Just Keep Buying audiobook cover - Proven ways to save money and build your wealth

Just Keep Buying

Proven ways to save money and build your wealth

Nick Maggiulli

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Money & Investments

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Just Keep Buying
Core Philosophy+
Saving Strategies+
Growing Wealth & Investing+
Rethinking Debt+
Guilt-Free Spending+

Quiz — Test Your Understanding

Question 1 of 6
Why does the author reject the standard financial advice that everyone should save a fixed percentage of their income?
  • A. Because inflation makes fixed savings percentages irrelevant over time.
  • B. Because empirical evidence shows that income level is the biggest determinant of a person's ability to save.
  • C. Because saving a fixed percentage is usually too low to guarantee a comfortable retirement.
  • D. Because fixed percentages ignore the psychological benefits of spending money on oneself.
Question 2 of 6
How does the author recommend tracking your outgoings to figure out how much you can save?
  • A. Track every single cent you spend using a dedicated notebook or app.
  • B. Focus only on variable expenses since fixed costs like rent never change.
  • C. Determine your fixed costs and estimate your variable expenses based on averages.
  • D. Ignore your expenses entirely and focus solely on increasing your monthly income.
Question 3 of 6
What is the primary investment strategy the author derives from the fact that 'most stock markets go up most of the time'?
  • A. Wait for a major market crash to buy stocks at a significant discount.
  • B. Continually purchase stocks over time, regardless of market conditions.
  • C. Invest exclusively in rapidly growing emerging markets rather than established ones.
  • D. Shift your investments entirely to cash or real estate during economic recessions.
Question 4 of 6
According to the 'credit card debt puzzle' discussed in the text, why might a low-income earner rationally choose to hold both cash and high-interest credit card debt?
  • A. To build up a higher credit score by showing lenders they can carry a balance.
  • B. To take advantage of tax deductions associated with paying credit card interest.
  • C. To hedge their bets and preserve liquid cash for emergencies they couldn't otherwise afford.
  • D. Because they are acting on an irrational psychological impulse to spend rather than save.
Question 5 of 6
How does the author suggest we evaluate our spending to avoid financial guilt and improve our quality of life?
  • A. By ensuring every discretionary purchase is approved by a strict monthly budget.
  • B. By strictly limiting non-essential spending to exactly 5 percent of our total income.
  • C. By filtering purchases based on whether they provide long-term fulfillment through autonomy, mastery, or purpose.
  • D. By only buying physical assets that are guaranteed to appreciate in value over time.
Question 6 of 6
What is the overarching philosophy of Nick Maggiulli's financial advice as presented in the text?
  • A. Financial rules are universal and should be strictly adhered to by everyone regardless of income.
  • B. Financial decisions are highly context-dependent and should adapt to an individual's messy reality.
  • C. The key to building wealth is extreme frugality and cutting all unnecessary daily expenses.
  • D. Debt is inherently bad and should be avoided entirely to achieve financial freedom.

Just Keep Buying — Full Chapter Overview

Just Keep Buying Summary & Overview

Just Keep Buying (2022) is a no-nonsense guide to personal finance that delights in busting myths and dispelling old clichés. Tackling all-important questions like saving and investing, it digs into the psychology behind money and provides a realistic guide to making sound financial decisions. 

Who Should Listen to Just Keep Buying?

  • Would-be savers 
  • Guilty spenders
  • Future investors

About the Author: Nick Maggiulli

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

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