How I Stopped Wanting to Buy Stuff
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- Опубліковано 28 жов 2023
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Great video, really informative. Especially when you broke down how many hours you'd have to work to buy that item. Watching in the UK. ❤
I like to tell people who are interested; “I have money to blow, because I don’t blow money.” Control your impulses. I think it really is that simple. 🙏😊
Yes.
@@tomdixon1213 It's sad that most of our brightest and best are recruited to circumnavigate our impulse control.
@@Unterwelten - I absolutely agree!
Cute
For me it’s about having a strong set of financial rules and then following them. And embrace delayed gratification.
Back when I was breaking myself away from Retail Therapy if I saw something I really liked I would pick it up and carry it around the store while doing my serious shopping. After several minutes I would think, where will I put this in my crowded apartment. Suddenly bringing this thing home became less attractive and I considered that I really did 'own' it while carrying it around and now I am tired of it and back to the shelf it went. I also treat stores like a museum, it's fun to look at the stuff and leave it there for someone else to dust.
Great comment. I do the same in the store😊
Me too!😂
I’ve often thought of this in terms of looking at pretty/sparkly things the way I look at things in a museum, so your comment tickled me!😁
Museum's, Exactly...that means I'm not the only one.
I can’t tell you the number of times I’ve carried something around a store only to put it back.
“Where everything is White and empty” 😂your response to that tickled me Nicole - you have a brilliant sense of humour - nice to see someone not taking themselves too seriously- I just love your channel - informative interesting and funny all rolled into one
Yep, self deprecation humor 😂
I don’t shop like I used to because I RESPECT my money, and because I also ask myself: “Will I love this in a year?” The answer is 99% always “No”
A year ago I changed my money mindset. I'm 51. It happened when I reviewed my pensions. A switch flicked and I thought about my financial future properly for the first time ever. Since then I've struggled to spend. Whatever you buy depreciates. It has to be essential now for me. I find enjoyment in free stuff. Now my finances are stronger, I can indulge myself when I feel the need but materialism is in my rear view mirror.
Buy wisely on the 2nd hand market, and many things lose no financial value at all. Some even gain and can be sold at profit. Anything from furniture, records, clothes, sometimes even cars but maintainenece costs in your ownership could exceed purchase price profits.
I am reaping the rewards of living this way. About to retire from teaching at 56 with a good pension. My husband and I have no debt and a total net worth of 2.5 million.
My neighbor retired early in her 50s from teaching. She has always lived quite simple but enjoying every single moment of her life. She retired about ten years ago.
As you alluded to, I think many people buy things to "keep up with the Joneses." I know a lot of people who buy things they can't afford to impress people. Living a simple life is easy for me because I don't really care what people think about my old phone, or old car, or old apartment.
A friend of mine organizes every year craft sales at her store. She invited me to go. It’s just a thought of it created stress in my mind. I politely told her I cannot go. I don’t go to craft sales because there’s nothing there that I need or want and I don’t buy anything unless I absolutely need it. I don’t walk into a place just looking for something to spend my money on. I would rather stay home and read a book or clean my house or cook myself something delicious to eat.
"Seagulls shit on the stuff we used to care about!" HAR HAR HARRRRRR!!! 🤣🤣🤣🤣🤣🤣🤣
I'm a hoarder with ADHD which means I have a chronic lack of dopamine in my brain. Imagine shopping as me. Or trying to let go of nostalgic items. Yeah. The turning point for me was getting medication, without it I truly COULD NOT SEE what my home looks like. Felt like waking up. Problem was even when at times I became aware of my habits and how my home makes me ill I lacked the executive function to do anything about it. I have three kids and juggling a full time job, this home and kids was like driving a car max speed into a wall over and over again from burnout to burnout.
I'm now in the middle of decluttering my home, which I believe to take a few months of hard work (it's been 3 weeks and the results are amazing), reworked our finances so we're actually saving now and creating passive income where possible and I feel so relieved. Biggest motivation is that a clean simple environment massively helps with my inattentive symptoms. Your channel has been an inspiration. I keep listening to your videos when I declutter and clean to help me focus :D
Cheers
I’m the same as you. ADHD and clutter hog. I made a UA-cam channel to make myself accountable to me.
