"$100" doesn't literally mean $100. It's whatever level a purchase starts feeling expensive. For some that number is lower - even much lower - for some, that number is higher. The principles are useful no matter what price point is meaningful to you.
@@theoffkeydiva Average item of clothing of average quality falls apart after 300-700 usages; which is around 3-4 months for underwear and 1-2years for jeans.For materials like cotton and linnen the usage times are higher, in thousands.
*Before I purchase an item I translate the dollar cost to time cost. Instead of asking am I willing to pay $100 for an item, I'll ask is this worth 3 hours of my working hours?*
A word or two of advice Renting Furniture from company's such as Rent A Center is not a good Idea because they use predatory financing and prey on those who do not have a good credit history, as well as those who do not have a lot of money or are on Public Assistance. The monthly payments are subject to interest charges so you wind up paying more than the price listed on the item.
1.) Why do you want to buy it? 2:00 2.) Does it fit your [current] lifestyle? 4:20 (blaze it) 3.) Do I have space for it? 6:14 4.) Do I already have something similar? 8:02 5.) How many times will you use it? 9:45 6.) Can you thrift, rent, or borrow instead? 10:55 7.) Should you save for a more expensive version? 13:21 8.) Could [that $100] be better served elsewhere? 14:56 9.) Do you need it now? 16:18 10.) Who or what are you supporting? 17:36 11.) Is it actually worth 100 of your dollars? 18:47
So, let's see. I want to buy a new smartphone. 1) Because I like to be in contact with friends and family, and also I need it for work. 2) Yup, very much. 3) Yes :-) 4) Well, not one that is still working... The old one broke down last week. 5) Too many... Like waaaay too many... 6) I could buy a second-hand version, but I am a little scared of buying technology that way as wear and tear will not show right away. 7) nope, my friends are getting tired of e-mailing me ;-) 8) maybe... If I give it away someone might buy food or medicine or something... But of the money spent on me this is definitely among the more useful types of purchase 9) Yes, I really do... 10) Big tech, Google, Samsung (or similar)... That sucks... 11) My life has started to revolve around it so much that I think it would be hard to go back. And I would definitely not mind working two full days (the phone will be more than $100...) on it. So yes, I guess so. Now all I have to solve is: which one? XD
These were pretty much my exact thoughts when i bought my own first pair of dress shoes (instead of always wearing hand me downs from my dad or older brother). While I hate clothes shopping in general I knew dropping $250 on a really nice pair of hand crafted Italian leather shoes from a boutique store in Florence was a great investment since I wear them every day to my new office job!
I feel like the 17 houses full of stuff is totally a generational thing. My friends and I are all dealing with parents and older relatives who struggle to let go of rooms, garages and basements FULL. OF. STUFF. Some are more eager to let go of the stuff, but others cannot let go or will try to pawn off stuff on others (like their kids).
A quick video outline for the busy ones out there ;) ( of course fully watching the video is still better as there is a lot of tips and examples given) : 1) Why do you want to buy it ? 2) Does it fit with your lifestyle? 3) Do I have space for it ? 4) Do I have something similar? 5)How many times will I use it ? 6) Can I thrift, rent or borrow that item ? 7) Should you save for a more expensive version? 8) Could it be better saved elsewhere? 9) Do you need it now? 10) Who and What is this purchase supporting? 11) Is it actually worth a hundred of your dollars?
$100 US can feed someone for three months in my country, so even when I'm in the US, and I'm far from poor even by American standards, there is a little voice in me translating my shopping into days of groceries home. Keeps me from overspending...
What infuriates me is that I have a perfectly fine flatscreen Sony 46" TV that I bought in 2010, along with a BluRay DVD player. BUT, a few years back, RUclips said my TV was obsolete and I can't stream its content on it. And, at the end of next month, Amazon Prime Video has said the same thing about my BluRay. Luckily, I have a new computer (because they DO get old and worn out), and now I have my old one hooked up to my TV to watch all that: Recycling at its finest!
I hate this as well. My smartphone is perfectly fine but at only 2 years old it's running out of memory from all the app updates. To be fair your TV and BluRay is almost 10 years old now.
Omg!! My partner and I bought a big second hand Soniq tv for $100 which has been great and has now lasted us almost 5 years. It doesn’t connect to the internet or anything but I have a well-used laptop for that, which has the added benefit of being a separate computer. My partner recently did calculations of how much electricity we would save if we bought a new $1000 tv and I was like “..... or we could just .. not watch so much tv and save all that power without the $1k price tag ?” Honestly the whole “smart tv” trend is so soul-sucking. It’s like capitalism is actively selling you subscriptions to convince you to waste more of your time, and then selling you tv’s so you can waste your time more conveniently. And then selling you gym memberships and fad diets so you can pretend to counteract the unhealthy habits you’re cultivating by watching tv all the time.
I've had the most horrific experiences at this coffee shop and I just kept going back because aesthetically its cool to read there even though the coffee is overpriced and the service is disgusting. Well I'm proud to say yesterday I said enough is enough and I went to a local chain dinner type place where I always get great service and I have no regrets. I've probably spent a lot of money trying to fit into cool spaces rather than functional places for meeeeee!
I like how you really talk like a writer. I know you're a writer but from the way you explain things, it seems like it's already been edited and I like your vocabulary. I love listening to you!
I've started budgeting recently and i live in the caribbean where everything is expensive. I enjoy the programme a lot and i have made significant changes to my lifestyle and finances. 3 months down the line i hope to maintain the continuity.
