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Libraries are not free, I mean, we can't exactly opt out of them, but they do have a cost, that we are paying, so they are a value to use, but not a free service.
@@sprinkle61 I assume your point is that these are a public service provided for out of taxes. Still makes them a heckuva lot cheaper to use than buying all those books and other services as an individual. :)
@@goddessmel8518 You are assuming the only other option is to buy each book or other media for full retail, but if there were no libraries, its very likely some private rental company would pop up and offer the same service at a much lower cost, AND you only had to pay if you used it, unlike libraries, that you always have to pay for, and then you NEED to use them, just to get some of the value back for your tax dollars !
For me the big one is to hold off on buying things whose price comes down rapidly. This is especially true for tech. I never buy the latest and greatest, but rather I buy last gen. These days last gen tech is usually still very good, but it doesn't carry a premium from being the currently hyped thing. Another is games. Game prices come down very quickly, so never buy games new. Instead, buy last year's games on sale. And of course, cars fit this as well. Another thing I've started doing is spending less on gifts. I used to go wild buying really nice gifts for friends and family, but I think material possessions aren't what make us happy. They're happy for a day and then the gifts get forgotten. Spending time together is more important and what makes people happy.
I just think it's crazy when you can buy a perfectly solid car outright for a fifth of a new car price. Also if you can drive a stick it's almost always cheaper and few people will ever be able to steal your car.
This was my case. I sold my truck four days ago, cancelled the insurance (i work from home), warranty, re-budgeted and created a game plan. Next month - everything changes. With the new money that got freed up, i will get a house in the next 2 years. It now doesn't feel like I am gasping for air. I've also got two cars that i can work on getting running so my next car is one of these two. No new car.
Amazing content! I've been following your videos for some time now, consistently kicking down Wall Street doors for two years. I have over $130k in stocks and dividends. Currently, my portfolio is down by 15%. Wondering if there are any short-term opportunities I can invest in.
I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
Cheap clothes is debatable, more about the manufacturer than the price. I have some cheap clothes that have lasted me a while, and some more expensive that are already breaking down. Its not so simple sadly in my experience. Generally I prefer to buy reputable clothing companies on sale.
Jeans are a terrible example, because denim is denim, for the most part, and they don't have radically lower life spans than other jeans. Another dirty little secret is that most clothes are made at the same factory, so the build quality is mostly similar, UNLESS a certain item was designed from the start to be garbage. I scavenged a women's belt that was sort of 'fashion-y' and not 'normal belt-y', but it fell apart in a few months. It turned out to be made of cardboard instead of leather. Clearly, that type of built in bad quality should be avoided when you see it, but for the most part, clothing tends to have similar lifespans, regardless of price.
I think his point still stands though, since clothing was just an example.Just bc you consider cost/wear, doesn’t mean that all expensive pieces of clothing will be better than cheaper ones. Like you said, some manufacturers might have a good cost/wear so it’d still be worth buting
Your experiences are very similar to me, and I'm twice your age. I would give my advice as follows: 1) If you desire something new, say a smartphone, then wait 6-12 months, buy it at a discount cash (not with a payment plan) or second-hand, you can save from 30-70% if you find the right deals, and it's still modern and new. 2) I have a house rule, if it's not used for the last 2 years - then it's gotta go. This keeps the home clutter free, and you can focus more on the things you want to do and need. 3) When buying things like clothes, consider work-brands, meaning those that are sold to businesses and workers to wear, I use work-shoes but they don't look bad at all, a little more expensive than regular shoes, not as expensive as high-street brand, and they literally last forever. There are other things too, like not just focusing on how much you earn, but more how low your expenses are. Always squeeze. Can you get a cheaper subscription? Do it!, Do you need that subscription? Ditch it. Always save up for stuff instead of buying it on credit (should be obvious but people are consumers), follow step 1) buy it 1 year later, and you will not only save interest but a TON of money because the early adopters have already spent everything on it - the enterainment value stays the same without the costs. Buying second hand is actually really good. It means the product is tested, and it didn't fail the first few months, so the likelyhood of it breaking is very small. Want an electrical car? Sure, but buy with your brains rather than your heart. Sure you want a 1000 horsepower car that can take you cross-country that ONE time a year you decide to drive on a vacation, but consider how much and how far you drive every day, also an EV might not even be for you if you only use your car a few times a month, then even the cheapest EV is expensive, buy a used ICE beater instead. Do you really need to live smack in the middle of the city? You could live 10 times cheaper and with fresh air. Good for your health, and good for your wallet. You don't NEED high value in your property if you don't plan to move often, and it's very normal to work on distance these days. Make sure you have fiber-internet where you move, and you won't even miss the buzzing life of alcoho...I mean city life. I could go on forever, I just want to say, you're one of the people I agree with on youtube, because most of your advice are actually real life advice people should listen to. Because they work, I know, I'm an old fart that have learned this the hard way over so many years.
