I have discussed the impact credit cards and the recession have had on my life in the following blog posts – Tuning into My Inner Financial Guru, Unleashing the Debt Noose 1 & Unleashing the Debt Noose 2. One of the financial books I recommended was The Automatic Millionaire. I read it in December but I decided to test a few of the theories presented in the book before writing a review.
The Automatic Millionaire was first published in 2004 in US. The book’s author is David Bach, a renowned motivational and financial speaker who is regularly featured on talk shows and at financial seminars and conferences. He is also behind FinishRich – www.finishrich.com.
The book’s name sounds like it harbours some magical formula for going to bed poor as a church mouse and waking up as Donald Trump. I must admit somewhere at the very back of my mind, that thought did cross my mind. Well, there is a formula allright but it’s neither magical nor miraculous; if it were, Donald Trumps would be a dime a dozen all over the world! Instead the book offers a no frills, candid approach to handling your money wisely and eventually ending up a millionaire one cent at a time through a simple time tested, age old method– savings and investments!
Yes, I know, boring! Only people who earn gargantuan sums of money can save and invest money. How many times have you thought if only you could get a raise, you’d finally be able to put something aside, then you get a raise and still never save anything anyway. Something needs to change and it’s not how much money you make, it’s the way you think about and approach handling your money. No matter how crappy your salary is it’s possible to save and end up a millionaire by making everything automatic.
My favourite bits in the book were the latte factor, paying yourself first and credit card interest rates (I still shiver thinking about that). As I mentioned I tested a few theories from the book in the last 3 months and I can definitely say I’m on my way to becoming a millionaire. Although the book’s content is mostly geared towards the US audience, a lot of the information is adaptable wherever you are in the world.
The Automatic Millionaire was first published in 2004 in US. The book’s author is David Bach, a renowned motivational and financial speaker who is regularly featured on talk shows and at financial seminars and conferences. He is also behind FinishRich – www.finishrich.com.
The book’s name sounds like it harbours some magical formula for going to bed poor as a church mouse and waking up as Donald Trump. I must admit somewhere at the very back of my mind, that thought did cross my mind. Well, there is a formula allright but it’s neither magical nor miraculous; if it were, Donald Trumps would be a dime a dozen all over the world! Instead the book offers a no frills, candid approach to handling your money wisely and eventually ending up a millionaire one cent at a time through a simple time tested, age old method– savings and investments!
Yes, I know, boring! Only people who earn gargantuan sums of money can save and invest money. How many times have you thought if only you could get a raise, you’d finally be able to put something aside, then you get a raise and still never save anything anyway. Something needs to change and it’s not how much money you make, it’s the way you think about and approach handling your money. No matter how crappy your salary is it’s possible to save and end up a millionaire by making everything automatic.
My favourite bits in the book were the latte factor, paying yourself first and credit card interest rates (I still shiver thinking about that). As I mentioned I tested a few theories from the book in the last 3 months and I can definitely say I’m on my way to becoming a millionaire. Although the book’s content is mostly geared towards the US audience, a lot of the information is adaptable wherever you are in the world.
At 228 pages, it's a fast and easy read and I highly recommend it. You can click on the image to the left to purchase the book or at the following LINK
. Happy Saving! 
