonging to your bank. I don't know about you but I don't do this 240 times a year. Checked my bank for fees just to make sure and there are absolutely zero. He also says the interest rates aren't that good with the big 4, and I agree that that is a good reason to switch, but not because of any fees! Giving that as an example was a really illogical way to start the book and made me wary). Some tips that don't weigh up. (e.g. when he talks about not buying an investment property and gives the example of how much someone lost by doing so he forgets to take into account the rent the person received. He totals up the fees over the years the person had the property and they amount to $100,000 and says she'll have to sell the property for that much more than she bought it for to just break even). Also, not a fan of all these different bank accounts he says to make for this and that. It makes it so much more complicated than it needs to be. Much easier to keep it all in one good interest account and make sure there's enough there for emergencies (which he calls mojo) etc. Also, he continually brings up how he had a fire and lost his house and had to start from scratch. But at one point he says he had insurance for all that and was handed a very large payout. So honestly he never had to use his "fire extinguisher" and start again with nothing. That's rubbish. He tries to be funny and often his humour is crude. It's quite distasteful. Apart from all these things, I still learnt a thing or two here or there.

  25. 5 out of 5

    Buddy

    Please don't judge me, I'm just figuring out how to be a grown up. His writing voice is very normie capitalist white Aussie bloke, lots of grating hetero jokes etc. It's also easy to understand and encouraging. I put off reading this for months because money is boring but I actually enjoyed it and smashed through it in a weekend. Really useful financial literacy primer with a step-by-step guide on how to manage your money. He doesn't consider ethical investment stuff, like ING the bank he recomme Please don't judge me, I'm just figuring out how to be a grown up. His writing voice is very normie capitalist white Aussie bloke, lots of grating hetero jokes etc. It's also easy to understand and encouraging. I put off reading this for months because money is boring but I actually enjoyed it and smashed through it in a weekend. Really useful financial literacy primer with a step-by-step guide on how to manage your money. He doesn't consider ethical investment stuff, like ING the bank he recommends definitely invest in fossil fuels, so I wanna do some more research around that before trying to follow his advice. Utterly uncritical but if you're wondering how to survive in this terrifying hellscape and never think about money because it overwhelms you with anxiety, this book might help.

  26. 5 out of 5

    Myles Elton

    Very helpful putting financial lingo into everyday language. I hate these kinds of books but this was helpful, clear, with guidance in language I can understand. For me there are moral factors in considering banks and investments that he doesn’t consider in this book. Didn’t expect the book to do This because I have different ideals. The main issue was the banks he suggests and investments are connected to bad decisions for the environment. Both UBank and ING invest money in fossil fuels mining. Very helpful putting financial lingo into everyday language. I hate these kinds of books but this was helpful, clear, with guidance in language I can understand. For me there are moral factors in considering banks and investments that he doesn’t consider in this book. Didn’t expect the book to do This because I have different ideals. The main issue was the banks he suggests and investments are connected to bad decisions for the environment. Both UBank and ING invest money in fossil fuels mining. Not an issue if you don’t care about that. My favourite thing was moving away from budgeting and putting things on autopilot. Using bank accounts to shape spending rather then budgeting/self control. I am changing a our bank accounts and systems so we don’t have think about what spending on by limiting what we have to spend.

  27. 5 out of 5

    Kerrie

    Great examples and stories to explain what could be a dry subject - learnt a lot from reading what is s a text to read over again to digest bit by bit. Began this when on holiday and got to page 5 then life intervened. Once picked it up it was easy to complete in a few short sittings. Sensible points. Great recapping of action points /suggestions. Good for goal setting be it for looking at financial matters or a project or other goal. Appreciated the author's own honesty and sharing of own life Great examples and stories to explain what could be a dry subject - learnt a lot from reading what is s a text to read over again to digest bit by bit. Began this when on holiday and got to page 5 then life intervened. Once picked it up it was easy to complete in a few short sittings. Sensible points. Great recapping of action points /suggestions. Good for goal setting be it for looking at financial matters or a project or other goal. Appreciated the author's own honesty and sharing of own life experiences.

  28. 4 out of 5

    Connor Parissis

    I read this (accidentally) at work when I had nothing better to do. The font and formatting of the book was so annoying, how is this the #1 book by a longshot? It looks self-published and unprofessional. The financial advice was pretty meh and rooted in the ability to just save for a house deposit willy-nilly which is a position the majority of the population just aren't in, as well as encouraging the purchasing of stocks. It did make me change some of my super settings though so there's that.

  29. 5 out of 5

    Kristy

    The only finance book I've ever read, and I loved it. Practical, genuine advice that is easy to understand.

  30. 4 out of 5

    Jan Bochat

    Really fantastic guide to personal finance. Highly recommend to anyone and everyone! However I am put off by the mantra throughout the book that attributes your self-worth to financial control. That’s a scary thought and one that I wouldn’t advocate to anyone. So I take the very helpful “date night” advice but avoid the worldview that is encouraged.

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