The Wealthy Barber: The Fully Updated All-Time Canadian Classic

by David Chilton

Finally! Thirty-six years after "The Wealthy Barber" first burst on the scene and helped millions of Canadians to manage their money wisely, a fully updated version is here! The book's unique blend of understandable financial education, humour and a compelling story takes the intimidation out of this normally dry subject. Packed with fresh insights for these challenging times, you'll have trouble putting The Wealthy Barber down.

Genres: Nonfiction, Finance, Canada, Money, Self Help, Personal Finance

264 pages, Paperback

Published November 4, 2025

Reviews

[Alex Migdal · Rating 3 out of 5]

The number of bad jokes borders on insufferable, but the financial advice is tea.

[Joanne Cormier · Rating 4 out of 5]

I know a lot of people are a fan of this “story telling”layout, but I would have rather just read the information I needed to know. Regardless, it’s an easy read and some good information is provided. I would have liked a bit more detail and more topics covered but this is a great introduction especially for people who know absolutely nothing about savings, RRSP, TSFA and life insurance. I will pass it on to someone young than me.

[Tash · Rating 5 out of 5]

Every high school should make this part of the curriculum. There are so many good lessons that can carry you through well into adulthood. David Chilton really makes personal finance approachable and dare I say, fun. His advice makes me excited for saving and planning my future. Even though I'm a little late to the party, I don't think it's ever too late to apply the teachings of the wealthy barber.

[Graham Wright · Rating 3 out of 5]

This book makes me confident that I can become wealthy, but not confident what-so-ever that I should cancel my trip to Africa.

[Darren · Rating 5 out of 5]

Incredible common sense approach.

[Kait Schmidek · Rating 5 out of 5]

Dave takes a topic that often feels complicated and intimidating, managing your money, and brings it back to simple, proven fundamentals. Growing wealth isn’t glamorous, and it doesn’t involve chasing the next big meme stock. Instead, he focuses on basics that actually work, like paying yourself first and letting compound interest do the heavy lifting over time.

It’s also refreshing to read a personal finance book that’s written specifically for Canadians, making the advice feel practical and relevant rather than abstract. I’d recommend this book to anyone under 45 who wants to take more control of their finances and build wealth in a simple, sustainable way.

[Matthew · Rating 3 out of 5]

This book is ideal for folks in their late teens and early 20s. Much of the financial advice would be easy to bullet point across two pages.

I wasn’t expecting financial advice in the form of a story, and this updated Canadian version almost seems to have gone through a ChatGPT generator to give it a fresh coat.

I am glad to have read it to question spending habits, and consider better ways of investing and saving. Might recommend something more mature for the 25+ reader.

[Erin Nguyen · Rating 5 out of 5]

Sound financial advice in a conversational approach! Sometimes the math was a bit much to follow but otherwise things were laid out well and easy to understand. A great read!

[Taylor Deibert · Rating 4 out of 5]

Pretty good let’s see if it makes me rich now 🤪

[Branden]

Stonks

[Louis Jarvis · Rating 3 out of 5]

Can’t say I learned a whole lot of new stuff but the home ownership and life insurance chapters have some good tidbits. Never boring 3/5

[Anatoly Kaverin · Rating 5 out of 5]

This a great book with financial wisdom for anyone beginning their journey. I’ll definitely ask my kids to read it several times as we already touched on some investment topics while they are in school.
Bought paperback version days after release.
Great book and great gift!

[JenBarb_ · Rating 5 out of 5]

I read an earlier version of this book back when I finished my degree, about 10 years ago. I remember the book being an entertaining read, with some helpful metaphors to get me started preparing my finances as I joined the workforce. Even at the time, the book was very out of date. It was written in a time before TFSAs and low-cost index funds existed. Let alone FHSAs and all-in-one ETFs, which have been introduced even more recently. As such, I was excited to see a fully updated edition of this book on the shelves, and I decided to pick it up.

There are a lot of books in the “business parable” category I find insufferable. Often, the author will write a self-insert character and all the other characters will find that self-insert's advice infallible. I appreciate that in this book there are other talking heads in the barbershop that offer up alternative pieces of advice and that the self-insert character concedes that not every piece of advice will be one size fits all.

