The Barefoot Investor: The Only Money Guide You'll Ever Need

business, and in the process often pull themselves (and their families) out of poverty. Kiva provides regular updates on how the entrepreneurs are progressing (an impressive 98.7 per cent of loans are repaid in full). And it's in these updates that you get to form a connection with the people you're helping, and you get to see how $25 changes someo

Weird? Maybe, though I would remind you that you're reading a finance book from a guy who doesn't wear shoes, so we're in this together. Besides, people can justify spending $8000 to upgrade to business class for a 14-hour flight. Why not fly business class in your undies every day?

The number one secret to raising financially fit kids is … … to be a good money manager yourself. You'll do that by following the Barefoot Steps. Even better, you won't be stressed about money, so you'll have more time to be present with your kids. As kids get older they may not listen to you — but they never fail to imitate you, so: be a good prov

Chances are they're no smarter than you, and they may not work much harder than you. What's different is that they'll be doing one of two things: leading people, or ‘bringing home the bacon' (providing the goods, marketing the goods or selling the goods).

How not to raise a spoilt brat I'm passionate about financial education. I even bought a farm for my kids. Each one will get a paddock, a ram and a ewe — financial education and sex education rolled into one. The trouble parents get into is not understanding that pocket money is really a tool for financial education. So if you don't want your kids

Purchase top-level ‘comprehensive' private hospital insurance. I get the best hospital cover I can for my money. Don't purchase extras or ‘combined' healthcare cover. If I want a Swedish massage, I'll pay for it out of my own pocket. Most of the ‘extras' in insurance policies can cost you hundreds of bucks extra a year whether you claim or not. Don

Now if you're a Collingwood supporter, you're probably quite comfortable with losing, so you may only need three years of living expenses. If you're inclined to freak out and sell at the bottom of the market, shoot for having five years of pension payments.

Print me a statement that clearly shows my annual percentage return since we began, net of fees. Benchmark my return against the relevant accumulation index for the same period. Provide me with an itemised list of fees (expressed in both dollars and percentages). Include any and all ongoing fees, commissions and administrative costs that I'm charge

We'll discuss buying an investment property in greater depth in Step 5, but for now my advice is simple: if you want a family home, save up and buy one.