12 Things You Are Spending Too Much Money On
ฝัง
- เผยแพร่เมื่อ 9 มิ.ย. 2024
- Many people are overpaying for things and here are 12 of those things!
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Chapters
00:00 Start Here
00:30 Groceries
01:31 Name Brand Products
02:22 Gym Memberships
03:38 Measured Cleaning Products
05:08 Water
06:46 Home Cleaning Sprays
07:36 Internet Speed
08:40 Bills
09:20 Your Phone Bill
09:57 Cars
11:11 Healthcare
12:16 Fun
When presented with various options on products, many people choose to spend money on the more expensive item and overpay. In this video, I share 12 common things people are overpaying for.
1. Groceries
Where you choose to shop for groceries will affect you a lot more than inflation will. Prices between grocery stores can vary over 100% for the exact same product. Choose to shop at cheaper grocery stores to avoid overpaying for products.
2. Name Brand Products
Sometimes there is a difference between name brand and generic products, but oftentimes the only difference is the packaging. And you could paying two times more for that packaging. Default to buying generic to avoid overpaying for packaging.
3. Gym Memberships
You don't need to spend money to be healthy; however, some people like going to gyms. If you are one of those people, choose to go to a cheaper gym because gyms can sometimes cost over $100/month.
4. Measured Cleaning Products
Measured cleaning products like dishwasher and laundry pods don't really create an easier experience, but they drastically cost more. Don't overpay to have your products measured.
5. Water
In the United States, we have the luxury to drink water from the tap, which is not common everywhere. People reject this idea and overpay for way buying getting bottled water and the price difference can be 2000 times more.
6. Home Cleaning Sprays
Many people have multiple cleaners for different areas of their house. If you get one all purpose cleaner, you can use it for every area of the house.
7. Internet Speed
Many people are paying for more internet than they need by getting a high mbps. The average person needs about 25mbps unless they are using many devices at once. Check your internet speed to make sure you're not overpaying.
8. Bills
If you take the time to go through your bills, you can find discounts for doing very simple things like setting up autopay and paying through your bank account. People overpay on bills because they don't take the time to look for these discounts.
9. Your Phone Bill
Most people choose to go with a main carrier for their phone and overpay. If you switch to Mint Mobile, you can easily cut your bill in half.
10. Cars
Cars are one of the biggest wealth killers as they are a huge financial burden. Many people overpay on their cars getting features they don't use.
11. Healthcare
In the US, it is more common to be unhealthy than healthy and this is because of how our society is set up. We view healthcare not as prevention, but as cure, which makes people overpay.
12. Fun
Many people run into financial problems because all of their activities are connected to spending money. There are many activities, however, that do not involve spending money and you can avoid overpaying on fun if you find some activities.
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What's another thing people overpay for?
Hair care. I've been clipping my own hair for nearly twenty-five years (but then, I was balding badly so it made sense). Plus no need for shampoo or conditioner.
Fast food delivery. Fast food has become more expensive than ever and now people are paying even more to have it delivered (DoorDash, etc). And yet everyone says they don’t understand why they’re always broke. This is part of the reason.
Cars and monthly payments 😊
Since watching videos like yours. I payed off one credit card and I don’t buy take outs or start bucks anymore.
Powdered laundry detergent is even cheaper than liquid. (if you can find it)
Let me tell you this little secret: Branded food products and generic brand products are literally the same, they come from the same company but different packaging presentation. (I’ve worked for one of those companies).
My mother worked for a large commercial bakery. The exact same bread was sold under six different names. The small loaves were 10 for $1 back in the late 60's at the bakery store.
I worked for Yeo Valley in the UK and found this out. Was genuinely stunned.
No, most of times are not, but you can buy what you want
It is not a secret everybody knows that 😊
Yeah, but finding out which ones they are is the tough thing. Most generic breads and can foods suck
My husband got is degree in food technology. Years ago he told me that the main difference between a brand name canned vegetable and a store brand or generic brand is when they are processed. The first product that is processed and comes off the line is going to be the brand name. After that is processed they do the store and generic brands. That means that the freshest product will be the brand name.
