Our #1 Minimalist Budget Tip For Saving Money
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- เผยแพร่เมื่อ 18 มี.ค. 2017
- In this video, we're going to give you our #1 budgeting tip that has saved us a lot of money over the years.
Disclaimer: this money-saving hack doesn't necessarily work for all financial situations. For example, when we're only earning enough money to get by, we don't have any extra expenses we can cut out of our budget.
But when we do have a surplus of money, this tip helps us avoid buying things we don't want or need so that we can use it for more important stuff (for us) like paying off debt, saving for a trip, or planning for retirement.
Another advantage to learning how to live with less money when we need to is that we can also set up living situations where our costs are low enough that we can work part time if we want to have more time to work on a passion project or just spend more time together.
Thanks for watching!
Mat & Danielle
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Blog: www.exploringalternatives.ca
Facebook: /exploringalternativesblog
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We want our channel and our comments section to be an inclusive space where everyone feels welcome to watch and to contribute. For this reason, comments that are inappropriate or hateful will be reported and/or deleted.
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VIDEO CREDITS
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Music & Song Credits:
All music in this video was composed, performed, and recorded by Mat of Exploring Alternatives.
Editing Credits:
Mat and Danielle of Exploring Alternatives
Filming Credits:
Mat of Exploring Alternatives - แนวปฏิบัติและการใช้ชีวิต
Today you sell 2 hours of your lives for $20. 50 years from now, being able to be your present age again for 2 hours would be priceless.
If feeling younger is priceless, why not do everything you can to stay young? By far the most important thing is eating a plant-based diet. Then you don't have to wish you felt younger - you actually will feel younger!
I only eat foul and fish when I do eat meat and that's often less than once a week. Otherwise it's organic plant based. The aging process can't be stopped but living a healthy lifestyle throughout our lives does become self rewarding. I'm 71, on no meds and have no health issues. My wife and I live frugally and sustainably. To do that, we subscribe to the philosophy of: it's as important to not need money as it is to trade hours of your life for money to buy things you could do without. Add to the equation that 25% of the money you do earn has to be given to the government for using their money.
very meaningful comments. thank you really. and to be honest I thought you are 50 yrs old or something just wow.
I totally agree with you. Selling your hours for low price even if you dont need, isn't a honour for me as lots of people say the opposite. If you can read new books, see new places, watch great movies and be with the people you love, then working more than you need(selling your hours) is not a thing that should be honoured. we only live once and I guess the meaning of life isn't making your boss more wealthy.
Greetings from Turkey. Stay healthy :))
vaughn nickel wow deep
25% is for married couples making over 250k annually, the majority of Americans only have about 10% of their income taxed...and that tax money goes towards education, infrastructure, and public services (Social Security, Medicare, national defense, national science programs like NASA, etc) to make our society work, flow, and improve.
I have a tip. Please don't take this the wrong way, but don't buy $20 shirts. Seriously, it's not necessary. Shop at thrift stores. That is the only place my family buys their clothes now, except for Facebook buy and sell groups, you can also get great deals getting things you need that way. I don't believe there should be any brand new clothing stores. Unlike what some people probably think, thrift stores do not sell clothes that are dirty or torn. My whole closet is thrift store clothes and you would never know it by looking at them. And the best part is each shirt only costs around $5. So I can buy 4 shirts for the same price that somebody else who shops at a brand new clothing store would only be able to buy 1 shirt. So who is getting the better deal here?
Thank you for this!🙏🏾I am 22 years old I really needed to see this message and understand this!
For the first 10 years we were together, my wife and I wrote down every single thing we bought and for how much. At the end of each month, we would sit down and go through it. If we over spent, then it came out of next month - and we had to decide where. We had three kids, a little fixer-upper home, and just one income - and we saved $50K during that time. It was really hard sometimes, but we did not want to live paycheck to paycheck, or be at the mercy of an employer.
From that point on (now we are 20 years father down the road) we basically lived on half my income, and stuffed the rest into investments. So each of my kids have been able to go through college with no debt. Guess who are in their early 50's and don't have to work anymore if we don't want to. It's not magic, it's hard work and not having to have all the stuff your friends have - especially on credit.
Thank you. This comment makes the time spent watching this fairly useless video worthwhile. (Video summary: "don't buy a shirt you don't need" really?).
