Books Reviews

Just Keep Buying: Proven ways to save money and build your wealth

Just Keep Buying (2022) is a straightforward guide to personal finance that revels in debunking myths and eliminating old cliches. It delves into the psychology of money and presents a realistic guide to making healthy financial decisions, including all-important subjects such as saving and investing.

About the Arthor


Nick Maggiulli is the chief operations officer and data scientist of Ritholtz Wealth Management. He is also the author of Dollars and Data, a popular blog that takes a data-driven approach to personal finance. Maggiulli has written on money for the Wall Street Journal, the Los Angeles Times, and CNBC.

Money will disappear if you don’t use it wisely

My grandfather was addicted to horse racing. Even though he had a monthly income of around $2,200 with very little to pay out, he never invested a dime. Had he invested, he would have been a millionaire. Instead, he gambled it all away and died with zero assets at the end of his 26 years of retirement.

 It is effortless for money to evaporate. You only have to go out for drinks with your friends, and before you know it, a large chunk has disappeared. but, by turning your attention to saving and investing, you will find that your attitude toward all money changes for the better.

 Most people avoid investing because they don’t understand where to start. Small steps and deliberate decisions, on the other hand, may be all that is required.

 The subject of savings comes first. After all, you cannot invest what you don’t have. But the amount you save will differ from the amount another person may choose to invest; we all have different financial capabilities. Of course you need to live your life comfortably and enjoy the benefits of earning a regular salary, but you also need to be able to put a good amount aside for the future.

But how much? The way to figure out where your focus should be is to think about how much you think you can save over the coming 12 months; this is your expected savings. Then, think about how much your investment should grow in the same amount of time; this is your expected investment growth. Which is higher?

Understanding where to place your focus is the first step toward a brighter financial future. After all, that’s what we all want, isn’t it?

If your expected savings are higher, you need to save more cash before you start investing. If your expected investment growth is higher, you need to look at how you can diversify and make the most of your investment. If you are someone who struggles to understand savings and investments but you want to start creating a better financial future, this summary is for you. You will learn the answers to some of the most commonly asked financial questions and gain the confidence to make moves in the right direction.

Savings don’t have to be a traumatic subject

 Most people want to save but never get around to it. It’s not the most glamorous of subjects, but it’s also a topic you should address. Putting part of your salary away every month means you can’t spend it, but it also means that you are improving the quality of your future. Your future self will thank you for it!

One of the biggest misconceptions about savings is that you need to put away a large chunk every month. The truth is that you probably don’t need to save as much as you currently think. There is also no universal amount that everyone should say. Every person has different responsibilities and financial needs from month to month.

For example, we have been told to put away 20% of our monthly salary for many years, but that doesn’t work across the board; you may find yourself a little short on cash in January and then in August. That means you should save more in August and just do what you can in January.

It is better to set aside at least a small amount than nothing at all. You need to have a decent quality of life while you are saving; there is no other way. Putting all your money away and then finding that you are miserable at home, saying no to every invite to go out with your friends It’s about finding a balance. When you say you can do it every month, you’ll notice you’re less stressed than you would otherwise be. First, you will have something in your savings accounts, and second, you should stop worrying about meeting a monthly savings goal.

when we have the ability to save more, we should save more and when we don’t, we should save less

A good rule of thumb is to look at your income minus your savings; what is left is the amount you can save. If you want to increase your savings a little more, look at ways you can earn more cash, such as selling a skill or service, selling some unnecessary things from home, studying something that will bring additional income, looking for a promotion at work, or taking advantage of available opportunities.

 Spending without guilt is entirely possible

 We all enjoy spending money. It is universal because it brings a brief period of enjoyment and happiness. Of course, we dislike spending money on bills and other frivolous matters, such as purchasing something nice for ourselves. That’s always fun. The good news is that there is a way you can spend money without having a large amount of guilt attached to it.

 If you choose to splurge, make sure it’s worthwhile and not something you will throw in a cupboard after a few weeks.

The author has developed what he calls the “2x rule.” When you want to buy something, big or small, you should invest the same amount of money in something that will bring a return in the future. Then you are not only getting what you want, but you are also positively investing. There is no sin in that, and therefore no guilt.

 A second way to spend without having a mountain of guilt afterward is to make sure that you maximize the fulfillment you get out of whatever you are purchasing. however author points out that for fulfilment and happiness are two different things; you can easily be happy for a short amount of time when you buy something, but fulfilment is for longer lasting

Make sure that whatever you choose to spend is aligned with your life goals and reflects what you are trying to achieve in life. For instance, if you have a life goal to write a book, buying a new laptop will help you achieve that. In that case, you’re getting the most out of your film investment because it’s assisting you in achieving your life goals.

 Did you know? according to a 2017 survey by nerd wallet, 49% of Americans blame their emotion for spending more than they can actually Afford

Perhaps death isn’t the negative thing we believe it to be

 If you find that you can’t afford to get by on your salary alone and need to use credit to afford life, this is a huge red flag that you should address. Yet, in some cases, it is possible to use that to make sure you have more money in the future.

