About the Barefoot Blueprint — The Barefoot Investor - Scott Pape (2024)

FAQs

What is The Barefoot Investor theory? ›

Instead of putting all of your income and expenses into spreadsheets, the Barefoot Investor, advocates to divide your money into “buckets.” This approach ensures that your daily expenses are separated from splurge purchases such as coffees, as well as ensuring smile purchases, such as holidays are achievable – all ...

The Barefoot Investor guide builds long-term wealth by moving your income through three buckets. Within these buckets are a chain of bank accounts. The approach suggests that you live day-to-day on 60% of your income, with the other 40% going towards paying off debt, saving and building your wealth.

We closed the doors to the Barefoot Blueprint in June 2019 for one final, amazing year — and officially shut it down for good on the 1st of July 2020.

In “The Barefoot Investor”, the author provides readers with practical guidance and effective strategies to effectively manage personal finances, eliminate debt, and cultivate wealth.

60/20/20 budget rule

This rule was implemented by Scott Pape, a financial advisor who wrote the popular finance book, “The Barefoot Investor: The Money Guide You'll Ever Need” and he suggests that 60% should go towards needs, 20% for wants (aka splurge in his terms) and 20% for savings.

Yes, our entire money management plan consists of dividing our income into three 'buckets': a Blow Bucket, for daily expenses, the occasional splurge and some extra cash to fight financial fires. a Mojo Bucket, to provide some 'safety money', and. a Grow Bucket, to build long-term wealth and total security.

Set Up Your Barefoot Buckets (Accounts)

This next step is based on Pape's 'Serviette Strategy', which he wanted to make so simple that he was able to write it out on the back of a serviette, hence where the name came from.

People may find it empowering to organize their money in four buckets: liquidity (cash), lifestyle (spending), legacy, and perpetual growth. In this way, they discover whether their money is organized—and utilized—in a way that supports their intentions.

You can't retire until you've nailed your retirement number as a minimum (more money is better): $250000 in super for couples and $170000 for singles.

Is the Barefoot Investor worth it? ›

Good common sense advice in this book that is relevant to Australian situations. Definitely worth a read. I learned what some investment terms mean and feel less daunted about taking the big leap into the stock market as a beginner.

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