12 Things You Are Spending Too Much Money On

Many people are overpaying for things and here are 12 of those things!

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.

** Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **

[ElAgustin]

What's another thing people overpay for?

[lauracastro]

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).

[simonefeaster]

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😂

[andreabellini]

Austin, I lowered my internet speed (per your recommendation) and I now save $40 a month! Gracias Chico

[tessajetta]

I love your new place. Looks bright and airy.

[tericollier]

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.

[Jacquie_Kirk_]

Regarding cars, i had my honda accord for 22 years!

[MariaCarattini]

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.

[olderandwiser]

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.

[Silhouette-FoodASMR]

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.

[simplefoodsimplelife]

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.

[dank]

(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.

[marianhunt]

Agree Austin, clean water is an everyday luxury and one I'm always grateful for.

[Luncheon]

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.

[kimbeau]

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 👍

[Rita_]

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!

[kimrodgers]

DIY cleaning products. Even cheaper than buying one generic pre-mixed cleaner and works just as well for most tasks.

[rhondalyn]

Thrift shop drapes will solve the lighting issue and soften your living room. Great vid!

[bthomas]

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.

[shirleycurry]

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!