Frugal People Never Do These Things
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- čas přidán 14. 06. 2024
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Are the frugal among us on to something? Or have they gone off the cheapskate deep end? Find out as I breakdown things that frugal people allegedly never do.
Check out my video on budgeting for beginners: • Budgeting For Beginner...
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George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Exactly ! That's my major concern and what kind of profitable business or investment can someone do with the current rise in economic downturn
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Years ago I had a trick that let me shop without spending money. This was back when clothing catalogues inundated all our mailboxes. I would excitedly go through each catalogue, marking the pages of all of the items I wanted to buy. Then I would put aside the catalogue for a few days. When I looked the items over again later on, I had lost the need/desire for almost all of them. I had the thrill of shopping without any negative consequences.
I do this on Amazon, as well. Whenever I see something I like, I put it in my Cart as if I were buying it. Then I just let it sit there. I go through my Cart every few weeks and say, "Oh, yeah, I really wanted that last month, but obviously I can live without it." This way I don't deny myself, but I don't make impulse purchases that I'll regret later.
I do the same.
I did/do this too 😊
Very smart! I will do this from now on.
Is working for me, too.
Same here. I love the thrill of just looking for fun 😅if I really want it I’ll circle back but in the meantime I’m saving up for it
A frugal person once said, “There’s a lot of meat on that bone, you throw that in a pot with some vegetables, and baby you got yourself a stew”
As a woman, it drives me crazy that so many other women complain about money, yet they are out getting mani-pedis, fake eyelashes, highlights, etc.
Shoes, purses...
As a woman it drives me crazy when people are judgemental on things that are none of their business.
She hit a nerve with you? 😏@@luthiify
@luthiify whatever people spend their money on is generally not my business. But when they complain to me about their self inflicted problems, they basically made it my business. If someone does something and they don’t like how things turned out, especially when they won’t take responsibility for it, I don’t want to hear it. I’m not their therapist and being treated like one drives me crazy
Is that judgmental enough?
YES. We have one of those in the family. Hair done, manis/pedis, eyelashes, eyebrows, waxes, spa days, facial peels, designer clothes/shoes/handbags. Here I cut my own hair and clip my nails short because I garden and handwash the dishes. No judgement on her, she looks lovely. However, it seems she should not complain about her financial situation only to justify spending her money on extras like that.
I NEVER waste food! After my 60th birthday party that was catered, we ate leftover sandwiches and chicken for 12 straight days. 😅 Don't laugh, we are debt free house paid for and think nothing of going on luxury vacations.
😂😂😂😂
Parents are net worth millionaires
We were eating chicken sandwiches pizza and soda for days following Christmas lol
You come to realize that maybe there’s a reason they’ve been able to do it
Why not go on a luxury vacation? You likely have the funds and might look back on it and be really glad you did
If you're 60 have a paid for house and dont even think of luxury vacations you're doing it wrong. Yes being frugal is important especially in early stages but if you're financially set you should be starting to think about enjoying life more in your last 15-30 years. Cant take that money with you, hard to spend it too when you struggle to stand up or drive a car
I'm pretty sure the original poster meant they do go on luxury vacations all the time, i.e., think nothing of it, as in they can take vacations without thinking much about it.
Everyone, no matter your net worth, should have a budget.
A rough budget is for everyone. A zero dollar budget adds too much stress for some.
We don’t budget. We don’t need to because we never overspend.
@@dawnt5587 you can spend even less if you had a budget
Yes -- I've worked for ppl who have an effectively unlimited budget for their construction project, and they always set a budget anyway.
I had a budget when I made $20K a year and still budget at $100K+ a year now
1. Impulse shopping
2. Never waste food
3. Use credit unwisely
4. Buy brand names only
5. Neglect budgeting
6. Buy new when used works
7. Ignore energy waste
8. Ignore DIY
9. Pay for unnecessary subscriptions
10. ?
11. Mindless entertainment spending
12. Sacrifice quality for cheapness
13. Purchase trendy items
Thank you.
Thank You!
So what is number 10? Stay tuned to find out!
Thanks,I don’t do any of these.🙌🏻
Ty
Everyone was talking about Stanley cups this past Christmas, and I thought everyone just became big hockey fans all of a sudden.
😂 same
😂 same!
My daughter-in-law gave two Stanley cups to her SILs. They looked enormous for those petite young ladies
I am so glad to be an anti-conformist. Because...an adult bottle for $59? 😂
I detest this trend @@AshleySpeaks4U 😆
On point. My mother always said, "buy once buy good". This channel is one of my favorites.
I love this!
My daughter used to come to me asking if something was a good deal on Amazon. Took her a bit to learn, but she eventually learned through patient teaching how to comparison shop using pricing and reviews.
I like what your mama said, I haven't heard that one.
My daddy always said " waste not want not."
Or "buy it nice or buy it twice!"
Agree! I say go high-end on chef knives and pots/pans. Chefs go on average 10-12 years on knives with heavy, daily usage. If you handwash and dry, they will last a home cook a lifetime
Several years ago a middle-aged woman at my Church bragged her and her husband never budgeted his income. Within a few weeks she stood up in Church to give a 'testimony' that they couldn't make their house payments. A neighbor lady paid off their house mortgage. All I could think was shame shame.
Why would a neighbor pay their mortgage?
The lady who paid off their mortgage did not help them one bit by doing that for them.
@@JCTheLawnCareGuy amen.
What church is this? I .. uh… can’t pay my mortgage either 😢 😂
Made a missed payment for them or paid the whole thing off? And if it's the latter very nice thing to do but also kind of peculiar unless there's some reason behind it!
My wife and I are frugal, but we use one credit card for most of our monthly purchases and pay it off every month. We have been doing this for years and have never paid any late fees.
My son does this. Only 1 card and gets lots of money back. He makes excellent money so they travel a lot and the points really add up quickly !
We're frugal, but we use our cards deliberately and responsibly. We have several, but generally only use 3, for very specific purposes. We don't pay interest on them either. But my philosophy is if I'm already going to pay utilities or groceries, etc, I might as well get cash back at the same time. It adds 1 more step, but the cash back adds up.
I had a pretty hefty car repair, I put on my credit card, I paid it off with my emergency fund the next day. The credit card company paid me well for that.
For us it is medical bills. We nax out the HSA, stack receipts for future use as a pseudo-savings account, pay with our credit card and pay the bill off weekly. The rewards and the HSA receipts add up quickly. Annoyingly quickly.
I totally get the aversion to credit cards when you are working your way out of debt, and I swore them for of a year after I paid my last one off... But once you have a real income and savings and have your spending under control... Yeah, use your cards. Kinda dumb to leave it on the table. If you lack impulse control, then don't do it, but I think most people get into debt for serious income issues combined with large auto and health expenses that we aren't prepared for at the time. It isn't a spending problem, it's an income problem. Get the income sorted, build some assets, and take back all the interest you ever paid to those credit card bastards.
I use credit cards for everything, get the points, but pay them off every month. I NEVER carry a balance, I NEVER buy things I can't afford, and it never costs me a cent beyond what I bought. I just redeemed $25 of Amazon points from my credit card. Free money, beating them at their own game. THEY are paying ME to use their card.
remeber last year eveyone wanted yeti products and now those same people are replacing them all with Stanley? I just can't imagine chasing treds like that
And Stanley cups have terrible quality control in my experience. Bought a cup and the handle snapped within 4 months, happened with a coworker as well
I bought my yeti bottle and cups several years ago and they are still almost daily use products for me and will continue to be used for years to come. Incidentally I have a Stanley thermos that is around fifty years old that is still used. A bit battered but still good to use.
@@juanitatabe7472 - We have several (actually about 5) Yeti style cups, but couldn't tell you what brand they are, because for the most part we don't care about brands. We do have 6 Stanley thermoses (?). A 2qt for coffee, 2 1.5qt for tea, 2 1qt for electrolyte drinks, and 1 for food. All of them get regular use and will probably last a long time.
George! When you said "Hey Google order me a coloring book..." my phone heard that and started processing the order! I had to stop it immediately. Also, I wasn't aware my phone would pick up other people's voice, so I learned to turn off 'Hey Google. '
😂
😂😂😂
Happened to me too
Google wants to thank you for totally giving up your privacy and allowing them to completely map you for exploitation
Plus Google and Siri listen to conversations, even when you have told the device to shut off. They do it on the pretext of better targeting advertising. No, thanks, I will never hook up one of those devices. @@ronv6637
Using no fee, cash back credit cards to pay for things I would buy anyway, then paying them off before 30 days is definitely smart and frugal. I get a $500 check for my Costco card every year plus additional 5% off all my Amazon purchases.
But that’s not Ramsey approved lolz
Yea same, I didnt have a credit card for 4 years or so when I could have gotten one, got my credit card at 23, and now I just do the same things I always do but swapped the debit for a credit card and have it pay the full balance every month, it actually helps me budget because its easier to see spending on it then my debit card
Yes! I just saw a financial video where the presenter stated that she has a harder time spending with a credit card than with cash. I realized I’m the same way. When there’s a paper statement that I know I’ll be reviewing with my spouse every month, I am more accountable. Plus, not getting those points feels like lighting free money on fire! We have never made a late payment and have gotten thousands back on gas, groceries and other essentials.
This is because 1) some of Dave's ideas are very outdated, 2) not financially or statistically optimal (like paying down low interest debt early when investing that money instead would have a greater ROI), and 3) made for people who are already financially illiterate and just need dramatic change.
Same here. I put my health insurance, internet, alarm service, gas bill, etc on it and pay it. I gotta pay it anyway, so I just get the points 🎉 never paid interest or been late
If you struggle with impulse buys or suspect you're buying something you don't really need, I recommend putting it in the cart, walking the entire store and doing an internal debate of how much use you will actually get out of it and contemplating what else you would be able to buy for roughly the same amount if you didn't buy the impulse purchase. I find that helps to put things in perspective. I have put a LOT of things back on the shelf once I started doing this.
Same here.
I find calculating how many (after taxes) hours I would have to work to earn the money to buy the item works best. If buying that cute sweater that's on sale, means I've got to work 4 hours at a very physically demanding job, it suddenly isn't so cute anymore!
I’ve done this so many times. I’ll get bored of the item eventually
Good advice. I love Amazon, sorry to say that. But let's be honest. I'm looking for o n e certain item and find myself browsing for 100s similar. So I'm putting those " I want these items" into the cart and let a couple of days go by.
Then I will look into my virtual cart and most, maybe all stored items aren't interesting anymore or not interesting enough to buy. And they weren't necessary from the beginning. And yesterday's experience at an "offline" store, I saw very nice decorations, but my question to myself: do I like it ? Answer: yes. Do I want it? Answer: yes. Do I really need (even if it's cheap) ? Answer: no! So I set it on the shelf again and was proud of myself. Task fulfilled.😊
I order and just do driveup pickup. No impulse buying from walking the store.
I'm frugal. I don't go out to eat without a coupon, No food delivery, mainly shop clearance section, and don't have credit card debt.
Used products can also be vintage collectibles.
1. I’ve never done an impulse buy. I buy what I need or want. I research anything over $50.
2. I don’t waste food, except maybe salad stuff once every 2 months. I eat out once every 2 months.
If you buy online & go pick it up, you buy much less junk. I also make food to give me about 5 meals and freeze half.
3. I use credit every day to get the points, but always pay it off monthly. Those points ends up being over $1000./ yr.
4. I may buy a name brand ketchup, but that’s about it. Oh, and I like my Charmin ultra strong!
5. I don’t budget, I just spend what I need and if I buy things I don’t use, I return them.
6. I buy my Volvo used, but my furniture either new or antique. I’ve had things 40 years.
7. My bedroom & upstairs thermostat is set to 60. Downstairs is 67 in day, 62 at night.
8. I do DIY. Built a concrete staircase w 7 steps myself, and I’m 67. Came out perfect!
9. I share subscriptions for tv, Netflix and phone bill w my kids & split it.
10. Entertainment? I’d rather own gold coins.
11. I only head to cheapness if it’s a temporary item. My couch is nice leather sleep sofa.
12. Who cares about trendy items. They are usually stupid.
With the exception of consumables, I would say frugal people go brand name often. When a shirt from LL Bean will last you as long as 5 from Walmart, why not spend a little more to avoid spending more often.
Agree with this- my dad would always say, cheap is cheap! He'd spend the money on quality clothes and products, but those products were made to last and they did! It wasn't about the style or popular brands or keeping up with others around us. He helped my mom retire at 54 and he retired at 55, both were in education. They definitely lived frugally.
Yup buy it nice or buy it twice!
It is not only the clothing brand that implies quality, it is the material and construction. My grandmother and mother were seamstresses and I sew. When I was a young girl my mother taught me how to evalute a pricey garment. If I found a gorgeous dress, mom would turn out a seam and rub the fabric between her fingers; if she said "This feels like drapery fabric" it was the kiss of death to the dress, no matter how nice I thought it was. It drove me nuts then, and now I understand and have no problem identifying what clothing will last five or more years. 😊
A Lacoste,Ralph Lauren Polo shirts iron easier, than el cheapos, i find
Exactly! I will clearance shelf shop at the higher quality stores and get things cheap but lasting me years instead of months.
I disagree about using credit cards if you pay them off for the benefits. By charging my electric bill, fuel, food, etc... I have received back $1500+ in the cash back a year and paid ZERO in interest. Why leave money on the table!
Yep, it isn't debt if you pay it off fully each month. My travel to visit family each year is paid for with points I earned, with money I was going to spend anyway.
Yep, I just put normal expenses on the card and pay off the entire balance. Amazon points are as good as cash.
I do the same with my credit card. I pay for everything on it including groceries and my cash back from points goes directly into my savings account which comes to about $25.00 every two months. Totally free money because I never carry a balance or pay any interest.
I pay for my flights with cc points.
as long as you pay on time, you will earn instead from cash backs
I just paid off my car loan last week and received my title in the mail and I feel so ecstatic because it created more margin in my budget to work on my last debt and save. I freed up $200+ a month now! Thank god. I love meal planning and sticking to inexpensive meals that are quick to make and filling.
Now take that car payment money and stuff it in a shoebox monthly, don't leave it in a general bank fund. When you need a new car you will have the money saved. No debt
Now take that car payment money and stuff it in a shoebox monthly, don't leave it in a general bank fund. When you need a new car you will have the money saved. No debt
Now take that car payment money and stuff it in a shoebox monthly, don't leave it in a general bank fund. When you need a new car you will have the money saved. No debt
Now take that car payment money and stuff it in a shoebox monthly, don't leave it in a general bank fund. When you need a new car you will have the money saved. No debt
Now take that car payment money and stuff it in a shoebox monthly, don't leave it in a general bank fund. When you need a new car you will have the money saved. No debt
I made a grocery list and unexpectedly found a slice of chocolate cake on bakers sale for 25 cents. I gave in.
That is less than an impulse buy candy bar in the checkout line. You win!
Is it actually an impulse buy if you plan to look at the clearance rack?
Unless you’re trying to be healthy and watch that sugar consumption. I wouldn’t take a free piece of cake. Health is wealth. 😊
Keep impulse buys within reason, but always make a list
😂
Frugal people would not mic drop. That's an expensive way to make a point. 😂
Yeah, you could damage a good microphone that way, LOL.
Sometimes I get a wild impulse to spend money so I go on a spree at the dollar store. The nice one though lol
I go to the thrift store.
