This One Purchase Changed My Relationship With Money Forever
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- Опубликовано: 8 сен 2024
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"Over-consumption sabotages your future. A scarcity mindset sabotages your present." That hit me hard. SO true .
So true!
It's 103 degrees outside and I know a guy that is under a fan with an A/C in the window and he won't turn the unit on in order to save less than $25 over the next 2 weeks. Ridiculous.
How can I sabotage my past?
I would also consider buying from dollar stores to save money on food better not wasting 56 dollars & walmart.
@@burchified Tell lies about it.
"Spend extravagantly on the things you love, and cut costs mercilessly on the things you don’t."
Great quote by Ramit Sethi
said like a single man with no kids
@@tomleeyrc40 So then he can teach that to the kids :)
@@tomleeyrc40 quite the opposite, if you're a dad your children is what you love the most so spending your money in what they want is the best you can do
@@tomleeyrc40 Ramit Sethi is married. And it also applies to non-single people. You have a scarcity mindset.
In 1965, my 10 year old self, a "saver" with a paper route, who also collected bottles to return for money, shagged golf balls for money etc., found himself with $5 (value $75 today) in his pocket on a hot boring summer day in tiny Charlotteton PEI while hanging with my 8 year old brother who did nothing for money and therefore had none. When he realized I had $5, he got so excited about our possibilities that I became intrigued. I asked him what he would do and he immediately said "comics, cold pop, chips, gum, candy, chocolate bars". I said OK. Best day of the summer! I remember little else of that summer but I will never forget us enjoying it all under a tree for the full afternoon. We never did it again, realizing it was insane, lol, but that also made it great.
What a great story! Have you ever thought about writing? You seem to have a knack for it.
And that golden day has stuck with you for life! 🎉
haha shit man PEI! I grew up in small town Canada in the 80s. Couple of friends on bikes with 50 cents would go so far at the corner store. 43 years later, I am finally learning how to stop hoarding these coins
@@howdythere3121 Thanks, glad you enjoyed it.
@@CubanDre Oh yes, @ $.10 / pop, same for a comic book, or chocolate bar, chips $.05 etc it went far. Little bro, who I gave the lead to, also wanted 100 buble gums @ $.01 each lol. I let it ride. It was a hoard. Mel, the store keeper, knew the family and us or we would have been challenged as thieves for sure.
"Enjoy yourself, it's later than you think
Enjoy yourself while you're still in the pink
The years go by as quickly as a wink
Enjoy yourself, enjoy yourself, it's later than you think."
Hi my name's terry and I'm going to enjoy myself first
@@WhiteBubblySoup YES!!
I will always associate this song with the final episode of, "House, M.D."
Read it singing in myind
The guy who sang that with Jools Holland Orchestra is now dead..so heck yeah those lyrics are so true
I bought the same exact machine about 10 years ago. The lesson I learned was not about scarcity, it was about the short-term benefit of buying on the cheap. This machine was expensive, but I have derived so much value from it, it is the best thing I've ever purchased. Really. I am now trying to apply this lesson to other areas of life. “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
― Benjamin Franklin
Buy once cry once
Damn that's why they put him on the hundred, wise man
$400 for a coffee machine you use every two weeks is a waste but $400 for a hobby and something to share with friends is nothing , you needed to see it as a hobby rather than a frivolous unnecessary purchase .
correct. 😇
This right here. ☝🏻
A hobby you can share with many.
She literally said this. Literally.
Our coffee maker was double this, we use it 4 times daily per person and have had it for 6 years that's a lotta cups made still works like a beast👍
If you have the money to spend then it becomes a matter of do you enjoy tinkering with a coffee machine more than you enjoy making 300 bucks? And keep in mind the only reason you enjoy making/saving money is so you can spend it.
I can say from experience when you hit the point in life that a $2500 car repair bill is an inconvenience not a life-threatening and finance ruining event, you are in a good place.
I'd be fucked.
You generally don't there by buying coffee machines you don't need.
My wife's a coffee hound so I watched this. Very good video. When I was young, my father told me that I needed a job that would pay enough to enjoy life when I wasn't working. He didn't mean retirement. He meant that we needed to enjoy life as we go.
That's always been my philosophy. I save some and invest, but I also spend and do things with my money. I have a view that life is short, and we need to enjoy it while we can. You don't know what tomorrow will bring.
I think I got this attitude from los8ng my father at a young age, and then losing my teammates in the military due to an ambush by the Taliban.
I take things a day at a time, and I save for the future but I focus in the here and now.
There's a happy middle ground between unbridled consumerism and stoic frugality. Nice to see you're finding it!
Couldn't agree more!
There's nothing wrong with buying something nice for yourself once in a while, within reason of course. Gotta treat yourself occasionally....
@@AccordingtoNicole why Is your hair locking like 2014? Why you lock in general like 2014?
@@Black25284 why judge?
@@Black25284 Maybe because in 2024 we have so many drag queens? I'm going to vote that Nicole is a "hot chick" in her own way. (Do you know how many men appreciate straight hair?) And why does one say lock when they mean look. Bad bot. No botting botter.
It's not about coffee, it's about learning that fun and adventure are not trivial non-necessities in this life, and giving yourself permission to allocate part of your discretionary income to funding the fun, without guilt, apology, shame, or regret. This is huge for people who were brought up with a scarcity mindset. EnJOY! xx
I would agree with you, but people suffer because of coffee, and forests are cut down for coffee. It's not worth it. Coffee is not necessary. Food is necessary, coffee isn't. I like coffee, in fact I really like the taste of black coffee, but it's one drink..... The pleasure only lasts a tiny moment. Should so much suffering happen to others just so I can experience a moment of pleasure? I enjoy coffee sure, but it's not even that great of a pleasure....
Nope. Not worth.
@@hhjhj393 The ants are suffering because people farm potatoes. I'll stop eating chips from now on.
I saved for years & am now comfortably retired. I recently noticed that I'm just as frugal, but why? I'm here! This is what I saved for. So I went crazy this week - I bought grocery store sushi for lunch & matchbox cars for the grandkids! Baby steps, I guess.
Pace yourself, now! You don't want to step out on a ledge too fast...Lol
You'll be cured of being a tightwad when you can spoil yourself with a pair of custom made shoes. I have plenty of money in the bank, but my parents were born in the mid and late 1920's, so they had plenty of experience living thru "lean times" and lived an example of being frugal. Dad always bought used cars and had a good relationship with a trusted independent mechanic.
