I’ve read a lot of personal finance books – I mean A LOT – and for the most part, unless there is a hook like the latte factor, or it is written in a unique “story” perspective like Jonathan Chevreau’s Findependence Day, the books are boring and the advice all sounds the same.

Wealthing Like Rabbits proves that you can make personal finance interesting when you combine clever story telling with humour and common sense.

Wealthing Like Rabbits

Author Robert Brown takes a page from David Chilton’s The Wealthy Barber Returns, using sharp wit and original examples to drive home the point that making smarter spending decisions will ultimately lead to a happier, more fulfilling life.

The book is legitimately funny.  I won’t spoil all the good stuff, but one worth sharing comes from a rant about a MasterCard commercial playing during an episode of Gail Vaz Oxlade’s Princess.

“What’s next? Are Molson and Labatt going to buy some time during an episode of Intervention Canada?  How about Kentucky Fried Chicken offering up a deal (f#*k it, let’s get a bucket!) during an episode of The Biggest Loser.  My mind wanders.”

Wealthing Like Rabbits is written as an introduction to personal finance and is clearly aimed at 20-somethings. That said, the book is highly engaging and an enjoyable read for people at any age and stage of life.

Ideas that I agreed with

Rabbits breed quickly.  Your wealth won’t multiply as fast, but regular contributions will grow into substantial wealth over time.

The Home Buyers’ Plan is a bad idea.  Your RRSP is for retirement.  Raiding it to buy a home is foolish because you’ll sacrifice years of compound growth before you put it back – if you ever do.

“Wouldn’t it make sense to phase this plan out over time while simultaneously slowly changing the rules so that first-time home buyers only need 10% down to buy their first homes without purchasing mortgage default insurance?”

If you are putting less than 20% down so that you can buy more house than you can afford, then you are asking for years of financial hurt.  Couldn’t agree more.

Balanced frugality.  The idea that saving for the future means sacrificing today simply is not true.

“Just because people who live within their means don’t have an obsession with possession doesn’t mean they never buy themselves anything nice.”

Budgeting – Many personal finance experts argue passionately about old school budgeting techniques, like using jars, envelopes or an Excel spreadsheet to keep track of your finances.  Others say to just pay yourself first and spend the rest.

Related: Why budgeting isn’t a waste of time

Robert Brown agrees with both approaches, saying that people should do whatever works best for their own situation.  However, each camp can benefit from taking a hybrid approach – pay yourself first and budget the rest.

Take advantage of the RESP program and the generous 20% government match.  Apply for a social insurance number and set up an RESP as soon as your baby is born.

Ideas I didn’t agree with

Many Canadians are struggling with debt, and I get that we need some tough love now and again.  But a 22-page chapter explaining why we should avoid credit cards was a bit much.

The author made some good points, but lost me when he used the ubiquitous “freeze your credit card in a block of ice” tip to help control impulse spending.  By the way, anyone who suggests this has obviously never tried running hot water over a block of ice.  Thaws in seconds.

The author’s main argument is that people tend to spend more when using a credit card and that credit card companies have made it even easier to spend money by introducing tap-and-go, or pay-wave technology.

I don’t buy it.  If your spending is dictated by your budget, why does it matter what method of payment you choose once you get the checkout?

Do you get a discount for using cash?  Nope.  What about debit?  Your bank might charge you depending on your banking package.  So, why not use the method of payment that puts a little something back in your pocket at the end of the day?

I doubt that “tap” or “wave” has made it easier to spend money on your credit card, as if the decision to buy something has anything to do with the ease or speed of paying for it at the checkout.

  • Cashier: “Sorry sir, you’re going to have to enter your PIN”
  • Me: “Are you serious?!? Ugh, just forget the whole order.”

The author mentions using a spousal RRSP as a great way to split income in retirement if one spouse earns significantly more than the other.  But with the ability to split pension and RRIF income in retirement, this feature is now redundant.

Finally, the author insists that sound financial planning isn’t that complicated and most people would be better off without an advisor, at least “until you have a paid-for home and $500,000 saved in your RRSP”.

