Unless you’re a personal finance nerd like me, talking about finances can be as much fun for you as watching paint dry. People are talking about it more in the media and people are writing books about it. Yet it still doesn’t really seem to come up in conversation at the dinner table or when you’re having a few beers with colleagues after work.
Robert Brown, author of Wealthing like Rabbits, gets personal and discusses personal finance as if he was having a casual conversation with you. Perhaps with a beer in hand. When I first heard the title, Wealthing like Rabbits, I automatically thought of rabbits and the rate at which they multiply. Robert encourages us to start saving early and watch that compound interest grow, just like a population of rabbits.
By using pop culture references, Canadian humour and some of his own personal anecdotes, he makes it enjoyable for readers to get into personal finance. A fun spin is put on topics such as mortgages (involving the Super Mario Brothers) and using characters with funny names such as Buddy and Buddy-Lou when describing not so hypothetical scenarios.
One of the chapters that brought a smile to my face was Chapter 3: Lessons in Saving From the Toronto Maple Leafs.
The chapter begins like this:
“Every spring, the Toronto Maple Leafs disappoint their fans. More often than not they fail to make the playoffs. Every spring, the Leafs swear that next year they will do better. Next year. Next year.”
He cleverly compares their losing streak to many Canadians and their attitude to RRSPs.
“Every spring, millions of Canadians file their income tax returns. More often than not they fail to contribute enough to their RRSPs. Every spring, millions of Canadians swear that next year they will do better. Next year. Next year.”
Basically he encourages us to start our RRSP early, contribute to it regularly and leave it alone or in other words, “not to be a Maple Leaf.”
Although I do reside in the Greater Toronto Area (GTA), I am not or never was a Maple Leafs fan. Neither am I a Maple Leaf when it comes to my finances. I have no desire to have that long of a losing streak.
If the education system ever had some sense knocked into them and incorporated personal finance courses into the curriculum, then Wealthing Like Rabbits should be one of the required texts. If parents don’t feel comfortable talking to their children about finances, then give them a copy of this book for their next birthday or when the holidays come along. Give them a head start on their finances.
I thought the quotes from popular television shows and movies before the beginning of every chapter was a nice touch. So were the more personable footnotes and fun facts. I still have yet to go to Casa Loma, but I had no idea that back in the day it was actually someone’s HOME at one point. Sir Henry and Lady Mary Pellatt’s to be exact.
I relate to Robert’s writing style very well because it’s got the sarcasm, witty humour and random thoughts that I find in my own writing on MakintheBacon. 🙂
If you are overwhelmed by the vast assortment of personal finance books and have no idea where to begin, Wealthing Like Rabbits is a good place to start. It will help you understand RRSPs and TFSAs better. You will learn a lot and actually have some fun along the way.