CamelCamelCamel.
You’ll need the 2020 one. Not sure the 2019 one will help much after what’s happened this year
Don't worry it'll be 2021 before you get it, just in time for it to be out of date and require replacement by the 2021/22 version. Add, rinse, repeat. One person getting rich from this book, for sure.
if you follow the tips you be rich too
Luckily money and resources are infinite so everyone who gets this book will become rich
Only one person will get rich from this book and it won't be you.
This book isn’t about being rich it’s about understanding your finances and reducing your financial burdens in order to live comfortably.
yeah, my thoughts exactly. That's why i've been waiting for the 2020 edition.
Is there a big difference between the 2020 and 2019 version?
there never is in general, but this has been a crazy year and the financial landscape might have changed, so there might be useful new info in there.
I think the 2019 version was brilliant, and think the 2020 version will definitely be different. However, I don't think the 2020 tips would be useful much. Probably better to get the 2021 version after he's had to gather his thoughts and think deeper about the state of the financial system and impacts upon citizens.
It's for the 20-21 financial year, that started on 1st July… midway through COVID. I highly doubt it even mentions COVID in the book.
Wondering if 6% cash back (doesn’t usually last long for books) would apply on a preorder?
Now I know it does!
Thanks OP, was looking to pick this up.
A good way to keep on selling the same ideas again and again.
The man knows how to make a buck. Better buy his book, he knows what he's talking about!
Most educational products are literally doing this.
Teachers been running the same scam for thousands of years
What scam do they exactly run?
@lookingforTV: New editions of books at exorbitant prices.
I should get into this business asap it's a goldmine.
Education companies and 'experts'. I doubt teachers are big fans of the 20th edition of their textbook.
Depends if it sells, I haven't paid a cent for my 300+ Udemy courses
He prefaces the book by saying that the only thing that is updated is specific recommendations about Bank/Super/Insurance products. If you've read a prior version of the book there's nothing new here. But if you're buying it new, at least you get the latest specific advice.
Page 1: Create book on investing.
Page 2: Sell over a million copies of book.
Page 3: Profit!
In all serious though, can other's comment on this being worth a read?
If you do not know basics of money savings then go read it ….
A lot is common sense basics but there's a few tips that make it well worth reading.
know basics of money savings
Spend less than you earn ????
This book is largely targeted at those who falter at that step.
@XabiFernando: Seriously - there's a couple chapters dedicated to paying off your debts, working from smallest to largest.
working from smallest to largest.
A better way would be to focus on the debt that is costing you more…
eg. You might owe $200,000 on a house costing you 2.5% p/a
and a car loan costing you $20,000 at 9% p/a
Here, you should target the smallest debt, or you will be worse off…
@jv: Your point is inarguably better, but his strategy is likely tailored for people whom struggle to grasp basic financials in the first place. So something more simple like "just chip away at it by starting with the smallest first" is probably more effective for them
@jv: Completely agree, but as @Shunto said he tackles it the other way around, so you get to keep the positive feeling of removing debts one at a time.
Also I didn't know you gave replies that weren't strange puns, jv.
Hmm sounds suspicious.. how will I get everything I want then?
Yep and move to the country and work from
Your computer selling this book. Everyone can do that. And hustle if you have to be being an Uber driver. Great advice .
I try to spend more than I earn but I always run out of money
If you read this book I highly doubt you wouldn't learn at least something. It's a pretty good read.
Didn't learn anything special, most of it was common sense to me.
Also found the advice far too risk averse for me, no fun / excitement.
No advice on options, box spreads, tendies, masturbation, getting jacked to the tits and TSLA.
fingers crossed scottie subs to wsb before the next edition i guess
I changed my habits after reading the book in December last year. Put money in investments in January. It crashed in March. Thanks Barefoot Investor
All jokes aside, I left the money in my investments and I'm now up 10% and my savings is growing steadily. I think it's well worth the read, but some parts can be skipped if you don't own a house (or if you aren't planning to own a house in the next few years)
as a renter, it's definitely helped me take those first steps towards putting a pile of money together, and ignoring it so it can become a big enough pile of money that i can make a deposit one day. Really helpful to take those first few 'date night' steps to put finances in order, appeal to the inner ozbargainer by finding the best bank account/insurance/etc, and then putting some 'set and forget' structure in place.
if you don't want to bet $10 on this being a helpful resource for your own situation, then borrow one of the 204 copies in Australian Libraries before you knock it.
Yeah I was about to buy it until I realised I work at a school which has a library…
I'm not sure if he mentions it, but I feel like not enough people know about this. It might not be particularly beneficial for people over a certain income, but I like to let people know about it if they're trying to save for a house and may not be aware of it.
https://www.ato.gov.au/individuals/super/withdrawing-and-usi…
I probably would have started saving to buy a house much sooner if I'd been aware as I now salary sacrifice and don't miss the money because I never see it.
@Miss B: From memory him and many others have said the government saver scheme is too inflexible to be worthwhile for many people. Glad it’s working for you though!
