9 Things I Stopped Buying to Make More Money

27 Nov 202207:15


TLDRIn this insightful video script, the host shares their personal journey of cutting out unnecessary expenditures to achieve financial freedom. They highlight 10 key areas where they've stopped spending, including books (opting for e-books and library loans), brand new cars, souvenirs, upgrading tech before necessity, sale items, investments they don't understand, fast fashion, high-maintenance services, and unnecessary holiday gifts. By prioritizing quality over quantity and investing in experiences and knowledge, the host emphasizes the importance of mindful spending habits aligned with personal values and long-term goals.


  • 🤑 The speaker advocates spending below one's means and investing excess money instead of simply saving it.
  • 📚 While valuing reading, the speaker prefers e-books or borrowing from libraries over buying new physical books.
  • 🚗 Buying a brand-new car is discouraged due to the immediate depreciation and the opportunity cost of not investing that money.
  • 🎫 Instead of buying souvenirs, the speaker recommends keeping a travel journal to preserve memories.
  • �grade up Upgrading to newer versions of gadgets or technology is not always worth the cost if the improvement in happiness is marginal.
  • 🏷️ Sales and discounts can trick people into buying things they don't need.
  • 💰 The speaker avoids investing in things they don't fully understand.
  • 👗 Fast fashion is rejected in favor of quality, long-lasting clothing items.
  • 💅 High-maintenance services like nail, eyelash, and hair treatments are avoided due to cost and time considerations.
  • 🎁 The speaker plans to establish a 'no unnecessary present pact' to avoid wasteful gift-giving during holidays.

Q & A

  • What is the main topic of the video?

    -The video discusses 10 things that the speaker has stopped buying in order to save money and spend more mindfully.

  • Why does the speaker believe in spending below their means?

    -The speaker believes that spending below one's means allows them to invest and grow their money, which will make a bigger difference in the long run compared to just saving.

  • How does the speaker approach buying books?

    -The speaker keeps their favorite books in hard copy but buys other books on Kindle or rents them from the library through an app called Libby.

  • Why does the speaker advise against buying a brand new car?

    -The speaker advises against buying a brand new car because it loses a significant amount of value (10% immediately and 60% by the third year) as soon as it's driven off the lot.

  • What does the speaker say about souvenirs?

    -The speaker has stopped buying souvenirs from trips because they are a waste of money and clutter up living spaces. Instead, the speaker recommends keeping a journal or vlog to capture memories.

  • How does the speaker approach buying updated versions of technology?

    -The speaker is cautious about buying updated versions of technology unless the new version provides a significant increase in happiness or utility that is worth the additional cost.

  • What is the speaker's perspective on buying items on sale?

    -The speaker warns against buying items solely because they are on sale, as this can lead to unnecessary purchases. Sales are often used as a psychological trick to justify spending.

  • Why does the speaker avoid investing in things they don't understand?

    -The speaker avoids investing in things they don't understand because they believe it's important to have a basic level of understanding of where their money is going and whether it aligns with their values and ethical beliefs.

  • What is the speaker's approach to fast fashion?

    -The speaker has stopped buying fast fashion items because they are often of low quality and go out of style quickly. Instead, the speaker focuses on quality over quantity and buying fewer, more durable clothing items.

  • What is a prenup in the context of the video?

    -A prenup refers to a 'no unnecessary present pact' that the speaker plans to sign up for during the holiday season to avoid excessive gift-giving and spending.



💰 10 Things I've Stopped Buying to Save Money

The speaker discusses 10 things they have stopped buying to save money and spend below their means. These include physical books (instead using e-books or library rentals), brand new cars (due to immediate depreciation), souvenirs from trips (opting for journaling instead), frequently upgrading to newer versions of tech products, items on sale that they don't need, investments they don't understand, fast fashion clothing (favoring quality over quantity), high-maintenance services like nails/hair/eyelashes, and unnecessary holiday gifts (suggesting a 'no unnecessary present pact'). The underlying principle is cutting out expenses that don't add significant value or joy, and prioritizing financial freedom through investing and minimalism.