@@L.J.01 you lost the point of the video miserably.
respect you
Good job! Well done!
Ttf Web . ٦
The other side of the coin is to spend money to save time. If you spend $20 more on a tool that is more efficient and it saves you 1 hour per year, then you save 10 hours over 10 years. Now you have to work 2 hours at a minimum wage job to pay for the higher priced tool. So in balance, you spent $20 to save 8 hours of time - worth spending the $20 IMO.
Happiness is learning to want only what you need. Closer you get to that the happier you will be.
Well said :) :)
Define "need". If you only want what you need, then goodbye civilization. If what you need is what you want, then we're back to square one.
Unauthorized Expression Except that what u need and the basic necessities are astronomical in price in Canada and unattainable for a looot of people!!!
Leave. Canada is on the fast track to becoming a 3rd world country as Sweden, France and Germany are. Among others. Just come to the US. Not perfect here, but at least we don't invite millions of ppl who want to see us dead.
Empire America is now being run like a corporate business. Last I heard most people don't like going to work at a job they don't like. So much for the business model of running a company. Sweden, Germany and France run their countries with the welfare of their people first, not the profits of the ultra rich. You may complain about the cost of food in Canada but no matter what you're doing or where in Canada you are, if you get sick or injured in Canada, you have free access to health care. In the USA your health is considered a commodity to profit from. No money? No health care. No money? No shelter. No money? No food. USA! USA! USA!
After reading “Your Money Or Your Life” by Vicki Robin and Joe Dominguez. It really changed the way I see money and my time. I learned that time is something you can’t make more of. My husband and I thanks to our frugal habits and great work schedules. We were blessed to be able to spend more days off together with our children. Although I do work, I have the option of only working one day a week or none at all. Frugal lifestyle also helps our environment by preventing things to be wasted or ending up in the landfill. I’m trying to instill these values and principles to my children so they will have a stress free life.
Excellent point. And not just two hours of work, but two hours of my life that I cannot get back.
Great tip EA! What I've also learned to do on a fixed income is WRITE DOWN a budget. Divide it into "Fixed Expenses" and "Variable Expenses". Fixed expenses HAVE to get paid: (Home, electric, water, cellphones, insurance, etc.) "Variable Expenses" I list in categories: Household, Auto (Repairs/Gas & Oil), Gifts & Contributions, Medical (Doctors/Medications/Nutraceuticals), Food/Dining, etc. Do this for each month. I have these in columns labeled, "Prior Month's Expenditures," "Budget Amount" and "Currently Spent". This way I can compare at a glance what I spent last month, what the budget says I should limit expense on, and what I've spent so far. Take your total income LESS 10% and divide that down your budget. "Fixed Expenses" have to be paid in full, divide the remainder for "Variable Expenses" as you see fit. What's with the 10%? That goes directly into gold &/or silver physical coin/bar purchases for retirement &/or insurance when fiat paper isn't worth the paper it's printed on. Take PHYSICAL possession of these assets and keep them in a secure location only YOU know. You'll find once you get them, you won't so easily want to part with them! PRAY for the best but PLAN for the worst - always! Good luck!
One of my favourite things about your videos is the relationship you two have. Danielle always looks so engaged with what Mat is saying. It's very endearing 💕
I read somewhere a nice extension to your tip: don't just count the earnings component ( pay check that says you earn 10$/hour) but add to that all the effort that goes into your job. So you commute (add that time and deduct that expense), than you drink that extra cup of coffee to lift you up, than you take some time to wind down before you're fit to spend time on yourself (add time expended), then you also need clothes that are specific to your dress code, etc. etc... all of that makes you more motivated to spend your personal time (this part is particularly helpful for me) and casual shopping that much more expensive
I had to smile as you got into your video! I have found your technique of equating purchases with time spent earning a valuable lesson. It enabled me to retire early, pay off my mortgage before I was 40, and travel extensively. However, when I started having grandchildren, that all went out the window, and I became a shopaholic! lol
I find, too, that when you're younger, you don't have the mindset of thinking about your retirement. The time will come, sooner than you think. So start paying it forward,and don't count on anyone (government or company pensions) to be there when you are ready to retire.
Shop the sales at grocery stores and adapt your meals to what is on sale/in season.
Shop at ethnic grocery stores where the prices aren't absurd.
Purchase mostly produce because it's healthier and cheaper generally.
