Comments on: Smart Couples Finish Rich – Book Review

By: Mr. Cheap

Mr. Cheap — Mon, 31 Dec 2007 18:07:15 +0000

TMW & Mike: I agree, I think Bach would say a latte with a business meeting isn’t the problem, his latte factor refers more to the unconscious purchases we make that add up

By: FourPillars

FourPillars — Mon, 31 Dec 2007 17:10:52 +0000

That’s an interesting point TMW. That kind of cost is probably worth it.

I think Bach is mostly concerned with the latte that gets picked up in the morning while you read the paper on the train…

Mike

By: ThickenMyWallet

ThickenMyWallet — Mon, 31 Dec 2007 16:49:43 +0000

I have always had a small issue with the Latte Factor argument. Most informal networking gets done over coffee and lunches. If having latte with the boss leads to a raise then its well worth the cost. Having said that, I do agree that wasting money on a lot of small purchases is not a good idea.

By: Four Pillars

Four Pillars — Sat, 29 Dec 2007 02:28:33 +0000

Haha, good analogy MG.

I guess I would rather be writing a mass market book than one that only sells 100 copies!

Mike

By: moneygardener

moneygardener — Fri, 28 Dec 2007 20:44:43 +0000

Personal finance does not really have to be that complicated to be done right after all, so Bach is smart tapping into this lack of knowledge of the general public and perhaps almost to the point of intimidationg toward these topics.

It is all about mass-marketing I guess. The McDonalds or Wal-Mart of personal finance literature.

By: Four Pillars

Four Pillars — Fri, 28 Dec 2007 19:43:24 +0000

MG – good point! I think David Chilton (Wealthy Barber) could learn a few things from Bach and put out a whole series of books with minor changes from the original.

Mr. C – I agree. The book(s) is geared toward someone who is just starting to think about finances and doesn’t have much knowledge (and quite possibly, brains). For that person, it’s probably a good a book as any.

Mike

By: Mr. Cheap

Mr. Cheap — Fri, 28 Dec 2007 19:29:38 +0000

I was talking to a friend this morning about Bach, and I agree that he’s very repetitious (same info in all his books).

I think his advice is very focused on the “spend less then you earn” part of the equation, which is very important, but as you say in your review, sometimes his coverage of other issues isn’t so good…

If his book convinces someone to live within their means, it’ll certainly have accomplished a lot however.

By: moneygardener

moneygardener — Fri, 28 Dec 2007 19:23:13 +0000

I agree with most of your review and comments. What a funny world that we live in when somebody can write several books with the exact same ideas just applied to slightly different life situations and be very successful at it.