Kochie's 11-Step Money Plan for a Better Life Audible Audiobook – Unabridged
David Koch, online entrepreneur, finance journalist and trusted Australian media personality, knows a thing or two about the family finances.
Father of four kids, sole breadwinner, and a man not afraid to admit to his own odd money mistake, David has also spent hour after hour in the Sunrise studio tuning in to the way the average Australian thinks about money. He knows the extent to which we all:
- Spend too much on silly stuff.
- Avoid keeping track of our expenses.
- Get overwhelmed by the cost of raising a family.
- Settle for less in terms of salary.
- Do without the things that would bring a bit of pleasure to our lives.
- Pay the banks too much in fees and interest.
David is here to help. In 11 easy steps he shows us everything we need to do to:
- Pay less on the mortgage.
- Put up to $14,000 extra back in the average family budget.
- Get those finances sorted in 15 minutes a month.
- Develop a side hustle or get a salary increase (or why not both?).
- Learn a little about investing for the future.
- Tackle debt once and for all.
Friendly, clear and easy to use, this is the guide you need to reset your money habits so you can learn more, worry less, breathe easier and enjoy of the fruits of your labour.
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|Listening Length||8 hours and 50 minutes|
|Whispersync for Voice||Ready|
|Audible.com.au Release Date||26 March 2019|
|Publisher||Macmillan Australia Audio|
|Best Sellers Rank|| 18,461 in Audible Books & Originals (See Top 100 in Audible Books & Originals) |
126 in Budgeting & Money Management
229 in Personal Finance (Audible Books & Originals)
2,674 in Motivational Self-Help (Books)
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It does not present an "easy, common-sense plan" at all - the "11-Step Money Plan" is quickly lost in references to "here is my nine-point definition of rich", "here are 8 money lessons we can learn from the wealthy" and "these 10 important traits" (those just from the first "step").
The recommendations in the book are for things that Kochie openly states he can't follow himself - "hey, try to plug your financial holes by following these nested steps of checklists of steps of traits that I can't follow myself but good thing I've got a great wife who is able to do it for me". It sounds like Libby is fantastic and full credit for Kochie for raising what sounds like a great family. However at times, it felt like the book could have been better summarised as "find yourself a good partner who can manage your family finances".
If you are a regularly watcher of Sunrise, or follow a few soft-finance blogs - there is literally zero need to read this book. Since the 11-Step Plan reads like Kochie has taken the PowerPoint from every finance guest that has come on, and pasted together their checklists of do's and don'ts into loosely related topics without any joined-up, connected and consistent plan being apparent.
Suggestions like opening your windows instead of using air conditioning to save costs were jarring (and inaccurate, since at freeway speeds the drag from open windows means aircon is more efficient). With the ultimate sin for me being when he used an example of a 10% payrise on $80k resulting in an extra $40k in your pocket over five years - ignoring the 34.5% tax that you would be paying on it. His example overstated what you would be getting by almost 50%.
Interspersed amongst the checklists were attempts to relate to the average battler but stories of his CEO dad, partnering with Fairfax, and working out of the London office on takeovers plus constant Sunrise / media career references didn't really help resonate when he said "we too feel mortgage stress".
Suffice to say that I'm fairly disappointed with this effort - I am actually a fan of Kochie on Sunrise and generally find his views on finance to be well articulated and relatable. This book is not coherent in any way and $4.99 is the price I've paid to learn the lesson that hopefully this review will teach you for free.