What iam reading now – The Barefoot Investor by Scott Pape

Read good reviews of this book in some website and so went ahead and picked up the book from the library. Have finished almost half the book (such a speed is quite rare for me).

One thing that i realised while reading this book is that without even having read this book, i do follow almost all that the author (Scott Pape) has mentioned, in my daily financial dealings. I do…

• Monthly systematic investments in a combination of mutual funds.

• I also do direct equity investment. I dont follow any hot tips while buying shares but do considerable research before buying a company’s share.

• I have a separate bank account that gives me better rate of interest in which i deposit around 10% of my monthly salary. This money acts as an emergency fund for me.

• I dont do impulse purchase. In fact, I dont shop at all. The last time i shopped for clothes was during my last trip to India in August 2006. And the last shoe i bought was about 2 years ago. Still, my wardrobe is full.

• I find no reason to keep up with the way the society lives, shops and dines.

• I dont go for unnecessary holidays just because the air fares are cheap. Because, the real expenses hit you only after your plane touches down.

• I consciously make an effort to commute only by bus or train. I never take a taxi unless i have something very heavy to carry.

• I save and invest more than 50% of my monthly salary.

The book is quite good. Though, the author does repeat quite a few things. Neverthless, the writing is pretty easy going and funny with a lot of stories thrown in for easy understanding.

My rating **** (4/5) A must read

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