The discussion dives into the idea that saving money is really just deferred spending. Each dollar should have a purpose, whether it's future travel or holiday gifts. The host uses personal anecdotes to illustrate that money can bring joy when used thoughtfully. By reframing savings as a way to enhance future experiences, the conversation encourages a more enjoyable outlook on financial planning.
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insights INSIGHT
No Such Thing as Savings
There is no such thing as savings; money is always meant to be spent, either now or later.
Label savings as spending later to clarify its purpose and make spending more intentional.
question_answer ANECDOTE
Saving for a Showy Coffin
Jesse plans to spend saved money on a fancy coffin reflecting his personality.
This illustrates that saved money is ultimately for spending, even after life.
volunteer_activism ADVICE
Assign Future Spending Jobs
Name every saving with the specific future expense it will cover, like tuition or rent.
Vividly imagine spending that money to increase enjoyment and clarity about its purpose.
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What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
The millionaire next door
William D. Danko
Thomas J. Stanley
The book challenges the common perception that millionaires live in affluent neighborhoods and instead shows that many wealthy individuals live modestly in middle-class and blue-collar areas. The authors identify seven common traits among these millionaires, including being dedicated to a vision, making appropriate career decisions, valuing financial security over social standing, and efficiently spending time and money. The book also distinguishes between 'Under Accumulators of Wealth' (UAWs) and 'Prodigious Accumulators of Wealth' (PAWs), emphasizing the differences in their spending and saving habits.
It seems obvious that you should save money. It's the right thing to do, after all! But even the words that we use talk about saving money have problems -- should, ought -- loaded with moral baggage. Jesse reminds us that even money earmarked for savings is still spending, just spending that has been deferred to a later date, retirement for example. That money still needs to have a job, however. Saving for what in retirement? Utility bills? Travel? Presents for the grandkids?
Money for the future has a job just like money for the present, and when you view money through the lens of giving every dollar a job, you begin to see that money is only meant to be spent. There is no savings, only spending!
The Jesse Mecham Show 
