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4.8 out of 5 stars
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The Barefoot Investor, Revised and Updated Edition: The Only Money Guide You'll Ever Need

The Barefoot Investor, Revised and Updated Edition: The Only Money Guide You'll Ever Need

byScott Pape
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Amazon Customer
5.0 out of 5 starsFor real: The only money book you need
Reviewed in Australia on 21 November 2017
I never buy financial advice guides because I dont see the value in contributing to an already wealthy persons bank account. the Barefoot Invester is my one exception. I purchased this in January 2017 having returned from overseas 12mths earlier with no savings + multiple debts + my car as only assert. Its now November 2017 and I have saved a home deposit (admittedly not 20%) + $3,000 savings + $2000 buffer. Most of my savings and payments are now automatic and I know as a single woman on just below average wage I dont need to worry about bills.

I cant reccommend this book highly enough for anyone wanting practical and achievable advice.
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29 people found this helpful

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victor matthews
1.0 out of 5 starsIf You Want to Retire Wealthy - Don't Buy This Book
Reviewed in Australia on 22 May 2020
If you want to work hard all your life until you reach retirement age, own your own home and retire with a small income to supplement the govt pension then this book offers a pathway to achieve mediocrity.

However if you want to retire youngish, and not rely on the govt, because you have enough wealth to support yourself and family in your latter years, then the advise given in this book will ensure you fail.

The author has a narrow and limited understanding of how money works, and lacks both the foresight and insight to advise on any asset classes other than his beloved stock market.
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31 people found this helpful

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From Australia

Lily Malone
TOP 500 REVIEWER
5.0 out of 5 stars No Boring Budgets!
Reviewed in Australia on 7 August 2017
Verified Purchase
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 necessarily 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 ;)
22 people found this helpful
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Eska
5.0 out of 5 stars Just Buy It
Reviewed in Australia on 4 April 2019
Verified Purchase
This has transformed how I see and treat money. It's so easy to follow and sets you up for life no joke. I have gone in the space of a few years to paying off credit card debt, saving a 20% deposit to build a house, going on overseas holidays and investing in a share portfolio and getting my Superannuation in the best health it's ever been and I have a Superannuation background. All this on a single income. Scott has helped me to change my mindset and relationship with money, best investment I have ever made!
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Jabs
5.0 out of 5 stars Here i go
Reviewed in Australia on 10 February 2018
Verified Purchase
Should i respond in a year .... so far credit card debt is gone and im onto the account management ... the smile account is my favourite so far. Great book .... already recommended it to other
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Lyn
5.0 out of 5 stars Inhaled this book written in common sense language with clever ...
Reviewed in Australia on 27 October 2017
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Inhaled this book written in common sense language with clever achievable advice. Paid off our credit card, cut it up and have savings for first time in years
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Bells
4.0 out of 5 stars All good.
Reviewed in Australia on 14 July 2019
Verified Purchase
Well worth a read. I have sent a copy to my son to check out. Hopefully, he’ll appreciate it and remember the $10k credit card debt he ran up.
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Julie
5.0 out of 5 stars Good Personal Growth
Reviewed in Australia on 10 December 2019
Verified Purchase
After 29 years with a credit card I cut mine up 4 months ago
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J. L. Caulfield
5.0 out of 5 stars Excellent read
Reviewed in Australia on 1 January 2017
Verified Purchase
Loved the sensible advice and the bad jokes. I will open my accounts tomorrow, and I look forward to cutting up the credit cards.
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Michael
4.0 out of 5 stars A slightly flawed masterpiece
Reviewed in Australia on 26 June 2017
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If financial truth is based on being logical and rational, then this book is the real deal; if you follow the 9 Barefoot steps properly,  you probably won't need another money guide. I lIke how Pape is independent enough to expose the shortfalls of would-be aids like iSelect, meerkat commercials, and the Commonwealth Bank dollarmites (I had one of those plastic piggybanks). I also like Pape's lucid and virtually conversational writing style - it's almost like he's talking to me, and the book is the transcript from a one-on-one counseling session. 

The book shows the hallmarks of wisdom, and not just confidence. I had to take note of this statement: "Truth is, most people totally overestimate what they can [financially] achieve in one year, but totally underestimate what they can do in six years".

The writing also shows the marks of experienced psychological insight - an uncommon quality in books of this type. I also had to make note of this: "Even the name of the card is a con. A 'credit' card has positive connotations. After all, who doesn't want to be given credit for something? What it really is, is a 'debt' card...though I assume that was voted down in the marketing brainstorming session".

After noting the good stuff in this book, I can't help but be distracted by its occasional politically correct illustrations, as well as its biased (passing) references to Brexit, Pauline Hanson and Donald Trump. Worse still is the taking of the Lord's name in vain. These inclusions might have got a self-assured OK from the book's publisher, but they do nothing to improve the reader's financial position. If there's ever a second edition of this book, culls like this should go on the list.
5 people found this helpful
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wanderm
3.0 out of 5 stars Unreal... but not in a good way
Reviewed in Australia on 15 August 2017
Verified Purchase
Great read and commendable... at least to stimulate discussion. Not for me I'm afraid.

The advice offered can be boiled down to saving and investing twenty cents in your dollar. Now I keep accounts of these things, but on my income living and working in a coastal city that regime is just not possible without a severe restriction on lifestyle. Half that rate would be realistic (and probably half of even that could be practiced). Obviously the author has a nice alternative living in the city fringes and consulting so more power to him.

I was annoyed with the book including testimonies from fans (something like "I went from credit card debts... to $30K in the bank and well on the way to a seven-figure asset portfolio... in two years!!") which sounds like nonsense to me. At a 20% savings rate over such a short time frame, said reader would have had a pre-tax income of $300K plus. Well bully for them, but some real and realistic accounts would have been appreciated.

All in all it sounds like spin for sales of books. To be fair it doesn't read like marketing guff, and it is important to at least make these personal finance enquiries. But it didn't convince me.
13 people found this helpful
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From other countries

Aakash
3.0 out of 5 stars Just another ordinary book.
Reviewed in India on 9 April 2021
Verified Purchase
This book focuses only on Australian products. The crusx is that invest 10 % of what you earn, make a plan to get rid of your debts by setting asside a fixed amount for paying debts each month, have an emergency ( ' Mojo') fund. Set aside some amount for your daily expenses and splurges, have an insurance plan, get a home, find a zero charge saving account ( I could not find such account 🙂), stay away from credit cards. I am impressed but not too much. Just ask your dad and I think he will give you the same advice as the author. Old school way.
6 people found this helpful
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