It’s been a surprisingly good year for personal finance books this year. The year started off with two great books; Preet Banerjee’s Stop Over-Thinking Your Money!, and Bruce Sellery’s Moolala Guide to Rockin’ Your RRSP. Dropping today is Robert R. Brown’s Wealthing Like Rabbits.
Okay like Star Lord you may have never have heard of Robert R. Brown, but his book Wealthing Like Rabbits shares many similarities to Guardians of the Galaxy, as in it’s full of pop culture references that takes you on adventure.
Rabbits and zombies
As we all know rabbits are pretty famous for multiplying, the earlier they start the higher their population becomes, of course the same could be said about compound interest and the zombie apocalypse according to Brown.
“Ever week England receives 110 new zombies. This continues for the next forty years. . . on average only six out of every one hundred zombies chow down on the British citizenry annually, zombamafying them into new zombies. How many zombies would be in England after forty years?”
“There would be 824,627 zombies in England after forty years”
Never would I have imagined comparing compound interest to zombies. An original introduction to personal finance indeed.
It doesn’t matter
I have to admit, I love Brown’s writing/style since it’s very similar to how I view and talk about finances.
“In our increasingly materialistic world. it’s more important than ever for people to be comfortable doing what’s right for them, regardless of what anyone else thinks. Yet, far too often we see Buddys and Buddy-Lous out there spending money they don’t have on things they don’t need so that they can appear wealthier than they are in a futile attempt to keep up with those damn Joneses. Screw the Joneses! And by the way, the Joneses probably aren’t as well off as they look either. . .sadly, beneath the imitation wealth and artificial happiness there is often a lot of very authentic debt and stress.”
Appearances are deceiving, that big house, nice car, and annual vacation can all be obtained right now on credit. Listen to Brown, don’t worry what others are doing, forget what others are doing or how “rich” they appear, it doesn’t matter.
Probably my favourite chapter, Brown takes a look at the famous video game brothers as they look for homes with their bags of golden coins. the help of the bank, Mario the more famous brother decides to buy a big home and takes on a big mortgage. Luigi however decides to purchase a modest home at a much lower price.
Brown of course breaks down the real cost of buying too much home and reminds us what the banks are all about.
“Retail banks are in the business of providing financial services or products to make a profit. They are very good at it. They are not in the business of ensuring that your house purchase is a smart decision for you and your long-term financial health.”
Okay I don’t want to give away anymore of the book but Brown covers a wide range of topics including: debt, credit cards, lines of credit, HELOC’s, pay day loans, opportunity costs and much more. Basically he covers topics that could apply to any one of us.
If you’re new to personal finance then this book is definitely worth picking up as an introduction to the subject. Even if you’re familiar with your finances the book is still worth checking out since Brown has an engaging style of writing.