Everyone's Commonsense Guide to Becoming Financially Independent

Good finance Book . Simply teaches you to pay yourself first ten percent then pay your bills . In doing so you will eliminate your debt and create a savings that will serve you will in times of emergency .

We purchased these for our nephews, we had also done so for our children. We feel it gives excellent info for young people entering the work force. A true idea how to work savings and investing in to your wages, regardless of how much you make.

This is the 5th time I have purchased this book. The first one was for me. But it is such an easy read, written with the average person in mind, with wonderfully useful info that I give it as a gift to recent grads. Worth reading at any age though!

This is the 5th time I have purchased this book. The first one was for me. But it is such an easy read, written with the average person in mind, with wonderfully useful info that I give it as a gift to recent grads. Worth reading at any age though!

Having been in the "Financial Sector" of our great economy (well, it will be great again after BO leaves office), this is one of the best books for young people. Told in story form it gives them some idea of what to do and what NOT to do concerning their financial lives. Things that our less than great educational system fails to teach young people. I often give this to graduates of college or tech schools. They are amazed.

I came into buying this expecting different advice other than the normal, overused financial tips but soon learned how thick and boring some of the chapters were just to give some simple point that did not need such a winding explanation. I usually enjoy books about personal finances but I regret this purchase unless you enjoy long circumlocutions for simple subjects you most likely understand already from previous reading.

Firstly, the entire first (few?) chapter(s?) were a waste of time. I did not need to hear about the author's fictitious brother's uncle who had a job, but not a mortgage, with a kid on the way, who is home shopping etc.

Yet, I think the biggest turn-off for me was the lack of articulation in how active management is a loser's game - and that having a microscope on expense ratios - and all fees - is critical to long-term investment success. The fact that author ignored such a critical facet of investing was a massive failure on his part as a teacher of financial planning.

Consider a real-life example. Myself, and former co-workers, invested in our tax-deferred 403(b) accounts offered through our previous employer. Why? Because we wanted to be financially responsible. We wanted to save for the future. However, we had no idea that fees could decimate investment returns. In the end, we never saw our principal grow - despite being invested during the recent recovery.

While there were important gems inside, like "buy term life insurance and invest the difference," it is hard to ignore the omission of the massively consequential effect fees have on investment returns.

I saw this book recommended for me, and decided to check it out.

I'm read a lot of personal finance books, and as far as the genre goes this one isn't bad, but it has a lot of general advice. Some of it is good, some of it is not. It's not necessarily inaccurate in the facts stated as relates to their time, it's just that for the average person some advice that includes positives and negatives for a course of action is very, very bad. Case in point, NO ONE should be advised to borrow against the value of their home, or leverage investments. This kind of behavior is what caused the Real Estate Crash of 2008 (Whoops!).

Likewise, telling people that they don't need a budget and can freely use credit cards MIGHT be okay for people who make a whole lot of money, but for the average person there is no way you're going to be able to save for retirement, save 10% AND pay all your living expenses without running out of money if you are paying hundreds of dollars in interest per month. For the average person, a budget is not optional if they want to get ahead. It is a MUST. And being debt free isn't optional. It is ESSENTIAL.

In the lucrative days of 90's you could get away with only doing some things right (as this book advises you to do), but in our modern era you need to live more extreme if you want to have a real future.

Forget this book and read Total Money Makeover. That book is truly timeless, and has practical advice (even simpler than the advice here) that actually WORKS. A few of the subjects touched on in this book are worth researching (tax deductions, supplemental income, various investments), but for the average person this information may not be needed at all.

This book is short enough that you can breeze through it in a few days, but it should inspire you to read other books, not be a source of truth unto itself. Also, everyone in this book is annoying. They are cookie-cutter examples of selfish, self-centered, shallow people that I would never want for friends in a million years.

Oh, and if anyone cares, I went from a negative net worth to a positive one in less than two years following Dave Ramsey's advice. Following the advice of books like this one had me going around in circles.

Some say that The Wealthy Barber is outdated. I read the revised third edition which was published over twenty years ago. Times have changed but the words in this book is still relevant for the everyone that wants to become financially independent. If you look at it as your first book to read as you make your path to reach that goal. Although, I have been doing much of what is written, it was still helpful. I would recommended this book to those starting out on their own and don’t know what to do with the finances. He covers not only saving, but life insurance, with a bit or taxes and real estate. Not in depth though, but more as a starting point. Easy and fun read that I would recommend to everyone who wants to a push in the right direction for their personal finances.

Having walked past this book several times in as many years, I am glad to have finally read it.
As I had walked past this book, I kept thinking, “Yeah. There might be something, but I don’t want the technical stuff, just yet.”
Well. It’s not the “technical stuff” at all.
“The Wealthy Barber,” is like stepping back in time, and into the “Andy Maybury Show.” Only the characters here are: A wise barber, three students: Dave, a teacher, whose wife is self-employed and pregnant); Dave’ self-employed, wealthy sister, Cathy, a landscape business owner; and their friend Tom, a plant worker who is single. The three other characters are former students of the wealthy barber, who hang around the shop, and give their input on what they have learned from the barber.
It is so cool how the author has managed to turn the seven parts of a basic financial plan into seven humorous months of lessons to his readers. And, using the former students, he has managed to show what of his lessons matter the most, and where the readers are free to either ignore or make their own decisions about some of his lessons.
I was, however, wanting more information on taxes than what this author provides.
No matter what your background, your money beliefs, or your age, this is an excellent book that will enhance your life. It has does so for me.