Book Review: Buy This, Not That by Sam Dogen

Sam Dogen, also known as the Financial Samurai, has built a reputation as one of the internet’s most thoughtful voices on wealth-building. In his book Buy This, Not That: How to Spend Your Way to Wealth and Freedom, Dogen offers readers a refreshingly contrarian approach to personal finance. Rather than advocating for extreme frugality or blind investing, he invites readers to make smarter spending decisions—ones that reflect long-term thinking and financial independence.

This book stands out in the crowded field of personal finance advice by focusing on decision-making. It’s less about cutting every expense and more about choosing the right ones. Dogen emphasizes the idea that every dollar spent should be aligned with your goals for freedom, wealth, and security.

Who is Sam Dogen?

Sam Dogen is the founder of Financial Samurai, a personal finance blog he started in 2009 after working for over a decade in investment banking. He holds degrees from both William & Mary and UC Berkeley’s Haas School of Business and reached financial independence in his early 30s. His writing blends real-world experience with thoughtful financial theory, and his website has been read by millions looking for actionable and intelligent money advice.

Dogen’s background in high finance sets him apart from many personal finance writers. He approaches wealth-building not just from a budgeting perspective, but with an insider’s understanding of markets, investing, and the psychological components of money.

Lessons from Buy This, Not That

One of the core ideas in Buy This, Not That is that money should be used as a tool to maximize long-term happiness—not short-term pleasure. Dogen breaks down life’s biggest spending decisions into “buy this” (strategic purchases) and “not that” (costs that often lead to regret or stagnation). Topics range from real estate and education to career moves and lifestyle inflation.

Some standout lessons include:

• Buy experiences that offer long-term value instead of constantly upgrading your lifestyle.
• Choose a career with growth potential over one that simply pays more today.
• Invest in yourself and your skills early, so your earning power increases over time.
• Prioritize financial freedom over keeping up with appearances.

He also shares strategies for navigating market volatility, explains why index investing in the S&P 500 works for most people, and outlines a path toward semi-retirement and lifestyle flexibility.

Criticisms of the Book

While Buy This, Not That has plenty of valuable insights, it’s not without its critics. Some readers find the tone overly confident or believe the advice is better suited for high-income earners. Dogen’s focus on six-figure careers, real estate investments in expensive markets, and early retirement may feel out of reach for those just starting out or struggling to make ends meet.

Additionally, while the book offers guidance on big-ticket financial decisions, it may be less useful for readers looking for detailed budgeting tips or step-by-step debt repayment strategies. Readers who want a more hands-on approach to tracking expenses or setting up a high-yield savings plan might find the book too conceptual.

Why This Book?

Despite its focus on higher-level financial decisions, Buy This, Not That is worth reading because it challenges conventional financial advice. It pushes readers to think deeply about their choices and how those choices compound over time. It’s particularly useful for those who already understand basic money principles—like budgeting, saving, and avoiding consumer debt—but want to refine their strategy and think more like an investor.

Final Thoughts

Buy This, Not That is a compelling and thought-provoking book for readers who are ready to level up their financial decision-making. It encourages readers to look beyond basic budgeting and toward optimizing their lives for freedom and wealth. While it may not be a fit for someone at the very beginning of their financial journey, those with a stable income and a desire to make smarter choices will find plenty of value here.

For anyone who wants to build lasting wealth without sacrificing quality of life, Sam Dogen’s work is a strong addition to the bookshelf. If you’re looking for books on money that make you think differently—and act accordingly—this one’s worth the read.