🤔 Mindful Spending and the Value of Trade-offs

The speaker elaborates on their mindset towards spending, emphasizing the importance of thoughtful trade-offs. They have no problem spending on things that bring genuine joy and value, but avoid spending out of habit or for the sake of impressing others. Evaluating financial decisions in terms of trade-offs is key – spending extra on liabilities or depreciating assets might sacrifice potential investments or opportunities for building wealth and financial freedom. The speaker questions whether short-term indulgences are worth forgoing long-term financial goals. They encourage viewers to watch another video detailing their monthly spending habits and express gratitude for those who watched and subscribed.



💡Financial Freedom

Financial freedom refers to the ability to live life on one's own terms without being overly constrained by financial obligations or concerns. In the context of the video, the speaker emphasizes making spending decisions that will ultimately lead to financial freedom, rather than spending on liabilities or items that decrease in value over time. The goal is to spend money on assets or investments that generate cashflow and build wealth, allowing for greater financial independence in the future.


Minimalism is the practice of living with fewer material possessions and embracing simplicity. The video advocates for minimalism in various aspects, such as avoiding souvenirs, fast fashion, and high-maintenance purchases like frequent hair or nail treatments. The speaker believes that having fewer possessions not only saves money but also frees up mental space and reduces clutter in their living environment.


Liabilities refer to things that decrease in value over time or require ongoing expenses. The video specifically mentions brand new cars as liabilities, as they lose a significant portion of their value as soon as they are driven off the lot. The speaker encourages avoiding liabilities and instead investing in assets that can generate income or appreciate in value, ultimately contributing to financial freedom.

💡Quality over Quantity

The concept of quality over quantity refers to prioritizing fewer, higher-quality items over accumulating many lower-quality or disposable items. In the context of the video, the speaker advocates for this approach when it comes to clothing, preferring to invest in well-made, comfortable pieces that last longer, rather than frequently buying from fast fashion brands that produce lower-quality, trend-driven items.


Frugality is the practice of being economical and avoiding unnecessary spending or waste. Throughout the video, the speaker highlights various ways they practice frugality, such as avoiding souvenirs, not upgrading technology unnecessarily, and opting out of gift-giving traditions that encourage excessive spending. The underlying message is that being frugal and mindful of spending habits can lead to significant savings over time.

💡Opportunity Cost

Opportunity cost refers to the potential benefits or opportunities that are sacrificed when choosing one alternative over another. In the context of the video, the speaker mentions considering the opportunity cost of time spent on high-maintenance activities like getting nails or hair done, as that time could have been spent on more productive or rewarding endeavors. This concept highlights the importance of evaluating trade-offs when making spending decisions.


Experiences refer to activities or events that create memories and personal growth, rather than material possessions. The video encourages prioritizing spending on experiences, such as travel and leisure activities, over purchasing physical souvenirs or items that may quickly lose value or become clutter. The speaker suggests that investing in experiences can bring greater happiness and fulfillment than accumulating material goods.

💡Mindful Spending

Mindful spending involves being conscientious and intentional about how and where one's money is spent. Throughout the video, the speaker advocates for mindful spending practices, such as avoiding impulse purchases, questioning the true need or value of potential purchases, and aligning spending with personal values and long-term goals. This approach encourages thoughtful consideration before making financial decisions.

💡Delayed Gratification

Delayed gratification is the practice of resisting immediate temptations or pleasures in favor of long-term benefits or goals. In the context of the video, the speaker suggests delaying gratification when it comes to certain purchases, such as waiting to buy a new car until one has the financial means to do so without compromising investment opportunities or financial freedom. This concept emphasizes the importance of prioritizing long-term financial stability over instant gratification.

💡Conscious Consumerism

Conscious consumerism is the practice of making purchasing decisions that are mindful of ethical, environmental, and social impacts. The video touches on this concept when the speaker mentions being mindful of where their money is invested and ensuring that it aligns with their values and ethical beliefs. Conscious consumerism encourages individuals to consider the broader implications of their spending habits and make choices that align with their principles.


Stopped buying books in physical format, instead using Kindle or renting from the library to save money while still valuing the importance of reading and acquiring knowledge.

Avoids buying brand new cars as they lose a significant portion of their value immediately after purchase, and instead aims to invest that money into assets that can generate cash flow for buying a car later in life.

No longer buys souvenirs from trips, as they clutter living spaces and do not capture memories as well as journaling or vlogging about the experiences.

Refrains from constantly upgrading to the latest technology versions, as the additional happiness gained from minor upgrades does not justify the cost.

Avoids buying items solely because they are on sale, recognizing that sales are a psychological trick to justify spending on unnecessary purchases.

Stopped investing in things they do not understand, as no one cares about their money as much as they do themselves.

Abandoned fast fashion and now focuses on quality over quantity when it comes to clothing, even if it means spending more upfront.

No longer gets high-maintenance beauty services like nails, eyelashes, or hair dying, as they are a waste of both money and time that could be better spent on more valuable activities.

Signed up for a 'prenup' (no unnecessary present pact) to avoid the habit of exchanging gifts during holidays, which can be a significant financial burden without adding much value.

Evaluates financial decisions based on trade-offs, considering whether the additional cost is worth sacrificing potential investments or opportunities for building wealth and financial freedom.

Focuses spending on things that truly bring joy and value, rather than spending out of habit or for the sake of impressing others.

Reading is considered a great financial investment for increasing human capital and knowledge, which cannot be taken away.

Traveling, making memories, and experiences are prioritized over material souvenirs.

Having fewer clothes and possessions frees up mental space and simplifies decision-making.

Advocates for giving back in ways that are appreciated without feeling obligated to exchange presents, as holiday gift-giving can be a significant financial burden.



hi guys welcome back to the channel in this video  I'm going to go through the 10 things which I've  


stopped buying as we've already spoken about I'm  not a big believer in Saving but I am a believer  


in spending below your means and saving will only  get you so far but spending less so that you can  


use that money to invest and work and grow for  you will make all the difference cutting out  


these things has left me with so much more money  every month without having to sacrifice on my  


quality of life let's get into it number one or  books I read a lot and I think reading is super  


important and it's a great financial investment  to increase your human capital and your knowledge  


and that is something that no one can take away  from you material items can go out of fashion  


they can be stolen looks fade but knowledge once  you've acquired it that's yours to keep it will  


it'll always stay with you so now what I do is  I keep my all-time favorite books in a hard copy  


um on my bookshelf and then the ones that I know  that I won't be reading again and again and again  


I either Buy on my Kindle or I rent it for free  through my local library on an app called Libby  


number two a brand new car if you don't have money  for it just don't buy it the second you put your  


key in the ignition and drive that car out of the  showroom it loses 10 of its fat and average brand  


new car will lose a further 60 by its third  year I know some people like the feeling of  


having a brand new car but is it really worth  that additional amount of money at this point  


in your life or can you hold off to invest that  money into an asset that will generate the cash  


flow to buy that new car later on in your life  if that's what you want number three souvenirs  


I really love traveling flights hotels making  memories these are all things that I'll be buying  


more of but why I've stopped buying is souvenirs  from every trip more than a waste of money it  


also massively Cutters up my living space I live  in a two-bedroom apartment with a kitchen that's  


the size of a shoe box anyway so the last thing I  want is shot glasses from every city I've been to  


overflowing from my cupboards if you really want  to kind of remember a trip then write in a journal  


I've made an online Journal slash Vlog and I've  been writing in it after every holiday that I've  


been on since 2016 and I just read through it  before recording this video and it brought back  


so many more memories than any souvenir there ever  could number four buying the updated version the  


rate in which new technology comes out way exceeds  our actual need to replace them but regardless  


of this we still do keep buying it I've actually  found that the more I have of a particular thing  


the less additional happiness it gives me so  when I first got the Apple watch there was a  


big jump in my happiness and going from no Apple  watch to having an Apple Watch it was worth the  


money I felt healthier I felt happier with all  the workout prompts it did the job that I was  


looking for and then a year later a new version  came out and I spent a few hundred quid more to  


get the upgrade and that maybe five percent  increase in happiness that I got from getting  


a slightly better version just didn't correlate to  the amount of money I spent on it so now whenever  


I think we're upgrading something I always ask  myself is it really worth spending that 100 000  


quid more to upgrade the specific thing or should  I rather spend that money on a new experience or a  


new item that will correlate more to the amount  of happiness I get from it number five items on  


sale there's a difference between buying something  on sale and buying something because it's on sale  


sales can seem like a great way to save money  at first because when stores do these 20 off  


