Great stuff! I especially love going for used tech vs latest and greatest. I would also add that going refurbished is another great option if nothing worthwhile can be found used. This year I finally upgraded my 10-year old TV that was seriously dying. My boss was suggesting I get the latest OLED fancypants 55 inch TV to the tune of over $2k, but I opted for a refurbished 2017-model for about $400 that looks amazing to me (still perhaps a ridiculous purchase by some standards, but I get lots of use out of it and plan to keep it for a long time). I find in the TV market going refurbished is often better than used - when people paid $1000 or even $2000 a couple years ago for a TV, they think it's still worth 80% of that... even though this year's models are often about half that for the same size.
Yasssssssssss this is amazing Michael! I whole heartedly agree. What an epic deal on a TV. That’s such a great suggestion. Thanks so much for sharing that!
Hey Nick Just found your videos while learning about YNAB. Man I love your channel! It is soo down to earth practical and you are a great person. Thank you for doing this!
Thanks for watching :) Glad to hear that you've got those knocked out. And yes, haha, it's probably just wise to stay out of the clearance sections lol
On the home size - Over the past 3.5 years I have gone from a house (rented) to a 3 BR apartment to a 2 BR apartment to a 1 BR apartment to a small studio. On each move I purge and now...even in only 350 sq ft - I have never been happier! Like you said, figure out what is important to YOU. For me, it's city living and going back to school to change careers. It's not "a lot of living space." So, give up one for the other. Love your channel!!
Love it Nancy! That's so awesome. I'm glad you've been able to find a size that works and fits you. I love that you've nailed down what values matter most. Thanks so much for the comment :)
Nick I have a Xiaomi fitness tracker on me and swears by it. Not for fitness but to help my sanity. Here's how: - I wake up with my fitness tracker vibration. - get notified of calls and messages from the tracker - get only important phone updates from the tracker. - get only important reminders and calendar events from the tracker And most importantly I mute everything that's on my phone. It helps tremendously. Fitness wise.. nah...
That's awesome TJ! Sounds like it really works for you. I wish I could wake up with a simple vibration lol. And getting the updates on the tracker does sound useful. Thanks for sharing!
Just found you on YT and am binge watching your videos. I truly don’t ever comment on YT vids but I just had to this time. Re buying refurbished- bought a refurb iPhone about 5 years ago because I wanted to save money. Well, it wouldn’t turn on about a year in. Went to the retailer and he gave me the run around and finally told me to call his insurance person myself. Long story short, I spent hours of my time on the phone and online and got nothing. Ended up buying a new one and will never ever buy refurbs for anything ever again. Not to sound snarky but really, my time is more valuable.
Great video. You may want to include paying for storage of stuff as a high unnecessary expense and trying to reduce costs for infrequent suburban items like chainsaws and plumbing snakes by sharing with neighbors. Tools like Nextdoor can help with bartering and borrowing (e.g. a kind neighbor let us use their wheelchair ramp for a day to host relatives).
I had a one bedroom that had an open kitchen, dining, and living room. I could totally have more people over than my brother with a very sectioned out cape with at least 1500 more sf. Plus, you can be getting stuff ready in the kitchen and still be part of the party!
Hahaha, I LOVE you calling out people on saying they will have room for "entertaining"...this has ALWAYS been my thought when seeing these shows....like who are all these party throwing people??
haha, glad you liked it Andrew! I've always felt the same way :) I actually grew up with parents who legitimately threw parties a lot. But now that they're a little older and kids are gone, they're looking to downsize. They don't have huge groups anymore. But it's rare. Most people don't have people over nearly as much as they think/say they will. Just don't kid yourself ya know lol Thanks for watching!
@@mappedoutmoney Subscribed! Just found you yesterday, love your stuff so far. I've been on ynab for 4 years or so, good to see some different perspectives on how to use it and I'll certainly be attempting the profit first planning for my side hustle stuff for 2020!
@@AyWoe Thanks man! Glad you're enjoying the videos and finding them helpful. Definitely give profit first a look. It's a great system and I think will help a ton.
Just stumbled on your vids from YNAB. Really enjoy watching them! Love that first quote, "the price of things is the amount of life you exchange for it". Reminds me of a quote another RUclipsr mentioned Ali Abdaal (on the which ipad should you buy vid). Extended warranties are an even bigger deal in Australia. In Australia, under the Australian Consumer Law when we buy goods and/or services are goods/services come with certain guarantees (such as acceptable quality etc...), often times suppliers will try upsell you "extended warranties" that aren't always needed.
Thanks Cruz! I totally agree that you have to be careful about those extended warranties. I'm really glad that you enjoyed the video and found it helpful!
Awesome tips! I am soooo guilty of shopping the clearance section looking for a “good deal”! I’m going to start taking a step back and asking myself if I would be just as excited for the product if it was full price.
Thanks Kelly! I really appreciate you stopping by. It's definitely easy to get suckered into a good deal. Excited to hear what sort of purchases that question saves you from making :)
Hey Nick. I am really liking your videos. I am in a job that I do enjoy and is quite well paid but I still only spend about 35% to 40% of my income on my mortgage and living costs. This allows me to invest and make extra payments to my mortgage when I want. I expect to be mortgage free in 7 years after paying for the last 4 years. I think too many people live well above their means and leave no room for investing. Keep it simple, live minimal and enjoy the great outdoors.
Awesome John! Glad to hear you're in a job that you like and get paid well. Great job on everything and crushing that mortgage my friend. I totally agree about keeping it simple. Thanks for sharing!