Hey, that's great, good for you to have given yourself the respect and care you deserve to enjoy yourself on something that you know you have the capacity to provide for yourself. Doesn't matter how small the strep is, it's meaningful to you and if it brings you joy then that's all that matters ❤️
“Overconsumption sabotages your future, but a scarcity mindset sabotages your present, and both of them make you regret your past.” Great topic, very thought-provoking. I grew up with similarly penny-pinching parents… we were told to conserve everything from laundry detergent to Dixie cups… I relate to the mind shenanigans I’ve had overcoming the tendency to over-over-over think $$ and decision-making in general.
❤
Unfortunately I can only give this video one Thumbs Up. My wife and I are getting up in years and if we hadn't taken some of the trips we have in the past we may not have the chance going forward. The trips were all paid in cash and may have stunted the growth in our retirement balance but these are memories that don't go away. Enjoy life if it doesn't harm your future.
I'll probably die working because I can't afford to retire, but my wife and I moved to Europe when we were dating decades ago, traveled around, saw things and did things that most people in my same situation can only dream about.
We did this in part because we lived in Fairbanks and saw all the retired tourists, many of which could barely walk across the street in a single light cycle, and thought why wait until we're too old to actually participate and enjoy it.
Don't regret a thing.
I've been through this. My father was fairly stingy about spending despite him and my Mom being relatively successful in their careers. Our childhood often struggled with skimping on everything to save more money. Despite his relative success, he never got over the scarcity mindset. It plagues him and his marriage to this day.
If we as kids didn't explicitly tell him we ran out of cereal, despite him knowing we're out of cereal, he would avoid buying more cereal. It didn't matter that he and my Mom had good jobs, it didn't matter that cereal only costs $3. It didn't matter that it meant his two kids would have breakfast for the week. What mattered was that he saved $3 not buying it that week.
This scarcity mindset will destroy you folks. Even when my Dad retired and my Mom was far out-earning him even before he left his job, he would still skimp and cheap out on every little thing he could get away with. He'd pick on my Mom when she bought a "nice dress" that cost $50 when attending my brother's wedding.
Don't let this mindset break you. It is necessary in a survival situation, but don't forget to actually live your life when you crawl out of the debt hole.
Your dad actually sounds like a decent man. Maybe of insulting the man who provided for a family, maybe you could try and understand where he is coming from?
Maybe he is crazy, idk, but I didn't see any examples of him destroying anything in your comment.
Scarcity mindset totally describes how I've felt about money ever since I got out of debt in 2018. I finally had the means to save money and I did. Then I was terrified to spend it. Flashbacks of that mountain of debt I stood under paralyzed me. I still am afraid but I have dipped my toe in the water and am learning that it's ok to spend money on the things that make me happy. Like traveling. I booked a trip last year and paid in cash. Much to my surprise, my world didn't implode, I could still pay my rent, bills, etc AND have some left over. I'm still learning and trying not to feel guilty that I took that trip.
This is exactly the video I need to watch over and over. Thank you for talking so openly about scarcity mindset.
I could have written this. I got myself out of a perilous financial situation and then began to save every possible cent I could to prevent that from happening again. I recently allowed myself to buy a rebounder (mini trampoline) and that “splurge” didn’t kill me! I actually love my new purchase.
@@deb1130 ♥ How fun! A mini trampoline! I am glad you love it. Enjoy every moment while using it.
I want to grow up to be you. I'm close. If I hadn't had to replace a stolen car (with a giant yellow kayak on top that looked like a mutant banana; I ask you, who steals something that obvious, really?) and a hail-destroyed roof last year, I'd be closer. I still hope to travel.
@@lynnlytton8244 omg! How horrible. I'm so sorry that happened to you. LOL a mutant banana. 🤣
I resolved this by making one year loans from my savings to myself at 6%. So if I dip into savings £2000 for a bike, I set up a standing order of 172.13 per month for 12 months from my checking to my savings account. Then sometimes I feel broke and look at all the outgoings and I'm like, yeah I didn't need that, or, I already broke that, or yeah, I could just spend more time with that instead of spending again.
And because me-the-bank always beats me-the-consumer, I continue to save while enjoying luxuries
When I first discovered I have enough money to buy stuff, I learned that it's really hard finding stuff worth buying. Most things are crap and are more burden owning them than not owning them. Then all the time used for recherche, what the best buying option is, was just wasted. Now I just enjoy knowing I'm financially safe and only buy something if I'm convinced it will improve my life.
True that. When I started earning real money, it was mind-blowing to walk around a mall and discover that all the stuff I had coveted, like jewelry from Zales or clothing from Macys, was overpriced crap. You find much better quality at the thrift stores.
My wife and I went through some hard times when we were young, and it made an impression. We both lived our whole lives in a scarcity mindset, although not to an extreme. I did all my own auto and home repairs. I saved 10% of my pay in a 401(k) for 27 years and adjusted to that 90% income so we never missed it. Our discretionary income and savings really jumped when we paid off our mortgage. I was able to retire at 55, and it was the best decision I ever made because she would fall ill when I hit 65 and pass away 2 years later. I wanted to do a bit of traveling but she never wanted to leave our pets alone at home. My lifestyle is "comfortable" now and I will never live long enough to spend that 401(k). So... Nicole has a good point. Moderation in all things. Allow yourself a few pleasures along the way, for that much-anticipated tomorrow may never come.
This mindset of beating yourself up after the fact on small purchases I make really resonates with me. I’m a 50 year old man with a home fully paid off and no other debt, significant savings and enough left over money every month, and I cannot stop feeling guilty for spending $150 on a stupid item I wanted from Amazon or once in a blue moon allowing myself taking an Uber because I didn’t feel like using the public transit. I really don’t know how to teach myself to relax around the fun money.
why not make a "fun" budget, allocated for spending without justification
ruclips.net/video/pmrSuuDGs-U/видео.htmlsi=yR895Yd6xPX0hMdN
@@kevalan1042and you need to get rid of it, if something’s left over, invite a friend to dinner. There is no waste in that.
@@kevalan1042 If I did that I would end up not using the allocated amount anyway
Maybe what I will say is a bit harsh, but man. You are 50. Realistically how much more years of good health and quality of life do you have? 10 to 15? Never knows, may be 5 may be 20. You worked your ass off for 30 to 40 years. Of course I do not know you, but how many good memories do you have from these years? Can you imagine anyone at 80 years old telling that he wishes he would've save more money? You cannot take money with you. Fuck it. Buy a motorcycle you always wanted, but the camera, bicicle, flying course, jump with parachute, rent a Lambo if its your thing, fly to Thailand.
Someone wise told me one that we only regret thing we didn't do. I find in more and more true everyday.
The real message of this video is about mental health. I completely relate. I have done this same mental gymnastics over so many things. You can't take the money with you...make it, save it, invest it, and spend it...and just enjoy life. You can always make more money but you can never get more time.
