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The Barefoot Investor for Families $9.50 + Delivery ($0 with Prime/ $39 Spend) @ Amazon AU

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The Barefoot Investor for Families $9.50 + Delivery ($0 with Prime/ $39 Spend) @ Amazon AUAffiliate
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Taegukgi on 27/06/2023 - 12:22 amazon.com.au (1066 clicks)
Last edited 27/06/2023 - 12:23 by 1 other user
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Cheapest since late 2020 according to CCC.

About the Author Scott Pape is the founder of the Barefoot Investor. His two bestsellers, The Barefoot Investor: The Only Money Guide You'll Ever Need (2016) and The Barefoot Investor for Families (2018), have sold over 2,000,000 copies in just three years. For well over a decade Scott has reached millions of Australians through his national weekend newspaper columns, appearances on TV and radio and his bestselling books. He teaches people from all walk of life how to become financially independent. The Barefoot Investor: The Only Money Guide You'll Ever Need is the #1 bestselling Australian title of all time. Since 2016, Scott Pape has dominated the Australian Nielsen Bestseller charts, holding the overall #1 bestseller spot in 2017, 2018 and 2019. In 2010 independent research firm CoreData found that: Scott Pape is considered the most knowledgeable regarding financial matters, topping the ratings in the areas of superannuation, investment, taxation, insurance and economics. Pape is also considered the most trustworthy, truthful in how he presents himself and in touch with financial matters that affect everyday Australians. In 2014 Scott was chosen to assist with the federal government's national financial literacy in schools program. The Barefoot Blueprint has grown to become one of Australia's largest independent wealth-building communities. Scott launched his Money Movement in 2109: 'My goal is that by teaching our kids, we help their parents too. And when we help the parents, we change the nation.' Scott Pape's Money Movement is a major TV series on Foxtel, to be aired in 2020. Scott lives on a farm in country Victoria with his wife Liz and their three kids and is often seen belting around in an old ute that doesn't need to be locked.

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closed Comments

  • RichardL on 27/06/2023 - 12:24
    +6

    Amazon price-matching K-mart

    • john_conner on 27/06/2023 - 18:47
      +2

      “The Only Money Guide You'll Ever Need“ until he writes The Barefoot Investor for Families

  • ThePunchingBag on 27/06/2023 - 12:30
    +7

    I thoroughly enjoyed reading this book… Even though I'm good with numbers (& the information in the book is basic) I was amazed at how many $$$ I was wasting… Followed the steps & myself & my family are in a much better position financially…

    This also gives me more to spend on OzBargains

    • DiscountForThee on 27/06/2023 - 12:33
      +8

      how many $$$ I was wasting

      Any examples you'd be able to share? :)

      • robo11 on 27/06/2023 - 12:48
        +9

        probably wasting money automatically to subscription services you don't use often, paying business' surcharge by not using cash, over-spending on insurance premiums, not paying down your principle loan faster and not getting into cc or personal debt. The common stuff.

        • DiscountForThee on 27/06/2023 - 13:19
          +20

          I mean these are all things I'd expect from someone who isn't good with money - but poster above said they are and got other tips haha

          Also, I'd probably save like $10 a year by paying with cash and I'm not sure it would be worth all of that effort tbh

          • TwentyTwoCarats on 27/06/2023 - 13:23
            +18

            @DiscountForThee: Mr Pape definitely has Turkish subscriptions via VPN but he can't write about that

          • robo11 on 27/06/2023 - 13:33
            +1

            @DiscountForThee: PunchingBag said they were good with "numbers" but amazed how much $$$ s/he was wasting. The two can be mutually exclusive especially when you find hidden costs eating away at your finances. Not many look at their superannuation, and in other contexts rely on loyalty with businesses in the belief they are getting the best deal.

            A lot of businesses have a business because they rely on your apathy for not managing your money or doing your research.

            One simple example: I notice this through some delivery services; whom instead of charging a flat fee delivery, they somehow also magically add incremental price hikes on a per line item of order whilst still charging a delivery fee on top of that (where the business gets none of the gratuities!).

            Small things do add up and then by the end of the financial year you exhale a disappointed 'sigh' = "where did my money go???", or "did it go to that!" "Unbelievable…what a waste of money." (Usually doesn't happen when buying from OzBargain deals ;))

          • alikazi on 27/06/2023 - 21:08
            +7

            @DiscountForThee: You could also save $10 by NOT buying this book. You're welcome.

        • 0806449 on 27/06/2023 - 14:43
          +2

          Now that I'm not a Sneakerhead, I realised I've improved my cashflow by going barefoot.

          I think I save more by having cash in my offset account.
          I make purchases with Credit cards and get points, pay off credit card in full monthly.

          How can I calculate if I'm better off with having a Saving account as well vs. having all cash in offset?

          • WaKkO1 on 27/06/2023 - 19:42

            @0806449: All cash in offset is definitely the best. Interest on savings accounts is lower than mortgage interest rates

            • Igaf on 27/06/2023 - 21:52
              +1

              @WaKkO1: Not always, but in most cases, esp after tax.

              Simple enough calculation @0806449.
              If home loan interest rate > savings interest rate after tax then offset is your winner.

              Best current savings interest is ~5.5%, After "typical" tax of around 30% (ymmv) that becomes ~3.85%. Most home loans will (soon) exceed that by a margin, if not now then when they move from cheap fixed covid rates in a few months time.

              https://thepropertytribune.com.au/guides/finance-guides/home…

      • tessel on 27/06/2023 - 14:31
        +3

        Yup. Best thing to learn from this book is to make a brand and sell something. Package it right, target the right audience and build that list.

      • ThePunchingBag on 27/06/2023 - 15:25
        +2

        Just wasting money on crap unfortunately… Set up my buckets & only spent money from my splurge bucket on crap & I was amazed how much I was saving/have saved over the last 5 years…

        robo11 has a couple of examples above as well of what I was not doing correctly…

        Also I no longer have my $5K credit card maxed out… I haven't actually used it for 3 years…

        Again it's all basic stuff but actually reading it made a world of difference to me… It may not others but that's ok… All I know is it worked & is still working for me…

    • Igaf on 27/06/2023 - 15:11
      +1

      @ The PuncjingBag Thanks Scott. Can you afford shoes now?

      • ThePunchingBag on 27/06/2023 - 15:29

        Have plenty of pairs thanks… But by that spelling I'm not sure if you're talking to me ???

        • Igaf on 27/06/2023 - 15:36
          +1

          j and h not next to one another on your keyboard?

          Good to jear you got sometjing out of tje book and actually implemented it.

  • youngchinaman on 27/06/2023 - 12:31
    +14

    I just subscribe to Ozbargain. Works for me.

    • bemybubble on 27/06/2023 - 12:43
      +9

      Until you buy $h!t you don't need. Then you become one of mr barefoots examples :P

      • shole on 27/06/2023 - 12:44

        so true lmao

      • Skullytor on 27/06/2023 - 20:28

        He-man toys!!!
        But I figured out if I buy two when on sale, I can sell the 2nd one for more than I paid. Wonder if that's in the book?

    • Thrifty Dan on 27/06/2023 - 13:15
      +6

      You also save $9.50 not buying it!

      • xoom on 27/06/2023 - 14:13
        +2

        The real bargain.

        • Thrifty Dan on 27/06/2023 - 14:29

          This is the true bargain. It’s like instant discount vs. Cashback. You definitely receive the discount but often not a Cashback.

    • mr_vino89 on 27/06/2023 - 13:20
      +4

      The Barefoot OzBargainer

      • xoom on 27/06/2023 - 14:16
        +2

        Scotty should totally write this book.

  • podilamaya on 27/06/2023 - 12:35
    +1

    looks like the book was published around 2018, so some data and advice might not be correct, but the concepts should be still valid.

    • M00Cow on 27/06/2023 - 14:11

      The advice has been the same for thousands of years. Don't spend what you don't have.

      • xoom on 27/06/2023 - 14:13
        +3

        Though it was dont buy things that you dont need to impress people you dont like with money you don't have.

        • M00Cow on 27/06/2023 - 14:16

          Obviously your time in gaol has been well spent.

          • xoom on 27/06/2023 - 14:17
            +3

            @M00Cow: Tax payer funded vacation. 🤣

        • altomic on 27/06/2023 - 16:19
          +1

          bring on the $368,000.000.000 submarines

          • Antikythera on 28/06/2023 - 06:13

            @altomic: if I've learnt only one thing in my life its never skimp when spending on submarines, tyres and women.

      • AustriaBargain on 27/06/2023 - 14:34
        +2

        Unless you’re buying houses in a property market that seems ensured of unlimited growth because half the government is in on it.

      • zuruhara on 27/06/2023 - 15:39

        Plus the eighth wonder of the world….

  • Bid Sniper on 27/06/2023 - 12:38
    +3

    tl;dr, save and buy property

    • xoom on 27/06/2023 - 12:48

      Yeah. Easier said than done. But if you adopt joe hockeys teachings. Perhaps?

      • Bid Sniper on 27/06/2023 - 13:33
        +4

        The great sage Joe Hockey, apparently we will live to 150 years old, so $1.5M debt on a average wage isn't a problem.

        Thats right we just need higher paying jobs, like this $500K one he on doing ??????

        • jv on 27/06/2023 - 14:18

          so $1.5M debt on a average wage isn't a problem.

          Why would you have $1.5M debt if on a average wage?

          • dangerdanger on 27/06/2023 - 14:59
            +6

            @jv: Because he / she bought a one-bedroom shoebox in sydney

    • 2jzzzz on 27/06/2023 - 13:09
      +2

      Scott actually spruikes buying and paying off your PPOR, but then investing into shares (ETFs rather than investment property). But also have cash buffers in case of emergencies

      • Bid Sniper on 27/06/2023 - 13:34
        +2

        Yep just go buy a PPOR, you know worse house on best street, you know if he can do it anyone can.

      • muwu on 27/06/2023 - 13:38
        +1

        @Bid Sniper

        Yeah, he favours a more anti-debt approach to investing, which means he doesn't sound like he gets too much exposure to direct property ownership.

        He's more personal finance 101, things like fixing your cashflow by rationalising your expenses to realise savings, and using it to remove debt then invest. The investing, which is never prescriptive in these sort of personal finance books, is broad and long-term - super investing that's personalised to you and lowering fees, as well as contributions to increase it's balance and reap the tax efficiency, and I don't recall him being specific with investing outside of super except having the goal of achieving savings to actually allow you to do it. I reckon he's the type of guy that has a core investment in broad sector equity funds (he's probably more LIC maybe some managed funds rather than ETFs, moreso because of his generation and influences) and probably either had or still has enough interest in following markets that he does some satellite single stock picking. If he does property, he probably prefers the lower cost, lower hassle, greater exposure of REITs, plus or minus the unlisted property and infrastructure you get primarily in super. No idea if he does direct property outside he's PPR, probably considering he's net worth and likely favouring a couple of assets to further diversify, in which case I'd see him being more of a commercial property investor rather than residential because the positive cashflow would better support his personal finance ethic.

        Anyway, the cliche that direct residential property investing is the only path to wealth for an Australian, kinda checks out because it's worked for decades, probably will continue to work (but probably with a bit more muted long-term growth), but if you have enough education on all types of asset classes available to you and how to construct a portfolio based around an idea of modern portfolio theory, you'll likely achieve a similar and probably marginally better result with a lot less time investment, hassle, sweat equity, with lower risk.

        • Bid Sniper on 27/06/2023 - 14:06
          +1

          Appreciate the overview. I have read the book but I didn’t find it particularly insightful.

          Its would be useful as a primer for someone starting in the workforce, reduce their spending and think long term etc. However, a lot has changed, and strategies listed would be impossible today, particularly in city area where majority of people live. That’s probably more a criticism post 2008 economic climate than the author. Certainly, ways to invest but book doesn’t go into particular depth, better just use free resources online, its more relevant and save their money.

      • tessel on 27/06/2023 - 14:34

        Rich dad poor dad was buy property, pay interest only, invest principal you would have paid into bank shares, sell shares and profit, pay off mortgage. Rinse and repeat. Looking back now after 25 years of was a very solid strategy. Should have, could have, would have.

  • b-radicool on 27/06/2023 - 12:51
    +1

    Shame it hasn't been updated since 2018.

    Might be better to get the main one which is more regularly updated?

    • Lord Fart Bucket on 27/06/2023 - 13:07
      +4

      What do you mean? It's had a family version, a kid version… all great money spinners for the author.

    • nephilim on 27/06/2023 - 13:18

      Only big thing family wise thats changed is vanguard now has kids accounts.
      Which is pretty big, considering doesnt tax much for a kids saving account to go over the tax-free threshold

  • tsk2 on 27/06/2023 - 13:18
    +9

    Didn’t feel that it offered a lot to be honest. Borrow it from the library.

    • WwDesi on 27/06/2023 - 13:24
      +1

      Yeah that’s what I did not that great it’s all common sense things

  • WwDesi on 27/06/2023 - 13:23

    Anyone read this one any good?

    https://www.booktopia.com.au/easy-money-joel-gibson/book/978…

    • robo11 on 27/06/2023 - 13:37

      …I'd buy that for a dollar!

  • kyr0k1 on 27/06/2023 - 13:29
    +1

    Step 1: Use OzBargain.

  • caitsith01 on 27/06/2023 - 13:34
    +8

    I tried to follow this guy's advice to write a series of best selling books telling people not to spend more than they earn, but it didn't work.

    • typhoonadventure on 27/06/2023 - 14:18
      +2

      You forgot the crucial part - sell advice to idiots who are bad with money on how to save money without offering any practical advice that fits their issues beyond "spend less, make more".

      • killingtime on 27/06/2023 - 22:53

        he's got to dumb it down or no one would read it

        • typhoonadventure on 27/06/2023 - 23:29
          -1

          yes and no, there becomes a point when you are repackaging something out there that's already there, like an elon musk, present something old or failed as new and interesting.

          This can be a good thing and a bad thing, repackage something already good bring it to a new audience.

          Then you get the bad, repackaging bad stuff (in this case there is some pretty bad advice given by this guy, I wouldn't put this book up there in it, but it is pretty generic and lures people into following this guy as a guru and a lot of the crap he has put out there is really bad advice).

          That's when it goes from a harmless book to people following the bad advice like sheep and not developing skills out of it like a finance workshop.

  • botchie on 27/06/2023 - 13:41
    +1

    is one of his tips to buy proprtee in Sydney?

    • muwu on 27/06/2023 - 13:47

      No.

  • OfTheOverflow on 27/06/2023 - 13:44
    +7

    Borrow from your library. You'll make old mate proud.

    • Kuzdog on 27/06/2023 - 19:14

      Also available on audiobook at some libraries. My local library and online accounts and online audiobook access.
      Even registered online.
      I’m in Sydney.

  • Feelsbad on 27/06/2023 - 13:56
    +2

    Check e-book version
    Ctrl-F "Muzeeb"
    0 results found

    Wasn't for me.

  • M00Cow on 27/06/2023 - 14:08
    +2

    The Barefoot Investor for Families

    Ditch the kids, they're financial quicksand.

    • xoom on 27/06/2023 - 14:12
      +3

      Instructions unclear. Now im in jail for child abandonment and endangerment.

  • typhoonadventure on 27/06/2023 - 14:17
    +12

    He's well renound on r/finance for his top piece of financial advice and top action.

    Top advice : If you are spending more money than you have coming in, get more money.
    Top action : Charge people who are bad with money for generic advice anyone can lookup.

    Look I get it, some people swear by this guy, and you get people like my sister who never realized how lucky she had been until she wasn't who still hands out financial advice and in 2010 was telling me to put all my money into property for the mining boom despite me having worked out there and telling her it was a bad idea.

    It's now 2023, i'm debt free and live within my means, she's in debt for millions hoping the property market recovers and that shes totally "gaming" credit cards for rewards and despite having dual incomes in excess of 100k….. we're on a lower income and doing better than her.

    Our xmas present to the kids was toys we got on clearance from ozbargain, her present to us was a copy of this idiots book and critisism on how we live our live and buy all our clothes from op shops as being "icky".

    Read into that what you will.

    • Splashtash on 27/06/2023 - 14:34
      +4

      So glad you shared your opinion. So soothing when people talk reality and make sense ^ ^ (no sarcasm btw)

      • typhoonadventure on 27/06/2023 - 15:46

        Cheers, again not knocking anyone who gets anything out of it, just a lot of people treat this as a solution for problems they don't even want to begin to comprehend and work on.

        If anyone reads this and gets something out of it great, but hey, no shame in taking an entry level finance workshop as well

    • AustriaBargain on 27/06/2023 - 14:37
      +1

      Property market will double in value in 10 years. Gov will let in as many people as necessary to ensure it.

    • Marrk on 27/06/2023 - 14:56
      +3

      It sounds like the real issue is with your sister..

      As for your other comment:
      "sell advice to idiots who are bad with money on how to save money without offering any practical advice that fits their issues beyond "spend less, make more"."

      I listened to the audio version of his standard book and got some value out of it. He may not be for you, no reason to go around calling people idiots though. I bet you didn't end up reading that gifted copy of the book, in which case you are basing your opinions on Reddit..

      The same sort of thing can be said for weight loss, "eat less, exercise more", that doesn't mean that there isn't more to the topic though.

      • typhoonadventure on 27/06/2023 - 15:39

        No real issue with my sister, love her and her kids to death.

        It's also worth adding I hold finance qualifications which I ended up with for another larger qualification, theres really not much in his stuff that a basic school or tafe entry level finance workshop doesn't cover.

        For a starting point for someone who has not heard the advice before it can be constructive stuff to enter into thought. The bad point is when you take his advice as the only advice (even this guy has stated not to do so) or as one size fits all advice or treat it as a religeon.

        Sadly my sister and a lot of other people fall into the treating it as a religeon part.

        I actually did end up reading it, anyone who reads it I suggest you also read any of the text books from certificate I, II or III in finance from your state or territory's tafe if you can, it will help to counter balance a lot of stuff in there as well as building practical skills that give people a greater understanding of things.