I generally agree with your assessment of smart watches. A few caveats (1) for those who deal with chronic heart conditions is that the Apple Watch's ECG feature is quite literally a life saver and (2) fall detection for the elderly.
Totally agree Chris, there's definitely some really important use cases for smart watches. My point was simply don't let it trick you into making you think you're working out harder than you actually are - and then end up overeating. But you're spot on about the other amazing benefits some of them have.
I do own a fitness tracker, but I ignore the badges (I work in the game development industry, so I know when something is being gamified). I use it mostly for my resting heart rate, water, and my sleep tracking, but I'm switching to a much much cheaper Xiaomi band when this Fitbit dies. Oh, I also don't understand the big home obsession. They're so hard to clean! And yes, you are right. We don't entertain guests because we're an introvert couple. LOL. Love that you guys consider buying pre-loved items, because this is better for the environment in the long run.
my fitbit was (i lost it due to the standard strap not being as durable as i needed) was a gift from the job as a way to get us healthier. i joined the challenge and we motivated each other towards our daily goals. i think buying one just to keep up with the joneses or because it is a new piece of tech and you are a techie, it is nearly wasted. i feel there needs to be purpose. here on buying what you need and covering those basis before you add on. no warranty yet. i had one that came with the home in the first year and that worked but i started to get my emergency fund up. if you don't have it and you just bought a home (espcially your first and you're not handy i.e., me), i find it useful. i am saving for an ev. hello as i drive past the pump. my boyfriend upgrades every year. i am like so unnecessary
I totally understand Sohna! It’s really easy to fall into the upgrade trap. I’m glad to hear you’ve got the right mindset with things though. I appreciate you watching and commenting!
I buy preowned clothing and shoes for myself and my kiddo. There are tons of websites out there where you can get clothes with tags still attached for a fraction of new clothes, and it doesn't add to the waste of the clothing industry. I also have a 1 in, 1 out policy on everything. If I buy new shoes, I have to get rid of a pair. That helps me avoid unnecessary purchases and prevents clutter in my little house.
great reminders! i got my phone for free when a friend upgraded hers and it came with a great case! and we have had great gatherings at our home and it's under 1400 sq ft. plus good info on warranties, i have fallen into that trap before.....
Thanks Kari! Glad you liked it :) That's awesome about your phone! What a great deal. And yes, I've DEFINITELY fallen into the warranty trap myself :( No fun. I also agree with your home. 1400 sq ft is a great size! We used to have a 1200 sq ft. apartment and would have groups of 12-15 people over very easily.
Amazing, as always. A few of these stung...I am not going to lie. But it gave me an opportunity to look at my past purchasing decisions and realize how little I really needed them. My fitbit for example. I bought one for my husband who was getting big into running. Plus, he needed a watch and a timer for his job. It was a gift and it's served him well! But then I NEEDED one too! lol! Well, needless to say, after a year or so, I don't use it anymore at all. It annoys me, isn't comfortable, and I really could care less about how many steps I have taken. Anyways, keep up the great work! I enjoy watching your videos so keep em coming!
Hey Carli! Thanks so much for the response. I totally know the pain. It sucks when you realize that, but the good news is that you can change it going forward! I'm glad you enjoyed the video and that it made you think :) And like you... I also don't care about how many steps I've taken! haha
I am in full agreement with almost all of these items. In fact, I live by them. My home is not that big or fancy and I am even looking at going smaller. All of my electronic gadgets are much older and I have no subscription services. The one thing I do have and use religiously is my Garmin fitness tracker. I don't use it as a reward but as a reminder. It motivates me to get up and get moving when I am having one of those lazy days.
Glad to hear that you've got all these down! And hey, if you use your Garmin fitness tracker and it legitimately motivates you then great! Those stats definitely don't apply to everyone, so I'm glad that the watches work really well for you. Thanks for watching as always :)
1. I think fitness trackers are great for people who are already in shape and looking to do things like improve their running time or something else specific that a tracker can help measure. I'm getting into running and I want one now so I can track my heart rate! 2. Clearance sections are my favorite D: In retail stores, I shop the clearance first. At the grocery store, the clearance section is where I find junk food I can enjoy. Otherwise I don't normally buy junk food. Usually the stuff on sale is something trendy that the store overpurchased, so I get to try it out a discount. I did have to train myself to stop buying things just because they were on sale. I did that a lot when I was younger.
You and more and more people are learning that things do not make a life happy. Once you have the minimum to live comfortably, A roof over your head whether an RV, tiny home, regular sticks and bricks, food, basic clothing as needed for whatever area and activities you do, transportation and then health. If you have those things knocked out. Everything else is just icing on the cake ( or as I like it Gravy on pancakes). Relationships with family, friends, and just making new friends and helping others is what keeps you involved in well .. living.... instead of just existing...it is that which provides the best sense of well being and happiness or contentedness. My wife and I have always lived below our means and even though now we make plenty of money to do whatever we want, when we started out we made less than 19,000 a year. But we always had money in the bank and when we could we started investing that "leftover" to grow for our future wants. Notice I said wants, not needs because we have no NEEDS anymore and like you have said in other videos, be adverse to debt. If we can't write a check or cover the cost of something out of pocket- it ain't happening! As a result of not buying into the rampant consumerism that has taken many people hostage and is ruining lives, we spend our time traveling around the world, going out to hang with friends, game nights, cookouts, concerts... whatever it is we like. Our discretionary monthly spending would make some people sick I am sure, but the point is just about everyone can get there. I wish more people would wake up to that and it's videos like yours that I hope helps people realize what is possible. Cheers to you and your wife. Perhaps we will cross paths some day. :)
Bob Moore love this Bob! You’re totally right. It’s the people that we surround ourselves with that matter, not the stuff. Thanks so much for watching and congrats to you and your wife. That’s awesome man. I really appreciate you talk the time to write a really thoughtful comment. It means a ton.
