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Wealthing Like Rabbits: An Original Introduction to Personal Finance
CANADIAN BESTSELLER "Smart, funny and totally relatable." - Gail Vaz-Oxlade. The personal finance book Canada is talking about. With personal savings lower than ever before and household debt going through the roof, many people are in dire need of financial advice. But can a book that includes sex, zombies, and Star Trek really help? You might be surprised. Wealthing Like Rabbits is a sharp, entertaining guide to personal finance that proves sound money management doesn't have to be painful and neither does learning about it. Combining a unique blend of humour and perspective with common sense, Robert R. Brown takes you through the basics of financial planning by using anecdotes and pop culture to shed light on some of the most important, yet often mismanaged aspects of personal finance. Covering subjects ranging from retirement savings and mortgages to credit cards and debt, this book will help you balance your life goals with your financial responsibilities. Wealthing Like Rabbits is a smart, accessible, never-boring romp through personal finance that you will count as one of your best investments ever. Visit the website at www.wealthinglikerabbits.com
209 pages, Paperback
First published August 23, 2014
119 people are currently reading
2016 people want to read
About the author
Robert R. Brown
24 books11 followersI am a personal finance writer, speaker and enthusiast. I am the author of the Canadian bestselling personal finance book "Wealthing Like Rabbits - An Original Introduction to Personal Finance."
Wealthing Like Rabbits and I have been featured in The Globe and Mail, The National Post, Reader's Digest as well as being a guest on NewsTalk 1010 and MoneyTalks, a BNN personal finance production.
I write a monthly column for MoneySense magazine called #MoneyHacker and am a regular contributor to the MoneySense blog.
I am a frequent speaker at colleges, universities, and other organizations who are interested in helping people learn how to handle their money better...without boring them to tears. I also speak to businesses and trade organizations (Chambers of Commerce, Sales and Networking groups etc.) to promote sales and business excellence by sharing some of the valuable business lessons I've learned as a self published author and how organizations can take advantage of those lessons. My speeches, like my book, are highly entertaining with a healthy dose of humour but at the same time provide valuable insights and applicable takeaways for the audience.
Wealthing Like Rabbits and I have been featured in The Globe and Mail, The National Post, Reader's Digest as well as being a guest on NewsTalk 1010 and MoneyTalks, a BNN personal finance production.
I write a monthly column for MoneySense magazine called #MoneyHacker and am a regular contributor to the MoneySense blog.
I am a frequent speaker at colleges, universities, and other organizations who are interested in helping people learn how to handle their money better...without boring them to tears. I also speak to businesses and trade organizations (Chambers of Commerce, Sales and Networking groups etc.) to promote sales and business excellence by sharing some of the valuable business lessons I've learned as a self published author and how organizations can take advantage of those lessons. My speeches, like my book, are highly entertaining with a healthy dose of humour but at the same time provide valuable insights and applicable takeaways for the audience.
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Displaying 1 - 30 of 181 reviews
November 16, 2022
For Canadians.
-Don't spend too much. Reduce cost of living beyond what makes you live comfortable and happy. Cheaper smaller house saves money on expenses and hugely on mortgage interest expense. Don't waste money on extravagant vehicles, weddings, home renovations, vacations. Be careful not to buy a bunch of stuff you don't need while grocery shopping, buy cheaper brands that are 99% as good for 50% the price.
-Avoid debt (even mortgage debt, buy a smaller, cheaper house but especially CC and lines of credit)
-Contribute to RRSP+TFSA (buy into stock ETFs, bonds or even GICs if you're risk averse)
-get in the habit of saving even if you do have some debt just to develop the skills (I think is really important actually, its easy to put off setting up a savings account when you're paying off a student loan etc.)
-Don't spend too much. Reduce cost of living beyond what makes you live comfortable and happy. Cheaper smaller house saves money on expenses and hugely on mortgage interest expense. Don't waste money on extravagant vehicles, weddings, home renovations, vacations. Be careful not to buy a bunch of stuff you don't need while grocery shopping, buy cheaper brands that are 99% as good for 50% the price.