THIS. I would add that the only time that exists is NOW
$700 for my machine, turned me from wasting time and money twice a day going to Starbucks, waiting in line, often getting my order wrong and having to go back after I get home, to a vast increase in happiness and satisfaction. I don't even make fancy stuff, I make a mocha twice a day every day and it's often the most satisfying thing in my day.
Yeah, me too. I enjoy making my coffee.
Exactly how it was for me. A $700 machine sounds bad until you develop a Starbucks latte habit. Add a dollar or two for tip and your machine pays for itself within months.
My husband and I met over a cup of Starbucks coffee and, when we were dating, we'd meet at Starbucks almost every evening and have a cup of coffee together. After we married in 2005, we bought a $40 steam espresso machine and a burr grinder and stopped going to Starbucks - first because of their Leftist politics and then because of their prices - but still bought their coffee beans because the dark roast coffee beans available in our city were over-roasted and just tasted burnt. Then Trader Joe's opened in our city, and we started buying their Bay Blend coffee beans which were just as dark but were much smoother tasting and cheaper than Starbucks coffee beans and we've never looked back. Trader Joe's did away with their Bay Blend over sourcing issues during COVID, so we now buy their French Roast beans and love them. Starbucks has become a business we don't support, just like Target and a couple of others. It's unfortunate that these businesses value their politics more than their customers, but that's the world we live in today.
LOVE THIS. ☕ 💕
My wife loves cappuccino. So I one day, after reading a million reviews and waiting for 2 years, I bought the same machine she bought. Now I make my wife a cappuccino every morning, with a nice latte art heart on it (yeah I know it's simple, but it makes her happy). She sits there smiling and enjoys the great coffee to start her day. That piece of work, that takes 5 minutes out of my sometimes stressful morning, is very enjoyable to me. Even though I often don't drink coffee myself in the morning and share with her. Just doing that one thing every morning for her, with an expensive machine I waited so long to buy makes me happy.
Sometimes, owning real quality products is far better than keeping the money they cost. Living well is more than just having lots of money. Exercising restraint is still important, but everything in moderation is the goal.
There's a saying that's so true, the cheap turns out expensive.
In my early 40’s I started to earn a lot of money while keeping my lifestyle very frugal.
After a couple of years like that, I decided to explore how spending more money would make to me.
I bought a new fancy car and, I started traveling around the world with my family.
Money really gave me the feeling of living more at that time but, like a drug, the feeling faded away when I was back to my ‘normal life’.
After 6 years, I decided to return to a frugal lifestyle, to enjoy simple experiences which do not cost you a lot (like hiking) and focus on what really brings me joy.
There is no causality between money and happiness.
Money just makes you more secure and free to make your own choices.
This is my journey. Usually I don’t write too much about it but your video was a good catalyst.
Thank you for sharing!
I like how you wrote as much as what you wrote, sir
Was it hard for your family to switch back with you?
@@welshie2007 luckily no. I switched when my children left home for college and it turned out to be easy to return to a frugal lifestyle my wife and I eventually preferred.
We humans physically can't experience "happiness" for long periods of time, it's just not in our wiring.
Look at men with porn.... The pleasure always fades, and your brain demands more and more to feed the dopamine hit. You start off looking at playboy mags and suddenly you are watching the foulest things....
Or with food, you eat a cookie and get a momentary high. The cookie was AWESOME, but only for a moment... You reach for another cookie to keep the pleasure going, but the second cookie while good just doesn't taste as good as the first one. You go to the store to buy more cookies, but the normal cookies aren't good enough anymore, now you need double chocolate, dipped in sugar, super soft cookies. Again you eat a cookie it tastes AWESOME, but only for a moment....
You buy a nice car you feel like a king! But only for a moment....
Chasing pleasure is a fools errand. Instead of fleeting pleasures seek longer term happiness.
Instead of seeking simple sex, seek a deep relationship. Instead of buying cookies, try gardening. Instead of buying new cars, try walking, hiking, or designing something.
I truly believe that no joy can truly ever come from consumerism. The pleasure you get might be immense, but only for a moment....
Holy cow. A week ago I spent $440 on some automatic litter box. I have been questioning the decision ever since. I was debating sending it back. It doesn’t change my life. It helps a little. And it may not last. It’s $440. Then your video comes across my feed…. That’s me! You’re spot on! Why am I worried about this? My financial situation is very good. I am wasting hours trying to decide if the expense was worth it. Thank you.
If it's a Litter Robot, it was a great investment. We've had one for a couple of years now, and although it's not perfect, if it broke today, I would be ordering another one tonight. Beyond the convenience it provides, we use literally less than half of the litter that we used to.
@@thisdude5825I recently started looking into review for an automatic litter box as I thought it would make my life easier and increase the quality for my cars because it would be getting cleaning through the day instead of just once. But all the reviews I've looked at so far said they were more hassle than they're worth and not great for the cats?
So could you tell me more about your experience? I don't wanna give up on the idea just yet
Pam here….what the scarcity mindset does the most is create a different kind of selfishness, almost a cruel one really. I have observed the lack of generousity, benevolence, and genuine care for others who might be in need or suffering in some way. I find that this mindset is a twisted form of greediness too. One person I knew, loved to always be dressed in new clothes. OMG, I was like HOW does she afford this? She wears it all once or twice and returns it. A couple stores in our area finally cut her off. It was really a form of stealing.
Not spending on yourself doesn't mean you don't donate generously to worthy causes.
Apparently the returning clothes scam is really common 🤯
Unbelievable!
Money is for recognising the good work of others.
Saving is mean by nature, wastes other people’s time and effort, creates unemployment and reduces the real world products available in the future.
Should you buy a bond to purchase a retirement home in the future or should you invest in a retirement home that meets your requirements?
Saving destroys everyone’s present and spending creates everyone’s future.
Mehhh, this comment is not really right. I have a huge scarcity mindset but donate generously. Just have trouble spending on myself
@@Skolzerx Donating is spending.
The only way to save is to buy bonds or invest in other people's bonds (bank debits, super and stocks).
Luxury is defined as the state of great comfort. If that upgraded machine brings you joy every day, it's $400 well spent. It also is important to amortize your spending. If you get 8 years out of that machine, it's $50 a year or 14 cents a day
And because its quality, it will be still worth $150-200 in 8 years if maintained. 👍
Exactly. I still use the Racilio Silvia I bought for $600 in 2009. $40/yr and still going strong.
If coffee is your hobby you need a better hobby!!!
Aka WAAAAAAAY MORE than just MAKING YOUR OWN COFFEE!!!!
@@bobsmithersBUYING a COFFEE-MAKER…..to SELL it???