Wishing you all the best in your decluttering journey!
I disagree with your statement. I think as a hoarder you especially have dopamine. My father is a hoarder and spends every day bringing things home to his house.
@@SirenaSpades ADHD is categorized as a chronic lack of dopamine which drives people to chase fast fixes of quick dopamine and often leads to addictive behaviour. Accumulating clutter is not the only trouble this has gotten me into. Could be worse though, I did dodge drugs.
@@makingMyHouseaHome412 I wish you all the best, gonna follow your channel!
It can be hard sometimes but luckily we are some of the hardest workers when we finally get our heads into it. Let's do this!
I’m addicted to giving money away, mainly to bird and animal rescues. This gives me great pleasure. I’m getting old and i would like to feel my life has made a difference. I also spend a small fortune on food for the wild birds and squirrels in my yard. This makes me happy. I drive an old car, the only clothes i buy are socks, underwear, and shirts that support a cause i believe in. I have a financial advisor who i think is a bit concerned about how I will give money away in ways where I can’t take a tax deduction (like to Canadian charities- I’m American). But i know that what makes me happy is not material things.
One of the most useful tips I came up with for myself many years back was to avoid putting myself into the path of temptation, because at the time, I had difficulty resisting it. Heh. Simply not going into stores, not opening any catalogues that might show up in the mail, not watching home decoration shows, etc.. I often got comments like “Oh, just go shopping with us, you don’t have to buy anything, it’s just for fun! Just show some willpower.” And then eye rolls when I explained that this *was* me showing willpower. And to be honest, I never really enjoyed shopping just for the sake of shopping; I like knowing what I want to get, and getting it, but not just wandering around looking for something to jump up at me screaming “You didn’t know you wanted or needed me until you saw me, but now you’re dooooooooomed to buy me!” 😉
Well Nicole, you’re a very intelligent woman who is leaps and bounds beyond your youth. Us seniors are right in step with your perspective on life. Money talks such as this one are very important to anyone’s success as we navigate our journey.
You are so right about the dopamine. Shopping is a rush, a treasure hunt, much like a gambling addiction. When I retired and was forced to move from California to a less expensive place, the cost of hiring movers was more than what I thought my stuff worth and, so, I left it behind and bought new but way too much as I now realize. Too much furniture for such a small space half of which never even gets used, stuff I have to dust, some that even has to be moved to vacuum, and all because I erroneously thought it would make me feel more comfortable in this foreign to me new space. It doesn’t. It makes me feel weighted down.
I have come to believe collectables are immoral.
But what about NFTs? lol!
@@Unterwelten Especially NFTs! :)
People who collect things are creepy. It is a sickness.
Electing to have a "no buy year" is an eye opener, for sure. when you look back over the year, you are astounded at how much money you've saved and how little you "miss" what you didn't buy.
People have been trained to buy things before thinking. Wanting things and needing things are two different things.
That's true, as soon as I remind myself how long I have to work for it I lose my appetite lol
Same 🤣
My weakness is eating out. It is a treat after I help the many people I help.
What you haven't mentioned is planned obsolescence. How many times have I bought a gadget that I just had to have, although didn't need, just to have it fail in a few months. Now I look at this stuff and just keep on walking.😂
Lately I have seen some videos being placed at my UA-cam feed like : why minimalism doesn't work and stuff like that. I am not even tempted to click on it cause many people see minimalism as owning nothing. That is total BS. Being intentional about stuff you buy, not being tempted about slogans like : buy now or it will run out of stock, best price ever blablabla. I felt for it too many times and I am going to be way more intentional. I am not doing it only for myself, my wallet but also for my kids (our next generation!). We should take care of the earth and we can do it so simple by not over consuming anymore... I am happy I have opened my eyes to this and I am trying to be very intentional about all the stuff I buy. I really like your vlog Nicole, very inspirational!
So many of these types boil down to taking care of one's future self. Love it!!!
Again great advice. I’ve also used “delay don’t deny” successfully. Being frugal can also mean more enjoyment when you decide to spend. I don’t spend on lunches and coffee and shopping I do get a bagel and chai latte on Sunday mornings at a local coffee shop. I I’ve realized how much I enjoy a simple thing. It’s about choices that truly make you happy not big spending or mindless spending for no reason. So, I don’t need stuff but spending $7 a week for something I find really relaxing is worth it.