With phones, it's sometimes cheaper to finance than to pay cash. I once looked online at a new phone (out of curiosity, no intention to buy since my current one is still good). The carrier had a financing offer where the total payments added up to about $400. The cash price was about $700. I clicked through both options, and the plans cost the exact same for both. Had I actually been looking for a phone, financing would have been a no-brainer that cost me less in the long run.
@@Riverbend1752in Canada, that’s the case when the $400 total payments no interest plan also binds you to that company for the term. Let’s say it’s 2 years. Even if you then pay off that total $400 early, the “tab” of the amount you saved continues counting down for the remainder of the 2 years. Which is peachy unless you want to change phone companies, then that amount you saved would then have to be paid. So you sell your freedom for a discount basically.
Disagree with purchasing refurbished electronics. I worked in a tech store and the amount of laptops coming in after a few months of use and discovering they are refurbs is very high when compared to new laptops. That's why I never purchase a refurb computer; seen too many problems.
Yeah, that take was so insanely naive. Companies will just find ways to not have to cover repair cost by blaming damage on customers. Apple is notorious for this.
I'd say only buy refurbished products from reputable sources with a good guarantee. I've purchased several refurbished products and they're all doing great, including the phone I'm typing on rn
@@kevinbonilla3959what are some good sources for refurbished IPhones. I have an 11 and I think I’ll have to upgrade by next year. I want to just pay cash.
Thanks for the bathtub idea. 👍 The two things I follow to keep my discretionary funds in check; 1. buy once, cry once. As you said in the video, I would pay extra for a better quality product that will last me a long time. I bought an IBM Thinkpad X61 Tablet in 2006 that cost me just over 2100.00 CDN. To this day, I am still using that laptop to trade stocks, charting software, and do my everyday tasks. 2. With any big (non-reoccurring transactions), I make sure I have the cash on hand. I make the purchase to collect the points, upon arriving home, I settle that transaction with the cash. Thus, I don’t have to worry about it when the statement comes. If I don’t have the cash on hand, I will wait until I do. It’s a win-win situation, as the wait time to come up with the cash may eventually change my mind, as it could have been an impulse buy.
I get clothes/shoes/purses from a second-hand shop. Every so often I find designer goods in my size. And some of the items have never been used or at least look brand new. My last purchase was new $10 Le Coq Sportif sneakers. I also got a newish $30 Coach wallet that was cheaper than nondesigner wallets from other stores. It’s leather and has lasted a long time. Tech is the only thing I have to really save up for cause I won’t buy it second-hand.
I see that ‘buying on sale’ with my own mother, she grew up in a big family and it was back in 60s Ireland when they had nothing at all. So, she will almost never not buy something that’s on offer now, because she ‘hates to miss a bargain’ - when I last checked I stopped counting at 25 shower gels. There’s also a kettle in the attic for when our current kettle (which works absolutely fine!) stops working🙃 and she hates spending a higher number on things, preferring to buy a lower cost item that won’t last as long. I don’t know where she got me from - I avoid sales like the plague and prefer to spend more money on things in the hopes that I’ll get years out of them! The only thing I buy cheaper is socks and underwear 😂😂
I agree with so much of what you said!! The most important thing I have learned is to buy what you need, at the cheapest price you can (on sale or used) and the highest quality you can afford so it will last, and buy a classic look that never goes out of style. Regarding the vacuum….i tested Dysons and I think they are overrated for what you pay! They are the quality of a Shark with the price tag of a Miele. I have had a Miele vacuum for 10 years and I love it!!!
A big expense I didn't need was a car. Sold it a decade ago and saved so much money from repairs, oil changes, insurance, and paying the car off! I live in a large city, so I always use public transportation, bicycles, or I just walk.
I've been using the exact same strategy for giving gifts for the past 7 years. Everyone loved it and the first thing they'd say after receiving my gifts was: "I can't believe you remember that I like this"
Lol the gift writing down thing isnt common sense/knowledge? I thought we all do that. I have a list on my phone for all my friends and family. And pick up things when i see them in stores, at craft shows or yard sales, etc that remind me of that person or something they would like. I put it in a special tote in my basement and when christmas/birthday roles around, i take out and wrap everything. Usually by christmas, i only need 1 or 2 gifts to round out someone. Makes christmas shopping a lot less stressful or what i would think compared to what people always say.
I don't get the idea of choosing funds with lower costs. I would think that the funds that perform better than the low cost funds are right to charge extra. as long as you make more in total, the more expensive funds could be worth it.
I would take your jeans example one step further. Poor-quality jeans for $20 die after 20 washes = $1 per use. Good-quality jeans for $50 last for 100 washes = 50 cents per use. My version is to thrift good-quality jeans in good condition for $15, they last for 100 washes = 15 cents per use. And it reduces the production of new clothes, which use so many resources. Apply this method to household goods you think you need but end up never using, like Instant Pots, and you've only wasted $10.99 instead of however much a new Instant Pot costs. New subscriber and loving your channel. :)
Credit cards and car payments are for chumps. I use money that I actually have to pay for stuff, and drive 2 nice Hondas (Civic Touring Edition and Ridgeline Truck) that I paid cash for. Boring, and nothing fancy, I know, duh, but it’s obvious. Buy quality stuff. Buy once cry once.
Credit cards are one of the best ways to build and maintain credit while showing you are a good borrower for that future purchase where you will need both.
As long as you use it responsibly its good because without it your credit sucks. Without good credit if something happens they don’t have any track record of you borrowing and paying back. Unless you have friends that you can borrow from then you will be up crap creek without a paddle.
I started a new job and setup accounts to max out 401k contribution, maxed HSA which is about $4500 this year and moved $7000 into my IRA. I was annoyed when my employer didn't offer VTI/VOO or FXAIX but it turns out they offered a similar mutual fund with 0.0075% management fee. Really wish I knew or did all this in my 20s, but better late than never.
I've just started watching your videos and they're giving some great advice on saving money. But the graphics can be hard to read at times as they look blurry with the RGB channel shift.
One way my family had all the gift giving luxuries without the cost is would celebrate for real after the holiday, maybe just giving a token gift on the holiday. The result was huge savings and more gifts to boot. As one example, for Valentines Day we would celebrate it a few days later when the boxes of chocolate 90% off etc.
Glad I discovered your channel man. It’s easy to be overwhelmed by the over-saturation of info out there but I learned to find what speaks to you. Connection. I understand your approach and I’m going to put it into use. Thank you!
Seconding the green tea! I have never been a coffee drinker but I drink 3-5 cups of green tea on work days (minimally steeped, so not a ton of caffeine, just enough for flavor) and it's great! ...And yeah, I steep the same bag all day. You can judge if you want, but it's so much better than going through a package of tea in no time at all.
How do you know when something is going to falling apart regarding stuff you want to buy? I have a lot of clothing which was cheap but lasted very long
It depends. Sometimes you have to spend more to get quality products that will last for a very long time. You have to look at the big picture when buying things - not just because it is cheap
I have always bought the absolute cheapest pair of jeans and I am extremely hard on jeans because I ride horses and go through all kinds of things that can catch on them and rip them. But my jeans last usually around at least 5 to 6 years.
One thing to consider is that 7 or so high flyer stocks make up 30-40% of the S&P 500 so a passive fund without these certain stocks might be a thought, or split it. On the plus side your intuition and energy are better when you don't drink. Here is a rule- you don't need anything. Put it in the mutual fund.
Never in either my undergrad or grad school ventures did I ever meet someone who bought new textbooks when a used option was available. That’s just not a thing.
@pawlieblog7967 Yes my friend in Canada they have it free and they even give you monthly allowance per each child. I beleive about $400 per kid a month.
Credit cards can be a great way to save or ruin you financially, it's a tool and depends on how you use it. For most people a 2% card like Citi Double Cash or Fidelity card is good because you save 2% on everything and don't have to think about it. I pay my credit card every 3-5 days from my checking so I don't go crazy spending and it feels like a debit card in that way.
A lot of people will say, you need a credit card so you can build good credit. And it’s true, using a credit card (smartly) is a great way to build credit. However it’s not the only way to build credit. Student loans, sometimes your utilities- and whether you pay it on time- can impact a credit score. I spent 27 years without a credit card and still had a great credit score when I did finally get one. So it’s technically not necessary, however, if you’re smart with money, and treat your credit card like a debit card (not spending money you don’t have) Getting a credit card shouldn’t be an issue but you don’t NEED it in life
I bought 3 PS3s used and 2 of them failed with red light in less than a year. I had a similar experience with a refurbished PS2 and a PC (the PC was functional but with a terribly slow hard drive) I would not buy refurbished unless new models are scarse.
where do i buy refurbished quality tested products from tho? ik you mentioned the company, so is there really a company say for tech items where I can buy sth that was once used but now is tested to work? I'm down to buy old things as long as ik it's functional, but afaik, 2nd hand things are bought from independent sellers and not companies. Also I'm planning to buy a new phone, so if anyone has any advice please enlighten me
Can concur on the financial advisor. From a well respected brokerage, they went all in on IT mutual funds and all of them crashed and havent recovered for years. Lost a significant amount before i dropped them and did it myself. Im up now just sticking to dividend and etfs. So even i did better then the 'experts'.
Personally, I buy phones and tablets, because of the software support which is mostly guaranteed for 5 or 7 years from the release date. If I buy such a thing and it lasts me a long time (I don't care about having the newest tech at all) and I also buy quality as the hardware has to last as well (currently writing from samsung galaxy S22 while having tab s10+ nearby).
I am Austrian, but I have the Asian glow too. Funnywise it did start when I was around 30 years old. After 30min it is gone and I can drink the whole night. But my body does feel sick even days after. So now I only drink alcohol even here and then.