30 off 40 off sales they're just actually using  a psychological trick to make you justify that  


spending in your head if there's a jacket that  you were going to buy anyway and now it's on  


sale from 200 down to 140 then yeah you've saved  sixty dollars but if you're buying it because it's  


on sale then you've got to look at it like you're  140 out of pocket sales are just a way of buying  


things that you wouldn't have otherwise bought  and remember it's you against these multi-billion  


dollar organizations with huge marketing budgets  behind them number six investing in things that  


I don't understand this isn't one that I stopped  buying but it is one that I've stopped putting my  


money in and it's things I don't understand a lot  of people put their money into Investments without  


really understanding what they're investing in  it and even if you do have a financial advisor  


you should have a basic level of understanding  in where your money is going whether it's ethical  


whether you actually want to invest in that thing  because no one would care about your money and  


where it's going as much as you will number seven  and fast fashion I mentioned in one of my other  


videos how I haven't bought an item of clothing  in the last six months I didn't think this was  


anything surprising but it seems to be long story  short I used to shop at all the fast fashion shops  


you can think of Forever 21 misguided boohoo  whatever but when I look at my closet today none  


of those fast fashion items that I bought are  still in there I used to spend a lot of money  


on stuff that I'd wear a few times and then I'd  get rid of them because it started frailing or it  


went out of fashion now I've learned my lesson and  when it comes to clothing I'm so much more about  


quality over quantity if something feels really  good and it's really comfortable then I'd buy it  


even if I'm spending a bit more money than I would  have if that was a fast fashion item at Forever  


21 or something also I find that having fewer  clothes just frees up my mental space I don't have  


to spend much time deciding what I'm going to wear  and I have like three different tops that I choose  


between when I'm recording my YouTube videos and  it's just one less thing that I have to worry  


about number eight anything high maintenance so  that's getting my nails done getting my eyelashes  


done getting my hair dyed it's all too high  maintenance and it just doesn't happen anymore  


and a big part of why I don't get this done is  also because of the time it takes to get those  


things done when I'm getting my nails done I can't  do anything else at the same time I can't get my  


work done at the same time so it's for me it's not  only the price I pay for getting these things done  


but I also think about it as a time value of me  sacrificing an hour that I could have spent on  


doing something else that would get me a greater  return just FYI I don't think of this time dollar  


value with everything in my life like seeing my  friends family going on date night that would be a  


bit outrageous but it is with things that I think  are just a waste of time number nine a prenup this  


Christmas I'll be signing up to a prenup which  is a no unnecessary present pact usually during  


Christmas we give presents to an extended list of  people but right now we're going through a cost of  


living crisis and expecting to see the longest  recession in the UK to date and honestly I feel  


like holiday gifts are things that we just do out  of habit and very often I get things that I don't  


even want or need but then I feel obliged to give  it back to that person and vice versa according to  


find a dot com the average British adult would  Fork out 548 pounds of Christmas gifts and the  


average American will spend 990 dollars and I'm  no Grinch but I think there are three ways to give  


back which will still be very much appreciated  and that way maybe other people won't feel like  


they need to spend on you just for the sake of it  either my overall mindset for spending is that I  


have absolutely no problem in spending things  that really bring me joy and value but I don't  


want to spend on things just because it's out of  habit or because it's based on my ego and feeling  


like I need to impress people I think if you cut  out on those two things then you'll be in a pretty  


good place financially with all of these things I  like to kind of look at my financial decisions in  


terms of trade-offs so if I'm buying a liability  or something that is going to decrease in value  


over time is that extra amount of money that I'm  going to pay for this thing worth the trade-off  


of potentially sacrificing my Financial Freedom so  spending maybe an extra five grand on a better car  


right now might not feel like it's a big deal but  if it's a choice between spending that five grand  


on a nicer car versus spending that 5 Grant on  an investment or to educate yourself or to build  


wealth that could potentially change your life  then is it really worth it if you want to know  


how much I spend each month then I've got another  video here that I'll link thank you so much for  


watching don't forget to subscribe if you haven't  already and hopefully see you in my next video

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MinimalismFinancial LiteracyConscious SpendingPersonal GrowthLifestyle ChangesWealth BuildingMindset ShiftValue PrioritizationQuality Over QuantityFreedom