-Avoid debt (even mortgage debt, buy a smaller, cheaper house but especially CC and lines of credit)
-Contribute to RRSP+TFSA (buy into stock ETFs, bonds or even GICs if you're risk averse)
-get in the habit of saving even if you do have some debt just to develop the skills (I think is really important actually, its easy to put off setting up a savings account when you're paying off a student loan etc.)
January 31, 2020
While The Wealthy Barber has previously been my go-to for Canadian Personal Finance introductions, it's hard to get a copy of these days. Wealthing like Rabbits will replace this in my recommendations, because it's sound, common sense financial advice for Canadians with some fun anecdotes & pop culture references thrown in. Not a ton of nitty gritty info for people looking for specific investment strategies etc but still worth a read!
July 3, 2018
Although I've always considered myself pretty financially healthy, I'm still so glad that I read this book. It finally inspired me to get off my ass and open up my RRSP account with automatic recurring contributions. It also inspired me to close my other investment accounts (that I'd been fooled into opening a few years ago when I was still a student) and open up a TD e-series investment account.
Rob's other insights include considerations when buying a house and buying a car, why it's better to pay via cash over credit card (even if you're the kind of person who pays your bill off in full every month), and what a LOC and HELOC are and when is the right time to use one. Best of all, he uses realistic examples backed up by cold hard math, yet he uses terms that are easy to understand, and his tone is light and conversational as if you were actually attending an in-person university lecture led by him. I highly recommend this book to anyone who wants to get a better grip on their finances, even if you think they're in solid shape already!
Rob's other insights include considerations when buying a house and buying a car, why it's better to pay via cash over credit card (even if you're the kind of person who pays your bill off in full every month), and what a LOC and HELOC are and when is the right time to use one. Best of all, he uses realistic examples backed up by cold hard math, yet he uses terms that are easy to understand, and his tone is light and conversational as if you were actually attending an in-person university lecture led by him. I highly recommend this book to anyone who wants to get a better grip on their finances, even if you think they're in solid shape already!
January 19, 2020
A solid intro to personal finance, as the title depicts. I personally wouldn't say it's hilarious, and sometimes it's quite campy. However I do appreciate the straightforward approach it takes to teaching the reader some basic finance principles, and for me it was a great start to feeling less helpless about discussing money. I'd recommend it to someone who, like me, is intimidated by financial matters but wants to learn more.
September 4, 2015
I. Frigging. Loved. This. Book.
Hard to believe that an introductory personal finance book would be one that I actually didn't want to put down and that I got *excited* to read. Robert Brown is so witty, with such a strong sense of what matters, and his advice is simple yet well thought out. Highly recommend, especially for twentysomethings.
Hard to believe that an introductory personal finance book would be one that I actually didn't want to put down and that I got *excited* to read. Robert Brown is so witty, with such a strong sense of what matters, and his advice is simple yet well thought out. Highly recommend, especially for twentysomethings.
October 19, 2016
Ah, if only I'd stumbled upon this book (or something similar) back when I was in my early 20's! Unlike many personal finance books this one is so easy to dive into and retained my attention with its equally entertaining and thought provoking layout and formula of explaining each concept.
While the most benefit goes to those in their 20's or even 30's, I really do believe that everyone and anyone that has or will have an income could benefit from digesting the knowledge in this book.
I found the chapters covering mortgages (Foolish Mario and Wise Luigi!) was incredibly revealing about just how crazy the amounts people easily are ending up paying in interest, simply due to embracing the thought that "more house" is always better.
I don't normally push books on people, but I've already started letting people that I think will listen know about this one!
While the most benefit goes to those in their 20's or even 30's, I really do believe that everyone and anyone that has or will have an income could benefit from digesting the knowledge in this book.
I found the chapters covering mortgages (Foolish Mario and Wise Luigi!) was incredibly revealing about just how crazy the amounts people easily are ending up paying in interest, simply due to embracing the thought that "more house" is always better.
I don't normally push books on people, but I've already started letting people that I think will listen know about this one!
February 21, 2017
I loved this book. This is one of the best personal finance books that I have ever read. It explained everything really well, in plain language and it wasn't boring at all. Would make a great gift for a young person (20 year olds). This should be read by everyone interested in personal finance.