I think a good question to ask is what I'm going to call the "Marie-Kondo-level-two" question: will it spark joy tomorrow when it's in my closet or sitting on my desk or after the experience is over and I have the memory of the amazing theater ticket or vacation trip?
I would be very interested to see TFD to do a video on how millennials and younger gens are some of the generations that are buying luxury items at a younger and younger age. I recently decided to delete almost all the fashion bloggers I follow that pump out products to stop feeling like I need to buy them. I love high fashion for the artistic side of it, but I do think that with brands like LV starting to bring youtubers to their shows, the audience is getting younger and younger which could prove problematic for them later.
Thank you so much for bringing this conversation ! I have been thinking about this for some time now, influencers are completely ruining a lot of teenagers perception of money, it’s certains going to have bad consequences for them...
Any video I watch of yours is always educational. And it is always delivered with with the no-shit-sherlock variety of well placed descriptive words that crack me up. Thank you for making money topics normal and approachable. Love it!
Take a day's income. Subtract all the expenses of that day - travel, lunch, drinks etc. What is left is the level that you need to really think about the cost of an item. That applies when you are in your twenties and first career employment or in your 50s top of your game.
@@comedyblastYT That is certainly a problem. I had hourly paid teaching and a 60 miles round trip. Asking me to work one hour on a day I was not in college, even with the 20GBP did not leave much for the day and if you add in wear and tear nothing at all. When you point this out to them they claim "mathematics is not their strong point."
I bought a Kitchenaid stand mixer about a year into my married life. I used it about a dozen times before my daughter, who loves baking, put it to use at least 10 times a year. I'm glad I got it now.
Just for contrast, in rural life, sometimes you buy a new one because the perfectly good one you have will break eventually and you can't do without one for, might be weeks. Also, tools, buy the best you can find. Buy once cry once. BUT really good tools will serve for decades. (I have some I inherited and couldn't replace for any price)
I just spent hundreds of dollars on a dresser but ran through whether or not it was worth it for days. About a third of the cost was delivery - because I live in a 6 floor walk up. Also I don't have a closet, and this dresser has an enormous amount of space compared to what else I was seeing on craigslist and other vintage sites. Plus since it's nice I wont destroy it or junk it whenever I move next after years and years. Plus, it's a pre-existing piece of furniture from a local place not just a huge global chain with international shipping from a supply warehouses. Plus I'll use it every single day. I'm still a little stunned by how much I spent on a dresser but it will hugely impact my day to day and more space will be the right call. My last dresser was an IKEA dresser I had for 2 years, didnt assemble correctly, was only using half of the drawers as a result of, then junked when I moved. I dont want to do that ever again.
I like to think of spending in terms of how many pizzas I could buy with the cost of an item. Will it bring me the same amount of joy as those x amount of pizzas? Yes, buy it. No, pass.
I hate to admit with the stress of home isolation and finally having some money plus moving house I bought a couple very expensive things I wanted without as much need as I'd like. Things I did right were: try to get things I have to fill the void-- can I work with equipment I already have? and research (although I could have done more), I did look into what was the best bang for the buck. What I should have done more of is consider whether I'm really going to keep using it. I do this all the time, I want a new hobby (to be fair I do the majority of them regularly) and will invest in something without being honest with myself over how badly I want it.
I have a tip for clothes. One in one out rule. If you really need it, it's because something is wore out. I must donate or toss, before I buy. If I am unable to do away with anything then I do not need it.
I’ve always been ridiculously conscious of my spending and finances, but I can certainly say it helps a lot by paying for as many things with cash as possible. I know there are people who use cash because seeing the money actually leave their wallet is a good way to know how much is being spent and how much they care about it.
I have an amazing formal gown (only one I have owned besides wedding dress or bridesmaid dresses). I have worn it three times. No regrets but the bridal wear, total regret.
Wow what perfect timing?! I just received $100 this past weekend and it’s been burning a hole in my wallet so these questions will definitely help me consider what to spend it on if at all.
What makes a bar "nice" and worth $100? I mostly go to dive bars in the East Village and Brooklyn where you can get beer for as little as $3 and cocktails for around $7. Personally, I feel it's really the company that you have that makes it a good experience.
Wow, Chelsea really knocked it out of the park with this one! If you go honestly through this list of tests and end up still believing the purchase is worthy then you can go forward guilt free! It’s such a fail safe for not making those purchases you regret for months.
Timely and well thought out! I took notes! I recently shopped my house. I moved into a new apartment and had donated and tossed out a lot of stuff. I needed to figure out better storage and better ways to organize what I did have. I began looking at my things a bit differently. How could I make practical use of my things? I have an old dresser and now it fits beautifully in my bathroom housing towels and sheets along with toilet paper and other bathroom necessities. You’ll be amazed at what you can find in your home to repurpose and or to multi task! When might you do a collab with say WealthSimple for those of us over 50 who need a chance in this world to save and retire! I love your tips and incorporate a lot into my life but I don’t know how to increase my income without going to work fast food or retail. I’m 55 with neuropathy and dealing with cancer. Those are jobs too hard on me physically. I intend to be around a while and I’d just like to live comfortably later in life! Thank you!!
I know America sucks for being on benefits but you sound like you deserve a pension of some kind from your government so you don't have to work. You have cancer, you should be allowed to focus on healing yourself and only working if you want to. I hope you kick cancer's ass btw xo
I was aaaaalmost gonna make an impulse purchase, but then I remembered that I watched this video earlier today. I'm confident I still want it but I'm going to wait it out until after at least a few more shifts and see where I'm at then (I'm a server, so my pay varies). Thanks again, Chelsea and TFD!
It helps me to look for items on line that I want to purchase, place them in my virtual cart, and wait a few days. When I go back to my cart, I decide if I really want the items...or not!
