Fridays are easy days, makes me feel I should postpone this review to Monday. Reason being am asking myself who wants to read an accounting related post on a Friday especially in the afternoon. But this book the wealthy barber is one full of humor, easy flowing and more of a novel than a serious business book. Personally I first thought I was going to learn the how and tips of saving money to be wealthy, I was wrong.
The wealthy barber by David Chilton is an enjoyable book that leads you to personal financial planning. The wealthy barber who is the mastermind to financial freedom advices his clients who come for monthly cuts who to their surprise they meet a humble man, leaving ordinary lives but also witty and smart at the same time. He narrates of his humble beginnings, dropping out of school when his father died and having to take care of his mother and only sister. David Chilton’s secret recipe to being wealthy is as follow;
He emphasizes on living within your means and the value of paying yourself 10% first. When you live within what you can afford, sparing 10% becomes very easy without any struggle. Planning in advance for your future infers to being patient and seeing it grow using compound interest modes of growth.
He answers he question if you should buy a house or not. Talks about insurance, writing wills, home ownership, taxes and debt repayment.
At the end of it all, Dave gives us more insights into daily savings, desire to do more financial research and wanting growth.
Is this a book I would want to reread? Definitely, I want to hear the wealthy barber speak to me all over again. Money matters are important part of our lives.