The Secret to Saving: Learn to Spend First! 3 Mindset Shifts to Change Your Spending Habits

Redefining “Saving”: Saving Is a Result, Not an Action

There’s no denying that the concept of “saving” is often misunderstood. Many people think saving is an action—the opposite of eating out or buying things. It seems like buying stuff means you’re not saving, and you have to physically put money in the bank and see the numbers go up for it to count. In reality, saving is a result—the outcome of your spending decisions.

When we talk about saving as a result, we’re really discussing how to convert our resources—whether it’s time, money, or skills—into something more valuable. I always say money is traded for your life. How much you treasure your life determines how much you treasure your money. Just like I mentioned in this podcast episode: buying an iPhone costs you 3 hours of your lifespan.

Saving Isn’t Just Putting Money in the Bank—Anything That Grows Your Assets Counts as Saving

The real result of saving is using money to buy things that appreciate in value—or at least hold their value—over time. Putting money in a regular savings account at the bank might be the most basic form of “saving,” because the bank’s savings account pays “interest.” In other words, you’re buying a financial product called a “savings account.”

But the real issue is: these savings accounts are incredibly inefficient workers—like the one old car in your garage that’s ancient, worn out, and guzzles gas, but since it’s the only one you have, you still have to drive it.

Luckily, Changing Cars Costs Money—Changing Your Mindset Is Free

Saving actually isn’t hard. As long as what you buy can be converted into something of higher value, it all counts as an asset. Buying and selling handbags, buying and selling stocks, buying and flipping anything—all of it can be called “buying assets.” The only difference is which has higher returns and which has lower.

Before buying anything, just take a moment to think: “Is this an asset?” That small habit change can gradually eliminate wasteful spending.

How to Develop an Efficient Saving Mindset

Edison said: “Waste is merely finding no better use for something.”

I’d like to say: “Not being able to save is just not knowing how to buy things of greater value.”

If we apply this concept to income and expense management in financial planning, then “not being able to save” simply means we haven’t learned how to spend more wisely yet. Because saving doesn’t necessarily mean directly increasing the number in your bank account—you can also increase the number of shares in your stock portfolio, the number of limited-edition cars in your garage, or the number of properties you own. All of these count as “saving.”

Invest in Value

When you buy anything, ask yourself: will this bring long-term value? For example, buying a new computer for a freelancer is an investment—it helps them work more efficiently and earn more income. That’s a perfect example of turning spending into investing.

Distinguishing Between Utilization and Waste

As I write this article, I just spent NT$80 on an iced Americano and am sitting in a freezing cold coffee shop. If I had spent NT$80 on a drink, sat down, put on headphones, and started binge-watching shows, that NT$80 might be waste (though if you want to argue I’m saving on air conditioning at home, I’ll accept that too). But my point is: the purpose of spending money isn’t just to save money—it’s to create value.

Spending NT$80 to sit here and write an article that helps you spend your own NT$80 more wisely—that gives this article value and impact. If you share this perspective on “spending wisely” with more people, then this article might just be priceless.

Further Reading

Lazy Da’s Conclusion

懶大

金融科技新創 CEO | 獨立財務顧問

Saving money shouldn’t be a headache—it should be a life skill. Pause for 3 seconds every time you spend money and categorize whether this purchase is an “investment.” Doing so not only helps you build a healthier financial situation but also ensures that every dollar you spend is working for your future.

Think before you spend. You don’t need to force yourself to save—savings will come naturally.

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