Avoid throwing away food.
Avoid eating out (I'm terrible at this)
Don't finance a vehicle.
Don't drive a vehicle more than you have to.
Don't own a vehicle at all (no depreciation, fuel, insurance, tickets, parking, tolls, need for a garage, repairs, sitting while in transport, negative impact on the environment).
Pay off debt to save interest charges.
Skip having a gym membership and buy some one time purchase small tools for home workout and jogging and biking (dumbbells, shoes, bike)
Purchase used.
Borrow from the library instead of buying. This is more than just books. They have a surprising array of items like kill-a-watt meters. Which brings me to the next one..
Reduce your electricity use and subsequent bill by:
Use a kill-a-watt meter to measure the power use of appliances to be aware of and minimize electricity use.
Upgrading to LED bulbs. They are an order of magnitude improvement over incandescent.
Use power strips to switch groups of electronics off to prevent vampire energy, or just unplug.
If you own a house then consider mundane but important upgrades like increasing insulation. This saves heating and cooling bills and lowers your environmental footprint.
Analyze and utilize employer benefits when suitable.
Do tax planning to minimize your tax bill. Tax refunds are irrelevant-they only mean you overpaid in advance. Your tax paid is the relevant information.
When you implement some of these things you should see a surplus, invest it so that your money works for you. If there is a market downturn then the worst thing you can do is sell-yet that's what many people do, don't be those people.
weenisw, excellent advice! Wish someone had told me all these great money-saving tips when I was younger. I plan to share your wisdom with my grandchildren. It may be my only legacy, but it will be priceless. Many thanks!
Thanks!!
This is some great advice. I started doing this when I was doing factory work. When I stopped and thought about the hours of hot and stressful work, it really stopped a lot of impulse buying. Have an awesome week guys. Great video.
Good idea comparing money to "time worked" to buy an item. It simplifies the concept of Opportunity Cost very nicely.
EXACTLY! That's exactly what I teach, asking the question, "Is this thing really worth my life energy?"
Another big one: wait a week (or a month) before you buy something you really don't need.
This is OT, but I think it's funny that yesterday when I was watching vegan videos, this ad for (dairy) yogurt kept coming up, and now I'm watching a vid on simple living, and it was an ad for some MLMer or Internet Marketer living in this mansion. I think YT needs to tweak their ads as far as targeting, lol.
You guys have stumbled upon a nugget of wisdom from economics.It's facinating to me how our presuppositions about currency can drive so much how we use it.It's my opinion that because of the expansion of loans and credit over the past few decades that we have eroded this insight of the time-value of money."Why wait when you can just make monthly payments?"People think.It's fine until they realize they are dying a financial death of a thousand cuts.
Another great video! I feel the same way about money. I read a book many years ago called "Your Money or Your Life" that taught that enlightening principle. We do spend too much on things we don't need and that is our life energy. My dad always said, "what you want costs twice as much as what you need."
Great video. I too have been using this "thinking" for years and taught my son from a very young age that money equals time spent doing whatever it is you do for work hours. I think this video has the potential to really impact many lives. Keep up the great, enlightening work! With peace and gratitude XO
I have been downsizing my things, and the shirt example I've used a lot. Definitely helping with saving money and donating duplicate/like items in my wardrobe.
People always over spend and nobody ever really tell you the amount of effort you need to work just to be able to own all this stuff will simply work you to death. By putting off just buying things because it new or just little better has saved me thousands plus I most likely will try to fix it first.
Matt and Danielle you have hit this point on the nail and have truely found a better path in live. Amazing couple.
Buy quality buy once, buy cheep buy twice
I've been doing this for over 15 years. When I came to the USA at the age 20, I didn't speak English, but got my first job at Walmart (yeah, they hire just anyone, even if you don't speak English), making $6.50 an hour. During the lunch hour break my coworkers would often go out to eat. And I was like: what's wrong with you guys, you pay $10-15 for one meal, that's like two hours of work! Make a damn sandwich at home! LOL
Agree with this completely!!!
Thanks for checking out the video!
