Monthly Archives: October 2015

Wealthing Like Rabbits Book Review

Wealthing Like Rabbits Book Review

Is Wealthing Like Rabbits the right book for you?

Wealthing Like Rabbits by Robert R. Brown is an Original introduction to personal finance.

But before we get into this book review, I want to let you know I got this book for free. It was given away at a personal finance conference I attended. But I don’t think this will bias my review.

The other thing I should mention from the outset of this book review, is that Wealthing Like Rabbits is primarily a book for Canadians. While the basic personal finance lessons still apply to those in the USA, the account types discussed are all specifically about Canada. So if you’re looking for a personal finance book for south of the border, you might be better off with something like I Will Teach You To Be Rich.

Now, with all that preamble out of the way, let’s get down to the business of this book review. Sound Good?

What’s Wealthing Like Rabbits All About?

As you’d expect, Wealthing Like Rabbits is an introductory-level book about personal finance.

In summary, this book covers the blocking and tackling of sound financial management. And even though this is something I am familiar with, it’s always good to get a fresh perspective and a thorough refresher.

Speaking of fresh perspective…

Wealthing Like Rabbits is a pretty eccentric book. But I kind of like that. It makes the topic of personal finance much more bearable (similar to The Wealthy Barber). I think this “easy to access” education is especially important for those who are just starting to learn about finance and investing.

Books like Wealthing Like Rabbits make it much easier for people to start empowering themselves with financial education. And that reminds me of the best pat of Wealthing Like Rabbits.

Let me tell you war I mean.

The Best Part of Wealthing Like Rabbits:

The best part about the book Wealthing Like Rabbits, is how actionable the information is. I think this is especially important in the world of personal finance, because the power of compounding really does work for or against you. If you aren’t snowballing money for your future, then time is working against you. So for that reason I really appreciated the actionable urgency of this book.

As an example, one thing I didn’t know about was the T1213 form, which allows you to reduce your payroll tax by declaring you’ll make RRSP contributions. Pretty cool, right? I’m going to put this tip into action for myself. But Wealthing Like Rabbits doesn’t stop there.

Whether you’re looking for insight on buying vs. leasing a car, renting vs. buying a house or paying down debt vs. saving for retirement, Wealthing Like Rabbits has actionable information that you can use. For this reason, I think the book is a great primer on personal finance.

Now, in the interest of giving a balanced book review, I wanted to let you know that the book isn’t perfect.

One Weak Spot for Wealthing Like Rabbits:

Wealthing Like Rabbits is a good introductory read for those looking to learn more about personal finance, there’s no denying that. But as is the case with almost any introductory text, they try to cover a lot of ground in a short amount of time.

I appreciate the author’s struggle. You want the book to be comprehensive without being intimidating. And I agree with the author’s approach that it’s better to drive home a few key fundamental points with lots of different examples in different areas of life. But there’s also a drawback to this approach.

Personally, I find that these types of book (including Wealthing Like Rabbits), tends to jump around a bit. The experience as a reader is a little disjointed, because while the theme of personal finance is consistent, the book doesn’t have much of a narrative. I realize this isn’t the end of the world, but I think a more cohesive journey for you as the reader can help you get even more out of the book.

So now that you’ve seen the pros and the cons of Wealthing Like Rabbits, let’s bring this book review to a close.

Wealthing Like Rabbits – The Final Word:

Wealthing Like Rabbits  is a good introduction to personal finance, especially for your Canadian cousin who overspends and under saves. Plus, the book is pretty fun and easy to read. For that reason alone, it’s worth checking out Wealthing Like Rabbits on Amazon.

But if you’re still on the fence, feel free to watch the video book review below to get even more insight into whether or not Wealthing Like Rabbits  is the right personal finance book for you.

Wealthing Like Rabbits – Video Book Review:

How to Manage Your Personal Finances

If you’re like many one of many people in the US today you may be struggling to manage your personal finances. While the signs of economic recovery are in place, according to CNN Money, the pace isn’t “wow-inducing” and while salary increments are observed, they remain modest. If you’re having personal finance issues and you want to manage your money better, you need to start learning to think and plan smarter.

Don’t let bad credit get the best of you

The first thing you should do is get a copy of your credit report from three different credit bureaus, such as ExperianTransUnion and Equifax. When you look over these reports, be sure to check for any errors or debts that are already paid. If you do find anything that shouldn’t be there, write a letter to the bureau(s) detailing the error and they should be removed from the reports fairly swiftly.

Learn to manage your debt

Before you can think about setting any kind of a budget, it’s important to determine how much debt you have and begin repaying it. Start with the high interest debts first and allocate a sum of money each month that goes towards debt repaying. Once you have finished paying your debts, this money can then be allocated to saving.

Time to think about budgeting

The next step is to create a budget that will allow you to track your income on a regular basis. My Money Coach talks about the importance of creating a budget to ensure that you always have enough money for the things you need. Start by writing down your most important expenses, such as rent, utilities, groceries, etc., and then move on to your miscellaneous expenses, including salon visits, magazine subscriptions, and clothes shopping. Try to cut out all unnecessary spending from the budget, such as your daily Starbucks or candy bars.

