10 Things I Don't Buy (Saving Money)

Overspending has become a common problem for Americans – about six in 10 currently live paycheck to paycheck, according to a May 2023 Lending Club report.
Now I’ll let you in on a little secret here, 1 of the fastest ways to stop living paycheck to paycheck… you ready for this.
Now in honor of me sharing with you this ground breaking financial advice, I’m am taking it a step further today and going over 10 things I chose not to purchase in order to save more money. Some of these on this list have saved me thousands of dollars and will continue to throughout my lifetime.

Now we are starting off strong here… This one may ruffle some feathers. For the first thing on the list I don’t buy is actually tipping.

Now please just hang on just one second and let me explain myself. Over the past few years I feel like this tipping culture has gotten a little out of hand.

Now speaking of tipping, there are some items I choose not to buy strictly bc of the fact that I will have to tip as well as pay for additional fees on top of that and that is Food Delivery.
Now luckily with my schedule, I’m not always pressed for time so I am able to step out of the house and go pick up takeout if that’s what I’m eating for lunch that day. I understand that is not the case for everyone but these are just things I choose not to spend my money on.
I actually like taking the time to get out of the house to go pick up lunch or eat it there. Since I work from home..

Did you know that $38 billion is spent yearly on self storage?! $38 billion!!!
According to the Self Storage Association, the 1 in 10 of us who pay for storage are more often homeowners with a garage or attic than apartment dwellers.
Something about me is I love a clutter free home. There is something enlightening about having less stuff around the house.
I would rather get rid of my material items than spend money on a storage unit. I also don’t have a huge sentimental value to stuff. I may have 1 or two things that really mean something to me but other than that and luckily those items are pretty small.
My wife and I always say if we have something we haven’t used in awhile… we get rid of it. No use in keeping it around.

This shirt I am wearing right now is about 8 years old…
I’m a pretty basic guy when it comes to clothes. I have 1 suit I have worn to every wedding or nice occasion I have gone too for the last 10 years. I am due for a new suit soon.

According to a report from Allied Market Research, the global extended warranty market was valued at $129.7 billion in 2022 and is estimated to reach $284.7 billion by 2032, exhibiting a CAGR of 8.4% from 2023 to 2032.
I always preach on having an emergency fund for a raining day. That is cash sitting on the sidelines for when life happens.
Any car maintenance issue or major appliance issue, I know I can cover with my emergency fund. It is an insurance policy I have with myself.
Essentially, when you buy a warranty, you are making a gamble on something going wrong. With me having money set aside for when things go wrong, I don’t have to make that bet.

This is the biggest one. This one has saved me 10’s of thousands of dollars already. Interest on my debts. I do this for my consumer debt
First for clarification, I do have debts on my real estate investments but the best part about that is my tenants pay for that. It is not coming out of my pocket. I just have the risk of owning the property.
When I used to have to pay for interest on my debts, it felt like I was lighting my money on fire and watching it burn. It felt like a waste of money. So I got caught up. I knew I could have a better spot to put my money than paying the bank.

Investing with an insurance company is one of the worst investing decisions you can make. I’m not going to dive into the details here but I have a vid planned for the future.
With the fees included in whole life as well as how hard or expensive it is to try and get out of it steers me away from this product.
Instead I choose to pay for term life insurance. My thought process is if I buy a 30 year term life insurance policy, I have 30 years to get my money right so my family won’t have to rely on the life insurance if I happen to pass after that time frame.

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DISCLOSURE: I am not a finanical advisor. I am sharing my personal opinion on all topics dicussed in my videos. Please seek professional advice when needed.

[MuzicTunes-lknp]

10 Things I never buy:
1. Alcohol 🍸 🍷
2. Drugs 💊
3. Cigarettes 🚭
4. Gambling/lottery tickets 🎟
5. Tattoos 😔
6. Warranties 👎
7. Designer clothes 👕 /jewelry💍
8. Expensive restaurants 🍔
9. Food/pizza delivery 🍕
10. Cable 📺

[mikemccrea]

I cut the cable way back in 1995. I don't buy bottled water. I'm 73 and tap water hasn't killed me yet.

[j.pappas]

Retired during Covid. Sold my house (which had a mortgage on it) bought a smaller, cheaper house in gorgeous countryside for cash. Paid off my car and have since managed to live on my pension, and even add to my small savings. Grow my own veggies and fruit and treat myself to a haircut when I need one. Being debt free is a fantastic feeling!

