Scott Pape – The Barefoot Investor – is an Australian best-selling author, newspaper columnist and occasional radio/television presenter. His book, The Barefoot Investor: The Only Money Guide You’ll Ever Need is the single highest-selling Australian book of the last decade, with over 1.2 million copies sold. His common-sense advice and every-man approach to writing have made The Barefoot Investor a household name across much of Australia.

He expanded on his book with his latest release, The Barefoot Investor For Families, which provides practical advice for parents and families to help instill financial values in their children. This book is centered on ‘The Barefoot Ten’, a list of 10 steps Pape recommends for all young Australians before leaving home. You might have missed the memo and left home without hitting all of these items on the list – but regardless of your stage in life, the list makes for simple, achievable goals to help you and your family financially.

‘The Barefoot Ten’

Before your child leaves home, they should have:

  1. Open a zero-fee, high-interest savings account
  2. Bought and sold something second-hand
  3. Learned to cook at least two low-cost delicious, nutritious meals from scratch
  4. Volunteered in their local community
  5. Saved you at least $100 on your household bills
  6. Promised to never, ever get a credit card
  7. Got a part-time job from age 15
  8. Earned at least one glowing reference from a boss
  9. Opened up an ultra-low-cost, high-growth Super fund
  10. Set up a savings account for a home deposit

You can purchase Scott’s books here.

Contributor: Alex Jacques – Director, Jacques Financial Group

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