Become a saver

Start to save part of your income each pay period, as it is good practice to have some money available for an unforeseen emergency situation. You can also start to think about your mid and long term goals, such as saving for a vacation, buying a home, or saving for your retirement. Consult with a financial advisor to look into ways you could invest your money, as this can be a good way to build a stable financial future.

Get a second job

OK, so this might not be something you’ll want, or even need to do, but if your financial situation is truly getting the best of you, you may need to boost your income. Ask your current employer for more hours and if that isn’t possible, think about looking for a second job that you can do from home, such as freelance writing, customer service, or data entry. This is a good option for stay-at-home moms who want to achieve a better work/family balance

Get smart about your credit cards

When paying off your credit cards each month, try to pay more than the minimum balance. Not only will this help you pay off the balance quicker, but if you only pay off the minimum, you will mainly be paying the interest on the card rather than the actual balance.

Look for free activities

Learn how to enjoy life without having to spend money. Go to free events in your town and visit the library for free books and DVDs, or watch movies instead of going to the theatre.

Do you really need a brand new car?

You may be one of those people who always wants the latest make and model, but have a look at your existing car. Do you really need to change it? Can you get it serviced regularly instead?

Learning to manage your personal finances requires sensible thinking and some dedication, but gaining control over your money is priceless and by implementing these simple tricks, you can learn to become financially smart.
by Michael Peggs


Michael Peggs, founder and CEO of Marccx Media.

Michael Peggs is the founder of Marccx Media, a digital marketing agency specializing in SEO and Content Marketing. Before Marcxx, Peggs worked at Google in business development, forming digital media and advertising partnerships. He is also a blogger and podcaster, hosting the iTunes Top 10 New & Noteworthy podcast You University – The Personal Branding Podcast.

The Wealthy Barber Returns Book Review

The Wealthy Barber Returns, by David Chilton, offers Significantly Older and Marginally Wiser, Unique Perspectives on the World of Money.

Of course, the reason the book is significantly older, is because it’s something of a sequel to The Wealthy Barber, which was a personal finance classic here in Canada (over 2 million copies sold!) But I never read it.

Then last week, I was at the Canadian Personal Finance Conference, and the author, David Chilton was a keynote speaker. I quite enjoyed his talk, and thought it went well beyond personal finance. And then I noticed a free copy of The Wealthy Barber Returns in my conference bag. The book is only about 200 pages of light and punchy writing. So I tore through it pretty quickly.

And my hope is, by the time you’re done reading this book review, you’ll have a good understanding of whether this is the right personal finance book for you.

What The Wealthy Barber Returns is All About:

The Wealthy Barber Returns is a funny, smart and to the point book about personal finance best practice for Canadians. The book talks about the basics of spending, staying out of debt and paying yourself first. But it does it in a refreshing and entertaining way. If you’re new to the world of personal finance, you’ll find this book easy to read and simple to understand. Not bad, right?

The Wealthy Barber Returns goes on to offer advice about RRSPs vs TFSAs, the dangerous cost of line-of-credit-enabled home renovations and the benefits of forced savings and index investing. All in all, the book is a pretty great primer on personal finance, especially for Canadians. Now let me tell you about my favourite part of this book.

The Best Part of The Wealthy Barber Returns:

The Wealthy Barber Returns isn’t necessarily ground-breaking. It’s good old-fashioned advice you can rely on. So if you’re looking for an innovative investment strategy this isn’t the book for you. On the other hand…

The best part of this book is it delivers this time-tested material in a way that’s engaging and entertaining. A lot of personal finance advice, although simple, is lost on people because of how boring it is. There’s no laugh factor, and that makes it dry to learn about if you don’t have a burning passion for this kind of stuff. And let’s face it, most people don’t.

For that reason, The Wealthy Barber Returns might make a good gift. If you have friends and family that could benefit from better money management this is an easy introduction that might really help them out. I think because of how short and entertaining the book is, even those with the biggest credit card deficits could get something out of it.

Where The Wealthy Barber Returns Could be Improved:

Personally, I quite enjoyed The Wealthy Barber Returns. But my only complaint would be that the book could have been structured a little bit better. While the book was easy to understand, it didn’t feel like there was much logic to the organization of the chapters. It was a little bit of a spattering of ideas.

I don’t think this necessarily took away from the value of the book. But it might have been a lost opportunity to create a little bit more of a narrative for the reader. All in all though, this is a relatively minor drawback and I’d still recommend The Wealthy Barber Returns.

Now let’s finish this up.

The Wealthy Barber Returns – The Final Word:

The Wealthy Barber Returns is a refresh of a personal finance classic. And it’s good to hear a contemporary update from a trusted voice in the world of money. Plus, the book was easy and fun to read. I think that’s  an often under-rated aspect of personal finance books. For these reasons I recommend you check out The Wealthy Barber Returns on Amazon.

If you’re still not convinced this is the right book for you, I recommend you watch the video book review below. This will give you even more insight into The Wealthy Barber Returns, to help you decide if you’d like to read it.

The Wealthy Barber Returns – Video Book Review: