10 Questions I Ask Before Spending Money (Minimalism)
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- čas přidán 11. 09. 2024
- Every purchase you make must be intentional...
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Before I spend money, I ask myself questions. In this video, I share 10 questions I ask myself before buying anything.
1. "I make $_____/hour, is this $______ item worth 1 hour of my labor?"
Time is money and the less money you make, then the quicker your money goes. It is important to view your money as the amount of labor it took to make the money. When you ask yourself this question, it'll put your labor in perspective and make it harder to justify purchases.
2. "Is anyone influencing my decision?"
Advertisements, sponsored content, and portrayed luxurious lives subconsciously influence our decisions when it comes to buying things. We sometimes buy things because someone was influencing us to buy it. It is important to be aware of why you want something and make sure it is not because someone is influencing you.
3. "Would my life be worse without spending this money?"
If we asked "Would this improve my life?" before buying something, the answer would almost always be yes. The better question is, "Would my life be worse without spending this money?" Sometimes not spending money can worsen your quality of life, so it's important to be mindful about not saving money to worsen your quality of life.
4. "What are the costs of this outside of money?"
Money isn't the only cost of buying something. When you buy something, there is also the clutter, upkeep, and stress of the item. It is important to consider these other costs and make sure you are willing to take those costs as well as the financial costs.
5. "Once I buy this, am I done spending money on it?"
Sometimes we buy things that are "money pits" that we spend a lot of money on. These can be houses, cars, or boats, and it's important to know what you're getting yourself into and be ready to continuously be paying for it.
6. "Did I come here with the intention of buying this?"
Sometimes when we are shopping, we find extra things that we quickly become interested in buying, but we did not come with the intention of buying. A lot of buying is mainly for the excitement involved in the purchase; however, if you did not come with the intention of buying it, you should wait and think through if you actually want it.
7. "In 6 months, where will this item be located in my house?"
Oftentimes, we buy things because we think they would look nice in a certain area of our house; however, months later they end up in the attic or a storage unit. It is important to ask yourself this question and not buy something that will quickly become clutter.
8. "Could I save money by spending more?"
Sometimes saving money can be counterproductive because we end up buying low quality items that quickly need to be replaced. It is important to not always go the cheap route and buy for quality that will save you money in the long term.
9. "Am I buying this for myself or for other people?"
Many things that we buy like watches, designer clothes, or luxury cars are mainly for status symbols. We spend the money to impress other people. It is important to buy things because you want them because people are not concerned with what possessions you have.
10. "Are my saving habits becoming toxic?"
Saving is important, but it is important that you have a healthy relationship with money and not develop toxic saving habits. The healthier your relationship is with money and savings, the more sustainable your habits will be.
What's one question you ask yourself before buying something?
Do I need to? Or do I want to? This question works for me!
Do I want it or do I need it. I am going to contact you on What's App
I want it or I need it?
Is it the best price for that item ? Do I really need that item is first question offcourse.
What do you think of prepping for unforseen circumstances ?
I heard that lots of people in US are preppers.
Do I really need it, and where would it live in my home.
“No shortage of crap” Truth! You don’t go to Target because you need something, you go to Target and let Target tell you what you need. 😂
lol, so true. Target is a whole experience!
A couple of months ago I started cleaning out my basement. It blew my mind of how much stuff was actually piled up down there. It was so depressing to think of the money I could of put away. Now most of the items are going to family or donations. I have completely changed everything in my life when it comes to spending money. I learned a lot and will never waste a dollar ever again. I was always a simple person my life is super basic I don’t know how all that stuff got into my house. I can’t believe I did that! This video was so meant for me to watch! I ❤️it. I love the fact that ur such a deep thinker! Ur videos r number 1! Thank u 😊 👍👌
Could of?
I guess pepple aren't spending money on an education.
@@johnclaybaugh9536 Some people use talk to text and it's not perfect.
@@TheProtocol48 keep making excuses.
@@TheProtocol48 Don't judge! Maybe he gets paid everytime he corrects someone's grammar.
I went out with friends tonight for drinks and trivia. I ate some cheap Taco Bell before i left and set a spending limit on my drinks. I spent 3 hours with buddies and less than $30. Most of them spent a ton on food AND drinks. I think i came out better on the back end. Being out for 3 hours with buddies was way cheaper than therapy and more effective than paying a shrink!!
I love the question, "Where will this be located in my house". I have enough "deal-with-later" ADHD piles around my house already.
Question 6: "you put that back on the shelf" that's exactly what I do.
Thanks Austin! I have stopped spending money on manicures and hair coloring because it's never a one time cost. You have to keep going back for maintenance! The money and TIME you have to devote to maintaining the look is just not worth it for me.
I buy my color from Sally's Beauty Supply and do it myself.
I do my own nails, and I buy press on nails.
I get color from Sally Beauty too and only do a little every few months. I got hair scissors for $40 several years ago and still cutting my own hair with them. Stopped doing nails entirely.
I have stopped colouring my hair too. 3 years in, I don't miss the maintenance or panicking because I could see my roots 😂
We are buying a new mattress this week and we finally can afford to pay extra for better quality and hopefully never have a terrible bed again, lol. This is one item I think it is worth paying more for. And shoes, so your feet don’t hurt. This year I’m not buying any dumb crap for Christmas just to put in stockings and fill in gaps. I hate impractical gifts, but tend to stress out the week before Christmas. Silly.
My husband, three sons, and daughter all have long hair so I gave them hairbands in each of their stockings. No junk Christmas.
@@thelmakatherine5396 We ended up having a great Christmas and my husband did not buy candy for the stockings! That was always his go to, but we don’t need the sugar, lol.
If you want to see "no shortage of crap", visit your local flea market. A lot of the vendors buy the contents of abandoned storage lockers and then sell the stuff as quickly and cheaply as they can, to make room for more. The stuff is displayed in big boxes and containers and piled in heaps on tarps on the ground. The fancier venders display a few items on folding tables. You can clearly see the excess shopping that people have done, and there is no shortage of the "stuff". This is also a great place to shop if you're on a tight budget. I buy beautiful name brand 100% cotton clothing for as little as 50 cents or a dollar because they're a few years out of style or need new buttons or other minor repairs. I recently bought a nice kitchen sink for $10 and a bundle of vintage oak floorboards for $5, enough to fill in a hole left in my floor when a vent was removed. This is also a great place to get perspective on how much your stuff is actually worth. Most people think that their stuff is worth way more than it is. The hot air fryer you just spent $60 on will be available at the flea market six months from now for $5.
What a wonderful note to end on, about how we're all always learning and striving for balance. I'm a lot older than you are, and I still struggle to have a healthy relationship with money (I often tend toward the "toxic saving habits" you mentioned). But what I beat myself up about most is not the financial impact of any particular purchase, but how I've gotten this far through life without having this stuff all figured out yet. So I needed to hear that it's OK to still be a work in progress, because I always will be.
Thanks man. This is just what I needed. I just got a promotion and bout to go crazy with that increase of income. People have been warning me about lifestyle inflation though I'm not really sure what that actually means. I think this video just saved my life.
Awesome! Yeah, it can get dangerous! I made a lifestyle inflation video a few videos ago too!
The question about whether something carries on costing you money . I have a pony who costs me a fortune but for me is worth every penny . It’s a good question and sometimes the answer is yes but still worth buying . It’s about what is important to you . Thank you , I love your channel . ( 64 year old woman from Derbyshire, England )
Pony are money pits
I have the same pony! The expensive one!
@@carolynstewart8465 I worked out yesterday that in the 15 years I have had said pony , she has cost me half the amount I paid for my house ! And she could live another 15 years . But I love her 😊
You don't go to Walmart to buy something. Save the money and check the clutter in the garage 1st. It's probably there.
I go to walmart for groceries and toiletries. It’s cheaper than my grocery store.
Thanks for keeping us grounded Austin. I love your videos.
Hola, Augustín! I really enjoy your videos, because they resonate with me in a positive way! The other thing I do is take a list of my needs (not wants), shop quickly, and leave! Impulse purchases make me crazy! And I do comparison shop! It's part of getting the most quality for the best price. Nuevamente, muchísimas gracias para toda!
