“Budget” vs “Expensive” - the REAL difference
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- Опубликовано: 31 май 2024
- When deciding where to spend money, having an effective barometer of what's "budget-friendly" or too pricey is one of the most important things to feel confident about because any debate is pointless since we all have different financial situations, so in this video, I try to settle the debate: Cheap vs Expensive: how to ACTUALLY tell the difference.
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TIMELINE + LINKS
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0:00 Intro Game
🔗👉 Benchmade Bailout Pocket Knife on Amazon: amzn.to/3vsqW4j
0:30 Axis 1 of 3
🔗👉 Pakt Travel Backpack V2 🔗👉 shrsl.com/4ax35
📺👆Watch my detailed review of this bag: • By FAR, the Best Trave...
✅ 👇Get 10% off SITEWIDE on your FIRST ORDER with code "MAURICEMOVES" at checkout
🔗👉 Unbound Merino Tencel-Blend Joggers: shrsl.com/49vio
🔗👉 Merino Crew Nech T-Shirt: shrsl.com/49vip
🔗👉 Unbound Travel Hoodie: shrsl.com/49vis
1:02 Example of Price vs Cost
This is, by FAR, the most important approach to thinking about how to spend my money that I was ever taught. A mentor shared this personal finance tip about seven of eight years ago, and it's been - without hyperbole - life-changing.
1:40 Hidden Financial Implications
Being able to see and plan for the unknown costs (both those that hurt you, and those that benefit you) is a superpower I'm still working on, and seeing the two people I know who are experts at it is always so interesting - to be able to peel back their thought process is fascinating.
2:20 Axis 2 of 3
2:56 An Important Distinction
3:26 Calculating Cost Per Use
4:22 When I Go Cheap
🔗👉 Nitecore T4K Flashlight on Amazon: amzn.to/41WgrlK
5:22 Axis 3 of 3
5:51 My Financial Allocations
🔗👉 The Free Workbook I Wrote: bit.ly/screwdebt
6:22 Defining Disposable Income
6:48 Personal vs Business Spending
7:23 Next Steps
#PersonalFinance #FinancialLiteracy #MoneyTips
Want to connect more?
Instagram: @mauricemoves / mauricemoves
Let's Get It Together!
DISCLAIMERS:
Some of the links above have an affiliate code, if you purchase gear with these links I will receive a small commission at no additional cost to you.
Unless explicitly stated, this video was not paid for by outside persons or companies. This means that the content of this video and my opinions are 100% my own, and were not vetted or paid for by any third party.
Buy once cry once is why I am alright with paying more for not "premium" or "luxury" items, rather high quality items.
I was also surprised you used your knife as the item for cost over time instead of how most Canadians understand this, through the purchase of a winter coat!
A good pair of boots is another good example
almost every single one of your videos end up in a saved playlist for me to watch later. your content is amazing sir.
This reminds me of a Terry Pratchett (amazing author, sadly no longer with us) character called Commander Vimes. Pratchett introduces the "Vimes 'Boots' theory of socioeconomic unfairness" through Vimes musing on how expensive it is to be poor:
“The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. ... A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. ... But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.”
I’d love to see a video on how to maintain the knife as I’d imagine it gets pretty dull with such a heavy and frequent usage.
You’d be surprised with how well it can hold an edge. I have the same knife, but in blue, and the M4 steel blade has held its edge for over 6 months of daily usage (primarily cutting boxes, rope and tape).
That said, when it comes time to sharpen it, I use a Work Sharp Field Sharpener ($35) to maintain its edge.
Every knife get dull, if it is dull you sharp it.
His knife is not hard used for sure. It looks like rarely used.
I own knife from 5 to 1000 $, some of than custom made for me. I really use them and know how they look depending on the usecase and how hard you beat that knife.
He is a guy that bla bla around you need to have a Benchmade to open some boxes and letters were a small victorinox would do a better job.