Before signing a credit card agreement, make sure the interest rate is not too high. Do some research on average rates at the time.

 Some people have both credit card debt and savings accounts. They could comfortably pay off their debts with the money they have acquired in their savings accounts, but they choose not to. Why? They are doing what is called “financial hedging.” Rather than paying off the debt and reducing their savings, they are cutting down on the long-term risk of not having enough money in the future. In addition, many people take out loans with low interest rates, choosing not to pay them off with their savings. They do this because they know that the interest rate means they will pay the debt far quicker than they would be able to top up their savings accounts once more.

When it comes to reducing risk, debt can be used to provide additional liquidity, smooth cash flow, or decrease uncertainty.

There are numerous options available to assist you in getting out of debt. However, keep in mind that debt can have an impact on your mental health. The simple knowledge that you have money can be stressful for some people. It is also important to only go into debt by choice, not because it is the only option. If this feels like the case for you, seek out financial advice. 

 Simply purchasing the minimum on a credit card will not allow you to reduce the balance and will instead result in you paying more to the company through interest. So, while not paying off your balance from your savings is not always a bad idea, you should make sure that you are paying enough every month to make headway on the balance. That way, if you want, you can clear it and use it again in the future. 

The Big Question: To Buy or to Rent?

 At some point, we all face the question of whether we should attempt to get into the property ladder and buy a house or continue to rent idiot

It’s more difficult than it used to be to buy a house, but that does not mean it’s impossible. You also need to be clear that you will continue to rent for a long time. means that you are literally throwing money away. Because of that, most people dream of having a home that is there and that does not belong to a landlord they rarely see—or, in some cases, far too often.

Renting a home, on the other hand, is not a sure thing. There are many costs associated with buying a house, not to mention maintenance costs on top of the mortgage. So, when you go to buy a house for the first time, you will need to have between 3.5 and 20% of the house cost and the application fees in savings. Depending on the price of the home, that could be a considerable amount of money and will take time to save.

A home is also an investment, as you may be able to sell it for a profit later on.

Because renting is a risk, there are unknown costs over the long term and plenty of uncertainty. In addition, there will be associated costs if you need to move in the future.

Whether you buy or rent comes down to whether you can save up the deposit, but if you are still unsure if it is the right step, you need to think carefully. author says that you should only buy a house if you can satisfy the following criteria

  •  You plan to stay in that town or city for at least 10 years. 
  •  your job and personal life is stable. 
  •  you have the cash to afford it comfortably.

 If you cannot take all three boxes, you need to stick with renting until your situation changes.

The world of investment does not have to be complicated

Investing needs to be done carefully and with research. but you might be surprised to learn that it does not always have to be an extremely complex process. By taking your time and getting the right advice, you will be able to invest your cash and look forward to a secure financial future.

Why is investing a good route? It is simply the money available for use in retirement. We all know that. tends to give us enough to live a high-quality life, but investments will provide you with enough money to enjoy your retirement at a time when you deserve it the most. Investments are also a great way to protect your money from inflation.

If you are worried about market crashes, consider investing in a lower-risk area. Also, no, crashes are highly unlikely to happen.

Understanding what you should invest in is the most challenging question. There are countless options, but most people stick with bonds and stocks. Yet, if you want to create a recording, you should check out all the options, including:

Stocks are a popular choice because they are reliable over the long term, but they are also quite volatile. However, bones are safer because they are less inconsistent, even though they will bring lower returns for that lower risk level.

It is critical to invest as soon as possible rather than postpone living until later. In most markets, we should take our time, but that does not mean delaying your investment is a good route forward. It is a chaotic choice that risks you paying higher prices the longer you wait.

It is normal to be worried about investing a large amount of cash, but stick with a smaller investment if you have real concerns; that way, you still get some return without the stress and risk. 


There is a reason why money is one of the leading causes of stress. It is a subject that few people fully comprehend and can easily misinterpret, depending on the reliability of the advice.

We all need money to live, but we also need to think about a time in the future when we want to have a regular pay check coming in. Savings and investments are an excellent answer to that issue.

If you had gone online to research how much you should be saving every month, you probably would not believe your eyes and wonder how you are supposed to find that much spare cash. The good news is that money matters are entirely personal and vary from situation to situation. If you can only save X amount in a particular month when you usually have more, don’t worry. Put away what you can and acknowledge that you have done something. It is enough.

Do not complicate matters by drawing up an investment plan the moment you get a small amount of cash in your savings account, either. works slowly. Focus on saving, and when you have enough, turn your attention to investments. Crushing your mind with too many subjects leads to burnout.

This summary should have helped you feel less confused and worried about building your wealth over time. You will now see that while you should turn your attention to it, it does not mean you need to save every penny either. You can live your life! 

  • Sit down and work out your monthly outgoing as honestly as you can. Is there anything you can pay for now or reduce?
  •  Open a dedicated savings account, preferably one with a high interest rate, and transfer money to it every time you get paid.
  •  start researching different investment options and ask question when they arise dash which they will! 

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