July 24, 2022
money bad capitalism stupid
July 5, 2018
For what the author set out to do, I'd say he has been relatively successful. It's a light and fun introduction to personal finance for people living in Canada.
Although this is my 4th intro to personal finance book, I still find the reading experience enjoyable. As a bonus, I also picked up some useful information about home ownership.
Although this is my 4th intro to personal finance book, I still find the reading experience enjoyable. As a bonus, I also picked up some useful information about home ownership.
February 18, 2021
I read this book because I dig personal finance and I dig reading, and for personal finance I think there's an art to matching a useful book to someone's personality or situation in life. I see this book recommended frequently on /r/PersonalFinanceCanada so I thought let's see how it compares to some of my favourites, Millionaire Teacher or The Simple Path to Wealth.
This is a basic introduction to personal finance, and is advertised as such. The right audience is someone maybe late in high school, a new university grad, starting their first job, or making their first major financial decision (car or house or even marriage). They want an understanding of how credit cards or mortgages or compound interest works, and maybe need to have it explained to them why payday loans are evil. Buying a car, opening an RRSP, tracking expenses, debt is bad, etc. etc. It's on par with The Wealthy Barber Returns.
I appreciate the author's use of humour making it fun and not bone-dry like some books. On getting a mortgage from your bank: "Asking your bank how much you are allowed to spend is a bit like asking Ronald McDonald if you are allowed to supersize your big Mac and fries."
I thought it was lacking in the investing area. Once the reader opens an RRSP the author leaves it to them to find a low-cost index fund that works for them, but doesn't make any specific recommendations. This is where I'd point students/new grads/whoever to M.T. or TSPtW. I can't decide if the author did the right thing here. On the one hand, recommending specific products or strategies might be information overload to this book's audience... on the other, it feels incomplete.
I don't think Brown did TFSAs justice, and certainly didn't help his audience see the potential value. He said that they're useful for saving for big expenses like down payments and vacations, and then said nothing else. This is not technically wrong but perpetuates the faulty view of "tax free SAVINGS accounts" (i.e. for "high" interest cash deposits or GICs), when TFSAs are really "tax free INVESTING accounts". A good Canadian PF book should explore the option that a disciplined investor can (and should) use their TFSA just like their RRSP, dumping in as much money as possible whenever possible into low-cost index funds, letting it grow for the longest time period possible (i.e. to retirement, hence the discipline, as you can withdraw whenever) - because the long time frame is where you can unlock the most value.
This is a basic introduction to personal finance, and is advertised as such. The right audience is someone maybe late in high school, a new university grad, starting their first job, or making their first major financial decision (car or house or even marriage). They want an understanding of how credit cards or mortgages or compound interest works, and maybe need to have it explained to them why payday loans are evil. Buying a car, opening an RRSP, tracking expenses, debt is bad, etc. etc. It's on par with The Wealthy Barber Returns.
I appreciate the author's use of humour making it fun and not bone-dry like some books. On getting a mortgage from your bank: "Asking your bank how much you are allowed to spend is a bit like asking Ronald McDonald if you are allowed to supersize your big Mac and fries."
I thought it was lacking in the investing area. Once the reader opens an RRSP the author leaves it to them to find a low-cost index fund that works for them, but doesn't make any specific recommendations. This is where I'd point students/new grads/whoever to M.T. or TSPtW. I can't decide if the author did the right thing here. On the one hand, recommending specific products or strategies might be information overload to this book's audience... on the other, it feels incomplete.
I don't think Brown did TFSAs justice, and certainly didn't help his audience see the potential value. He said that they're useful for saving for big expenses like down payments and vacations, and then said nothing else. This is not technically wrong but perpetuates the faulty view of "tax free SAVINGS accounts" (i.e. for "high" interest cash deposits or GICs), when TFSAs are really "tax free INVESTING accounts". A good Canadian PF book should explore the option that a disciplined investor can (and should) use their TFSA just like their RRSP, dumping in as much money as possible whenever possible into low-cost index funds, letting it grow for the longest time period possible (i.e. to retirement, hence the discipline, as you can withdraw whenever) - because the long time frame is where you can unlock the most value.
