Book Title: The Automatic Millionaire
Author: David Bach
ISBN10 – 0767923820
Pages: 228 (paperback)
Category – Personal Finance
Amazon Price – $8.42
My Rating: 4.5
I decided to kick off 2016 with a great book from one of my favorite authors, The Automatic Millionaire by David Bach.
While this book was published over a decade ago, the principles and lessons taught in this book still provide great value today.
One of my 2016 resolutions is to read at least 30 books from cover to cover, I came up way short in 2015 so I will try to get several extra.
I started this book on January 1st and couldn’t put it down, just finished it a couple hours ago and decided to write my The Automatic Millionaire review to share my thoughts on the book.
Let me jump right out there and say that I really liked this book, this is the third book I have read from David Bach and while this wasn’t my favorite of the three, I would definitely recommend it to anyone looking to take charge of their personal finance, manage their spending and get your savings started to secure your financial future.
About the Author: David Bach
For those of you who are not familiar with David Bach, he is a best selling author, renowned financial and motivational speaker who is responsible for helping millions of people worldwide take a hard look at their finances and make the changes necessary to get back on track and live the lives they once dreamed of.
Bach is a 2 time New York time bestselling author and published 9 consecutive national best books in the FinishRich series.
Some of David Bach’s other titles include:
- Start Late, Finish Rich
- Fight For Your Money
- Go Green, Live Rich
- The Automatic Millionaire Homeowner
- Smart Women Finish Rich
- Smart Couples Finish Rich
- The Finish Rich Workbook
- The Automatic Millionaire Workbook – a great addition to The Automatic Millionaire
- Debt-Free for Life
- Start Over Finish Rich
All of these books are on my list of books to read this year, except of course the Smart Women Finish Rich but heck I may read it anyways because I truly enjoy reading anything the Mr. Bach publishes and I am sure I can share what I learn with my wife.
I have already read the first three and now the Automatic Millionaire so I don’t have many more to go.
Anyone who loves author’s who take the time to really explain their point and keeps everything very simple and easy to understand, David Bach may be your cup of tea.
All of his books so far have been really easy reads and normally have easy to follow action steps at the end of the chapter to really drive home the topic.
About The Book: The Automatic Millionaire Review
I assume that many people read the title “The Automatic Millionaire” and except to find some secret magical system inside that will instantly erase their debt, financial struggles and worries.
Well, I have good news and bad news for you, which you want first?
The good news of course.
If you are looking for a system you can easily follow that will erase your debt, your financial struggles and completely eliminate your constant worrying about money, you will be happy to hear that within the 228 pages of the book lies exactly what you are looking for.
Of course there is some bad news.
There is no secret magical fairy dust or button to push that will take you from where you are to where you want to be overnight, your journey to financial freedom will take some time, commitment and persistence to get to your destination.
Bach will probably not reveal anything you probably haven’t heard your whole life, you journey will start with a tough look at how you spend the money you have now and show you some simple ways to eliminate the waste and reinvest in yourself and your future through savings and investments.
My biggest takeaways from reading the Automatic Millionaire were simple things that I know I should be doing but somehow always find a way to overlook or avoid such as paying myself forward, knowing what my Latte factor is (will make more sense when you read the book) and putting my future on automatic.
For most of my working career I have lived with the belief that if only I got that promotion or raise I was hoping for that everything would be different, I could pay off debt and start putting away a more money for my future and while that may be true, Bach really opened my eyes to doing more with what I currently have and not putting my goals and desires on hold while I wait for that increase in pay that may or may not ever come.
I honestly believe that just reading the book by itself would have been good for me and would have probably motivated me to make simple changes in my finances that have the potential to significantly improve my financial future but I also know that most of what I read I would have either forgotten or not acted on if it had not been for the Automatic Millionaire workbook that I bought when I purchased the book.
Inside the workbook Bach helps you put what you learned reading the book to work as you plan and set goals for how you are going to make positive changes in your spending, saving and investing.
In going through the workbook myself I was able to identify several things that I spend money on every single week that I thought were insignificant but when I took the time to look at how much they added up to over time it was really surprising, especially when I compared that to the many ways I could have re-purposed those funds which would have moved me closer to achieving my goal of being completely debt free.
I strongly believe that the Automatic Millionaire as well as the rest of David Bach’s books are books will be good read for any one who is looking to improve their financial situation.
I would love to hear what you thought about the Automatic Millionaire, please share your thoughts below.