The Wealthy Barber Return by David Chilton PDF

In 1989 The Wealthy Barber Return was published in Canada, just as the late baby boomers were starting to wake up and take control of their finances. The book was an instant success, selling over two million copies and climbing to the top of personal finance bestseller lists. The book is laced with wit and humor and makes the difficult subject of personal financial management easier to digest.

In a story like format, the book follows Dave (an expecting father), his sister Cathy and her husband Tom who visit their local barber named Roy to get some financial advice. Roy explains to them that how they handle their money is what will make or break them. He implores them to save and invest and never borrow money. He also advises them to live within their means and stay away from the consumerism culture that is rampant in our society.

Roy teaches them about the power of compounding and how saving just ten percent of their income can lead to great wealth over time if invested properly. He encourages them to start a spending summary and track their expenses for a month. This simple exercise enables them to identify areas of unnecessary expenditure and prioritize the allocation of their limited resources.

I think this is a good book for beginners who want to learn about basic personal finance principles. However, I think the greatest strength of this book also happens to be its weakness: Chilton’s financial tips are framed within a narrative and can become repetitive. Moreover, when the narrative becomes too simplistic it can become dull and boring to read.