21 Things You Should Never Waste Your Money On
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- čas přidán 28. 05. 2024
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Timecodes:
0:00 - Intro
0:08 - Unused Gym Membership
0:37 - High Expense Ratios
1:26 - Fast Fashion
2:05 - Late Fees
2:28 - Bank Account Fee
3:06 - Try SoFi
3:25 - Lottery Tickets
4:12 - Extended Warranties
4:54 - Buying Coffee Every Day
5:24 - Buying Lunch Every Day
6:07 - Too Much Food
6:47 - Bottled Water
7:06 - Underused Subscription
7:46 - Physical Magazine & Newspaper
8:04 - Cable
8:25 - Expedited Shipping
8:52 - ATM Fees
9:23 - Foreign Transaction Fee
10:02 - Hotels
10:22 - Airline Fee
10:44 - Private Mortgage Insurance
11:11 - Tax Deductions & Credits You’re Missing Out On
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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.
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You can get extended warranty for free by buying with your credit card.
I love SoFi. Used to work for them. Great product and use them to this very day!
Surprised you don't promote Wealthfront (5% APY). They have an affiliate program as well.
@@een-n-out i also use sofi, i dont usually vouch for promos but its currently one of the smartest banks to have if you have the goal of spending intelligently.
The way Tae started straight away with the points was refreshing
He value our time by doing it this way i think
YESS!
Every single content creator should make their videos like this and put their bla bla bla at the very end
I liked your comment because it was on 999 likes and I wanted to push it to 1k 😅
@@4140ajj thank you😂
1. Unused Gym Membership
2. High Expense Ratio
3. Fast Fashion
4. Late Fees
5. Bank Account Fee
6. Lottery Tickets
7. Extended Warranty
8. Everyday Coffee
9. Buying Lunch Everyday (expect social)
10. Buy Essential Groceries
11. Bottle of Water
12. Underused Subscription
13. Physical magazines and newspapers
14. Cable (TV)
15. Shipping
16. ATM Fees
17. Foreign Bank Fees
18. Airline Fees
19. Private mortgage insurance
20. Tax deduction/subsidies, ect.
21. Hotels
Thanks
Add this to the list: do spend money on little luxuries once u can comfortably spend on these to avoid a burn out, do spend money on self care, good outings etc. to recharge yourself if you can help it.
Thank you for this list.❤
1. ALWAYS buy quality.
2. NEVER buy quality at full price.
only a sith deals in absolutes
My tagline is : Guess how much i bought it for!!!
Words to live by 🎉 get comfortable with second hand. It's great giving something a second home and even greater keeping all that extra cash by doing it
@@robynp7536 i think it's not necessary about second-hand. sometimes they do clearance sale or year end sale.. i got my Bally wallet at half price and it lasted for 10 years until i finally got bored and donated it a few years ago. i guess it is still sitting strong at someone else' house.
@@robynp7536that's cool.
My friend bought a car second hand.
60k car. For less than 30k. Vetted by a mechanic.
Great deal, right?
Had issues after less than 6 months.
Bought it just under 2 years ago.
Has invested 12k more into it in repairs.
Which means it's resale value has further dropped, it's still not under manufacturers warranty, and it's become a liability.
SOME things can be purchased second hand. Second hand can sometimes become a primary issue if there's no longer any security behind that option.
Unless you're actually getting ahead or guaranteed to save money, sometimes buying something new is a better long term investment.
Excellent advice. I’m a 73 year old comfortably retired old guy. I am comfortably retired because I was raised by good parents that grew up poor during the Great Depression. They taught me one simple rule about money. “If you don’t have the money to pay for it, you can’t afford it.” It’s a very simple rule that works. And will always work.
Sir if you lived through the depression you’d be at least in your nineties
@@Coldass I believe you misread my post. I was raised by parents that grew up in the depression.
@@danbgt forgive me, as you may have guessed I come from public education.
Even better: “if you don’t have the money to buy it twice, you can’t afford it.”
@@Coldass you don't read well. He said his parents grew up in the depression. I am also 73 and my parents did too.
