12 Things I STOPPED Buying (and don't regret) | Financial Minimalism & Saving Money

Especially right now, it’s really important to be saving money. In this video I go over 12 things that I stopped buying (and don’t regret). I simply cut these out of my budget in order to save more money--and I can’t say my quality of life has decreased at all. I try to be a financial minimalist in the sense that I’m willing to spend on things that I derive great value from, but try to cut the things that I’m buying purely out of habit or out of a desire to impress others.

Have you cut any of these things out of your budget? What else have YOU stopped buying?

NOTE: This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).

Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.

[MasonRussell]

Purchasing a stock may seem straightforward, but selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated.

[mitchhills]

Great tips! I’m actually the opposite I was saving so much that I didn’t have fun because I’d worry about the cost. Now I splurge a bit (not excessively) on getting more regular haircuts, going go karting, eating out with friends. I don’t care for brand names etc but my qualify of life increased after spending a bit on fun!

[angelor]

I showed your video to my students- Finance 101. Thank you!

[dazman]

Subscriptions are no joke. One thing you should mention is you can request refunds on any subscription service you have not used. I got back over $300 in the last week by contacting different services I was still paying but not using. Email them, ask nicely and they will do it. BUT if they say no, contact your credit card company and request a chargeback - this will always go in your favour as long as you haven't used the service.

[tarzan]

No cable, no Starbucks (unless when I really need a place to sit and work for a couple of hours), no books (only get from local libraries), no brand names, no movies (converted dining room to a home theater and loving it). Great list!

[BobSure_AKA_PotatoSmasher]

I typically wear my employer's hat in public. People will ask why i do that if I'm not working. My response is always the same: my employer pays me to wear the hat, Nike/Gucci/fill in the blank brand brand doesn't.

[clint]

Oh god. My wife struggles with temptations from name brands, sales, Starbucks, cable TV (on top of Netflix/Hulu), nails/facials, brand new vehicle a few years ago above her budget (before we got together), subscriptions (stitch fix), and movies (my fault for loving movies but I do not buy any drinks and snacks like she does haha). I want to send this video to her without getting skewered lol.

[rebacarmack]

I was buying a Latte” of Starbucks when I was still working-$60-$80 weekly. I’ve tried to realize it is more of a habit- I buy a large bottle of cold coffee in the grocery store and get 4-5 drinks for the price of one and no tips.

[drbe]

I never bought cable except for my short term rental. I am considering eliminating it there. Wish you were someone I knew when I was younger. Excellent advice. I started shopping at thrift stores and yard sales when I was younger. Now it us the trendy thing to do. I still enjoying and finding items, not as much as I used to. I love your stories.

[kathrynn]

I agree about brand names for the most part. However I bought a coach purse on sale for $80, I used it for 3 years, then sold it for $30. My daughter worked at Tory Burch and gifted me a wallet and a leather key chain. I’ve had these items for 5 years, and the wallet is still going strong! I like purchasing those items as I do not have to replace them frequently.

[pjgonzalez]

Totally agree with not getting a new car. I learn that lesson the hard way.

[julissaraquel.]

I agree with everything except buying a new car, but by personal experience. My husband used to buy used cars, which all went bad very quickly. I'm talking about AC not working, defrost during the winter was bad, a tire popped while driving.. we just said lets just buy a brand new one, and were so happy. That's me though.

I like books and love going to the movies too, just don't see myself stopping that.

[sarahtrembley]

I loved hearing these—they are many things I already do (frugal upbringing), but I felt validated, and seeing your enthusiasm and energy is great! One thing that was very interesting to me though, is that although my husband and I have always bought used cars, when we made up an algorithm for buying a new or used Honda minivan, (with a Costco discount lol), buying the new minivan was cheaper (per miles left to drive) than buying a used one— at least in the 2021 market!

[christophercrespo]

You really got me with this video. Great job 👌🏼

[yaelsmileysimckes]

I love having gotten to the point of not caring what's in fashion. I wear what's classic and comfortable!

[BlessingAdachukwu]

Thanks i will apply this to my life and my channel

[Kemaric]

I buy brand named item for their quality and use. Like I buy mainly Brooks running shoes, and Adidas soccer gear (shirts, pants, balls). They just function and look better than the competition.

[FizXify]

I've always naturally had financial minimalism mindset, even more now that I am intentionally looking to be minimalist in all aspect of my life. Probably because I came from a low income background and we were taught to save up for the future. I always gave myself a small monthly budget to spend, another bit for monthly bills and the rest for saving. I basically follow all of these things apart from having cable tv, and that's because I still live with my family and I DON'T have Netflix

[Liaoi_the_braider]

New subscriber because of the information and your lively energy

[tj.marten]

Only one I disagree on is movies.

I’ll go alone during the week at night to escape. I’ll sneak in any drink or snack I want and it’s really relaxing. Granted I only do this a couple times a year. Costs about $10