Mastering the Art of Spending

(Read time: 4 minutes)

Good morning,

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Without further ado, your Thursday newsletter.

Read This

The best articles I’ve read recently.

Getting wealthy vs. staying wealthy (Morgan Housel)

Index funds give you freedom (Jack Raines)

Why the FIRE movement is losing steam (Financial Samurai)

How to negotiate your salary (Ramit Sethi)

Use Chase Ultimate Rewards like a pro (Points Guy)

Not That

The type of shit you should ignore.

2 Top Biotech Stocks to Buy in February

Leading Dividend-Paying Tech Stocks to Buy Amid Current Climate


“We’re often taught how to save and invest, which are, of course, important. But it’s also crucial that we learn to spend. Money is a tool, not a goal.”

Use money strategically to improve your life

Invest in yourself through classes and training

Share with loved ones through gifts and random acts

Tip service people generously

Donate to causes that you care about

Success Story

A friend of mine recently asked for some help organizing his finances.

He makes great money but felt like he wasn’t making the sort of progress that he hoped for.

I answered some questions and sent him some resources.

Yesterday he sent me a text saying that he:

Opened a high-yield savings account and set up his direct deposit to send 10% of his income there

Opened a brokerage account and set up his direct deposit to send 10% of his income there

Opened his first IRA

Got a travel credit card to increase his credit limit and earn more rewards for spending

I congratulated him on all this (BFD) and he said:

“Thanks man. I needed that fucking push.”

So maybe you open these emails and think “that’s nice” and move along with your day.

But keep my friend here as an example.

These systems he set up will make him a millionaire, most likely before he’s 40.

He’s incredibly smart, but he just needed that “fucking push.”

So, dear reader, I offer you the same. Here’s your push to get started.

If you have a success story that you’d like to share (something you’ve changed after reading this newsletter), send me an email at or respond to this email.

Together with Chase Sapphire Preferred


I often get asked about my favorite credit cards.

I have a small handful, but my first great card, and the one that changed the game for me with points and rewards, was the Chase Sapphire Preferred.

The Chase Sapphire Preferred has an awesome signup bonus, a reasonable annual fee, and tons of rewards value.

If you don’t have a travel card yet, then this is an excellent option.

I used my welcome bonus to get three nights at a Hyatt (one of my favorite ways to use Chase points).

Welcome Bonus: Earn 60,000 Bonus Points after you spend $4,000 on purchases in the first three months

$50 Hotel Credit

5X Points on Travel Purchased Through Chase Ultimate Rewards

3x Points on Dining, Streaming, and Online Groceries

2x Points on Travel

1X Points on Everything Else

Annual Fee: $95

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@ramit We’ve modeled this, too. Folks vastly underestimate how expensive it is to own a home.

— (@honest_math)
Feb 3, 2023

Before you jump down my throat, I’m not saying real estate isn’t a good investment.

What Ramit & HonesMath are saying, and what I agree with, is that owning a house costs more than people think it does.

When you rent, that’s the max you’ll pay for housing.

When you own, your mortgage is the least you’ll pay for housing.

For the last seven months or so, I’ve been managing a remodel of a family property and let me tell you: it’s taken longer, been more expensive, and been more frustrating than I thought it would be from the start.

Often times we ignore costs outside of a mortgage, like repairs, upgrades, maintenance, and more.

I’ll still be answering reader questions, so if you have one send it over!

I’d also love to hear if you’ve implemented any of the principles I share here. Respond to this email and let me know.



PS: Learn to invest like an expert.

Disclaimer: This newsletter is strictly informational. It is not investment advice, tax advice, financial advice, or a solicitation to buy/sell any assets. Please do your own research. You’re an adult and you’re responsible for your own decisions. This newsletter may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links (at no cost to you).