I’m usually pretty good about being frugal. Recently I lost someone very close to me and I think because I was grieving I started impulse buying things. Little things but it all adds up. I think this probably happens to many people. I was very hard on myself when I realized how much I’ve been spending. Someone told me that I need to just forgive myself and move on. We are way to hard on ourselves which can make matters worse. So if you falter off your path a bit, own it, forgive yourself and begin again. Nobody’s perfect.
Donating the things to a charity alleviates some of the guilt. Donate it to a place that actually gives it away and doesn't charge people. Then you can look at it like a charitable donation.
So true. When my husband died at 37, I did the same. I didn't understand why until now. 20-20 hindsight
I think I'll have to make this my mantra. I quit my $29/hr job last week due to extreme bullying and harassment, and now am making $20.50/hr. Still full time, but on my feet all day, and I don't currently know if my 45 year old body can handle that. All I can do is try!
Anyway, all purchases will become a lot more....considered. I will be thinking about how much I have to work to be able to afford that thing. I'll also consider turning in my car to Chev...but I don't know if BC/the lender allows for that sort of thing. Anyway, terrifying, but I'm kind of excited to try something new!
The world according to Nicole is very good place to be. Some of your thoughts on money and life are sleepers that wake me up at the right times. Thanks for being thoughtful and sharing what you have learned and observed.
The story about the presenter you had in elementary school is powerful. I wish everybody could hear you tell it, and cause them to stop and think about it. Excellent video.
I'm more of a saver than a spender and that's how I've always been. I don't care about knick knacks, fancy clothes or jewelry. Now cookware, that is my weakness, but I cook daily so I feel that it's justified. That said, I still buy it at a discount by shopping at Home Goods or TJ Maxx.
My husband used to work for Tiffany & Co. and he was entitled to an employee discount. His friends said that I must be so excited. He said, "Not at all. If I worked for William Sonoma she would be though!!"
So young and so wise 🙌 im finding as i get older, having lots of stuff just weights you down, you are 100 percent correct! and the things that are most important in life aren't material. ❤ 🐕
I’m 31. Not that young 😂
🙌🏼
@@AccordingtoNicole That's what you think.....now. Just wait, and you'll realize just how young 31 is. Enjoy.
I saved my whole working life and it is hard to stop it now that I don't have to anymore. (retired). I do have 1 thing I don't scrimp on. The pets!
Yes! Agreed! I’ve been wise with money (not cheap but frugal in a lot of ways) and now, in retirement, I have to adjust to a new reality where I can afford more. There’s not much I want (and need nothing) but I can afford more. It is a transition I never expected to have to make. It’s nice, don’t get me wrong, but it feels unnatural to go from a saver to a spender. Luckily, I love to travel. Experiences are more valuable to me than things.
@learningisfun2108 travel is also on my list! Definitely experiences over things. I am currently working to get rid of my old work clothes/shoes/bags. And things that have been left to me need to get pared down. Minimalist at heart but not so much in reality. 😄
"Think of money in terms of hours worked versus $$$"
Damn, that's cleaver. Very thoughtful video.
The dog really can steal a scene. Adorable 🥰
I use my Amazon wish list (actually collection of wish lists by category) as things to look into maybe buying. At the time simply adding items to the list seems satisfying in the moment. Later on I will come back and review the list and I am shocked by how many of them gives me a WTF was I thinking when I added it to the list in the first place. Most of the other items on the list just stay for a time "just in case I might need it later" but truth be told in the end I think 95%+ of the items end up being deleted instead of bought in the end. While this may seem a bit complicated and compulsive, it doesn't bother me as I realize that I can be very compulsive at times, which is why I need to be compulsive about taking steps to reduce my tendency to be compulsive ;)
In a two-paycheck month my take-home pay is $2800. My monthly expenses add up to $1700. So I save $1100 a month. My monthly expenses being rent, food, electricity, internet, water, renter's insurance and transportation. It really isn't that difficult.
You have a perfect life you can not be saving $1100 month 😊
Yup that sound right. I too make around the same amount but am able to save $1600/ month and I live in one of the most expensive cities in Canada.
