The Wealthy Barber - everyone's commonsense guide to becoming financially independent
I really enjoyed this book.
There really aren’t that many core principles to financial health, and I appreciate when it is tied into a story.
One of the core concepts in this book, “pay yourself first”, is apparently widely known, yet massively under implemented.
I had to hear “pay yourself first” hundreds of times before I actually did it. It has been the single most profitable habit I have ever formed. The concept is worth the depth in this book, and in other excellent books like Richest Man in Babylon and Rich Dad/Poor Dad.
That concept alone will change most people’s financial destiny. The rest of the book I have less enthusiasm about.
But it’s not a problem with the book. If you are an average person with modest goals, these strategies will absolutely help you.
This book isn’t for the people who want to be billionaires. This is not Crushing It! Or a 10 X rule. This book is for the clear headed civilian.
There is a shocking number of people who claim to want to “Crush It!”, yet they haven’t mastered the small and extremely important disciplines like “pay yourself first”.
I think this book is worth reading for everyone. Your financial plan will likely include advice and strategies from many places, adapted to your goals and abilities.
The only reason I can’t confidently back the rest of the advice in this book (RRSPs, GICs, wills, etc) is because I don’t practice them. Maybe I will. For now, I invest in my business. This book has nothing to do with running your own business or sales.
Honestly, any best-selling self help book is worth reading, even if you completely disagree. Many people will have read these books and it’s worth being able to relate, at minimum.