I spent $3500 on a commercial machine when I had money. Paid for itself in 18 months. No more trips out and an obligatory cake. People now came to me for coffee so I saved time. 23 years later I am so far ahead. Best purchase ever
I was also raised in a scarcity mindset but with one big caveat. My parents always told me to choose my priorities and buy the stuff that is important to me of the highest quality I can reasonably afford. The saying is "Only a rich person can afford to buy cheap stuff". Because you often have to buy it twice - first cheap and later again - good. This way almost all the stuff I care about is high quality, reliable, and lasts longer than I've expected.
I tell me kids - always buy the very best you can afford - it’s true.
“Fun is a good enough reason to do something… Life is weird. Life is boring, and stressful, and sad, and it’s up to each of us to find ways to make it less so.”
I came here to hear about your espresso-making experience, and learned a lot about life. And you won a new subscriber.
We all have no idea how long we have in this wonderful adventure of life. I have an impending loss of a close relative (to Stage IV cancer, DLBCL or large diffuse B-cell lymphoma) to remind me to appreciate the gift of today. There are no guarantees for tomorrow.
"Everything in moderation, especially moderation."
Insightful! One thing I found for me is maximizing the joy that money allows. For instance, spending money on a beautiful kitchen knife that I use every day vs spending money for something fancy/beautiful which I use rarely. By choosing the knife I get to enjoy using it each day and each time I see it I get a little hit of beauty which brightens my day. As opposed to splurging on something that gets stuck in a closet and only used a few times a year, or some painting for the hallway that I walk past without even noticing on the way to the bathroom most of the time.
It was a surprising revelation to see you step back ever so slightly from your minimalist lifestyle, difficult as it may have been. Life is too short to deny yourself whatever it is that gives you a moment of happiness. I have only recently decided to stop denying myself purchases I would have thought too expensive in the past but now offer me a degree of joy and a way to shake up the mundane moments of life. So, please, ditch the regrets and enjoy yourself. You have earned it.
She still only has one espresso machine and she learned to make espresso on the less expensive machine. I'm more impressed she saved 400-600 dollars on the purchase.
Minimalism as your actual Budget allows a person to buy higher quality more durable things.
I'm a drip coffee person though and the flavor in my coffee comes from the creamer I use. And I prefer using honey to sweeten coffee at home. For long term use I need a coffee maker with an indestructible coffee pot. As I usually have to replace machines because I burn or break the pot
@@kennethoneill4176I hear ya. Several years ago, we broke our drip coffee pot. I thought, I'll just replace it. The pot was more than a new coffee maker. Go figure.
@@SPR_NAPALM unless I unplug a coffee pot after I use it I end up eventually leaving it on and burning the pot .
But I'm low class I'm not above buying coffee from gas stations that if you save the cup you can refill it day after day for like 50 cents
@@SPR_NAPALM I'm 70 and have been a coffee lover since I was a teen. I'd tell anybody that a cup of very hot strong instant coffee with some powdered creamer and sugar when there's nothing else at hand tastes pretty durn good, especially if you're cold and need the caffeine kick right now. When my old Mr. Coffee finally quit working over a year ago, I searched out another 12-cup drip model online and found one at Walmart selling for $12.00 because it was white instead of black. I use it daily, and it's holding up fine. Coffee elitism is a thing on you tube and always cracks me up. And mainstream media said yesterday that coffee prices will probably be going up, no surprise.
I did almost click away once I saw this was about a coffee maker, but somehow I knew by then that it would be meaningful and insightful. It's fascinating how you know immediately when you're dealing with a genuine and thoughtful person.
My two most prized possessions are my 11 year old Bosch coffee maker and my 12 year old Taylor guitar. The coffee maker works as well today as the day I bought it and the guitar gets better with age. I enjoy them both every day. It's very gratifying to make a purchase that you're 100% satisfied with, no matter the cost.
MY $8 Walmart coffee maker STILL WORKS PERFECTLY after NINE YEARS.
I totally get this and this was me until November of last year. After years of interest in photography and occasionally shooting on my second hand Canon, I decided to take it seriously and get a professional camera and lens and to go out and use it every day. That purchase had so many positive side effects on my whole life. I went out way more than before, got happier and became more open to new experiences.
This is weirdly relatable for me. I went through the EXACT mental gymnastics with the EXACT same Breville model. Growing up with immigrant parents, while teaching me the importance of saving, really did break my relationship with money in more ways than I care to admit.
I've always dreamed about a fender guitar, and in Brazil they are really expensive, so when I got my first job I bought the cheapest guitar and spent years and money improving it with new gear.
One day it clicked me and guess what. I spent 3 fender guitars improving that cheap one. This was a lesson for a life.
In Brazil we have this saying: The cheap turns out expensive. Lesson learned.
@9:36 "And fun is a good enough reason" That's the point you needed to get to. Only took you 3 months plus 9-1/2 minutes to get to it. Whatever, enjoy.
I was raised with a scarcity mindset, and then spent much of my married life while the kids were young barely scraping by paycheck to paycheck. There was always financial pressure. Even once I was separated and had a good income, I was still using unpacked moving boxes as furniture because it "didn't make financial sense to buy anything." My next relationship was disastrous in all aspects but one - he taught me how to have fun with my money. I spent so much time just jealous that he had so much stuff he really enjoyed, and then something suddenly shifted and I realized there was nothing stopping me from spending my money on things I wanted too. Have I bought things I regretted or overspent in certain categories? - yes, of course. But overall, I've tried to stay within my budget and with a mind to not adding clutter to my home. I've certainly enjoyed life more since adopting that outlook. I think of myself as an epicurean: I don't want a lot of stuff, but I want the stuff I have and care about to be the best I can afford. It's more enjoyable, easier, and lasts longer that way. I don't spend my hobby time wishing I had the "thus-and-such" model instead of whatever I bought.
I believe that everybody who comes up in financial hard times and lives to see more affluent days must face this truth: frugality is a superpower in poverty and a prison in wealth. A poor person who comes into money and can't bring themselves to ever spend any of it is poor forever.
It's often really hard for frugal folk to flip that switch and realise they don't have to live in scarcity any more. And excessive frugality is just keeping them miserable. It's a response to a problem that no longer exists.
Obviously don't go buck wild and fritter money left, right, and centre. But handwringing about enjoying purchases you totally can afford is a giant waste of time. Money you can't ever bring yourself to spend is worthless.
Well FWIW I’m still pretty far from affluent. Definitely not in poverty, but far from a place where spending money is inconsequential.
Wow. This was truly an excellent comment. So profound, and so true. “Frugality is a superpower in poverty, and a prison in wealth”. “A poor person who comes into money and can't bring themselves to ever spend any of it is poor forever.”. Those are some of the best comments I have read. I wrote them down. Thank you for sharing that.
Oh, it actually fits very nicely with my earlier conclusions:
- Don't judge what others are doing with their lives, because their _goals_ are probably very different from yours.
New one from you:
- Don't judge what others spend their money on, because what they _love_ is probably very different from what you love.
I met a young man in 1992 that was heartbroken about his upcoming divorce. You see for years he only focused on work and paying off his house and his young wife was upset that they never had fun.She wanted to go camping or go on a road trip because they both worked hard for employers and only paid down the house she began to hate. I told him that moderation and fun are needed, some fun is an investment for the spirit."
Then I said this: " If all you ever deal with in your relationship is problems ......then..... your marriage becomes a problem. They sold the house and got 54,000 each. He listened and went on to see the importance of healthy moderation.........
"If all you ever deal with in your relationship is problems ......then..... your marriage becomes a problem", wise axiom. 👍🏽
Great comment. Luckily, I have a wife who knows how to spend to enjoy life as I veer towards always saving. Balance is key. Invest in your relationships. Wife, kids, friends. Listening to “Cat’s in the Cradle” always chokes me up: lost relationship: 🎶“He'd grown up just like me, ya,
My boy was just like me”. 🎶. 😢
Not true for us. We ran to the problems vs let them fester. We found each others company fun. I think too many people think problems resolve with time without any engagement. So they avoid problems and divorce because they are tired of the problems not solving themselves. Run to the problem and enjoy each others company facing the issues
If it's worth doing, it's worth doing well. There's a persistent joy in using things well designed. We're tool makers, and appreciating tools made by people going that extra mile to make it great also means appreciating those people and confirming the mindset we share with them.
James Hoffman set me straight. I really enjoy coffee but JH said if you’re not looking for a hobby don’t buy an espresso machine. His suggestion was to leave the fancy drinks to the professionals and purchase them as required. However to meet your coffee needs go for an Aeropress or a Pour-Over for your morning fix. This has worked well for me and satisfies my morning coffee fix. I still indulge with the odd “fancy” milk infused drink, but the Aeropress (that was purchased for me as a gift) really dos the trick. I really enjoy your pragmatic real world videos Nicole, keep them coming. Take care.
That exact video is why I own the Breville Precision Brewer that he has.
A few years ago I realized that everyone has, or at least would like to have, a thing they spend "too much" money on. Like, I saw this wooden bathroom caddy on Etsy for $200 and I thought "Why the hell do you need a $200 bathroom caddy?!", but when I thought about it, I'm the same way with computers, and my sister is the same way about cameras. I don't NEED a $2K gaming desktop, and she doesn't NEED a $1.5K Sony Alpha whatever camera, but these things are our hobbies and they spark joy.
There's a middle ground between frugality and over consumption and it seems like you're finding it. Kudos to you.
Would a $500 6800xt have been fine? Yes.
Did my $980 7900xtx cost more than I spend on rent? Yes.
Has it brought me the simple joy of a premium product delivering premium experience every day for over a year? Yes.
We spend so much time working, and so little on hobbies. For the things we use the most, it often makes a world of difference to have that little extra.
Recently I was building a computer for my partner using old parts. During the down time we started playing Remnant 2, and she used our steam deck on “potato” quality (it’s literally called that in the game, lol). Seeing 4k ultra side by side with 720p potato, I’d never felt so good about every penny spent on my card.
It’s important to have things that translate all our labor and work into a sense of earned satisfaction. A few nice things that work as they should, every time.
“Fun is a good enough reason to do something” Words to live by
"Fun is a good enough reason to do something you can afford, if it is something you want to do” Words to live by
Once my financial situation improved I had to fight myself to spend money to accommodate my newly diagnosed ADHD. Yes, $800 for the robot vacuum with the mop and dock felt absolutely insane, but when had I EVER EVER had mopped floors in my adult life before?
Friend, you are AMAZING. This whole story is so relatable. I don’t know anyone who won’t learn a LOT from this. Thank you SO MUCH for sharing ALL of this. You’re wonderful!
Consider : add a pinch of cinnamon to the darkest espresso. Tiny pinch. It’s my favorite way.
I was raised to buy the best quality of what you want even if you have to wait and save the money for it first. We have taught this lesson to our children🌻I have never regretted buying quality items but have watched many friends buy cheap things and replace them multiple times.
I've been raised like that too. Whenever I buyed a video game with my hardly earned money, I was earing my mom in my head telling me that wasn't necesary and I wasn't a kid anymore. The sentiment of culpability is real but, eventually, you realise that life cost money. You're not gonna be buried in dept by buying what makes life enjoyable.
I bought a $450 grain mill to mill my own flour from wheat berries. It elevated my baking game and I now make extra loaves of bread to share with friends and family. I get to educate people on the difference between real bread and bread from the supermarket - and when people taste the difference they want to learn. It’s a virtuous circle. So… like Nicole, buy something nice and use it for yourself but also share with others - it really makes the experience rich and takes away the sense of over-indulgence. Sharing is key!
I had the same epiphany with my Barbie pajamas... I rarely buy clothes, like, really. So, it was a real struggle to convince myself to buy 2 Barbie-themed pajama sets... but they really give me joy and I'm always smiling when I wear them.
It’s hard to find the middle ground between mindful with consuming and also spending money, while also not restricting yourself too much. For me, a big thing was buying new furniture for our new apartment - and moving into it in general. It’s way pricier than our old one, but oh boy does the balcony spark joy. Same for the furniture, one vitrine and one lounge chair I’ve dreamt for since forever…
*IVE BEEN A MILLIONAIRE* and Ive been homeless - Ive lived with multiple apartments and villas packed with expensive stuff and I've lived in a 1 bedroom unfurnished apartment with NOTING
This is my advice. Own as LITTLE as humanly possible, but the things you do buy, buy the BEST quality you can afford / get hold of. But ONE quality item a year for the cost of the 40 items of trash you usually buy. Im a bespoke tailor now of historical suits, my clients buy maybe 1 suit ever 2 years, and they buy second hand as well. --->
I just bought a new sewing machine - actually its 30 years old, but its the perfect one for the specific task, its taken me looking every day for 18 months to find it in as new condition. As it happens it was very cheap - but I would have paid 5 x the price for it because its THE RIGHT TOOL FOR THE JOB. and it will last until I pass away.
I just bought cashmere !!!
I see it the same way. Buy few things but buy the best. The older one gets, the more one accumulates and most of it is just junk you end up having to get rid of. Skip the junk phase and go right to a few very nice things you really enjoy.
@@pennynickels5216 I hope you enjoy it and it lasts you a long time. If you need to wash the garment buy a bar of old fashioned white natural tallow soap, grate a small quantity off into a bowl of warm water and gently wash the garment just swilling the water through and around the garment.
