Dangerously cheap here, and I love it. Stephan Graham mention in one of his video that to him being frugal, it is like a game to him, to see how far he can push it, and oh man do I relate to that. More money put away in the stock market for me. One of my life purpose for the past 4 years is investing in stocks and ETFs.
Intially, i did not understand what you were saying. I didnt get how it was profound. But then something clicked. I looked at my old pillowcases, mis-matched towels, chipped plates, the things that annoyed because its function was off (too hot to hold tea cup, got insulated one). It cost so little to replace and resolve. This is a lesson i needed to hear.
@@BeatTheBush Do you have a budget for these kind of things? Say $50 per month for entertainment. Then any leftovers can be spend to upgrade your lifestyle. Then again, I consider better lifestyle as a form of entertainment. At least those that ended up making me feel/look good.
I think my favourite videos of yours are the ones in which you share your reflections on your life and maturation, growth, lifestyle I really enjoy your depth...take care, stay safe everybody , love from Italy
I think this depends on each individual. The reason why we live frugally is so we can spend on things that give us a lot of value, things that make us happy. If someone wants to buy $5 coffee everyday because it makes them happy and their finances are solid why stop them? Being cheap and being frugal are two very different things.
I think the main point her would be the aesthetics of things was widely disregarded. I still don't think $5 coffee is worth it but some people's time might be too costly to save even $5 because making it yourself might take 10 mins each day.
BeatTheBush if you can’t take 10 minutes to make coffee, how are you gonna have time for the gym? Or for cleaning your house? 10 minutes is such a small amount of time. And that’s ignoring coffee machines that are cheap form Walmart that do 90% of the work for you! You just put a filter and the coffee and off you go to do something else!!
I agree David. It's individual. If going out for coffee is a part of the day someone really enjoys, esp someone who needs to get to work early or whatever, and they have plenty of money to meet their financial goals, then yeah it's worth it for them. Maybe this same person is also happy driving a very old beat up car as long as it runs okay where someone else may need those new cars regularly. So the coffee might be the deal of the century for some and a wasted expense for others. Just depends. Being prudent with your money (in contrast with cheap) means spending money on the things that make you the most happy, save you valuable time to do things you enjoy, and skipping the things you don't really care about or that cause you not to have money for things you need or future goals. Striking the right balance is everyone's responsibility to themselves.
@@BeatTheBush I usual buy cheap, except when it comes to food.. I love food 🍜 I used to only wear black clothes and blue jeans and I used them for 6 to 8 years; very functional. My mobile phone has a shattered glass: it still functions. *I will get a new phone in 2021 when my phone contract expires, because then I basically can buy a 600usd phone for 200usd with good deals. My girlfriend calls me hobo.... 😂
Life has multiple periods of time that might be completely diferent, from my perspective what you did is perfectly natural, you saved and invested to build a solid foundation in your finances which doesn't mean you will spend your entire life like this, most likely you will enter a new phase now with a more rational expending but without excentricities. I believe after another 10 years you will be ready to spend much more but only when you are ready and confortable with it. please analize is your current situation is affecting your life in a negative way (as example if you are looking for a serious relation)
It comes down to finding a balance between not spending unnecessarily and maintaining a certain level of standard for your own life. Going too far in either direction is no good. One thing to point out is that buying things should never be because of what other people might think.
Ow yeah. I restored my old computer with that and it looks brand new. I will keep it forever and re cap it in a few years. It’s getting around that age. I also want to add fuses so there’s no chance it can burn up a failed component.
True. I can honestly say if I spent $1000 more a year on replacing all those worn out things over the years, I probably will reach my FI goals a month or two later. At least replacing the most visible things for aesthetic reasons I argue have significant returns in intangible ways.
@@BeatTheBush I do agree that intangible benefits do need to be considered. Clearly you are good at making informed decisions and how successfully you do it is inspirational. While replacing worn out things (I remember the video on old socks & shoes!) wouldn't likely have impacted reaching your goals, other things very much did. Some things matter a lot! Eating out frequently, always having the latest stuff, being a victim of fashion, always driving a new car, etc. can very much impact on a person's becoming financial independent. Choosing to avoid those things can be considered 'frugal' but if you are doing it with a goal in mind I don't think 'frugal' is the right word. 'Wise' is a better word.
I am glad you are realizing these things. Really the whole reason for retiring early is to have TIME freedom to enjoy your life more doing the things you have wanted to do and didn't have time for while working. The little things can be more important in adding "quality" to your life than the big things in this regard. Refreshing things from time to time that are old, half-broken, and/or ugly or you no longer like -- especially in your home environment can be very uplifting indeed! From what you said here, it really has been for you. It's all about the small ways you can add quality to your life. Little things can be of more impact than buying something very expensive you rarely use or might get tired of quickly. Thanks for sharing. I'm older than you but I hope many of the younger people here do listen to your advice and spend wisely, but not become too "cheap" in their quest for FIRE. One thing I will offer as someone who retired early successfully is that even though I was saving over half my income, which meant being careful with spending (and many of my peers would see me as frugal in many ways) I truly was able to spend and buy pretty much anything I really needed or wanted to. It helped me know that when I retired I could live the same and not have to be super frugal once I quit working. If my spending went down naturally over time, great, if not, I didn't have to worry about having to live at a frugal or sub-frugal level and could focus on enjoying all the TIME freedom that I bought via retiring early!!
Is time not more valuable than money? It really depends how much money your time is worth. Personally, I still have a hard time spending say $50 for a service that will take me 1 hour to do if I did it myself.
BeatTheBush I jest, I’m glad to see this change, but just remember to stay true to yourself. It’s very easy to get sucked into the consumerism wormhole just as you got sucked into the frugal wormhole. I find what’s best is finding a balance between the two and doing what makes you happy. I think you need to put on your face mask and go visit your friend in NYC perhaps she can fill the void in your life 🤷♂️
@@BeatTheBush it depends on how much you value that service. Doing something yourself rewards you in non-monetary ways as well. The whole business model of Ikea revolves around customers building their own furniture. Even if it's not professionally done, the sense of accomplishment you get from putting something together is worth way more than the money you could have spent having someone else do it.
Wow!!! I'm so glad you've had this realization!! At 62 I am much pickier about having exactly what I want because it might be my "last" like set of dishes for example.
@@harorider96 yeah it sucks to be honest. Most people my age never expected to grow up. It was the 70s man :). We'd hear our same music for the next 40 years! LOL
I use to think that way but appearance has a hidden value that's hard to quantify. I fix plenty of things myself but some things are not worth keeping around when it is 3x past its lifetime like those power strips.
I wish I didn’t buy such a nice truck. I have to take care of it and make sure it doesn’t lose its value. I want a nice car for party nights and weekends. Then a cheap truck to get to work and throw stuff in the back without worrying about scratches.
@@markm0000yes, advantage of having a beater vehicle. Don't care about where you park or getting scratches or dings. And usually done depreciating if it's the right year.
Blue Collar Money & Investing Channel I got a old Dodge Cummins. It has been completely deprecated for the last 5 years and possibility on its way up next year when the economy recovers. I got to take care of it and upgrade it with a new turbo, rebuild auto, and a engine blanket to quiet it down. I also thought about converting it to 4x4 but there’s to much involved in that and it destroys fuel economy. Also, people like things to stay original.
I enjoy house plants. They give me joy but I skimp on the pots. Having to look at crappy plastic pots all the time made me realise although a nice glazed ceramic one might cost more than the plant itself. it's worth it because it enhances how I feel and improves the aesthetic of the plant. I can't look at a crappy pot forever because they will take my lifetime to lose their function.
I thought I was smartly frugal, then I started to change my perception on time, quality life, minimalism, etc. and discovered that you should be happy with your life. Everything else is not important.
I'm the same way.....when I started my minimalistic lifestyle, I wouldn't get rid of it of it works....but the inner adult in me would tell me I cant have things that look ghetto, makes me look like I cant take care of myself.