Thanks for number 11. I just realized I was wasting enough time in traffic to be equivalent to $400 monthly based on my salary. It makes my dorm rent away from my parent's house much closer to work feel much better. That $400 is about half what I make monthly.
I easily blow over 100 on my hair. My cut, full head highlights plus gloss colour and wellaplex all usually mounts to £200, which I do every 4 months, and then another 150 on Keratin smoothing.... Hair is the one thing I spend a lot of money on with expensive hair products as well
I'm new here! Love the info you give and just subscribed yesterday. Doing the math of "how many hours do I need to work to pay for this" is my FAVE way to justify/talk myself out of spending money on something - works every time esp when on minimum wage
When I want something but I am not sure, I will leave and tell myself if I go back to the store and still want it, I will get it. Sometimes I do this 2-3 times before I buy something. Works great in thrift shops because it ends up being gone so you don't spend.
on the subject of brand names, i would say look into the re-sale value. Sometimes its worth buying high end items, when the re-sale is great. I.e. potentially limited fad items will sell higher sooner but drop off to being worthless later, were as classic pieces from brands who always do price increases will get you most, if not more than, of your money back.
I am literally watching this video as my direct deposit came in... about to do my budget, pay my bills and ever so normally clicked into Amazon (Chelsea in the background) ..exited out transferred into my money into my money market account.... thanks Chelsea
When I needed a new phone I needed a big battery and a good storage on it and it being a very safe phone if I were to ever drop it on the ground. I ended up with a Cat S41 smartphone instead of an iPhone and the cost was approximately 1/3 of the most recent and coolest iPhone.
I was online shopping the other night, when I couldn't sleep. I didn't have my cc on me so I put my phone aside and thought I'd buy them in the morning. I looked through the items the next day, while the clothes were cute, I thought about when I'd wear them and get use of them. I emptied my cart. My personal card is stored well away from me. For every non essential purchase (everyday purchases, like groceries, go on a joint card), I think to myself "is this worth the effort of getting my card?" Usually the answer is no.
If I want to buy something I'll keep it in my shopping cart for a week. If I don't clear it by then, then I actually want it opposed to being bored. I also see if I can incorporate it into my wardrobe.
In my case If I know the product is gonna last several years I'll buy it I don't have time for shopping i bought some casual shoes for $250 7 years ago they're still going strong. I think people should be focus on the materials they're buying and the quality I see spending as investment on stuff I don't have to worry for a long time.
I really appreciate your how-to-spend content! I'm just terrible at spending money and can get really anxious about making decisions which can end up with me living uncomfortably because I didn't get the thing I actually need or would have great use from. This channel has really helped me with that.
A beginning for cost per wear for me is will I wear it too $1 wear. Most things are way way more worn then this but good start. For more formal wear like dresses I try to get to $25 A wear so a $100 dress I see myself wearing it at least 4 events.
1. Kitchen Aid Standing mixers are awesome and do speak to you from across the room asking to make brownies ... (...I should make brownies tonight...) 2. Just got back from NYC... loved it! I wish my city had such frequent and convenient public transit. 3. I TOTALLY FORGOT YOU WERE IN NYC I WAS IN THE SAME CITY AS YOU (kind of fan girling out right now)
Large purchases that are mostly for joy rather than use are often much sweeter after a week or a month of gentle anticipation, and knowing it's not an impulse buy and will continue to spark joy for time to come
Those infamous uggs! 😂 I love when you bring that up😂😂 I need to start thinking if the other 10 questions but it always slaps me back into reality that something is costing 5 hours of my life to buy. Love you guys! Thanks for keeping me on track and holding me accountable 🙃
Videos like this make me realise how good my base habits are because of having no disposable income for so long. Just nobody look at my pile of secondhand books I have yet to read...
Today I spent over 750 dollars, and I don't even regret it... most of that was a necessary payment to the mechanic and a medical appt, but still it was odd to spend nearly 1,000 dollars in one day. I've been very consistent about saving the last few years, and now that I've been in my new job for nearly a year, it felt amazing to have the money to attend to useful things that three years ago I probably would have just ignored to my own detriment because I didn't have enough cushion to spend money on them.
This is spot on!! I've often thought about how many hours I would have to work for a particular item and many times said too many hours of my time to buy something. Also, just recently I was going to buy a Kitchenaid mixer because I figured it's better than the one I have but decided to just walk away because I knew that I wouldn't bake anymore with it. It's good to hear someone else say these kinds of things about spending money. Thanks for your wonderful content!
$20 for a drink seams ridiculously expensive to me $7 seams more reasonable, but a $919 for an Ikon ski pass seams like a great deal to me because I like to ski a lot and that's the cheapest it will be for the year.
The problem is, brand names are better, but most often, it's only slightly better (for 10x more cost). There is no in between. There is no mid price good quality item brands.
Agree slightly. Some high end brands have cheaper, less fancy versions of their products which are good quality but just have less bling or fewer functions. Then there's also the question: how good a quality do you need? I buy drugstore makeup for example because it does the job and my livelihood/happiness is not dependent on the flawlessness of my appearance.
Micha Sonmark i was referring to bags actually! But u def make a good point on skincare/makeup. I tend to go for natural/organic brands w/o fragrance and the effects are great!
I'm going to Toronto soon and had hopes of buying some designer shoes. It was a cute idea of what this weird idealized me wants (designer clothes, being fancy) which isn't me in reality. I'm pretty frugal and the "treat yo self" idea is fading after this video. I can't even walk in heels and get blisters easily.