Rinse thoroughly and dry flat - dont wring it out - but as it drys pull into shape. Cashmere is a wonderful fibre but its short and fine, it will not stand washing and dry cleaning strips the natural oils - so after you have it cleaned it will get dirty very quickly.
I hope this is helpful
@@joeshmoe9940 I suffered brain damage in a mugging when I was rich - in the aftermath I was evicted and left behind everything I owned except my dog and some clothes and my car. I chose not to fight the legal battle to get the stuff back, hard to do when you are homeless.
That was 10 years ago - turns out 98% of the stuff I left behind I had no need of. I have never had to re-buy it in order to live a happy life.
The things you own, they really DO own you. You have to pay to insure them, to store them, to move them, to maintain them, to upgrade them.
I've been a rich man and I've been a poor man,
And I choose rich every f**king time!!!!
So glad you told us not to click off this video because it was about a coffee maker... Didn't even know I needed this video right now. Hit me in the feels, thanks stranger.
Perfect explanation of why the amount of money you spend on hobbies (coffee, 3d printing, sport, gaming, roleplaying, horses, whatever) should not be justified in the traditional way. Just spend as much as your wallet can safely and comfortably handle.
I have been frugal my whole life and paid my mortgage off quickly and now have a nest egg, but a life of austerity has made me frugal and I feel I left it so long that now I'm at a point where I've lost interest in the things I wanted when I was saving, l have the money to buy whatever I want but I have nothing I want anymore. My advice from this is to find a balance, and not to get too deep into he whole delayed gratification thing because you run the risk of having nothing to look back on and be happy about. My grandkids will be the real beneficiaries of my frugality.
Thank you for this video. I am retired and spend less than half of my income from my investments. Yet, I ponder over possible purchases within the same price range as your coffee maker for months even though they will make no difference in my long-term financial situation. Your sharing of your struggle helps me see that all of us people who were born or have lived in financially strained times internalize too much pain over spending. Sometimes we must examine ourselves and excise some of our demons to enjoy life more fully.
Great presentation! Excellent lesson and well stated.
I too grew up with a scarcity mindset and for most of my life scraped mold off of any spoiled cheese, ate more if there was free food at a venue, choked down overripe bananas, stopped at every pile of curbside trash to find treasures, save soap bar scraps to combine later to use, shoes were good until there was a hole in the bottom, etc. I even had a minimalist mentality through my twenties and actually enjoyed it. Then I bought a coach wallet and used it and enjoyed it for almost twenty years. I learned that not everything has to be cheap if it is made to enjoy and last for many years. In many cases, buying higher end products saves money in the long run.
I always have in the back of my mind that I don't want to end up dying with a load of money in the bank. This keeps me from being obsessive about saving.
If you end up needing medical care for a significant disease you'll regret it. Im on the med Revlimid, the low dose is $15,000 a month. My copay is about $7,000 a month.
@@puregold1725 I live in the UK. So all medical care, drugs, etc is free for everyone on the NHS.
I'm in usa also. Its crazy how much it costs. I agree with you.
@@caparn100 just curious what your taxes are because I've read that counties with universal health care have high taxes. But it probably better than here in the usa.
@@puregold1725 In the UK there is zero income tax and national insurance contributions (NIC) on all income below £12,570, above that we pay 20% income tax and 8% NIC (28% total), above £50,270 we pay 40% income tax and 2% NIC (42%). Contributions to pensions are free from income tax and for some people also free from NIC. So for instance, someone with an annual salary of £70k would pay 28% on £37,700 (£10, 556) and 42% on £19,730 (£8,286) giving a total amount of tax and NIC of £18,842. If the person decided to put £20k of their salary into a pension that year they would pay a total of about £10k income tax and NIC.
I happen to walk your very same path: I own the Breville Barista Express after having a plethora of coffee machines , ranging from the cheap , upgrading to semi professional, then professional Italian gear, finally purchasing an elite ultra expensive Italian , design awarded Victoria Arduino, just to come to realize what a lemon was. The Breville offers the best value for your money , and gives truly exceptional and consistent results, in small footprint. Is definitely my final choice. I am SO glad ! By the way: it ranks number one in sales in the US.
I suffer with this on a much more extreme level. I went back and forth for weeks between whether I should drop $8 on a pair of bluetooth headphones at five below so I could listen to music at work. I have so much money saved and still $8 felt like too much. I’ve held onto the receipt for 2 weeks in case I want to return them for any reason and so far they work great and I’ve actually been using them!
That’s wayyyyy too far
@@AccordingtoNicole Yes!! I’d rather oversave than overspend though lol I have pinched pennies my whole life
You work hard to enjoy life buddy. If spending is your poblem, plan ahead, set aside disposable income every month, spend that money on yourself knowning that you can.
I resonate with this because I splurged on Bose over ear noise canceling headphones a couple of years ago. They are PERFECT and I use them every day. Consider the cost per wear for items and buy the best quality you can afford. Keep it forever. You will save $ in the long run.
I'm with you , I have saved up a lot of money (not rich), but the survival mode that helped me save that money doesn't let me spend any of it
Dickens wrote: "Yearly expenses 10£. Yearly income 9£ 19 shillings. Misery. Yearly income 10£ 1 shilling. Happiness." Many people, perhaps most, are out of control financially. Financial management and investing are skills which can be learned. To save $100 is hard work. To grow $100 to $110 is hard work. To grow $100 million to $110 million is inevitable. The second stage of financial management is learning how to spend your money. That's what it's for!! This is actually harder than learning how to save in the first place. Bravo for buying the "upscale" espresso maker. I actually use a $25 Moka pot. Chacon à son goût.
Yes, the scarcity, minimalist mindset has served me well all my life. I, like you, am at a point in my life that is causing me to ask why not? It is a struggle, but I have said yes to loosening the purse strings a few times, and everything is OK. In fact, I think stepping out of survival mode, which is the economic mindset of scarcity, is actually bringing more rainbows and unicorns into my life. I do have to say, as a lifelong coffee drinker, that I have had it in every conceivable way. Today, I love strong, black, unsweetened dark roast. Heaven!Thank you for sharing... 😃❤🙏✌
I played piano as a kid til I was 19, then stopped because uni got too hard. At 27 decided to go back and buy an awesome 6500 euro piano (Kawai K300 Silent). It was all my savings at the time, but no regrets, I actually enjoyed the new piano so much I started studying piano again, and now at 37 I play it from 5 to 15 hours a week. I'm not a pro pianist, but a decent intermediate musician. I teach little kids, I compose comedic songs with my nephews, I play with my brother who plays sax, I share recorded songs with my other pianist friends... Having a hobbie which engages you and allows to share the benefits with others is incredibly rewarding, being coffee, a piano or whatever!
2:45 Fancier and more expensive does not always mean high quality and well built. Most times, that fancy, expensive is priced because of the brand slapped on the front.