January 11, 2024
I've read more than a handful of personal finance books so I can't say I learned much but I would recommend this to someone who is new to personal finance. I do think it was a pertinent reminder to 'pay yourself first' and that you are not 'paying' by credit card but borrowing money. It did trigger me to finally automate my TFSA deposits to bi-weekly on pay day. I understand his preference for RRSP over TFSA (main point is the barriers and fees associated with withdrawal will hopefully prevent people from doing so) but not convinced to switch. I do think the investing chapter was light. I'm glad he didn't suggest any products but I'm not certain a beginner would walk away really knowing what to do. Recommending searching online can be a receipt for disaster if someone decides to follow r/wallstreetbets or similar.
OH-(actually I'm removing a star from my original rating) how were student loans barely discussed? If this book is targeted for youth aged 17-25, how can you not mention the biggest thing that will effect their financial future? Not everyone has university paid for.
Much of this book should be common sense but considering the average Canadian over $20k in consumer debt, it really is not common. I see so many people buying luxury vehicles and going on multiple tropical vacations when I know they don't have the income to support it. Boils down to: spend less than you earn, buy only as much house as you need and can afford with a 20% down-payment, buy less crap, renovate less, spend less on weddings. Start investing now. It's easier than it seems. Compounding interest is magic and by contributing even a small amount of money every week from age 25 to retirement you can have over $1m. Seriously, go play with a compound interest calculator, it is crazy.
Like any personal finance book, the details and numerical references are often outdated within a year of publication (talking about a house for $300,000 while I live in Toronto is just laughable). The FHSA has also been introduced. I'm also not sure if the 'humour' would land for the current generation of youths but they should walk away with valuable knowledge anyway.
OH-(actually I'm removing a star from my original rating) how were student loans barely discussed? If this book is targeted for youth aged 17-25, how can you not mention the biggest thing that will effect their financial future? Not everyone has university paid for.
Much of this book should be common sense but considering the average Canadian over $20k in consumer debt, it really is not common. I see so many people buying luxury vehicles and going on multiple tropical vacations when I know they don't have the income to support it. Boils down to: spend less than you earn, buy only as much house as you need and can afford with a 20% down-payment, buy less crap, renovate less, spend less on weddings. Start investing now. It's easier than it seems. Compounding interest is magic and by contributing even a small amount of money every week from age 25 to retirement you can have over $1m. Seriously, go play with a compound interest calculator, it is crazy.
Like any personal finance book, the details and numerical references are often outdated within a year of publication (talking about a house for $300,000 while I live in Toronto is just laughable). The FHSA has also been introduced. I'm also not sure if the 'humour' would land for the current generation of youths but they should walk away with valuable knowledge anyway.
November 19, 2021
This is a book I would call Personal Finance 101 for young Canadians or new immigrants to Canada. This book covers useful financial topics like RRSPs, TFSAs, spending, mortgages and down payments, credit cards, how to save money, etc. The author draws analogies to rabbits, sex, zombies etc. to keep you hooked till the last page. The book will definitely open your eyes and make you realize at least one financial mistake you have done. If you are in your early 20s this book will prevent you from making one. I had a great time reading this book.
January 16, 2018
Truly exceptional, easy and fun read for a personal finance book!
August 29, 2021
This book was eye opening! Written in a very easy to understand language. Lots of great points. My stepchildren will be recieving this for Christmas.
April 3, 2023
Great and entertaining introduction to the world of personal finance.
June 17, 2025
This book should be a mandatory High School Graduation gift since our school system fails to teach us basic personal finance. Good place to start!
July 13, 2017
4.5 Stars
October 11, 2019
The book I wish I read when I first moved out of my parents' house and started making financial decisions by myself. Incredibly funny and informative. 6 stars/5
May 7, 2021
Relevant, simple, hilarious.... I did laugh out loud a few times. One of my best reads this year and of all time... and I think this ones gonna pay off! Do your future self a favour and read this one. Now. Do it now.
Now!
Now!
June 19, 2020
As good as it gets for an introduction into canadian personal finance
October 27, 2024
I usually sit and read one book at a time, all the way through. I didn’t for this one though - I kept coming back to it and reading smaller sections at a time, so that I could make some notes and really absorb it. It is written in such a way that it’s so easy to understand and consume!
