The Barefoot Investor, by Scott Pape, is my one “must have” money/finance book. Much of the early content of the Get Rich Project was inspired¹ by chapters in this book.

From the back (emphasis is mine):

At 26, Scott is a successful stockbroker and media commentator. He runs his own weekly finance radio show, chooses to drive a wreck and lives a full and rich life. His radio show has been described as finance for people don’t do finance. He makes money funky; your money can look after you once you learn to look after it.

The Barefoot Investor is the only finance book I’ve managed to read from start to finish; lets face it – finance is a bit of a boring subject for most people. The book distills much of the jargon and dry subject matter into a form which can be easily related to, easily understood, and easily acted on.

It’s hard to describe the difference this makes. While reading The Barefoot Investor, you start thinking about how you are going to implement the tips and ideas you get, and more importantly, when. This book makes you want to take control over your finances, and it gives you the information you need to do it.

It’s important to note that this book is (mostly) not about short-term gain. Most of the advice is based on long-term strategies which will make you “financially free” (i.e. not worrying about your finances and not living payday to payday). There are some short-term strategies for helping you get on the right track, but mostly the book looks at the “long game,” or – in Barefoot Terminology – “working your Mojo.”

For me, the best chapter (or “step”) in the book, is #3 – “Repo Your Repayments.” This chapter primarily deals with debt and what can be done about it. It clearly looks at many of the common forms of consumer debt, why they’re bad, and more importantly, what can be done to get out of the trap.

So in summary – buy this book. If you’re looking for a book to help you understand your finances, with clear, practical advice, I don’t think you’ll find one much better than this.

¹ Examples would include: Your Money or Your Wife, What Price the Little Things, and Be a Bank Account Tart