I appreciate your thoughts pre and post $400 coffee machine. I used to use alternatives for getting to an airport, but then, out of great convenience to me and my family, I agreed to spend money on airport parking (not the shuttle parking, but the “right there” parking). It was expensive, but it was worth it, removing unnecessary stress when catching our flight and also on our return home. Don’t skimp on transportation and parking when you travel, you are already spending money on having fun, don’t let parking and transportation ruin that experience.
We all hit these lessons at different times in our lives. For me it's learning that lesson in my mid-fourties. It's unreal how pervasive that mindset can be in every facet of our lives when you live month to month and then finally, after 25 years of working....break free..
Yes!!! I love this. I did something similar a few years ago - I spent $300 and bought the most expensive winter jacket at LL Bean they had, because I tried it on without looking at the tag and it fit like a GLOVE. I debated not buying it because it was so expensive but I had been shopping for one for so long and it was just perfect. Literally the nicest, most well made, warmest, most versatile jacket I have ever owned, and I live in the North Eastern US. Ever since then I have bought the exact clothes I want - when before I would buy what was in "style" or the best price on the sale rack for the best value. I have saved more money buying the expensive things because I am so happy with the clothes I have, I really don't feel the need to shop. I rarely ever go shopping unless I actually need something. For example, I tried on a Patagonia shirt because I loved the style and it fit perfect, but it was almost $50... but that is the only shirt I bought all summer, as well as a T shirt I bought as a souvenir on vacation. I genuinely love my clothes when I put them on, because I invested in my own wellbeing and quality and HAPPINESS. I'm sure it's different for everyone, but that's what worked for me! My wardrobe has also gotten a lot smaller, so much less stress, more happiness. I buy clothes well made for the season, and that will last. Great video! :)
Nicole I am 55 years old have managed thousands of people through out life and you are the smartest person I think I have ever heard let alone know anyone of your caliber keep on keeping on doing what you are doing thank you for sharing I am sure you have helped a lot of people
“Throughout” is ONE WORD, DUMBBELL!!
BUY SOME PUNCTUATION, DUMBBELL!!!
I came across this on my RUclips feed and really enjoyed listening to you. You sound so sane compared to most people. Thanks for sharing. Jan.
Great insights. The goal shouldn't always be about what is the cheapest, but what offers the most value. Choosing cheap over value can be expensive. Sometimes the cheapest is what a person needs to get by. But if a person can reasonably spend more to get the optimum value, that's probably the better option.
Most of my life I made little money. I finally have a career where I am comfortable. I had a light-bulb moment about a year ago when I noticed that some of the things I was buying were in boxes long after I bought them. That made me rethink the idea that having the money to buy something should not justify its purchase. I am now set with the task of moving much of these things on to a buyer at a fraction of the cost. A hard lesson.
As someone who used to live paycheck to paycheck in their 20s, to someone who transitioned to be super frugal now in my 30s, I struggle a bit with being maybe a bit too frugal at times. It can be hard to strike the right balance. I feel like if you find genuine happiness when you spend the money, then go for it! No point in saving money forever and not live, right? On the other hand, be careful not to walk into the "lifestyle creep" trap by increasing your spending but not reaping in the increased happiness. For example, going out to eat every now and then makes it a fun experience but it looses its charm if you do it every day.
My HS science teacher told us; "Be careful what you own because it will own you." For me, he was implying; Life is about trade-offs.
Oh my! Back in the early 2000's, when personalized mugs were rare, I wrote on my work coffee mug, in permanent marker: I LIKE MY SUGAR WITH COFFEE AND CREAM. I never thought I'd find someone else who knows this exact lyric! 😂❤
Bought exact sane machine 5 years ago and it was the best decision. Never have to go out, wait in line and spend $12 on two cups of latte every morning. Especially convenient on weekends when we can sleep in, make coffee and lounge around for a few hours without leaving the house.
Me too…. I bought mine pre-pandemic using credit card points. The breville and my Tesla are two of my best acquisitions.
While my childhood wasn't as financially restricted as many, I definitely learned to worry and fret about money from my mother. Despite having a good job and walking around with clothes and shoes that are getting quite worn, I will stress about and overanalyze buying a pair of sandals,.yet; don't think twice about buying a latte as the price of enjoying my local coffee shop's garden space.
0:20 not saving 5$ a day. Wow that was a good save, I was ready to take off already.
I did this with a 11:59 bench sander. I toyed with it for months. Buy used buy new will i use it enough. I finally bought a new one on sale with my amazon gift cards from birthday and some cash. It cost me less from my out of pocket. that was a win.
If i don't use it as much as i think,i told my son and grandson they are going to get a nice bench sander when i'am gone. I know it sounds crazy.
Thanks for narrating my scarcity mindset struggles. It's hard for me to spend my surplus money and not feel guilty. I also am guilty of considering other people's spending on non necessities as frivolous.
I read in a book "What is a vice, but a virtue taken too far."
Cucumbers in Dill
That's exactly what I tell people who get on my back when I smoke crack. It's like I only do it on the weekends, people. Sheesh.
Good for you. My wife kept me from from succumbing to my natural frugalness with her more freewheeling attitude but it wasn’t until I retired and I realized I had more funds than I would ever need that I truly loosened up. Even so, I’ve lived with the self-bargaining thought process so long I came to realize I actually enjoy it. Also, Marketplace is fascinating. I enjoy the selling as much as buying, you meet some nice people and make them happy both ways.
I am frugal but not minimalist. After turning 60 over a decade ago, I decided to buy those expensive art materials. I worked for soooo many years and was still working. I deserved a few pleasures in my life and I had given so much to others in my family when they had legitimate needs or emergencies. Being frugal caused me to question this but common sense won. I had the funds. I deserved to spend $ on what added value to my own life. I was and am still frugal in many areas but it is essential to enjoy the perks that are meaningful and valuable in my life. Happy you treated yourself!
I’ve come to relish the good deal on well-built, quality items that I use each day or week.
Regular maintenance, upkeep, and learning how to do it these things myself rounds it out for me.
I was fortunate to be gifted an almost new Breville Infuser espresso machine at the beginning of this summer, and love it. Learning about it has brought me joy and appreciation on several levels - especially of my wonderful friend who could have sold it (she got it for free when she was picking up lamps she bought on FB marketplace) but instead gave it to her friend - me.
Great video and story. Thank you for sharing it with the world!
You get one lap of life. You've gotta live that life. Don't overdo it. Moderation is key.
You GET a lap EVERY SINGLE DAY, Honey!!!
Nothing wrong with cream and sugar in coffee! Here in England it's usually milk but tea originated in Asia where it's often made with milk and spices, so it's really just up to to tastes.