March 25, 2023
This book is a great beginner book, but I do wish it went into a bit more detail. I do feel like it gave me enough information to confidently prepare myself for conversations around finances that I would have previously shied away from, and I appreciate having access to this book especially as a woman. However I do feel like more detail could have been discussed, such as things like your credit score, what impacts it, how you can make it healthier. Or how to invest your money beyond your retirement funds, and how to diversify your portfolio. It would have been great to go through investment things such as GICs, bonds, stocks etc. But perhaps these can't be covered in a beginners book? I don't know...
Grateful I read it, learned some, but if you're going to write a book aimed at people under 30, know that a lot of us aren't banking on property as our main income earner, especially if we live in a city. And we're especially not going to buy property if it means we can't travel or have a nice bottle of wine occasionally.
Grateful I read it, learned some, but if you're going to write a book aimed at people under 30, know that a lot of us aren't banking on property as our main income earner, especially if we live in a city. And we're especially not going to buy property if it means we can't travel or have a nice bottle of wine occasionally.
May 9, 2016
I'm a little bit obsessed with personal finance at the moment so I absolutely loved this book. Even if you're a non-crazy person who just wants to know a little bit more about what to do with your money I highly recommend this book. It was hilarious. I know, personal finance books aren't usually hilarious but this one totally was. I've been doing a lot of reading on the topics Brown covers in this book so not a lot of it was brand new information to me, that might also be because a lot of his advice is common sense things we all need to be told once in a while. Even still, he had some new perspectives and arguments I hadn't come across before.
May 1, 2015
Wealthing Like Rabbits is a fresh approach to helping young adults gain a better understanding to securing a successful financial future. I have recommended this book to many young adults and the feedback has been extremely positive. In fact the majority went to their banks to open a TFSA and/or RRSP within weeks. Finally a book that teaches responsible spending/saving for the young adult when it is most crucial for them to begin their journey in the adult world. A definite "buy" if you have young adults in your life!
March 28, 2015
I'm too old for this book, good for 17-20-somethings, I liked the pop culture tone - nice change from the usual tone of personal finance books.
May 17, 2015
Whitty, sarcastic and plain laugh out loud fun. Not exactly what you would expect from a personal finance book but all true. I couldn't put it down.
May 28, 2019
It is a well-known fact that rabbits multiply fast (For a detailed treatment, read this). So it is only apt to use a metaphor that is widely known and accepted by most people and apply it to the concept of multiplying your wealth in the same manner. The author has even proposed making wealthing a verb, and hence the title of the book - Wealthing like rabbits.
Although the book is written with the average Canadian in mind, the underlying principles of wealth making are universal and anyone can learn from this book, no matter in which part of the world you reside. Non-Canadians will simply have to figure out their national equivalent of the different types of accounts that the author talks about. At most the only Canadian specific terminologies are limited to the RRSP and TFSA accounts (For those living in the US, the 401(k) and the Roth IRA come closest to these accounts). The rest of the advice - from avoiding debt, buying a house - and other general "common-sense" principles apply to everyone wanting to develop a better hold on their spending habits no matter where they live.
Each chapter of the book deals with a specific area of wealth building. The author starts off by describing two different scenarios on a typical morning in a household. One is that of a couple who has not taken serious attempts to be conscious about their building their wealth. The other is that of a couple who has taken concrete steps towards ensuring that their life is more than simply surviving pay-check to pay-check. Everyone is likely to fall in a spectrum between these two cases. If you are already towards the latter example, congratulations, you're already on your way towards wealthing like rabbits. For others, maybe this book can help you get out of that rut.
The author starts with the RRSP, one of the oldest and most traditional ways that Canadians can use for saving towards their retirement. The TFSA account, a relatively newer entrant, is another concept that the author explains. Both have their own unique features that make one better over the other, depending on your current financial situation and your growth expectation of your salary in the future.