The "Charge it" movement made people poor. I retired at 54 and have been totally debt free ever since.
Reading books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!
Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!
It's crazy how by living in a 3rd world country, I actually follow every single recommendation on this video by default. Yet, I'm still poor XD
Lol me too
gotta watch your spending
Best kind of content on youtube: Straight to the point, fast, no bs. Your videos are amazing.
I love how you mention to stop buying stuff like coffee everyday and instead buy a machine or beans for home/personal use instead of saying to stop buying coffee and instead invest it in stocks or funds instead. Kudos! Because from where I live Financial Advisors tend to guilt trip people in that way. I love the 21 things you mentioned and I'm glad to be not guilty of at least any of those mentioned.
A few years ago I bought an espresso machine on Prime day. I still use it almost every day to make Americanos. It's so good. Almost everywhere I go now and buy an Americano it tastes burnt or over extracted.
@@jdtreharne me jealous of you! I'm still researching on what coffee maker I should get lol. But for reference I use a good manual grinder and a moka pot at home. I rarely buy coffee outside now except for the place where I buy the beans also, they're a local coffee shop so I don't have any regrets.
Sometimes having a cup of coffee is what you do with your colleagues at work. I think the social networking from that is well worth the money. On the contrary, it might even seem kinda anti-social to not do it.
@@aislt8786 And when you can't drink caffeine because it makes you all hiper and sweaty?
@@mrlightwriterget a nalgene full of water, and if whoever your colleagues are happen to be bothered by that, get a different career
Thanks for not wasting time on an introduction, much appreciated
About fees: Once you get the mindset that sometimes fees are cheaper than the time you waste on trying to avoid them, you'll realize it makes a lot of sense to pay the fee and save your time. In other words, never be on the hunt to avoid fees always. Weigh whether the convenience that comes from paying the fee saves you your more valuable time and money in other ways. For example, the next ATM of your bank might be 10 miles out, but consider whether the fee you pay at the third party ATM right in front of you is less than the fuel cost and time wasted in driving 10 miles to the other ATM and back.
This, thing about fee is that you can use that as an advantage and pay to buy more times is reasonable.
The trade-off might be worth it in a pinch, but I think what he's getting at is to, for example, stop by the ATM in advance to take out enough cash to last you a while, so you're not forced to choose the lesser of two evils later on.
Essentially, just learn to plan a little bit. It's not that hard!
@@egarcia1360Problem is, how do you know the store doesn’t accept cards in this day and age? Carrying cash just in case, especially large amounts, is a liability due to potential theft or loss.
@@GRBtutorials The whole point is that you don't necessarily know whether you're going to end up somewhere that doesn't take cards (or charges an additional fee, or happens to have a malfunctioning reader or a power outage), so it's good to have a bit of cash to get you by. There is some risk, but it's generally pretty low, unless you live in a really dangerous area or have a habit of losing things, I guess. That said, I wouldn't recommend carrying large amounts, but at least enough to hold you over for a day, because you never know.
My toxic trait is thinking I can buy a $2000 espresso machine because I don’t spend $5 a day going to buy coffee
I have been following the less is more strategy and am very content. I retired a few years ago, my wife and I are debt-free. I'm in fantastic shape from focusing on my exercise and healthy diet. Living simply and honorably is very fulfilling. I walk about 25-plus miles a week at the local nature preserve, it's FREE. I know many who are drowning in debt and not saving for retirement. Make every dollar count, don't nickel and dime your money away. I sleep well every night and don't stress. Don't give up, get started on your journey to peace. It's worth it.
Well done!!
@@djgonpet Thank you.
I am still young (26) but recently I have been concerned about retirement. Do you think it is possible to live confortably from savings?
We all own cellphones that contain a calendar - use it! Use your calendar to remind you when bills or payments are due and when free trial periods expire.
The calendar function usually has two reminder alarm options, strategic use as to when to set these alarms makes you think about when you’d like to be reminded, AND whether or not you actually need this particular product.
I know when my bills are due simply because I don’t want to miss any late payments. If I set reminders then I end up paying them early anyway
Then there's just the old fashioned way, send off the payment as soon as the bill comes.
the way he jumped straight to the point at the first few seconds
One thing that really improved my wallet is I moved from Hong Kong to Zurich, I started having drinks at home with friends instead of going out to bars and restaurants. It's saved me a lot of money. It's a small change, but it makes a big difference in how much I spend:) Great video!
I like the fact that you got right to the point and didn’t waste my time-great job! Also, good info.
Bought a chamber vacuum sealer this year for food leftovers. Paid for itself very quickly. Didn't realize how much food we were wasting. So easy to thaw out package and heat up for lunch/dinner at later date.
Vous pouvez mètre dans le pot en verre tourner vers le bas que l air ne RENTRE PAS SA CONSERVE TRÈS LONGTEMPS
Many wealthy individuals maintain their wealth by adopting frugal spending habits similar to those of the less affluent. They also prioritize continuous investment, whereas some poorer individuals tend to spend extravagantly without focusing on long-term investments, often attempting to impress those who are already wealthy.
Good comment.
All great points. Thanks for sharing! Except: Printed magazines. I like long form journalism (and books) and I hate reading on digital devices (too much distractions, strains the eyes). Also 1 or 2 magazines lying around the house remind me to pick them up and can also be a great conversation starter with friends over. Also, for me at least, going to the shop buying a physical item is more friction and makes the expense more deliberate. With everything being a digital transaction, it is just too easy to spend money on magazines you end up not reading. Probably, a personal preference 🙂
I love and adore the NYT BOOK REVIEW, print version. Just renewed my subscription for close to $300.
@@rubyparchment5523
Is that the New York Review of Books?
If so, it’s unrelated to the NYTimes. But it’s an amazing read; so much depth, so eclectic.
I agree
I also kinda disagree with the video on this point. If you enjoy buying and reading printed material it’s not a waste of money. Except for people for whom it doesn’t make a difference. Same goes for the coffee. If the the walk to the coffeeshop and being there adds something positively to your daily routine it’s also not a waste of money imo. Unless you hate going there and simply need to get a cup of coffee cause you are too lazy to get a machine yourself. Cost/ benefit ratio.
Yeah I'm old fashioned I love real books and magazines
Agreed on the gym memberships, coffee, and lunch. I workout at home and if I want to take a class at a studio, I’ll pay for a drop in visit. Thanks for sharing.
I avoid wasting money on hotels by not traveling
😂
😂
Hey me too! 😂
Our family uses the gym 144hrs per month so at $98 per month at $0.69 cents per hour it is a reasonable health investment for our family. The family Christmas gift was a latte maker last year. Totally worth it.
I pay 10 euros per month and I can use the city swimming pool every single day of the week.
This is a masterclass in video engineering, videography, stats maxing in youtube and such a well tought content, i feel good to be watching this. thx truly
So many good points! I carried my lunch almost every day for 47 years. I ate out more with my wife in the ten years she was retired than the thirty years prior to her retirement. I never have bought coffee out. I have lived your list most of my live without even realizing it! cool
Think about it, if you have an unused gym membership, the advice shouldn't be to cancel it to save money - instead they should be advised to get motivated and get into the gym.
Love this! ONCE IN A WHILE, I have late fees on bills, but not usually and I do need to start bringing my lunch to work. Hadn't thought of that. The rest-I'm set.
I "meal prep" eating out every day. I have very strict rules on what/where I eat but have managed to get a high-protein menu that is cheaper than anything I could get via groceries.
Also, I could see PMI being acceptable if you are getting a rental property like a duplex or quadplex and renting out the other units. It's way harder to save 20% of a $1 million dollar property and as long as you have the numbers down and have a net positive ROI it could allow people to get into real estate who would never have otherwise.
Great video Tae, as always. One comment about lottery ticket. Although you are correct about wasting money on lottery ticket, where odds of winning is low, and my retired dad typically buys $1 each week. Not that he needs the money (and he said he would give them all away if he hit it =), but he say that he's buying $1 worth of hope. It gives him something to look forward to. Entertainment money well spent by my standards...
