The financial sphere seems all abuzz with The Barefoot Investor‘s book. Multiple friends have asked me about it. It’s the number one non-fiction book at both my local library and bookstore. But as happy as I am to see a finance book so popular, is it really ‘the only money guide you’ll ever need’? Will following Scott Pape’s ‘domino’ advice (or Dave Ramsey’s ‘snowball’ advice for that matter) really help you get out of debt for example? The best way to pay off your debt is likely to be something else entirely…
Why don’t we talk more about money?
Earlier in this series, I suggested that two key reasons include the fact that money means different things to different people, so it can be hard to get on the same page, and secondly, that it simply isn’t considered polite to discuss money openly.
Money is frequently considered a taboo topic – more so than sex or death in many societies. And it is precisely because of this taboo nature, Adrian Furnham reports in The New Psychology of Money, that couples are frequently surprised at the beliefs and preferences of their partner when they are revealed.