Great video. I'm definitely frugal -- but I absolutely agree on Charmin Extra-Strength. And Dawn dish-washing liquid. Some things save you money by spending a bit more.
Yes to Dawn, no to Charmin. Good Value Extra Soft is the way to go.
@@spragd I agree about Dawn but I prefer Great Value extra strong 😊
Definitely no to Dawn and Charmin. I buy Palmolive and H‑E‑B Extra Soft and it’s every bit as good.
I noted about taking a small bottle with some of the dish soap and add water to it for each time you wash, saves soap which is concentrated anyway and the cost is rising immensely.
Except that there is now Generic (store brand) “Dawn” which is every bit as effective. As to Charmin … not my thing … I’m male and I don’t need “soft” I need “clean” and Scotts had always provided. When a roll lasts a month or more you can afford to splurge.
I would never dumpster dive or do some of things people do on the show "Extreme Cheapskates", but I rarely pay retail. I also don't have a problem accepting freebies, shopping at a thrift store, or waiting until something goes on clearance. With this economy, I have been more selective in buying needs over wants. I splurge once or twice a year on myself (a nice candle, perfume, or wine). The main thing is I don't want to make the same mistakes I did when I was younger...too much spending on silly items, going into debt way too much, and not putting more away for the future. It was a hard lesson to learn
I would, if living on the streets. I'd eat my dog if I had to now these days . I rarely eat out always eat at home. Unless invited by friends or family. I always look at price before placing the order.
Candle, perfume and wine are silly items to me.
Dumpster diving is fun. I don't want my neighbors to see me cause then I feel obligated to share the loot.
Those people aren't frugal, they have a mental illness. And I'm not saying that to be insulting. They have a condition that's like hoarding, it's a psychological issue. And many of them on those shows are fake, they're just pretending to go to that extreme for the show.
@@petermeyer4206omg 😂😂😂
Speaking of trends, people are losing their minds over getting a $45 Stanley thermos. Sad part is that little kids are getting bullied in school for not having one🤦🏻♀️
That's messed up
In some aspects "cheap is to expensive". If you have the budget for buying quality stuff you are using all the time, you are saving in the long run.
Wonder if the Stanley thermos trend will get crushed when Dewalt or Milwaukee makes a thermos. I buy thermos from Walmart that 1) fit in my cup holders, and 2) fit the needed application. However, I own more than I use on a monthly basis so I lose frugal points I'm sure.
I just came from a post about that. It’s sad how bullied kids are for silly things.
Had the same travel mug for over 2 years 😂 I hate that our society encourages so much wasteful spending.
Something worth spending a few hundred bucks on is clear plastic bins(including the cover), for storage and moving things. Being able to see what's stored in a bin from any angle is so handy, and it makes moving super convenient. If I want to do some cleaning, I just pull out the cleaning bin and it has everything in it I need. Uh oh, missing an adapter or cable? Check the tech bin! When I moved, I threw all my stuff into bins and never had to label anything since I could see all of it. They're stackable, don't get wet, have convenient handles.. If you need to bring a bunch things somewhere on the fly, just throw it in a bin and toss it in the car! Keep a bin in the trunk filled with car things(jumper cables, tire gauge, car cleaner wipes, rain-x, emergency starter, etc).
Those clear polypropylene ones are usually junk, it is worth spending the money on proper Rubbermade containers even though they are not cheap.
Why buy stuff if you already own it?😜
Clear plastic bins. Junk Bunkers. I dejunked and got rid of the Junk Bunkers while I was at it.
Credit Cards are not the problem! It's the attitude that's the problem. Because Dave didn't / couldn't control himself, doesn't mean everyone can't control themselves.
Only buy what you need, when you need it, when you can pay for it within ~ 30 days.
And you'll always be 30 days behind using next month's money. No thanks. I haven't had a credit card in over 10 years. You don't need one.
@@andersax1 We all make choices. Live, let live.
btw: I'm not 30 days behind ... I don't have a cash flow problem like you have assumed. I could pay today, or wait until the CC payment date ... my choice.
@@tomm.8892same. We use it for stuff we already have money for, but we also earn cash back or airline points.
@@andersax1 it is true, it depends on the attitude.. i was using credit card for almost 20 years while keep in mind "this is not my additional money, i just delay the payment".. back then, it's quite convenience because you didn't have to bring cash everywhere, especially if it's a huge payment.. and sometimes they offered great promo like zero interest purchase or cashback.. but lately, since e-money and qr code payment is getting familiar, credit card is getting obsolete, so i drop my membership 2 years ago..
That's kinda the point. With interest rate in checking accounts actually being halfway decent now, having by money sit that extra mont in my account before I pay my bill is free money.
I try to never "waste food," but sometimes you just need to toss old product, even if it is painful to do so.
[Old food being food that is expired, and will probably make you sick.]
I have spent a few hours listening to Minimalists, and NPR shows. I heard this a few years ago, and the more I sit and think about it, the truer I think it is:
You only own what you can carry, everything else you are just renting.
So, you have to ask yourself: "is this something I want to carry, and use everyday?" This helps with impulse purchases.
