You're listening to TED Talks Daily, where we bring you new ideas and conversations to spark your curiosity every day.

I'm your host, Elise Hugh. Almost every time I open a social media app, I see content about budgeting or how to control everyday spending.

But in this talk, procurement expert Wolfgang Schnellbacher flips the script on money habits

and shares why, for him, everyday spending, is actually one of the most powerful and overlooked

skills we have in our toolbox. Drawing on lessons learned from elite corporate buyers and personal scenarios,

he tells us three deceptively simple rules that can turn our routine purchases into smarter,

more intentional decisions.

I've got two questions for each one of you.

Question number one, how much money did you spend in your entire life so far?

That already takes a bit to estimate, right?

And question number two, did you spend your money wisely?

If you hesitate now and are not so sure, it likely means

you're not a good buyer. Frankly, because you have not even defined for yourself what good buying

truly is. And that, sorry for the bitter truth, despite your buying things pretty much every day.

And good buying can have such a massive effect on your entire life.

And through your lifetime, you will spend a fortune, if not several fortunes,

considering we're in Dubai, spending it more life wisely,

will either make you have to spend less,

or for the same amount, make your life more luxurious, comfortable, sustainable, fun, or whatever else you want it to be.

And the good news is, there are people you can learn it from.

As a procurement leader in BCG, I work with them throughout the

world. High tech companies, auto manufacturers, American big pharma, Middle Eastern oil companies.

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