The book then moves on toward other areas where people often make a financial mistake - taking on debt. The author explains the correct way to size your mortgage so that you're not burdened with years and years of paying interest for things you don't need and shouldn't have bought in the first place. Debt is a cruel master and can often make the biggest dent in one's plans to become financially independent. Be it a mortgage on your dream house or a (relatively smaller yet equally dangerous) credit card debt, the author preaches that it is best to avoid debt in all its forms. Of course, buying a house is often inevitable for most people some time in their life. But by ensuring that you don't go overboard with a mortgage as suggested by your bank will go a long way for you to get a chance to enjoy your newly bought dwelling, instead of working day and night just to afford to live in it.
The book ends with a collection of other snippets of advice that the author probably could not fit in any other section. I liked how the author introduces all of these concepts in a hilarious manner, ensuring that one doesn't get bored with a subject that is often on the back burner for most people. It is a quick enough read and practical for everyone to start implementing immediately. You can probably finish reading the book in a few days but the advice will last you a life-time (and maybe make you richer for following it). I recommend this book for anyone wanting to get their financial life in order. This book comes highly recommended on reddit along with the Millionaire Teacher (yet another book I'm planning to read this year).
In the end, the underlying principles of wealth building are simple (but not easy). If I had to summarize the advice of the book, it would be something like - Spend less than you earn. Save as much as possible. Avoid debt. Invest part of your savings in various instruments (including equity). The last is something that people often balk at - equities. But thankfully, in this day and age, one doesn't have to be Warren Buffett to make money on the stock market. There are hundreds of ETFs and robo-advisors that one can utilize to grow their wealth depending on their time horizon and risk tolerance. But the general advice is to start as early as possible and not touch your retirement savings until well... you retire. That is why they're called retirement savings.
Although the book is written with the average Canadian in mind, the underlying principles of wealth making are universal and anyone can learn from this book, no matter in which part of the world you reside. Non-Canadians will simply have to figure out their national equivalent of the different types of accounts that the author talks about. At most the only Canadian specific terminologies are limited to the RRSP and TFSA accounts (For those living in the US, the 401(k) and the Roth IRA come closest to these accounts). The rest of the advice - from avoiding debt, buying a house - and other general "common-sense" principles apply to everyone wanting to develop a better hold on their spending habits no matter where they live.
Each chapter of the book deals with a specific area of wealth building. The author starts off by describing two different scenarios on a typical morning in a household. One is that of a couple who has not taken serious attempts to be conscious about their building their wealth. The other is that of a couple who has taken concrete steps towards ensuring that their life is more than simply surviving pay-check to pay-check. Everyone is likely to fall in a spectrum between these two cases. If you are already towards the latter example, congratulations, you're already on your way towards wealthing like rabbits. For others, maybe this book can help you get out of that rut.
The author starts with the RRSP, one of the oldest and most traditional ways that Canadians can use for saving towards their retirement. The TFSA account, a relatively newer entrant, is another concept that the author explains. Both have their own unique features that make one better over the other, depending on your current financial situation and your growth expectation of your salary in the future.
The book then moves on toward other areas where people often make a financial mistake - taking on debt. The author explains the correct way to size your mortgage so that you're not burdened with years and years of paying interest for things you don't need and shouldn't have bought in the first place. Debt is a cruel master and can often make the biggest dent in one's plans to become financially independent. Be it a mortgage on your dream house or a (relatively smaller yet equally dangerous) credit card debt, the author preaches that it is best to avoid debt in all its forms. Of course, buying a house is often inevitable for most people some time in their life. But by ensuring that you don't go overboard with a mortgage as suggested by your bank will go a long way for you to get a chance to enjoy your newly bought dwelling, instead of working day and night just to afford to live in it.
The book ends with a collection of other snippets of advice that the author probably could not fit in any other section. I liked how the author introduces all of these concepts in a hilarious manner, ensuring that one doesn't get bored with a subject that is often on the back burner for most people. It is a quick enough read and practical for everyone to start implementing immediately. You can probably finish reading the book in a few days but the advice will last you a life-time (and maybe make you richer for following it). I recommend this book for anyone wanting to get their financial life in order. This book comes highly recommended on reddit along with the Millionaire Teacher (yet another book I'm planning to read this year).
