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

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The Barefoot Investor (Paperback) $12 (Normally $15-$19) + Delivery (Free with Prime / $49 Spend) @ Amazon AUAffiliate
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expertreader on 19/06/2019 - 22:09 amazon.com.au (2658 clicks)
Last edited 01/07/2019 - 11:05 by 2 other users
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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.

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closed Comments

  • povertytrap on 19/06/2019 - 22:14
    +7

    Wonderful book, great price

    • IVI on 29/06/2019 - 04:06

      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?

  • easternculture on 19/06/2019 - 22:16
    +11

    I got this as audiobook - free with audible trial

  • pw2002au on 19/06/2019 - 22:17
    +93

    First rule should be to stop refreshing ozbargain ;)

    • No ONE on 19/06/2019 - 22:37
      +4

      +1
      Though you snooze you lose.

    • hoxygt on 20/06/2019 - 13:57
      +1

      Hey use Splurge freely and without guilt!

  • d-hunterz on 19/06/2019 - 22:19
    +1

    very useful book.

  • Steptoe on 19/06/2019 - 22:19
    +8

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

    Also, ebook may be available from your council library.

  • AdamFury on 19/06/2019 - 22:22
    +2

    Already got this but +1 for great read.

  • jmoore626 on 19/06/2019 - 22:22

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

    • ShortyX on 19/06/2019 - 22:28
      +27

      Hope your back is ok!

    • Jackson on 20/06/2019 - 10:39

      Was it from a poor struggling person? If so it might give you an idea

  • WilhelmBargo on 19/06/2019 - 22:25
    +3

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

    • JAF on 19/06/2019 - 22:28
      +14

      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.

    • Scorn on 19/06/2019 - 22:29
      +11

      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!).

      • Meovel on 19/06/2019 - 23:59
        +2

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

        • CYMA on 20/06/2019 - 00:25
          +1

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

        • h4zey on 20/06/2019 - 21:19

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

          • IVI on 30/06/2019 - 10:21

            @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

      • [Deactivated] on 20/06/2019 - 13:58

        WTF is he doing with all these buckets?

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

    • reactor-au on 19/06/2019 - 23:31
      +2

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

      • sol3x on 19/06/2019 - 23:45

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

        • reactor-au on 19/06/2019 - 23:50
          +2

          "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

          • Meovel on 20/06/2019 - 00:00

            @reactor-au: If you open multiple saver account, will the limit be 100k1 or 100kn?

            • reactor-au on 20/06/2019 - 00:00

              @Meovel: One account to 100k

              • sol3x on 20/06/2019 - 00:04

                @reactor-au: Thanks for the prompt reply reactor-au. Good night everybody.

            • ioga on 20/06/2019 - 14:44

              @Meovel: But you only will get the 2.55% on one savers account so it doesn't matter. Unless you open another Orange Everyday and then link your second savers to that. Means you will have 4 accounts (2 Orange, 2 savers). If that's what you're going for then I guess it's not a bad idea.

      • carlenet on 20/06/2019 - 08:13
        -1

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

  • sli on 19/06/2019 - 22:28
    +26

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

    • b-radicool on 19/06/2019 - 22:30
      +1

      (E-book available from WA state libraries)

      Thanks for the tip!

    • CharityCase on 19/06/2019 - 23:03

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

      • sli on 20/06/2019 - 10:00

        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.

  • polarq on 19/06/2019 - 22:32
    +4

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

  • G77 on 19/06/2019 - 22:35
    +2

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

  • DHW on 19/06/2019 - 22:40
    +4

    Good book, but OzBargainer can do better.

  • howiezly on 19/06/2019 - 22:40
    +5

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

    • MuddyClear on 19/06/2019 - 22:59
      +3

      What changes?

      • lafriel on 20/06/2019 - 00:24
        +4

        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).

        • NoDiggerty on 20/06/2019 - 07:34
          +4

          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…

          • turbodude on 20/06/2019 - 10:47
            +1

            @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.

        • IVI on 02/07/2019 - 19:42

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

  • poormansfriedchicken on 19/06/2019 - 23:03

    Thought the new edition was getting released July 1st?

    • Meovel on 20/06/2019 - 00:02

      any source for the info?

  • dsar on 19/06/2019 - 23:05
    +45

    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 $$$
    • aurotaro on 19/06/2019 - 23:12
      +1

      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…

    • andymatter on 20/06/2019 - 07:48
      +4

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

    • hoxygt on 20/06/2019 - 14:00
      +1

      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!