You're quite right about the scarcity mindset, I struggle with it a lot. But this week I threw out several worthless pairs of sandals and bought myself two pairs of leather ones (at a good price *of course*) because I needed them to enjoy walking and look after my feet. Why deprive myself?
I think she said coffee was an excuse for cream and sugar (I didn't go back and check). That is, the end goal was the cream and sugar. The coffee was an ancillary ingredient to justify the sweets.
My excuse is that dark chocolate is a very good source of magnesium (which I need much more than the average bear). If I ate about 12oz. (350g) of of dark chocolate every day, I'd get about as much additional magnesium as I need. I just justified chocolate, while ignoring its side effects.😁
Realised I meant to say nothing wrong with cream and sugar in tea!! What an idiot 😭
When you have a few things you love whole heartedly, you need nothing more!
I switched from 1-2 cans of monster a day to a single cold-brew coffee in the morning. The switch is going to save me at least $600 a year. I made a video on "how to make a potion of speed" if anyone is interest in my coffee recipe! I love your videos Nicole! You were a big inspiration in creating my channel/ Thank you for the great videos.
2 monsters a day is unhinged 😂
@shawnfromportland
Been there, mandatory doubles in health care
you still think this video had anything to do with coffee? WTF.
@@brentlorrilliere6057
Just a tangent thread
For a long time now (relatively speaking, I'm in my early twenties), I've held the mentality of cheaping out first and only if this purchase fails or becomes unsuitable, investing in quality that will last.
An example is having started out with a self-built 3D printer, when that thing died but I wanted to get back in the hobby, I did not have to think hard about investing in a Prusa machine.
Which I do not use as much as I used to use that other machine, but any time I need a custom plastic thing for a project, I enjoy the process of using the machine and being able to trust it.
Similarly, after the fake leather of my old headphones broke, I stretched my budget to pick up some studio headphones that were on a good sale, which to this day are my favourites.
I also did not think hard about spending extra for more durable and repairable headphones for on the go, despite these being more expensive than that aforementioned set I am happy with it as I know they will last for literally decades.
But I have also noticed that some upgrades might be cheaper, from being willing to try out something new or unusual.
Examples are my e-Ink phone and trackball mouse, both of which were cheaper than what they replaced, but I prefer them to such a degree that I do not feel any desire to upgrade to something more expensive or premium.
And currently my PCs are moderately old for how I use them, as I have found that they are still sufficient for the task and as I still enjoy using them.
I do not know how I developed this mindset, but I find that it works well for my current situation, but moving out will be a further test of it.
See the problem with this is I feel I must go out to get my coffee and stay there a few hours to get out of the house. I hate spending the money but at the same time the value I get from this purchase is more than the cost. I also don't ever get phone service but I can get on Wi-Fi for free at these places so in a way it also keeps me from paying for phone service.
I will go out on a limb here but going out for coffee everyday in my situation is a net positive for my finances.
I agree. You’re not paying $5 for coffee. You’re paying $5 for coffee, wifi, and some fresh air- which is a good value (but only if you’re not in debt!)
@@AccordingtoNicole And really it's not even $5 it's $3.45 for a venti size coffee. One in 10 is free too.
Are you me?
Also grew up with the mindset of scarcity.
I like to try new hobbies, but I couldn’t argue with my self that I needed to spend that much money Breville Express
So… I never used to drink coffee, then I saw more and more of James Hoffman videos, and now I’m an experienced Espresso maker and drinker that impresses friends with better than most of the local cafe’s
James Hoffman has done a lot for the coffee drinking world
And you know what? It’s my favorite thing to do, it really heightened my value in life, it’s a fun hobby and I’ve learned a ton and I get a treat every morning
How did you get so smart at such a young age! (or wise, maybe..) I can certainly relate, but am in my 60s and trying not to let money fears rob me of small joys and certain expenditures that bring happiness. After years of the deprivation mindset (ex husband helped with that) I am feeling freer to indulge here and there with as little guilt as possible. Seeing the end of the horizon up close makes it easier, so bravo to you for coming to this awareness so young. Love your videos!
Profound and was like I was listening to old self with the “should I sell, should I enjoy” conundrum. Terrific video.
I listen to music quite often and enjoy it. Most of the time I listen to MP3s off my computer via computer speakers. The speakers I use are nothing special and sound OK. Recently I heard some Bose speakers played through a laptop, and the sound blew me away, but at the time I couldn't justify the $200 price. But then they went on sale for $105, still a little more than what I wanted to spend. But then I convinced myself since i do enjoy listening to music, why deprive myself and miss out on the sound of these speakers. Sold.
Don’t know why this video popped up in my feed but I enjoyed hearing your thoughts. And the way you view money and spending has a lot to do with your upbringing.
Some people were raised as if money was scarce only to find out their parents were borderline rich but frugal and stingy their whole childhood.
Some really didn’t have it in childhood and go crazy when they finally more well off than their parents.
Some are just like you. And some just
Always had everything growing up because their parents could afford it and their family would just give away things when they don’t want it or no longer use it because everything comes so easy. Like famous rich ppl and popular influencers that always get free stuff!
All examples can have and extreme effect on someone in good way or bad way.
Proportionality to a hobby is important. After 50+ years of not making any kind of music, I was inspired to get into the world of MIDI keyboards. Found a well-reviewed one for $109. Been slowly composing little tracks for a couple of months now and still nowhere near running out of new techniques to explore. The old me would have started one or two levels above the model I bought, justifying that I would grow into it. This can potentially waste hundreds, if not thousands of dollars for something you may find you have no talent or deep interest in. It's always best to start small, whether that be a new hobby or opening your first online business or getting an espresso machine. Only level up when the NEED to do so makes it logical choice.
Really, really enjoyed your vid, had no idea where this was going at the start. I’m 64 and very close to retirement, earned good money and I have no debt but living on my pension ( being European ) I’ll have to make do with significantly less. When I look back and reminisce on all the things I did, acquired and the many, many far away travel adventures I lived through I have a deep sense of satisfaction : I did what I did then because I enjoyed doing them at that specific time in my life, now at 64 I don’t have the same longings and have other interests but I’m very glad for having had those “time-specific” enjoyments. Don’t ever spend money you don’t have but do the things you can afford to do.
I can totally relate. Let’s hope the happy middle ground is a wide plateau and not the narrow tightrope that I still struggle with thinking it is.
I bought a cheaper version of this machine and for me the pleasure is saving $7 a day in coffee costs. No need to spend $400 plus to get great coffee. My machine was $200 and I love it, use it twice every day. I am happy you found something to be interested in. Great video . Thank you
Really enjoy your videos, you articulate well the things that a lot of us experience but don't know to put into words and I generally get something from your videos to think about. Keep up the good work.