I buy lottery tickets very occasionally. It takes $2 now to be able to win the big jackpot. I buy one $2 ticket if I should happen to learn that the jackpot is in the stratosphere. (I do not follow the lottery jackpots.) I figure that I can afford to waste $2 every now and then, and if I *should* happen to win, the event would be life-altering in an even more significant way. It's not like I'm spending $100 a week, thinking that someday I'll win big.
Have you won yet?
@@bpo6955 Yes, it gave my father purpose of looking forward to the next day (that's worth at least a buck or two right?). In terms of actually hitting the jackpot, sadly, no...
When Powerball jackpots exceed 584.4 million you’re actually +ev (expected value - meaning what you can win based on what you put in exceeds the odds of winning) and should buy a ticket…poker has taught me that about pot odds and expected ev. 😃
@@ThomasWJames Yes, expect that you'd have first to allow for the fact that there can be other winners who will share the jackpot. I almost screwed up by saying that you'd have to allow for taxes, but since you're going to win, you can deduct the cost of the tickets. I sometimes wonder why Bill Gates or Warren Buffett do not buy a ticket for every combination of numbers, guaranteeing their win.
Thanks for starting this informative video straight to the point without wasting time with long-winded preambles. Much appreciate it. 👍
PMI is required on a conventional loan when financing less than 80% of the bank appraisal. The (PMI) insurance is proportionate of the down payemnt so one putting down 15% will have a small PMI policy, as you are only insuring the 5% .
I'm glad I found this video. I stopped paying for bills and taxes, and I've never been happier
Excellent points - very thankful none of it applied to me, but worth watching to see if there was something I could revise. I'll definitely be taking a look at some of your other videos.
Straight to the point, no bs, actual useful tips!
Subscribed
Tae - Please prepare a detailed video on the travel hack point mentioned in this video , as that tends to be confusing - will be very helpful
Extended warranty depends on the product/usage of the product(s).
I paid an extended warranty, it covered tyres, neon lights, which amounted to over $1000.00.
I didn't buy an extended warranty on my LG appliances. They are a year out of warranty and have problems
22. Kids - just don't have them, instant money saver!
amen
You're my newest discovery on YT and I'm loving it. Turning 40 in about a month and feeling younger than ever.
Straight to the Point and no BS. Very good Content and Informative. I subscribed to the Channel.
Thanks, good thing I am on track with being smart about avoiding bad expenses! Keep up the good work Tae.
Failing to plan is planning to fail. Thanks for the great content Sir! I really enjoy your calm tone and straightforward delivery in your videos. It's not like the over-the-top click bait that some other financial content creators make.
The information he offers is nothing new, but he seems so nice I keep listening... ❤
Thank you, Tae. I like how direct you are and that you give a lot of advice in this video, and that you are clear and easy to follow. I like how you quickly demonstrated that the cost-savings examples (like the one for coffee, which I started doing 4 months ago). I have subscribed and plan to keep watching.
As always, great vid! Thank you.
About coffee out. If you’re drinking flavored Starbucks coffee you don’t need something fancy to replace it. You could literally throw milk, quality freeze dried espresso chips, and the flavoring (or my favorite a square of chocolate/or truffle) into a tabletop milk frother and that’ll be good enough for flavored lattes. Depending on the quality of the chocolate it comes out to around $0.60-$1 per latte excluding frother cost
Great video, helped me realize even more how many things I’m not wasting money on.
My "solution" to this is my budget. Every expense is tracked, so any recurrent fees that are not on the budget get "found out" and the axe immediately. I actually dropped spotify since they wouldnt hold my wifes student membership discount anymore. So we went to pandora. They did the same about a year later. So we dropped that. I actually dont really mind the commercials anymore heh.
you got RIGHT into as soon as video started. Thank you
Great vid Tae, but the PMI advice needs more nuance. It's a helpful thing to consider, but we paid $100/mo on it and have owned a home for years already that locked in
Thank you! Was also going to point this out. I would not have been able to save 20% for a house with rent prices being what they are (often more per month than a mortgage). I got a 5% down conventional loan with a $15k grant and pay close to $100/month PMI. My plan is to wipe that in a few years with a refi.