Related: Why fee-only advice might be right for you

Sure, many advisors might give you the same basic advice – maybe – but in my experience some people just need a second opinion, someone to provide a sober second thought, and someone to help guide them on their financial journey.

Final thoughts

Make no mistake – just because I didn’t agree with the author on a few points doesn’t mean this is a bad book. Indeed, Wealthing Like Rabbits was the most entertaining personal finance book that I’ve read since David Chilton brought the wealthy barber out of retirement.

Robert Brown wants us to use wealth as a verb and replace saving with wealthing when discussing any saving that increases your net wealth.

So, here’s to wealthing our way to financial freedom!

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60 Comments

  1. Jon King on September 14, 2014 at 5:38 pm

    Sounds like a very interesting read. The most important thing I did when I decided to take control of my finances was I began tracking my monthly expenditures, income and contributions to savings in an Excel spreadsheet. It became the foundation for implementing strategies that reduce my expenses and for establishing a long-term financial plan.

  2. Stephen @ HowToSaveMoney.ca on September 14, 2014 at 5:45 pm

    Great review Robb. I really like how you pointed out the areas you agreed with most along with those that you disagreed with. That added a lot of value to the review.

    You know I’m an advocate for credit cards as well to those that can manage them. I also loved your joke about the PIN. However, I only half agree with your disagreement. I think that the amount of overspending caused by plastic (debit is almost as bad as credit) is often over stated by personal finance pundits, I still believe it is a factor. However, I don’t think it is a factor that people who are good with budgeting and money in general should worry about. The rewards more than pay for that small difference.

    I’d love to read the book, so the most important thing I did when I decided to take control of my finances was before I had any real income and I decided to shop around for the lowest price. Price matching and beating came shortly after and the rest is history. I’ve saved a fortune over the years and don’t usually need to budget because I’m careful what I spend in the first place.

    • Echo on September 14, 2014 at 6:41 pm

      Thanks Stephen! I’d be interested to see a comprehensive study – one that’s not done with college kids – to see if the overspending is really that noticeable. The one variable is that people who use rewards cards may just be more affluent and spend more money then people who use cash. Sort of like how the investment industry says people who use an advisor have more wealth than those who don’t. That doesn’t necessarily mean the advisor is the reason for the increased wealth.

      Finally, I think tap and go was designed with retailers in mind. It gets people through the line faster, so the retailers can handle more volume. Think of peak traffic times at drive-thru restaurants. If you can save 20 seconds every transaction you can service more customers, who won’t mind a long line-up if it moves quickly.

  3. Blany on September 14, 2014 at 6:08 pm

    I’ve been hearing about this book on a couple of different blogs. Sounds like a good read. I love and still go back to read Chilton’s work. To me the most important first step is the obvious one. Pay your self first. It has been working for me. I’m looking forward to reading this book. With a little luck maybe I’lll win my copy!
    Thanks for the review.

  4. Engineering Wealth on September 14, 2014 at 6:59 pm

    Nice review. I enjoy reading personal finance books as well. The Wealth Barber Returns is my favourite. Wealthing Like Rabbits sounds promising.

    Like most people, my first step was I paid myself first (~20%+ of income) and began investing wisely for the long-term, in mostly dividend paying stocks (I stopped speculating). I regret not getting serious sooner, but better late than never. 🙂

    Be happy, live long and prosper!

    John

  5. Barry @ Moneywehave on September 14, 2014 at 7:10 pm

    Hey Robb,

    Glad you enjoyed my recommendation, I quite enjoyed Wealthing Like Rabbits. I get your point about credit cards too, Robert and I argued about it, and everyone is entitled to their own opinion.

    Gail also likes to use the block of ice analogy =D

    • Echo on September 15, 2014 at 6:56 am

      Hey Barry, it’s cool that you got to meet up with Robert yesterday. I’d enjoy arguing with him, too 🙂

  6. Susan on September 14, 2014 at 7:14 pm

    I love the sound of this book! First thing I did? Started looking for all the little leaks in our financial boat. And let me tell you, their were many!

