A Patrick Akos mandated read. I hate thinking about money. Definitely readable, and easy to comprehend implementation in your own life.

I’m just not sure how to review this book. It wins at providing some good and simple financial advise in a very readable format. I initially planned to have my two teens read it after me because I thought there was some good advice and they wouldn’t get bogged down or bored in reading it. It’s readability and basically sound advice are why I did give it three stars.

There are, however, several areas where it loses me. First of all, the original automatic millionaires he tells us about made just over $50,000 in his example. The author called this “Not bad. Not rich, to be sure, but a decent income.” At a guess, based on the authors age and the details he gives, this story happened in the 80’s. If I give him the benefit of the doubt and assume this wage was paid in 1989, this means an equivalent salary today would be over $100,000. That may not be celebrity rich, but it is 3 times more than the average salary in America right now. I think it shows a huge disconnect from the wages his readers may be making and undermines his claim that anyone can become rich by following his method.

Second, he really poo-poo’s budgets. I do get why, but this shows yet another significant disconnect between his standard of living and mine. As a single mom of two kids, I have to budget. It is a necessity. I do not have the luxury of not doing it. Again, I understand that many people don’t do it. I understand that for folks who do have a bit of a spending buffer it is easy to spend it, rather than save it, based on just willpower. But I think to completely disregard the fact that some people may truly need to budget is narrow-minded and even irresponsible.

Finally, there was just nothing new here. I am already doing what he suggested for savings and I don’t have debt, so there just wasn’t any real meat. If you have never read a book on finance, you might learn something, but I would absolutely recommend Dave Ramsey over this. Very similar concepts and not quite such a condescending delivery.

This is a difficult book to rate. Informationally, it should get a 5. For ease of understanding, it should get a 5. But as a "good read," well, much of the first half read like an annoying infomercial and that really bugged. I also don't like phrases like "get rich."

So, it's weird that I read this book. I did so at the suggestion of a friend, otherwise I never would have given it a thought. (Thank you, Katrina!) I began skeptically, but this ended up being the very book I needed to read, for me and for my marriage. Dear Phil has been patiently waiting 15-1/2 years for me to have any inkling about finances and planning. Nothing in this book was new to him, but it was a complete revelation to me. Knowing what I now know, I am amazed that Phil has stayed married to me this long!!!!! What a real man.

This is going to be required high school reading for graduation from our homeschool. I truly wish I had understood all of this as a college student. Thankfully, Phil DID understand it as a college student and he's quietly tried to do what he could without me being "on board." Now life should get better for him.

Best way to not have to be disciplined and budgeted is to make everything automatic. If it's automatic you don't have to think about it and it's just running in the background. Even saving 5% of your pay will make a huge difference in the end.

The main point of this entire book in one sentence, so don't bother reading it: Use recurring paycheck deposits and deductions.

This is probably a good read if you're utterly clueless but astute enough to understand basic personal finance. Fortunately I'm both very astute and not utterly clueless (e.g. I'm aware that holding cc debt is ill advised, but this book spends a lot of time on cc debt). The book also mentions checks a lot so the perceived barrier to automated/scheduled payments is a bit exaggerated for today's context.

One good suggestion that came out of this entire book was to pay your mortgage biweekly instead of monthly thereby reducing the principal balance faster thereby creating less interest due. But I don't have a mortgage and the author did not expand on the fact that some mortgage loans include prepayment penalties. Like HELLO.

This is the 2nd time both Aaron and I have read #theautomaticmillionaire. This is the updated copy. The title doesn't refer to a 'get rich quick scheme.' It refers to automating your bills, paying yourself first and how to have a safe and secure retirement with proper planning. Although I am a Dave Ramsey lover I feel like David Bach relates best to those who don't have lots of debt and are looking more towards planning for the future. Thankfully we are debt free but it comes with major sacrifice!!! We truly live like no one else. We are all about retirement planning at this stage in life so reading this had perfect timing. Even if you do have debt, this is a great read for you. Identifying your "latte effect" will help you save money right away!! Do yourself a favor and read this GREAT book! Early retirement here we come.

Extremely basic.
This is a book for people with zero financial literacy.
Maybe this could be the first book a young excited newly employed person could read.

Inspiring & Interesting

I would give this book a percentage of my savings but sorry David, I have to pay myself first. ☺ This book was truly inspiring and such an easy read. If you're like me, new to the world of finance, it can be intimidating and frightening. David has written a fantastic book and provides a valuable blueprint to make anyone, yes - ANYONE, a millionaire. While reading this book, I did not feel as though there were any gimmicks or get rich quick schemes. There was only value advice and amazing knowledge. Highly recommended for anyone that wants to make their income work for them and to whoever wants to enjoy retirement.

Some good tips. I definitely need to start investing toward retirement, and now I know some great ways to do so.

text me if you wanna hear my findings

Instructions for a wage slave to become a millionaire before his death.

Great, practical tips to managing money. Loved the "latte factor."