I hear you, one Thanksgiving I had turkey and my mom packed me a good chunk to take home. The neighbor made it and no one in my family eats turkey (we're Mexican) I got food poisoning after that, guessing it was the turkey. It hurt to throw it all away...but it was for the best :(
Real ones smell it and then go “eh that’s good for one more day”
I don’t skimp on anything that comes between me and the ground: tires, mattresses, shoes. And some things between me and the elements, like a winter coat.
I retired at 55, no company pension. Just my own savings.
I'm guessing you didn't raise kids
Meal planning tip:
We are a family of 4 but my hubs sister and family often come over for dinner once or twice a week or SOMEONE comes over for dinner.
So I prep every meal for 8. I immediately set aside the servings I know we won’t eat and freeze it in individual serving sizes so on the busy days I can’t cook or other odd occasions that always come up, I can pull out how ever many servings we need for a quick meal
I discovered freezing meals last year, and it was a gamechanger. I live by myself, so most dishes I cook, even when cut in half, are too much. So I always leave an individual serving for the next night, and freeze the other single servings for weeks after. It helps you use it to its fullest potential and its like getting a new meal each time.
I'll buy enough food for a week or two and cook every meal myself. I enjoy cooking so it's not a chore. But I also try and meal prep for the week every Sunday, although that doesn't always pan out either. I do enjoy cleaning out my pantry once a month and doing a deep dive in the freezer and making meals out of what I haven't used yet. All I can say is, thank goodness for the slow cooker.
@@audrablue515
I love slow cookers and I have the instant pot that also has an air fryer lid. Life changing.
I think I mentioned I make extra food and freeze it… I try to flatten each serving in a freezer bag for easy storage AND easy thawing.
I used to do meal prepping when I worked full time but now it doesn’t fit my routine because I never have a clump of time to do it for the week
Amazon items go on a wishlist. I wait until the item is on sale.
Thanks, George. The end of this video actually activated my Siri and you almost killed my monthly budget
We retired in 2002. Our youngest graduated college. We live next to a big public library. If you volunteer at a few different places, you'll get free food, shirts,
pens, pencils, and entertainment. We were lucky enough to have health insurance included in our early retirement agreement, that is a big expense. Tina, Al's wife
I'm a curious European and our health care is so different than yours in the US. Health insurance in mandatory in one way or another. Most jobs come with health insurance and when we retire there's also health insurance included. There are two types of insurance: statutory health insurance patients and patients who pay privately for their insurance. The latter are self employed ones or people who are earn too much, earn above the income measurement of the social insurance. And people without income who get social welfare got health insurance either. Of course private or self insurenced people get the better treatment, don't have to wait as long for a medical treatment etc. I
know I don't explain it properly, but these are difficult descriptions for a non native speaker. What happens when a person who hasn't got health insurance gets sick ? I don't mean an accident. Greetings from Germany.
Just had my dryer die a couple weeks ago, turns out it was just a bad heating element. And I've learned a lot of automotive repair these past few years, the biggest job I've done was a head gasket. Normally a $2000+ job, I was able to fix it in a few days for about $300 using quality parts.
That's impressive. Seriously. Wish I could fix ANYTHING on a vehicle.
@@dking1362 Then, learn. Most anyone can do it.
Awesome! You really ARE the top dog!
Awesome! Last month, our washer stopped spinning and the dryer started squeaking. We had bought it used and went over the pros/cons of another used washer, a new one, or a repair. Our concern was the dryer because if we went with new we could not afford both. My husband searched online and ordered a $40.00 repair kit (belts and wheels) for the dryer. Then he called to ask me why I passed up the US made washer with the 10 year warranty?--it had been my first choice but was $200.00 over budget. When he added it to the cart to see the specs, it had a sale price in our budget. He ordered the new washer, and replaced the dryer parts ( it is in good shape and works like new) for the win.
@@user-mv9tt4st9k awesome! No joke, my dryer is older than I am, and I'm 26. I'm in the cellphone repair industry and I pay attention to other parts of the repair industry with appliances and cars. From what I've gathered, appliances just don't last like they used to. They have all of these great features and offer great efficiency savings, but all of those savings get eaten away by costly repairs due to their complexity, or having to replace the units because the cost of repairs set by the manufacturers through "branded" or "certified" technicians often comes close to, or exceeds the cost of a new or "refurbished" unit. I did also have to replace the lid sensor on my washer a few years back too.
Love this message! My goal for is to retire at age 50, I'm a physician but I don't spend like one, though I do focus on experiences such as eating out and traveling and saving and investing the rest. Reading "Die With Zero" by Bill Perkins really changed my perspective on focusing on splitting my life into time buckets and retiring early.
Great book! I really took a lot away from that book and recommend it all the time.
Keep doing these videos they help with mindset towards frugality ❤ I appreciate your channel 🙏
Prescription eyeglasses at an optical store are a huge rip-off. Get your prescription from an eye doctor and get glasses online. Save yourself 75%+.
Sounds great but what if they need to be adjusted on your face?
I am capable to do that myself.
Okay, I’ll just say normally all the clips added into videos are trendy and borderline annoying, but yours are always spot on and entertaining!!! 👏
Yes. They're over the top and irritating.
