Automatic millionaire - views please?

sammy115 · 15 June 2006 at 1:17PM

following the reading thread on here, I am halfway through the automatic millionaire book. I know some of you out there have read it and would like your views on the book.

Has anyone else followed the advice to pay yourself first? Even if you have debts. Seems like a good idea to me! but I am unsure as to whether to pay my debts first then start paying myself.

Now I have three goals.
1. Pay off debts
2. Pay off mortgage
3. Be a millionaire.

Hope I have time to achieve all this still - I am 41 after all.:rotfl:

Kevicho · 15 June 2006 at 1:23PM

Ive got that but its in my list so havent had chance to hear it

TBH id read/listen through at least 3 or 4 peoples views and come to your own conclusion about what works best for you

My opinion is that these tapes are great to make you think and help you organise, but they are not the definative answer

Kevicho · 15 June 2006 at 1:24PM

Also id just like to say paying yourself doesnt necessarily have to involve spending money, it can be go jogging, read a book or do something you enjoy and forget about debts.

Thats what i do

sammy115 · 15 June 2006 at 1:25PM

LOL - I am reading it. I couldn't listen to tapes - they would send me to sleep!

amosworks · 15 June 2006 at 5:57PM

I've listened to it some 5/6 times already, it's great but like all material on the subject should probably be consumed with others so you get the broader picture.

It's the Automatic Millionaire AND Transforming Debt Into Wealth that made me decide to become am millionaire, not one of the two on their own.

Good material []-)

sammy115 · 15 June 2006 at 9:21PM

thanks amosworks, I think it was your original recommendation that spurred me onto reading automatic millionaire, and I have really enjoyed reading it. I think the bit where he says people pay there bills and then try to save and find it impossible very very true. I paid into a pension from the age of 18 and every time I got a pay rise I upped my payments.

When I got married and had kids I stopped the payments as money was tight and I have regretted it ever since. The idea of paying money out before you even see it is very enticing - although waiting until I retire to become a millionaire is not what I had in mind. I am only half way through the book mind! I will try turning debt into wealth as well now, thanks!

homersimpson_3 · 15 June 2006 at 9:25PM

haven't read it- what are the key themes of this book-what is underlying message- who is the writer- is writer American or British?

amosworks · 15 June 2006 at 9:32PM

American but money is money no matter where you go

hattie_pea · 15 June 2006 at 9:37PM

I don't understand!!! I'd like to be a millionaire - is there a scret I don;t know about?!?!?

homersimpson_3 · 15 June 2006 at 9:59PM

My bank litigation has succeeded, they just paid me £2,749.76. Nearly debt free

brilliant- well done

amosworks · 15 June 2006 at 10:03PM

Cheers

I'm gonna sue them again soon, for my old CC. That was just my current accounts

Can you say fun?

Automatic millionaire - views please?

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