Thank you, Nicole. I am presently getting rid of a huge death pile so I can relocate. Blessings!
Less than 2 minutes in and you describe one of my practices -- when buying something, think about how many hours I had to work, how much time out of my life I am trading, to make this purchase. I remember a similar story from the "Little House on the Prairie" books where young boy Almanzo Wilder was at the Fair and told his dad he wanted to spend 10 cents (a lot of money back in the 1800s) for a cup of lemonade. His father told him he could spend his money however he wanted, but urged him to think how many potatoes Almanzo had to dig to acquire that 10 cents and whether he wanted to trade all that hard work for a cup of lemonade that would be gone in just a minute or two. When he thought about it in those terms, Almanzo chose not to buy the lemonade. It's fine to "buy the lemonade" sometimes, but we should stop and think for a minute and make sure our priorities are balanced.
We have entered into "No Spend November".....things that we "think" that we need through the month will go on a list, if we still think that we need it come December 1st then we will go out and grab it - but the list will be small. Great way to use up what we have around the house, and pull back in on the spending.
Nicole, I love your channel and it has helped me to refocus on the Why, instead of the What. About six years ago I started on my decluttering journey. I had stuff everywhere and one day I got fed up with myself and started to declutter…one box at a time. I got rid of 40%-50% of my stuff. I then purchased my forever home in 2020 (which like you, it was a nightmare) and decluttered another 20%ish. I only started getting serious about the budget when I retired at the end of 2020. I am now on a plan to pay off all my debt by June, 2025, except my mortgage. I would like to say I have my spending all under control but I still have my weak moments. Finding your channel, has helped me to build my backbone against my spending habits and it has made a huge difference my life. Thank you again for helping me to refocus my brain on the why of minimalism and spending and not the what!
Congratulations
I don’t know if this is a strategy or not. But I have something I want. A huge purchase. A piano. A very specific, expensive piano. $20,000 worth. I’ve opened a savings account for it and am saving up for it. It will take me about 2 years of saving. Which is ok. Because I already have a piano. So, in the time I’m saving, I’m using the time to incentivize myself to practice piano on the one I have so that by the time I have enough money to purchase the new one I will be a good enough player that I will be able to enjoy the new one fully. And if I eventually change my mind and decide I don’t want that piano, well, then I’ll have all that money in savings for something else.
I've spent 6 years being frugal because I didn't have the disposable income. I'm now approaching a point where I will have disposable income, but my need to shop has long gone and I've just decided to stick it in savings because there isn't anything I want. Shopping can be an addiction like anything else, and once you find how to ignore the hype around buying stuff, it just loses its appeal and it becomes really easy to rationalise whether or not you really need something rather than simply want it.
You would be wise to store some of your wealth in the form of Gold. And shelf stable food.
@@chrismullin8304 Yes to the shelf stable food, not so much to the gold. If the catastrophic happened and money lost its value, gold isn't going to help you. People will need shelter, food and water, not money. Also, I don't have enough to buy gold anyway.....
I've became a (real) "minimalist" several years ago (when I was 57) because I realized my retirement was fast approaching and I needed to save A LOT of money. I went back to college
(thanks to a $37,000 tax free V.A. grant) and acquired several IT certifications which enabled me to get better jobs. I've been working, making good money since, budgeting, living well
below my means, getting out of debt, investing, living "fugally" (though well) and saving at least 50% of my income.
I now have NO debt, $220,000 in savings and I save at least $2,000 every month. I'll be "semi-retiring" in The Philippines 1/2024, where I can live VERY well for under $2,000 monthly,
and with the interest from my savings, Social Security and working remotely (for a few U.S. companies) I can pay all my expenses and still SAVE at least $35,000 yearly, and this will
ensure a financially secure future for me.
Good for you ❤
I bought a garbage can that was made for 13 gallon trash bags. Now I won’t have to tie a knot on the bag because the can will take the size trash bags that i use. A little thing on the surface, . .but really a big thing when you change trash bags 10,000 times a year. The opportunity cost (the joy), of eliminating that miserable stitch in time was worth the $57 I spent . It also has a foot peddle to lift the lid. I will get a dopamine hit every time I pitch out trash from my kitchen.