Or... do what I do: my default is that I never spend money, like ever. Never browse in shops or online, never look around to see what you need. Just live your life and then after you've noticed you found yourself really needing something a few times (like a pair of scissors or a hot water bottle for example), then and only then should you start thinking about a purchase. Then give yourself time, read reviews, think it over for a few weeks and if all checks out, then you can buy it. I haven't spent any money on anything other than food and gas for the last 3 years!! The ONLY time you should consider purchases you don't really need is if you can find something that will save you money. For instance, I bought a pressure cooker 5 years ago and my bills went down like crazy!!
Zwanzika Hatzel How did the pressure cooker make your bills go down?
Also, how do have fun or spend your leisure time? Surely it costs something?
@@edheldude old comment but: theres tons of ways to have fun without money. Spend time with family, joke with friends, watch youtube, excerise, read (library&online), free courses & info online, play games (tons of GREAT free to play games these days), go to free events etc.
Overall many many things do not actually cost money. Its a choice to have a dinner with a friend or to go to a walk with a friend.
Also many things are one time investment, long time fun. Computer, cellphone, guitar, jogging shoes etc. Ofc some maintenance or upgrade after a while but you dont need to buy new phone every year in order to have fun and be happy.
The pressure cooker is indeed both a time and money saver.
This is how I've been looking at money for several months now and I've been able to save a fair amount of money because of it. Excellent tip!
It's the best way to check the value of a purchase. How long do I need to work to have that item? What do I need to trade to have it? Is the second question because, it's all a trade off. I can't spend the same money twice. That's why I use only a debit card unless I need a big bill paid, car repair, etc. Might have to pay over time a little but, all other purchases wait, till it's paid. Most importantly, stay conscious. Being awake and aware of what needs to be paid and how much is coming in and going out is vital. Be clear about retirement needs. Write it down and share it with someone....neutral. Great video. Thanks for posting.
While the idea that money can be thought of as units of time has been around for many years, it's still good advice to remember when you are deciding about a purchase. One of the things I do is to put off buying something I really want until the next day. Seeing the item at the dawn of a new day usually convinces me that I really don't need it as much as I thought, and can get along without it. I say usually because it doesn't always work and I go ahead and buy it anyway. The thing is, it stops a lot of impulse buying which can be pretty dangerous to your budget.
One tip re credit cards etc is put them on ice.. Literally.. Freeze them in a block of ice. Put them in a cup, full full of water and freeze them.
That way when you want or are tempted to use them you have to stop , defrost them before using them. It forces you to stop and think..
Do I really need tgis and want to "defrost" the card?
Also the defrost time gives you more time to consider the purchase and gives time to decide actually no I don't need it (or I do) !
It stops that "knee jerk" reactive or emotive purchase. Really good way to help control that emotional purchase and slows the buying down.
So put those credit cards etc on ice.
That is basically the way I have saved on expenses for years now but it is good to see it in video.
A similar way to yourselves is I look at the multiplied effect. For example, I used it with my brother when he told me he buys 2 takeaway coffee's every day at work, that is basically £5.00 a day, 5 days a week is £25 and per year (minus the 4 weeks holidays he takes) is £1200.00 per year just on take away coffee, his wife spends about the same so in one household it worked out at £2400.00 per year on that which is an incredible amount.
That is a big way I think of things, I look on the monthly or yearly cost if I kept that up with the same attitude of yourselves, "do you really need it..?" Instead I'll get a jar of coffee and a thermos cup instead. I'll still enjoy a takeaway coffee now and again but it's more a treat then.
I always avoided thinking of my soda addiction in this way. Lucky (I guess?) for me, it suddenly makes me really ill! Still too afraid to run these numbers, though, to see how much I've wasted over the years!
Thanks for video guys! We moved to 1+1 home from 3+1 house one month ago and our expenses %50 less anymore.We don't use credit cards and I have been making budget list since last November.Everything is going better and we are less stressful that is great feeling!I am learning a lot of things from your experiences and advices!!
That's awesome! I'm happy to hear you guys found inspiration in our videos! Thanks for your comment and keep exploring :)
I used this when we moved from South Africa to the United Kingdom. Converting currency and different lifestyle costs were hard to compare. It really helped. And if our son wanted something frivolous I would explain how many extra hours I would need to work to buy it and he could understand why I was reluctant to buy stuff.
