The Most Popular Self-Improvement Books in Australia

According to the highly reputable, Nielsen BookScan the best-selling book in Australia last year was Scott Pape’s The Barefoot Investor. Australians bought more than 500,000 copies of The Barefoot Investor. It is a financial self-improvement guide, teaching us how to become wealthy, and was first released in December 2016. It also topped last year’s best-selling list. Coming in at number two, was the children’s book 104-Storey Treehouse by Andy Griffith. 

At number three was Mark Manson’ The Subtle Art of Not Giving a F*ck. It was up one from last year, with sales of more than 225,000. Mark Manson is an American self-help author, blogger and entrepreneur, yet he has marketed his book as a reaction against the self-improvement industry. He says too many self-help experts advocate mindless positivity which isn’t possible or helpful to most people. Manson says our personal struggles give life more meaning. Accepting this is a better approach than constantly trying to be happy. I have to say I’ve never been guilty of advocating mindless positivity rather I encourage people to come to terms with their past – to truly accept it – and then go forward.

Between them, Scott Pape and Mark Mason have sold more than one million books in Australia in the past two years. In the US Mason has sold three million books. While well-written, neither of these books is incredibly complicated or revolutionary. The lessons offered in these books are simple. So why do people still have such an appetite for self-development books? I think because it is human to want guidance and mentorship. We feel better about ourselves when we know others share our struggles. We are also encouraged by basic wisdom. 

What wisdom do you have to offer? Have you considered writing a self-development book? In this and my next blog I want to examine both these best sellers. And I want you to ask yourself if you have something worth sharing in a book. Could you also write a best-seller – yes, seriously? Consider it. Okay, let’s look at The Barefoot Investor. Next time I’ll tackle The Subtle Art of Not Giving a F*ck.

The Barefoot Investor

The Barefoot Investor essentially tries to teach Australians how to get ahead financially. In my prosperity mindset books I have been encouraging this for years! Savings and financial security and happiness are intrinsically linked. There is nothing wrong in aspiring to be financially secure, even wealthy. 

If you haven’t already read Scott Pape’s book, here are the nine key steps outlined in The Barefoot Investor. 

Step 1: Schedule a monthly barefoot date night

Scott Pape tells his readers that once a month you need to go out with your partner and talk money. You need to look at whether you are living within your means and saving. Are you achieving your financial goals? I think couples should regularly talk about money. Some people find this hard. They know they have financial problems but can’t face them. I’m sorry but it is essential to be able to talk to your partner about your finances. However I’m not sure I like the idea of doing it on a date! I think if you have a partner, you should reserve dinners out for romance, not finance!

Step 2: Set up buckets

This is just a new way of saying to set up different accounts to pay bills, pay the mortgage and save, etc. Scott Pape says your money should be split three ways. One, have a daily expense bucket, with a little bit extra for the occasional treat. Two, have an account with three months of living expenses in case you encounter a life disaster. Three, have a savings account for long-term wealth. I think this all sounds great, sadly too many Australians can’t afford to do this as they are struggling to make ends meet!

Step 3: Domino your debts

Scott Pape’s next words of wisdom are to avoid debt – sorry, but in terms of wealth creation, that’s a no brainer.

Step 4: Buy your own home

Pape says to create wealth you should buy your own home and try to pay it off as soon as possible. Again, that’s a no brainer. He suggests saving up a 20 percent deposit. Yet that is a challenge for people struggling to make ends meet.

Step 5: Boost your super to 15 per cent

Most of Scott Pape’s ideas are great on paper. Unfortunately too many Australians do not have the wealth or life skills to achieve what he recommends. If you know my prosperity mindset literature you will have already been working towards financial freedom for many years.

Step 6: Boost your mojo to three months

Scott Pape thinks every Australian should build up their savings and have in reserve three months of living expenses in case you occur a life catastrophe, for example you lose your job. Again this is brilliant advice, and if you can do it, do it! However so many Australian families find life tough. Did you know that around one in five Australian children live in poverty?

Step 7: Get the banker off your back

Pape wants us to pay off our mortgage as quickly as possible and to do this you need to get the cheapest interest rate possible and make extra payments. 

Step 8: Nail your retirement number

Pape says we need to start working towards our retirement early. He says you don’t need a million dollars to retire, just a strategy. Perhaps you will have rental properties. 

Step 9: Leave a legacy

Finally Scott Pape asks us to think about leaving a legacy. He wants us to consider how we can make a difference in the world. My prosperity mindset literature asks you to always be donating to good causes while building wealth. His focus is more on saving, wealth creation and then bequeathing a legacy. 

This book is brilliant for very basic money management. Perhaps it is a best-seller in Australia because so many Australians do not understand basic money management. Again I say to you there is a huge hunger among people for books, blogs and videos that provide fundamental life guidance, because we are all human. We all need to be directed, mentored and cared for. That is the key to good self-development books.

If you have thought about writing a book, offering stewardship or advice, I say go for it. Look at self-publishing. I even have run courses helping people to do this.

In my next blog I will look at Mark Manson’ The Subtle Art of Not Giving a F*ck.  I will try to understand why it was so successful, and again challenge you to consider what you could produce in this space.