STOP RECCOMENDING CREDIT CARDS FOR REWARDS! Such a bad idea, you will not become a millionaire or build wealth by chasing small rewards. Everything else is gold, just frustrating watching financial "Guru's" giving bad advice
or you know take care of your cloths then the so called "cheap jeans" can last even 2000 wears while sometimes the more expensive one can rip more easily if you careless so really its up to the person too how much they take care of their cloths and things also EDIT: omg can you stop having so many apps and services as ads in your video its really annoying and just lame and sad that you do it, you talk about money but being so greedy to make money off of youtube typical investment channels
I just spend 3k on a espressoachine. There's no way to justify it, any other than espresso has become a hobby 😂 this was probably not a good financial decision.
@@VincentChan I love coffee. 😅 I already make it at home. There are rare occasions I drink it in the afternoon. + I don’t care for the taste of green tea
@@VincentChan I'm currently drinking a brand called Jade Leaf I found on Amazon. It's my first brand, so I have nothing else to which to compare, but I don't dislike it.
@VincentChan lol get yourself two specialty bags one decaf one caff, grind it up, scoop out equal parts and now your cup has just enough caffeine to ride out for awhile without the crash! Herbal tea is perfect for evenings, but nothing beats that coffee taste... give back into the addiction! lol
Dang you talk about 1000s of bucks of account balance. At Hungary, the teachers' YEARLY salary is about 2k, that money for teaching is hilariously little money, but sadly true.
I had a chinese suitemate in college who had the asian glow XD he would be beat red and sweatty when trying to drink. Alex miss you bro, hope youre doing good!
well duh sales are good if its for an item you truly need... if you only buy something because its on sale and not because you actually need it then you are a fool and never gonna save money
🏆 Discover How to Save 3.8x More Money with Financial Automation - Join My FREE Challenge Starting July 1st! Limited Spots Remaining → learn.vincentchan.co/
💵 Join over 20,000 people and save money faster with my FREE Savings Goal Tracker → vincentchan.co/savings-tracker
💸 Earn up to 5.25% APY with the Best High Yield Savings Accounts → vincentchan.co/best-savings-accounts
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Libraries have so many free resources like music, movies, educational courses. Don't sleep on libraries!
for sure!! libraries are awesome
True words 👍🏽
Libraries are not free, I mean, we can't exactly opt out of them, but they do have a cost, that we are paying, so they are a value to use, but not a free service.
@@sprinkle61 I assume your point is that these are a public service provided for out of taxes. Still makes them a heckuva lot cheaper to use than buying all those books and other services as an individual. :)
@@goddessmel8518 You are assuming the only other option is to buy each book or other media for full retail, but if there were no libraries, its very likely some private rental company would pop up and offer the same service at a much lower cost, AND you only had to pay if you used it, unlike libraries, that you always have to pay for, and then you NEED to use them, just to get some of the value back for your tax dollars !
For me the big one is to hold off on buying things whose price comes down rapidly. This is especially true for tech. I never buy the latest and greatest, but rather I buy last gen. These days last gen tech is usually still very good, but it doesn't carry a premium from being the currently hyped thing. Another is games. Game prices come down very quickly, so never buy games new. Instead, buy last year's games on sale. And of course, cars fit this as well.
Another thing I've started doing is spending less on gifts. I used to go wild buying really nice gifts for friends and family, but I think material possessions aren't what make us happy. They're happy for a day and then the gifts get forgotten. Spending time together is more important and what makes people happy.
I've found food is the best gift. Invest in baking skills and you'll have a lifetime of cheap gifts.
Car loans are probably one of the biggest things keeping people broke. If you can barely make the payment, how could you buy the car?
So they can keep up with the Jones probably.
Yeah, but I got a hellcat!! 🤑
I just think it's crazy when you can buy a perfectly solid car outright for a fifth of a new car price. Also if you can drive a stick it's almost always cheaper and few people will ever be able to steal your car.
Cars are way too expensive rn
This was my case. I sold my truck four days ago, cancelled the insurance (i work from home), warranty, re-budgeted and created a game plan. Next month - everything changes. With the new money that got freed up, i will get a house in the next 2 years. It now doesn't feel like I am gasping for air. I've also got two cars that i can work on getting running so my next car is one of these two. No new car.
Amazing content! I've been following your videos for some time now, consistently kicking down Wall Street doors for two years. I have over $130k in stocks and dividends. Currently, my portfolio is down by 15%. Wondering if there are any short-term opportunities I can invest in.
I think the safest strategy is to diversify investments. But if you need proper advice, consider speaking with a financial expertise. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
Impressive gains! how can I get your advisor please, if you don't mind me asking? I could really use a help as of now with my portfolio allocation.
My CFA, Judith Lynn Staufer, is a renowned figure in her field. I recommend researching her name online; you’ll find all her credentials and everything you need to work with a reliable professional. With many years of experience, she is a valuable resource for anyone looking to navigate the financial market.
Thanks, I just googled her full name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.
