Three Great Personal Finance Books - 5MF031
The Meaningful Money Personal Finance Podcast
Pete Matthew
4.9 • 1.7K Ratings
🗓️ 1 February 2019
⏱️ 6 minutes
🧾️ Download transcript
Summary
Listener Shak asks for my three book recommendations for folks getting started with their finances...
Transcript
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| 0:00.0 | Hi folks and welcome to another five minute Friday here on meaningful money. |
| 0:03.2 | Great to have you with me. |
| 0:04.0 | listener Shack has asked me for my three book recommendations, my top three books for folks at the start |
| 0:16.5 | of their personal finance journey. It's a great question, Shaq, and more difficult to answer |
| 0:20.8 | than I thought it might be, but I think I've come up with my top |
| 0:23.7 | three and that's what we're going to talk about today. |
| 0:25.6 | So let's put five minutes on the clock down here. |
| 0:28.0 | Say a quick thank you to my friends at Seven Investment Management for continuing to sponsor |
| 0:31.2 | the show and let's crack on. |
| 0:33.0 | The first is this one, The Automatic Millionaire by David Bach |
| 0:37.0 | and it's one of the first personal finance books that I read |
| 0:40.0 | after hearing an interview with David Bach on a training course that I was on. |
| 0:44.1 | Now if you ever hear me talk on meaningful money about paying yourself first, |
| 0:48.8 | that whole principle comes from this book. |
| 0:51.3 | In the opening chapter, David Bach, who is or was a practicing |
| 0:55.6 | financial advisor in the US, he tells a story of a couple who came to his office, |
| 1:00.8 | they rolled up in a fairly ordinary car, they didn't look or dress anything special, |
| 1:07.0 | and they wanted to talk to him about retiring. |
| 1:09.0 | And in his mind, he'd already dismissed them as probably not being able to afford his services or have enough |
| 1:15.0 | money to meet his minimum investment levels. |
| 1:17.8 | But it turned out they were extremely wealthy and the conversation that he had with them is basically unpacked throughout the rest of the book. |
| 1:26.0 | And David Bach distills it down to paying yourself first and then shares about how to do that. |
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