A warranty is LITERALLY an insurance policy. The feasibility of a warranty depends on the cost of replacement of the item. If you don't end up using the warranty, of course it feels like a waste. But if you do use it, it CAN BE well worth it. I wouldn't dismiss warranties with "self insure" advice when the price of a warranty is often vastly lower than the cost of replacement.
haha what a small world! I'm from Cleveland TN just outside Chatt, and went to school in Chatt. I LOVE it there. Definitely miss it sometimes. Glad to find another person who loves that city :)
I would love to buy used tech, the major problem i have is that older tech quickly falls off of the support bandwagon and is left as a security vulnerability. In my experience this is especially true of re-branded Android phones like Samsung Galaxy. After the phone is two years old they just don't give updates and the threat landscape out there puts smartphones as high targets.
As a nurse having a smart watch is super useful, but my experience isn't everyone's. Messy gloves make seeing if a message is important (staff communicates by text a lot) a lot harder without one. Plus it reminds me to drink water!
That makes good sense to me! I can totally see how it would be extremely helpful in that case. As with all things, your mileage may vary. Appreciate you sharing that Kate, I think that's a great application for them!
I think another one of the unnecessary items I see a lot among my friends is internet speed, especially in areas with older infrastructure that is till on copper lines.
I know this video is pretty old...but I will say that my experience with Garmin's smartwatches over Fitbit and Apple has been drastically different. There are far fewer participation trophies, and I've found that the graphs and data that it provides for me over a period of time encourage me to either keep myself consistent with hours of sleep, distance ran, or time per mile, rather than just adding up all of the numbers for a ridiculously pointless number like Fitbit and Apple do for a lot of theirs. That, and my first Garmin lasted me 7 years, and only cost $60...I'm expecting my Instinct I bought 3 months ago to last me nearly a decade, if not longer.
Great tips! You lost me though on choosing Netflix or Hulu...nope, gotta have both! 😂 However, I am very close to cancelling Prime. Something I'm currently re-evaluating as my subscription is up next month.
haha! We all have our priorities :) Just as long as you're thinking it through, go for it lol Glad to hear that you're at least considering canceling prime. That's a big step and no matter what you choose, I'm glad you're thinking it through. Thanks for watching!
There is so much more to a smart watch then fitness tracking. They are a really effective tool and can greatly improve someone’s quality of life. As someone who has ADHD, time blindness and executive dysfunction a smart watch is imperative for me. I use it to set alarms and repeating timers - (I ♥️ focus timer. It uses the pomodoro method and syncs perfectly with my watch.) Being able to quickly see notifications on my wrist allows me to act in important things straight away, (or ignore things which aren’t timely) is game changing. I set reminders on it and get calendar alerts. I can instantly see who is calling or messaging so I can decide if I want to interrupt a hyper focus to answer. When I’m at work I can see if my kids are trying to contact me or if I’m getting a call from their school. The sleep tracking on it it is super important for me to access my overall coping. I know when my sleep quality is slipping that I need to utilise more regulation tools and that I will need to be more aware of any cognitive dissonance. And it finds my phone for me when I lose it for the millionth time a day. I use a Garmin Venu because I only have to charge it once every five days or so. It doesn’t distract me with multiple apps and it has fantastic timer functions. The notifications on it are perfect. It also tracks my stress and heart rate which is important for me as I take stimulant meds. It’s also waterproof which means I don’t have to remember to take it off. A smart watch can be a pivotal and vital tool that is recommended to many who are neurodivergent. Definitely something worth investing in. Having said all that, your content is really helping me feel more financially empowered! Thank you so much 🙏🏻
Loved this video...until you mentioned that it was filmed and edited on a used (I’m sorry, preowned) camera and iMac. Then I realized that the video and audio production quality was subpar. Said no one, ever. 👍
I always agonize over extended warranties! We bought one for our fancy refrigerator because the damned thing cost so much and repairs really do cost big $. Long story short, the warranty company couldn’t fix it and ended up refunding us all our money. We then found a local repairman who fixed it. We used the money we got from the warranty company to buy a new dishwasher. The repair costs about the same as the warranty. So yeah, they are a gamble. I think it’s best to have an emergency fund.
Hey Sonia! I'm definitely a believer in having some sort of health insurance, especially if your'e in the US. Medical costs are just too much to do without. We use a health sharing company called Medishare, but there are plenty of other options out there.
Extensive warranties have save me a bucket load of money. I've got a teenage boy who consumes gaming equipment such as headsets, mouse and keyboards, It's all made of fragile plastic and he's been too rough. Anyway, in our case, extensive warranties has really paid off. I don't buy it for other stuff.
The best is when they try and get you to buy warranties on like a $20-$60 game. I'm like if this game cartridge breaks it means I probably played it too much and needed to stop playing anyway. I'm with you on the subscription services. I cancelled prime last year b/c it was so expensive but I go back and forth if it's worth it...but the thing is without it I tend not to buy so much off amazon so maybe that is better? Hmmm
Haha I know right?? The warranties are crazy. And yes. I definitely think amazon knows you buy more if you have prime. That’s part of the strategy. I’d love to see how much money people would save if they didn’t have free shipping all the time :) Thanks for watching Beth!