  7. Dan @ Our Big Fat Wallet on September 14, 2014 at 7:33 pm

    I did a similar review on my site and loved the book. Any book that has the following quote is a winner in my mind: ““Asking a bank how much you are ‘allowed’ to spend on a home is a bit like asking Ronald McDonald if you are allowed to supersize your Big Mac and fries.”

  8. Mike on September 15, 2014 at 3:51 am

    First thing I did was set-up a discount brokerage, sell my high fee mutual funds and invest in lower cost ETF’s

  9. Jill on September 15, 2014 at 4:33 am

    The book sounds interesting. I can see my nieces and nephews enjoying it.
    The first thing I did when I started looking after my finances was enroll in the DRIP programs available through the stocks I owned. That way my dividends just kept being reinvested. It’s worked out well.

  10. Andrea on September 15, 2014 at 5:05 am

    The most important thing I did to take control of my finances was ditch the spouse who was overspending on credit cards.I hate credit cards. It’s great to say that you should get cash back rewards on purchases but few, I would say less than 20% of people (see how generous I am?), have that kind spending control when faced with their desires when what they desire is available to buy by credit card. Since my biggest purchases are always plane tickets, and I get a paltry amount of vacation time from the big finance company where I work, spending control is built into my life. But if I loved jeggings and small kitchen appliances as much as I love travelling, I would be in big trouble. This book sounds like a good read!

  11. Deelia on September 15, 2014 at 5:07 am

    This sounds like an interesting and fun read! I always enjoy it when the obvious is stated and you get that “aha” moment. Looking back, the first thing I did to take control of my finances was graduate without any student debt. I’m going to ensure my kids do the same! This book goes on their Christmas list this year.

  12. John Thong on September 15, 2014 at 5:13 am

    There is no one universal plan that is applicable to everyone, therefore pick whichever that may apply to your individual needs and circumstances.
    Many work to survive (living paycheque to paycheque) while others work to survive (keeping themselves challenged, energized and staying mentally fit.) There’s a retired dentist who now works as a Walmart Greeter, who is full of enthuiasm – it is not just about money!
    Having a financial plan is important prior to retirement but keeping yourself fit physically and mentally is essential for a happy retirement.

  13. Blake Schmidt on September 15, 2014 at 5:23 am

    The sounds like a great read . I hope to have my adult children read it after I am done with it. I think Credit cards are a great money tool if thought how to use properly .

  14. Tracey H on September 15, 2014 at 5:29 am

    I don’t think you’re agreeing with the author about the 10% down on a house thing. He’s in favour of that if they phase out the RRSP Home owner thing at the same time (I’m in agreement with him on both of those things myself).

    As for spousal RRSPs, I agree with the author. First, you never know when the gov’t will take back income splitting and second, I believe you can only split once you’re 65. That’s no good to the person retiring before then.

    The most important thing I did was pay myself first. I was a few years into my adult years and I’d been saving what was left at the end of the month. This works way better.

    • Echo on September 15, 2014 at 7:03 am

      Hi Tracey, I’m not a fan of the HBP and the author’s idea to replace it with the 10% down option is something worth considering. Outside of that, homeowners should strive to put 20% down and avoid CMHC fees. So I am in agreement on both of those points 🙂

      As for the spousal RRSP, it is useful in some circumstances, just not the one the author mentioned. I try not to make financial decisions on things the government MIGHT do down the road.

  15. Kristi Wright-Farmer on September 15, 2014 at 5:38 am

    Enjoyed your review. Would this book be appropriate for older teens who have their first after school/summer jobs?
    I want to start mine young understanding finances, investing and most importantly savings.

    • Echo on September 15, 2014 at 7:07 am

      Hi Kristi – I think it would be appropriate. It has a good chance of capturing their interest with neat history references, good humour, and plain language when it comes to managing your money. It deals with a lot of spending decisions and behaviour, so that might resonate with teens.