Ummm…..
I used to be an auto electrician and diesel mechanic and saw people coming back to get something else repaired every two or three months. I vowed never to buy a car and it has never affected a job opportunity. I walk and cycle everywhere and it helps me keep fit, healthy and financially better off.
That is my goal. Because of what I do for a living, that is not possible for me now. But, when this career ends and I work in a little job close to home that gives me extra income, I want it to be where I just use my bicycle.
Thanks Nicole. Looks like Levi approves of the new couch. Hope he's been feeling okay.
I am with you on cars, I just need it to take myself and lunch to work and get a few bags of groceries. Here in the USA I have a hard time understanding the large vehicle fascination and putting yourself in debt 60k with a wave of a pen. My neighbor has one of these monster trucks (pavement princess) and complains that it is to big for the garage so he wants to build a bigger garage(yay more debt) My response "just get a smaller vehicle"
I am with you on these oversized vehicles on the roads and their propensity to take up space and guzzle away gas. I have always owned and driven sedans, I have zero desire or need to own/drive an SUV or monster truck
Commute by either bicycle or Ebike.
Almost 40k 🎉 I like what you said about valuing long term what you purchase. Pausing to think about that before adding to our inventory will prevent us from tossing stuff in the trash!
Awesome video. I wish I could like it twice. One thing I've observed is that the cost of things is often associated with how quickly you want that thing. If you're willing to wait for something, it can usually be had at a discount. If you have to have something today, you will pay more for it.
Most of the shit we buy turns into trash almost immediately.
Last year, I came to terms that I was therapy shopping, just buying stuff whenever I was bored. After thinking about it, I realized that I correlated boredom with specific negative feelings. Fortunately for me, those negative feelings weren't anything heavy, so I was able to work through it myself. I still buy stuff, but I buy a lot less and I'm a lot more honest about why I'm buying something.
I have a 2005 Toyota Scion that was gifted to me, rides great and $30 fills the tank up. It looks like a box but it so economical. My husband and I have not had a car note since 2009.
Gosh u are extremely skilled @ budgeting & teaching others to help them do it too. Appreciate it:)
Love your content. Always so thought provoking and insightful. I love how you delve into the psychology of it all and not just tips and tricks. I find other video's content to repeat over and over but not yours. And your clips are always hilarious. Keep up the good work!
My strategy with impulse shopping is similar to yours putting in a cart. Marketers try to freak me out by saying they're selling out but the truth is anything is re-creatable. Worst case if I leave it and it is gone then I'll outsource someone on etsy to recreate it
I often use Amazon to create lists for Christmas or Birthday gift ideas for others when they ask me what I want. I find myself though usually going through those lists and deleting items that are no longer needed or appealing, which surprisingly happens at least 50% of the time.
The market timing of buying the peak of March 2022 a detached home in Toronto wiped out more than spending on various fun.
Totally agree with you. I go out for plain Coffee and a freshly made Cranberry Oatmeal Muffin most mornings, because I need to get out of my apartment and speak with other Humans. This is a mental health necessity. It's a small family-owned Café and I do tip - modestly - when there's a hired college student batista. Otherwise I rarely eat out - maybe once every 2 months. I tip around 15%. I do notice Tip Jars almost everywhere - grocery stores, bakeries, dry cleaners...everywhere. I just ignore it.
When I was single , all I had was my old mustang, a bed, a dresser, a bench and a set of weights and life was simple. No attachments and I could move in that car anywhere I needed to at any moment. Now, there is so much crap that weighs me down, and it is difficult to move because of it.
Lol I'm dying!!! When you were in the all white room and said oh s#*t I spewed my coffee and laughed till tears were running! Love it 😂❤😂❤
I have been really wanting to buy some new clothes since the weather turned cold. Yesterday I was going through a bag of winter clothes I had put aside to take to the thrift store. The clothes have been bagged up for months, but I have not made it to the thrift store. Upon closer inspection, I realized there was nothing wrong with the clothes. They fit, look fine, and are appropriate for my workplace. There were a few of casual tops in the bag, too. So, I had a little fashion show this afternoon and made outfits with other items I had on hand. That pretty much nipped my urge to shop in the bud.