Dont want to sound like I just came out of the woods but I have heard about Ebay but k ow nothing about it. When you buy things on it, do they offer warranties, especially on electronic items?
If I hypothetically had approximately 1k of discretionary income after all expenses paid each month That 1k would require 1 month of my life force spent working 173.33hrs of work time. (2080 full time hours/ 12) If you take that same $1000.00 of monthly discretionary income and divide it by the 173.33/work hours. Your actual true hourly rate provides you $5.77 dollars per hour of money you can have true choice over. This is of course assuming you are being as reasonable as possible with your living expenses...
If you find pt 4 interesting, loss aversion is a fascinating topic on human psychology and behavioural economics. Check out the work by Daniel Kahneman "Thinking Fast and Slow" for more.
Great video! Thanks! What do you think of credit monitoring services? My husband's identity got stolen when he was in college and so every few years, he'll get scammers opening accounts in his name.
Hey Olivia! Good question. It depends on how much $ they are and the what service does. Unfortunately a lot of credit monitoring services don't pack a lot of value for their price. I haven't had my identity stolen before, so I'm sure it's more important if you have. But my free setup works really well. - I use the free version of credit sesame, and they're really good at sending emails when new accounts get opened - Plus everyone is entitled to a free credit report once each year from each of the three big companies (experian, Transunion, and equifax). I have a calendar appointment to get one of these reports every four months for both my wife and I. Then I can quickly skim it and make sure nothing seems out of the ordinary. Here's the link for that: www.annualcreditreport.com/index.action Hope that helps :)
Thanks Nick! I had my husband end his subscription to the credit monitoring service but was starting to wonder if it was a good idea or not. Will look into your suggestions. Thanks again!
haha, as long as you don't use it as a false reward system, you should be good!! :) I do like the ones that track certain things. Biggest thing is stay realistic about what you're doing! :) Thanks for watching!
Garmin is just rolling out their updated fitness watches right now. Which means sales on previous model close-outs. Perhaps you can score one of these or a replaced one on eBay that's "good enough" for your needs?
I don't buy new clothes, prime or any other subscription, toilet paper, paper towels, zip bags, tinfoil, plastic wrap, cleaning products, laundry soap, dryer sheets or hygiene products. Everything is used, reusable or DIY. Subscription are not mine. Expenses include actual necessity like food, gas, utilities and DIY ingredients like baking soda and vinegar. I am about to buy a push mower and cord for a clothes line.
"These people don't entertain", they also don't use the professional chef quality kitchen (except to microwave a TV dinner) The more likely drive through McDonald's
I know, right? My mom loves all those shows and every single time I watch it's all about "entertaining." I look across my entire friend and family circle and can't see anyone "entertaining" - esp on a regular basis. Wonder if the shows tell them to say that? :)
Great stuff! I especially love going for used tech vs latest and greatest. I would also add that going refurbished is another great option if nothing worthwhile can be found used. This year I finally upgraded my 10-year old TV that was seriously dying. My boss was suggesting I get the latest OLED fancypants 55 inch TV to the tune of over $2k, but I opted for a refurbished 2017-model for about $400 that looks amazing to me (still perhaps a ridiculous purchase by some standards, but I get lots of use out of it and plan to keep it for a long time). I find in the TV market going refurbished is often better than used - when people paid $1000 or even $2000 a couple years ago for a TV, they think it's still worth 80% of that... even though this year's models are often about half that for the same size.
Yasssssssssss this is amazing Michael! I whole heartedly agree. What an epic deal on a TV. That’s such a great suggestion.
Thanks so much for sharing that!
Hey Nick
Just found your videos while learning about YNAB. Man I love your channel! It is soo down to earth practical and you are a great person. Thank you for doing this!
Hey Artur! Thanks so much for that. I super appreciate the kind words. That means a ton. Glad you're enjoying the videos!
Great reminders for sure! We never get warranties, have a small house, and stay out of stores clearance sections!
Thanks for watching :) Glad to hear that you've got those knocked out. And yes, haha, it's probably just wise to stay out of the clearance sections lol
On the home size - Over the past 3.5 years I have gone from a house (rented) to a 3 BR apartment to a 2 BR apartment to a 1 BR apartment to a small studio. On each move I purge and now...even in only 350 sq ft - I have never been happier! Like you said, figure out what is important to YOU. For me, it's city living and going back to school to change careers. It's not "a lot of living space." So, give up one for the other. Love your channel!!
Love it Nancy! That's so awesome. I'm glad you've been able to find a size that works and fits you. I love that you've nailed down what values matter most.
Thanks so much for the comment :)
Nick I have a Xiaomi fitness tracker on me and swears by it. Not for fitness but to help my sanity.
Here's how:
- I wake up with my fitness tracker vibration.
- get notified of calls and messages from the tracker
- get only important phone updates from the tracker.
- get only important reminders and calendar events from the tracker
And most importantly I mute everything that's on my phone. It helps tremendously.
Fitness wise.. nah...
That's awesome TJ! Sounds like it really works for you. I wish I could wake up with a simple vibration lol. And getting the updates on the tracker does sound useful. Thanks for sharing!
Everything I've seen from you so far is great. Keep up the great videos for the sake of us all.
