The most important thing in life is… Other People.
This book is full of wisdom that accompanies you from the age you enter college until the age you die. I have yet to find a book with that broad of a range of topics. It gives advice from education and chosing a career to investment, legal matters, family and kids – including end of life planning.
The theme of the book is economics, and it gives you a complete roadmap to your financial planning. This is one of – if not the – most important parts of your life. Without good financial habits and forethought, you won’t be able to do much at all.
Underneath the economical aspect, however, lies a deeper truth. Our life is not about amassing “stuff”. It is about spending time.
Time for yourself and your hobbies.
Time to spend with family and friends. Other people.
We have one – and only one – life. This book helps you make it count.
I am actually very happy having read this book. It was one of the longest books I have read, yet time flew by while reading it. This can easily be one of the top five books I have read, because the underlying message is so simple and so important. Don’t attach yourself to stuff. Your time is worth more than material possessions. Spend it on your hobbies and the most important part of life: other people.
What makes this book unique?
What is its most unexpected/controversial insight?
First, Bachelor Pad Economics combines practical advice on health, dating and personal finance with a width of knowledge and topics I have yet to find in another book.
Second, many of the chapters are dealing with choices on earning, handling and investing your money. However, when you buy an item, you do not pay for the physical product, but rather the time that went into manufacturing it. That means the true message of this book is to value your time. Time is finite. Don’t spend it on clutter and “stuff”, spend it on that what really matters – other people.
Can there be a more positive message out of any book?
Significance of this book on my life
Apart from the useful advice on financial planning and some funny dating moves that I can’t wait to try out (e.g. the “betting” technique for getting a date), it helps me to set my priorities straight. Health, time and financial freedom, social life.
Key concepts of “Bachelor Pad Economics”
Finiteness, Time and Happiness
These are three simple philosophies about humanity. If you keep them in mind, you will be able to design the financial strategy that works for your life.
ALL FINANCIAL PROBLEMS come from people, companies and governments spending more than they make.
In chapter #3, Bachelor Pad Economics shows how to keep a budget and how to understand the basics of balance sheets, income statements, tax returns. Moreover, you may not need many possessions to be happy. Therefore, this chapter also gives you advice on how to live a more minimal lifestyle, if that is for you.
Education is an investment to increase the value of your time.
Therefore, chose a major and/or career that is in demand.
Entrepreneurship requires hard work, innovation, foresight, creativity and tenacity.
It’s not easy, but it can be a good way to become financially independent.
The relationship between men and women is determined by economics.
Supply and demand for sex.
Get a motorcycle.
Like beer and video games, motorcycles are a gift from God and he wants you to ride them.
When you retire, you are technically and truly free.
There is no one and no thing you have to answer to. Plan your retirement well.
Understanding economics is essential for understanding reality.
Everybody should make himself familiar with the basic concepts.
For “End of Life” planning, don’t forget to focus on having fun!
Of course, don’t neglect downsizing your possessions and estate planning – and don’t let death ruin your life.