I absolutely LOVE being frugal...but if I want to buy a $2.00 coffee at a corner quick shop (never would I buy a $5.00 coffee at Starbucks!) then I will. Of course, I'll keep the to go coffee cup to rinse out when I get home so the next time I'm out and want a $2.00 coffee it'll be a "refill" with that coffee cup and only cost me $1.25. I love your advice in this video...be frugal but don't be cheap!
be careful if its paper or plastic cup its harmful to be refilled
Or quit buying coffee. Drink water 💦
Words to live by on question 5, make sure you check that oil and get regular oil change frequently.
Exactly!
Vehicles are the biggest money pits. They constantly need maintenance. The only problem is without living on a bus line to work and everything you need to go to you have to have one. Using Uber to get around is more expensive and aggravating. Augustine, I hope that your holidays are filled with cheapness and that you find it within yourself not to splurge on gifts. Be safe.
Great video! If you watch your pennies, the dollars will watch themselves! 🤣💰
Oops, thumbs up first. BRB...... Great questions for cyber Monday. Your questions lead to my variation of your minimalism, which I call elegant minimalism, living elegantly within your means. Your right about getting value for your money, aka getting value for your time. I think it's possible living elegantly on a budget. More to follow. Best to you and all resisting cyber Monday temptations. If you do partake, spend wisely.
Gracias por otro buen video, Augustin. You're so right! Practice makes the master, & adding good questions with intentionality are sure to help along the way, plus, your humor is an added bonus. Cheers!
Thanks!
My interview tomorrow influenced my decision to dye my hair today. I need new glasses (my puppy thinks they're her chew toy). I'm taking the job to pay for them and fill my bank account. Boats are like cars and houses. Less stuff would look great in my living room. I have a designer purse that I paid $35 for. It's well made. No one pays attention to the brand because the horseshoe on it is smaller than brand new ones. I pay attention because it's made very well.
I am minimalist as well… I love the cleanliness and clear.
Don't forget to reward yourself when you reach your goals. I decided not to eat out during the week after tracking my expenditures the first quarter of the year. It has been much easier to do than I anticipated. I feel empowered now. For my reward, I found a striking piece of art for my wall in my home office. I can afford it. Yay!!!!
Great video full of good advice. You are wise beyond your years.
"4. "What are the costs of this outside of money?"
Money isn't the only cost of buying something. When you buy something, there is also the clutter, upkeep, and stress of the item. It is important to consider these other costs and make sure you are willing to take those costs as well as the financial costs. "
This one really is hitting home as of late with many of the hundred plus dollars headphone i have brought over the years starting to show wear and tear where i have to start seeing about maintenance costs such as replacing the peeling ear pads. Its like my brother inlaw was telling me that even if i buy two of something with one being a backup there is still the wear and tear of time on certain parts of the item where things like weather and room temperature can cause issues even with the item just sitting there from ear pads peeling to computer caps bursting on the motherboard. Time degrades everything.
Might settle for some wired ear buds in the future ha ha.
On buying influences. Definitely have to be careful of that even with friends who are themselves being influenced that suggest i buy so and so which ninety perscent of the time ends up being something not really of my liking and a waste of money. Last thing i should be doing is following purchasing advice from friends who may have impulse issues and lousy decision making on what makes a good product to spend money on.
Thanks Austin Williams for the great advice and help during these times of inflation and the craziness i just heard about recently of the central banks losing money which has never happened before in the good old USA.
Happy frugal holidays with many a delicious cup of coffee! ☕
i have been decluttering my garage and house the last 6 weekends and i can't believe how much i had and was not using and basically doing "without". i didn't like being home because my house was so cluttered. not being home is expensive. out of the house takes money to eat or entertain yourself shopping or going to the movies
I will definitely use some of these questions when I’m thinking of buying something. Great video and funny😂
I am quite sure your dad watches your videos 😂! That comment made me laugh out loud. I really try to stick to the one item in, one item out rule so that I don’t accumulate too much. So I always ask myself, what am I going to get rid of if I get this new item? Many times, I decide that I like what I have already. Thanks for another great video. Merci beaucoup de Montreal! ❤❤❤
New subscriber from 🇦🇺 Australia.😊 just want to say I love your videos! Can relate to them too as I’ve always valued my freedom more than owing “stuff”. If we want less, we don’t need so much money 💰 😊
I’m 37 as of March 1st, 2023 I’ve had so many struggles with my mental health and money. At about age 35 I realized not only did I as well as others earned our Income but money isn’t EVIL 👿. I felt guilty I made it home While other service members RIP our heroes that didn’t make it to there loved ones. I want to make them proud I’m reviewing and learning Yet again to make good financial decisions. I salute 🫡 🇺🇸 All those who didn’t make it.