Austin, I lowered my internet speed (per your recommendation) and I now save $40 a month! Gracias Chico
Right on! It's so simple!
Definitely
We lowered ours by $40 and we get the same speed just a hit less data on home internet. No biggie and no overage charges
The challenge is convincing the rep on the phone that lower speeds are available. They're trained to upsell.
This is a revelation - will implement immediately!!!
I couldn’t agree with you more about selective grocery shopping. I recently cut my grocery bill by 30% after changing where I shop. Also agree about cars: I bought the best make I could find (Honda) and I’ve had my car for eight years with no payments. Sure, ever year and a half I may have one decent expense on a repair, but that still beats a car payment by a mile! I intend to drive this car until it drops😂
Regarding cars, i had my honda accord for 22 years!
Everyone I have talked to that has, or had a Honda says they are great cars. I think that will be my next choice for a vehicle.
My daughter just sold her 20 year old Toyota. Runs great. My Toyota is 15 this year. I have a Subaru, base model. Love it. I've owned all the cheap crap, learned my lesson lol
and Toyota
My Honda civic is going on 22 years and going strong!
I got a Honda Fit, that I saved up cash and paid it off! I love that little car even if it’s 15 years old… my sister loves her Toyota vehicles as well! 😃
I love your new place. Looks bright and airy.
It is!
Thanks for the informative video. I mostly agree with you, but when I buy food I look for the quality ( e.g., free range eggs, no antibiotics chicken, organic grains & spices …etc.) I try to buy organic vegetables but not all the time. I read what’s in the ingredients before I buy food items, this can cost more money but I am not spending money on junk foods, unhealthy snacks or ultra processed food.
Free range label doesn't mean free range eggs... they liying about that so much
@@gosiaq87 I totally agree 👍 I think it’s best to buy organic, but honestly, I can’t buy organic all the time.
I do appreciate your videos. How ever not everything is just name brand . Is important to read the label. While I love Wal-Mart I will not buy Great Value is cheaper but is lower quality and has way more sodium. Please read the label them make the decision that fits your budget. One thing I will pay is on food cause what's the point of being wealthy while killing my self with bad food. One more thing you got sick from Ecuador water because your gut wasn't used to the bacteria from that water 🤪 most people over there, well in all Latin America drink tap water.
Just switched to Mint Mobile from Verizon. Suddenly $78/month will now be down to $15. Big yay! For groceries I go with store brands and private labels when possible. Make my own cleaners. The list goes on. My daughter thinks I'm a dork but I'd rather be a richer dork than a poorer dork ... lol.
I didn’t notice the windows until you mentioned it. I don’t see it as a problem. The light is soft. All good tips Austin. Thank you.
It's the small things I think about!
@@ElAgustin 👍
(Abby ryping) I like the percentage difference in price presentation. It is a new way of comparing prices and makes more of an impact than just saying that one is only a dollar more than the other one.
Love the fresh take you bring to facts that we ordinarily should know, but don't really realize. The one about name brands really hits me because I've found out that all these years I've been respecting name brand products more, even if they aren't much better.
Agree Austin, clean water is an everyday luxury and one I'm always grateful for.
I think about it every time I drink water!
DIY cleaning products. Even cheaper than buying one generic pre-mixed cleaner and works just as well for most tasks.
Hello El Augustine! Did you know that you can save even more money on all-purpose cleaning products if you make them from scratch??
Water and a bit of Dawn dish soap (and vinegar for some surfaces) can do the job at a fraction of the cost :)
Love your videos! Keep up the good work 👍
Tuesdays at Two. That's when Walmart delivers my groceries to my house. I haven't been to a grocery store since before Covid. I never fill a cart with impulse purchases like I used to and I stay in my budget,. 😊
Our grocery bill is $500 a month for household of 5. It’s possible; just use local discount grocery stores.
I almost exclusively shop at aldi! They have great prices for most things and have some really delicious stuff
Oh my goodness! I save water and energy and wash my dishes by hand. If you rise and soak, washing takes 5 mins and rinsing another 5. I use my dishwasher as a drying rack and run it through a cleaning cycle once a month to avoid molding issues.