    • AncientWisdom on 21/06/2019 - 00:10
      +1

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

      Background: failed at budgeting for years beforehand

  • CC123 on 19/06/2019 - 23:13

    Good book, I recommend it

  • herbo on 19/06/2019 - 23:17
    +8

    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!

    • CharityCase on 19/06/2019 - 23:21
      +29

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

      • samfisher5986 on 19/06/2019 - 23:59
        +2

        We need to release an ozbargain book.

        • CharityCase on 20/06/2019 - 00:03
          +4

          Bareback Professional - 2019
          …recommended by Gerry

        • vr4indian on 20/06/2019 - 11:40
          +1

          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

    • turbodude on 20/06/2019 - 10:50

      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.

    • hoxygt on 20/06/2019 - 14:04

      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!

  • Pielo on 19/06/2019 - 23:30
    +16

    "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.

    • Freegs on 20/06/2019 - 00:42
      +4

      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."

      • brongz on 20/06/2019 - 05:35

        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😬

  • gimmeabreak on 20/06/2019 - 00:04
    +21

    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.

    • Whomastadon on 20/06/2019 - 04:02
      +2

      There's always one

      • gimmeabreak on 20/06/2019 - 13:19
        -1

        at the time of this reply it looks like there is 15+

        • Whomastadon on 22/06/2019 - 20:23
          -2

          Lol insufferable child

      • [Deactivated] on 20/06/2019 - 13:44
        -1

        There's always one … who recognises a lightweight when they see one.

        And there's always many, who are suckers for the lightweight.

      • augernised on 20/06/2019 - 15:12
        +1

        had to scroll further than usual this time at least

    • jimmy123 on 20/06/2019 - 06:03
      +2

      Haters gonna hate #gimmeabreak

      • gimmeabreak on 20/06/2019 - 13:19
        -1

        meh

      • [Deactivated] on 20/06/2019 - 13:46

        Is that all you've got? Go finish High School and then come back.

        • gimmeabreak on 20/06/2019 - 13:58
          -1

          Coming from someone with the phantom as their avatar.

          • [Deactivated] on 20/06/2019 - 14:04
            +2

            @gimmeabreak: Yes, The Phantom is 100% awesomeness packaged in fetching purple tights.

            Anyway, i was talking to @jimmy123, given his contribution drove me towards my own special bucket.

    • turbodude on 20/06/2019 - 10:54
      +2

      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.

      • hoxygt on 20/06/2019 - 14:11
        +1

        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!

        • Whomastadon on 22/06/2019 - 20:23

          Pretty much. Banging on this book about being basic is so insufferable.

    • 4foxache on 20/06/2019 - 17:31
      +1

      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

      • koplik8 on 22/06/2019 - 18:15

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

  • newfangled on 20/06/2019 - 00:07
    +1

    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 :)

  • blackwalnut on 20/06/2019 - 00:26
    +17

    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 .

    • MuddyClear on 20/06/2019 - 11:36

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

    • hoxygt on 20/06/2019 - 14:14
      +2

      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?

  • Kontiki on 20/06/2019 - 05:40
    +2

    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.

    • hanofee on 20/06/2019 - 09:49

      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

  • mrvaluepack on 20/06/2019 - 05:56
    -2

    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.

    • brongz on 20/06/2019 - 07:01
      +6

      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.

  • lufee on 20/06/2019 - 06:08

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

  • ooooooooyeahhhhh on 20/06/2019 - 07:35

    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.

    • ringostingo on 20/06/2019 - 13:45

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

      • Sprintz25 on 21/06/2019 - 15:48

        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 :-(

        • ringostingo on 21/06/2019 - 17:25

          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

          • Sprintz25 on 22/06/2019 - 10:11

            @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.

            • ringostingo on 22/06/2019 - 10:14

              @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

              • Sprintz25 on 22/06/2019 - 12:27

                @ringostingo: Thanks ringostingo you are correct, the description listed it as the 2018 version but said fully updated for 2019-2020 which indicates that its the 2019 version. Live chatted Amazon and just received a full refund, thank you.

  • bluebear_74 on 20/06/2019 - 07:38
    +2

    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…

    • hoxygt on 20/06/2019 - 14:17

      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!

      • bluebear_74 on 20/06/2019 - 18:19

        I ordered it. Then realised I forgot cashrewards… so I canceled it and reordered again :P

        • hoxygt on 20/06/2019 - 21:39

          Haha you won't regret it nor the going back to get your cash rewards :)

  • profeeder55 on 20/06/2019 - 08:21

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

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