Cheap clothes is debatable, more about the manufacturer than the price. I have some cheap clothes that have lasted me a while, and some more expensive that are already breaking down. Its not so simple sadly in my experience. Generally I prefer to buy reputable clothing companies on sale.
agree, I have two pair of Pairs Blue brand jeans that Ive had over 20 years. Only paid 10 bucks each.
Jeans are a terrible example, because denim is denim, for the most part, and they don't have radically lower life spans than other jeans. Another dirty little secret is that most clothes are made at the same factory, so the build quality is mostly similar, UNLESS a certain item was designed from the start to be garbage. I scavenged a women's belt that was sort of 'fashion-y' and not 'normal belt-y', but it fell apart in a few months. It turned out to be made of cardboard instead of leather. Clearly, that type of built in bad quality should be avoided when you see it, but for the most part, clothing tends to have similar lifespans, regardless of price.
I think his point still stands though, since clothing was just an example.Just bc you consider cost/wear, doesn’t mean that all expensive pieces of clothing will be better than cheaper ones. Like you said, some manufacturers might have a good cost/wear so it’d still be worth buting
agree, had both a store jacket for $100 and a thrift store steal for $5, both are holding up pretty good several winters now
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
Your experiences are very similar to me, and I'm twice your age. I would give my advice as follows: 1) If you desire something new, say a smartphone, then wait 6-12 months, buy it at a discount cash (not with a payment plan) or second-hand, you can save from 30-70% if you find the right deals, and it's still modern and new. 2) I have a house rule, if it's not used for the last 2 years - then it's gotta go. This keeps the home clutter free, and you can focus more on the things you want to do and need. 3) When buying things like clothes, consider work-brands, meaning those that are sold to businesses and workers to wear, I use work-shoes but they don't look bad at all, a little more expensive than regular shoes, not as expensive as high-street brand, and they literally last forever.
There are other things too, like not just focusing on how much you earn, but more how low your expenses are. Always squeeze. Can you get a cheaper subscription? Do it!, Do you need that subscription? Ditch it. Always save up for stuff instead of buying it on credit (should be obvious but people are consumers), follow step 1) buy it 1 year later, and you will not only save interest but a TON of money because the early adopters have already spent everything on it - the enterainment value stays the same without the costs.
Buying second hand is actually really good. It means the product is tested, and it didn't fail the first few months, so the likelyhood of it breaking is very small. Want an electrical car? Sure, but buy with your brains rather than your heart. Sure you want a 1000 horsepower car that can take you cross-country that ONE time a year you decide to drive on a vacation, but consider how much and how far you drive every day, also an EV might not even be for you if you only use your car a few times a month, then even the cheapest EV is expensive, buy a used ICE beater instead.
Do you really need to live smack in the middle of the city? You could live 10 times cheaper and with fresh air. Good for your health, and good for your wallet. You don't NEED high value in your property if you don't plan to move often, and it's very normal to work on distance these days. Make sure you have fiber-internet where you move, and you won't even miss the buzzing life of alcoho...I mean city life.
I could go on forever, I just want to say, you're one of the people I agree with on youtube, because most of your advice are actually real life advice people should listen to. Because they work, I know, I'm an old fart that have learned this the hard way over so many years.
With phones, it's sometimes cheaper to finance than to pay cash. I once looked online at a new phone (out of curiosity, no intention to buy since my current one is still good). The carrier had a financing offer where the total payments added up to about $400. The cash price was about $700. I clicked through both options, and the plans cost the exact same for both. Had I actually been looking for a phone, financing would have been a no-brainer that cost me less in the long run.
@@Riverbend1752in Canada, that’s the case when the $400 total payments no interest plan also binds you to that company for the term. Let’s say it’s 2 years. Even if you then pay off that total $400 early, the “tab” of the amount you saved continues counting down for the remainder of the 2 years. Which is peachy unless you want to change phone companies, then that amount you saved would then have to be paid. So you sell your freedom for a discount basically.
@@M_SC That's fine though if you have no intention of switching companies for the term.
Disagree with purchasing refurbished electronics. I worked in a tech store and the amount of laptops coming in after a few months of use and discovering they are refurbs is very high when compared to new laptops. That's why I never purchase a refurb computer; seen too many problems.
Yeah, that take was so insanely naive. Companies will just find ways to not have to cover repair cost by blaming damage on customers. Apple is notorious for this.
Do you think refurbished phones are worth buying at all or laptops are worse to repair?
I'd say only buy refurbished products from reputable sources with a good guarantee. I've purchased several refurbished products and they're all doing great, including the phone I'm typing on rn
@@kevinbonilla3959what are some good sources for refurbished IPhones. I have an 11 and I think I’ll have to upgrade by next year. I want to just pay cash.
@kevinbonilla3959 same here I purchased all my devices on apps like Amazon and ebay just make sure you look at the reviews and rep before purchasing
This video is mostly ads.
None of the strategies are particularly helpful either. I don't drink coffee, alcohol, buy luxury items, expensive gifts, etc.