About your jeans comments, i would like to share something my wife and i learned a few years back. We was not happy with the life we was getting out of our clothes, especially our bath towels.. we was using bleach and detergent for washing. After a while we decided the bleach was the culprit. We tried something new by replacing the bleach with white vinager. We discovered that it works great. We both wash all our clothes with it now. The vinager scent was a big concern but it turned out the smell was gone after washing and drying.
I’m really curious as to why you were using bleach in your laundry. Was this with every load of washing?
I teach high school economics and opportunity cost is chapter 1. This is a basic economic concept that few understand. They look at the price of the item and that’s all. Your videos are amazing and I might show a few clips in class if you don’t mind.
A new video! Yay! Thanks, Nicole!
Similar to yourself, I use the method of calculating how many hours I would need to work to buy something. Also, I learn from my mistakes. I have a numbers of books and DVDs that I purchased that are brand new that I never watched! There are also some items that I do not use frequently but do not regret buying, such as my bowling ball and bowling shoes. I never had the desire for fancy clothes, luxury cars, or jewelry, but my biggest expense in my life was the amount of money I used to spend on alcohol (I am over 19 years sober as I write this).
Thank you for reading, Nicole! Have a good day!
Deja vu: A friend quoted Fight Club to me last night! The things you own end up owning you!
I so appreciate people who buy cars brand new so that I can buy it four or five years later for less than half the new price. Let's have a cheer for those people.
Interesting video. Made me think. Yep a lot of the stuff I’ve bought in my lifetime was bought because I wanted to fill some need in myself, not for the object itself. Maybe the key to not spending is to figure out what that need is and fill it the right way and not with stuff. ?
Excellent job Nicole-thanks for posting! I recently retired and followed many of the practices you discussed here throughout my working career. Modest purchases that fulfill the practical need (car, house, clothing, etc.) is key to saving for future items. And when you have the money to buy or pay off those larger future purchases you’re further ahead. Similar to what you mentioned about putting items in a cart and letting them marinate, I have a couple of lists in iPhone Notes. One is a shopping wish of things I impulsively think I want. The other list is titled gift suggestions (birthday, Christmas, anniversary, etc). These are somewhat luxury (don’t absolutely need) but practical. The first list marinates until an opportunity (sale on new or finding a good used item). Most of the time I drop items off the list because the want disappears or I’ll discover an alternative method to satisfy the situation.
iPhone? Why?
@@crimestoppers1877 …because ice cream doesn’t have bones.
Am I an actor in the movie Idiocracy?@@toolguybak
I AM SURROUNDED BY AND DROWNING IN SHIT I REGRET ACQUIRING.
CAPS INTENDED; ENRAGED.
THROWING SHIT OUT WHILE LISTENING.
THANK YOU FOR YOUR TIME.
Levi is loving the new couch. ❤
It’s his new couch apparently. Sometimes he shares it with me.
You are a brilliant woman. Everything in this video is spot on. I especially love your point about looking at the future cost of any item (the $1,000 you spend today means $8,000 that future you will not have.) Not many people address this issue when talking about personal finance, and it is SO important. I know few retirees who could not use an extra $8,000.
I have a 2010 RAV4. I love my paid off car. 116000 miles. So it’s still got another 116000 to go.
You did a great job explaining. I feel the same. I, genuinely, don't care about most things, and very few understand this concept. 😊
8:24. I think this every time I drive by an auto scrap yard. Just a few years before, these rusting hulks were sitting in dealerships, being drooled over by people, who would go into crippling debt to purchase them. They would be parked in driveways, and polished every Sunday, and be the envy of the neighbours...for a few months, until the neighbour got a newer model. Within a few years, they were traded in, or handed down to a poor family member. Later still they were discarded and shipped off to be scrapped.
I made my worst financial decisions (ended up with shopping addiction) years ago, because I didn't know how to cope with my job from hell (3 years). I am currently recovering financially and emotionally in my new job. I'm gobsmacked that I was so affected by the toxic work environment to the point that I ended up in debt from stuff (mainly clothes). Why did I even accept that much available credit to begin with? I am a lot better now with my spending, but I find myself constantly online browsing with no logical reason. I think I'm still burned out that I don't want to think about anything, nor do any effort to get instant dopamine. Hobbies are slowly coming back to my life now that I finally have my work life balance, but it will take awhile.
