expired The Barefoot Investor (Paperback) $12 (Normally $15-$19) + Delivery (Free with Prime / $49 Spend) @ Amazon AU

2750

One of the highly regarded books giving general advice. Please be aware that this may not suit every person/family but the book gives some good pointers that can be adapted to individual situations…

Following is copy/paste from Amazon description -

** Fully reviewed and updated for the 2019-2020 financial year**

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.

Price History at C CamelCamelCamel K Keepa.

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Comments

  • +7 votes

    Wonderful book, great price

    •  

      Not the best Format to get it in
      (Best Format: Audible audio-book)

      Best Price (for Audible noob's): Free
      (ie, as your first Audible aud.book)

      You'll enjoy the Reading (by author)
      more than your own, inner voice, IMO

      PS The "non Family" edition doesn't
      seem to be the 2019 update… Is it?

  • +11 votes

    I got this as audiobook - free with audible trial

  • +93 votes

    First rule should be to stop refreshing ozbargain ;)

  • +1 vote

    very useful book.

  • +8 votes

    https://www.youtube.com/watch?v=lO6_kPHbNGA

    Also, ebook may be available from your council library.

  • +2 votes

    Already got this but +1 for great read.

  •  

    I received a copy of this book with an uncracked spine - is it worth reading?

  • +3 votes

    Now that ING has been ruined with 2.55% interest, what's Barefoot's bank of choice?

    • +14 votes

      He sent an email the other day to his newsletter group and said he still prefers ING however he thinks Up bank is a good alternative and thinks Me bank is as well however he noted that Me Bank app and website are terrible and that Up bank still lacks some features like Bpay.

    • +11 votes

      From his latest email regarding this…

      I like a ‘Mark Waugh’ (all-rounder) type of account, which is why I have steadfastly stuck with ING’s Orange Everyday: it has zero fees (including no international fees), makes it easy-peasy to maintain my buckets, and pays decent interest. (Although today ING dropped the maximum interest rate on the account to 2.55%, in line with the RBA’s rate cut last week.)

      Yet I’m not paid to promote anyone, so what about the competition?

      ME Bank is good, though their tech feels like it was built by the same team who made the Sputnik.

      On the other hand, Up Bank (a division of Bendigo Bank) has great tech and offers competitive rates on all your buckets … but it’s still a work in progress as they roll out their feature set.

      Now let’s talk Mojo (savings) accounts.

      I use UBank’s USaver, which pays 2.87% ‒ although you have to keep contributing $200 a month to maintain that rate. Still, if you’re boosting your Mojo, that works.

      And the competition?

      Well, there’s a bunch of online savers that pay bonus interest bribes, but they all fizzle out after a few months and revert to lower ongoing rates. Then again, the best of them revert to rates between 1% and 1.8%, which is still better than the vast majority of accounts out there.

      Finally, if you want to lock in your money, the best 12-month $100,000 term deposits are with Arab Bank and Teachers Mutual (both at 2.7%), though it’s a slippery-dip from there (say a prayer for the retirees!).

      • +2 votes

        Just checked Up Bank offers 2.5% rate which is even lower than ING, what's the reason recommend it then …

        • +1 vote

          Up is also bonus interest rate capped at 50k (vs 100k ING)

        •  

          UBank Usaver Ultra, check that one, should give you 2.87%

          •  

            @h4zey: SA Gov't uses RateSetter(s) for
            folks needing to finance their
            PV Solar Panels [ + Battery ]

            (They're reportedly arranged a
            slightly lower rate of Interest;
            it might be limited Only to the
            ones who are getting the lower
            RateSetter rate.)

            Of course, they're Borrowers
            Investor are Lenders in deal

      •  

        WTF is he doing with all these buckets?

        And my Mojo is fine and does not need boosting thank you very much.

    • +2 votes

      Only allowing 100k in savings at ING is pretty crap compared to the 200k limit at ubank anyway

      •  

        @reactor-au Cared to share where this information is from? Thanks.

        • +2 votes

          "Earn up to 2.55% p.a.

          Variable rate

          For customers who also have an Orange Everyday bank account and deposit their pay of $1,000 or more per month and make 5+ card purchases that are settled (not pending) each month. Available on one account for balances up to $100,000."

          From the ing orange saver product page

      • -1 vote

        Forget bank deposits! Spread your money across buying shares in the big banks with a much better return!

  • +26 votes

    A true ozbargainer would borrow free from local library. (E-book available from WA state libraries)

    • +1 vote

      (E-book available from WA state libraries)

      Thanks for the tip!

    •  

      Never used a library before, so how do I get the Ebook from state library?

      •  

        Go visit your local. They'll set you up with a library card, I believe you can do majority of signup online beforehand. Then through overdrive app on kobo or the kindle equivalent search the ebook you want and borrow it.