12:30 After being terrorized by bed bugs in my last apartment, I would never buy used upholstered furniture. When I moved out, I threw away thousands of dollars of furniture because I didn't want to risk taking any with me.
Hmm... most of the biggest purchases in my life have been in the category of experiences (ie. travel, concerts, classes, etc.) and some in games. I don't think I regret any of those but I sometimes question if I should've tackled them more wisely.
I just bought a new phone without the old one being broken for the first time - I started to notice my 3-5-year-old second-hand iPhone developing a few 'quirks' and I realised that planned obsolescence was gonna kick in soon. Instead of waiting for my phone to die and then frantically spending £300+ on a replacement, I sold my iPhone while it was still in good condition, and got my new (and more up-to-date) phone half price from the same phone-upcycling site. I saved myself almost £200 by selling my phone a little early and even ended up with a more recent model at the end of it!
I always like to save up for more expensive items it might take awhile but it also allows me time to think about if I really need or not and when I do have the money and I still want then I will happily buy and know that I will use it all the time
I never comment. But when you started talking about smartphones I lost my s&it. I effing love you Chelsea! There is no realer more respectful bi#@c on RUclips. Don't ever stop making these videos.
That last one about my salary hour was a Great one! Thanks.. already most of my salary weeks are going to my kids school tuitions !! We have very little of that left!
It always just stuns me hearing about people considering $100-worth "impulse buys." Here I am wondering if I can splurge $12 for a dinner out on a great day without going broke.
I totally agree with you. I know people who pay for storage to keep things they usually never use again. It's just ridiculous to me here in New Mexico.
I tend to be the type that will over think any expense that is not in my normal budget and I'm working at trying to get better about the ones that are technically in budget particularly food items I'd like to try or that are on sale but I didn't really need but don't put me over budget because of the wiggle room I have in my food budget that perhaps I shouldn't. Meanwhile my mother-in-law lost the oven in her stove due to a power surge and I've been helping her look into options to replace it. We got a free estimate from a repairman who told us that the two parts that were burned out would cost more than the whole stove on their own. We looked at replacing the whole stove but the range still worked and wouldn't justify that cost. Finally we've decided to get a counter top toaster/convection oven.
Looking for more smart ways to spend $100? Check out this video: ruclips.net/video/7wvnj63H2dM/видео.html.
"$100" doesn't literally mean $100. It's whatever level a purchase starts feeling expensive. For some that number is lower - even much lower - for some, that number is higher. The principles are useful no matter what price point is meaningful to you.
well said, thank you.
Especially when you pair it with the time it took to make that $100.
Yeah, for me that level is around $40 because I work part time at very slightly above min wage.
Wow, amazing words! This helps me
@@adventurousdaydreamer YES!!
me: *wants to buy something*
me: what would chelsea do
Straight up 🤣.
Nothing wrong with wearing the exact same thing to every single wedding/party you ever get invited to. 🙃
Jenny W. Chan - Origami Tree
I don’t know. With the amount of weddings I have been invited to this year, think that one outfit would fall a part 😂
@@theoffkeydiva Just don't wash it hahaha...or maybe wash every other time you wear it. Saves on laundry expenses and will extend its lifespan. :D
@@theoffkeydiva Average item of clothing of average quality falls apart after 300-700 usages; which is around 3-4 months for underwear and 1-2years for jeans.For materials like cotton and linnen the usage times are higher, in thousands.
@@evgenia how do you use the same underwear 300-700 times in 3 months?
@@nikolavrbanic647 Good question. Made me laugh!
I feel like you're so sassy now, a woman of intention and opinion within reason. I love it.
*Before I purchase an item I translate the dollar cost to time cost. Instead of asking am I willing to pay $100 for an item, I'll ask is this worth 3 hours of my working hours?*
I do this too. Being minimum wage it makes me cry that a morning coffee costs like 20 mins of me working
@@alexvesel1 coffee is so good it may just be worth it 😅. Perks of knowing your hourly rate to determine if something is worth your time and money!
For me, I don’t do work hours as I’m still in school. I do lunches e.g. is this thing really worth 3 lunches?
@@erinc492 *Buys a new leather jacket* Jeez I'm so hungry...
Same here. Best lesson I ever learned.
A word or two of advice Renting Furniture from company's such as Rent A Center is not a good Idea because they use predatory financing and prey on those who do not have a good credit history, as well as those who do not have a lot of money or are on Public Assistance. The monthly payments are subject to interest charges so you wind up paying more than the price listed on the item.
I freaking love Chelsea's no bullshit approach in her videos. Keep up the great content!
Louise Brehmer I just love when she actually says the word “bullshit”. It makes me grin from ear to ear.
1.) Why do you want to buy it? 2:00
2.) Does it fit your [current] lifestyle? 4:20 (blaze it)
3.) Do I have space for it? 6:14
4.) Do I already have something similar? 8:02
5.) How many times will you use it? 9:45
6.) Can you thrift, rent, or borrow instead? 10:55
7.) Should you save for a more expensive version? 13:21
8.) Could [that $100] be better served elsewhere? 14:56
9.) Do you need it now? 16:18
10.) Who or what are you supporting? 17:36
11.) Is it actually worth 100 of your dollars? 18:47
I watch her more because I love the way she talks and her sarcasm than the actual message about money. These messages I already got
So, let's see. I want to buy a new smartphone.
1) Because I like to be in contact with friends and family, and also I need it for work.
2) Yup, very much.
3) Yes :-)
4) Well, not one that is still working... The old one broke down last week.
5) Too many... Like waaaay too many...
6) I could buy a second-hand version, but I am a little scared of buying technology that way as wear and tear will not show right away.