This video isn’t really helpful.
Thanks for the bathtub idea. 👍 The two things I follow to keep my discretionary funds in check; 1. buy once, cry once. As you said in the video, I would pay extra for a better quality product that will last me a long time. I bought an IBM Thinkpad X61 Tablet in 2006 that cost me just over 2100.00 CDN. To this day, I am still using that laptop to trade stocks, charting software, and do my everyday tasks. 2. With any big (non-reoccurring transactions), I make sure I have the cash on hand. I make the purchase to collect the points, upon arriving home, I settle that transaction with the cash. Thus, I don’t have to worry about it when the statement comes. If I don’t have the cash on hand, I will wait until I do. It’s a win-win situation, as the wait time to come up with the cash may eventually change my mind, as it could have been an impulse buy.
I get clothes/shoes/purses from a second-hand shop. Every so often I find designer goods in my size. And some of the items have never been used or at least look brand new. My last purchase was new $10 Le Coq Sportif sneakers. I also got a newish $30 Coach wallet that was cheaper than nondesigner wallets from other stores. It’s leather and has lasted a long time.
Tech is the only thing I have to really save up for cause I won’t buy it second-hand.
I see that ‘buying on sale’ with my own mother, she grew up in a big family and it was back in 60s Ireland when they had nothing at all. So, she will almost never not buy something that’s on offer now, because she ‘hates to miss a bargain’ - when I last checked I stopped counting at 25 shower gels. There’s also a kettle in the attic for when our current kettle (which works absolutely fine!) stops working🙃 and she hates spending a higher number on things, preferring to buy a lower cost item that won’t last as long.
I don’t know where she got me from - I avoid sales like the plague and prefer to spend more money on things in the hopes that I’ll get years out of them! The only thing I buy cheaper is socks and underwear 😂😂
I’ve also got an aversion to ‘stuff’ everywhere just to fill an empty space - i HATE dust collectors!
Damn you went straight into the video with zero hesitation. Respect.
I agree with so much of what you said!! The most important thing I have learned is to buy what you need, at the cheapest price you can (on sale or used) and the highest quality you can afford so it will last, and buy a classic look that never goes out of style.
Regarding the vacuum….i tested Dysons and I think they are overrated for what you pay! They are the quality of a Shark with the price tag of a Miele. I have had a Miele vacuum for 10 years and I love it!!!
A big expense I didn't need was a car. Sold it a decade ago and saved so much money from repairs, oil changes, insurance, and paying the car off! I live in a large city, so I always use public transportation, bicycles, or I just walk.
I've been using the exact same strategy for giving gifts for the past 7 years. Everyone loved it and the first thing they'd say after receiving my gifts was: "I can't believe you remember that I like this"
Lol the gift writing down thing isnt common sense/knowledge? I thought we all do that. I have a list on my phone for all my friends and family. And pick up things when i see them in stores, at craft shows or yard sales, etc that remind me of that person or something they would like. I put it in a special tote in my basement and when christmas/birthday roles around, i take out and wrap everything. Usually by christmas, i only need 1 or 2 gifts to round out someone. Makes christmas shopping a lot less stressful or what i would think compared to what people always say.
I don't get the idea of choosing funds with lower costs. I would think that the funds that perform better than the low cost funds are right to charge extra.
as long as you make more in total, the more expensive funds could be worth it.
You are killing it my dude
I would take your jeans example one step further. Poor-quality jeans for $20 die after 20 washes = $1 per use. Good-quality jeans for $50 last for 100 washes = 50 cents per use. My version is to thrift good-quality jeans in good condition for $15, they last for 100 washes = 15 cents per use. And it reduces the production of new clothes, which use so many resources. Apply this method to household goods you think you need but end up never using, like Instant Pots, and you've only wasted $10.99 instead of however much a new Instant Pot costs. New subscriber and loving your channel. :)
when bank overcharges on you borrowing money from them, but underpays you when they use your deposited money to other LEGAL stuff they do.
Credit cards and car payments are for chumps. I use money that I actually have to pay for stuff, and drive 2 nice Hondas (Civic Touring Edition and Ridgeline Truck) that I paid cash for. Boring, and nothing fancy, I know, duh, but it’s obvious. Buy quality stuff. Buy once cry once.
Credit cards are one of the best ways to build and maintain credit while showing you are a good borrower for that future purchase where you will need both.
As long as you use it responsibly its good because without it your credit sucks. Without good credit if something happens they don’t have any track record of you borrowing and paying back. Unless you have friends that you can borrow from then you will be up crap creek without a paddle.
I started a new job and setup accounts to max out 401k contribution, maxed HSA which is about $4500 this year and moved $7000 into my IRA. I was annoyed when my employer didn't offer VTI/VOO or FXAIX but it turns out they offered a similar mutual fund with 0.0075% management fee.
Really wish I knew or did all this in my 20s, but better late than never.
