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

250 pages, Paperback

Published November 4, 2025

Reviews

[Alex Migdal]

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

[Joanne Cormier]

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.

[Robyn Meredith]

lol guys I finally finished it!

[Brett Hunter]

I’m a big fan of Dave Chilton, I read his books, I listen to his podcasts, I know what he’s about and his shtick. If you are wanting to learn more about the finance world and don’t know much, I found his previous book to be more beneficial with the more serious tone. This book is more similar to the original with financial advice surrounded by hackneyed jokes. The advice is still mainly the same from what I can remember: save 10% of net income if you can and invest in low cost index funds, don’t use your HELOC to do renovations, don’t try to keep up with the Joneses, and you don’t need to buy a house that’s the maximum amount you are pre approved for. A good book for the millennial generation if you want to keep the subject light.

[Sean Robinson]

Excellent guide and explanation of simple financial planning. Finance books can be intimidating or confusing but this book puts everything in conversational and dialogue form. Quite clever.

The points and topics aren't overly advanced. Its more of a beginner to moderate finance book, which is probably why the book is so popular. I learned details and tips from this that I appreciate.

I also love the Ontario and Sarnia connection. This is an added bonus for me. Would reccomend for anyone interested in finance books.

[Tash]

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]

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

[Leo]

David Chilton is a much better financial adviser than writer, but his financial advice seems pretty helpful, so I can't complain that much.

[Darren]

Incredible common sense approach.

[Tara]

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.

[Yiwen Li]

Loved this book! I had trouble putting it down (my partner can attest haha)! I learned so much! And it was so entertaining and fun to learn common sense methods of accumulating financial wealth in this fictional barber shop environment. Oftentimes, I would have been hesitant to ask the dumb question or really want to counter a point the barber is making : no problem! At all times author David Chilton already preempted me and has one of his characters ask on my behalf - amazing! I love how in the preface the author says there are no miracles here (for example, he has yet to come up with ways to make it work when your expenses are always more than your income) - just very accessible practical financial planning advice that also takes into account human nature. Love it. Loved that the barber also stipulates following his advice does not mean living like a miser or with extreme austerity - life is meant to be lived (but that does not mean you should use this reason every time you make an impulsive purchase!). All this and more in this wonderful book! Highly recommend!!

PS I’m going to have my mom read this book - she will love learning from the master barber!

[Kait Schmidek]

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]

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]

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!

[Emily Burns]

The most comprehensive financial advice book. I’m ready to put what I’ve learned to practice!

[Taylor Deibert]

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

[Branden]

Stonks

[Louis Jarvis]

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

[Colten Roberts]

This is the 3rd revised and updated copy of this book and there is a strong reason for it, that being how great it is. This knowledge of financial stability comes in form of a fictional story of characters learning valuable finance lessons for their wealthy barber. It sounds a little dull when I put it like that but giving this book a chance was one of the best decisions Ive made so far this year. The tips and tricks I took away from this book outweighs the $25 price tag completely. Highly recommend

[Anatoly Kaverin]

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!

[Elle]

The writing is painfully stiff at times ("I know you would rather be scrolling your DMs on Bumble!" made me physically recoil), but the advice is sound and more importantly, memorable. I hated the story format at first but, like the preface says, it really helps to cement the concepts. I put some of the concepts into action immediately so if I lose money, I'm lowering my rating!

I initially thought this book was only about investment/stocks stuff (never read the original, only know Chilton from Dragon's Den) but it covers a variety of topics in a short time.

I think the most important thing about this book and its advice is that it's realistic. The barber is pretty upfront about the problems young people, and older, face, and openly says that sometimes there just isn't a good solution. I respect that immensely. This isn't a man hyping you up with unrealistic advice, this is very practical and honest. There aren't any "ok boomer" moments that I recall, just excellent dad jokes. Even the bit on side hustles was well presented.

Overall, I learned a lot, had some laughs, had some cringe, and wish I had read something like this when I was younger.

[Cass]

I learned a lot from this book, it was very easy to understand and not boring to read. Would recommend to literally everyone.

[JenBarb_]

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]

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.

[Clare]

Really liked how the finance knowledge was geared towards Canada (e.g. RRSP, TFSA, FHSA). Had more specific applicable examples rather than just general knolwedge. Minus one star because I found the fictional narrative rather distracting from the key takeaways. I would much rather have a smaller, condensed novel with all the key takeaways/examples rather than trying to extract it from pages of dialogue. Key takeaways for me:
- It's not always a black/white approach for RRSP vs TFSA. TFSA offers flexiblity and is good to max out when you're a the earlier stages of your career, but the flexibilty can be a double edge sword that tempts people into spending rather than saving. People often are more inclined to leave money in an RRSP because withdrawal= tax
- Don't pay the premiums on emergency funds (premium= what you might lose out on leaving your emergency funds in a low risk account like HISA vs investing it in ETFs). It also depends on comfort. Some people might need a years worth in low risk accounts to sleep well.
- FHSA contribution room doesn't start accumulating until you open an account. Even if you don't use the money within the 15 year window, u can transfer it penalty free into an RRSP
- Form t1213 allows you to get your rrsp refund sooner with each paycheck rather than lump sump at the end of the year. allowing you to invest that refund sooner (takign advantage of compound interest).

[Faith]

4.25 stars! I would highly recommend this book to any Canadians interested in financial planning (and if you're not interested, you should be!)

The advice in this book is really sound. I would have appreciated a bit more explanation on some things - e.g., direct investing vs. robo-investing, asset-allocation ETFs vs. individual index funds, variable vs. fixed mortgage rate, the meaning of tax-deductible vs. withdrawals taxed as income, etc.

The book is written as a conversation between a cast of characters at a Sarnia barbershop, and many readers like this "readable" format. I did indeed find that the book was quite readable, but there was a lot of "fluff" to make the conversations flow naturally. For example, Sourev's mom's Jalebi was mentioned a lot — a topic which had nothing to do with financial advice LOL. I would have greatly appreciated a bullet-point summary of the main takeaways from the book, or even an index at the end, to make finding key concepts easier. I know I will definitely be turning back to this book in the future (for example, when I have dependents, I will probably want to refresh myself on the life insurance and RESP sections). The way the book is currently structured will make it a bit difficult to find the specific topics I am looking for.

That being said, I am really glad to have read this book and will definitely be applying its advice. It makes me optimistic and excited about the future, and I would absolutely recommend it!

[Justin Matthews]

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.

[Annalisa]

5/5 ⭐️ This is one of the best investing books I’ve ever read! For any young Canadian, especially in your early 20s, this book really covers everything you need to know to set yourself up for long term success. The storyline and anecdotes throughout the book make complicated & often daunting topics (e.g. RSPs, TFSAs, FHSAs, etc.) very approachable & easy to understand. Throughout this book, I have applied the strategies in my own life to take greater control over my personal finances. After finishing it, I feel even more empowered to continue on my own with these strong strategies in place. Thank you David Chilton for writing this incredible book & for the influential role you have in the lives of people across the country. I’ll most definitely be subscribing to the podcast!

[Melanie Wheatley]

I've read The Weather Barber three times now. First, when I was in high school (and I admit I did not understand a lot of the book). Second, when I was in graduate school, starting to think about personal finance and being able to save money. And now third, as an early career individual who is starting on their financial path. I cannot recommend this book enough. Everyone should read it - whether you are just starting to make money, in the midst of your life, or nearing retirement, there are lessons for everyone. I appreciate the David updated the book with more modern tweaks - FHSA, AI, Tik Tok, etc!

[Daniel E Parr]

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.