  • +4 votes

    A true ozbargainer - got it from the lifeline bookfest for $5. Nearly new and good towards a good cause. :)

  • +2 votes

    Don't forget $0.76 cashback from Shopback, or $0.61 from CR!

  • +4 votes

    Good book, but OzBargainer can do better.

  • +5 votes

    This book is awesome. The change he recommended in Super alone saved me 3k per year in fees

    • +3 votes

      What changes?

      • +4 votes

        Haven't read the book, but I think he's referring to changing to a lower fee investment option for your super (i.e., HostPlus' indexed balanced having the lowest fees). However, I would like to highlight that low fees isn't everything, and that we should be comparing between funds by both performance and fees (i.e., no point getting a low fee superfund if the net returns are also lower than competitors).

        • +4 votes

          Fees are the only variable you can control.
          Past performance is not an indicator of future success is not just a line they have to say…

          • +1 vote

            @NoDiggerty: I agree to chose the lowest fees if the products are equal but this just isn't the case in my research of Super funds. And although I agree with the standard line of "past performance is not an indicator of future success" if the fund you are looking at consistently (over many years, lets say 10) under performs the top funds you have to question the quality of that fund.
            I have read the book and when researching Hostplus Indexed Balanced found that it consistently under performs the index that it is supposed to track which is a concern. I have found many others asking the same question on forums with no-one able to find an answer why.

        •  

          Maybe some Ratio of Performance to Fees (across a year
          OR parts of a year)…?

  •  

    Thought the new edition was getting released July 1st?

  • +45 votes

    It's a good book for beginners but I really thing its way to overrated and is way to in love with property.

    Most people would benefit by just doing the following:

    1. Switch to ING for their transaction and savings account
    2. Change their super to a industry fund with low fees (e.g. HostPlus, Australian Super etc)
    3. Spend less than they earn
    4. Being diligent and not being lazy/afraid to switch banks, energy providers, insurance etc to save $$$
    • +1 vote

      Lol what…. The bloke hates rentvesting and investing in property by just buy and hoping for growth.

      Just suggests to live within means, save a good deposit, buy your own home and be happy. Then go from there and diversify with investing in the share market…

    • +4 votes

      You have just said most of the things he suggests!!? He is not in love with property!

    • +1 vote

      I guess it rates so high because many out there aren't beginners, many of us when it comes to money (spending excluded) aren't even crawling and toilet trained yet!

    • +1 vote

      His system for achieving your number 3 is quite brilliant IMO.

      Background: failed at budgeting for years beforehand

  •  

    Good book, I recommend it

  • +8 votes

    I've heard from others that multiple credit cards are not compatible with this guy's recommendations. Don't agree with that. I've saved thousands by playing the game with frequent flyer points bonuses and Amex rebates!

    • +29 votes

      He's barefoot investor, you are barefoot Ozbargainer, that's why

      • +2 votes

        We need to release an ozbargain book.

        • +4 votes

          Bareback Professional - 2019
          …recommended by Gerry

        • +1 vote

          We can write few chapters..

          Tip 1: Sim porting. Generally saves $30 a month for each adult. assuming 2 in family, this saves at least $700 a year

          Tip 2: move away from broadband and landline to Sim only plan with hot spot. Saves at least $15 a month bringing $180 a year

    •  

      only because many people don't have the discipline to pay them off every month and spend way more in interest than what they would save from points etc.

    •  

      Been there, done that. If I'm honest I still spent more on the plastic than I do now with my 'buckets'.

      A small proportion of CC holders win overall making the most of points/ rewards, the rest just spend more on credit (even if they repay monthly) than they would have with their own cash, hence the barefoot way is to CUT UP YOUR CREDIT CARDS - ALL OF THEM!

  • +16 votes

    "Saving up a six-figure house deposit in 20 months"

    Sound too good to be true? It's not."

    Maybe if you are on $150,000-$200,000 a year…

    6-figure ($100,000+) deposit over 20 months is $5,000 per month saved, $60,000 per year… That is more than most people's after tax yearly salary.

    • +4 votes

      If you are a working couple. He says, "Second, save like crazy. The average full-time pre-tax wage in Australia is $78,832, or $5000 a month in the hand (excluding super). So a couple both earning average wages could live off one income (very frugally) and save a $100,000 deposit in 20 months."

      •  

        Yeah, his assumption is the median wages. Not all Australian has that income, so basically it’s spend less than what you earn.

        Even almost all the early retirees in USA who lives frugally, they have a much more income than the average and instead of spending it like most people do, they put extra money into their superannuation.