Trying to save $40k for a 20% down payment on my $200k house would take me easily another ten years of renting at least, if I could save the money up at all. And by that point cost of housing will probably be quite a bit more and I would not be able to afford as much house anyway.
You take small losses early to get bigger gains later.
@@jonathandurden3105you probably wont want to refi with interest rates being so high.
Things I NEVER waste my money on:
1) personal growth coaching
2) financial coaching
3) psychoanalytic counseling
4) credit bills payments
5) online influencer donating
6) online music
7) online movies
8) software
Tae, thank you for making a great, informative video!
I wanted to add another expense to this list you can easily avoid.
If you own a car, you know you have to purchase new license plate tags each year. At my tag office in Georgia, if you pay for these tags using a credit card, they add a "convenience/card" fee on top of your tag that can cost up to $5.00. However, you can avoid this additional fee if you pay with cash.
I don't know if the same is true for all tag offices across states and counties in the U.S., but it pays to have some cash on you whenever you purchase your new tags!
The tax deductions part can be problematical. The Tax Cuts and Jobs Act increased the size of the Standard Deduction, and now only about 10% of filers itemize deductions. If you can get tax *credits,* great, but you have to itemize deductions to claim a tax *deduction.*
There are a few that still fall outside itemizing such as HSA and Student Loan Interest.
Great tips! Some of these, I have been familiar with; however, you did touch base on subjects that I was not aware of till now. Thank you for the advice! I found very good value from this informative video; therefore, became a subscriber. 👍
That was great, thanks! Most of them i already do, or try to. But it's nice to know I'm not the only one, plus the ones i didn't know! As an Australian living in Europe, this still applies!
I live up to "don't spend the money you don't have", and I've applied the advices in this vid as well, I've gone through very dark times but I managed to survive with little money because of those strategies.
Enjoying your video and thanks for sharing your wisdom bc many of the topics you cover are the things i spend much of my time thinking about many times.
Oh and we kind of look alike and I believe by your last name that you’re Korean, I’m kot Korean, and Chinese, but have been mistaken for being Korean often.
Excellent video.The only part I disagree with is extended wareanties. There are countless examples of people having major vehicle malfuctions just a couple thousand miles past manufacturer powertrain warranties. If you dont keep the same care past warranty, or trust your mechanic or your own wrenching skills I can see why you would take the risk, but legitimate extended warranties on post covid vehicles could be an investment that saves you time and money.
Thanks so much! Your video is an eye opener for me!
The ATMs in certain countries such as Thailand charge your a fixed ATM fee for every withdrawal. Can't avoid that. Besides, noting is free in this world. You may think something is free of charge but, in fact, it's already included in the price.
Wasn’t anticipating the gym being #1. I’ve had a gym membership for a few years now and probably should’ve cancelled a while ago. I see people walking around my neighborhood all the time. It’s a great & fresh way to get cardio in. Thank you for the tips. ✨
Keep in mind, everyone has different needs attention to specific health goals and a gym may be the solution. Commitment is key 😊
All of these tips are for people who maybe are 15 years old.
If you don't know how to make real money by age 35 latest, you will have a hard ride i-n life.
It involves throwing out 99.9% of the bullsh*t standard teaching into dust.
- go into debt
- do it hard
- don't listen to mediocre people advice, they will stay forever poor and have no clue
There are some things that you just cannot get by walking around. For example going for yoga class. And if all your friends do it too it might seem kinda anti-social to not do it especially since it gets more difficult to maintain your friendships as you get older. Unfortunately, social activities do cost money, it is not practical to scrimp and save on every single thing.
stupid mindset
Heard about your channel in Kiplinger's magazine. Thank you for mentioning the environmental impact of being financially wasteful too!
Great tips! You are more likely to die from constipation or get hit by lightning then actually winning the lottery. At work, everyone pulls every week to buy lottery tickets and I never bought in, but acknowledge I'll be the only one to show up to work if they won.