PS. Sorry for the rant. I needed it.
This is a really good video considering the holidays are approaching and we can easily overspend.
It's true. As you get older, you start to prioritize your spending toward your health, savings, retirement, and other things that come with aging. At least I hope. I do have a healthy (or unhealthy to most) video game obsession since the the 80s, but it's just stuff and I try not to let it get to me. I have cut down on spending tremendously the last bits of the 2010s and now have a fairly decent nest egg. It's good to set goals of where you want to be, or do in X amount of years. Helps keep you in track and avoid the "now" spending instead of thinking about the future you.
Another great informative video Chico guapo
It all comes down to, do I want it or do I need it? 90% of shopping influence is made out of want, not need. That’s why we accumulate so much crap then have yard sales or charity donations
Saludos 👌🏻😀
I’m thinking of purchasing the aero press coffee maker. It’s about 35 bucks on Amazon, but, it can make coffee a lot of different ways.
I had no regrets buying it tbh - in my case it was cause at my work nobody else drink coffee and there is no furnace for moka pot at the kitchen, the alternative was a french press but aeropress is way faster , also its very easy to clean and can be use outside easy ..get the metal filter if you go for one, the paper ones are kind of pointless, although new one comes with a free bunch.
Tuff things are usually long term and pays off.
Thank you so much for your videos Agustin!! You are so wise and such great help when it comes to saving money and life itself. You are awesome!!
I’m from Peru you speak good Spanish!! Thank you!!!
Austin, you have a lot of wisdom for someone your age. Keep up the good work!
When you said Uber Eats twice a week. I thought, "Never Agustin"!
Never! Don't even know how to use it!
@@ElAgustin Neither do I.
Neither do I.
There is no shortage of crap in this world.!😂
Want versus need and the wisdom to know the difference.
this is one of your better videos. (I watch most of them.)
Thanks!
My first point of call is gumtree second hand site for most needs. I got a great barely used leather couch or a fraction of the retaIl price.The op shops have great clothes … and recycling also helps the planet. Your tips are spot on….but I do lash out on my pets..they bring me so much joy….🐶🐹.
“Save money, but don’t go crazy now!” Haha. 🧡 🐪
You are hilarious! Great video-thanks! xx
Thanks for watching!
How much money I will lose by not having this amount working for me at the bank?
This was another awesome video with tips for a healthy financial life.I Just Love It!!!
Thank you 👍
Well I have to try again this month to get it going 😂 Im now debating if i should cash it out in bills so i can see it in my hands every new month growing or send it to my hardworking brothers account who will keep it for me in check 😂
It is not my idea,but it's a game changer for people who love eating out like I do. Check how to prepare your favourite meals and learn it. Try it. It is so simple and much much cheaper.
Rule number 8 gets me...when you buy cheap you buy twice.
Sometimes its part with money in order to make money. That's we're I am. I want some independent income even if I am still working. If I am going to do it, I am going to have to invest some money to learn skills, buy tools etc in order to be competent. Im in that lifes good enough but it can be a lot better with the risk taking of making it worse.
👏👏👏
"This is gonna look good in my living room"! that's exactly what I said!😁
lol, don't we all. In response to a previous comment, there are many bots that come on my channel that impersonate me. I do my best to remove them, but there is little I can do because I can ban them, but they keep making new accounts.
@@ElAgustin I realized it wasn't you because of his basic English mistakes and I know you are an English teacher :)
I also ask myself this: can i resell the item when i get fed up with it or dispose of it ecologically? If the answer is no, then i dont buy. That is why i buy Ik*a furniture almost eclusively. New or used, it has great resale value ;).
I always ask myself if this is a need or want
Appreciate the more frequent videos. Love the honesty. Hello from Canada
Thanks! Just trying to make you proud, Derrick! Thanks for watching!
Hi Austin! I ask, "how much bologna, bread and rice could I have for what I'm about to spend on this BS?" LMAO. Trust me, this WORKS!