George, your thumbnail got me. I do watch you, but I was so excited for this one particularly because of the Stanley photo. I really wanted to hear you go off on this Stanley craze. Oh well. Maybe on SMHH
clickbait
I especially loved those words of wisdom at the end of the video about being wealth minded and how it tends to replace negligence and impulse with intentionality and discipline - thank you George 😃
As a mechanic quit buying cheap foreign made tires especially chinese and taiwan made they either get knots blow out or ate extremely loud within 5-10k miles
I recently got Pirelli tires. I understand they are now owned by the Chinese…are they still good tires?
Michelin!!!
@@MrNiceGuy500 decent ive seen some tires with names i cant even pronounce
My car is an area where I’m hopefully smart/frugal. Time is valuable, too. I purchased a new car 9 years ago and I’ve generally purchase OEM or close to the best parts for any maintenance or repairs. I spend so much less time in the shop and I’ve never calculated that I’m spending more in the long run.
As for tires, I think I’m on my 4th or 5th set at 176k miles.
which all weather tires do you recommend
I save money by going to my parents' house and eat their leftovers! 😂 I have no problem being the clean up and eating what's leftover from a couple different meals.
Someone else's leftovers are so tasty!
I bulk cook and make 3-4 entrees a week with steamed vegetables, salad, fruit, etc with the occasional dessert. There is always something to eat and just enough variety to keep from being bored. Living in the countryside, there’s no delivery food service and only two restaurants in the nearby town, so cooking/eating at home is the best choice for us.
Ha! I go to my daughter's house and eat her leftovers!
I balanced our household budget by finding a second job for my wife.
As someone who spent years buying used cars and ending up spending more money on repairs than if I had just bought A new car and kept it and maintained it myself. I don't buy a car often, Just traded my ten year old car, for A new one.
having A car that you know how its been driven and maintained from the very beginning is A game changer.
Same here I bought a new car instead of a used one-didn’t buy warranty, no gap insurance, only kept the alarm system.
It’s very hard to buy a reliable used car with low mileage. The ones that are used and one or two year old have usually high prices and high mileage. So I ended up buying a new one.
Good luck. Most new cars are planned obsolecent junk. I work in the auto industry. A 90s car will last longer than a new car.
I'd never buy a new car - losing 20% as soon as you leave the dealer. I always buy a new-used car (with, say 2-5k miles on the clock). Much better value and pretty much same as a new-new car. I tend to keep them for 5-8yrs...
This can depend on your situation. Bought a 16 year old car in 2018. Still driving it. I live close to work and this car has never not run and moved. Spoiler, it had 16k original miles when I bought it. Old lady car.
@@JohnBeeblebrox In theory that's true, but the reality is if you try to buy a new-used car within the last 3-4 years, you're paying almost as much as a new car. I compared a new car to a new-used car and the difference was $1k. Sorry but I can drive my brand new car, with warranty for like 2 years and it's still in better condition than the 'new-used' car who knows what has happened to it to cause it to be traded in. I'd rather spend an extra $1K for a car I know is 100% reliable with a new warranty.
Being frugal and being cheap are two different things, and I admittedly sway towards the latter sometimes, but I learn.
I sent this video to all my shopping friends who laugh at me for not shopping !!!!! Oh my rich family members too
Since the day I discovered thrift stores, I never looked back. Except our couch and mattress pretty much everything else in our house is used, including my clothes, except intimate clothes.
I had lentil soup this week also. Must be a popular soup. I'm getting tired of it but will definitely finish it off.
Things freeze, people.
Freeze half, nutrition calls for variety. Use different bean, cook big batch chili, freeze half, rotate. Yummy
You can freeze it for later,and it still taste the same, I make a pot of beans everyweek, and freeze it in bowls for my lunch
Freeze that left over soup in a recycled glass pickle jar and then on a day you want soup and don’t feel like making it eat it then. Leave one inch head space for expansion when freezing anything in a jar.
Merci 🙏🏿
I definitely needed to hear this George, thanks!
I’m frugal big time. Everyone of these points are very true, I do all of them just the way you said. I have to give up my time to work, I’m not wasting the money. I Dont have a credit card, I save. I batch cook to save on electric & gas, food and my time. I do food plans on what I already have in cupboards and create shopping list and only buy what I need. I will do some DIY but will hire on the things I can’t do and I do get quotes. I buy high quality items and high quality up grades to my house so all lasts. No cheap stuff that Dont last. I Dont buy brands of anything, food clothes. In fact I haven’t bought any clothes for years, I have plenty good quality clothes. I helped my friend who was in debt by advising what to do, it took 3 years, she is now debt free and a saver. The list just goes on. 😊 I’ve been like this all my life.
All these double negatives freak me out! Frugal people never complicate things for no good reason!
Also, food waste happens more in the grocery stores than at home. Especially raw meats, especially poultry. It goes bad really fast.
Normal people can't be blamed for all the waste. You can throw away a couple or rotten carrots, you are not the problem.
Eat whatever you want, order that takeaway from time to time. Life is too sad to deprive yourself of a little treat for the sake of frugality.
Laughed out loud at George remark after he reads article’s list of things don’t be cheap on. I agree, that’s a weird list but it’s a good one. 😆
Costco toilet paper is perfect. It’s just perfect. Not too thick, but it’s also very inexpensive. The perfect balance between thickness and cost.
But you have to pay the membership fee to get in the store.
