Is anyone following the strategies in the Barefoot investor? Just curious how others are finding it
Is anyone following the strategies in the Barefoot investor? Just curious how others are finding it
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4 Replies
Yes, I follow it and how much you get out of it will depend on your income.
We are very low income (carers pension and disability and that won’t change) so we apply the principles of the bank accounts and have adjusted the percentages to be workable for us and it has improved our financial situation. We always have bill money now, have lowered debt and are over all less stressed about money.
If you have more income etc then you’ll get more out of it.
I read the entire book and it was easy to follow. If you are at my income level I’d probably borrow a copy of the book rather than buy it, just to see what you can get out of it, but the $20 is good value and even though it wasn’t all relevant to me I don’t regret spending the money.
Best thing my husband and I ever did. It finally got us on the same page finance wise - I’ve always been good at saving but hubby not so much but for some reason the book got through to him in a way I couldn’t. We haven’t had an argument over money since we started it over 2 years ago. When we started it we were a single income family on less than $35,000 a year. My husband has since gotten a higher paying job but all of our debts have been paid off, there’s money for bills, we comfortably travel interstate once a year to see my husbands family and we’re close to being able to buy a home.
The most important thing is to remember to ‘tread your own path’. You don’t have to follow it exactly - you adapt it to what suits you and your family. As the other poster said it’s available in libraries to borrow and is often on sale at various stores
Been the best thing ever to get my spendthrift husband to understand money and to stop spending and getting us into debt. 100% doable! I gave the book to all our sons and their partners. I bring up the ideas in conversation with them to encourage them that being Barefoot is normal. Even buy for my staff if they even hint at asking for a pay advance or that they want to save for a home :)
I've heard it's been quite successful for many people who need financial guidance & strategies.
If, like us, you already have strategies that you're comfortable with, work well & you're already on the same financial page, it's not going to help. I found the BF idea of many bank accounts & no set budget terrifying! Lol.