• Book Review

    Quit Like A Millionaire Book Review

    Why you need to read Quit Like A Millionaire

    Everyone I know has dreamt of winning the lotto, becoming a millionaire, quitting their job and living the life they want. Instead of dreaming about the lotto, why not make it happen for yourself? This is exactly what author, Kristy Shen did and she shares how in Quit Like A Millionaire.

    Disclosure, this post may contain affiliate links.

    General Thoughts On Quit Like A Millionaire

    The basis is Kristy Shen’s life story mixed with finance tips. A poverty stricken background, emphasis on education, good career, extreme frugality and investing wisely are all outlined.

    We quite enjoyed it but I suspect that is because the background was so familiar. Most of what Mrs Aspiring Millionaire has read and applied previously was all focused on the law of attraction and manifesting. Quit Like A Millionaire is the opposite of that. For her, it was an interesting take on scarcity mindset and how far that can get you.

    Mr Aspiring Millionaire found it extremely relatable because of his background.

    Quit Like A Millionaire Story

    Mr Aspiring Millionaire comes from Vanuatu, which was one of the least developed countries in the world at the time. Kristy Shen grew up in China in absolute poverty. For Mrs Aspiring Millionaire, hearing Kristy’s backstory, the early years, the emphasis on a good education, not wasting anything and a frugal mindset explained a lot about Mr Aspiring Millionaire and his family.

    Mrs Aspiring Millionaire grew up ‘white poor’ which is a far cry from the definition of poor in which Mr Aspiring Millionaire grew up in. In fact, one of our daughters (Mr Aspiring Millionaire’s daughter from his previous marriage) is growing up this way. She lives in the Solomon Islands, without electricity, running water (they go to the river for water), many neighbours live in dirt floor shacks etc.

    Hearing about Kristy’s upbringing, the things she did to make money such as hunting through the tip to make toys and the huge emphasis on education is common in island nations too. They simply do not have the resources available to most in countries such as the USA, Australia and most of Europe.

    Live Frugally

    With a background of poverty, you hold onto everything and live extremely frugally. Every small item matters and you mentally calculate how much an item e.g. a toy really costs. As in, that toy could pay for education back home. Kristy describes this and my partner’s family have done similar.

    Education Is Key

    Get the best education you can to secure the highest pay you can. The higher the pay, the more you can invest and the sooner you can retire. In countries such as China, Vanuatu and the Solomon Islands, getting a good education gives you options. You can get a visa to live elsewhere and send money home to help the family.

    Education has a huge emphasis in these cultures. Not only education but specific careers. It’s not about following your passion. Earning a high income to provide is more important. If you earn well, invest wisely and live frugally, you can live how you want for the rest of your life instead of constantly grinding on the corporate ladder.

    This part hit home as Mrs Aspiring Millionaire grew up with the luxury of being able to do pretty much whatever career she wanted. And change career or jobs as she pleased. Plus the capacity and opportunity to do various side hustles. As such, she quit school due to personal issues in year 11 and has done a variety of jobs but always made a good income.

    Mr Aspiring Millionaire did not have the same opportunities and worked his butt off in shipping then diving. Both careers were taxing on his body and meant he was away from his family for long periods. Now, since the family is mostly in Australia, earning good money, assisting family back in Vanuatu to get educated is important.

    Avoid Debt

    All finances books focus on this. Growing up in China and being an immigrant family to the USA, Kristy outlined how strict this advice was. Avoiding debt is crucial to having the life you want. Going into debt is simply stealing from tomorrow to pay for today.

    Instead of having money to invest, you are stuck in a cycle of borrowing and it costs you a lot more. In the USA student loans are excruciatingly expensive. Australia has a different system. However, many students go into debt in both countries for degrees they might not use or are not clear on. Or the “follow your passion” mantra is more important than career stability.

    On top of the student loan debt, is the cost of living going through university and often a car loan. By the time most students finish their degree, they are starting life with extreme amounts of debt. Higher than other generations have ever faced.

    Instead of going into debt, look for ways to pay for your education, work and start your career debt free.


    Make your money work for you if you ever hope to retire. It’s not enough to simply live frugally, save and hope. The cost of living continues to rise plus, who doesn’t want free money?

    While I won’t be following the investment advice she outlined, I did like the fact she shared what she did so others can follow or opt to learn more.

    You can get Quit Like A Millionaire here.

    What did you think of Quit Like A Millionaire?

  • Book Review

    The Automatic Millionaire: Book Review

    How to Become a Millionaire Automatically

    We are bombarded with images across social media of luxury cars, clothing and lifestyles, as if that is what a millionaire is. In reality, most millionaires are your regular neighbours who invested for the long term, stayed commited and lived below their means.

    Best selling author, David Bach, shares exactly how to do this and why it’s so simple in his book, The Automatic Millionaire.

    How Much Easier Would it be if you Could be an Automatic Millionaire?

    Whether you know much about stocks or business doesn’t matter. Consistency and compound interest will get you there with enough time. Start now by putting away extra each pay into savings or your retirement fund or investing into shares.

    It doesn’t matter if you only start with $5, the main thing is to start and be consistent. When you can save or invest more, do it. As your income grows, increase your savings and investments as well.

    If your work or the government matches your retirement investing or offers any bonuses, take advantage of them. While you won’t be able to access them until a certain age in some cases, it is free money and can help you grow your retirement funds fast.

    For many people, having the money where they can’t touch it helps a lot.

    The Automatic Millionaire Book

    It’s an easy read and you can implement everything he talks about quickly. Instead of being full of financial terms many don’t understand, it’s written in a way everyone can understand and enjoy. David Bach is truly passionate about helping people with their finances (we have met in person) and this comes across in his work.

    When you are starting your journey to learn more about finances and want basic advice which guarantees you will eventually get where you want to be, this book is it! It is a great starting book for anyone.

    How do you Automate?

    Being an automatic millionaire sounds great, right? It is easy if you are patient and stick to it. Automatic Millionaires have automated their investing to ensure they retire as millionaires. It does not mean you are going to a be a millionaire tomorrow.

    Look at all your expenses and how you can easily automate them through direct debit. You can do the same with saving, investing, retirement, all of it.

    Arrange for your employer to add extra to your retirement fund. Set up an automatic investment plan to transfer money to shares. Have your savings taken from your wage before it even hits your bank account.

    Once you have everything set up for success: retirement, investing and saving, learn to live off the rest. By living off the rest you are acting as if you have a lower wage than you actually do, enabling you to become a millionaire without trying.

    Would I Recommend Reading The Automatic Millionaire?

    Reading finance books can be motivating and keep your mindset on track. You know where you want to be and The Automatic Millionaire makes it easy. It is definitely a book I would recommend for beginners and anyone else looking for a little inspiration.

    Most of it might seem like commonsense but as we all know, commonsense is not that common!

    Get The Automatic Millionaire here.