That's called emotional blunting- avoiding emotions by mindlessly scrolling, looking for something that will give you that brief dopamine hit. (I know this because I did it when my parents passed away.) Therapy and exercise helped me, but at least you have the insight to recognize you're doing it. That makes a massive difference in guiding yourself in the right direction. 👍
Emotional blunting. Now I know what this problem is called, thank you 👍
@@clarity256 Sure thing, best wishes!
Hi Nicole!🤗 I’m a new subscriber, and I am also 68 yrs old. I have to say I’m enjoying your videos and learning a lot. I wish I could get my millennial and Gen Z grandchildren to listen to you! I even have a 52 yr old daughter that desperately could use your common sense! Keep posting! Good luck in all you aspire to!😊
The things you are talking about are things all children should learn in school…credit scores, personal finances, investing and saving money, and stop spending money you don’t have on things you don’t need. You are miles ahead of most people your age with the wisdom you already have.Love your channel!
I'm Brazilian and discovered your channel a few days ago and i've been watching it non stop for the last few days! Love seeing the tips you share!
You hit the nail on the head. I used to buy a Starbucks Frappe almost every day in the summer.. a friend pointed out how much of an hour's pay I was spending on this drink....AND I'm a senior who only works part time and who relies on government pension. That changed my perspective completely and I now take drinks from home. I make a better and healthier Frappe anyway at a fraction of the cost and my money stays in my bank account. This is the way to go as it's a wake up call. Thank you for sharing this. Cheers from Ontario.
I really enjoyed this episode , gave me so much food for thought. And am guilty of many stupid purchases which now I say what was I thinking? Anyway here is a great tip I learned from my daughter.
Put your credit card in a ziplock bag and put it in a plastic container filled with water in the freezer. When you see something you think you want or need wait a week or 2 and then go to the trouble of defrosting.
Makes you think.
Love your content.😊
Hi Nicole, thank you for your uploads. Superb. Please write a book. Then go to schools and colleges and educate the next generation. You are a natural speaker.
lol if I went to colleges and universities I’d tell everyone to stop wasting their time and money at college and university. I wouldn’t be welcome there for long.
Nicole, do I see that the new couch/sofa has arrived and has its own doggie blanket for Levi.
I'm new to your channel, have watched several videos, basically everything else on you tube has been kicked to the curb now. I love your content, delivery, insights and wisdom. Thank you for all you are doing.
I use to go to every thrift store and garage sale looking for bargains or treasures, buying things that weren't necessary. One day it all looked sad, all the STUFF people had used their time (life) on. I do still purposely shop for things that I actually need (used is fine).
To declutter at home I found it easier to let things go by letting someone else get use of the items, I label the box or bag PIO, Pass It On, it relieves some of the guilt for having used my money on things I don't really need
Wow.... All great points in which I follow myself. So nice to come across people who have the same mindset💥💯
Your first point about thinking about cost related to hours worked is a very good tactic. For myself, however, I'm retired so this doesn't work. I do however, lead a frugal lifestyle and will sometimes deny myself and delay making purchases. Recently, having put off replacing a winter coat which only had one button on the front, and was also rather thin, I located a nice coat on clearance sale. It was 75% discounted, costing about $75. Now I don't have to freeze my butt off when I go out to tend to my chickens. The waiting paid off. I live in Norway, and it gets quite cold here in the winter as you can imagine - about 64° North, which is like Anchorage, Alaska.
I really enjoy your videos and subscribed to your channel a couple of months ago. You have very good content and present your message well, and best of all, you don't say, 'like, y'know' constantly. Thank you.
Watching your videos has really made me think about money and the options I have in every situation.
In the UK we have the option to take our corporate bonus as cash, taxed at 40%+, or we can do what's called salary sacrifice and put the money in to our pension plan *tax free*.
I used to see the bonus as free "fun money" and take it as cash.
I already have cash savings I can use if I really need to buy something, say a phone or computer . Now I put that full bonus payment in to my pension to get the tax free amount to allow me to retire earlier.
Henry David Thoreau had many great quotes on this topic. Here are a few.
