The Automatic Millionaire: Book Review

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If you don’t have much time to plan your finances, or you just want an easy financial game plan, then the Automatic Millionaire by David Bach is the book for you. In his book, David will show you how you are likely wasting a lot of your money and how you can follow one simple step to achieve financial success. David will show you how easy it really is to become wealthy. A must read for anyone entering the world of personal finance.

David has been recognized for coining the phrase “the latte factor” which is an expression for how much money we waste on items we don’t really need. He challenges the reader to put their own finances under a microscope and evaluate if they are spending money on unnecessary items. Save first, and then invest the difference.

David also talks about the concept of “pay yourself first”. The basic principal is to pay yourself 10% of what you make no matter what. David will then show you how to make the process automatic so you can focus on living your life.

Once you have read this book you will not look at a simple cup of coffee the same. If you are serious about your personal finances then this book is a must. I consider this book a staple for any personal finance collection.

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