7) nope, my friends are getting tired of e-mailing me ;-)
8) maybe... If I give it away someone might buy food or medicine or something... But of the money spent on me this is definitely among the more useful types of purchase
9) Yes, I really do...
10) Big tech, Google, Samsung (or similar)... That sucks...
11) My life has started to revolve around it so much that I think it would be hard to go back. And I would definitely not mind working two full days (the phone will be more than $100...) on it. So yes, I guess so.
Now all I have to solve is: which one? XD
@@paulinemoira8442 Thanks :-) I was looking at a Motorola now, but Samsung is also an option. But no Apples or Huaweis indeed...
The real MVP! I took notes and kissed two questions
THANK YOU! i was hoping someone listed the questions so that I could jot them down!
These were pretty much my exact thoughts when i bought my own first pair of dress shoes (instead of always wearing hand me downs from my dad or older brother). While I hate clothes shopping in general I knew dropping $250 on a really nice pair of hand crafted Italian leather shoes from a boutique store in Florence was a great investment since I wear them every day to my new office job!
I feel like the 17 houses full of stuff is totally a generational thing. My friends and I are all dealing with parents and older relatives who struggle to let go of rooms, garages and basements FULL. OF. STUFF. Some are more eager to let go of the stuff, but others cannot let go or will try to pawn off stuff on others (like their kids).
It's so sad people used to fight over family heirlooms and now it's all garbage!
A quick video outline for the busy ones out there ;) ( of course fully watching the video is still better as there is a lot of tips and examples given) :
1) Why do you want to buy it ?
2) Does it fit with your lifestyle?
3) Do I have space for it ?
4) Do I have something similar?
5)How many times will I use it ?
6) Can I thrift, rent or borrow that item ?
7) Should you save for a more expensive version?
8) Could it be better saved elsewhere?
9) Do you need it now?
10) Who and What is this purchase supporting?
11) Is it actually worth a hundred of your dollars?
Thank you so much
Thank you. What a unnecessarily long video
@@VEE727 It is less than 2 minutes per point. Not long at all.
$100 US can feed someone for three months in my country, so even when I'm in the US, and I'm far from poor even by American standards, there is a little voice in me translating my shopping into days of groceries home. Keeps me from overspending...
What country is that lol
@@melanieovalles5254 You can look this up on google or yt.
I guess Indonesia?
@@adventurousdaydreamer That could be many countries though...
Very true!
What infuriates me is that I have a perfectly fine flatscreen Sony 46" TV that I bought in 2010, along with a BluRay DVD player. BUT, a few years back, RUclips said my TV was obsolete and I can't stream its content on it. And, at the end of next month, Amazon Prime Video has said the same thing about my BluRay. Luckily, I have a new computer (because they DO get old and worn out), and now I have my old one hooked up to my TV to watch all that: Recycling at its finest!
I hate this as well. My smartphone is perfectly fine but at only 2 years old it's running out of memory from all the app updates. To be fair your TV and BluRay is almost 10 years old now.
Omg!! My partner and I bought a big second hand Soniq tv for $100 which has been great and has now lasted us almost 5 years. It doesn’t connect to the internet or anything but I have a well-used laptop for that, which has the added benefit of being a separate computer.
My partner recently did calculations of how much electricity we would save if we bought a new $1000 tv and I was like “..... or we could just .. not watch so much tv and save all that power without the $1k price tag ?”
Honestly the whole “smart tv” trend is so soul-sucking. It’s like capitalism is actively selling you subscriptions to convince you to waste more of your time, and then selling you tv’s so you can waste your time more conveniently. And then selling you gym memberships and fad diets so you can pretend to counteract the unhealthy habits you’re cultivating by watching tv all the time.
That's great! I have used an old chromecast for years now for similar reasons.
I've had the most horrific experiences at this coffee shop and I just kept going back because aesthetically its cool to read there even though the coffee is overpriced and the service is disgusting. Well I'm proud to say yesterday I said enough is enough and I went to a local chain dinner type place where I always get great service and I have no regrets. I've probably spent a lot of money trying to fit into cool spaces rather than functional places for meeeeee!
Oh I'm such a sucker for fancy coffee places,even when actually being there is sort of anxiety inducing,,, how did you break away??
I'm a teenager and all of my $100 spendings have been impulse buys, and I don't even remember what I bought half the time.
I like how you really talk like a writer. I know you're a writer but from the way you explain things, it seems like it's already been edited and I like your vocabulary. I love listening to you!
I've started budgeting recently and i live in the caribbean where everything is expensive. I enjoy the programme a lot and i have made significant changes to my lifestyle and finances. 3 months down the line i hope to maintain the continuity.
I think a good question to ask is what I'm going to call the "Marie-Kondo-level-two" question: will it spark joy tomorrow when it's in my closet or sitting on my desk or after the experience is over and I have the memory of the amazing theater ticket or vacation trip?
That's a great question. Sometimes with clothing, I ask myself, "Will I still want to wear this three years from now? Five years from now?"
I'm in college and make a LOT of bread and I recently got a kitchenaid stand mixer for $95 from an estate sale and I just NEED TO TELL YOU ABOUT IT
Thank you because I was really about to drop $75 on a Versace perfume lol but you changed my mind
D Lish I was just about to place an online order at Sephora for well over $100.
I would be very interested to see TFD to do a video on how millennials and younger gens are some of the generations that are buying luxury items at a younger and younger age. I recently decided to delete almost all the fashion bloggers I follow that pump out products to stop feeling like I need to buy them. I love high fashion for the artistic side of it, but I do think that with brands like LV starting to bring youtubers to their shows, the audience is getting younger and younger which could prove problematic for them later.
