18 Things That Are A Complete Waste Of Your Money

Timecodes:

0:00 - Intro
0:05 - Lottery Tickets
1:03 - Gambling
1:54 - Convenience Stores
2:44 - Try Playbook
4:19 - Designer Baby Clothes
5:17 - Clothing Items That You Are Not In Love With
6:04 - Underutilized Subscription Services
7:09 - Bank Fees
8:01 - High Investment Fees
8:46 - Credit Card Interest Charge
9:26 - Peak Prices For Airline Tickets & Hotels
10:14 - International Phone Charges
10:48 - A Home That Doesn’t Fit Your Lifestyle
11:22 - FREE 1-Page PDF
11:35 - Energy Leakages
12:22 - Water Leakage
12:45 - A Car That Does Not Fit Your Lifestyle
13:39 - Overpriced Soft Drinks & Alcohol From Restaurants
14:40 - Gift For People Who Do Not Appreciate Them
15:20 - A Degree That Do Not Lead To A Good Paying Job

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[faithyou]

Lottery tickets, gambling, convenience stores, try playbook, designer baby clothes, clothes that you don’t like, under used subscriptions, bank fees, high investment fees, credit cards fees, peak price for hotels and airfares, international phone charges, too large home does not fit your lifestyle, energy leakage, water leakage, car does not fit your lifestyle, overpriced alcohol and beverages in restaurants, gift that was not appreciated, degree does not pay well

[BrentCoxB]

For me ;
1. Smoking (Horrible, I know)
2. Starbucks
3. Tech I dont need(Overly fancy TVs, gaming equipment, etc.)
4. Ordering out too often

[realheckbit]

I understand the point about not buying clothes you aren't excited about and can't wear right away, but the best time to save money on clothes is buying out of season. Get a flannel in march when they go on clearance and you'll wear it in november.

[ZacharyMichaelsJr]

Oh man, #5 rings so true for me. Whenever I went shopping with my mom and I found something I liked, she always asked me: “do you love it?” I still do this to this day and my wardrobe has slowly filled up with quality items that I absolutely love. Great video, great advice!

[tommyatkinson]

Another one is food waste. Track how much food you’re throwing away one month and adjust your purchases next month to try to minimize your waste. You’ll probably find that you can save a lot of money by avoiding wasting food.

[artistjjebsen]

Surprised retail coffee didn’t make the list. It shocks me every time I see 10 cars wrapped around a Starbucks or DD waiting for 10 minutes, about the same time it takes to make one at home at a fraction of the cost.

[nicodimus]

You had me at "A car."

Even if it does fit your lifestyle, a car is a black hole for money. Unfortunately, unless you live somewhere with reliable public transportation, you'll need one for most situations.

[glazersout]

Agree so much...soft drinks at restaurants are such a waste of money and most of the time, they're not that cold which makes them less enjoyable. I nearly always just get water.

[fredswartley]

Late fees are another source of wasted money. You can avoid them by paying your bills on time. The best way is to automate your bills so they are never late.

[happyinapa]

I love how pragmatic you are—and how quickly you get into your content. The other thing that’s a waste of money is excessive mortgage interest. If your interest is higher than what you can earn in the stock market, pay down the principle. I regularly throw money at my principal, and get immense satisfaction with calculating how much money I saved by doing so.

[Andreyatl]

I won a green card lottery to become the American citizen, and then I won $20, 000 buying a lottery ticket. Only played twice, but I’m glad I did ! )

[johnl]

Tae is a kindred spirit. I’m happy to say that I am 0/18 on all these wasteful things and actually am repelled by each one for the very reason that they are wasteful. Will go way out of my way to avoid them.

A travel tip also: don’t go on vacation in a place or country where the value of your salary is less. It is so refreshing visiting a country like Vietnam or even Korea or Japan (with the exchange rate advantage) where you don’t have to really think about what you’re buying because it is at least 30% less. I feel rich there.

[MrHandyDad]

Buy nothing but necessities. Food, shelter, transportation, etc...
If you need furniture, telecom, etc.. get it used / sales / trade, etc.... Everything else is a waste of time & money. And ALWAYS CASH, not CREDIT !

[amandagallacher]

On the energy efficiency topic, I have a really old GE freezer. I mentioned I may want to upgrade to a new one and our appliance repair man said DONT. The newer models are more energy efficient, but breakdown after only a couple years. He said I'll easily save way more money holding on to the older more durable model. He's also my bro so I trust what he says 🤷

[Sashas]

19, marrying the person who has the same money mentality as you do

[ParkDari]

Always remember anyone posting on here about amazing monthly returns on your investments are scammers. Building your portfolio of boring ETFs takes time and it is years for you to see the significant earnings. That is why it’s called financial tortoise. It’s all about time in the market and by time we mean, decades. Decades of very boring continuous investing. Seriously if they were making all this money one, why would they tell you ?and two Why would they want anyone to know that they have this money and just set themselves up as a target for kidnap and robbery?

[KendraFletcher]

Just found your channel and am loving it! I want to say one thing about degrees and higher education: if this is your dream, your hobby, and your passion, then setting aside the money to get a degree or another degree is not a waste. When I wanted to do a master's degree at a prestigious university 30 years after my BA but worried about the cost, my husband reminded me that many people spend tens or hundreds of thousands of dollars on their hobbies (golf, sport fishing, etc.) and as this was my passion, it would be worth every penny. Has it been? Absolutely.

[therealbrentrolland]

Excellent video. I appreciate you saying, “spending money on a home/car that does not fit my lifestyle.” I didn’t take how I live my life into consideration before into home buying, and this is going to help me be a better shopper. Thank you so much. Happy holidays to you and your family, Tae.

[TylerG]

Tae, I absolutely love your channel and this was a great video. Agree with all of it! Unfortunately, some things are easier said than done. Especially with a wife and two kids that are not always on board. But regardless, we keep moving forward. Keep up the great work.

[fopavirgiline]

Great video. You don't only understand finances but you are contributing alot to save the environment.