        Live frugally!! And somehow ozbargain ruins it, sadly😬

  • +21 votes

    IMO Basic Information from a journalist with no investment in or accountability to you. A good starting point for stuff that really should be taught in school but that is all I could see when I read it. e.g. spend less than you earn, some budgeting ideas….

    Sure read it for $12 but then step up from there and cast your net further and get some real money masters in your life…

    There is a reason his TV show didn't last - IMO he doesn't have the depth.

    • +2 votes

      There's always one

    • +2 votes

      Haters gonna hate #gimmeabreak

    • +2 votes

      I agree totally but I think the target market for this book is people who aren't great with money. I read it and although a got a few small bits out of it I feel it sets the bar too low but if it was set higher I think it would not suit the average person.

      • +1 vote

        In Australia our average level of financial literacy is zero, worryingly most of what we know is fed to us by the people trying to sell us a financial product i.e. Commbank in primary schools…

        This book appeals because it sets out how to achieve the basics. The detractors say - "yeah so what, its just saying spend less than you earn, easy". But it isn't easy, the stats show a huge proportion of people live pay to pay, very few could pay their mortgage for 3 months if they lost their family income.

        IMO this book is about teaching people to walk and make it second nature before considering to run and it makes it so easy almost anyone can do it!

    • +1 vote

      Can pretty much save anyone the read:
      - get an ING everyday orange card
      - put your super in hostplus indexed balanced
      - save 10% for spending, 10% emergency, invest the rest
      - don't borrow to get a car
      - don't use credit cards
      - pay back your highest interest rate debt first
      - don't waste money on crap so you can save more

      Basic common sense really

      •  

        Absolutely!!! Especially the last one. I sleep on it. usually the next day I realise I don't really need it

  • +1 vote

    2018 Update
    ** Fully reviewed and updated for the 2019-2020 financial year**

    Seems like a contridiction. Why is it not called the 2019 Update?

    I bought one anyway :)

  • +17 votes

    His best investment is everyone buying his overrated book. His other advice is don’t live in the city , do what he does and live on a farm , nice, that’s easy to do .

    •  

      Better yet live in your car. How far you want to take it to save $ is entirely up to you.

    • +2 votes

      Which chapter does he say don't live in the city? I don't recall him saying that anywhere?

      For every book he sells he gives one away, hes also given one to every school in Australia, he has no linkage to any financial product or company so I'm not sure what agenda you might be suggesting he has?

  • +2 votes

    I enjoyed this book and we have implemented most tips in our finances.

    The only real letdown was the 'trapeze strategy to double your income' which is nothing more than 'ask for a raise, and in the meantime hold on to your job whilst you apply for better paying ones'. Derrr.

    •  

      Why? If u work for a business, that’s the only way to improve ur income. Most business will only do annual raise at inflation rate (or even less). That if ur consideration is only salary though, as some will have other priority

  • -2 votes

    The problem is if everyone follows his advice, the economy would be in the shitter because not enough people would be spending and lending levels would fall to an all time low.

    I want people to keep buying stuff they dont need and take risks with borrowing more and more because this capitalism system that we are stuck with requires it.

    • +6 votes

      We’re not stuck with capitalism. We can move on from it, but most people love money/profit, really, really love it. Like they think they will live forever with their money.

  •  

    Any news if UBank will cut their current rates? I'm thinking of no moving from ING.

  •  

    Looks like the new book has a "2019 Update" on its cover and not 2018. See https://www.booktopia.com.au/the-barefoot-investor-2019-upda...
    I wonder if this one is really the 2019 edition which is going to be release on 1/07.

    •  

      I feel like Amazon would give you refund if it's the 2018 version since the description says it's the updated version

      •  

        Mine just arrived and its the 2018 version, can anyone else comment on what they received?

        According to Booktopia The 2019 Update to The Barefoot Investor is publishing 1st July 2019 so i missed out on the new one by about 2 weeks :-(

        •  

          Try contacting Amazon and see if they'll give you a refund since the description said it's updated for 2019. Amazon have really good customer support

          •  

            @ringostingo: I think what they mean by updated for 2019 is that its published in 2018 but with info relevant to the 2018 - 2019 financial year.

            The 2019 version mentioned the 2019/2020 fin year.

            •  

              @Sprintz25: Look at the last comment on this post, other users have gotten a refund and are able to keep the book. The description said "Fully reviewed and updated for the 2019-2020 financial year", but they have since updated it

  • +2 votes

    My friend raved about this book and I asked to borrow it from her but she couldn't find it because she had lent to someone else. I should just probably buy it…

    •  

      If you feel like you money life could do with a tweak even by 1% this may very well help and I promise it won't hurt, no risky investments, no secret plan, just easy to follow methods than make a lot of sense and best of all WORK!

  •  

    Will look to borrow this in my local library as many has suggested :D