We live in a hectic world, and saving or spending money wisely always seems to take a backseat. We all have good intentions when it comes to saving money, but things always come up. We often tell ourselves we will start saving once we reach a certain milestone: like after a certain event, a different season, or maybe the start of a new year. In reality, though, you can only start saving money when you learn good and healthy money habits.

In this article, we are going to talk to you about these habits from Jaspreet Singh, and his advice when it comes to spending money. Jaspreet Singh is an entrepreneur and an author who speaks about investing money. Singh is also a content creator on YouTube, and he teaches people about financial literacy. Moreover, Singh provides helpful tips on how to create good money habits. Singh’s page is called the Minority Mindset.

Singh uses the Minority Mindset platform to transform the way people think about money and help create better money habits.

The Minority Mindset

The catchphrase “don’t be like the majority” is featured throughout Singh’s videos. Jaspreet Singh and a friend run the page. Their video explains the deeper meaning behind the minority mindset, but we can sum up the important parts for you. Singh explains that the minority mindset is just that–it is merely a mindset that only the minority of people have.

Singh and his friend go on further to compare majority thinking and minority thinking. The ‘majority’ are the people who constantly complain about financial problems. The minority thinkers, however, are busy finding financial solutions.

5 Things Not To Do With Money

In one video, Singh talks about the most important day of the week. It is our favorite day of the week, and if you haven’t already guessed–it is payday! Singh explains how spending habits should start as soon as you get a paycheck. The majority of Americans have less than $1,000 in their savings account. If you want to start thinking with the minority mindset, listen to these five tips.

Don’t Post Your Money On Social Media

Aside from the fact that this is just in poor taste; posting photos of a paycheck, credit cards, or a wad of money is just asking for trouble. It does not matter the amount of money you have in reality, because posting any sort of money will bring out the majority thinkers. That is, those people who want to help you spend it when you should be saving your money instead.

Singh shows this by playing out a scenario in which he posts money on social media and an old friend sees the post and suddenly wants to hangout–even though Singh hasn’t spoken to this person since elementary school.

The truth is, people want to help you to spend your money on fun things and discourage you from investing.

Don’t Lose Money Gambling

It is no secret that billions of people love gambling. It seems like the thrill about the possibility of winning is overpowering. Some people say gambling is the same as wasting your money on the movies, a concert, or even going out for the night. It is, of course, considered entertainment. However, gambling can become addicting.

The current statistics show that 80% of American adults gamble annually, and moreover, 3 out of 5 gamblers are addicts. Whether you are going to the casino or the lottery, betting your money is a waste. Singh compared the lottery to just throwing your money into the trashcan, rubbing on it, and hoping that it gives you a million dollars. You have about 1 out 175 million chance of winning the lottery. When we think about it this way, it is easy to see why betting is dangerous.

You could the spend the same amount of time and effort into nearly anything else, and probably walk away with more money. A better option, according to Singh, would be taking $200 and investing in seed companies.

Stop Spending Money On Dumb Things

What classifies as dumb things? Well, there are things you need, like food or a place to live. Then, there are things you want. This could be a nice sweater, or it could be a $600 pair of headphones. Of course, we cannot tell you what is a dumb thing to spend money on. Spending money on yourself is absolutely okay, and it is even good to treat yourself sometimes. However, you want to make sure you have the money to back up all your purchases.

Singh has a rule of five: If you can not buy five of them, you can’t afford one of them.

Don’t Be A Cliff Spender

The majority of people get their paycheck and immediately think spending. It is almost like a cycle; you might spend fast and then your hard-earned check is gone. Once it is gone, some have to wait until the next paycheck– and once they do, the cycle begins again. The progress of getting paid starts to look like a cliff.

Singh states, “If you don’t know where your money is going you can’t really do anything about it.”

Jaspreet Singh

Singh’s advice is to start an excel spreadsheet; then, put your income at the top and start to track your expenses. Try to focus on recurring purchases such as groceries, eating out, gas, internet purchases, and so on. After you get a clear image of what you spend on, you can figure out which of these are most important. You will use this list to get rid of those expenses are not essential or necessary. Doing this will help you budget.

Of course, do not beat yourself up over not sticking to your budget. Just strive for saving at least the same amount every month. It is especially useful to have a monthly budget planner to help you stick to and achieve your financial goals.

Stop Listening To The Salesperson

A salesperson works on commission–meaning they get paid when you spend your money. They try to talk you into getting the most expensive thing, and they are trained to convince you to spend and close the deal. Singh offers three simple steps:

  1. You need to know what you want and how much you want to spend. If you come in and know your budget is $200 (and that is all you can spend), then do not let the salesperson talk you into buying the $500 refrigerator.
  2. Say no; really, just say it. Don’t beat around the bush or even pretend to think about an offer.
  3. Stop financing things you can’t afford, and buy it with cash instead.

Financing is a loan that you will have to pay back with interest. If you have the cash and can afford it to spend it, than use your cash.


In general, the ‘minority mindset’ can be for anyone. You just have to want to think differently then the majority–meaning you want to think like a winner would, and think smarter when it comes to money. We hope that this money advice is helpful for you, and that finances do not have to distract you from the joy in your daily life. By doing little things like budgeting or investing, you are helping your future self more than you know.


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