A similar saying that goes givers never lack, in this case I think you misquote the saying because in reality the more you spend, the more you lose (unless you’re buying assets, in that case it shouldn’t be referred to as spending but investing because spending often refers to buying luxuries and wants). The more correct saying is the less you spend, the more you save. I think the importance of saving money cannot be overstated because in order to make the necessary investments and diversify your portfolio you need to have savings.