Thank you so much for bringing this conversation ! I have been thinking about this for some time now, influencers are completely ruining a lot of teenagers perception of money, it’s certains going to have bad consequences for them...
Any video I watch of yours is always educational. And it is always delivered with with the no-shit-sherlock variety of well placed descriptive words that crack me up. Thank you for making money topics normal and approachable. Love it!
Take a day's income. Subtract all the expenses of that day - travel, lunch, drinks etc. What is left is the level that you need to really think about the cost of an item. That applies when you are in your twenties and first career employment or in your 50s top of your game.
I work on-call so depending on the day that could leave me with, like, $10
@@comedyblastYT That is certainly a problem. I had hourly paid teaching and a 60 miles round trip. Asking me to work one hour on a day I was not in college, even with the 20GBP did not leave much for the day and if you add in wear and tear nothing at all. When you point this out to them they claim "mathematics is not their strong point."
I bought a Kitchenaid stand mixer about a year into my married life. I used it about a dozen times before my daughter, who loves baking, put it to use at least 10 times a year. I'm glad I got it now.
"Or that selfie camera that shows such high definition of your face that it ruins your self-esteem." XD
Istg I’m never gonna but a new phone now 😂😂
This channel has helped me a lot cus I'm a 7/10 compulsive buyer and always try to justify my stupid purchases. Thanks for the content!
My rule for expensive items is wait a week before buying it and research everything.
Yup.
I think ppl should ask these questions no matter how much they are spending. We should all be thoughtful consumers at best !
About the thrift store furniture purchases.. I bought a $30 sofa at the thrift store once and ended up getting bed bugs. Never again.
I eliminated grocery overspend and food waste years ago by switching to shopping online exclusively except for farmers markets in season.
I need a tiny Chelsea in my wallet, to judge me everytime I take out my credit card.
Same here
On my shoulder
Take a screenshot of her in any of her videos, and literally TAPE it to your credit card. Whatever it takes.
get a photo of her on your credit card or put a photocard in your wallet
Or what about Julius Rock (the dad from “Everybody Hates Chris”)? Maybe both Chelsea and Julius?
I cringe when I’m about to spend $20.
Just for contrast, in rural life, sometimes you buy a new one because the perfectly good one you have will break eventually and you can't do without one for, might be weeks. Also, tools, buy the best you can find. Buy once cry once. BUT really good tools will serve for decades. (I have some I inherited and couldn't replace for any price)
A cheap socket set and a few rusty wrenches are going to be fine for most people. I can get a 120 piece socket set for $100.
@@kevinliang9502 Chacun a sont gout, but I for one, have a limited tolerance for damaging my project or my hands because of inadequate tools.
I just spent hundreds of dollars on a dresser but ran through whether or not it was worth it for days. About a third of the cost was delivery - because I live in a 6 floor walk up. Also I don't have a closet, and this dresser has an enormous amount of space compared to what else I was seeing on craigslist and other vintage sites. Plus since it's nice I wont destroy it or junk it whenever I move next after years and years. Plus, it's a pre-existing piece of furniture from a local place not just a huge global chain with international shipping from a supply warehouses. Plus I'll use it every single day. I'm still a little stunned by how much I spent on a dresser but it will hugely impact my day to day and more space will be the right call. My last dresser was an IKEA dresser I had for 2 years, didnt assemble correctly, was only using half of the drawers as a result of, then junked when I moved. I dont want to do that ever again.
My favorite videos are the ones with Chelsea and the Thursday videos.
How does that work? en.wikipedia.org/wiki/The_Man_Who_Was_Thursday
I like to think of spending in terms of how many pizzas I could buy with the cost of an item. Will it bring me the same amount of joy as those x amount of pizzas? Yes, buy it. No, pass.
I hate to admit with the stress of home isolation and finally having some money plus moving house I bought a couple very expensive things I wanted without as much need as I'd like. Things I did right were: try to get things I have to fill the void-- can I work with equipment I already have? and research (although I could have done more), I did look into what was the best bang for the buck. What I should have done more of is consider whether I'm really going to keep using it. I do this all the time, I want a new hobby (to be fair I do the majority of them regularly) and will invest in something without being honest with myself over how badly I want it.
I have a tip for clothes. One in one out rule. If you really need it, it's because something is wore out. I must donate or toss, before I buy. If I am unable to do away with anything then I do not need it.
I’ve always been ridiculously conscious of my spending and finances, but I can certainly say it helps a lot by paying for as many things with cash as possible. I know there are people who use cash because seeing the money actually leave their wallet is a good way to know how much is being spent and how much they care about it.
Could y’all do a video on pros & cons financially for food services? Like online pick-up or meal prep delivery services? Thanks!
Your dress sounds fabulous. Maybe film a video in it to get an extra use.
I would love to see it, it sounds gorgeous!
That's a GREAT idea! Lol.
Excellent idea! And not just one video, do more with the other dresses as well. Score more uses!
I have an amazing formal gown (only one I have owned besides wedding dress or bridesmaid dresses). I have worn it three times. No regrets but the bridal wear, total regret.
Wow what perfect timing?! I just received $100 this past weekend and it’s been burning a hole in my wallet so these questions will definitely help me consider what to spend it on if at all.
Usually I pick an item based on how much I use it, divided by price or if it's a need oppose to a want.
Example: snow pants $180
8 months worth of snow
8×31= 248
180÷248= .72
What makes a bar "nice" and worth $100? I mostly go to dive bars in the East Village and Brooklyn where you can get beer for as little as $3 and cocktails for around $7. Personally, I feel it's really the company that you have that makes it a good experience.