That’s why i’m not sold on the idea of getting a big house. Of course if you have kids or are already rich, maybe it’s a nice thing to have. But otherwise the rates, taxes, maintenance are so much that i think it’s better just to have a small place and then invest elsewhere. In my state of Australia, the taxes (stamp duty) when you sell are almost 6%! Add on the commission and marketing fees from the real estate agent, and that’s thousands more. We just had an election and yet this wasn’t even an issue
"No shortage of crap" I love it 🤪🤪🤪
A....don't forget to get your list together for the new year. Resolutions or Not..
The youtube channel Finding Value Finance comes close on how to become a millionair.
Thanks brother❤
Buy new car, do Doordash $30 day target, $900 month, pay car note $400, insurance $150. Possible in America
Agree with you 99% of the time. Excellent advice. I have to ask, how many t-shirts you have brother? 😀👍
I bet your mom must be very proud of you.
While video is good. But last couple of minutes are excellent. That you try to find a balance but you never find it. So I would say you work around it. Truth lies somewhere there.
Also I have been thinking and practices just like you're. I am in this journey for six years. Jesus Christ has changed me tremendously including in the areas that you're talking about.
This should be taught at schools👍
great
Excellent
$7000 WAS SILLY DECISION TO SPEND "JUST TO FIX A CAR"... UNLESS HE'S DRIVING BMW/MERCEDES WHICH I THINK HE OWNES
Where was this video 25 years ago when I got married? My wife needed, and still needs to learn from it. THANK YOU VERY MUCH!!
I LOVE IT!
Thanks for watching!
@@ElAgustin I showed the video to my children and wife and made them write down the 10 questions. My wife refused to write them down. If my wife can't or doesn't want to change, hopefully my children don't grow up with bad habits of this consuming / materialist society
@@ElAgustin Me encanta tu español ( I love your Spanish). 😅😆😂
Awesome video!
Thanks!
So nice. In the beginning of 2022, I also spent a lot of money on unnecessary things. When I watched your videos and other videos regarding minimalism influenced me. Now I am also following this way of life. Thanks.... Can you check your mail please...
8 dollars is big enough here in asia. 🙂
Awesome 👌
🙌
Paradoxically it takes years of working hard at a job to make any substantial amount of passive income though the stock market. It's not a get rich quick sceme. And alot of people would make alot more money if they just got a second part time job and worked a couple shifts a week rather than some stupid side hustle online thing where they make 100 dollars a month.
And Renting out houses is risky and is not passive income at all. On certain days you will have enough phone calls to make your head spin with responsibilities for all the rentals. 🤯
change the fluids evey 3000 to 3500 miles and it will last forever
Hola Agustin! Vivo en Punta Cana, en la República Dominicana. Enseño inglés a adultos y jóvenes. Si te interesa venir a visitarnos, solo dime y te esperamos por aquí. He aprendido mucho contigo. Un placer!
I don't know if you're being robbed or just scammed but never in other country you would being paying that much to replace the engine of your car, I replaced mine a year ago and we didn't pay more than 1500€
Smaller engines in Europe, prob due to fuel prices, and they will need replaced more often
I am eating $1 large fries at McDonald’s, $1 large coke 2 people refill drink
🤩🤩
I don't even understand that this is an issue.. :o
I love to spend money but you better believe it won’t interfere with my ( kiss my ass money) ! Kiss my ass money is set in place! 🦅🦅🦅 stay free! And merry Christmas my money friends!
We are all thousandnaires aren't we ?
Hundy Thousandaire, thanks!
I guess there is a reason that I don't have a girlfriend, lol
$7k is cheaper than a new car.
Yeah, and hopefully it runs for a while!
If the rest of the world were blind, would I still buy this?
I clicked unsubscribe immediately when I heard "Uber eat twice a week". Be careful :)
Abd then he said he was joking.
Also, even if he were spending money on uver eats, it's his money. I could be judgemental about people spending money on cars. But I usually won't.
I bought a new suit this year. It wasn't particularly cheap. But I'll probably be buried in it. Hopefully that won't be soon, lol.
@@johnclaybaugh9536 i bought a new suit 2 years ago and it’s my jury trial suit. I had a bday gift card and also bday cash to use on the new polka dot dress suit. I’m a lawyer and have yet to wear it for a jury trial…we always end up settling!!
You should have bought a Toyota in the first place, then you wouldn't need a new engine.
I had a Toyota and I needed a new engine.