This book is full of stories from everyday Aussies — single people, young families, empty nesters, retirees — who have applied the simple steps in this book and achieved amazing, life-changing results. Ways to make more income - 'career compounding' - set goals that matter with your boss, every week branch out how to work on them, pay raise by end of year, climbing the corporate ladder. Or do your own thing and freelance doing stuff you're good at Thank you Scott Pape for sharing such insight and knowledge. I have a feeling it's going to become a bit of a Bible.

If you only ever read one personal finance book, make sure it is this one. Scott Pape once again blows every expectation out of the water with his latest book, a definitive introduction to personal finance.Instead, Vanguard’s offering is a life cycle fund that invests your super based on your age. In simple terms, they automatically reduce the amount of riskier assets, like shares, in your portfolio as you get older and closer to retirement. In all, they make 36 of these adjustments up to your 83rd birthday (with no switching fees), which is far and away the most comprehensive of any Australian super offering. I meet a lot of old people who end up at the end of their life owning their home, but have nothing else to live on. I also meet a lot of older, divorced women who don’t have a home or enough super. First, you should only raid your super as a last resort: if you’re in genuine hardship and you can’t pay your bills. And that one bit of information is incredibly valuable: it can stop you from having hundreds of thousands of dollars of your retirement savings smoked by high fees and poor performance. You could even bribe her with a new pair of shoes if she can find a good high-growth option in a low-cost fund. Because the money she saves getting this right will eventually buy her a whole new wardrobe.

Look, I'm not great with money. I have managed to save some when I've needed to, but usually I'm the kind of person that wants to spend, spend spend. As I found myself unemployed, borrowing money to pay for rent and food and feeling bad about life, I also found Scott's book. This book motivated me to take control of my finances more so than I ever have before. It showed me the mistakes I've made in the past with money and how to correct them. It taught me how to structure my bank accounts and how to be smart with my income so I'm able to handle financial fires when they happen (like not having a job). It taught me the importance of superannuation, allowed me to weigh up the benefits and negatives of property and introduced me to the world of investing. With house prices at a record high the year the book came out, should young people even try and enter the housing market? “I meet a lot of people in their 60s, 70s and 80s and if you don’t own a home then, life is really tough,” he says. “So: yes. Just get a mortgage that you can manage.” I’m sure your mum must feel like she’s being unfairly targeted … and her only ‘crime’ was that she worked hard, saved harder, and made savvy financial decisions! After all, she could have just peed all her money against the wall and retired on the full pension, right?Anyway, the gist of the person’s question was this: he didn’t want his super to be funding war criminals (or Windows 97). This is the best non-fiction book I've read in a long time - and I actually didn't intend to read it. I only started reading out of boredom eating my breakfast where my sister had left it from the day before. He also appeared as the financial expert on the SBS show The Nest in 2008. Pape was also previously a regular guest on The 7pm Project.

Mojo. A place for long-term savings in case of a bigger financial rough patch. Should ideally be 3 months of expenses.

Just understand a couple of things: first, the term ‘ethical’ is about as loose as an over-28s nightclub, so you need to dig in and see what they’re actually investing in, and whether it fits with your worldview.

Scott Pape OAM (born 1978) [ citation needed] is an author, television presenter and radio commentator focused on personal finance. He is best known through the persona, The Barefoot Investor. You'll get a step-by-step open this account, then do this; call this person, and say this; invest money here, and not there. All with a glass of wine in your hand.The main message I took from this book is that small actions (such as changing superannuation company or your bank) can have a big impact on your long term financial well being. Regardless, there’s a very good chance your super fund has dumped any Russian assets it was holding. Since the start of the crisis, most funds have written off hundreds of millions of dollars of Russian investments. Yet the only way to be really sure is to call your fund and ask them.