I finished reading this a week or two ago, and I find that I keep looking back at it and reading over sections of it again. This is the kind of book that I can't resist: statistics from detailed research, used to give background to a meaningful discussion of the economic and social problems being discussed. And the data is well supported by quotes from and interviews with the wealthy people discussed — the phrase "Big hat no cattle" is certainly worth remembering :-).

The big idea of the book, really, is the fundamental division that it makes between the affluent (those who earn, and spend, a lot), and the wealthy — who don't necessarily have a very high income, but consistently spend less than they earn. This is a division that is simply not present in most people's ideas about money, and the boring reality of wealth given by this book is certainly one that gets no attention in films or TV. The clear evidence that most wealthy people are self-made is also something that goes against conventional wisdom.

There are many examples of both wealthy and could-be-but-not-wealthy people discussed, and these are really the core of the book, lifting it from being just analysis to a good read. The examples come across as very contrived, due in part to the choice of fake names to anonymise examples (e.g. Dr North and Dr South to be opposites). But they work when you get into the detail, as the portraits given are very thorough and convincing. The discussion group near the end, where one high-earning-but-not-wealthy businessman was accidentally included in a group of wealthy businessmen being questioned for the research, was (as the authors noted) a real piece of good luck, as the resulting discussion shows very clearly how people can make a real mess of their financial planning.

The breakdowns of spending by profession are particularly interesting. The idea that doctors often earn a lot but aren't wealthy, because they tend to work long hours and rely on the advice of others on money matters; whereas auctioneers are professionally involved with money all the time, so are much more sensible with their own. And the idea that lawyers are often not wealthy, because it is a required part of their image to keep up with the expensive suits and cars of their wealthier clients.

I have seen this book recommended for people with money problems. I suspect it is a good wake up call for overspending professionals, but not much use to those with income problems, as this is taken for granted.