In the end, the underlying principles of wealth building are simple (but not easy). If I had to summarize the advice of the book, it would be something like - Spend less than you earn. Save as much as possible. Avoid debt. Invest part of your savings in various instruments (including equity). The last is something that people often balk at - equities. But thankfully, in this day and age, one doesn't have to be Warren Buffett to make money on the stock market. There are hundreds of ETFs and robo-advisors that one can utilize to grow their wealth depending on their time horizon and risk tolerance. But the general advice is to start as early as possible and not touch your retirement savings until well... you retire. That is why they're called retirement savings.
November 13, 2025
I read this cause my mom suggest a family book club and we read this over two months with a weekly zoom discussing the chapters and we actioned the realistic items.
This was the 2014 editions so some of the anecdotes are kinda off: Warren Buffet is now worth approx 147 billion instead of 50 billion 😡😳, Kevin O’Leary sucks and The Bay doesn’t have exist anymore 😭
Some of our take aways:
Random advice:
1. Don’t buy mortgage life insurance from your bank. It’s expensive and only covers you for the outstanding balance on your mortgage, a number that should be consistently declining.
2. Look into paying mortgage weekly instead of monthly (obvs it would be like $250/w instead of 1K) and it will get paid down faster
3. Every adult needs a will
4. Credit card usage - check which card you have has lowest interest rate/fees; consolidate debt if you can
5. Check your credit score
6. Do a monthly financial diary kinda like a food journal and see what you’re spending. Probs not feasible in December.
7. Check your pay check and see where the deductions are going
8. Check your Canada Pension
9. Balanced frugality: you don’t need to be insane like Bradley On A Budget. Buy the new towels and DENTAL FLOSS. Instead of the 10K wedding dress buy the 1K one. Don’t buy the $100 wine bottle at dinner, get the $50 one or just have a glass.
‘…not because they made more money over the years, but because of how they handled the money they made over the years. Simply put, they made better decisions with their money. They had more money coming in, then they had going out.’
‘ All set, my preferred strategy to take full advantage of the RRSPs to save for your retirement. Start early and leave it alone. Then, use your TFSA to save for other stuff in the short term, like a down payment on a house, a great vacation, or that new boat.’
‘Don’t make the mistake of spending beyond your means so you can look wealthier than you are.’
“Wealth isn’t that complicated. At the end of the day, it’s a radically simple thing. There’s just one way to save money, which is to spend less than you earn.”
This was the 2014 editions so some of the anecdotes are kinda off: Warren Buffet is now worth approx 147 billion instead of 50 billion 😡😳, Kevin O’Leary sucks and The Bay doesn’t have exist anymore 😭
Some of our take aways:
Random advice:
1. Don’t buy mortgage life insurance from your bank. It’s expensive and only covers you for the outstanding balance on your mortgage, a number that should be consistently declining.
2. Look into paying mortgage weekly instead of monthly (obvs it would be like $250/w instead of 1K) and it will get paid down faster
3. Every adult needs a will
4. Credit card usage - check which card you have has lowest interest rate/fees; consolidate debt if you can
5. Check your credit score
6. Do a monthly financial diary kinda like a food journal and see what you’re spending. Probs not feasible in December.
7. Check your pay check and see where the deductions are going
8. Check your Canada Pension
9. Balanced frugality: you don’t need to be insane like Bradley On A Budget. Buy the new towels and DENTAL FLOSS. Instead of the 10K wedding dress buy the 1K one. Don’t buy the $100 wine bottle at dinner, get the $50 one or just have a glass.
‘…not because they made more money over the years, but because of how they handled the money they made over the years. Simply put, they made better decisions with their money. They had more money coming in, then they had going out.’
‘ All set, my preferred strategy to take full advantage of the RRSPs to save for your retirement. Start early and leave it alone. Then, use your TFSA to save for other stuff in the short term, like a down payment on a house, a great vacation, or that new boat.’
‘Don’t make the mistake of spending beyond your means so you can look wealthier than you are.’
“Wealth isn’t that complicated. At the end of the day, it’s a radically simple thing. There’s just one way to save money, which is to spend less than you earn.”
March 28, 2019
This is my favourite book on personal finance to date.
I recently read "You Need a Budget," and I think I commented that it was my favourite book on personal finance to date. Amended: that's my favourite book on budgeting. THIS is my favourite book on finance.