@@violet18 I am pretty sure that what I save on toilet paper more than covers the Costco membership fee - and I don’t just buy toilet paper there. Actually, I have the executive membership, and I usually spend enough to get my membership fee back in rewards.
i loved your summary at the end “intentionality” i felt so seen in this video
I haven’t turned on the heat this winter because I live in Florida and by mid day, the apartment is warmed up naturally. Mornings get pretttty cold tho. 😂 Worth it.
Good for you. In winter our average temperature is 50 degrees fahrenheit/ 10 degrees Celsius when it's a mild one. But often it is damply cold. So you have to use heating to avoid mold. Now we've got 35 degrees, brrrr😢
We were a Charmin Ultra Strong family but Member's Mark Ultra Premium Bath Tissue won me over. Try it if you have a Sam's Club membership. 👍🏽
That's what we have bought for years.😊
Great episode
If you truly always pay your credit cards off immediately and are only buying things you would buy anyway, cashback is only a win
Exactly!
But they will never admit that because their multimillion dollar operation depends on convincing you otherwise. 🤷🏾♂️
I agree. But there are some people who don't manage credit well and probably shouldn't take the risk. Personally I have never not paid off my credit card every month. I also use a budget tracking app, so I can see exactly where I'm spending money.
Paying the credit cards before the statement closes adds to credit score 2 ways, 0% balances, XX% usage, then the cash back or points.
I always pay my whole credit card balance off every month on the due date. That way I am earning interest on the savings in my account for the maximum number of days and never paying interest and earning points which I use on gift vouchers, mostly for the local hardware store.
@@catrionaharvey7371 That is exactly what I do too. Money in my savings account earns about 4% at the moment, so it is better off in there than being spent throughout the month. I also pay my bills on the day they are due, and not before, so that the money stays in my account for as long as possible (often, there's a surcharge for paying them by credit card, so I don't put those charges on my card).
One of my favorite channels in the past 4 months
Yep, I'm frugal too. Never waste food. But I use a 2% cash back credit card to pay for utilities, cable, phone bill etc. Auto payoff at every statement. Never carry a balance. I profit around $300 per year doing this and it builds credit. Thanks for the video; very entertaining
I just stumbled across your channel, It's nice to see someone sharing this kind of logic and common sense.
Just picked up your book on audible. Thanks for the great content George!
Sam’s club toilet paper is just as good as charmin
I'm frugal but I tend to be influenced by the pictures on cans or boxes when I'm buying food items. It's got to look yummy 😋
I love the shop from your pantry idea. Will def try that
Am I the only one that finds that Telecaster in the back so appealing to just grab it and play it?
I consider myself fairly frugal, but there’s always room for improvement! Trying to be better about not wasting food, and shopping my freezer & pantry before ordering pizza. I have learned to put something in my online cart and just wait for a few days before hitting the Purchase button; 95% of the time I’ll end up removing it and not purchase it. Definitely buy used when I can, we have a wonderful thrift store nearby that is set up like a mini department store so they are my first place to shop if I need something.
and u can buy a decent frozen pizza for $10 or less, and add your own fresh toppings
Buying food online is usually more expensive than if you bought it in the store yourself.
You can also save money by purchasing the fixings and making those pizzas yourself. A plain cheese frozen pizza only costs a few dollars.
I loooove the ChatGPT recipe suggestion! Thank you!!
Such a comedian.... with a message! Great post.
I know this is an unpopular opinion but I am a believer in new cars. Up until a few months ago I was a believer in the drive it till it dies club. My used car ended up costing me a ton of money in repairs (that could have gone to paying off a new car), more maintenance, so much stress because it had become unreliable-even costing me days off of work, and ended up only being worth less than $1,000 on its death day. Mind you, this was a less than 10 year old Subaru. A new car provides so many things...peace of mind, warranty, reliability, worth, etc. It may seem like it costs more but overall, I think a new car is worth the cost.
Yes, and don't ever let any one tell you differently.
The 'buy a reliable used car' crowd hasn't had to purchase a vehicle in the last 4 years. They're just out of touch. You haven't been able to get a good used vehicle for a decent price in a long time. It is MUCH safer to go with a new car because the asking prices on used cars are just insane and not worth the risk at all.
That is starting to change. Dealers still want far too much for used cars and their lots are filling up as they can't sell them. They have gouged to public for several years now and seem to believe that is going to continue.
The car makers are upset, because the gouging is giving the brands a bad name - but unfortunately they cannot do anything since their franchise agreements with the dealers do not prohibit selling new vehicles for more than the MSRP plus add-ons.@@t.yop9
Buying a lot of household supplies and frozen foods at a big box store (Costco, Sam's) has been such a game changer for me. Sure, it's painful to spend extra at that moment, but bulk items like paper towels, good toilet paper, frozen fruits/vegetables, frozen chicken nuggets, go a looong way and actually end up being cheaper if I purchased all of those items frequently at Walmart/Target. Also, DoorDash and Uber Eats have been deleted from phone. Paying increased menu prices, delivery fees, AND a tip isn't really worth it to me.
We literally spent a little extra on a speed queen dryer because they're just made better and should last the rest of my life, minus normal wear and tear like the belt. We had. A fancy Samsung and it was trash, the element kept going out.