Just found you on YT and am binge watching your videos. I truly don’t ever comment on YT vids but I just had to this time. Re buying refurbished- bought a refurb iPhone about 5 years ago because I wanted to save money. Well, it wouldn’t turn on about a year in. Went to the retailer and he gave me the run around and finally told me to call his insurance person myself. Long story short, I spent hours of my time on the phone and online and got nothing. Ended up buying a new one and will never ever buy refurbs for anything ever again. Not to sound snarky but really, my time is more valuable.
Great video. You may want to include paying for storage of stuff as a high unnecessary expense and trying to reduce costs for infrequent suburban items like chainsaws and plumbing snakes by sharing with neighbors. Tools like Nextdoor can help with bartering and borrowing (e.g. a kind neighbor let us use their wheelchair ramp for a day to host relatives).
Great tip Andrew. Appreciate it
I had a one bedroom that had an open kitchen, dining, and living room. I could totally have more people over than my brother with a very sectioned out cape with at least 1500 more sf. Plus, you can be getting stuff ready in the kitchen and still be part of the party!
Hahaha, I LOVE you calling out people on saying they will have room for "entertaining"...this has ALWAYS been my thought when seeing these shows....like who are all these party throwing people??
haha, glad you liked it Andrew! I've always felt the same way :)
I actually grew up with parents who legitimately threw parties a lot. But now that they're a little older and kids are gone, they're looking to downsize. They don't have huge groups anymore. But it's rare. Most people don't have people over nearly as much as they think/say they will.
Just don't kid yourself ya know lol
Thanks for watching!
@@mappedoutmoney Subscribed! Just found you yesterday, love your stuff so far. I've been on ynab for 4 years or so, good to see some different perspectives on how to use it and I'll certainly be attempting the profit first planning for my side hustle stuff for 2020!
@@AyWoe Thanks man! Glad you're enjoying the videos and finding them helpful. Definitely give profit first a look. It's a great system and I think will help a ton.
I don’t buy face/wrinkle cream anymore. I just go to Sephora or ulta or Department stores and ask for samples!
haha, that's one way to do it Marissa! lol :)
Just stumbled on your vids from YNAB. Really enjoy watching them! Love that first quote, "the price of things is the amount of life you exchange for it". Reminds me of a quote another RUclipsr mentioned Ali Abdaal (on the which ipad should you buy vid). Extended warranties are an even bigger deal in Australia. In Australia, under the Australian Consumer Law when we buy goods and/or services are goods/services come with certain guarantees (such as acceptable quality etc...), often times suppliers will try upsell you "extended warranties" that aren't always needed.
Thanks Cruz! I totally agree that you have to be careful about those extended warranties. I'm really glad that you enjoyed the video and found it helpful!
A really great phrase about subscriptions: you are not thinking of spending the money the moment you actually spend these money. Good point!
Awesome tips! I am soooo guilty of shopping the clearance section looking for a “good deal”! I’m going to start taking a step back and asking myself if I would be just as excited for the product if it was full price.
Thanks Kelly! I really appreciate you stopping by. It's definitely easy to get suckered into a good deal. Excited to hear what sort of purchases that question saves you from making :)
Starting with a Thoreau quote is ALWAYS a good idea! Love it
haha, thanks Mike! Glad you appreciated that :)
Hey Nick. I am really liking your videos. I am in a job that I do enjoy and is quite well paid but I still only spend about 35% to 40% of my income on my mortgage and living costs. This allows me to invest and make extra payments to my mortgage when I want. I expect to be mortgage free in 7 years after paying for the last 4 years. I think too many people live well above their means and leave no room for investing. Keep it simple, live minimal and enjoy the great outdoors.
Awesome John! Glad to hear you're in a job that you like and get paid well. Great job on everything and crushing that mortgage my friend. I totally agree about keeping it simple.
Thanks for sharing!
You deserve more subscribers Nick. Your channel is awesome! 👏🏻👏🏻👏🏻
Haha thanks Dean!! I really appreciate that man. Glad to know that you’re enjoying it and find it valuable!
I generally agree with your assessment of smart watches. A few caveats (1) for those who deal with chronic heart conditions is that the Apple Watch's ECG feature is quite literally a life saver and (2) fall detection for the elderly.
Totally agree Chris, there's definitely some really important use cases for smart watches. My point was simply don't let it trick you into making you think you're working out harder than you actually are - and then end up overeating. But you're spot on about the other amazing benefits some of them have.
I do own a fitness tracker, but I ignore the badges (I work in the game development industry, so I know when something is being gamified). I use it mostly for my resting heart rate, water, and my sleep tracking, but I'm switching to a much much cheaper Xiaomi band when this Fitbit dies. Oh, I also don't understand the big home obsession. They're so hard to clean! And yes, you are right. We don't entertain guests because we're an introvert couple. LOL. Love that you guys consider buying pre-loved items, because this is better for the environment in the long run.
my fitbit was (i lost it due to the standard strap not being as durable as i needed) was a gift from the job as a way to get us healthier. i joined the challenge and we motivated each other towards our daily goals. i think buying one just to keep up with the joneses or because it is a new piece of tech and you are a techie, it is nearly wasted. i feel there needs to be purpose. here on buying what you need and covering those basis before you add on. no warranty yet. i had one that came with the home in the first year and that worked but i started to get my emergency fund up. if you don't have it and you just bought a home (espcially your first and you're not handy i.e., me), i find it useful. i am saving for an ev. hello as i drive past the pump. my boyfriend upgrades every year. i am like so unnecessary
he justifies it by saying it is a free upgrade. oh to have a family plan...
I totally understand Sohna! It’s really easy to fall into the upgrade trap.
I’m glad to hear you’ve got the right mindset with things though.
