A review of The Barefoot Investor

By | December 24, 2016

Author: Mr DDU.

It’s not long until Christmas, so from Dividends Down Under we wish you a happy holiday season and a happy New Year.

You may remember a few months ago that we posted an article contemplating the pros and cons of advising family with their finances.

Money is an important topic for every person and couple and for those who have/do struggle with money – how do they keep themselves from falling into the same money problems as before?

It isn’t a simple fix, it requires a huge mental change.  So instead of trying to be some millennial kids telling their elders how to behave, we thought we’d give them a book from one of Australia’s best personal finance people – The Barefoot Investor. We’ve been following Scott Pape (he’s the Barefoot Investor) for a few years and we think his stuff is really good, even though his message is not really to do with retiring early per se. He’s about putting yourself in a great financial position as well as being able to have no stress about money.

So what’s the book about?

Without giving away the whole book, it’s a very comprehensive book about money, how to get yourself thinking about money and is very easy to read. Scott is the most personable mainstream finance writer we’ve ever come across and he’s at his very best in the book.

He lays out how disaster struck his family and how he calmly dealt with it. The main idea behind the book is a (great) step by step guide on how to first get in control of your money, then how to achieve big goals like paying off debt and buying your home and finally grow wealth for you and your family in a stress free way.

We have read many finance books, countless blogs and websites, this book was by far one our favourite to read. Any Australian could follow his steps and become quite wealthy (whether you’re 60 or 20).

Who we think this book is suited for

We think the prime audience for this book are couples who want to become better financially, but aren’t really sure how. But we enjoyed reading this book and have been on the financial path for a few years now. So whether you’re brand new to your financial transformation or several years along, it has a lot of great advice and strategies.

It’s particularly aimed at couples because he suggests going on date nights to talk about different financial tasks/changes that should be done to put yourselves in the best financial position, all whilst having a nice meal together. Working on goals together will definitely bring couples closer.

Our family would definitely benefit from reading this money guide book, even if they don’t follow it word for word. Creating an emergency fund (or ‘mojo’ as Scott calls it) is an idea we can all get behind.

A little (big) taster – it’s worth the read

Now, we want to share a prelude of the book. The whole book reads as well as the below passage, except the rest of the book is more about money and steps:

Link to the prelude

What we learned from the book

We are always slightly adapting our financial thinking, honing what we want to do in our lives. There isn’t a perfect answer and doing what works best for us is always evolving.

This book really reaffirms that money needs to be a couple goal (if you’re in a couple), money can be fun, money can be about the future and security rather than splurging and debt.

If you’re just starting learning about money, Scott provides a lot of extremely easy to understand tips, anecdotes and explanations about what to avoid and what to do.

If you already know a lot about money, it’s a good read that’s fun and explores things you may not have thought of. We can always learn more no matter what stage of finances we’re at and keeping an open mind will help us grow financially and as people even more.

Final thoughts

We’re happy to spread the word about Scott’s The Barefoot Investor book (don’t worry, we’re not being paid a cent for this!). We think this is the best ‘modern’ book that’s perfect for Australians of any age or financial position.

Even if you think you don’t need the book, there could be some family members that would get a huge amount out of it.

Anyway – we hope everyone has a happy holiday season, enjoy time with your family and rest well.

Hopefully next year can be the best year yet for us and for you!

Merry Christmas and Happy New Year,

Mr & Mrs DDU

19 thoughts on “A review of The Barefoot Investor

  1. Martin - Get FIRE'd asap

    I haven’t read the book but have heard a lot of people mention it lately. Isn’t it funny, once you become aware of something it seems to pop up all over the place. I’m going to add it to my reading list (hopefully, the library have it) as it looks like a great read.

    Have a great Christmas guys and here’s to another year of great blogging in 2017

    Reply
    1. Dividends Down Under Post author

      It’s definitely worth the read! It is extremely eye-opening for anyone who isn’t on the FI/RE path as to how much they can change their financial lives.

      Mr DDU

      Reply
  2. Mrs. ETT

    Merry Christmas you two! A couple of questions – do said family know that you are on the path to FI? Also, do you think they are ready to change? We too have family that could benefit from thinking about money differently, but I’m not sure how they would take a gift like this out of the blue. Actually, writing this has given me an idea. I could buy it, then offer to lend it to them as a really good book!

    Reply
    1. Dividends Down Under Post author

      They don’t know we are specifically trying to reach FIRE, but they know we’re trying to be good with money and invest.

      I think they are open to a lot of the ideas mentioned in the book, they read it and loved it 🙂 They may not take every single lesson, but that’s okay.

      That sounds like a good idea Mrs ETT – I hope it works!

      Mr DDU

      Reply
  3. Miss Mazuma

    Merry Christmas guys!! I haven’t read the book yet but I am adding it to my list. It seems as the year winds down I have more time but less focus. I need to readjust my priorities to read more in 2017. 🙂 Wishing you all the best in the new year!! 🙂

    Reply
    1. Dividends Down Under Post author

      Merry Christmas to you too MM. Make sure you get the new book that was released in 2016, there is an older one that was released a while ago.

      Here’s to a great 2017 for us all 🙂

      Mr DDU

      Reply
  4. AustralianDividendInvestor

    I agree with literally everything you wrote. Its the book I give as a gift when someone expresses even the slightest amount of interest in improving their financial situation.

    His early book was one of the first ones I read on the subject of investing!

    Reply
  5. Buy, Hold Long

    Excellent review guys.

    New time poster here but long time follower. I also have been given this book to me when I showed an interest in investing. It is such a comprehensive book and I haven’t even finished it yet. Definitely recommend to others as well.
    Thanks for your posts, keep up the good work.

    Reply
  6. Dividend Diplomats

    The book is on my waiting list at the library. I cannot wait to read it and this review just gets me more excited to do so. Happy New Year to our favorite bloggers from down under!

    Bert

    Reply
  7. Yvonne

    Happy New Year to you both. May 2017 bring you all you wish for.
    Read Scott’s book – my daughter had purchased it. Two different generations following Scott – the Barefoot investor. I am also a member of his “Kiva” Barefoot Investor group. It is a wonderful charity.

    Enjoyed reading your Dividends Down Under this year, keep up the good work.

    Yvonne

    Reply
    1. Dividends Down Under Post author

      Thanks so much for your response Yvonne 🙂 Scott is doing great things, I’m glad you enjoyed the book as much as we did. Kiva is a great idea! Maybe one day we will do that.

      Thanks for reading the blog, hopefully you like it even more in 2017.

      Mr DDU

      Reply
  8. Jef

    Hey guys, happy Christmas and a merry new year :), hope it was a brilliant one for you both!
    I must say that while Scott’s information is great I am the sort of person who wants more details and this is more introductory.. I’ll certainly pick up the book and probably learn a thing or 2 although I’d like more advanced strategies (perhaps I’m not his target market) 😉

    Reply
    1. Dividends Down Under Post author

      Merry Christmas and a Happy New Year to you too Jef 🙂

      Well you may like his Blueprint then as the ‘next step’. I enjoyed the book a lot for what it was, it’s still worth a read I reckon.

      Mr DDU

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *