Review: The Barefoot Investor

The Barefoot Investor book isn’t new, but it’s one I’ve simultaneously been intrigued by and slightly dismissive of. I thought: Surely it’s a bit gimmicky? But I figured it’s unfair to write off a book before even reading it, so I recently dug in.

Reader, I’ve been wary of it for no good reason.

While Scott Pape’s The Barefoot Investor isn’t the best written book I’ve ever encountered, and I at times found its text and analogies a little cheesy and hyperbolic, I’ll also heartily acknowledge that that’s not its need or design. Rather, the book is functionally and accessibly written serves its purpose well.

That purpose is to make confusing and overwhelming financial issues interesting and understandable to lay readers. And also to offer an alternative to budgeting, which is akin to dieting and destined to fail.

Providing the advice in three parts with the umbrella themes of ‘plant’, ‘grow’, ‘harvest’, under which sit chapters that include information about scheduling a monthly date night to eat good food and make tackling financial talk fun, ‘domino-ing’ (i.e. lining up and knock over in planned succession) your debts, buying your own home, and maximising your super. None of which sound particularly exciting, but each of which are peppered with gems of achievable information that neither require a finance degree nor a tonne of time, and that together provide a cohesive approach to well and truly sorting yourself financially.

For example, I ended up downloading a useful spending tracking app and slightly tweaking my mortgage and superannuation set-ups based on some of the takeaways. I’ll be contacting my bank to renegotiate my mortgage interest rate once they’re open on Monday. (Pape handily even provides a script for such renegotiations.)

Through reading this book, I finally started to understand how not to budget, which has always seemed boring and inflexibly strict, but how to split money among buckets that then ensure there’s always money available at short notice for unexpected expenses while simultaneously building compound interest. For the first ever time in my life, I actually found myself enjoying reading about and figuring out how to finesse my finances. If that isn’t a resounding sign of the success of a book, I don’t know what is.

Hearteningly, Pape’s advice is about long-term financial control and comfort rather than getting rich quick. It’s solid, measured advice that he revisits and revises annually to ensure its information and pop culture references are still current.

So I happily write that I stand reminded that books become bestsellers for a reason. The Barefoot Investor conveys crucial information in ways that suit lay people like me. Which is to say it cuts through the guff few of us understand. It’s definitely worth at least a flick through if not a proper sit-down read.

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Fiona Crawford

Fiona Crawford is a freelance writer, editor, blogger, proofreader, and voracious reader. She regularly appears as a book reviewer in Australian BOOKSELLER+PUBLISHER magazine. Fiona is also (unfairly) known as the Book Burglar due to her penchant for buying family members—then permanently borrowing—books she wants to read herself.

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