I agree 100% - so many people here have a lot of spare money in their bank account, and it acts as sort of a safety net more than anything, you learn not to buy stuff because it might go on sale the next day and you want the best deal, or it will be cheaper next month, or the lost interest that you could get from the bank. But being too frugal can stop you living life right now, it's a balance between saving and spending. Improve your life bit by bit by removing small annoyances - another revelation. Thanks for your time in making this video BTB!
I liked your message and in this case, you would be my little brother to whom I'd have suggested the same thing. I'm glad you don't need it as you realized it on your own. Too frugal is bad and too lavish is bad as well. So what is too frugal and too lavish needs to be well defined. Anything that you'd deprive yourself, which is a need for you at your age, would qualify as being too frugal. Today, I bought a trendy Yamaha motor bike for myself, but I could have done that ten years back when I was younger. I cannot get back that time. Enjoying certain things in life during peak of youth cannot be replaced with any amount of money when you are older.
I might be in the same boat as you in terms of buying things for myself. I tend to not buy things and don't focus on materials things. Not being frivolous is important, but we also don't want to do that at the expense of enjoying life or being able to do the things we want to do. Balance is so important in areas of life, so I really like that you focused on this today.
Thanks! I'm good at hoarding money I guess buy not spending any of it while earning it in a couple dozen ways. This in particular focuses on replacing worn out items which has more to do with aesthetics than anything.
BeatTheBush yeah, all things considered, I would rather be too frugal than too frivolous (that causes way more problems), but the money is only useful if we use it!
When I became single I ignored replacing things that weren’t important, like worn out towels, floor mats, things that no one but me sees. But it would appall my adult children. As a single person it just makes more sense to have a healthy savings account because you have no one else who can pick up the slack if your income disappears due to lay-off, health issues, pandemics.....
I can relate. For the longest time I had no mudguards on my bike. This year I finally bought some, and it's made cycling when it's wet so much better. And they were like $20! Totally worth it. And tomorrow I'm getting new tires and tubes as well. My current ones have done 10.000 kilometers, and I've patched up one of my tubes 5 times. I do allow myself to spend a little extra every now and then. But my default is being very frugal. And that is great, because it only takes a little bit to add some luxury to my life. Most people, who spend most of their money, have to save up for spending, or even go into debt, to enjoy the same level of luxury that I experience when buying my $20 mudguards.
IMO, It's a very individualized set of priorities for what to spend or what not to spend. For example, 1/4 - 1/3 of my clothes are from Goodwill. I still drive a 1995 Camry but I have no problems buying a new 2.5k laptop and a 3.5k saxophone because those items brings me personal satisfaction. It's a matter of quantifying happiness and getting the best ROI with respect to money spent and units of long term happiness. Ultimately, for me, financial freedom and knowing I don't need to do anything I don't want to tops everything else.
Aligns with my thinking closely. Outside of sports clothes, I don't think I've bought an item of clothing in my life (28 years old and most clothing over 10 years old)... but I'll drop USD8k on a carbon road bike. That's double my annual spending Jan-June to date!
I'm frugal, I save over 65% post tax income. One thing I don't cheap out on things like: clothes, a softer bed, better gym, furniture, or electronics that double as furniture. It increases standard of life through experiencing these purchases everyday.
BTB I am truly happy for you, you have done an amazing job accumulating cash, but taking the time to learn what is truly important to you will add true wealth to your life. Find your balance, you have worked hard for this.
A power strip is insurance against surges. Even if you've never needed it, skimping on insurance is not always the best idea. (Although $0.00 scooter insurance LOL)
Thanks for this great video! I've been frugal my whole life as well. In the last few years I've been trying to buy better quality items and I've found that it can sometimes save me money by not breaking down so fast. I sometimes go back to being cheap so this was a great message for me to hear today.
I agree. Buying something just so you stop spending hour researching or thinking about the product can lead to justifying buying all kinds of unnecessary crap.
Completely understand this and realized the same after going from scraping by as a digital nomad to making good money (relative to cost of living). My clothes have some weird fungus on them that doesn't go away (doesn't smell, but makes them have a weird texture), and I haven't replaced them all. That'd cost less than $100, or a couple days of income. I haven't been using A/C for a year+, and didn't just a couple months ago, yet it costs $30/mo at most. Why the hell not. I've been avoiding ordering grab/food-panda which has a $1 delivery fee and walking 15-20mins to get food and come back another 15-20mins. Sure, a walk is nice sometimes. But it's a gigantic waste of time to do so if you already had a good outing that day. $1 saved is not worth this. I still struggle going beyond these little things though, as honestly I don't care for a more than basic poor studio apartment that's a couple hundred dollars a month at most. I'm so conditioned to not treat myself that fancy restaurants or coffees just because feels wrong and uncomfortable to me. I'm broken to BTB, you're not alone (:
Oh my... fungus? At least you got those covered already. I could say to spend 10% of what you save on life improving aspects of your life but that's too easy to say. I have a problem buying fancy restaurant meals too often myself. Spending on increasing standard of living is subjective but you can probably see what a difference replacing the fungus clothes have. What if you applied it to other things in your life to make it more aesthetically pleasing?
I mean no offense saying this. But your using the word conditioned and how you're struggling with this may mean that changing your habits through CBT may be really helpful to you! I've been there. Good luck. You deserve not to have to agonize over these things.
Good point. But then I also think about what is behind the monitor. You will see it when you install it and you will know its there. BUT, I guess it depends if you even care.
@@BeatTheBush well, in this case, it's just a question of cosmetics. so i wouldn't care, especially if visitors don't have to see it or know it's there. if it's worn to the point that it could present an electrical hazard, then of course it should be replaced. always appreciate your videos, brotha
Yeah, I've been told im too cheap all my life, I used to give in from time to time, but I decided im just going to be myself and fvck what people think... Image does matter, and that's why I'm wearing a suite at work as I type, but there is an evident and observable benefit to that. You can be frugal and be attentive to your image insofar as there is a desirable benefit that is greater than the cost.. "Desirable" is inherently subjective btw and cost is partly so. And the benefit need not be monetary.
I think the mentality for being extremely frugal is to never ever spend money when you don't have to. That is, you find the cheapest way to complete what you need to do. This will save you a lot of money but can cost you dearly in other ways.
That looking at things you use every day is spot on. I’ve minimized a lot of things, but I also spend more now on things I use everyday like buying good quality sunglasses, earbuds, watch, belt, etc because you aren’t saving money if you are replacing cheaper quality versions all the time. it’s all about being focused enough to recognize and prioritize what is giving you the best return and prioritizing your money there. It’s a lot like picking stocks.
Way I've always thought of it: one who minimizes cost = cheap. One who maximizes the value of money spent = Frugal. It's very easy to go into being cheap and patting yourself on the back for minimizing the amount of money spent but the second is the one that truly changes it into an investment perspective. It is important to invest in yourself in all forms. Yes I run myself like a business but no I don't regret spending 66% more on something that brings greater value, even during harder times.
I think its definitely all relative, you need to find a good balance between pleasing yourself as well as the people around you while still remaining frugal.
Beatthebush just showed 300k+ followers that we are all learning. Don’t beat yourself and beat the bush. Appreciate the honesty.. thank you for contradicting yourself, cause it shows how human we are. This video is good, obviously you made money so be it. Be happy and let us all help more if we can. And if you think being frugal is good, then so be it.
One thing I’ll pay for are shoes. I like the Clark’s brand. $45-$60, but these shoes last at least a decade. Even those downgraded to wear out of the house, they become garden shoes or house cleaning shoes. They have to be dead and gone before they go on to be chew toys for dogs!
I think you begin to reflect more in your recent videos because we are in depressing times. We all get depressed presently. I find that I am reflecting more as well. I do agree that no matter how frugal we are, we should still buy small things that can make us happy. Nevertheless, most of us need to copy you and be more frugal because we might never achieve our dream of being financially independent otherwise. I personally subscribed to your channel because it makes me think where else I can save to achieve my goal of being financially independent.