I just ended a job selling lottery tickets, and the amounts spent on scratchers and draw tickets was astounding .
Actually worked with a group of people who won mega millions…😢
You are also more likely to die by choking on an olive pip than winning the lottery 😮
I agree with buying coffee a day. My husband and I love latte after looking our expenses in our coffee we decided to buy Gaggia coffee machine it's expense but in the long run it is worth it and financially feasible.
More great advice, Tae...and we have the same Rogue rack!👍
a big thank you for the advice...fortunately, i already do almost all these things, but i see coworkers and others that don't do these things and they ALL struggle financially. ps..people around me find me weird for having stopped buying lottery tickets, so it was nice to hear that it was one of your recommendations...:) thank you and take care...lol
I don't waste money on newspapers and magazines, I enjoy every second of it
Very informative, thanks for the video!
Good suggestions and well spoken. Thank you.
*Tae Kim deserves all attention. Making money is action and growing money is knowIedge, do this.*
Failure to take good actions on your finance, lncome will remain stable while expenditures rise. The rich acquire fortune cause they seek the heIp of finance-pro(s) to achieve their goaIs.
My man got my follow within 5 seconds of the first video I’ve ever seen from him. Big ups to you, sir. Thank you for the quality content.
Thank you for another GREAT video!
Bank Acct fee - with mine I get a discount based on deposits, I get cell and laptop insurance, I get travel insurance, and I get motor breakdown cover.
i share my son's gym membership at Blink and he pay's student discount of 10 bucks per month. The catch is $50 yearly fee but still worth it.
Thanks for this video, though all these points were already familiar, I find it very useful for those who don't know about these things
One thing on extended warranties: with Apple care specifically: It’s an incredible deal for tech nerds who hate phone cases and drop their phone often.
I always have the latest iPhone, drop it about 15x a week and need to get the screen replaced at least twice a year. Apple care gives me a screen or back replacement for under $50
It’s great
I agree with everything except #13 I can’t stand digital reading and love a good physical book or magazine. Also I keep my most magazines for years (nature photos) and can pass them around to other people who enjoy them as well
Extended warranty depends. I had an extended warranty for my treadmill. 289 for 5 years. It saved me 2500 on repairs. It was worth it.
You could have saved more by not buying a treadmill and just walked. And if the weather is bad, do jumping jacks.
The company runs the numbers and calculates the expected value of them giving the average buyer a warranty. They will calculate the damages along with the chance of incurring them for each sale, and will price the warranty at some number higher than the expected repair/replacement fees. Don’t play zero sum games with insurance companies
@@Ivan.80p true. I do walk in the park but life is box of chocolates.
Large jackpots I can see not pursuing but daily lottery tickets have actually worked in my favor and helped me to reduce most of my debt. I created a chart and noticed that the numbers run in a certain pattern. I average a minimum of four to ten times per month. On a winning number I win $500 for every dollar spent and anything under $599 does not have to be reported to the IRS.
But each ticket is -EV, therefore you will lose money in the long run.
Hey great video. How do I assess what is fast fashion or not? I'm not that good with judgin quality of clothing. Usually electronics have specs and reviews and benchmarks etc. How do I buy quality clothes that look nice and crisp, and stay that way?
Buy expensive stuff from reputable brands and retailers. That's the only way. You don't need that many clothes anyway, so spend well on what you do buy.
Subscribed! Straight to the point information.
I like that your advices is not only how to save money, but also how to save environment
In Canada, PMI is called SCHL and require you to have 5% down payment as a minimum. It is a one time fee at the purchase of the house. In my experience, you are better getting it and start paying you back earlier than later. It is like compound interest. After 4 years, I sold back my property at a 10 000$ lost, however I already paid myself back by 45 000$.
Exactly he made a point that lacked all nuance.
I wasted gym membership for years before finally canceled it. Now I pay $28 a month to lap swim 5 days a week 50 minutes per session. I go even when I don’t feel like going. Always feels good afterwards.
When I worked FT, I dizygotic out to lunch nor buy coffee. I cooked at home and packed brunch, dinner, and drinks to work.