His argument for buying this thing is crap also, there is only one reason he bought it.
He bought it because he wanted it.
Arguing later how often he use it change nothing, he could use a cheaper knife wich does a better job at the task he need it for.
His arguments are bullshit to sell his lifestyle to other people and to make himself feeling better about buying his expensive toys.
@@Blafasel_Blafasel yup, he looks like a guy that tries to explain to his wife why he needs a 250$ knife, it's pretty funny
The problematic is that it's super hard to assess durability (among other metrics) of most consumer products today. It's often enough that the budget version is also the most durable and that the expensive is complete crap that buying the right thing makes it super hard.
This video makes it look like it's easy because we're looking at stuff that were curated by long duration of use already, but you have no way of saying something is a good deal until you owned it for a while.
Exactly. There are only a few companies out there that maintain the quality of workmanship among all their products. Everything else is a hit or miss, kind of story.
Well if we trust this guy, his stuff lasts a long time. We can just copy it to hopefully get the same performance.
@@prst99 if we have the same needs and accept to be two to three years behind, sure. That's also the opposite of some of his advices. My point is that the cost and budget he describes only work without any room for mistakes. Which is simply not possible
Valuable video, I really appreciate the way you frame your views and ideas.
You are the best RUclipsr! Appreciate how thought out and considered your videos present tips and tricks. Seriously appreciate your efforts. Congrats on getting out of debt and building a channel that doesn't rely on promoting obsessive and compulsive consumerism.
I can't love the way you explained cost vs price more. Great video with lots of great points!
Beautiful content as always buddy. Did you film that part on the plane as you were editing it today? The 3 axis part is brilliant
Safe travels buddy 👍
I was waiting for you to have a video like this - way too many people have been commenting on your gear being expensive. I have cheap gear, mid gear and expensive gear. And it’s all relative according to usage and your budget at the time of purchase. Good for you - great video!
I love the fact your videos actually break down the logic behind purchases and general edc decisions. So many RUclipsrs in a similar genre are just infomercials.
I travel monthly so fly at least 24 times (internationally) a year. I use a cheaper roller bag that has survived years of international travel (Samsonite). With soft luggage you can shape things around in the bins airline use to “check your bag’s dimensions” and in the overhead bins, but you don’t need an expensive piece of luggage, just a good-quality generic one that meets the same size requirements. I spent almost $100 on compression bags, but returned them because actually simple ziplock clear plastic bags work just as well, and if they are torn (which typically doesn’t happen, it’s pennies to get a new one. I actually carry on board THREE bags, a roller bag, a hefty SWISS (red cross logo) bag that cost around $60-70 and a generic camera bag that’s slender for all my camera equipment (I hide the slender bag behind the larger SWISS bag. I make sure to sneak up a bit on the group numbers and use a credit card by the airlines that gets me 1-3 group numbers ahead of the last group, and I’m golden. #2 tip: reserve your seat (I always spend a small amount to reserve an aisle seat, in the back of the plane-that virtually assures that you can bring on board all your luggage and you’ll have bin space. I’ve been using a soft samsonite roller bag for literally years, that cost nothing compared to more expensive brands, and it works great-I rarely check any bags. Again, thanks for these points.
The explanation was a win for me
We can always spend more money on our tools - there are so many different options.
For me, it's about getting a tool of sufficient quality that will get the job done over many years, without unnecessarily high expenditure.
I also need to comply with local laws.
So for example, my much used EDC knife is my Victorinox Huntsman SAK. This is a lot more than just a knife.
Currently, I don't need to carry much more than that on a daily basis.
Thanks Maurice
amazing explanation!!
Nice concept! :D
Good video! Could not find the info you mentioned in the video....
A supervisor once said it “buy good shoes” because they will support us and assist us all day everyday.
I have no idea how I found this guys videos, and I honestly am not super into EDC or travel, but I watch them anyway since he makes such good informative videos lol.