Dude needs to realize not everything is centered around saving money ... sometimes enjoy life within your means ... don't always stress over small enjoyments
Powerstrip isn't really a good example. They can be mounted out of sight & do their function just fine. Replacing them is wasteful. Recommendation: spend your money on experiences.
Our possessions send social signals whether we like it or not. Potential romantic partners especially will respond to these signals. Romantic endeavors require wasteful expenditures that signal economic success. I would like BTB to tackle this tricky problem. I think it's the fly in the ointment.
I actually look for the opposite. But this is both rare and hard to spot, meaning the whole game becomes 'needle in a haystack' like, I do however agree with what you're saying for how the vast majority of people work
Being too cheap can be a time waster and stressful. If you spend hours and hours trying to save a couple bucks it’s wasting time. Maybe you have more time than money but not everyone does...also if you can’t let yourself buy or spend on something you want you can stress out about it. I have done this many times and I get it from my mom. But, she doesn’t want to change, she doesn’t mind being so cheap but I do sometimes.
At what point can I do this? I have 100K to my name, and am 21 years old. I don't own a home yet and live with parents. I think at this point, my obligations for a home and other things makes it not smart to buy stuff yet.
I like watching hgtv and seeing all those people wearing new polos and nice jeans to do yard work and painting. They look nicer than I do when gardening esp. paint is ok, but when it gets in my hair........😀
Don't ya'll get afraid of visitors? Like what if your in ripped stained clothes and some friend or family come surprise visit you? I have a certain standard even just cos if someone comes over at any time I want to look like I care about myself enough to not wear whatever comfy ripped rag I have. Sorry if that sounded offensive. It's actually caused me pain to throw out my comfortable ripped clothes but it was needed
kassie p yes I am one of those that run in the back to throw on something somewhat presentable when non family comes to visit. But it is like be 80-90 degrees here so unless I am hiding in the ac, it’s tanks and shorts all day. Plus everyone knows I am cheap 😀 so there are no expectations
@Amusis so true! Doesn't have to be new or really nice, just kinda something that says "I care about my myself". For me sometimes when I wear raggy clothes I have my jewelry on and hair done up or some nice lipgloss on and that's kind of a "I've made a effort to look like I care" lol
Did you moved your furniture around? I know you are frugal, or let's be real, you're cheap. But you're single and don't have any dependents to worry about. I don't mind. As long as you're happy and healthy. It's all good. Its like, I have an aunt who's so cheap, that she lives in squalor. She's rich. But she lives in filth and in a fire hazard. One day, we will have to dig her out of her mountain of hoarded stuff. That's where I draw a line.
People live frugally. Also be generous at the same time. I am frugal in my habits, but i also like to give away bunch of my stuffs and money to a greater cause or to help people in need.
There is difference between being cheap and being frugal. Now, I am definitely gonna have to check out that desk mouse pad, who knew they even made these. I won't be coming back empty-handed either! Great video!
You have such insight. I tend to try to be very frugal myself. I so agree with buying small things so you're not bothered with them taking up your time. I am older than you and wish I could get the time I have wasted trying to get the absolute cheapest especially on mass produced common things. I recently started paying just a bit more from time to time on gas as many times I go to one of the cheapest in town only to find the savings was very little and my time and gas to get there negated the cost of more expensive gas near by. I have learned quite a bit from watching your videos, though I am far beyond ever being able to be a minimalist. You have inspired me to start selling things and getting rid of that that does not serve me well any longer. We shall see how that goes. I like to know things that are still working go to someone that can actually use them not in the goodwill bins to be broken and scavenged over just to be put in a crusher and sent to the landfill. People are so wasteful to begin with! Thanks again for your insight.
I actually have seen those power strips fail. Also, those cheap power strips scare me from causing a fire. Do you really trust a power strip that is 15 years old?
BTB I'm glad you're talking about this, because I've wanted to tell you something for a while. Your kitchen looks extremely outdated compared to the value of your home. I literally have had thoughts along the line of, "man if he invites a girl over to his place she's really going to wonder what's up with that."
When you are frugal for a long time, it's hard to break that habit. I'm at a point in my life where I can buy most things with cash but I find myself "debating" whether I should buy a burger without a coupon.
What you could do is put the power strip in some room upstairs where nobody will see it when they come to your house. So you don't need to replace and the way it looks won't bother anyone
I've been told by a relevant professional that I have an addictive personality and low levels of self compassion... which helps explain why I take frugality to the nth degree, then want to take it further... and further.... and 10x further than some other person who is super competitive just so I beat them! Then life becomes unbalanced... so I take up a new pursuit - a new sport - career progression. This clashes with being able to take frugality to the nth degree - and so I become 80% good at being frugal and cycling at the same time. Most people would think that's better than 100% in one thing, but my mind works to the contrary. Great video - watched it twice and encourage others to do the same
Cycling huh? I bet you have one of those crazy road bikes. =D I'm particularly trying to address those who have worn out towels, power strips, clothing that has the elastic broken, t-shirt with holes, aesthetically related things needing replacement.
I really liked this video. Heartfelt and I really felt your pain/ what you were sharing. After reading many books on early retirement/ frugality/ Millionaire mindset/ etc, I have learned to invest in what matters to your daily life's happiness. If you can afford it, like you say here, even 50% improvement to your daily happiness, that is a whole lot. I also feel your pain with "begrudgingly" realizing that the way the world works is that people want to associate with what looks successful. If someone is successful or not is beside the point for most, much of society operates this way, it truly seems to be the world we live in. I am similar, yes, but being very frugal is not always a bad idea. I think it is well worth it in the long run. I liked the example you shared about saving time. That is opportunity cost wasted browsing trying to save, say, an additional 10-50 dollars, maybe, if you get a good find. It's not worth that much of one's life.
Hey can you make an update video on your Tesla and if you regret buying it now since you sold your stocks and savings rate has dropped significantly? Thanks!!
Calculate how many hours you predict you’ll look at it and how much you’ll make during those hours. If it’s substantially more than a new Tesla then sure you would be better off buying one.
BeatTheBush it may end up in the landfill even after I donate it. It’s more of an environmental and the it-still-works reason that I won’t be replacing a yellowed power strip. But yellowed white shoes or watches that I can’t whiten? Sure. Nah, your video didn’t fail me. People value different things. I just learned more about you trying to learn to strike more balance from being too frugal. You seem to want to hangout with some people who may not have the same lifestyle as you, so you may try to get closer to them so you can relate. Nothing wrong with that. Again, this is just my assumption.
I truly believe this shows so much maturity. To see life as a journey and that your values change with experience. To know that time is limited and if you can, to enjoy all life has to offer. You hear about those old people who everyone thought was homeless but died a secret millionaire. I say , why! Enjoy your resources when you’re alive and share them. It’s so amazing to see wonder and joy when you share your blessings. Remember you can always make more money, you can’t make more time !!
I enjoy being frugal and very thrifty. I live on $600.00 - $700.00 a month, but most times at $500.00 a month. I am satisfied at the level I live at this stage of my life :)
Oh... that... you know I cancelled my insurance and it's been sitting there lol. No worries, I will start the insurance very soon and do some videos in it.
BeatTheBush lol I did too cancel my car insurance and registration since I rarely use it. And it save $$$ on gas too BUT I’m not enjoying rides and adventures because of this.
BeatTheBush imagine how many views and new subs you can get by doing Tesla videos. You aren’t maximizing your investments. Take us out for some road trips in the Tesla!!!!!!!
