Saturday, April 11, 2009

The Automatic Millionaire

Another book by David Bach, is "The Automatic Millionaire, A Powerful One-Step Plan to Live and Finish Rich".

The main ideas in the book are finding your Latte Factor. The Latte Factor is the amount of small things you spend money on without really thinking about it, i.e. daily coffee, water, cigarettes, etc.

The other thing is to make paying your bills automatic. If you set up to have your bills paid automatically, then you don't have to think about it. If you set up your investments to be automatic then you can't decide you want to spend the money on something else. I treat my investment deposits just like other regular expenses and budget for them

The Chapters in the book include:

Chapter One
Meeting the Automatic Millionaire

Chapter Two
The Latte Factor: Becoming an Autmatic Millionaire on Just a Few Dollars a Day

Chapter Three
Learn to Pay Yourself First

Chapter Four
Now Make it Automatic

Chapter Five
Automate for a Rainy Day

Chapter Six
Automatic Debt-Free Homeownership

Chapter Seven
The Automatic Debt-Free Lifestyle

Chapter Eight
Make a Difference with Automatic Tithing

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