The Wealthy Barber – David Chilton

8 Responses

  1. A must read for anyone interested in finance!
    Sarah De Diego recently posted…Experience the Arts at a @ShawTheatre Play #HamOnt #NiagaraMy Profile

  2. Leo T. Ly says:

    I was fortunate enough to have read this book in my mid twenties and applied the knowledge from this book to save about 15% of my income on an annual basis. After I got married, I encouraged my wife to do the same.

    We directed all of our savings to our RRSP accounts first to get a tax break and then use the tax refund to maximize our TFSA accounts. Pay yourself first is definitely a great way to save. It gets easier if you start this early and only spend what’s left after you pay yourself. After ten years, you’ll see a sizeable amount in your accounts.
    Leo T. Ly recently posted…Basic Investment ConceptsMy Profile

  3. Pellrider says:

    I like David Chilton’s style of writing. Both the books are interesting.

  4. Nice review PCI. I completely agree that you spend more when your checking account is high as that’s a problem I’m trying to break. If I have easy access to money I’m just going to spend it.

    Pay yourself first was a huge change in mindset st behavior for me and I think a powerful idea to adopt for building wealth. I used to live paycheck to paycheck without being able to save for anything. But once I started paying myself first, it made life a little less stressful.

    One suggestion if possible is that it also helps to have money sent to an account directly from your paycheck without it even arriving in your checking account. That’s ideal as you learn to love without that money.

    Again great review.
    Dividend Portfolio recently posted…How I Tackle DebtMy Profile

    • The automatic deposits are definally a good option. I personally dont do it. I like to decide what accounts to fund each paycheck. Ie if i throw 500$ in my sons resp i like to see the govt match 20% before adding another 5! =) haha

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