I appreciate you watching and commenting!
Thank you. Keep informing the people
@@Harzeezreport Will do :) Thanks for the encouragement!
@@mappedoutmoney no problem
I buy preowned clothing and shoes for myself and my kiddo. There are tons of websites out there where you can get clothes with tags still attached for a fraction of new clothes, and it doesn't add to the waste of the clothing industry. I also have a 1 in, 1 out policy on everything. If I buy new shoes, I have to get rid of a pair. That helps me avoid unnecessary purchases and prevents clutter in my little house.
You are so right about warranties! Especially since Magnussan Moss Act is free
Totally! They'll get you if you aren't careful.
Thanks for watching Marissa! :)
great reminders! i got my phone for free when a friend upgraded hers and it came with a great case! and we have had great gatherings at our home and it's under 1400 sq ft. plus good info on warranties, i have fallen into that trap before.....
Thanks Kari! Glad you liked it :)
That's awesome about your phone! What a great deal. And yes, I've DEFINITELY fallen into the warranty trap myself :( No fun. I also agree with your home. 1400 sq ft is a great size! We used to have a 1200 sq ft. apartment and would have groups of 12-15 people over very easily.
Amazing, as always. A few of these stung...I am not going to lie. But it gave me an opportunity to look at my past purchasing decisions and realize how little I really needed them. My fitbit for example. I bought one for my husband who was getting big into running. Plus, he needed a watch and a timer for his job. It was a gift and it's served him well! But then I NEEDED one too! lol! Well, needless to say, after a year or so, I don't use it anymore at all. It annoys me, isn't comfortable, and I really could care less about how many steps I have taken.
Anyways, keep up the great work! I enjoy watching your videos so keep em coming!
Hey Carli! Thanks so much for the response. I totally know the pain. It sucks when you realize that, but the good news is that you can change it going forward! I'm glad you enjoyed the video and that it made you think :)
And like you... I also don't care about how many steps I've taken! haha
I am in full agreement with almost all of these items. In fact, I live by them. My home is not that big or fancy and I am even looking at going smaller. All of my electronic gadgets are much older and I have no subscription services. The one thing I do have and use religiously is my Garmin fitness tracker. I don't use it as a reward but as a reminder. It motivates me to get up and get moving when I am having one of those lazy days.
Glad to hear that you've got all these down! And hey, if you use your Garmin fitness tracker and it legitimately motivates you then great! Those stats definitely don't apply to everyone, so I'm glad that the watches work really well for you.
Thanks for watching as always :)
1. I think fitness trackers are great for people who are already in shape and looking to do things like improve their running time or something else specific that a tracker can help measure. I'm getting into running and I want one now so I can track my heart rate!
2. Clearance sections are my favorite D: In retail stores, I shop the clearance first. At the grocery store, the clearance section is where I find junk food I can enjoy. Otherwise I don't normally buy junk food. Usually the stuff on sale is something trendy that the store overpurchased, so I get to try it out a discount. I did have to train myself to stop buying things just because they were on sale. I did that a lot when I was younger.
I loved your suggestions! Big house obsession, having the latest technology, and buying snacks unnecessary. I will give it a shot.
Awesome Veena! So glad you found the video helpful. Good luck and thanks for watching :)
You and more and more people are learning that things do not make a life happy. Once you have the minimum to live comfortably, A roof over your head whether an RV, tiny home, regular sticks and bricks, food, basic clothing as needed for whatever area and activities you do, transportation and then health. If you have those things knocked out. Everything else is just icing on the cake ( or as I like it Gravy on pancakes). Relationships with family, friends, and just making new friends and helping others is what keeps you involved in well .. living.... instead of just existing...it is that which provides the best sense of well being and happiness or contentedness. My wife and I have always lived below our means and even though now we make plenty of money to do whatever we want, when we started out we made less than 19,000 a year. But we always had money in the bank and when we could we started investing that "leftover" to grow for our future wants. Notice I said wants, not needs because we have no NEEDS anymore and like you have said in other videos, be adverse to debt. If we can't write a check or cover the cost of something out of pocket- it ain't happening! As a result of not buying into the rampant consumerism that has taken many people hostage and is ruining lives, we spend our time traveling around the world, going out to hang with friends, game nights, cookouts, concerts... whatever it is we like. Our discretionary monthly spending would make some people sick I am sure, but the point is just about everyone can get there. I wish more people would wake up to that and it's videos like yours that I hope helps people realize what is possible. Cheers to you and your wife. Perhaps we will cross paths some day. :)
Bob Moore love this Bob! You’re totally right. It’s the people that we surround ourselves with that matter, not the stuff.
Thanks so much for watching and congrats to you and your wife. That’s awesome man.
I really appreciate you talk the time to write a really thoughtful comment. It means a ton.
A warranty is LITERALLY an insurance policy. The feasibility of a warranty depends on the cost of replacement of the item. If you don't end up using the warranty, of course it feels like a waste. But if you do use it, it CAN BE well worth it. I wouldn't dismiss warranties with "self insure" advice when the price of a warranty is often vastly lower than the cost of replacement.
I agree! I’m guilty of a few of these things and man you’re right!
Hello. Great video, I love your unique thoughtful approach to money. Where did you get the mock HGTV video, that is very funny
Great video. I'm guilty of buying clearance clothing only to donate it years later with the tags still attached.
Totally understand that, I think the majority are guilty of doing that at one point or another :) I've been there my friend.
Thank you for these tips!!!
No problem! Glad you enjoyed the video Marco!