IMO he'd sell more copies if the guy on the cover was literally barefoot.
Better than the bareback investor though, right?
The Bareback Investor: Going into investments raw
@AustriaBargain: Oh wow I had no idea this existed. It's pretty funny too. Shiiiiiiiiit. Down the rabbit hole I go.
I'd prefer not to look at people's feet.
If he’s such a good investor, why can’t he afford shoes?
IMHO it's a good read… I'm not stupid & good with numbers but never seemed to get anywhere financially…
I was given the book to read, thoroughly enjoyed it… Now I have absolutely NO Debt & a nice stack of savings that's continued to grow…
It's amazing that something so simple works but for some reason I just needed someone to show me the way…
So now, I can buy pretty much anything that comes up on OzBargains if I want it…
Cheers
I bet 2020 edition will have 'Do not access Ozbargain' as it's first chapter.
I'm reading the 2019 edition at the moment, it is useful to me because i just arrived in Australia less than a year ago so it helps me understand quite a few things here and there and that you can always call your companies and get a better deal. I'm good at saving money and managing it properly, but it also helps seeing what others are doing and learning a few tricks here and there.
You are on the right track, i wish i read it when first arrived to Aus.
I know about shares, managed funds or etc, but hell no about lic, buying shares via super etc
I didnt follow as is though e.g i have my own structure, love credit cards etc, but its worth reading as a start
I cover-to-covered it a couple weeks ago. I have some financial knowledge but not a whole lot and I'm at the start of my career.
There's lots of stuff in there that won't apply to you if you've already been considering your finances for a while. The big picture stuff and the real world examples are useful for everyone tho in my opinion. It's still a useful read.
There's a free pdf of the original release out there if you Google.
It was an interesting read, but about 90% is common sense.
90% should be common sense, but unfortunately you don't learn about this stuff in K-12 so unless you go out of your way to actually educate yourself, this book will be your first exposure to a lot of realities you may have been ignoring.
I never learned about finance in school, but the stuff in there isn’t rocket science.
Like someone already said “this bank charges nothing so use that one!!!!”
You shouldn’t need to be taught that.
I didn't like it personally, books tone comes across quite condescending. I'd recommend Noel Whittaker, any if his books but prob Making Money Made Simple.
Either way just rent from a library for free, don't but books.
Noel Whittaker is my boy! Read Making Money Made Simple as a teen.
I think Barefoot has a system that works for some people though. Id recommend barefoot to someone who is completely financially tarded.
It's a pretty good primer for financial literacy - great for teenagers and young adults who need to 'get started' with managing their own money matters. It has a very practical advice, with real examples and aimed specifically at Australians.
I learned a thing or two.
Thanks all, appreciate the info.
The Barefoot Investor 2020 Update
He still can't afford shoes…
Thanks OP.
Pretty sure the 2020 version just mentions to visit ozbargain.
That seems like the worst way to get rich!
Yes it mentions ozbrgain, to list as a blocked portal 😁
Damn…I still haven't got around to reading my 2019 update copy.
Why do you need to take your shoes off ?
Well if anyone has money left to invest after all this…
He is a farmer
It's just a reference to being a strategy for the everyman rather than for suits only.
I've collected about 3 bear's feet so far! Can't wait for the pay off.
Good for basic money management stuff. I just borrow my from the local library. Don’t feel like anything I don’t already know and no need to read it again.
For $10 if I learn one thing will be worth it, then put it on Ebay for $15
I don't get what the fuss is about. If I wanted to read I would have gone to uni
Just wait for the film.
Sign up to audible free trial and listen to him read it.
I found his delivery on the audiobook tough to listen to. I’d recommend the paper version.
Ha - this will make an even better Xmas gift.
Just order, not sure which promotion was applied, but I selected "expedited delivery" and total came up at $10
That's normal if you have a Prime subscription. If not they might be running a promotion for Christmas.
no prime for me. amazon keep pestering me to try it out but I haven't opted in yet.
same here, Prime not required to get free delivery.
It's not all common knowledge, eg there's a bank that doesn't charge fees AT ALL and even re-imburses 3rd party ATM withdrawal fees. That blew my mind.
The tips about creating multiple online accounts that split your pay into automatically was very helpful and again something I never would have thought of.
There's many banks that don't charge fees, even UBank, which is run by NAB.
Afaik no one other than ING refunds the international ATM operator fee. Overall ING is an excellent deal, except for their home loan mob which does nothing for existing customers.
Completely in agreement. I use ING as my primary transaction account, but their home loans aren't so great.
That kind of information is available real-time on Ozbargain for free
https://www.ozbargain.com.au/node/340963
I had no idea that page existed
My one gripe with this book: tries too hard with the casual chat. The book could have been half the size if it was more to the point, maybe lower
![[Preorder] The Barefoot Investor 2020 Update (Paperback) $10 + Delivery (Free with Prime) @ Amazon AU](https://files.ozbargain.com.au/n/54/581754.jpg?h=4c51f166)
Thanks! Just what I've been waiting for!