I have a hard time getting rid of my old rags that I call clothes. After this I am going to collect them all and donate. If I keep it at home I will just go back to them cos they r the most comfortable
I don't think power strips matter much to anyone and the light switches I'd only replace to try to make my house more marketable when selling it but I'm not going to replace my fixtures, bathroom faucets, or kitchen countertops when I plan to live in the same house for 20 years and will need to replace them again right before moving so I get the best price before moving. So I've got 1980's countertops and some outdated lights and appliances. I'll replace the stuff that's most obvious, cheap, and easy like lighting fixtures knowing I'll do it again before I sell to get the most market value. I avoid wearing clothes with holes in them unless I'm intentionally trying to look poor to avoid being a target in a rundown situation/place. In general clothes last me 5-10 years depending on how often I wear the item and then I wear the worn out stuff around the house or as an undershirt when wearing a hoodie until I have 3 or 4 of those worn out items and then I throw away the worst. This way my nice stuff stays nicer and I don't buy that many clothes unnecessarily. It's okay to be cheap if you want to be, surround yourself with friends who don't cause you to spend needlessly but don't look like a scrub or cause them extra expense and you're fine, most people won't notice or care.
Good video, reminds me of student life. Something I think to add is the fact that an obsession with saving can actually hinder one’s participation in social events or new experiences. I had a friend who came from a very well-off family; I knew she had the money to go out or enjoy new things. However when I would invite her somewhere to eat or shop or go (such as a concert or museum), she just didn’t want to spend money. I understand if she simply wasn’t interested, but to me it felt like she was wasting her youth on frugality instead of on exploration and making memories.
Awww, BTB. We love you and we are glad that you are making progress and sharing your progress with us. There’s no need to feel bad, but you are not frugal in sharing your experience and expertise with us. Just be gentle and kind to yourself is what I'm trying to say!
The key is balance! Enjoy life today and invest in a better tomorrow. For me, I set an annual budget with a reasonable Food & Entertainment Budget. When I underspend to that budget, I let it build up into a slush fund I can use toward "bigger purchase items". Then you don't have to sweat spending the money when you want to. You are following your plan. My budgets are conservative, so when I come into more money than anticipated, I split it up between savings, investments, and my slush fund. This allows me to get further ahead in my investment goals and enjoy a little as well.
Those power strips do have age limitations on them since the capacitors go bad over time which could cause it to catch fire. To save money, i would look more at cell phone, cable and insurance policies.
@@TheRainHarvester power strips don't have capacitors afaik but they should definitely be replaced. After lots of duty cycles, the wires builds up tons of resistance. They will get stiff. This heat stress transfers into the outer plastics and could be an easy fire hazard. This is rare since most people simply get rid of them when they yellow or move apartments but the possibility is still there. It's cheap insurance just to simply buy another one. Nothing lasts forever, especially items that transfer energy.
@@stickyoxtail I don't think copper wires build up resistance due to use. Otherwise, we'd be replacing house wiring and utility lines every decade. Electronic circuit boards would need to self-tune for aging traces on the printed circuit boards etc. Older houses replace aluminum wiring, but that is a different story. When is the last time you saw a house getting it wiring replaced? The stiffening of the wiring you mention is most likely due to ageing insulation around the wires on the "extension cord". Heat and sunlight can destroy plastic which is a concern, but some yellowing occurs even if the plastic is in a drawer, not being used. I've experienced this with an old Apple][c computer that I stored in a drawer for a couple decades. The plastic is still strong but discolored. I'm not sure if this pattern applies to all plastics. Some plastics actually become sticky if not exposed to air and sunlight. I had to apply some baby powder to a black and Decker drill that left my hand sticky!
If you want to retire early or get out of the rat race then you’re going to want to be as frugal as possible. If you’re ok working your whole life then get out there and enjoy everything life has to offer.
I don’t let my wife pass the tolls on the toll road instead we take ramp wait at light and go around, I do the same. She tells her coworkers and they all think I’m crazy lol
I was thinking about the same thing now that I have spend so much time inside my house because of quarentine. I can improve my life just by replacing old towels, pillows, t-shirts, etc. I just donated a bunch of old towels that I bought second hand and served me for many years. I think my family will be so happy to use some new ones. Thanks for your video.
There's smartly frugal. Then there's dangerously cheap
It's what you consider is worn out. Or if you even care about cosmetics.
Dangerously cheap here, and I love it. Stephan Graham mention in one of his video that to him being frugal, it is like a game to him, to see how far he can push it, and oh man do I relate to that. More money put away in the stock market for me. One of my life purpose for the past 4 years is investing in stocks and ETFs.
Frugal is a word for losers. Just admit you are a cheap fuck.
@@sevarchy I admit, I am a cheap proud hero. Your hatred towards frugalism gives me strength.
Immortal Jellyfish You don’t understand. I just think the word frugal is a cheap euphemism. Just say you’re cheap, I am a cheap person too. Who cares?
Intially, i did not understand what you were saying. I didnt get how it was profound. But then something clicked. I looked at my old pillowcases, mis-matched towels, chipped plates, the things that annoyed because its function was off (too hot to hold tea cup, got insulated one). It cost so little to replace and resolve. This is a lesson i needed to hear.
just watched 15 mins of a guy talking about upgrading his multi-plugs
I really think it's not about the item itself. It's the concept. I upgraded a dozen other things too.
@@BeatTheBush Do you have a budget for these kind of things? Say $50 per month for entertainment. Then any leftovers can be spend to upgrade your lifestyle. Then again, I consider better lifestyle as a form of entertainment. At least those that ended up making me feel/look good.
You missed the point
@@danskdna8550 it's a compliment
Lmao
I think my favourite videos of yours are the ones in which you share your reflections on your life and maturation, growth, lifestyle I really enjoy your depth...take care, stay safe everybody , love from Italy
I think this depends on each individual. The reason why we live frugally is so we can spend on things that give us a lot of value, things that make us happy. If someone wants to buy $5 coffee everyday because it makes them happy and their finances are solid why stop them? Being cheap and being frugal are two very different things.
I think the main point her would be the aesthetics of things was widely disregarded. I still don't think $5 coffee is worth it but some people's time might be too costly to save even $5 because making it yourself might take 10 mins each day.
BeatTheBush if you can’t take 10 minutes to make coffee, how are you gonna have time for the gym? Or for cleaning your house? 10 minutes is such a small amount of time. And that’s ignoring coffee machines that are cheap form Walmart that do 90% of the work for you! You just put a filter and the coffee and off you go to do something else!!
I agree David. It's individual. If going out for coffee is a part of the day someone really enjoys, esp someone who needs to get to work early or whatever, and they have plenty of money to meet their financial goals, then yeah it's worth it for them. Maybe this same person is also happy driving a very old beat up car as long as it runs okay where someone else may need those new cars regularly. So the coffee might be the deal of the century for some and a wasted expense for others. Just depends. Being prudent with your money (in contrast with cheap) means spending money on the things that make you the most happy, save you valuable time to do things you enjoy, and skipping the things you don't really care about or that cause you not to have money for things you need or future goals. Striking the right balance is everyone's responsibility to themselves.
5:25 “I’m kind of like a person that’s a little bit broken.” I felt that
I prefer cheap because frugal uses an extra letter.
Yep, life is all about balance.
=D
Bank balance.
Where did you get medical insurance at? So cheap???
@@BeatTheBush I usual buy cheap, except when it comes to food.. I love food 🍜
I used to only wear black clothes and blue jeans and I used them for 6 to 8 years; very functional. My mobile phone has a shattered glass: it still functions.
*I will get a new phone in 2021 when my phone contract expires, because then I basically can buy a 600usd phone for 200usd with good deals.
My girlfriend calls me hobo.... 😂
Life has multiple periods of time that might be completely diferent, from my perspective what you did is perfectly natural, you saved and invested to build a solid foundation in your finances which doesn't mean you will spend your entire life like this, most likely you will enter a new phase now with a more rational expending but without excentricities. I believe after another 10 years you will be ready to spend much more but only when you are ready and confortable with it. please analize is your current situation is affecting your life in a negative way (as example if you are looking for a serious relation)
It comes down to finding a balance between not spending unnecessarily and maintaining a certain level of standard for your own life. Going too far in either direction is no good. One thing to point out is that buying things should never be because of what other people might think.