[DoubleOhSilver]

Notes:
1. Unnecessary tipping
2. Food delivery services
3. Storage unit - get rid of stuff
4. Knick knacks like souvenirs
6. Extended warranties
7. Interest on (most) debt(s)
8. Whole life insurance - favors term life policies
9. Gifts for partner
10. Impulsive putchases - sleep on it

[mozar]

I don’t tip unless it’s a sit down restaurant. I brew my own coffee, so much cheaper. I cook my own food, so much better and cheaper. I don’t buy a glass of wine for $14 or a beer for $10, in fact, I haven’t had a drink since December last year. I cut my hair with some help from my wife. I don’t go on expensive vacations, I stay home, enjoy all the amenities of our condo development, ride on beautiful bike trails for free, etc. I’m very happy with the lifestyle we have.

[lmacdonald]

If you aren’t struggling..paying a little extra to help others is a mitzvah. In fact… if you live where there are parking meters that have expired..putting in a quarter to keep them from getting a ticket is a mitzvah. If you are on a bus and are able to help someone struggling with payment…that is a mitzvah. Lots of small good deeds help make the world a kinder, safer place.

[commonsenseisntcommon]

I ordered a pizza for take-out, went to pick it up, and still was asked for a TIP!!! WTF???

[joegilbody]

Im a retired IT manager and also RN. I am well situated but I still try to save. I do not buy coffee from fast food places. I make my own for around 33 cents a cup. I've learned to replicate most fast food breakfast fare. I have internet but not cable. I buy movies in VHS and DVD formats at thrift stores for 50 cents to a dollar. I also buy clothing at thrift stores. I cook a lot in crock pot. Make extra so I don't have to cook every day. I did have whole life but I no longer pay premiums. I have prepaid my funeral. My dad did that and it made everything easier. Book wise I either get freebies or library books. To save on gas I get rooms or audiobooks. I do my own lawn with electric mower. I was paying 20/wk my battery power is enough for 2 hours of mowing. It is self propelled so easy on my back. No really cheaper but I use bar soap to reduce plastic use. I live in Gulf Coast Florida so for10 months a year tap water is pretty warm so I keep setting on that. I skip fabric softners. 90% of time I wear cheat shorts and tshirt. I do buy on credit card. It is not visa or MC. I recently flew to New England for $20 comfort class with points accumulated on card. I've never paid interest. I pay off bill as soon as it comes in. I've been living this way since I became a widower.

[froggore]

I'm 100% with you on tipping.
I tip:
- servers when I sit down in the restaurant to eat
- bartenders
- hair stylists
- delivery drivers

I DO NOT tip:
- take out food
- any restaurant where I order and pay at the counter (fast food, sandwich shops, coffee shops, etc.)

[formula]

I am living paycheck to paycheck because I pay 6 principal payments to my mortgage every month, and will chop 18 years off my 30 year mortgage. I make my own coffee every morning and rarely go out to eat, and keep my credit card balances at $0.

[rustyknott-W.D]

1: Don't eat in restaurants. Cook your own food.
2: Don't frequent bars. Why pay 3-4 dollars plus tips for a beer when a six pack of the good stuff costs $12?
3: Don't make un-necessary trips by car. Combine as many stops as possible in one trip.
4: Buy store brands whenever possible, they're cheaper and just as good as the national brands. Often, the store brands are made by national brands anyway.
5: Strive at all times to maintain a high credit score. This really pays off in the long run. Oftentimes credit card companies will offer zero interest on purchases for a given term or give you a check for zero interest on any outstanding balances in other accounts. Why not give yourself an interest free loan? My last two vehicles were zero interest loans, all because I had a high credit score.

[TheJackCain-]

To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?

[dyates]

I hear you on number one. I have ZERO problem saying NOPE when I'm picking up my own pizza or take out. That's utterly ridiculous, and the fact that they KNOW it's uncomfortable for some people to say no and they take advantage of that fact, irritates me more than anything. I, by the way, am a VERY good tipper at restaurants and at my corner bar when I go in a few times a week for happy hour, so I'm not opposed at ALL for tipping people depending on and working for an actual tip. Not for someone ringing up the order and handing me a pizza. LOL.

[Christine-cexo]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[stevebubar]

My no spend philosophy… picture the “Knick knack” with dust on it.

[notw]

Covid made me a better cook. STASHING cash no restaurants. No overpriced coffee. Tipping is ridiculous.

[rapp-inmz]

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless.

[lindadorman]

When I sold my home to travel the world, I put a lot of stuff in storage. The intro rate was only $69 month but I ended up being gone for over a year and by that time, it ballooned to over $200 month. After a few months, I moved into a larger apartment so I could fit everything into my own space and get rid of the storage unit. Then I started selling all of it and made $10, 000. So I started my own reselling business and 4 years later, I'm making a six-figure salary from selling preowned clothing and home decor.

[johnsradios]

So I was buying two cups of coffee a day at work about $4 total. I got my department to buy me a Keurig . I’m saving $4 a day, $20 a week, about 1k a year!

[PursuitOfWellnessVsLife]

My parents paid 350 a month for 6 years to let it all go for free. Then we had to clean it out. Hate storage