Love the Chattanooga hat! Repping my hometown!
haha what a small world! I'm from Cleveland TN just outside Chatt, and went to school in Chatt. I LOVE it there. Definitely miss it sometimes.
Glad to find another person who loves that city :)
Yay for fellow Tennesseans!
awwwww yeahhhhh. Love me some Tennessee :)
I would love to buy used tech, the major problem i have is that older tech quickly falls off of the support bandwagon and is left as a security vulnerability. In my experience this is especially true of re-branded Android phones like Samsung Galaxy. After the phone is two years old they just don't give updates and the threat landscape out there puts smartphones as high targets.
Great job Nick, my motto is it's easy to go broke saving!
Haha yes it most certainly is my friend!! Lol
BRilliant video. I stopped buying Swiss watches and designer clothes.
As a nurse having a smart watch is super useful, but my experience isn't everyone's. Messy gloves make seeing if a message is important (staff communicates by text a lot) a lot harder without one. Plus it reminds me to drink water!
That makes good sense to me! I can totally see how it would be extremely helpful in that case. As with all things, your mileage may vary. Appreciate you sharing that Kate, I think that's a great application for them!
All good advices. tHnks
Hey, thanks for watching!
Great vid Nick! Solid reminders. As for me, still repping the slider. ;)
awwwwwww yeahhhhh. Gotta love the slider. Keeping it frugal my dude lol.
Wait until you come across the dreaded subscription warranty that BestBuy peddles.
I think another one of the unnecessary items I see a lot among my friends is internet speed, especially in areas with older infrastructure that is till on copper lines.
I know this video is pretty old...but I will say that my experience with Garmin's smartwatches over Fitbit and Apple has been drastically different. There are far fewer participation trophies, and I've found that the graphs and data that it provides for me over a period of time encourage me to either keep myself consistent with hours of sleep, distance ran, or time per mile, rather than just adding up all of the numbers for a ridiculously pointless number like Fitbit and Apple do for a lot of theirs.
That, and my first Garmin lasted me 7 years, and only cost $60...I'm expecting my Instinct I bought 3 months ago to last me nearly a decade, if not longer.
Great video man!
Thanks dude! I really appreciate you taking the time to watch.
Great tips! You lost me though on choosing Netflix or Hulu...nope, gotta have both! 😂 However, I am very close to cancelling Prime. Something I'm currently re-evaluating as my subscription is up next month.
haha! We all have our priorities :) Just as long as you're thinking it through, go for it lol
Glad to hear that you're at least considering canceling prime. That's a big step and no matter what you choose, I'm glad you're thinking it through.
Thanks for watching!
There is so much more to a smart watch then fitness tracking. They are a really effective tool and can greatly improve someone’s quality of life.
As someone who has ADHD, time blindness and executive dysfunction a smart watch is imperative for me. I use it to set alarms and repeating timers - (I ♥️ focus timer. It uses the pomodoro method and syncs perfectly with my watch.)
Being able to quickly see notifications on my wrist allows me to act in important things straight away, (or ignore things which aren’t timely) is game changing. I set reminders on it and get calendar alerts.
I can instantly see who is calling or messaging so I can decide if I want to interrupt a hyper focus to answer. When I’m at work I can see if my kids are trying to contact me or if I’m getting a call from their school.
The sleep tracking on it it is super important for me to access my overall coping. I know when my sleep quality is slipping that I need to utilise more regulation tools and that I will need to be more aware of any cognitive dissonance.
And it finds my phone for me when I lose it for the millionth time a day.
I use a Garmin Venu because I only have to charge it once every five days or so. It doesn’t distract me with multiple apps and it has fantastic timer functions. The notifications on it are perfect.
It also tracks my stress and heart rate which is important for me as I take stimulant meds. It’s also waterproof which means I don’t have to remember to take it off.
A smart watch can be a pivotal and vital tool that is recommended to many who are neurodivergent. Definitely something worth investing in.
Having said all that, your content is really helping me feel more financially empowered! Thank you so much 🙏🏻
He talking about the general public
I quit buying new clothing at stores, I buy new with tags at thrift stores, same with shoes. I buy most things Ebay or Thrift stores
Loved this video...until you mentioned that it was filmed and edited on a used (I’m sorry, preowned) camera and iMac. Then I realized that the video and audio production quality was subpar. Said no one, ever. 👍
haha! Loved this B Littell. I literally lol'd there when I realized where this was going. I appreciate you watching and for the nice comment :)
Very wise. Ego is the root of all evil 😈
Any furniture that doesn't last a lifetime. Basically i aim for stainless steel if possible.
I always agonize over extended warranties! We bought one for our fancy refrigerator because the damned thing cost so much and repairs really do cost big $. Long story short, the warranty company couldn’t fix it and ended up refunding us all our money. We then found a local repairman who fixed it. We used the money we got from the warranty company to buy a new dishwasher. The repair costs about the same as the warranty. So yeah, they are a gamble. I think it’s best to have an emergency fund.
how do you feel . about health insurance? should you self-pay?
Hey Sonia! I'm definitely a believer in having some sort of health insurance, especially if your'e in the US. Medical costs are just too much to do without. We use a health sharing company called Medishare, but there are plenty of other options out there.
Is it worth buying a bidet, to save on TP? 😁
Hahaha id love you see the numbers. I’m sure you’d save some money, especially right now!
Once you buy a bidet you can never use a non-bidet toilet again LOL
Extensive warranties have save me a bucket load of money. I've got a teenage boy who consumes gaming equipment such as headsets, mouse and keyboards, It's all made of fragile plastic and he's been too rough. Anyway, in our case, extensive warranties has really paid off. I don't buy it for other stuff.