  16. Lynn on September 15, 2014 at 6:15 am

    In order to reach my annual savings goal, I started to say no to invitations from friends and family to travel and spend money on entertainment(that was not in my budget). There is no shame in stating – I can’t afford it!

    • Judy on September 15, 2014 at 6:43 am

      I have been tracking my finances for years on an Excel spreadsheet. I have also opened several savings accouts for specific reasons, such as an emergency account, a bills account, a vacation account, and a Christmas account in addition to our regular savings and chequing accounts. Our pays are divided up amongst all of our accounts. After all, emergencies are going to happen and as far as I know, Christmas is at the same time every year. We also have RRSP’s and TFSA’s.

      I would love to get this book. It never hurts to review other points of view.

  17. Ian on September 15, 2014 at 6:31 am

    Sounds like a good book. I did laugh out loud about the hot water and the frozen credit card. Personally I find I control my spending A LOT better with plastic because I can track it easier and I have to be mindful of how much money I have in which account with bills, etc. When I have cash it just burns a hole in my pocket and I am a lot more likely to buy that donut with the coffee, for example.

    The VERY first thing I did when I decided to be better off financially (after chipping away debts to a reasonable level) was open a TFSA at PC Financial earning a whopping 1.5% interest. This was back when I thought a TFSA was a type of bank account, and I had a lot of money in there doing nothing. This was still probably the best finance move I have ever made though. The sheer psychological elation that came from seeing money grow in an account just from deposits alone was more than I could have predicted, and I will never look back.

    • Echo on September 15, 2014 at 7:09 am

      @Ian – I’m the exact same way when it comes to cash. I’m much more likely to spend it on an impulse purchase – coffee, donut, magazine, and then forget to get a receipt and enter it into my spreadsheet. No good.

  18. Murray on September 15, 2014 at 6:33 am

    My biggest change was keeping track of spending, which allowed me to accurately budget and then produce a financial plan which had a chance of success. It’s interesting you dismiss the spousal RRSP point and I would say that you are in the majority of opinions. However, unless I’m not reading things incorrectly it is still the best plan for people retiring before 65 or those of us with a difference in spousal ages?

    • Echo on September 15, 2014 at 7:13 am

      @Murray – You’re right, the spousal RRSP can make sense in those cases when you follow the three year attribution rules.

  19. Anthony on September 15, 2014 at 6:39 am

    very interesting! I too am tired of the common themes that come with all these books, and hopefully this will be something I can look at more refreshingly.

  20. Lama on September 15, 2014 at 6:44 am

    As a money coach myself I’m always looking for new personal finance books to read … So please make sure that I win your giveaway 😉
    First thing I did when I started taking control of my finances is tracking my expenses in a spreadsheet. I have a collection of spreadsheets dating back to 1998 !

  21. Tom on September 15, 2014 at 6:48 am

    Sounds like a book I’d be interested in reading and also passing on to my adult kids.

  22. Dennis on September 15, 2014 at 6:56 am

    Thanks for the review. The most important action I did to take control of our finance was consolidated the multiple registered and non-registered accounts with an investment advisor and take an holistic “one pot” approach to the sum of the accounts to plan our retirement strategy, regular meetings with the advisor kept us all on track.

  23. Marilyn on September 15, 2014 at 7:07 am

    Sounds like an interesting book. Thanks for the review! I agree with the idea that all finance books start to look the same after awhile. I know when I finish a book and 1) can’t remember anything because I’ve filed it all as extraneous info, or 2) read it all before somewhere else that it has no place in my high-value real estate bookshelf.

    The most important thing we did as a family was to regularly discuss common financial goals, our expense tracking spreadsheet (loosely called a budget), large expenses, and anything money related. The difference is amazing when you work as a team versus pretending to be individuals.