The other downside of the framing device of the book is that, since the book is written in a very casual, conversational tone, I think the slang and references to social media might age faster than the financial advice. I definitely cringed at the reference to OnlyFans, but I also concede that the book got some laughs out of me

One thing I felt both this book and the older edition lacked is the trivial details of how to open certain accounts. Do I just walk into a bank, do I need to make an appointment or can it all be done online? What terms do I look out for to make sure I’m not paying unnecessary fees? How do I find the ticker for the right ETF? These are all things I figured out eventually, mostly through reading the Canadian Couch Potato blog and The Millionaire Teacher, but I think I would have started investing a few months earlier if I knew exactly how to get started. The book also touched on how you need to invest differently for different time-horizons, but some more example portfolios would have been helpful.

There are some habits I picked up from the original book a long time ago like tracking expenditures on a monthly basis that I still follow and I think are helpful. There were a few things I realize I need to get on top of now that I’ve read this book, like disability insurance.


I think it’s also worth calling out that while I agree with the spirit of the recommended policy of automatically investing 10-15% and only leaving yourself enough cash to last the month, It’s never been something I’ve actually implemented for myself because:

1. 10-15% seems low for someone with a low-cost lifestyle and no dependents that might want to retire early.
2. My checking account has a minimum balance so I don’t want to empty it.
3. I need to switch which account I’m investing in every few months as the registered accounts fill up.

[Jason · Rating 5 out of 5]

I read Chilton's original "The Wealthy Barber" two decades ago when I was coming of age, recommended to me by an online buddy who ended up being a big Canadian Founder and CEO. It was recommended to me when I secured my first co-op job in Toronto. The strategies in this book helped me graduate from an out-of-town university with no debt (residence/food costs). I saved 80% of my co-op salary while at home to achieve this.
My only gripe about the original version was the suggested use of mutual funds, which he addresses in this book. Chilton no longer advises mutual funds due to their underperformance and high fees. Also, I find the suggested 10% savings rate too low. However, in Canada 2025, that can be difficult for many to manage, unfortunately. I prefer 'The Money Guys' 25% minimum, however, they're American.

First, this 2025 edition offers an interesting and unique pedagogy for personal finance books, which is why I assign it 5 stars. Most people will bore of dry personal finance textbooks, but this conveys all the important points in the form of a story - as humans, we're built to engage in and follow stories - most of us at least. So this is probably the starting point I would recommend to a finance neophyte, as most would not care to flip through a dry book. I'm one of the rare few who would read dry math-heavy finance books for fun. I only read this for nostalgia and to see if I would recommend it to personal finance beginners - I definitely would.

Second, this book includes all the essentials of personal finance - from the importance of saving, using a commission-free broker like Wealthsimple or Questrade, and using one of the cheaper broad-based index ETFs. I don't recall him mentioning any specifically, but it would likely be the ETF series listed here: https://canadiancouchpotato.com/model... . Another critical item is the coverage of new tax vehicles such as the TFSA and FHSA, as well as the more obscure vehicles such as the RESP/RDSP. He also delves into insurance and estate planning, something most people overlook. It covers the basics. These mini-subjects can get incredibly complex if you dig deeper, but it's one of those 80% of the result comes from 20% of the effort/knowledge-kind-of-things - more like 90/10 - I begrudgingly know from experience.

Third, the book is set in modern 2025 Canada, where real estate is not anticipated to have the same yields as in the past, and how much harder it will be for younger generations to succeed. This shows us that Chilton understands and empathizes with the current issues in Canada. He also talks about the newest brokers and products available.

Finally, this book is simple, entertaining, and practical. I highly recommend it for a beginner's introduction to finance. Other books I recommend for starters are "Millionaire Teacher" by Andrew Hallam (but this is not in a story format that can engage a complete beginner disinterested in finance). Going beyond Canada, Ramit Sethi's "I Will Teach You to be Rich" - same principles, different tax vehicles. For more advanced material, anything by John Bogle (founder of Vanguard and inventor of the index fund) and Larry Swedroe are great.

[Justin Matthews · Rating 3 out of 5]

Loved the book, however, my strong disagreement with the push of index funds is causing my 3 star rating.

The book makes a strong push towards index funds, and misrepresents the truth. Passive vs Active investing should have been discussed in more detail. I prefer an active management style. I have only been in strong performing - professionally managed mutual fund solutions, managed by the countries leader in this area.