Hydrogen peroxide will restore plastics that have turned entirely yellow.
Ow yeah. I restored my old computer with that and it looks brand new. I will keep it forever and re cap it in a few years. It’s getting around that age. I also want to add fuses so there’s no chance it can burn up a failed component.
Yup. Just a tip. H2O2 doesn’t keep forever. It looses potency after about 6 months after opening. Check for fizz on an enzyme
being extra frugal is key to reaching financial goals especially when we're stuck in the rat race trying to make it out
True. I can honestly say if I spent $1000 more a year on replacing all those worn out things over the years, I probably will reach my FI goals a month or two later. At least replacing the most visible things for aesthetic reasons I argue have significant returns in intangible ways.
@@BeatTheBush I do agree that intangible benefits do need to be considered. Clearly you are good at making informed decisions and how successfully you do it is inspirational. While replacing worn out things (I remember the video on old socks & shoes!) wouldn't likely have impacted reaching your goals, other things very much did. Some things matter a lot! Eating out frequently, always having the latest stuff, being a victim of fashion, always driving a new car, etc. can very much impact on a person's becoming financial independent. Choosing to avoid those things can be considered 'frugal' but if you are doing it with a goal in mind I don't think 'frugal' is the right word. 'Wise' is a better word.
@@BeatTheBush Exactly! Always feels good when you learn more about yourself as you go!
@@rossmacintosh5652 well said Ross, 20-something frugal person here, totally agree!
I am glad you are realizing these things. Really the whole reason for retiring early is to have TIME freedom to enjoy your life more doing the things you have wanted to do and didn't have time for while working. The little things can be more important in adding "quality" to your life than the big things in this regard. Refreshing things from time to time that are old, half-broken, and/or ugly or you no longer like -- especially in your home environment can be very uplifting indeed! From what you said here, it really has been for you. It's all about the small ways you can add quality to your life. Little things can be of more impact than buying something very expensive you rarely use or might get tired of quickly. Thanks for sharing. I'm older than you but I hope many of the younger people here do listen to your advice and spend wisely, but not become too "cheap" in their quest for FIRE.
One thing I will offer as someone who retired early successfully is that even though I was saving over half my income, which meant being careful with spending (and many of my peers would see me as frugal in many ways) I truly was able to spend and buy pretty much anything I really needed or wanted to. It helped me know that when I retired I could live the same and not have to be super frugal once I quit working. If my spending went down naturally over time, great, if not, I didn't have to worry about having to live at a frugal or sub-frugal level and could focus on enjoying all the TIME freedom that I bought via retiring early!!
BTB 2018 Merch “Don’t buy it. You don’t need it”
BTB 2020 Merch: “Just buy it. Stop wasting time”
Is time not more valuable than money? It really depends how much money your time is worth. Personally, I still have a hard time spending say $50 for a service that will take me 1 hour to do if I did it myself.
BeatTheBush I jest, I’m glad to see this change, but just remember to stay true to yourself. It’s very easy to get sucked into the consumerism wormhole just as you got sucked into the frugal wormhole. I find what’s best is finding a balance between the two and doing what makes you happy.
I think you need to put on your face mask and go visit your friend in NYC perhaps she can fill the void in your life 🤷♂️
TheChef Lol. Jenny from OrigamiTree?
@@BeatTheBush it depends on how much you value that service. Doing something yourself rewards you in non-monetary ways as well. The whole business model of Ikea revolves around customers building their own furniture. Even if it's not professionally done, the sense of accomplishment you get from putting something together is worth way more than the money you could have spent having someone else do it.
People change.
Wow!!! I'm so glad you've had this realization!! At 62 I am much pickier about having exactly what I want because it might be my "last" like set of dishes for example.
@@harorider96 yeah it sucks to be honest. Most people my age never expected to grow up. It was the 70s man :). We'd hear our same music for the next 40 years! LOL
Getting a girlfriend will help you spend more! 😅
Probably will!
Word
Ahahahahahhahahahahahhahaahah the truth of the ages
Wife and children to go ballistic.
no lie and keep you broke to lol
Fixing old broken items and getting more use out it is quite satisfying though. This is why I drive a beater car. Function over form!
I use to think that way but appearance has a hidden value that's hard to quantify. I fix plenty of things myself but some things are not worth keeping around when it is 3x past its lifetime like those power strips.
I wish I didn’t buy such a nice truck. I have to take care of it and make sure it doesn’t lose its value. I want a nice car for party nights and weekends. Then a cheap truck to get to work and throw stuff in the back without worrying about scratches.
@@markm0000yes, advantage of having a beater vehicle. Don't care about where you park or getting scratches or dings. And usually done depreciating if it's the right year.
Blue Collar Money & Investing Channel I got a old Dodge Cummins. It has been completely deprecated for the last 5 years and possibility on its way up next year when the economy recovers. I got to take care of it and upgrade it with a new turbo, rebuild auto, and a engine blanket to quiet it down. I also thought about converting it to 4x4 but there’s to much involved in that and it destroys fuel economy. Also, people like things to stay original.
I enjoy house plants. They give me joy but I skimp on the pots. Having to look at crappy plastic pots all the time made me realise although a nice glazed ceramic one might cost more than the plant itself. it's worth it because it enhances how I feel and improves the aesthetic of the plant. I can't look at a crappy pot forever because they will take my lifetime to lose their function.
Yes!
I thought I was smartly frugal, then I started to change my perception on time, quality life, minimalism, etc. and discovered that you should be happy with your life. Everything else is not important.
Wisdom!
Frugal burnout, the struggle is real. You have to first of all be happy. Your happiness is worth everything!
=D Probably got too frugal lol.
I'm the same way.....when I started my minimalistic lifestyle, I wouldn't get rid of it of it works....but the inner adult in me would tell me I cant have things that look ghetto, makes me look like I cant take care of myself.
BTB, good to hear this from you, got to enjoy life a bit more.
im glad as well, time flies by,
=D It didn't cost that much but it was worth it.
@@BeatTheBush The the M3 costs a lot, I hope it is worth it too....lol
I agree 100% - so many people here have a lot of spare money in their bank account, and it acts as sort of a safety net more than anything, you learn not to buy stuff because it might go on sale the next day and you want the best deal, or it will be cheaper next month, or the lost interest that you could get from the bank. But being too frugal can stop you living life right now, it's a balance between saving and spending. Improve your life bit by bit by removing small annoyances - another revelation. Thanks for your time in making this video BTB!
I am so glad you have come around to this way of thinking, life is too short.
I liked your message and in this case, you would be my little brother to whom I'd have suggested the same thing. I'm glad you don't need it as you realized it on your own. Too frugal is bad and too lavish is bad as well. So what is too frugal and too lavish needs to be well defined. Anything that you'd deprive yourself, which is a need for you at your age, would qualify as being too frugal. Today, I bought a trendy Yamaha motor bike for myself, but I could have done that ten years back when I was younger. I cannot get back that time. Enjoying certain things in life during peak of youth cannot be replaced with any amount of money when you are older.
I will have to consider what I am depriving myself of lately and stop doing it. =D
I might be in the same boat as you in terms of buying things for myself. I tend to not buy things and don't focus on materials things. Not being frivolous is important, but we also don't want to do that at the expense of enjoying life or being able to do the things we want to do. Balance is so important in areas of life, so I really like that you focused on this today.
Thanks! I'm good at hoarding money I guess buy not spending any of it while earning it in a couple dozen ways. This in particular focuses on replacing worn out items which has more to do with aesthetics than anything.
BeatTheBush yeah, all things considered, I would rather be too frugal than too frivolous (that causes way more problems), but the money is only useful if we use it!