  24. Jane on September 15, 2014 at 7:25 am

    Would love to win this book as it seems so right for my daughter right now. She hopes to be graduating from University next spring. The most important thing that I did to take control of my personal finances was to track all our expenditures when we were first married. We had a blue ledger type book and each day we would record everything we spent, right down to the last penny. After about a year, we realized that if we wanted to get “on top of things”, we needed to cut out coffee and donuts at Tim’s and start making it at home, etc. etc. we are now comfortably just into retirement, but neither of our kids seems to have a clue. The more that Mum and Dad tell them, the less they listen. Perhaps words of wisdom from a fun book on the topic will help.

  25. Diane on September 15, 2014 at 7:45 am

    When I moved away from parents home due to a lifestyle disagreement that wasn’t tolerable, I had a job paying $7,000 annually and my rent was $4,256 annually plus utilities. My credit card saved my life. I calculated to the penny every expense and used the credit card to pay so that I could get necessities. Each month I paid the entire balance off. But since my income didn’t cover my necessities, each month I calculated how much I needed to put on credit in order to be able to pay the rest of my bills. I did this while looking for another job to correct my financial situation. It took 6 months to find the right job and with the increase in income, I was able to lower the amount I had to put on the card each month until it was no longer necessary. During this time I did not pay a single cent in interest. When that was done, I decided to use the card for the cash back feature and took the money I had been using to reduce the monthly need and started my RRSP. Without the credit card I would not have been able to take the time necessary to find the right job, or I would have defaulted on my expenses (rent, utilities or phone).

  26. Heather on September 15, 2014 at 8:25 am

    The first positive thing I did to take control of my finances was to learn to cook. The money I saved by not buying prepared food went to pay down my student loan. Not only was I working to free myself from debt, but it ended up being fun learning to make new foods that I had never experienced growing up.

  27. Alex on September 15, 2014 at 8:33 am

    You could not have had any better timing on this review! I had just stumbled upon the book and was going to hopefully purchase it in the near future.

    Your take on the concepts laid out in the book have only acknowledged my necessity to read it. Great review!

    For myself my first step was paying myself first, making sure to take full advantage of company RRSP matching, as well as learning to finally make a budget for myself.

    Keep up the great content! It’s not only informative but it’s very inspiring for us new financial learner’s who are looking to start “wealthing” our way to a prosperous future 😀

  28. Sandra Barbeau on September 15, 2014 at 8:35 am

    Your highlights interested me enough to purchase the book if I don’t win it. The comparison to The Wealthy Barber was the clincher. I bought that book after hearing Chilton speak at a teachers’ workshop almost 30 years ago. Excellent advice! Perhaps my 20-something children would take Wealthing like Rabbits equally to heart. They’re certainly not listening to their parents. LOL

  29. Lori on September 15, 2014 at 9:00 am

    The title caught my fancy because I live with 3 Beagles who were originally bred to hunt rabbit (mine still hunt the neighborhood bunnies that venture into the yard – woe unto the bunnies). Anyhow…

    There is one idea you disagreed with where I thought you were bang on was the notion of not seeing an advisor until your house is paid off and you have $500K in an RSP – to me that just seems to be foolhardy. Not only will an advisor give you that sober second opinion, they will help you to determine your risk appetite (always a very important item to know) and help with ways to reach those 2 goals more quickly (as long as they are fee only and not trying to sell you a product of benefit to them). My first thought was “what type of investments is that $500K in the RSP in???”

    Look forward to reading the book!

  30. rebecca barnes on September 15, 2014 at 9:08 am

    Looks like an enjoyable read! We put additional payments on our mortgage every to weeks that goes 100% toward the principal (not the interest).

  31. Cheryl on September 15, 2014 at 9:08 am

    Thinking of buying the book for a work colleague in her mid 20’s, living in Vancouver and sad that she thinks she’ll never save enough to own a home of her own. As for best advice…pay yourself first and start early in life. I’ve been doing it since my first job (mid teens) and it enabled me to make choices others couldn’t; staying home for 6 years while my kids were young, maxing out RRSP’s some years and having funds to start investing early in life. I’m in my early forties, living in the most expensive city in Canada and feel optimistic….a lot different perspective than many my age. Keep up the excellent info. I always enjoy your posts!