I'm on my third Kia and I've been happy with all of them. I totally agree with you on Mint Mobile, though. I just celebrated my third year with them and the service received for the low price has been phenomenal. Your new apartment looks great, amigo! ❤
That's a lot of KIA's. I have 300,000 miles on my 23 year old Honda.
The first one was totalled in an accident, the second one I sold to my boyfriend and he loves it, still contentedly driving my third. Congrats on your 300,000 miles! I only have 240,000 to go.
Kia is great, have picanto no issue now since 2017 brand new
I make my own cleaning products! So much cheaper and my house is clean! Save $$
I use the cheap ikea microfiber and water ans I have a natural spray cleaner for the toilet/ shower. That's it.
Same here. Corn starch, vinegar and alcohol is a great window cleaner.
@Loretta_C yes! I have all my spray bottles in one area! Saves me so much! Looked at the cleaners in the stores.. oh my so expensive!
Rinse your dishes off after you eat and put them in a tub of soapy water. Let them soak a while and they are very easy to clean.
Amen, right?!
Dish washer fo single is a waste of water and power and soap
@@moro123451 I once bought a brand-new condo that had a microwave and dishwasher. I never used either of them and when I sold it, they were like new and probably increased the value.
Thrift shop drapes will solve the lighting issue and soften your living room. Great vid!
Tip for men that need a daily shave. Don't waste money on disposable Gillette.
I have used a safety razor for years and use quality razors like Astra Premium for $10 a pack of 100. A single razor lasts for 3/4 uses.
I made the same decision a few years ago - each shave costs around 5 cents (I shave every 3 days). The one time cost of buying a shaving handle and brush/bowl is much less expensive over time than disposible cartridges, and I get a closer shave as well. :-)
The windows were fine. YAY! A new place! Good for you. Have fun in Georgia.
I never thought about exploring the "hidden" discounts readily available to everyone. Thx. Augustin! Most don't realize - its the "little" bleeders that sneak up on you. Eliminate those; and you've created a whole new level of financial padding. In fact, saving on those "little" bleeders is a great way to augment to your emergency fund. Why pay them, when you can pay yourself!
Can't stand Walmart. Shop at Publix and some in Aldi here in Florida.
if you buy the bogos and sales you can actually save money at Publix. Aldi is good for produce, do need to check for freshness, spices and bread. Walmart doesnt have many sales and is not enjoyable to shop at.
@@BrianK-zz4fk yes, Luke the BOGOs of items I use routinely. Quality and customer service can't be beat. Like Aldi coffee and lo-carb bread.
great video - congrats on the move! and the window lighting was fine to me! nice and clean, rock on :)
Good video as always, thank you señor Agustin. ❤🙂👍
You are spot on about medical. I have been blessed with good health and try to stay active and eat somewhat healthy just to avoid extra money going to medication.
A lot of great tips on how not to overpay for things. Very easy to overpay on cars and not realize it - there are many hidden costs beyond just the sticker price - the more expensive the car, likely the more expensive the insurance, high potential for larger auto loan amounts and for longer durations, perhaps even premium gas requirements and potentially more repairs requiring more expensive parts for replace.
When it comes to cars we bought cars that were brand new and one of them came with a serious defect. After several years we decided to buy a Volvo that was not new and I can say that it wad the best car ever . So I get it when you say that you never know what you gonna get if you purchase a car. Good job ,Augustin!
Another awesome video, Austin! Saludos desde El Salvador, amigo 😎
1/2 vinegar + 1/2 water in a spray bottle makes a frugal and chemical free all-purpose cleaner
Congrats on the new apartment...looks nice!
Great video Austin ❤
Great video! I didn’t even notice the window brightness you’re good! 😂
No need to apologize for the lighting. Your content is awesome! Found you when you started and you are doing great!! I miss the end of the video where you give the 'video #"
As a woman, I sometimes buy manly products, like razors. They are stronger, and have sharper blades etc. It last longer than the so called woman's razors.
Also men's shampoo tend to be more simple and good for use for woman's hair, without all the fluff around it (and the price). And I love the smell of it :)
I like to buy men's socks in one color (black, grey, etc) which I don't find at the woman's socks department. Or.. I have to pay higher prices..