When I became single I ignored replacing things that weren’t important, like worn out towels, floor mats, things that no one but me sees. But it would appall my adult children. As a single person it just makes more sense to have a healthy savings account because you have no one else who can pick up the slack if your income disappears due to lay-off, health issues, pandemics.....
In other words, you realized that you are worth it. Glad you see that.
I hope to convince others if but one.
I can relate. For the longest time I had no mudguards on my bike. This year I finally bought some, and it's made cycling when it's wet so much better. And they were like $20! Totally worth it. And tomorrow I'm getting new tires and tubes as well. My current ones have done 10.000 kilometers, and I've patched up one of my tubes 5 times.
I do allow myself to spend a little extra every now and then. But my default is being very frugal. And that is great, because it only takes a little bit to add some luxury to my life. Most people, who spend most of their money, have to save up for spending, or even go into debt, to enjoy the same level of luxury that I experience when buying my $20 mudguards.
IMO, It's a very individualized set of priorities for what to spend or what not to spend. For example, 1/4 - 1/3 of my clothes are from Goodwill. I still drive a 1995 Camry but I have no problems buying a new 2.5k laptop and a 3.5k saxophone because those items brings me personal satisfaction. It's a matter of quantifying happiness and getting the best ROI with respect to money spent and units of long term happiness. Ultimately, for me, financial freedom and knowing I don't need to do anything I don't want to tops everything else.
Ha ha, those camry are gold! Next year, you might not even need to pay for emission testing!
Aligns with my thinking closely. Outside of sports clothes, I don't think I've bought an item of clothing in my life (28 years old and most clothing over 10 years old)... but I'll drop USD8k on a carbon road bike. That's double my annual spending Jan-June to date!
I'm frugal, I save over 65% post tax income. One thing I don't cheap out on things like: clothes, a softer bed, better gym, furniture, or electronics that double as furniture. It increases standard of life through experiencing these purchases everyday.
BTB I am truly happy for you, you have done an amazing job accumulating cash, but taking the time to learn what is truly important to you will add true wealth to your life. Find your balance, you have worked hard for this.
There’s definitely a balance when it comes to personal finance! Great video thanks for sharing
=D
Power strips, from my understanding with age the surge protection decreases. Also the cheaper the strip the less joules of protection.
At least in my lifetime, I have never had any electronics break from surges. Never.
@@BeatTheBush That's good!
A power strip is insurance against surges. Even if you've never needed it, skimping on insurance is not always the best idea. (Although $0.00 scooter insurance LOL)
Thanks for this great video! I've been frugal my whole life as well. In the last few years I've been trying to buy better quality items and I've found that it can sometimes save me money by not breaking down so fast. I sometimes go back to being cheap so this was a great message for me to hear today.
What improved my life was a self propelled lawn mower vs a push saved time and calories and less time in the sun
Next mower will be a robot mower which will save me time
What is it like to look at a loss from absence in the stock market?
You're watching it
BTB: Reuses paper hand towels
Also BTB: Buys most expensive Tesla model 3 Performance.
Haha
You know what he values, his ride!
Where did you get that from? I have never reused paper hand towels.
@@BeatTheBush I think you did say in a previous video that you did do that
What's the purpose of reusing paper hand towels? Why not just use cotton towels, wash afterward with soap, and can reuse again.
Is being cheap not getting the guacamole that is 3 bucks extra but being able to buy 50,000$ worth of stocks without hesitation
Sometimes you can spend a dollar trying to save a nickel
Many times! Sales!
Sunk cost fallacy is a hell of a thing.
I agree. Buying something just so you stop spending hour researching or thinking about the product can lead to justifying buying all kinds of unnecessary crap.
You never regret buying Quality
woah this is really good!
Completely understand this and realized the same after going from scraping by as a digital nomad to making good money (relative to cost of living).
My clothes have some weird fungus on them that doesn't go away (doesn't smell, but makes them have a weird texture), and I haven't replaced them all. That'd cost less than $100, or a couple days of income.
I haven't been using A/C for a year+, and didn't just a couple months ago, yet it costs $30/mo at most. Why the hell not.
I've been avoiding ordering grab/food-panda which has a $1 delivery fee and walking 15-20mins to get food and come back another 15-20mins. Sure, a walk is nice sometimes. But it's a gigantic waste of time to do so if you already had a good outing that day. $1 saved is not worth this.
I still struggle going beyond these little things though, as honestly I don't care for a more than basic poor studio apartment that's a couple hundred dollars a month at most. I'm so conditioned to not treat myself that fancy restaurants or coffees just because feels wrong and uncomfortable to me. I'm broken to BTB, you're not alone (:
Oh my... fungus? At least you got those covered already. I could say to spend 10% of what you save on life improving aspects of your life but that's too easy to say. I have a problem buying fancy restaurant meals too often myself. Spending on increasing standard of living is subjective but you can probably see what a difference replacing the fungus clothes have. What if you applied it to other things in your life to make it more aesthetically pleasing?
I mean no offense saying this. But your using the word conditioned and how you're struggling with this may mean that changing your habits through CBT may be really helpful to you! I've been there. Good luck. You deserve not to have to agonize over these things.
for the powerstrip, i would just install it under a table or behind a monitor/workstation. there's no way to make a regular powerstrip look appealing
Yes!
Good point. But then I also think about what is behind the monitor. You will see it when you install it and you will know its there. BUT, I guess it depends if you even care.
@@BeatTheBush well, in this case, it's just a question of cosmetics. so i wouldn't care, especially if visitors don't have to see it or know it's there. if it's worn to the point that it could present an electrical hazard, then of course it should be replaced. always appreciate your videos, brotha
Or just scrub it a little 😉
I will paint it.
If you don't want the power plug, can I get it? Don't throw it away!
Yeah, I've been told im too cheap all my life, I used to give in from time to time, but I decided im just going to be myself and fvck what people think...
Image does matter, and that's why I'm wearing a suite at work as I type, but there is an evident and observable benefit to that. You can be frugal and be attentive to your image insofar as there is a desirable benefit that is greater than the cost..
"Desirable" is inherently subjective btw and cost is partly so. And the benefit need not be monetary.
I think the mentality for being extremely frugal is to never ever spend money when you don't have to. That is, you find the cheapest way to complete what you need to do. This will save you a lot of money but can cost you dearly in other ways.
I've been frugal all my life but as I get older I'm starting to splurge a little.
That looking at things you use every day is spot on. I’ve minimized a lot of things, but I also spend more now on things I use everyday like buying good quality sunglasses, earbuds, watch, belt, etc because you aren’t saving money if you are replacing cheaper quality versions all the time. it’s all about being focused enough to recognize and prioritize what is giving you the best return and prioritizing your money there. It’s a lot like picking stocks.
Amen👍
Way I've always thought of it: one who minimizes cost = cheap. One who maximizes the value of money spent = Frugal. It's very easy to go into being cheap and patting yourself on the back for minimizing the amount of money spent but the second is the one that truly changes it into an investment perspective. It is important to invest in yourself in all forms. Yes I run myself like a business but no I don't regret spending 66% more on something that brings greater value, even during harder times.
I think its definitely all relative, you need to find a good balance between pleasing yourself as well as the people around you while still remaining frugal.
Being too cheep is something that I am a victim of. It has ruined some friendships along with other issues
@Jesus All money gets spent eventually, it's just a matter of when. Savings is just deferred spending.
i think that its all about where you are going, like everything else there is a time to save and a time to enjoy a little
We all have our faults but if you realize this then you can make sure you do not make the same mistake twice. =D
Beatthebush just showed 300k+ followers that we are all learning. Don’t beat yourself and beat the bush. Appreciate the honesty.. thank you for contradicting yourself, cause it shows how human we are. This video is good, obviously you made money so be it. Be happy and let us all help more if we can. And if you think being frugal is good, then so be it.
