Mark Brown


I am a big fan of the Barefoot Investor, this entertaining and helpful book gives simple step by step instructions that any Aussie can follow to become financially secure. His advice is sound and will help you to protect yourself and your family.

I’ve always been a good saver. I was content with less and avoided debt like the plague, I've never owned a credit card. Yet, I thoroughly enjoyed reading and applying the Barefoot strategy because it helped me put our finances on autopilot.

Here's a summary of his strategy:


Setup your accounts - Rather than budgeting, split your income into four categories as it comes in to limit your spending.

2 Everyday accounts:

  • Daily Expenses: 60% of your income. For living expenses like food, transport and insurance.
  • Splurge: 10% of your income. Spend guilt-free on whatever makes you happy.

3 Savings accounts:

  • Smile: 10% of your income. Bigger things like holidays and weddings.
  • Fire Extinguisher: 20% of your income. Pay off debts and save up a deposit.
  • Mojo: Cash at hand for emergencies: $2,000 to start.

Get your Super sorted - Go with the lowest fee paying Index Fund you can find.

Get your Insurance sorted

  • Top level hospital cover with a $500 excess through private health insurance.
  • 12 times your annual salary of combined Life and TPD plus Income protection for 75% of your wage til you reach 65 through your super.

Eliminate your debts - Re-negotiate and pay off any debts from smallest to largest with your Fire Extinguisher.


Save a 20% deposit on your home loan with your Fire Extinguisher.

Buy your home

Boost your Super to 15% - Add an additional 5.5% with pre-tax salary sacrifice.

Boost Mojo to 3 months Daily Expenses with your Fire Extinguisher.


Pay off your mortgage with your Fire Extinguisher.

Re-negotiate your home loan when you've paid off 20% of the loan.

Boost your Mojo to 3-5 years of daily expenses with Fire Extinguisher into Super cash account.


Additional steps:

Write your will and detail all accounts for your family.

Be generous and leave a legacy.


Read the book!