I also buy items in bulk for a whole year (candles, incense, etc) for a cheaper price, or when on sale.
I have a KIA Soul and love it. Knock on wood, no problems, yet!
I have a Kia picanto, brand new since 2017, no issues. It's a great brand. Perhaps he abused his Kia that's why he is so negative towards it
Try out Aldi and Lidl grocery stores!
Great video.
I pay for gym membership, I am a swimmer 🏊🏼 and I do not have a private pool, so I go every other day to one of three pools in my city, price is the same in them
I learned a lot from you. Thank u so much
I bought a new Kia Rio in 2001. The car only lasted 3 1/2 years. After that, I bought another new Kia. It was better, but every time I had the dealership change the oil or do routine maintenance, they would tell me that one of the exterior lights was out. They would charge me for that. I don't believe the lights were out. I think they were just gouging me for money. No more Kias for me!
Your apartment is very nice, especially with the bright windows. The plants love it too!
I am even more budget minded, I just bought in bulk online cat food and litter tray liners. 50 % off Costco price and delivered to my doorstep. I was so impressed I decided to see if I could cut my meat budget, found a butcher that sells to restaurants was happy to deliver to me, price saving 35% and the quality increased is mind boggling. NEVER GOING BACK
I would argue with your gym membership point, sometimes its better to save time by paying a bit more for a gym closer to you/one that is not so crowded.
Another great video El Augustine! I only buy my groceries at Walmart and occasionally I will hit Publix if they have a few really good BOGO deals 👍🏼
I like to swim so I joined a local community center. I'm not a resident, but even so, with a the senior discount (it starts at 55), I pay $180/year.
Mine costs $15 a year for access to a gym
The light from the windows is great, however, this summer; maybe not. Drapes would help or short room darkening ones that you can open when it’s not so hot.
Fresh meat, fish and vegetables... buying frozen meat, fish and vegetables is always cheaper, usually healthier & you don't have to worry about things going bad quickly!
Prepper Princess has a formula for cleaner. In a spray bottle mix 1/10 Dawn dish soap with 9/10 water. The formula stays suspended after you shake it once. I have used that formula for a couple of years now and I really find it useful in comparison to other cleaners.
Excellent video. Window no problem.
I LOVE my dishwasher
It's a game changer!
6 kids and a junky dishwasher....we tried to replace it but there was some problem with the well water pressure so the old one is back. Back to handwashing it is .
@@breezybre2670eight over here and didn’t have a dishwasher for 15 years of kids. Now that I have one, I never use it. I hate that damn thing. It’s one of those newfangled one that takes over an hour. Spoons fall into the spinning area and all kinds of yuck. Apparently there’s some filter and areas that need regular gunk scoop outs. Uhh, no thanks!!
I don't shop at Walmart for various reasons. Aldi or Lidl is a good substitute. Sprouts sells bulk spices, much cheaper than prepackaged.
Regarding gyms: We don't think the expensive ones will make us fitter. My husband likes working out on his own. He goes to one of those $10/month ones and he's pretty fit. Yet I go to one of the expensive ones because I like having trainers watching what I do, correcting my form, and noticing when it's time to lift heavier. And going to classes means that I *have* to be there at a specific time. No chance for procrastination or putting it off for later.
very good content, thank you for your work! Coming from Germany I drink tap water too but was not able to do this in the US. It was full of chlorine and I had problems to drink it. But cheers if you like it.
hi Austin, I'm from Cambodia, have you ever been to Cambodia? I love watching your frugality videos, thank you for your hard work.
I have! It's a pretty country!
I agree, hundred percent all you say my man!
We bought a 2008 Kia optima that had 23,000 miles on it and are still driving it w 145,000 miles .We have had very few problems with it and are still very happy with our choice! 8:39
Uk we joined walking group once a week its 1 pound
And can mix or go coffee if want after with group but don't have to
Many walking now
Walmart is usually higher in towns where they have driven out all or most of the competition. Some times 200% or more.