Something I never intended to be a budgeting aid but has ended up being one is, as you spoke of lessening your carbon footprint, making sure that every purchase is the most ethical choice you can make. It means that you can't buy anything conveniently which is the main reason people end up making frivolous purchases. I'm a bit obsessed with researching anything that I want to buy, looking up alternatives and working out exactly who I want my money to go to. Money doesn't just resemble the amount of time it took you to earn it; it is like a vote. You choose which company you want to support. I always try to find ones whose morals are aligned with my own. Anyway I've saved loads. Which is quite sad when I think about it because shows how little there is out there that I can call "an ethical purchase". Only just come across your channel but I'm really enjoying it!
I used to think in that way `money = time spent on earning that money`, but I shifted to thinking like `money = time I can live without making money`. So let's say 20$ is 2 hours of work, and your monthly expenses are 1400$ which is about ~2$/h, so with 20$ you can buy 10 hours of financial freedom :P. This method really boosted my savings.
this is a great tip...there are so many tips you can use to save money every day...we have saved thousands in monthly expenses so we can get out of debt and save to retire in a 10 year period. love your channel...and its doing well...congratulations...from a fellow Canuck!
that's a great way to calculate the true worth of money--by comparing it to how much time it takes you to earn. i've been doing this recently. it really helps me appreciate what i have and live within my means
I have used the some concept for more than 50 years and works if those that think that time at work is less time of freedom.
Use your valuable time as a currency and remember that you cannot buy time or get it back.
Some times you can use "not good quality time" to invest it in gain more good time in t he future like sacrifice you time during bad weather to have nice free time in good weather. (working during winter)
Very good at such a young age! Time is actually ALL we have in life. Just like money, its how you spend it:)
If something is a want and not a need. I asked myself is this something I really want. When I asked that question the answer is almost always no. This has saved me a lot of money.
Great tip! I'm also looking to consume less and be conscious of the stuff I buy. One thing I do is log all my expenses onto a spreadsheet that calculates every type of cost such as clothing, health care, food shopping, rent etc. This way all of the little expenses add up and it forces me to think do I really want or need to spend X a month on for example beauty? It helps me to see the bigger picture.
If you have a checking account and are accessing it online, you can get all kinds of spending summaries with a mouse click.
My sister taught me this years ago, what a great reminder thanks!
My husband and I turned saving $$$ into a game. We didn't look at living frugally as a hardship, but actually sorta fun to see how much we could save each month. Like you said,, the savings add up. Even on one paycheck , we were able to pay off our mortgage in just a few years. (The mortgage was small to begin with....small house, small upkeep)
Danielle, I discovered your channel purely by accident - what a lovely surprise ! You and Matt are making a lifetime of wonderful memories which you will never regret and I am so happy for you ! Say "hi" to your Mom, Dad and brother for me.
This is even more powerful when you take the funds in question for a purchase and put it into your savings. What I mean is instead of not making the purchase and saving in that sense, you move that money from your general fund into savings. That tip keeps money from burning a hole in your pocket.
Personal Budget,
47 years ago we got married and we were broke of course.
The first year was hard and in the winter I was laid off work for two months and we did get some help with food and rent and we did nothing. About week 7 I received a check for $100 winter bonus and we were so happy but instead of spending it we opened a saving / checking account at 5% interest. I then went back to work with a new plan.
We were going to get 26 paydays a year and the 12 months of the year did not add up so. We set down one evening and got every bill for a year from rent to car. Added them all together for the year and divided that by 26. From that date we put that money in the new account and with that $100 we were able to pay every bill for the next 12 months and had maybe $200 left over. Spent ½ on a nice Christmas.
We had our first baby in year 2 and paid hospital and Doctor bills on time and never got behind. I had gotten a good raise and we just added most of it to the Bill account. Food and everyday living came out of the left over monies each two weeks.
We did that budget for most of the 47 years and never had a bad check and never had credit card interest.
Our first new car was in 1975 and we paid on it for 3 years and at the end we paid this money into that same account. We have never paid a car payment from that time. That 1975 car we drove for 19 years.
Our first home we sold and did a 2X on our money and the same on the next two homes. At one point we had 3 homes and paid for our child’s 12 years in College. (Most of it; as she worked also to help) We let her have one home to live in for those 12 years we lived in one and rented one out. About 10 years ago we sold all 3 homes and now have a lovely modest home on the coast Paid for with cash). I am 67 I am retiring from MWR US Army Japan 18 months now.
Looking at our life we have no bills and could care less what our Credit (yes we know and it is good) score is because we paid cash for the home the cars and our life.