Damn, I'm that hoarder that buys in bulk sale items. I "might" find use for them during the apocalypse
Start your day with the coffee then instead of 2nd cup of coffee have some green tea.
If I walk near alcohol I turn red. I’ve never heard of it as the Asian glow. I’m not Asian - but I definitely glow. It’s brutal.
I'm the same. I enjoy beer but can't do it with liquor
I've just started watching your videos and they're giving some great advice on saving money. But the graphics can be hard to read at times as they look blurry with the RGB channel shift.
One way my family had all the gift giving luxuries without the cost is would celebrate for real after the holiday, maybe just giving a token gift on the holiday. The result was huge savings and more gifts to boot. As one example, for Valentines Day we would celebrate it a few days later when the boxes of chocolate 90% off etc.
Glad I discovered your channel man. It’s easy to be overwhelmed by the over-saturation of info out there but I learned to find what speaks to you. Connection. I understand your approach and I’m going to put it into use. Thank you!
Seconding the green tea! I have never been a coffee drinker but I drink 3-5 cups of green tea on work days (minimally steeped, so not a ton of caffeine, just enough for flavor) and it's great! ...And yeah, I steep the same bag all day. You can judge if you want, but it's so much better than going through a package of tea in no time at all.
Definitely try some mocktails instead if you’re bored of coke zero. Williamsburg has some good cocktails/mocktail bars 👌
everyone should quit alcohol😭
I noticed that alcohol free variants of cocktails taste fresher and fruitier 😊
In that case it doesn't save money, but at least less alcohol.
How do you know when something is going to falling apart regarding stuff you want to buy? I have a lot of clothing which was cheap but lasted very long
It depends. Sometimes you have to spend more to get quality products that will last for a very long time. You have to look at the big picture when buying things - not just because it is cheap
Thoughtful presents are so nice (:
Yes! Cheap goods are actually just that. Cheap. Cheaply made and built to fall apart so we return for more
Great Video 😊
I have always bought the absolute cheapest pair of jeans and I am extremely hard on jeans because I ride horses and go through all kinds of things that can catch on them and rip them. But my jeans last usually around at least 5 to 6 years.
One thing to consider is that 7 or so high flyer stocks make up 30-40% of the S&P 500 so a passive fund without these certain stocks might be a thought, or split it. On the plus side your intuition and energy are better when you don't drink. Here is a rule- you don't need anything. Put it in the mutual fund.
I like how each of his video keeps you in the chain and you have to go to the next(previous) video to finish the thought.
I am a big fan of your channel now. This is great 😊 🎉congrats !
Never in either my undergrad or grad school ventures did I ever meet someone who bought new textbooks when a used option was available. That’s just not a thing.
Love the info! New subscriber! 😊
Just wanted to ask, with moomoo, it sounds like a scam, can someone please explain if it isn't, thank you
Matcha is a game changer. Great video overall man!
Bro the endings that lead to the other video is crazy work 😂😂 I ain’t realize till the second video.👏🏼👏🏼
This is excellent. Thank you.
What is worse than day care. I pay over 2k a month for 2 kids and I don't have other choice than pay it
In some countries where taxes are higher, you’d have free childcare, paid for collectively by taxes.
@pawlieblog7967 Yes my friend in Canada they have it free and they even give you monthly allowance per each child. I beleive about $400 per kid a month.
0:51 : Interesting....🤔 Is it possible to go without credit card or that would be a problem?
Thank you for the information and keep it up!😎👍
Credit cards can be a great way to save or ruin you financially, it's a tool and depends on how you use it. For most people a 2% card like Citi Double Cash or Fidelity card is good because you save 2% on everything and don't have to think about it. I pay my credit card every 3-5 days from my checking so I don't go crazy spending and it feels like a debit card in that way.
A lot of people will say, you need a credit card so you can build good credit.
And it’s true, using a credit card (smartly) is a great way to build credit. However it’s not the only way to build credit.
Student loans, sometimes your utilities- and whether you pay it on time- can impact a credit score.
I spent 27 years without a credit card and still had a great credit score when I did finally get one.
So it’s technically not necessary, however, if you’re smart with money, and treat your credit card like a debit card (not spending money you don’t have)
Getting a credit card shouldn’t be an issue but you don’t NEED it in life
I bought 3 PS3s used and 2 of them failed with red light in less than a year.
I had a similar experience with a refurbished PS2 and a PC (the PC was functional but with a terribly slow hard drive)
I would not buy refurbished unless new models are scarse.
Luxury items are not luxury for the rich, they are just what they prefer
where do i buy refurbished quality tested products from tho? ik you mentioned the company, so is there really a company say for tech items where I can buy sth that was once used but now is tested to work? I'm down to buy old things as long as ik it's functional, but afaik, 2nd hand things are bought from independent sellers and not companies. Also I'm planning to buy a new phone, so if anyone has any advice please enlighten me
You should make a generalized video on the psychological aspects of entrepreneuring and financing
I enjoy coffee, love the taste and smell. Will never give it up.☕️
i loved it too D: how are your energy levels near the middle of the day?
Coke 0 contains a lot of sugar. The manufacturing company uses "0" sugar to trick the buyers who are trying to get rid of consuming sugar.
Your video was very informative and I could easily see how it can help people.
Nr. 4 ist the best one! 😂
Tea for the win!!
i never give gifts to none just for me ♥
Wish there would be UK version of you. For us credit cards are heavily irrelevant.
thank you!!
Totally agree with your strategies 💯👍🏿
How and where do you receive notifications for your ‘wants’ being on sale? That’s genius!
Can concur on the financial advisor. From a well respected brokerage, they went all in on IT mutual funds and all of them crashed and havent recovered for years. Lost a significant amount before i dropped them and did it myself. Im up now just sticking to dividend and etfs. So even i did better then the 'experts'.
I disagree with coffee. I can stick to just one cup.
Personally, I buy phones and tablets, because of the software support which is mostly guaranteed for 5 or 7 years from the release date. If I buy such a thing and it lasts me a long time (I don't care about having the newest tech at all) and I also buy quality as the hardware has to last as well (currently writing from samsung galaxy S22 while having tab s10+ nearby).
but i do not get it let say you have a salary of 100 $ you buy a 1 $ water with your money salary so why is their interest ? what is this scam ?
How do you figure how many times you’re gonna wear a pair of jeans without being able to predict the future maybe that’s just not a good example
I had no idea about Libby I need to check that out
Random question lol What font do you use for the graphics?
I am Austrian, but I have the Asian glow too. Funnywise it did start when I was around 30 years old. After 30min it is gone and I can drink the whole night. But my body does feel sick even days after. So now I only drink alcohol even here and then.
STOP RECCOMENDING CREDIT CARDS FOR REWARDS! Such a bad idea, you will not become a millionaire or build wealth by chasing small rewards. Everything else is gold, just frustrating watching financial "Guru's" giving bad advice
this guy is smooth with the transfers to the next vid
The trouble is, coffee smells and tastes nice. Unlike green tea (in my opinion).
or you know take care of your cloths then the so called "cheap jeans" can last even 2000 wears while sometimes the more expensive one can rip more easily if you careless so really its up to the person too how much they take care of their cloths and things also EDIT: omg can you stop having so many apps and services as ads in your video its really annoying and just lame and sad that you do it, you talk about money but being so greedy to make money off of youtube typical investment channels
Three in-video ads for one video is crazy.
6:02 My mum makes the same mistake.
Soo. Thats an add ?
He hit us with the “ for limited time in his own video 😂😂”
Why graphics is so blurry?
bare minimum and people will continue to struggle. basic healthy food, the mortgage payments and gas. thats as basic as it gets.
1.) - Most people are already in debt. Only using it for what you can pay back is Null in those situations
I just spend 3k on a espressoachine. There's no way to justify it, any other than espresso has become a hobby 😂 this was probably not a good financial decision.
imagine when the guy realizes you don't actually need caffeine at all
#4 scares me 😱 😅
How come?
@@VincentChan I love coffee. 😅 I already make it at home. There are rare occasions I drink it in the afternoon.
+ I don’t care for the taste of green tea
Spider-Man wallet for the win. You gotta show them you’re still a virgin!!!
Stop living in NYC and you’ll save a lot more! 😂❤ thanks for your great content!
Which brand of green tea do you drink, Vincent?
i just get the costco one in bulk :) which do you recommend?
@@VincentChan I'm currently drinking a brand called Jade Leaf I found on Amazon. It's my first brand, so I have nothing else to which to compare, but I don't dislike it.
What happened to your second channel?
which one?
Autopay all your bills.
half caff coffee.... this is the way
haha how does this work :)
@VincentChan lol get yourself two specialty bags one decaf one caff, grind it up, scoop out equal parts and now your cup has just enough caffeine to ride out for awhile without the crash! Herbal tea is perfect for evenings, but nothing beats that coffee taste... give back into the addiction! lol
just curious, why every text/images in this vid are using chromatic aberration ? (aka tiktok effect) ?
Dang you talk about 1000s of bucks of account balance. At Hungary, the teachers' YEARLY salary is about 2k, that money for teaching is hilariously little money, but sadly true.
I had a chinese suitemate in college who had the asian glow XD he would be beat red and sweatty when trying to drink. Alex miss you bro, hope youre doing good!
A and I are transposed in the video, it’s FXAIX
Buy Nothing, me watching this from a Nothing Phone 2, already done my boy😅😂
What brand of green tea do you drink?
Just the big box from Costco 😅. Do you have any recommendations?
I love Japanese matcha. Acquired taste but its fun to drink it and have people wonder if you are drinking shrek snot 😂
hahahha i love it too!! so good especially with creamy oat milk yum
well duh sales are good if its for an item you truly need... if you only buy something because its on sale and not because you actually need it then you are a fool and never gonna save money
They forgot?
who forgot?
Your furniture friend.