And when this is called 'girl math' so many people deride it. Amortisation makes sense when considering purchases.
My most used pocket knife is an Opinel No. 8. Which I probably paid less than 10€ for. Now thats what I call value!
Another great thing about an Opinel is it has a very low cost-of-replacement, important for an absent-minded messy person like myself.
Nice knife choice brother
Yeah, my calculations these days unfortunatelly have one more axis, and that is "how probable am I to loose this?" - I justify buying expensive phone/smartwatch/headphones - I have those on all of the time, and these days can use one to find the other. I can justify expensive merino shirts, as it is hard to misplace what I have on me. On the other hand - expensive pens? Notebooks? I would have loved being able to wear expensive hats, but I know it is not worth it :)
But how do you take your knife with you on flights with only carry-on luggage??
He doesn’t bring that knife when he travel. As said in calculation half of the year in Toronto
Very helpful video. How do you manage your knife flying carryon only? In the US, I have to leave mine at home. Is it different in Canada?
I think he left his at home in Toronto since he only demonstrated usage in Toronto
Is the item that you are going to buy tied to your job that helps you earn more money that cover the cost of the item? Instead of buying items that depreciate or don’t grow your net worth, why not eliminate the desire to buy the item and reallocate your funds or budget to acquiring skills, people network or equipment that help you max more money in your job?
hi maurice saw here your olive pakt case ,was it a 35 l or 45 l ??? cause iam thinking of buying one, and if yours is 35 l it looks pretty enough for my traveling as well… please give me a quick answer, marc berlin
On your financial allocation section, what's the difference between streaming at 30% and Netflix at 10%.
🦊 @MauriceMoves 🦊
Really like the way you explained your thought process. You are wise.
cost per use = acc. depreciation?
Dude! Are you going to Blade Show?? :D
There's a saying that goes : I am too poor to buy cheap things
When making purchasing decisions, assess the costs versus how often you are going to use the item. E.g. use the item three times a day = 1,095 times a year over the estimated lifespan of the product, e.g. 3 years = 3,000 times a year. Think of your limited funds after allocating to emergencies, retirement, medical expenses, insurance, daily activities of living, and other buckets, is it worth it to buy the item out of the limited funds in your wishlist bucket? What other items do you use more frequently? Is it a need or want? Perhaps you can delay buying it until there is a Black Friday or Boxing day sale. Maybe after a week, you changed your mind and don't want to buy it, thus saving yourself hundreds of dollars. Perhaps your life circumstances have changed? What if you bought an expensive outdoor item and you lost it, it got stolen or the expensive item puts you at higher risk of being robbed?
I put exactly 250 thinking it’s at least 200, all judging by the sound
5:36 there’s a problem with your income allocation. What if you got sick or injured and you can no longer work via personal exertion? Shouldn’t you allocate some funds to emergencies, retirement, future medical bills, income protection, and other insurance, funeral expenses, legacy inheritance bucket/budget for your future generations, and a bucket or portion for your spouse, children or partner should they be sick, injured or require a roof over their heads should you pass away or be disabled?
As an owner of many benchmade knives I knew the price 🤣I picked up a benchmade bugout clone though for like $20 and am pretty happy with it too.
The price versus cost explanation is the basis of girl math lol
The $250 knife is not realistic even for most of us EDC superfans.
There are however about 100 great quality knives available at the $50 price point. There's even some amazing value knives under $30 👍
It's a Golden Age for EDC !
Your production is great and i'm not dissing. However, young men don't need to think carrying a knife is cool. Its just trouble waiting to happen.
I’ve carried a pocket knife for as long as I can remember.. I feel naked without it. Just like Maurice, I use it on the daily. There is no “cool” factor to it. Its a tool…
When Abraham Lincoln was shot at Ford's Theatre in Washington, D.C. on April 14, 1865, he was carrying two pairs of spectacles and a lens polisher, a pocketknife… it’s a pretty traditional thing to carry…
i love your content and watch all videos