Yes we traveled and we had great holidays, never had to wait for tax returns and in fact most years we paid a little and we used that money not the government.
Well done!
Nicely done, that is a good budget, strategy thank you for sharing
Thank you guys, I've started repurposing my old clothes and I resentful made a messenger bag for my daughter out of old jeans. Now two of her friends want one. So in the process of trying to save a few dollar, it opened a door to make some extra cash. That's how energy works!
You quickly shared this way of perceiving money in another video a while ago and it stayed with me, its fascinating!
Yes, great memory! We did talk about in an old video but thought it might be worth it to elaborate on it a little. Thanks for watching :)
I am glad to see other people viewing money that way too.
I've been looking at purchases this way since I started working to earn my own money and my family's always thought I've been crazy for doing so. It seems only logical to me lol
Andy Brito you're not the crazy one 😊
I use this method all the time!!!! it really makes you re-think some costs.
This isn’t the most minimalist but it has curbed my spending if I’m browsing a store: instead of seeing something I like in a store and immediately looking at the price is saying to myself, $X is the max amount I’m willing to pay for this. This helps because if I look at a tag without any context, I am much more likely to justify it as reasonable because I went in looking with no expectations on what I am willing to pay. By setting the bar in advance, I sometimes induce sticker shock and am much more able to walk away, especially since I’ve already had that “contract” with myself that there’s no reason I would pay more than that bar I set.
The book 'your money or your life' goes into great detail on this concept.
We seem to have issues around items like a small freezer vs a pressure canner. A small freezer will cost utilities and is limited space vs a pressure canner that can seal lots of meat and vegetables with no more moneys spent. Chuckle, so that and a false sense of frugality seem to be the issue in our house. The points you make are very valid.
Years ago I lived in a van and planted tree seedlings. Since we were paid based on the number of trees we planted, I began thinking of purchases in the number of trees I would need to plant. It helped me waste less money.
I have honestly never thought of it in these terms, but it does actually make sense to me. Whether I can stick to it and make it work is a whole other story, but thanks for the idea!
I'm going to use this to start saving my allowance money for college in a few years, thanks for the good tip
Great info and ideas . I know if I start thinking about how many hours I need to work to buy things I know I will buy much less . Never thought of money as energy ! Thank you for your video !!
I've done that for at least 15 years. I always think how long would I have to work to spend x amt of dollars. Works like a charm!
I think : How long will this last ?
$20 = 20 minutes, or 5 years, etc
Puts each purchase into PERSPECTIVE
I just really appreciate you guys. thanks for the video. I think it is wisdom that's applicable to any life style -"this way of viewing money has given us more time together and with our family" -awesome. So many Americans put work before each other and you are not in that system of thinking. Thank you.
That's a really great way to think about things. One additional I would make is that the $20 represents two *extra* hours of work - work over and above what you need for basic expenses and bills. Thinking of having to work two hours *more* often dissuades me from shopping.
Further elaboration:
If money = time/energy ... then ..... how many hours do we need to work (on min wage) in order to support an "ordinary" life in a small rental accommodation in Canada? Can 40 hours of min wage provide this? if not .... then downsizing is imperative, unless we have an over 45 hour week! Buying less gives us the freedom to do what we really love doing. I have been using this method of thinking a lot: Does a shirt justify 3 hour work that can be dedicated to reading a book?
Money=enery/time may also lead to the concept that time is also a resource by itself - a resource that is more valuable than physical purchased item, because time is a limited resouce (as we do not live forever).
I think this video is amazing, because it delivers a totally new way of thinkiing about life ... not just a method to save on purchases. I may not be able to buy a bike, but I have enough time to do many things than many bike owner don't.
Many thanks. Jonathan
I agree with you guys completely.
Having been minimalist for a whopping 6ish months now. We started our journey hard and fast...sold our house, gave away everything and moved into a yurt with our one year old (video on my channel!!) and are still downsizing. I can say I am beyond STOKED for your beginner's guide. We need it!!! Peace and Love my friends - Carly F
Thanks so much for advice. I have learned a lot!
Excellent and spot on. Thank you.
this is one of the best money saving advices ever. thank you.
yes!! this is such a good tip! it's amazing how little we truly need and when we get off of the "i want that!" bandwagon how little we even want. thanks so much for sharing!