That selfie camera ruining your self esteem comment made me spit out my tea with laughter 😂🤣☕️ love your delivery style
Wow, Chelsea really knocked it out of the park with this one! If you go honestly through this list of tests and end up still believing the purchase is worthy then you can go forward guilt free! It’s such a fail safe for not making those purchases you regret for months.
my favourite thrift store buy was a keurig coffee maker for $10. it retails for like $100!
And to think people were destroying those the other day.
Timely and well thought out! I took notes! I recently shopped my house. I moved into a new apartment and had donated and tossed out a lot of stuff. I needed to figure out better storage and better ways to organize what I did have. I began looking at my things a bit differently. How could I make practical use of my things? I have an old dresser and now it fits beautifully in my bathroom housing towels and sheets along with toilet paper and other bathroom necessities. You’ll be amazed at what you can find in your home to repurpose and or to multi task!
When might you do a collab with say WealthSimple for those of us over 50 who need a chance in this world to save and retire! I love your tips and incorporate a lot into my life but I don’t know how to increase my income without going to work fast food or retail. I’m 55 with neuropathy and dealing with cancer. Those are jobs too hard on me physically. I intend to be around a while and I’d just like to live comfortably later in life! Thank you!!
I know America sucks for being on benefits but you sound like you deserve a pension of some kind from your government so you don't have to work. You have cancer, you should be allowed to focus on healing yourself and only working if you want to. I hope you kick cancer's ass btw xo
I was aaaaalmost gonna make an impulse purchase, but then I remembered that I watched this video earlier today. I'm confident I still want it but I'm going to wait it out until after at least a few more shifts and see where I'm at then (I'm a server, so my pay varies). Thanks again, Chelsea and TFD!
It helps me to look for items on line that I want to purchase, place them in my virtual cart, and wait a few days. When I go back to my cart, I decide if I really want the items...or not!
Thanks for number 11. I just realized I was wasting enough time in traffic to be equivalent to $400 monthly based on my salary. It makes my dorm rent away from my parent's house much closer to work feel much better.
That $400 is about half what I make monthly.
I easily blow over 100 on my hair. My cut, full head highlights plus gloss colour and wellaplex all usually mounts to £200, which I do every 4 months, and then another 150 on Keratin smoothing.... Hair is the one thing I spend a lot of money on with expensive hair products as well
I'm new here! Love the info you give and just subscribed yesterday. Doing the math of "how many hours do I need to work to pay for this" is my FAVE way to justify/talk myself out of spending money on something - works every time esp when on minimum wage
When I want something but I am not sure, I will leave and tell myself if I go back to the store and still want it, I will get it. Sometimes I do this 2-3 times before I buy something. Works great in thrift shops because it ends up being gone so you don't spend.
on the subject of brand names, i would say look into the re-sale value. Sometimes its worth buying high end items, when the re-sale is great. I.e. potentially limited fad items will sell higher sooner but drop off to being worthless later, were as classic pieces from brands who always do price increases will get you most, if not more than, of your money back.
I am literally watching this video as my direct deposit came in... about to do my budget, pay my bills and ever so normally clicked into Amazon (Chelsea in the background) ..exited out transferred into my money into my money market account.... thanks Chelsea
I love your attitude 😂 you keep it so real
When I needed a new phone I needed a big battery and a good storage on it and it being a very safe phone if I were to ever drop it on the ground. I ended up with a Cat S41 smartphone instead of an iPhone and the cost was approximately 1/3 of the most recent and coolest iPhone.
I think we need to see that crazy emerald green ballgown!
I was online shopping the other night, when I couldn't sleep. I didn't have my cc on me so I put my phone aside and thought I'd buy them in the morning. I looked through the items the next day, while the clothes were cute, I thought about when I'd wear them and get use of them. I emptied my cart. My personal card is stored well away from me. For every non essential purchase (everyday purchases, like groceries, go on a joint card), I think to myself "is this worth the effort of getting my card?" Usually the answer is no.
If I want to buy something I'll keep it in my shopping cart for a week. If I don't clear it by then, then I actually want it opposed to being bored. I also see if I can incorporate it into my wardrobe.
In my case If I know the product is gonna last several years I'll buy it I don't have time for shopping i bought some casual shoes for $250 7 years ago they're still going strong. I think people should be focus on the materials they're buying and the quality I see spending as investment on stuff I don't have to worry for a long time.
I really appreciate your how-to-spend content! I'm just terrible at spending money and can get really anxious about making decisions which can end up with me living uncomfortably because I didn't get the thing I actually need or would have great use from. This channel has really helped me with that.
A beginning for cost per wear for me is will I wear it too $1 wear. Most things are way way more worn then this but good start. For more formal wear like dresses I try to get to $25 A wear so a $100 dress I see myself wearing it at least 4 events.
1. Kitchen Aid Standing mixers are awesome and do speak to you from across the room asking to make brownies ... (...I should make brownies tonight...)
2. Just got back from NYC... loved it! I wish my city had such frequent and convenient public transit.
3. I TOTALLY FORGOT YOU WERE IN NYC I WAS IN THE SAME CITY AS YOU (kind of fan girling out right now)
Anything over $5 is expensive to me
Ditto!
Large purchases that are mostly for joy rather than use are often much sweeter after a week or a month of gentle anticipation, and knowing it's not an impulse buy and will continue to spark joy for time to come
Those infamous uggs! 😂 I love when you bring that up😂😂
I need to start thinking if the other 10 questions but it always slaps me back into reality that something is costing 5 hours of my life to buy.