Welcome to the Dishwasher Club 🙏🏻⛪🙏🏻 😁
I buy those prepackaged dish washing detergents because they're usually stronger and more effective (I can't find the strong ones where I live otherwise). I use the powder for pre washing, though. Sorry about your car situation. Hopefully you figure something out that cost you less while serving you as well/comfortably. 🙂
You can save money if you have enough cutlery and dishes to fill it up (combined with pots and pans etc, of course) so you can only run a full cycle when it's full. Then, just do a quick pre wash with a little bit of that self dosing soap you mentioned.
Getting tons of forks and knives were the best thing I ever did so I am not forced to run the washer to avoid running out of them before the machine is full.
Would love to shop at Costco, but the entire portion of Southern and Southeastern Illinois doesn't have one...😢
El Augustin, another great video my friend. I'm always excited to wake up and find that you've uploaded a new video. My only question is on the dishwasher. Why or how is it saving you an hour a day? I fully expected you to say that you skipped using it because you would just wash your dishes immediately after using them, which for one person is only 5-10 minutes depending on the size of the meal times 3 meals. I would love to get some clarification on that one. I'm sure there is something I'm not considering.
I was about to make the same comment. As a single person, I clean my plate and utensils right after I eat and it's ready for the next meal. It takes only a couple minutes. If you let them sit dirty, it is harder to clean.
@@JohnAudioTech with his amazingly frugal lifestyle this one really surprised me. But he has said before that there are some things that he is willing to pay for even if they might not fit the frugal mold. Maybe he just really hates washing dishes. :)
He said he’s never had a dishwasher before. Maybe he’s taking advantage of the novelty for a little while. 😉
@@susanmilam2346 I believe that.
I cook pretty much every meal at home and it uses lot of dishes. I actually cook good food too which makes me use multiple pans, knives, cutting boards, etc with raw meat and stuff. I used to enjoy washing dishes, but it was so time consuming!
I would love to have a dishwasher again. I downsized back to my smaller house. It doesn’t have a dishwasher. But, I don’t use enough dishes to have one really. 😊
It's interesting that you bring up water, because I live in an area with very hard water. It means I need to add salt to my washer loads to help soften the water, and it also means that if I use typical liquid or powder dish detergent in my dishwasher, my dishes get a nasty gray film on them and never look like they're really clean. So I use a dish pod designed for hard water. I'd much prefer to buy the non-premeasured version of this product, but unfortunately the company doesn't make one. I wait for sales and use coupons to help bring the price down. Someday we may have enough money to spring for a household water softener, but in the meantime we use the product that works best for our needs. Your mileage, as always, may vary.
No problem because of the window. Still love your videos!
I'm due to get new dishwasher cleaner this week....it will be liquid not pods this time. Wow my life has come down to writing a comment on dishwasher pods yikes!
Lol
You must be getting old. I actually appreciate concentrating on such mundane things now!
Please consider buying a powder soap in cardboard boxes instead of liquid in plastic. Plastic is very hard to recycle and it stays in the environment for centuries!
@@CAGChannel1 Not sure what you mean by the "paper straw category". But yes if you don't want to keep the powder in a paper box (there is usually a plastic bag inside to protect form moisture) and have an empty plastic or glass container at home (or can repurpose one), feel free to do that!
Dishwasher! 😳 i have one and never use it, im single it wouldn't be cost effective to wash one pan and a couple of dishes everyday 😳
Victor from everyday cycling does just fine as a cycling commuter in Atlanta. He has a Brompton....not cheap. If you want to cycle commute, buy quality or you'll hate it.
I use this new solar / wind technology to dry my clothes most of the time. It's called a clothes line. I got one in the basement too. See old is new again!
Hey brother, love your videos. You should do a stock portfolio video since you're a financial plus minimalist channel. We'd like to see your progress.
I'm an index investor, so I don't want to bore you to death!
The issue is, the quality of the food. Theres so much crap being put in our foods that are actually cancerous - which will inevitably cost you way more in the end. Thats why you see those whole food shoppers, which im not even sure if its fresh.
I agree with you on most things but there is a difference in dishwasher detergent. I also bought store brand or the least expensive name brand. Then I ended up with some top of the line pods (three compartment). They work sooooo much better. For me worth the expense.