    • Make it so on 27/06/2023 - 15:11
      +1

      Sadly, for many people, these things are not "common sense". I don't understand why.

      I agree with your philosophy. Live within your means, and know how to appreciate doing so. If you're not happy with having enough, you certainly won't be happy with having more.

      • typhoonadventure on 27/06/2023 - 15:44
        +3

        this 1000x over. One part not mentioned is when my sister fell into the mining trap I worked in a job that paid very well at the time, and later on was offered a job that paid insanely more.

        I didn't take it for a variety of reasons, and I now look after my father and do a lot of stuff I love doing and benefit my community. My sister was 100% against that and still to this day doesn't understand why i'm in a more flexible role and doing what I do, when I could have been in a job paying $120k 10 years ago and turned it down.

        I have friends that took similar roles and so on and you may be aware of how right you are, more money doesn't always mean more happy, the same people who have problems now with their spending and habits, you give them more money, the problems are still there.

        I've sadly lost a few mates to that as well as the pressures and mental health issues these roles came with as well, and one of the huge disagreements that's come out of things is their lack of sympathy for the people the were trying to exploit. I had a mate who topped themselves at the mines, very little understanding about it and only wanted to talk about her latest unsolicited financial advice.

    • ThePunchingBag on 27/06/2023 - 15:33

      Again it's all basic stuff but actually reading it made a world of difference to me… It may not others but that's ok… All I know is it worked & is still working for me…

    • Skullytor on 27/06/2023 - 20:36

      I got a cool skull t-shirt from the OP shop. I'm now sold! And Costco has quailty polos and Ts for low low prices new.

  • Overtime2000 on 27/06/2023 - 14:36
    +2

    the best financial advice for families is - don't start one!

  • vchoy on 27/06/2023 - 14:49
    +1

    ozbargain is a 'double edge sword'.

    You can save and get a baragain.

    and you can 'over save' lol

  • freewhere on 27/06/2023 - 14:56
    +3

    You can borrow it for free from one of nearby libraries

  • paddle pop lion on 27/06/2023 - 15:40
    +11

    I followed this guy for a long while and his advice is nothing more than financial literacy for morons. I've read his book and was subbed to his barefoot blueprint newsletter for years.

    His own success made him believe that his way is the only way.

    He has flip flopped on his own lessons over his career and is a condescending twat in his newspaper Q&A column
    He is against all debt because he thinks people are too stupid to use it wisely so his mantra is essentially spend less than you earn.
    He used to be against buying houses (even PPOR) and recommended renting but changed his tune when he had a family.
    He tried a thing in his barefoot blueprint subscription where he was gonna show you how to turn $100,000 into a million buck over a long timeframe, well that project lasted about 12 months and he didn't beat the benchmark.
    He tried to sell stock recommendations and teach people how to value stocks but that also underperformed and now he says invest in ETFs.
    He has bashed crypto and leveraged property investors for over a decade despite them being the biggest winners post GFC.

    If you are genuinely clueless with money you might get something from this but for anyone else looking to take the next step towards financial freedom; i'd give it a miss.

  • plmko on 27/06/2023 - 18:20
    +1

    Let me give you the bottom line: anyone that tells you to buy ETFs because they are safe and you will get benchmark returns over the long run are lying because they do not consider the idiosyncratic risk that ETFs are not worth the equity they say they are worth.

    Think about SVB saying they had collateral for the equity they hold but got found out it was just worthless junk CMBS. Passed all the audits, was completely legal and fully disclosed, yet worthless. Same thing with ETF.

    I think should something happen in the next 6 months many people will get a very rude awakening about what they really hold………

  • The Wololo Wombat on 28/06/2023 - 03:35
    +1

    I really don’t like this book. I skim read it when it was gifted to me. I know I have a toxic opinion here… but if you’re an absolute pleb who lacks basic financial wisdom… then this book can help you be mediocre.

  • johnno07 on 28/06/2023 - 08:02
    +1

    There is is a weirdly prevalent sense of of financial elitism in this thread. I personally didn't get a huge amount out of reading the book 5/6 years ago, but I absolutely know people who would. Not everyone is financially savvy - indeed, most people aren't. I think this is a major failing of school curriculums. If The Barefoot Investor can help a few people who need it the most, what is the harm?

    • pizzaguy on 28/06/2023 - 09:47
      +1

      ^ This comment.

      Some people are more money-savvy than others and get uber-wanky about it with their negs here.

      It's like they're not hungry, so they're going to neg every grocery/food deal and say "It's useless to me and should be to everyone!".

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