My mutual funds (after fees!) have outperformed index funds at its risk category - 8 out of the last 10 years.

Don’t get me wrong, I love the emphasis on paying attention to fees, HOWEVER, fees ain’t the whole story. Performance matters! I’d take my mutual funds over an index fund any day of the week.

[Daniel E Parr · Rating 5 out of 5]

I read the original in the early 90’s when in college. Unfortunately we had no one to encourage us, or provide good examples. We spent a long time under employed and had children young. It was tough to put Roys teachings to work for us. Many years later I am in a better position to help my kids. I have purchased a copy for each one and some young friends too. My goal is to encourage them and be a mentor, much like Chilton’s Roy Miller. This book is not the full story but it can help younger people get a handle on the world of personal finance.

[Melanie · Rating 5 out of 5]

I read the original book when I was getting started and put the strategies into practice. By taking a few proactive steps, not over-complicating things and being wary of people trying to sell you what you don’t need…these things can get you pretty far. Now my son and fiancée are starting out and they have the revised version. They find it very inspiring and are putting plans into action. I borrowed it for a few hours to see what’s new. I’m so grateful to David Chilton for the updated advice. It very comforting to have your kids armed with such great financial smarts.

[Sean Wiseman · Rating 4 out of 5]

Who doesn't love David Chilton? Of course there is nothing in this book that will be news to anyone with at least a basic level of Canadian personal financial knowledge (aka the people who read his first version and/or "The Wealthy Barber Returns"). However, for most people in their early-mid 20s and even some in their 30s who haven't learned the key lessons it contains, it should be required reading.

[Camela · Rating 4 out of 5]

This is the third "Wealty Barber" edition that I have read in the last 3 decades and I still learned some things from it! I appreciate the modern story line in this edition.
I am recently retired and there are some tips for this next phase of my life. The two or three-month spending summary is something I plan to implement so we can stay on track with our spending in retirement. The "joy units" will certainly help with discretionary spending decisions.

[Danielle · Rating 2 out of 5]

I think the advice in this book is good overall. But the writing isn’t great, maybe I just don’t share the authors sense of humour. But the filler text was grating. I also felt like a lot of the advice was set in our current time and that updated versions would be continuously needed. I would probably give this book to someone who had absolutely zero financial background, but I have a feeling there are better written books out there.

[Kyler · Rating 5 out of 5]

An all time Canadian classic fully updated after all this time. I was expecting to have a few things updated but Chilton has basically rewritten the entire book for the 2020’s. The information provided is just as important as ever now.

[TJ Black · Rating 3 out of 5]

I read the original book back in the day.

The updated version has the same story saying that I could skip. Less rambling conversations. A summary at the end of the chapter would be helpful.

Also, if the chapters were labeled, I could skip the sections I don't need.

[Rianne De Castro · Rating 3 out of 5]

Would’ve gave it 5 stars before the chapter on life insurance. I have very different views on the value of permanent insurance and “buy term and invest the rest” is not a one size fits all solution as the book suggests.

[Ian O'Handley · Rating 4 out of 5]

Nothing ground breaking here but it is all really good stuff to know and reading about it in a book format helps to reinforce.

Only thing is I didn’t realize Chilton was a lions/tigers fan…..a lot of respect has been lost.

[Braden Hursh · Rating 4 out of 5]

Easily understood and actionable. I made a list of suggestions as I read that I can directly apply to my life.

The shoe-horning of pop culture and social media was painful at times and will make the book age poorly.

[Tara · Rating 4 out of 5]

Good updated information. However, I DO NOT NEED TO USE AI FOR MY FINANCES, STOP NAME DROPPING GEN AI IN THE BOOK. I’m literally reading the book to become financially knowledgeable and independent and here they are recommending I make Chat do the work… smh.

[Aidan Stride · Rating 5 out of 5]

Fantastic book. Chilton nails the update and once again somehow turns a book about personal finance into a page-turner you won't want to put down.

[Virginia Weese · Rating 5 out of 5]

This book is awesome - truly such an easy read but learned so much. 10/10

[Dar]

Read the original around 1990 :)

[Deb · Rating 4 out of 5]

Excellent advice. Nothing particulary ground-breaking but an important read for those starting out in life.