This book gives practical financial guidance that will help you build your wealth. Instead of focusing on excessive leverage, fancy derivatives, and timing the market, the book emphasizes simple money management strategies such as budgeting and saving. This book will help you understand how to avoid purchase guilt and build your wealth. Listed below are the key takeaways of how to learn personal finance from Just Keep Buying by Nick Maggiulli.
Saving Money Is a Foundational Part Of a Bright Financial Future
As a parent, you can set an example by teaching your children the value of saving money. Children learn by watching what their parents do with their own money, so show them how to compare prices and why one item is more worthwhile than another. Repeating this lesson often, even on a day when money is tight, is an important part of laying the foundation for a bright financial future.
Couples should have an open dialogue about household finances. Identify the resources and goals for the family. If one or both members are not on the same page, the best-laid plans will fall flat. Couples should also understand the difference between wants and needs, and learn to say no to unnecessary spending. As a couple, you can set financial goals and work out a budget together. Save for America offers a free program for families.
Investing is Simple
Investing is simple from Just Keep Purchasing by Nicholas Wade is a great guide for anyone looking to get their feet wet in the world of investing. This book is filled with data that supports its thesis of buying stocks until you feel they are worth more. The authors also discuss Spiva Reports, which compare the performance of active managers to the index benchmarks. Just Keep Buying is a great read for people who enjoy the numbers game.
As a data scientist, He is a prolific writer and runs the personal finance blog Of Dollars and Data. He has written numerous articles and blogs on investing and has been featured in a number of major publications. As a result, his book contains a wealth of practical information on how to make your money work harder for you.
Eliminating Purchase Guilt
In “Eliminating purchase guilt from Just Keep Buying by Nic Maggiulli”, author Nick McGuilli lays out a counterintuitive approach to investing and personal finance. Instead of saving for a downturn, he suggests investing for a long-term return. In this book, he explores the research and data behind investing in index funds.
One of the main takeaways of the book is to make small purchases frequently and with less guilt. The author suggests a two-fold spending rule which can be effective in removing purchase guilt, even for larger purchases. Other useful techniques include dollar-cost averaging, which can be more effective than trying to time the market and saving for emergency funds. Finally, he suggests that you should consider maxing out your 401k.
Having a Budget
There are many things we should do to keep our money in check, including creating a budget. This is a big one. If we can’t control ourselves and our impulse buying, we will never be able to save for the things we really want. The book has many other tips and insights, as well. You can use these to set yourself up for success.
The book is divided into two parts. Part one of the book discusses how to save money. Part two deals with investment. Both parts of the book offer a sound investment and saving strategies. They also discuss debt and the mindset you need to develop when investing. For those who like numbers, this book is a great read. There are plenty of examples of people who have implemented these strategies and achieved success.
Just Keep Buying by Nick Maggiullo is a must-read for anyone who has dreams of becoming rich. It provides readers with proven money-building strategies, from how to save less, to how to thrive in the face of market crashes. As an avid numbers person, I appreciated the author’s insight into the human psychology behind investing and saving. His advice can help you get started on your path to financial freedom, and you’ll have no trouble following his guidance.
The author offers a surprisingly counterintuitive approach to personal finance and investing. He says, “There is no reason not to invest your money in index funds,” but there are other options. One of these options is buying a home or investing in real estate. But you must first cut out your spending if you want to save more. And you shouldn’t spend more than you earn.
Whether you’re still working or haven’t started saving for retirement, there are a few takeaways from Just Keep Buying by author Nick Maggiulli. First, save versus invest, and remember to buy index funds and income-producing assets. Save early, and you’ll save more for your retirement, and avoid lifestyle creep by making smart investments early.
This book is a must-read for anyone interested in compounding and investing. Nick Maggiulli’s research has led him to make some interesting observations on the subject. For example, most personal finance books focus on the accumulation stage. However, his observations on the drawdown phase are equally important. While you should avoid selling assets in their drawdown phase, it’s not necessary to sell them right away.