The best is when they try and get you to buy warranties on like a $20-$60 game. I'm like if this game cartridge breaks it means I probably played it too much and needed to stop playing anyway.
I'm with you on the subscription services. I cancelled prime last year b/c it was so expensive but I go back and forth if it's worth it...but the thing is without it I tend not to buy so much off amazon so maybe that is better? Hmmm
Haha I know right?? The warranties are crazy.
And yes. I definitely think amazon knows you buy more if you have prime. That’s part of the strategy. I’d love to see how much money people would save if they didn’t have free shipping all the time :)
Thanks for watching Beth!
Dont want to sound like I just came out of the woods but I have heard about Ebay but k ow nothing about it. When you buy things on it, do they offer warranties, especially on electronic items?
Hey! Good question, yes they do sometimes. Especially third party warranties. They offer them everywhere haha.
Non negotiable for me;
Netflix
Amazon Prime
Amazon Kindle
The rest I could do without
haha I get it! We all have our priorities :) We hang onto Netflix as well. And prime wooo, it's tough to drop. So convenient!
If I hypothetically had approximately 1k of discretionary income after all expenses paid each month
That 1k would require 1 month of my life force spent working 173.33hrs of work time. (2080 full time hours/ 12)
If you take that same $1000.00 of monthly discretionary income and divide it by the 173.33/work hours.
Your actual true hourly rate provides you $5.77 dollars per hour of money you can have true choice over.
This is of course assuming you are being as reasonable as possible with your living expenses...
Grat point and a good way to look at it.
Sadly, I fall prey to ALL of these items. Turning over a new leaf, starting NOW!
Totally understand Lissa. That's why I made the video. I've been there with all of them too. Glad you're turning over a new leaf :)
If you find pt 4 interesting, loss aversion is a fascinating topic on human psychology and behavioural economics. Check out the work by Daniel Kahneman "Thinking Fast and Slow" for more.
Great video! Thanks! What do you think of credit monitoring services? My husband's identity got stolen when he was in college and so every few years, he'll get scammers opening accounts in his name.
Irs has a service for free if you have a police report. One bank or credit card offers it as a free service to its customers
Hey Olivia! Good question. It depends on how much $ they are and the what service does. Unfortunately a lot of credit monitoring services don't pack a lot of value for their price. I haven't had my identity stolen before, so I'm sure it's more important if you have. But my free setup works really well.
- I use the free version of credit sesame, and they're really good at sending emails when new accounts get opened
- Plus everyone is entitled to a free credit report once each year from each of the three big companies (experian, Transunion, and equifax). I have a calendar appointment to get one of these reports every four months for both my wife and I. Then I can quickly skim it and make sure nothing seems out of the ordinary.
Here's the link for that: www.annualcreditreport.com/index.action
Hope that helps :)
Thanks for the info!
Thanks Nick! I had my husband end his subscription to the credit monitoring service but was starting to wonder if it was a good idea or not. Will look into your suggestions. Thanks again!
Awesome Olivia! That sounds great :)
Best of luck, and thanks for watching!
Even if it doesn't improve my life. As long as I get the mental gratification I'm good. Life is short.
Whatever works!
Haha I’m actually planning on getting myself a Garmin fitness watch as a reward for getting my next debt paid off. 😅😅 Guilty😅😅
haha, as long as you don't use it as a false reward system, you should be good!! :) I do like the ones that track certain things. Biggest thing is stay realistic about what you're doing! :)
Thanks for watching!
Garmin is just rolling out their updated fitness watches right now. Which means sales on previous model close-outs. Perhaps you can score one of these or a replaced one on eBay that's "good enough" for your needs?
You can pry my Garmin watch from my cold dead hands. 💪
haha, I like the garmins, I use a forerunner these days to track my workouts. Still not a big fan of step-based goals as the end point :)
I don't buy new clothes, prime or any other subscription, toilet paper, paper towels, zip bags, tinfoil, plastic wrap, cleaning products, laundry soap, dryer sheets or hygiene products. Everything is used, reusable or DIY. Subscription are not mine. Expenses include actual necessity like food, gas, utilities and DIY ingredients like baking soda and vinegar. I am about to buy a push mower and cord for a clothes line.
"These people don't entertain", they also don't use the professional chef quality kitchen (except to microwave a TV dinner) The more likely drive through McDonald's
lenore mcgarry not sure who you’re talking about. But appreciate you watching.
I know, right? My mom loves all those shows and every single time I watch it's all about "entertaining." I look across my entire friend and family circle and can't see anyone "entertaining" - esp on a regular basis. Wonder if the shows tell them to say that? :)
Nicks parents raised him right....
I'm definitely blessed for sure, my parents were fantastic.
I watched this literally an hour after purchasing an Apple Watch... 😂 Oops...
Dwight K. Schrute "de-plied" toilet paper as a landlord in the Dunder Mifflin building to cut costs. Just sayin...
hahaha, yes, that's definitely one way to cut costs.... although I might stick to other methods ;)
But to each his own!
I hate hgtv for that “we wants” it’s sooooo annoying. If you want a open floor plan then buy a fucking warehouse
hahaha! So true. It's quite hilarious how often they do this and it doesn't make sense.
Thanks for watching man!
I get a gold star today. Check mark on every section. :D
therealchickentender hahaha nice! Three Gold stars for you my friend ⭐️ ⭐️ ⭐️