  32. Angelina on September 15, 2014 at 9:10 am

    The most important thing was signing up for You Need a Budget. Book looks like an interesting read.

  33. Ginette on September 15, 2014 at 9:39 am

    Would love to read the book. The most important item for us to build wealth was to continue living the same way, even when our income increased, and putting the extra towards savings. At times it was difficult seeing friends buy big properties and spend thousands on renovations, but now we are the happier for it with freedom to make choices.

  34. KC on September 15, 2014 at 10:36 am

    The first thing that I did when I decided to take full control of my finances (a long time ago) was to lock up my credit card. The time spent to open up the safe was enough for me to reconsider my purchases. Thankfully, I no longer need to do this as I now have my spending under control.

  35. Andrew on September 15, 2014 at 11:10 am

    When I took control of my finances earlier this year, the most important thing I did was read as much as possible. I started off by reading personal finance blogs (like boomer and echo) on the Internet and then continued my journey by buying as many books as I could. This is how I discovered the power of index investing and compound interest. I always thought personal finance was a rather dry subject, so I was surprised at how much I enjoyed reading about it once I got going.

  36. Gerald Brochu on September 15, 2014 at 11:41 am

    Enjoyed the review,enjoyed reading the responses and agree with most of them so I will not repeat the obvious. I’m from the old school,if you can’t pay for it outright don’t buy it. The exception is a house but please don’t buy to much house.Vehicles are often a necessity but do not buy to much vehicle. A clean well maintained property, toy or vehicle look great and the instant gratification of a new one are short lived. Credit cards are a tool and used properly they are great. Do pay yourself first. Retired in my early 50’s and have never looked back.

  37. Tawcan on September 15, 2014 at 12:05 pm

    Sounds like an interesting read. I’ve read a few reviews on other blog sites and I’ve added this book to my to-read list.

    I don’t agree with the credit card tip too. I never understand the idea of freeze your credit card and not use it. Using credit card is fine as long as you pay the balance in full EVERY month.

  38. Barry on September 15, 2014 at 1:23 pm

    Nice review. I’ve also read a couple of other reviews on this book and they were very positive. Funny enough because it is completely contrary to the author’s advice, one of the best things I did to help me keep control of my finances was to put almost all of my monthly purchase on a single, cash-back credit card. Aside from picking up about $700 per year in cash back, it gives me a great record of my monthly spending, which in turn makes budgeting that much more simple. I’d probably disagree with that chapter in the book also!!

  39. Jim on September 15, 2014 at 1:36 pm

    It sounds like this book could be the next Wealthy Barber type book that allows young adults to get ahead of the game financially. When I was at he point in my life where I was starting to earn a living, my parents had the foresight to get me a copy (that I still have as a 40 year old) and it allowed me to really understand the impact of saving and money management. I’ll need to check this out and maybe this is the book my son needs to get him started on his way to financial literacy. Thanks for the review.

  40. On a shoestring on September 15, 2014 at 1:47 pm

    I have yet to convince my better half to work with me financially. We have two young children. Years ago, I started to track my expenses and income, break them out into different accounts, carry no debt, etc. but my partner keeps his head in the sand. Any advice is appreciated.

  41. Jan on September 15, 2014 at 3:05 pm

    I chose not to go into clothing stores unless I really had something I had to purchase. In other words, only bought when and what I needed.

  42. Sheri on September 15, 2014 at 5:11 pm

    My first act was reducing debt and used 0% balance transfers and $500 pymts to knock it down to zero. It made a huge impact! Never used the card for purchases by locking it in the safety deposit box. All about discipline!

  43. My Own Advisor on September 15, 2014 at 6:22 pm

    Nice review. I just finished WLR and hope to post my review in a few weeks.

    I would think studies would show, people DO tend to spend more money using a CC than cash. It’s not about tap-and-wave technology.

    Will I use cash for my purchases, heck no.

    A few chapters were a bit long, but that’s just a quibble. Overall, Robert did a great job and should be proud.

    I’m not sure spousal RRSPs make much sense anymore, for the reasons you provided above but to each their own.