One thing I’ll pay for are shoes. I like the Clark’s brand. $45-$60, but these shoes last at least a decade. Even those downgraded to wear out of the house, they become garden shoes or house cleaning shoes. They have to be dead and gone before they go on to be chew toys for dogs!
I see this as a huge personal win for you, Francis. Thank you for sharing.
Great changes are coming. Personally and also for this channel from these changes personally.
I think you begin to reflect more in your recent videos because we are in depressing times. We all get depressed presently. I find that I am reflecting more as well. I do agree that no matter how frugal we are, we should still buy small things that can make us happy. Nevertheless, most of us need to copy you and be more frugal because we might never achieve our dream of being financially independent otherwise. I personally subscribed to your channel because it makes me think where else I can save to achieve my goal of being financially independent.
Dude needs to realize not everything is centered around saving money ... sometimes enjoy life within your means ... don't always stress over small enjoyments
It sounds like he did
@@harorider96 I think I'm quite alright dont project your habits on me ... I have more savings then you can fathom
Powerstrip isn't really a good example. They can be mounted out of sight & do their function just fine. Replacing them is wasteful. Recommendation: spend your money on experiences.
He’s letting the little things get to him.
He seems ocd, in a kind of good way I think. I bet he tapes his wires at 90 degrees
Be True To Yourself lol
also dangerous if you had a bad powerstrip to start with. i heard bad ones can start fires.
Always buy belkin power strips. Link in bio!
Our possessions send social signals whether we like it or not. Potential romantic partners especially will respond to these signals. Romantic endeavors require wasteful expenditures that signal economic success. I would like BTB to tackle this tricky problem. I think it's the fly in the ointment.
I actually look for the opposite. But this is both rare and hard to spot, meaning the whole game becomes 'needle in a haystack' like, I do however agree with what you're saying
for how the vast majority of people work
Being too cheap can be a time waster and stressful. If you spend hours and hours trying to save a couple bucks it’s wasting time. Maybe you have more time than money but not everyone does...also if you can’t let yourself buy or spend on something you want you can stress out about it. I have done this many times and I get it from my mom. But, she doesn’t want to change, she doesn’t mind being so cheap but I do sometimes.
At what point can I do this?
I have 100K to my name, and am 21 years old. I don't own a home yet and live with parents. I think at this point, my obligations for a home and other things makes it not smart to buy stuff yet.
I would skip buying a home and start a business that is in high demand and requires a low investment.
Around 40.
Unless there's someone specific you need to level up for!
Nothing wrong with using old clothes around the house. Holes rips and stains is ok. Then when it gets too bad, cut it up to use as rags
I like watching hgtv and seeing all those people wearing new polos and nice jeans to do yard work and painting. They look nicer than I do when gardening esp. paint is ok, but when it gets in my hair........😀
Don't ya'll get afraid of visitors? Like what if your in ripped stained clothes and some friend or family come surprise visit you? I have a certain standard even just cos if someone comes over at any time I want to look like I care about myself enough to not wear whatever comfy ripped rag I have. Sorry if that sounded offensive. It's actually caused me pain to throw out my comfortable ripped clothes but it was needed
kassie p yes I am one of those that run in the back to throw on something somewhat presentable when non family comes to visit. But it is like be 80-90 degrees here so unless I am hiding in the ac, it’s tanks and shorts all day. Plus everyone knows I am cheap 😀 so there are no expectations
@Amusis so true! Doesn't have to be new or really nice, just kinda something that says "I care about my myself". For me sometimes when I wear raggy clothes I have my jewelry on and hair done up or some nice lipgloss on and that's kind of a "I've made a effort to look like I care" lol
Did you moved your furniture around? I know you are frugal, or let's be real, you're cheap. But you're single and don't have any dependents to worry about. I don't mind. As long as you're happy and healthy. It's all good. Its like, I have an aunt who's so cheap, that she lives in squalor. She's rich. But she lives in filth and in a fire hazard. One day, we will have to dig her out of her mountain of hoarded stuff. That's where I draw a line.
I don't replace old but functional things because of an environmental ethic not from a frugality angle
Donate it.
People live frugally. Also be generous at the same time. I am frugal in my habits, but i also like to give away bunch of my stuffs and money to a greater cause or to help people in need.
Good idea. And if you are able to, you can give away all those things you are replacing. Win win.
Yes, because you are frugal, but, you are not fearful if you are giving. If you are not giving you are coming from a place of fear.
I LOVE videos like this! thanks for sharing your self-reflection. I have thought about my life
Time to remodel the kitchen
His sink needs replacing big time!
Hey Beatthebush, in your opinion is it worth it for someone to save money by fixing their smart phone themselves?
There is difference between being cheap and being frugal. Now, I am definitely gonna have to check out that desk mouse pad, who knew they even made these. I won't be coming back empty-handed either! Great video!
You have such insight. I tend to try to be very frugal myself. I so agree with buying small things so you're not bothered with them taking up your time. I am older than you and wish I could get the time I have wasted trying to get the absolute cheapest especially on mass produced common things. I recently started paying just a bit more from time to time on gas as many times I go to one of the cheapest in town only to find the savings was very little and my time and gas to get there negated the cost of more expensive gas near by. I have learned quite a bit from watching your videos, though I am far beyond ever being able to be a minimalist. You have inspired me to start selling things and getting rid of that that does not serve me well any longer. We shall see how that goes. I like to know things that are still working go to someone that can actually use them not in the goodwill bins to be broken and scavenged over just to be put in a crusher and sent to the landfill. People are so wasteful to begin with! Thanks again for your insight.
I actually have seen those power strips fail. Also, those cheap power strips scare me from causing a fire. Do you really trust a power strip that is 15 years old?
I guess not so they're gone!
Beat the Bush on a spending spree. Never thought I would see the day!
Seriously, I am. Perhaps I should talk about the crazy things I've been buying?
@@BeatTheBush heck yes. Great video idea
BTB I'm glad you're talking about this, because I've wanted to tell you something for a while. Your kitchen looks extremely outdated compared to the value of your home. I literally have had thoughts along the line of, "man if he invites a girl over to his place she's really going to wonder what's up with that."
When you are frugal for a long time, it's hard to break that habit. I'm at a point in my life where I can buy most things with cash but I find myself "debating" whether I should buy a burger without a coupon.
Oh my goodness... I do the same. Except if I'm travelling, I will be okay with no coupon.
What you could do is put the power strip in some room upstairs where nobody will see it when they come to your house. So you don't need to replace and the way it looks won't bother anyone
I've been told by a relevant professional that I have an addictive personality and low levels of self compassion... which helps explain why I take frugality to the nth degree, then want to take it further... and further.... and 10x further than some other person who is super competitive just so I beat them! Then life becomes unbalanced... so I take up a new pursuit - a new sport - career progression. This clashes with being able to take frugality to the nth degree - and so I become 80% good at being frugal and cycling at the same time. Most people would think that's better than 100% in one thing, but my mind works to the contrary. Great video - watched it twice and encourage others to do the same
Cycling huh? I bet you have one of those crazy road bikes. =D I'm particularly trying to address those who have worn out towels, power strips, clothing that has the elastic broken, t-shirt with holes, aesthetically related things needing replacement.
BeatTheBush I have a worn out towel and flannel to! Both would raise eyebrows I’m sure. Never bought a power strip like yourself 🤣
All my power bars are yellow. I made little fabric covers that match the curtains/cushions. I never get rid of things until they break.
Fire hazard if it sparks?
@@TheRainHarvester 😱Now you are making me rethinking my whole system...