A good book to help implement your tip is "Your Money or Your Life" It's probably 20 or 30 years old, but it is a great resource.
great budget suggestion to make us think before we buy
That does make a difference, thanks for the tip!
thank you for this! love the time way of looking at it. done that a couple of times....
worked so much i need to consider it for like EVER.
I actually already do this! one tip I have is when I'm. looking at the lovely new seasons cushions and Home goods I imagine them after a bit of wear and tear and small trendy nice naks how dust Will settle on them and how they will date after a season or two
EXCELLENT advice! Thank you!💜
Your channel has brought so much inspiration to my life!!
I love your channel! Thinking of money in terms of time or energy really puts things into perspective. It's definitely something that gets overlooked. Thank you for this!
Totally makes sense. Good stuff.
That's how I've been looking at money lately, as energy. I produce it, the more I can get the more time I can 'buy back' as such.
Thank you for sharing this concept.
My husband had been using this method for years and now I do too. I don't like my job, so I think of money as 'units' of time I have to spend in a job I hate, so I have to think"Is it worth it?" before I buy anything non essential. My savings account is now much healthier than it used to be!
The other Alys Is it still worth spending your time/life doing something you don't like?
Awesome way to think about money!
Thank you guys for this!
great tips. thank you very much
Thank you for this tip. l plan to use it.
Thanks a lot for this video. Sometimes we all need a reminder of things that sound "simple". Money = Time I worked. I should be valuing my energy more like you say.
275k subs, I'm sure you're doing just fine. Congrats and Cheers!
Thank you for all your helpful and smart tips and inspiration. You two are awesome!
Glad you're enjoying our videos! Thanks for watching and for being so supportive :) :)
Mine is similar in that I reason simply with need and want categories. I'm going to try your energy/time strategy. Love your videos!
That's the way I was taught to view money. When I asked my mother for things she'd say she had to work 4 or what hours to afford that. I was taught to decide whether something was worth it or not.
Great Video. Thank you for posting.
Thanks for all your videos! (didn't watch all of them YET) Inspiring and helpful.
- From a fellow Canadian!
Thanks for the video,.. Yes,.. it is a really self restraint issue. It's hard,.. it takes patience to wait until you REALLY can afford it.
I use this technique too. But, I will put anything I reasonably might want to buy into the basket. When I'm ready to go, I think of the feeling that I'll have when I get home and I've spent my money. Then I look at the stuff in the basket and go through the items, one by one, thinking of what I already have at home that will work or another source to obtain the item. This could be the grocery store, thrift store, what ever. Three out of four times, I will end up putting almost all the items back with a just a few realistic exceptions. Many times I have just walked away and went home. I realized I only needed to mull over the idea of owning that lamp or those jeans but in actuality, didn't actually need to own them. Its like I went through the whole process or cycle as I walked through the store. You know, wanting it, grabbing it up, deciding to buy it (then buying it, owning it, getting tired of it, then throwing it out or giving it away.) I had the whole experience as I walked through the store and so no longer need to purchase it. Let me tell you, this method is very liberating and empowering for saving and not spending needlessly.
That is actually a very practical idea one I will use and share with my associates. Thank you
Excellent video & topic. It's really a way to get into thinking about the minimalist lifestyle that applies to everyone.
I am on the road too, and this seems like a good way of saving money. Thanks. There's one method that I've been using for a long while now. I know approximately how much I'd earn in a month, or how much I could afford to spend in a month. Split that in 30 (days of the month), then I have the amount of money I could spend in one day. If I spend that money, oh well, it's gone. But if I don't, or if there's any left by the end of the day, that goes directly to my saving.
Great analogy, time is your currency.
I'm obsessed with your channel. Great content! Each video is so unique and interesting, they really open up so many possibilities.
that's my theory I apply to saving money too!! My father told us kids about it long ago..I thank him for that tip. :) great video for younger people!!
Great tip! Seems so obvious, but then again, everything is pretty basic when you break it down. Nice reminder! Thanks for posting :)
Matt, what's funny about your shirt analogy is that it is so relatable, to me anyway. Like if you had never even saw that second shirt you wouldn't have even thought twice about how much you wanted it. It's weird how are mind works in this way. Like even if you still like the original shirt better we still want the other one.
i thought i was the only one who thought this way. Hells yeah!