    If you can pay yourself first, the challenge is, what do you invest in. DIY is not for everyone and I would agree Robb, some folks DO need and would be MUCH better off with a financial advisor that without one.

    Mark

  44. Kim on September 15, 2014 at 6:37 pm

    Sounds like a good read. My first step was actually dual focus – I opened an rrsp and set up regular contributions and I started paying down debt at an accelerated rate.

  45. Be'en on September 15, 2014 at 7:08 pm

    We were a one-income family for a long time. The first thing I learnt about money management was to draw up a “weekly” budget and adhering to it to the extent possible. It helped us to ensure that we always spent less than what we had and also put away money for RESPs and then RRSPs.

    If you have your spending under control, it makes much sense to use credit cards that reward your spending!

  46. John Smith on September 16, 2014 at 3:23 am

    Our main motivation is to have millions of dollars each in 40 years. This is a combined $3.75 million dollars goal myself and my wife.

    We are now 15 years in and we have currently $665,000 and we so far averaged 4.50% on a before compound interest basis.

    All we have been doing from 1999 to 2014 is keep buying longer term government strip bonds and zero coupon bonds in our RRSP’s, annual RRSP tax refunds, RESP’s and TFSA’s until recently.

    If we continue at our current pace of saving, investing, contributing $36,000 in all our RRSP’s, RRSP tax refunds and TFSA’s over the next 25 years, we will reach our goal of 3.75 million dollars.

    This was a perfect time to review our finances and this topic of wealthing just reminded us with our week off on vacation together.

  47. Bernie on September 16, 2014 at 7:54 am

    It was to actually start paying attention to our finances, the 2nd thing was to pay ourselves 1st and the 3rd thing was to not spend our income tax refund but to re-invest it.
    All 3 were financial life-changers.

  48. Darcy on September 17, 2014 at 10:39 am

    Looks like an interesting read. The number one thing I did to take control of my finances was track my expenses in detail. Since getting a better handle on where my money was going I’ve been able to properly and accurately budget, as well as develop cash flow projections so I can have a bigger picture view of the progress of my plan.

  49. Loraine Branan on September 17, 2014 at 11:19 am

    This book looks great! I read finance books now and then, just for some ideas and advice. I recommend a great practical book by a couple ladies. Charla Aylsworth and Marcia Manchester called The Joy of Skinny: Finances. Their site is skinnylivingproject.com…good stuff.

  50. Jason St-Hilaire on September 18, 2014 at 6:59 am

    One of the first things I did when I decided to take control of my finances is to put everything in writing and to make a spreadsheet tracking exactly where I was. This helped me get a grip on my current situation.

  51. Don Smyth on September 18, 2014 at 2:53 pm

    When I realized how badly my finances were, I got a divorce and thereby took back control of my finances. Since then (24 years ago ) I have done pretty well for myself.

  52. Duane on September 20, 2014 at 5:29 pm

    The first thing I did to start controlling my finances was when I went in to get life insurance at age 21 to make sure there was something to take care of my 14 month old son whom I had sole custody off was to start investing in an RRSP and using my refund to contribute additional funds to it. This was at the recommendation of the life insurance salesman. Yes I learnt there were more efficient ways to invest and other programs to use but it was the start of it all. No regrets.

  53. Winston Brown on September 25, 2014 at 6:52 pm

    I too have read many financial books, in fact set aside “The Death of Money by James Rickards” to read Wealthing-Like-Rabbits which I completed in 2 days and enjoyed it immensely. I have now passed it on to my one daughter and asked all family members to read asap. Good basic information that will work for anyone. I have used credit cards to their fullest getting 18,000 plus off new GM vehicles as well as 7800 off a Ford (because of the points), however at best over the past 50 years have not paid over 100 dollars total on interest charges due to missed payments, now with reduced spending still manage to get several 100 on my options card with Canadian Tire. I admit I have seen some that should not have credit cards but with discipline for taking all discounts a lot of money can be saved. BTW I hope to finish James’s book next month!!!

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