StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The Wealthy Barber by David Chilton - Essay Example

Cite this document
Summary
The paper "The Wealthy Barber by David Chilton" provides knowledge about being financially independent. The book is about a barber who is famous for his financial knowledge and wisdom. The Barber lives in a small town and is often consulted by some young people for financial ideas…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.1% of users find it useful
The Wealthy Barber by David Chilton
Read Text Preview

Extract of sample "The Wealthy Barber by David Chilton"

Apart from sharing the financial information with the three young people, Roy, the main character offers financial advice to his customers at the barbershop. Roy had a plan of becoming a lawyer when he was growing up, but he later changed his mind. He takes over the barbershop that belongs to his father and begins running it well after a visit to Mr. White, who was one of the wealthiest individuals in the town. The financial advice he gets from Mr. White opens up the way for the accumulation of wealth. After reading the book, I realized that I don’t need a lot of money before I can begin investing. Saving and investing ten percent of my monthly income for the long term can enable me to accumulate a lot of money (Chilton, 8).

I was able to understand that it is better to pay off non-tax deductible debts rather than using the same amount of money in other investments. The best investment begins with paying off loans and other debts. An individual should start paying off loans that have high interest rates. I have realized that in order to be wealthy, I have to ensure that my money works for me. This is because my salary is quite smaller compared to less amount of money invested over time. In order to keep track of finances, an individual needs to write down all the expenditures in a month. I was able to understand that the financial assessment can help identify areas of wastage and thus plan for the money effectively in the future (Chilton, 10).

Additionally, the book offers knowledge on how to save more tax money. Most people require assistance from a tax expert or an accountant so as to be able to identify how to save on tax. Even though the experts can be of help in offering advice, it is important for people to fill the 1040 long forms by themselves so as to identify the items that can be deducted. I agree with the writer based on my knowledge of income tax that being able to understand tax provisions and laws will enable you to plan well and save a lot of tax money. The most important idea that I was able to learn from this book is that I do not need a lot of money to begin saving. Moreover, everything needs a plan in order to be successful (Chilton, 8). Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Discuss an economics-, business- ,or finance-related book you have Essay”, n.d.)
Discuss an economics-, business- ,or finance-related book you have Essay. Retrieved from https://studentshare.org/business/1683711-discuss-an-economics-business-or-finance-related-book-you-have-read-all-the-way-through-and-its-influence-on-your-thinking
(Discuss an Economics-, Business- ,or Finance-Related Book You Have Essay)
Discuss an Economics-, Business- ,or Finance-Related Book You Have Essay. https://studentshare.org/business/1683711-discuss-an-economics-business-or-finance-related-book-you-have-read-all-the-way-through-and-its-influence-on-your-thinking.
“Discuss an Economics-, Business- ,or Finance-Related Book You Have Essay”, n.d. https://studentshare.org/business/1683711-discuss-an-economics-business-or-finance-related-book-you-have-read-all-the-way-through-and-its-influence-on-your-thinking.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Wealthy Barber by David Chilton

Pros and Cons of Bank Regulation and Deregulation

Pros and Cons of Bank Regulation and Deregulation and their Effects on Global Economy Introduction Banks play an important role in economic growth, which is mainly through their contribution in payment and credit systems.... ... ... ... Across the globe, banks are closely regulated to ensure continuity in financial flow....
13 Pages (3250 words) Research Paper

Domestic policies of presidents Reagan, Bush, and Clinton

arber, david R.... Tannsjo states in his book that the Concise Oxford Dictionary defines conservatism as that attitude which is possessed by the person who wants to “maintain existing institutions” (3) when he comes into the government.... .... ... ... How did the domestic policies of presidents Reagan, Bush, and Clinton reflect the rise of conservatism in American politics?...
2 Pages (500 words) Essay

Principles and Contemporary of Mental Health

Principles and Contemporary of Mental Health Instructor: Principles and Contemporary of Mental Health Introduction Womble (2005, p.... 7) writes that mental health literally means the absence of any mental disorder.... It simply refers to cognitive well-being of an individual.... ... ... ... Townsend (2005, p....
11 Pages (2750 words) Essay

Sports Development in the United Kingdom

The paper "Sports Development in the United Kingdom" highlights that the Labour government under Tony Blair and the Coalition government under david Cameron have a lot in common in relation to sports policies and its development in the united kingdom.... ony Blair and david Cameron are the two bigwig leaders of the country, who during their time at the helm of office as the Prime ministers of the United Kingdom came up with different sports policies to develop the sporting sector of the country....
7 Pages (1750 words) Coursework

Types of Presidential Personality in Barber's Habitual Action Patterns

James barber explains some of the personality that a voter can look for. ... (barber 5) ... In connection to this, he sees himself as achieving some of his personal goals (barber 6).... He is also ambitious and power-seeking, and has an aggressive feeling which makes him have a problem in managing the environment (barber 6).... However, because they depend on other people's judgement, they are likely to be disappointed (barber 6)....
3 Pages (750 words) Essay

Is the HIV/AIDS Pandemic Exclusively a Third World Security Issue

This paper "Is the HIV/AIDS Pandemic Exclusively a 'Third World' Security Issue" presents arguments in favor of a greater role for the West in combating HIV/AIDS in the developing world.... The interest in combating HIV/AIDS from an international security standpoint has received comparably little attention....
9 Pages (2250 words) Literature review

Obama as a President

Barack Obama has so far acted as barber's active/positive president and it would be more appreciable if he remains this way.... Lastly, it is very necessary to mention that barber's portraits do help to predict the presidential character of the president as we clearly get to know that what kind of person one is and what are his abilities.... As far as Barack Obama and the portraits of barber are concerned, I think Obama fits into the mold of an Active-Positive president....
8 Pages (2000 words) Assignment

Election Schemes And The Race To The White House

The presidency is the executive power given to a president to govern a country under the check of a myriad of forces and positions.... The paper "Election Schemes And The Race To The White House" discusses the process of the presidential elections and presidential campaigns.... ... ... ... A president is the chief administrator of a government....
5 Pages (1250 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us