Did the same with our stove, it died, paid extra for a nicer profession series that has zero electronics in it. It should last the rest of my life
I paid zero for a dryer. Clotheslines don’t cost much and add zero to your electric bill
Love this!! Very helpful
With being a Costco guy, I’m surprised George doesn’t use the Kirkland brand TP
It is not as soft anymore, and it has gotten thinner. I am thinking of switching back to Angel Soft (Walmart). 😂😂
@@user-mv9tt4st9kwhat about “who gives a crap”, from recycled paper, or bamboo. 💙
It depends on the person and the situation where the energy use is concerned. A person who is single may very well heat only the room they use the most with a space heater, keep the water heater breaker off until 30 minutes before they take a shower, heat the bathroom up with a space heater in that same time frame, skip showers in the winter, hang dry clothes instead of using a dryer, go through the house with a rechargeable LED flash light---that works for a single person. If there's more people, you run into trouble.
The more people who live together, the less each individual should be paying for their utility bills. A person who lives alone is always going to be worse off, all other things being equal.
Hey, I just subscribed to the channel, I really appreciate your content
Very much frugal , and aplyingy all your ideas into my life
Instead of eating leftovers long past its safe date, SHARE with others, especially elderly neighbors. They’d be so grateful for one,or two, less meals to prepare.
Hahhaah I keep our thermostat at 58-60 during the winter LOL
Burr lol
4:45
Disagree. It is not debt if it is under 30 days. If someone pays off their credit card every month it isn't debt payments - current expenses.
Besides, what George is saying is to use the emergency fund - the emergency fund is for emergencies, not routine purchases.
First time on this channel and I love the practical advice that considers modern living standards. Yes, toilet paper matters. NO USED MATTRESSES or un-washable soft goods in general. I can get on board with this type of frugality within reason. We are all still consumers we just want to be better at it lol.
I once heard it said that the little choices add up to a good or bad life, not the big choices. Except on choosing whom you will marry and your education. Those are big choices that impact your life.
I don't consider myself a frugal person. I just don't spend money on frivolous things. Only people who hate their job want to retire early. If you love your job, work is fun, so why retire? I know someone who turned 80 last year. He is a multimillionaire, but he is still working because he loves his job. That is who I want to be.
Let me guess, neither you nor the 80 year old are high school science teachers 😂
@@pnwflipper2089 Ha ha. He is a college professor, as a matter of fact. I am an aspiring real estate agent.
I feel personally attacked. -someone who ate homemade lentil soup this week because it’s what I had in the pantry and didn’t want to spend more money on groceries
LOL
At least yours was homemade. My last one came from a can.
First time watching. Great content!
Now I know what’s for lunch tomorrow, thanks! That lentil soup looked delicious!
Feel kinda called out on a few of these lol. To prevent impulse buying but also scratch the shopping itch online, I bookmark the webpage of the item (not in a shopping cart) and then it just sits there cause then I forget till I sort thru and delete. The quality thing is true, I saved up money thru the year, researched, hyped myself up and finally took the plunge and bought a dutch oven. That thing will out live me, so worth it. As for temperature lol, I'm in WI in the dead of winter and I have my temp at 65. I'm lucky though cause the apartment I'm at currently is well insulated and small enough that it stays warm. My old apartment wasn't and even at 65 and all the tricks to keep the heat in, those bills were a gut punch in the early part of the year. Also, I'm all for layers, flannel sheets and feather bed.
Ha ha ha! I never thought of the random saved items on my wish list as impulse choices. We close off rooms and set the thermostat for 68. I wear a sweatshirt and wool socks if I am cold. 😂
My Amazaon “save for later” list is getting long 🤣. But I delete things off of it later when I realize that was a dumb thing to want to buy.
Love a good gluten free CZcams video.
If nobody purchased new cars, then there would be no used cars for anyone to purchase
We bought our couch on FB marketplace and it’s amazing!!!!
Curses, George Kamel, my google just tried to order 17 adult coloring books!
I've had an old school, classic green Stanley vacuum bottle for my coffee, that I make at home, for two decades. Yeah, whippersnappers, the company is over 100 years old. None of that pink crap, though.
I carried a standard Rubbermaid plastic lunchbox 27 years daily. No issues. People buying silly soft bags with zippers and clips that never lasted and $3 coffees everyday was crazy to me.
Thanks.... just ordered an adult coloring book that i never heard of till this video...
Very good info.
IMO I don't think using your credit card for the points and paying it off 100% each month is bad. Why is is not frugal? You don't have any debt, pay no interest on it but get the benefits... I only pay with CC what I could pay cash, so I use the card basically pay it off immediately.
Yes, I agree, pay it off every month and there's no problem. It's very convenient for online shopping, booking tickets, etc. You also need a credit card for PayPal. Online shopping is important for me if I need stuff that isn't available locally.
These are just good tips in general
This is my type of relaxing & entertainment.. Mindful Entertainment. 💎
Never ignore DIY: Learning to cook delicious food saves our household lots of money by avoiding eating out. You can control what and how much ingredients go into its preparation.
Great point! It seems as if most people today either never learned to cook or are too lazy to do the menu planning, shopping and food prep. Ordering in or eating out is a true budget-buster. Trips to restaurants should only be for special occasions.