The Money Club for Young Adults
Book Review
Everyone's Commonsense Guide to Becoming Financially Independent by David Chilton
"Quite simply the best financial self-help book."
Money Book Club, Book-of-the-Month Club
Money Idea: pay yourself first
Canadian author David Chilton simplifies the complex puzzles of personal finance and helps you achieve financial independence. With the help of his fictional barber, Roy, and a large dose of humor, Chilton shows you how to take control of your financial future--slowly, steadily, and with sure success. Chilton's plan is no get-rich-quick scheme, but it does make financial independence possible on nothing more than an average salary.
His first and most important rule is "pay yourself first." Take 10 per cent off every pay cheque as it comes in and invest it in safe interest-bearing instruments. Through the magic of compound interest, this 10 per cent will turn into a substantial nest egg over time.