Stop WASTING your money on THESE 7 things…

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This video is going to be about not wasting money on certain things that many people do. Saving money is more about focusing on the big money savers and not pinching pennies. Here are some of the most common ways people blow money.

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The key to saving money isn't pinching pennies, I think this is a good exercise to help for a small amount of time, but doing it for a lifetime is a waste in my opinion and you might end up being featured on an episode of extreme cheapskates which would be really bad for your dating life

Minimalism, extreme budgeting, essentialism, couponing, churning bank accounts, churning credit cards, trying to get things for free, avoiding lifestyle inflation etc. These are all great if done in moderation, but if you find yourself spending too much time on these, then they're not worth it in my opinion

Keeping a detailed budget that you spend a long time on, extreme couponing etc are just a few examples of things that aren't worth it but there are many more. I think some of these things are great. When you're young and you don't have much money, you should keep your expenses as low as possible. I almost think of this as a phase, kind of like keeping your costs low when you first start a business by doing nearly everything yourself. Eventually, you should start hiring things out and focus on the things that really matter though. Same goes with your personal expenses...

Instead you should cut back on the BIG things and then spend that extra time and money in better ways such as investing, real estate, or starting a business. Avoiding lifestyle creep or lifestyle inflation is more about focusing on the big money wasters and not being a cheapskate that keeps track of every penny and nickel

This is an example of the 80/20 rule or the pareto principle where you should focus on the 20% of actions that give you 80% of the results.

These videos are for entertainment purposes only and they are just my opinion based off of my own life experience and the research that I've done. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.

Sources and further readings for jobs and college degrees:
payscale(provides information on jobs and degrees)

[ShaneHummus]

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[thespanishinquisition]

All I got from the thumbnail was that I should spend money on mixed race men in suits.

[sean]

I’ve had my same iPhone 6 for 5 years, no point in upgrading every year

[aswinprasad]

Speaking of new phones, society has painted this image that if you don't have an iPhone you don't fit in and you are a peasant. I have a Google pixel 3a xl which costs less than $500. It does almost everything an iPhone can do at a much lower price.

[mouad]

The like button turned to blue color, that's magic

[FloRiva]

Get a Toyota, Honda, or just Japanese cars in general. I'm assuming a lot of people who watch Shane's channel watches Scotty Kilmer's channel, both great Youtubers

[solk.posner]

Based on the shirt you wear, you do have a good taste in fashion lol.

[EvzTheVlogger]

Thank you so much for giving such useful advice ✊🏼✊🏼

[Daouz]

I like how you roasting all these time/money wasters 🤣

[abigale]

I’m about to go to college soon and this is absolutely so helpful and straightforward. In this video I realized what I’m doing right and things that I tend to splurge a lot on. Thank you aha

[revin_john]

Wow, are Americans generally this wasteful with money that they should be advised with these facts? Most of these facts are plain common sense people should apply when they are in debt. Like honestly, just make coffee at home instead of spending $5 for 365 days a year. I also have a feeling people are peer pressured to buy latest tech. Great video tho👍

[YesitisDex]

Stay single. No girlfriend. No wife. No kids....all good 😇

[dtphenom]

Have you considered making investing videos? There aren't enough youtubers talking about long term investing compared to short term trading. Maybe discuss how to analyze an ETF or how to choose good stocks for annual growth

[Bo-bbvj]

I liked the video, in general, it was up to your usual high quality and creative standards however
I think the chosen thumbnail goes a bit overboard with clickbait.

[ThisisDaniel]

Loving the money tips Shane, this has been a hot topic for me recently.

[khushi]

These are what my dad always has been saying. ....today i realised that those words were indeed valuable. ....great video Shane ! 💕

[Je.rone_]

My main a and basically only impulse purchase is food, otherwise im impulsively parsimonious

[matinyazdi]

The final conclusion was kinda.... not realistic let’s say

[ibrahimabdullah]

Hi Shane, I have applied to read physics Bsc in September.
My question is I'll be starting at 20 as opposed to 18, I went through quite a bit. When I was 16 I sat my GCSE'S, I passed but wanted straight A's. During the time of my exams I was bullied quite severely (beaten up outside of my exams etc). I resat that year and lo and behold got straight A's.
Here in the UK Bsc degrees last for only 3 years.
Will people judge me if I graduate at 23 as opposed to 21?

Thanks

[Lifeissorich.]

The S&P 500 has returned 10% nominally. That's not counting inflation which is 3%. The real return (what you can eat) of the S&P 500 since 1928 is about 7%. That's what you should use when running your retirement numbers in compound interest calculators cause if you don't you will under save thinking your returns are higher than what they actually are. Plus if your adding in bonds, international funds, EM, etc. it'll increase/decrease depending on the decade returns. The example makes sense though for most teenagers.