BTB, thanks for sharing! I have been self-reflecting a lot too during this pandemic. Great content!
im here looking behind my rig to see what collor my power strips are! hahah
I really liked this video. Heartfelt and I really felt your pain/ what you were sharing. After reading many books on early retirement/ frugality/ Millionaire mindset/ etc, I have learned to invest in what matters to your daily life's happiness. If you can afford it, like you say here, even 50% improvement to your daily happiness, that is a whole lot. I also feel your pain with "begrudgingly" realizing that the way the world works is that people want to associate with what looks successful. If someone is successful or not is beside the point for most, much of society operates this way, it truly seems to be the world we live in. I am similar, yes, but being very frugal is not always a bad idea. I think it is well worth it in the long run. I liked the example you shared about saving time. That is opportunity cost wasted browsing trying to save, say, an additional 10-50 dollars, maybe, if you get a good find. It's not worth that much of one's life.
Status anxiety. The pressure builds up inside until you end up replacing yellow plugs for white ones
Yeah... fine... I'll replace them at $4 each.
Hey can you make an update video on your Tesla and if you regret buying it now since you sold your stocks and savings rate has dropped significantly? Thanks!!
I am glad you have eased on market timing videos.
Making the rounds on other topics.
I spend so many hours looking at Teslas online. Will buying one help?
Calculate how many hours you predict you’ll look at it and how much you’ll make during those hours. If it’s substantially more than a new Tesla then sure you would be better off buying one.
Nah, I’m not going to change my power strips just because they are yellowed.
Think of it as a donation to charity. If I failed in convincing you, then this video failed you.
BeatTheBush it may end up in the landfill even after I donate it. It’s more of an environmental and the it-still-works reason that I won’t be replacing a yellowed power strip. But yellowed white shoes or watches that I can’t whiten? Sure. Nah, your video didn’t fail me. People value different things. I just learned more about you trying to learn to strike more balance from being too frugal. You seem to want to hangout with some people who may not have the same lifestyle as you, so you may try to get closer to them so you can relate. Nothing wrong with that. Again, this is just my assumption.
Thanks for doing a topic not related to stock market. 👍 It's interesting to hear you justify spending more on things you don't really need.
Don't buy it you don't need it? Now it's, you don't really need it but you should buy it. LOL!
@@BeatTheBush I guess you don't need it functionally, but you may need it for mental wellbeing.
I truly believe this shows so much maturity. To see life as a journey and that your values change with experience. To know that time is limited and if you can, to enjoy all life has to offer. You hear about those old people who everyone thought was homeless but died a secret millionaire. I say , why! Enjoy your resources when you’re alive and share them. It’s so amazing to see wonder and joy when you share your blessings. Remember you can always make more money, you can’t make more time !!
@Beatthebush doesn't the tvs diodes in those degrade overtime?
I enjoy being frugal and very thrifty. I live on $600.00 - $700.00 a month, but most times at $500.00 a month. I am satisfied at the level I live at this stage of my life :)
But how much do you make? If you make $6-7k/month then you can probably let up a bit.
Where do you live? In a small town?
You bought Tesla, you already treat yourself!
Oh... that... you know I cancelled my insurance and it's been sitting there lol. No worries, I will start the insurance very soon and do some videos in it.
BeatTheBush lol I did too cancel my car insurance and registration since I rarely use it. And it save $$$ on gas too BUT I’m not enjoying rides and adventures because of this.
BeatTheBush imagine how many views and new subs you can get by doing Tesla videos. You aren’t maximizing your investments. Take us out for some road trips in the Tesla!!!!!!!
I have a hard time getting rid of my old rags that I call clothes. After this I am going to collect them all and donate. If I keep it at home I will just go back to them cos they r the most comfortable
If it ain't broken, don't fix it
Of course. But what about replacing it for aesthetic reasons.
Thanks for sharing. I'd like to know how come you don't need to pay for car and Scooter insurance:-D (0:52).
I don't think power strips matter much to anyone and the light switches I'd only replace to try to make my house more marketable when selling it but I'm not going to replace my fixtures, bathroom faucets, or kitchen countertops when I plan to live in the same house for 20 years and will need to replace them again right before moving so I get the best price before moving. So I've got 1980's countertops and some outdated lights and appliances. I'll replace the stuff that's most obvious, cheap, and easy like lighting fixtures knowing I'll do it again before I sell to get the most market value.
I avoid wearing clothes with holes in them unless I'm intentionally trying to look poor to avoid being a target in a rundown situation/place. In general clothes last me 5-10 years depending on how often I wear the item and then I wear the worn out stuff around the house or as an undershirt when wearing a hoodie until I have 3 or 4 of those worn out items and then I throw away the worst. This way my nice stuff stays nicer and I don't buy that many clothes unnecessarily.
It's okay to be cheap if you want to be, surround yourself with friends who don't cause you to spend needlessly but don't look like a scrub or cause them extra expense and you're fine, most people won't notice or care.
Following yr videos change my extreme shopping habits n now I try to b not so extravagant. My husband says that you are very wise. Thank you.
Good video, reminds me of student life. Something I think to add is the fact that an obsession with saving can actually hinder one’s participation in social events or new experiences. I had a friend who came from a very well-off family; I knew she had the money to go out or enjoy new things. However when I would invite her somewhere to eat or shop or go (such as a concert or museum), she just didn’t want to spend money. I understand if she simply wasn’t interested, but to me it felt like she was wasting her youth on frugality instead of on exploration and making memories.
Did you give up on trying to time the market yet?
Awww, BTB. We love you and we are glad that you are making progress and sharing your progress with us. There’s no need to feel bad, but you are not frugal in sharing your experience and expertise with us. Just be gentle and kind to yourself is what I'm trying to say!
The key is balance! Enjoy life today and invest in a better tomorrow. For me, I set an annual budget with a reasonable Food & Entertainment Budget. When I underspend to that budget, I let it build up into a slush fund I can use toward "bigger purchase items". Then you don't have to sweat spending the money when you want to. You are following your plan. My budgets are conservative, so when I come into more money than anticipated, I split it up between savings, investments, and my slush fund. This allows me to get further ahead in my investment goals and enjoy a little as well.
Those power strips do have age limitations on them since the capacitors go bad over time which could cause it to catch fire. To save money, i would look more at cell phone, cable and insurance policies.
Why would there be a capacitor? Maybe a fuse.
@@TheRainHarvester power strips don't have capacitors afaik but they should definitely be replaced. After lots of duty cycles, the wires builds up tons of resistance. They will get stiff. This heat stress transfers into the outer plastics and could be an easy fire hazard. This is rare since most people simply get rid of them when they yellow or move apartments but the possibility is still there. It's cheap insurance just to simply buy another one. Nothing lasts forever, especially items that transfer energy.
@@stickyoxtail I don't think copper wires build up resistance due to use. Otherwise, we'd be replacing house wiring and utility lines every decade. Electronic circuit boards would need to self-tune for aging traces on the printed circuit boards etc. Older houses replace aluminum wiring, but that is a different story. When is the last time you saw a house getting it wiring replaced?
The stiffening of the wiring you mention is most likely due to ageing insulation around the wires on the "extension cord".
Heat and sunlight can destroy plastic which is a concern, but some yellowing occurs even if the plastic is in a drawer, not being used. I've experienced this with an old Apple][c computer that I stored in a drawer for a couple decades. The plastic is still strong but discolored. I'm not sure if this pattern applies to all plastics. Some plastics actually become sticky if not exposed to air and sunlight. I had to apply some baby powder to a black and Decker drill that left my hand sticky!
Im 28 with about 30k and making 50k a year, should be continue being frugal?
If you want to retire early or get out of the rat race then you’re going to want to be as frugal as possible. If you’re ok working your whole life then get out there and enjoy everything life has to offer.
Yes. Frugal until 40 depending on health. Good luck!
I don’t let my wife pass the tolls on the toll road instead we take ramp wait at light and go around, I do the same. She tells her coworkers and they all think I’m crazy lol
I was thinking about the same thing now that I have spend so much time inside my house because of quarentine. I can improve my life just by replacing old towels, pillows, t-shirts, etc. I just donated a bunch of old towels that I bought second hand and served me for many years. I think my family will be so happy to use some new ones. Thanks for your video.