Wednesday, June 24, 2009

Book review

Earlier I recommended this book by Ramit Sethi and I just breezed through Automatic Millionaire by David Bach.

When I say breezed through that is both good and bad I think. Good because most of the principles that he talks about K and I already do. Good because it is always a good feeling to see others basically endorse the path you are on. Bad only in that I didn't learn a whole lot so there was a time loss of some sort (even if it was minimal because the easy nature of the read).

Couple of highlights I will mention that stuck with me

1. The book combines principles with a story about a specific couple that puts a life form on the ideas, a good writing technique even if it is a little corny.

2. The two bigs themes of the book are forced savings (its automatic so you don't think about it) and conquering what it calls the latte factor (which is applying daily spending to the big picture and if you can control that it very much helps one see the big picture).

3. It is a little dated and has a pre 08 crash feel to it but that's o.k. just remember everything in context.

4. One thing I really liked about this book is that the last chapter actually specifically talked about tithing, automatically, if not necessarily to a church than to giving and about the rewards of tithing. Don't see that a whole lot in financial books and I liked it.

For anything more in depth you can check it out for yourselves. Since I have taken over my schools interlibrary loans I have gotten into the borrowing phase instead of buying phase of books and I recommend it to anyone trying to take control of their finances.

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