10 Things I'm Not Buying in 2021 (Tips for Saving Money)

Today I discuss 10 common items I'm not going to buy in 2021 in an attempt to promote minimalism and save money. While it's certainly more important to focus on increasing your income, there are still lots of tips you can implement to save money to progress faster towards financial freedom.

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#moneysaving

DISCLAIMER:
Neither New Money or Brandon van der Kolk are financial advisers. The information provided in this video is for general information only and should not be taken as professional advice. There are risks involved with stock market investing and consumers should not act upon the content or information found here without first seeking advice from an accountant, financial planner, lawyer or other professional. Consumers should always research companies individually and define a strategy before making decisions. Brandon van der Kolk and New Money are not liable for any loss incurred, arising from the use of, or reliance on, the information provided by this video.

[wc]

1. Meat
2. Gym Membership
3. Gas
4. New Phone
5. Cigarettes
6. Sale Items
7. Books
8. Flights
9. Formal Wear
10. Coffee

[josephj]

Agree with most Brandon. My additional savings tips:
- increased our Aldi shopping. Saving us $100 per week ($5, 000 per year).
- do my own gardening
- fix things around the home I can do. If I cannot, I learn if it’s safe to do so.
- if I get a tradesman quote and my gut says “that’s too expensive”, 100% of the time it is and another quote or two confirms this.
- hold onto mobile phones for at least 4 or 5 years.
- will never buy an iPhone again when I’m ready. Too damn expensive and increasingly frustrating with their compatibility issues with other devices.
- don’t buy bottled water.
- fill car up with fuel when prices are lower, even if my tank is half full.

[ChetanSharma_]

I'm using a 150$ phone for last 3 years. Works just as fine. I don't really understand why people buy phones every year.

[xaviernogueira]

Pro tip: I run an iPhone 6, and the battery has become a HUGE issue (drains in about 45 minutes). So I dropped $35 on an battery case and now it lasts all day, no new phone necessary :)

[ZeLoShady]

I will die before I stop drinking coffee.

[MatthijsLangerman]

The only "expensive" thing I will buy before I leave home will be an old vw beetle. I can maintain it myself, and don't drive to much anyways. I wouldn't have to pay tax on an oldtimer and insurance is cheaper then for a normal car on the same price range. The rest of my money will be invested (some of it less long term (~7 years) for a house)

[grahamelliott]

100% behind quitting smoking

I'm not perfect with nicotine addiction. I've moved around between smoking, vaping, smokeless, non tobacco nicotine smokeless, pouches, gum, etc.

But here in the US - overwhelmingly in the last 20 years, the majority of people who regularly buy cigarettes are *lower income people*. The people who can afford it the least.

[discoministerify]

Me and the boys been thinking: Do you still live in your parents house?

[dollardog]

11. Cutting out haircuts 😉
Locks are looking luscious Brandon and keep up the engaging content! 👍🐶

[ta]

Books - use the local library instead. Some also have ebooks.
Formal wear - use formal hire instead.
Coffee - if you feel you need it regularly, invest in a coffee machine or percolater.

[falsificationism]

LOVE this. Meat, dairy, and eggs can be conceived of as heavily subsidized luxury goods. The externalities of those industries are NOT reflected in the cost...but they're still expensive. Love your approach to this.

[TwoStupidGuysTradeStocks]

I’m with you on trying to be frugal where I can and I agree whole heartedly on growing the income portion as a young invetstor. Thank you for the video.

[MulcahySC]

Lost me at coffee.... haha great content love new money 🙏🏻

[Michael_hampton]

Would be awesome if you could do a breakdown cost video on the Tesla vs a normal car, including the original cost, service costs, fuel/electricity, rego, insurance

[ErenDognn]

I can add few things: "needless" clothes, shoes, household goods, various subscriptions...

[leighjones]

A fellow non-coffee drinker! We are a rare breed :P

[pantherlaird]

Cigarettes = The quickest way to burn your wallet 😵🤮😷

[tumbles]

We recently moved house and are living much closer to my work (and everything really) hence we’ve got rid of one of our cars and I’m now riding to work to save money.

[scottknowles]

I agree that books stack up.... But I check the library first and if it's not there then I look into buying... It's really a fantastic undervalued resource

[nathanhallisey]

I'm not vain. I now give myself a buzz cut with the clippers. Just started this. All good so far.