Love you guys! Thanks for keeping me on track and holding me accountable 🙃
I always go check my bank account after watching your videos. I check if I can put a little more in to my savings.
Videos like this make me realise how good my base habits are because of having no disposable income for so long. Just nobody look at my pile of secondhand books I have yet to read...
does this apply to rent? i don't think i am gonna pay for it this month. It is not in my lifestyle.
😂
Obviously, if living under the bridge or buying your own flat is better option for you, don't pay rent...after you are out of a contract. ;)
Today I spent over 750 dollars, and I don't even regret it... most of that was a necessary payment to the mechanic and a medical appt, but still it was odd to spend nearly 1,000 dollars in one day. I've been very consistent about saving the last few years, and now that I've been in my new job for nearly a year, it felt amazing to have the money to attend to useful things that three years ago I probably would have just ignored to my own detriment because I didn't have enough cushion to spend money on them.
i died when you said we have to have the new shiny phone with the extra sharp camera that when we use them it seriously hurts our self esteem😂😂😂
This is spot on!! I've often thought about how many hours I would have to work for a particular item and many times said too many hours of my time to buy something. Also, just recently I was going to buy a Kitchenaid mixer because I figured it's better than the one I have but decided to just walk away because I knew that I wouldn't bake anymore with it. It's good to hear someone else say these kinds of things about spending money. Thanks for your wonderful content!
$20 for a drink seams ridiculously expensive to me $7 seams more reasonable, but a $919 for an Ikon ski pass seams like a great deal to me because I like to ski a lot and that's the cheapest it will be for the year.
Did you know? She lives in New York city
The problem is, brand names are better, but most often, it's only slightly better (for 10x more cost). There is no in between. There is no mid price good quality item brands.
Michelle H very few! I agree
Agree slightly. Some high end brands have cheaper, less fancy versions of their products which are good quality but just have less bling or fewer functions. Then there's also the question: how good a quality do you need? I buy drugstore makeup for example because it does the job and my livelihood/happiness is not dependent on the flawlessness of my appearance.
Micha Sonmark i was referring to bags actually! But u def make a good point on skincare/makeup. I tend to go for natural/organic brands w/o fragrance and the effects are great!
$16 for a cocktail (before tipping) in downtown Chicago...I had to slow down on going out for this reason.
Spending $100 or even CHF 100,
should not break anyone's budget.
Here in Switzerland I was earning
more than that for one hour of work.
I'm going to Toronto soon and had hopes of buying some designer shoes. It was a cute idea of what this weird idealized me wants (designer clothes, being fancy) which isn't me in reality. I'm pretty frugal and the "treat yo self" idea is fading after this video. I can't even walk in heels and get blisters easily.
12:30 After being terrorized by bed bugs in my last apartment, I would never buy used upholstered furniture. When I moved out, I threw away thousands of dollars of furniture because I didn't want to risk taking any with me.
Hmm... most of the biggest purchases in my life have been in the category of experiences (ie. travel, concerts, classes, etc.) and some in games. I don't think I regret any of those but I sometimes question if I should've tackled them more wisely.
I just bought a new phone without the old one being broken for the first time - I started to notice my 3-5-year-old second-hand iPhone developing a few 'quirks' and I realised that planned obsolescence was gonna kick in soon. Instead of waiting for my phone to die and then frantically spending £300+ on a replacement, I sold my iPhone while it was still in good condition, and got my new (and more up-to-date) phone half price from the same phone-upcycling site. I saved myself almost £200 by selling my phone a little early and even ended up with a more recent model at the end of it!
I always like to save up for more expensive items it might take awhile but it also allows me time to think about if I really need or not and when I do have the money and I still want then I will happily buy and know that I will use it all the time
Do I have the space for it? Absolutely not.
Never spend money on an item that you think will create a new a habit . . . I needed this advice every time I bought a whole new workout wardrobe!
I’m literally the only person who needs gowns. I’m an opera singer 😂👍🏼
Chelsea’s realness is just hilarious. I love her sense of humor and whit
A new subscriber but I already like you and your contents a lot. 😊
I never comment. But when you started talking about smartphones I lost my s&it. I effing love you Chelsea! There is no realer more respectful bi#@c on RUclips. Don't ever stop making these videos.
That last one about my salary hour was a Great one! Thanks.. already most of my salary weeks are going to my kids school tuitions !! We have very little of that left!
It always just stuns me hearing about people considering $100-worth "impulse buys." Here I am wondering if I can splurge $12 for a dinner out on a great day without going broke.
I totally agree with you. I know people who pay for storage to keep things they usually never use again. It's just ridiculous to me here in New Mexico.
Dining table, maybe, but I've seen a lot of narley furniture at thrift stores...
Stay away from Rent-a-Center or places that rent furniture. You're going to pay over the cost of just buying the item.
People often freak out about me spending 300 on headphones but don't know I use them every single day.
Chelsea making us question our purchases 🤣 this is good btw
Thank you Chelsea and TFD for another thought provoking video.
I tend to be the type that will over think any expense that is not in my normal budget and I'm working at trying to get better about the ones that are technically in budget particularly food items I'd like to try or that are on sale but I didn't really need but don't put me over budget because of the wiggle room I have in my food budget that perhaps I shouldn't.
Meanwhile my mother-in-law lost the oven in her stove due to a power surge and I've been helping her look into options to replace it. We got a free estimate from a repairman who told us that the two parts that were burned out would cost more than the whole stove on their own. We looked at replacing the whole stove but the range still worked and wouldn't justify that cost. Finally we've decided to get a counter top toaster/convection oven.