Windex and bounty paper towels are the main name brand things I buy. I am trying to phase out paper towels though
I own an eco friendly housekeeping company. You don’t need that for glass, just buy a glass cloth and mix a spray bottle with vinegar and water. Scary the glass and dry with the cloth
@@andreabellini6796 well that's exactly what I was gonna say 😁
I started making my own cleaners and furniture polish last year. So much better for me and the environment. I am always shocked seeing people buy water, like at Sams I see them loading up on water. I've always drank faucet water well heck even out of the hose when working out in the yard LOL. I do comparison shop for groceries mostly bc I have found walmarts meat options are not good quality. I typically look at all the discounts at kroger and their weekly loss leader for deals. But the biggest savings to groceries is to stop snacking and buying processed foods
Water filters clean water and boiling it first make it safe to drink
We love our Kia - it's very reliable!❤
I like the brightness from the window. It’s bright and happy not dark and depressing.
I used to be able to buy dishwasher powder here in Ireland but it’s discontinued and it’s all individual tablets now but I buy them in Aldi as they work as well as the leading brand are way cheaper.
Hope you're enjoying ATL so far Austin!
Great tip with using 1 general non-toxic cleaner for everything. I do the same thing; it's less harsh chemicals to breathe in and things still are just as clean. I still spray the shower with bleach tho! :)
I think we would all like to trust our far!s, ha ha. Good advice and presented with humour :)
I've been told by my dishwasher repairman that pods are the worst thing you can do to your dishwasher. He said only use powder!!! Also, when buying a dishwaher, make sure that it really does Dry your dishes. My 7 yr old Frigidare DW has no drying mechanism in it. Ready to buy a new DW any day now.
Shop at Aldi! Their prices run circles around WM
Sometimes quality cost more. You can taste the difference.
10:32 my Kia picanto going strong now since 2017, no issues
Aldi is pretty good for cheap groceries too
Austin, if you, cooking just for yourself, are spending an hour a day doing dishes, you are using too many dishes! LOL But seriously, I agree with everything here but will only add that sometimes it pays to spend more on food, if you're getting fresher, higher-quality and/or organic (i.e., pesticide-free) food. Explore the possibility of joining a CSA (Community Supported Agriculture) where you get fresh organic food every week during the growing season -- in mine, single people usually split a share with someone else as the weekly shares can be extremely abundant. You'll get food of a quality you're not going to find in Walmart. The payoff may be immediate (better taste for a little more money) or more long-term (better health), but it's worth it if you can find the money for it. We drink raw milk from an Amish farm in Pennsylvania -- it's not cheap, but it's wonderful-tasting and better for you than the stuff you get at the local Wawa. Anyway, fun video as always!
When you make 3 meals a day and actually cook each meal, it's surprising how much dishes you create! It was terrible.
So, so many people are telling me that the Telluride is different, that Kia got it together. I’m like, dude, after getting screwed over by that tin can of a Sedona, I’ll pass , thank you very much.
Love my Walmart..
I’m going to Ecuador in three weeks 🎉🎉🎉
ALDI is even cheaper!
I love my Kia Austin. She’s a great reliable car 😊
The biggest waste of your resources is daily take out food & coffee, I see this first hand. One of my siblings make good money, yet has nothing to his name, other than a phone and a PS4, He eats out several times a day, including morning coffee/bagel, etc. Even tho I make like 2 pots of coffee every morning. He could just have free coffee at home. We also cook daily, yet he eats out almost every day. Whenever he buys food to make, it is brand name and organic, Usually the most expensive stuff on the shelf. We keep telling him not to be a victim of consumerism and to park his credit card, which is already maxed out, not to mention student loans and money he borrows from me.
What kind of car does Austin drive 😊
In Australia, Insert Alcohol ($10 at the pub)
My treated city water won't give me dysentary but I still wouldn't drink it. They use chlorine and other chemicals to disinfect it and it also has a high level of arsenic from farm runoff.
I'm buying bottled spring water until I install an RO system.
I really like minimalism and I'm incorporating in my life little by little. One thing that I don't agree with the video was about groceries, I try to get the best I can afford (organic, grass fed, pasture raised, etc) because I believe my health is my priority. Also, water in the US is not really good for you because it has fluoride and I try to avoid as much as I can.