Just Keep Buying | Nick Maggiulli

Summary of: Just Keep Buying: Proven Ways to Save Money and Build Your Wealth
By: Nick Maggiulli


Embark on a captivating journey through the world of personal finance guided by the principles of adaptation observed in Alaska’s Dolly Varden charr fish. In ‘Just Keep Buying: Proven Ways to Save Money and Build Your Wealth’ by Nick Maggiulli, you’ll discover the fallacies of conventional financial expectations and learn about the importance of adapting your saving and spending behavior based on your own unique circumstances. Diving into relatable examples from the natural world, the book helps readers learn to save wisely, deal with debt strategically, and handle financial stress effectively, all while striving for long-term fulfillment.

Learning Financial Lessons from Dolly Varden Charr

In “How to Spend Money,” the author uses the example of Dolly Varden charr, a type of fish in Alaska, to explain the concept of phenotypic plasticity, which is the ability of a species to adapt to its environment. The charr lower and raise their caloric intake according to how much food is available and this adaptability can be applied to saving money. The article challenges the common advice about saving, which assumes that everyone has the same ability to save, and instead suggests saving what you can, when you can, in accordance with your income and circumstances. The reality of life’s unpredictable highs and lows and financial consequences makes it impossible to find a single, neat rule that covers everything. Thus, the Dolly Varden charr’s maxim is a useful principle for financial planning – save what you can, when you can.

Saving Money Made Simple

A practical guide to saving money by understanding your income and spending habits.

Saving money is often viewed as a matter of discipline, but it is actually a mathematical equation. In order to save, one must understand their income and spending habits. To simplify this process, start by determining your fixed monthly costs and estimating the rest of your expenses. Then, subtract your total spending from your income to calculate how much you can save.

While the general rule of thumb is to save 25 times your annual expenditure for retirement, the amount needed ultimately depends on one’s desired lifestyle. Rather than sacrificing current quality of life, the more effective solution is to increase income. In short, saving money doesn’t have to be complicated or painful, but instead requires a practical understanding of one’s finances.

Why Growing Your Income is Key

The key to financial success is to keep growing your income. While cutting expenses can only get you so far, growing your income has no limit. Even if you’re already financially comfortable, there are still benefits to earning more. The author shares insights into how to do this, using examples from horse racing to stock markets. One crucial message from the book is that it’s worth investing in stocks, as most markets tend to go up over time. Even sluggish markets like the Japanese stock market eventually recover, so it’s important to keep investing. By spreading investments globally, you can increase your chances of financial growth. With the right mindset and strategy, anyone can develop a strong financial future.

Want to read the full book summary?

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed