8 Purchases That Saved Me Money Over Time | Frugal Living

Summary

In this video, the creator shares a personal approach to mindful spending by focusing on purchases that save money over time. Highlighted items include rechargeable batteries, external hard drives, hair clippers, dash cams, coffee drippers, fans, and high-quality water bottles. The creator emphasizes how these purchases, while small, have proven to be cost-effective in the long run. The video also touches on the importance of mindful decision-making in purchases and suggests practical items that offer lasting value, ultimately reinforcing the idea of saving money while simplifying life.

Takeaways

• 😀 The author follows a personal spending rule where every purchase must save money in some way.
• 😀 Rechargeable batteries are a worthwhile investment, saving money by reducing the need for disposable batteries over time.
• 😀 External hard drives are a smarter choice than cloud storage for saving money on recurring subscription fees.
• 😀 Having a safe can protect valuables and paperwork, potentially offering insurance discounts and providing peace of mind.
• 😀 Hair clippers are a great long-term investment, saving money on frequent haircuts and razor purchases.
• 😀 A dash cam provides safety and protection while driving, and may also reduce car insurance premiums.
• 😀 A coffee dripper can save money by preventing waste and reducing the need for expensive coffee machines.
• 😀 Fans can reduce electricity bills by complementing air conditioning, especially in warmer climates.
• 😀 A high-quality water bottle eliminates the need to buy bottled water, saving money over time.
• 😀 The author stresses the importance of mindful spending and only making purchases that offer long-term value or savings.

Q & A

What is the main spending rule the speaker follows when making purchases?

The speaker's main spending rule is that any purchase must save money in some way. This helps them evaluate whether a purchase makes sense in terms of long-term savings.

Why does the speaker prefer rechargeable batteries over regular ones?

The speaker prefers rechargeable batteries because they can be reused multiple times, offering long-term savings. While rechargeable batteries degrade over time, the initial investment pays off, especially for items like controllers that frequently need batteries.

What are the advantages of using an external hard drive over cloud storage?

The speaker prefers external hard drives because they avoid recurring costs associated with cloud storage. External drives provide offline access to digital files and do not require ongoing subscription fees.

How does owning a safe potentially save money?

A safe can save money by preventing impulse spending (by storing cash away), protecting valuables from loss in case of disasters like floods or fires, and potentially earning insurance premium discounts.

What is the long-term financial benefit of using hair clippers?

Hair clippers save money by eliminating the need for frequent haircuts. A one-time purchase of clippers can pay for itself after just a few haircuts and can also be used for beard trimming.

How does having a dash cam potentially save money?

A dash cam can save money by protecting drivers from financial liability in accidents or disputes. Additionally, some insurance companies offer discounts for having a dash cam installed.

Why is making pourover coffee considered a money-saving strategy?

Making pourover coffee saves money because it avoids the cost of a coffee maker, reduces waste, and allows the user to control the amount of coffee made, minimizing waste.

How can a fan contribute to savings on electricity bills?

Using a fan can help reduce electricity bills by providing additional cooling, which may allow users to lower their air conditioning usage, especially in warmer climates.

What is the financial benefit of investing in a high-quality water bottle?

Investing in a high-quality water bottle helps avoid purchasing bottled water while on the go. Over time, it leads to significant savings, particularly if it lasts for many years.

How does the speaker feel about minimalism and frugal living?

The speaker values minimalism and frugal living, focusing on purchases that offer long-term value or savings. While they aren't extreme in their minimalism, they aim to make thoughtful decisions about their spending.