I haven’t had cable for decades.
Thanks a lot for the insightful tips
Thanks for the tips ❤
Just discovered you today, you’re awesome, thanks for all the tips!
Thanks for the content.
My uncle was very frugal. He and his partner had a weekly menu that never changed. Monday was spaghetti. Tuesday was baked fish with rice and a vegetable, etc. They ate Indian food out on Friday I think. This way they never wasted food because they knew how much to buy and they never needed special ingredients. They had healthy desserts. I tried it but never was able to do it probably because of my child’s school activities.
Sir, great video but I must confess I laughed out loud when you said not worth paying $5 in ATM fees for a shady out of network ATM. The word I thought I heard rhymes with pity 😅 The “other” word works just as well! Adds comedic relief to the straight up wisdom
great content. Thank you
You're awesome Tae!
Easiest way to save or not waste your money, don’t get something that you won’t need daily and if you need it daily then find the cheapest option to use that thing daily. Do you really need a coffee from Starbucks every day? Well if you think you do then get a coffee maker it’s that easy. Do you really need Hulu and Netflix? You probably only need just one, cancel the other because we know you don’t watch that much tv. Stay disciplined and y’all will have more money than you would’ve before.
For me, the coffee shop isn't about the coffee. It's a place where I can go to meet people, socialize, and get out of my house; a "third space".
Never sacrifice enjoying your coffee ☕️😊
Take a flask of coffee into the shop and top up a cup from a previous visit when nobody looking.
I got into vinyl when it was cheap. I have like 600lps, the average price paid per lp is probably like $6. They’ve shot in price drastically, but I still love the format. I basically have every album I could want and only buy ~1-2 each month now. I even got most of my hifi equipment and record cleaner for a good used price. If you love something, pursue it, but pursue it the smart way… you can always save money!
Here in Italy insurance policies on electronics and appliances are like 30€ for an extra couple years flat fee, depending on the item's value.
4:54 a hack for me is the Panera sip club. Where I live and work there’s a Panera down the corner and for $11 a month I get unlimited coffee and teas. A difference of about $400-$500 on coffee spent!
Not sure about the extended warranty part, really depends on what the item is...I bought a third-party extended warranty on my car and I used it to fix my turbos and sensors, the cost of the repair was more than double the cost of my extended warranty. All the other areas are great suggestions!
Definitely a useful list, I don't smoke & drink so I don't think there is anything wrong with buying $10 of lottery tickets weekly.
Can't win if you don't play. I do season tickets. You can get those at a discount.
I now canceled my gym membership which was about $23 a month. I found out that my college has a free gym for students and faculty so I can just workout there after all of my classes finish. I don’t even work out that much anymore due to my school and work life. And besides my school gym is empty most of the time during the evening hours so that’s a plus for me. I also started buying coffee and lunch less whenever I’m at school. During my lunch break, I used to spend like $20 or more on drinks and food. Now I just take a small container of snacks or a sandwich with me. I also started making my own coffee at home the old fashioned way. Just a pot with heated up water and coffee grains. Not as good as the coffee from dunkin or Starbucks. But at least I’m getting my caffeine. Now I only buy food and coffee outside when I’m out with friends and family. Also only if there are deals from the apps like get a free coffee with any purchase. I can’t believe I wasted hundreds of dollars on lunch smh. I checked my statement and felt like the biggest fool on the planet. Also fashion and clothes aren’t too much of a problem for me. I have a few pair of t shirts and jeans that I’ve had for 6-7 years that still look good and still fit me. And my old H&M jacket I’ve had since 2019 which still looks great. I wish this video was made at least a year back and recommended to me cuz I definitely would saved up A LOT.
To put the lottery one into perspective:
(using 1 in 176 million as an example)
If you bought a lottery ticket twice a week for your entire life (lets be generous and say 18-88 years old), you would have spent $14,560 on lottery tickets and end your life with a 0.004% of have winning or 1 in 24,000.
Just to see a 50% chance of winning the lottery, you would have to do this for around 16,800 lifetimes. (And this would cost $245 Million in lottery tickets)