“The price of anything is the amount of life you exchange for it.”
“Superfluous wealth can buy superfluities only. Money is not required to buy one necessary of the soul.”
“Wealth is the ability to fully experience life.”
“A man is rich in proportion to the number of things which he can afford to let alone.” - Henry David Thoreau
I generally only buy what I really need, but I did impluse buy a miniature skeleton recently because it was so dang cute!
I’ve used the same analogoy since I was a poor teen. Works very well.
I window shop online - I look around at things, and then don't end up buying anything. When I do need to buy something, I'll shop around online to find a quality product for a fair price and either buy online or in-store
Excellent tips. I just bought a $15 hanging closet organizer to replace a $1200 chest of drawers. They both do the same thing! Why do we need a huge heavy wooden box for some tshirts socks and underwear? We think we need stuff that we actually do not.
I discovered that the builders of my little old house had enclosed the hot water cylinder within a huge space. I cut some holes in the wall and added shelves. ✅✅✅
Great video Nicole!!! Sending it to my loved ones!!!
Thank you for another great vlog post, Nicole. I find that my ever-growing wishlist collection gives me so much enjoyment that I don't actually feel the need to purchase the vast majority of the items on it. I've even deleted many items from it that I decided, upon further reflection, I didn't need or want badly enough ever to justify the expense. Decluttering my wishlist is so easy!
During the early days of the lockdown, that's when I started stopping myself from impulse shopping, or at least being a bit more mindful. The word "essential" was used a lot, so I started to stop myself before going out, and think for example, "is it really essential that I go to Walmart to get that zip jacket?" especially when I already had a lot of little jackets and pullovers as it is. I went through a lot of the things I already have and no longer use and donated quite a bit once places were accepting donations again. I also started organizing our stuff in here - our attic, the spare bedroom, etc. For background I would accumulate a lot of crafting and thrift store items and costume wigs, as i used to go to conventions with my daughter and cosplay with her. I went to a few things after things started opening up again but I found that I lost interest for the most part. We started this when she was 7 and she will be 18 next month. She still likes cosplay and still has interest, and now has friends that do too, so I will hold onto some of those items, but now I'm in the process of going through things again realistically and if things don't fit us or her friends or I can't repurpose it for an outfit or for Halloween, or that character is not being cosplayed anytime in the foreseeable future, it has to go. as far as wanting other items, I have been doing the Wishlist/Save for later/ or leaving it in the online shopping cart for later and I haven't been buying as much online. I'm a cluttered mess, I start projects and don't finish them a lot of the time, or I'm too tired. So I'm trying to downsize, save money, and de-clutter. Giving pause to think about what's really important really helps too and I want to focus on other interests.
I've really been enjoying your videos Nicole. Thanks for the great content.
I subed because it's nice to hear someone thinking more on the rational side of things. I agree with most of what you're saying.
I got a car I'm not totally happy with either, but it runs great and it's almost paid off. Why waste thousands more on something that would fill in that 10% happiness gap? In fact, that "sacrifice" in comfort has saved me around $20,000 over 5 years, all things considered.
Maybe if more people start thinking harder about their needs vs their wants, some of these companies would stop trying to scam people all the time.
I know. Wishing thinking at this point I'm afraid.
My favorite finance youtuber - I love & 100% agree with what you say: life is about abundance not deprivation.. For me it's like a weight lifted off my shoulders when I'm not worrying about things to buy, and just step back and observe :)
I use your strategies such as placing the item in my cart. However, I also never shop hungry, sad or angry. If I do I trend to buy things I may not have if I was feeling better.
Thanks, Nicole!!
Thank you for this video! I have reached this point, and these are great suggestions.
always great ideas Nicole, thanks for sharing
I drive a 2004 Saturn Ion that turns 20 next year. I got it from my cousin's wife's dealership with a rebuilt title because it had flood damage or something (never noticed anything wrong) and it was like $4k but I got a $1k discount for paying cash. I had to buy a car because my truck got rear ended and totaled (it was a 94 Chevy S10 that was like 14 years old). GM (owns Chevy and Saturn) stopped making S10s and Saturn Ions because the engines lasted too long (built before planned obsolecence) so I've heard.
I am saving this video to replay as needed.