Robert R. Brown writes about finance in a self-deprecating, easy-to-understand way that's highly practical and comfortingly judgmental. By that, I mean that he's very free with his opinion that you shouldn't keep up with the Joneses, because the Joneses are going into debt. The Joneses, he intimates (but mostly just says point-blank) are not very smart. He doesn't just disparage them, though - he uses examples and charts to illustrate exactly how dumb financial decisions (that seem inconsequential at the time, like paying 100K more for a house with an additional bedroom that you don't need) stack up over time to rob you of the comfortability you can easily set yourself up to enjoy.
Brown's advice is highly practicable - I immediately called my bank and insurance provider after reading this, which is not something I'm always inspired to do on receiving financial advice (because of the guilty, "it's too late," glooom-and-doom feeling that sometimes results). He also offers an excellent, affirming attitude adjustment - confirming that not going into debt for any of the things lenders want you to go into debt for (wedding, vehicle, mortgage, excessive consumption, etc.) is the correct course of action. He gives enough detail to make his points compelling, but just enough to keep the book moving at a very engaging pace.
I would recommend this to any Canadian, but especially the one who's slightly overwhelmed with trying to prioritize debt payoff and savings goals. This is a great no-nonsense, simple, effective guide from a friendly (but very honest) source.
I recently read "You Need a Budget," and I think I commented that it was my favourite book on personal finance to date. Amended: that's my favourite book on budgeting. THIS is my favourite book on finance.
Robert R. Brown writes about finance in a self-deprecating, easy-to-understand way that's highly practical and comfortingly judgmental. By that, I mean that he's very free with his opinion that you shouldn't keep up with the Joneses, because the Joneses are going into debt. The Joneses, he intimates (but mostly just says point-blank) are not very smart. He doesn't just disparage them, though - he uses examples and charts to illustrate exactly how dumb financial decisions (that seem inconsequential at the time, like paying 100K more for a house with an additional bedroom that you don't need) stack up over time to rob you of the comfortability you can easily set yourself up to enjoy.
Brown's advice is highly practicable - I immediately called my bank and insurance provider after reading this, which is not something I'm always inspired to do on receiving financial advice (because of the guilty, "it's too late," glooom-and-doom feeling that sometimes results). He also offers an excellent, affirming attitude adjustment - confirming that not going into debt for any of the things lenders want you to go into debt for (wedding, vehicle, mortgage, excessive consumption, etc.) is the correct course of action. He gives enough detail to make his points compelling, but just enough to keep the book moving at a very engaging pace.
I would recommend this to any Canadian, but especially the one who's slightly overwhelmed with trying to prioritize debt payoff and savings goals. This is a great no-nonsense, simple, effective guide from a friendly (but very honest) source.
November 7, 2024
If you're looking for a personal finance book that’s informative without being a snooze, Wealthing Like Rabbits by Robert R. Brown is a fantastic choice. Brown has a unique ability to tackle complex financial topics with a lighthearted, humorous approach that makes it easy to understand concepts like debt, saving, and investing. The book’s conversational tone kept me engaged from start to finish, and I walked away with real, actionable steps to improve my finances.
What I especially appreciate is how the book encourages readers to rethink their spending habits and make smarter financial decisions without feeling overwhelmed. Wealthing Like Rabbits doesn’t just throw numbers at you—it actually explains why each principle is important in a way that feels relatable.
For those looking to get a handle on personal finance, it's also worth exploring resources for financial management and customer service, especially if you're using tools or banking services to help you along the way. For example, magnifi financial customer service offers a range of support options that could be useful for managing finances effectively.
Overall, I highly recommend this book if you want to learn about personal finance in a way that’s both educational and genuinely enjoyable.
What I especially appreciate is how the book encourages readers to rethink their spending habits and make smarter financial decisions without feeling overwhelmed. Wealthing Like Rabbits doesn’t just throw numbers at you—it actually explains why each principle is important in a way that feels relatable.
For those looking to get a handle on personal finance, it's also worth exploring resources for financial management and customer service, especially if you're using tools or banking services to help you along the way. For example, magnifi financial customer service offers a range of support options that could be useful for managing finances effectively.
Overall, I highly recommend this book if you want to learn about personal finance in a way that’s both educational and genuinely enjoyable.
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