Frugal People Never Do These Things

[Music] for some people being Frugal is a badge of honor they just love being able to tell you that they found their shoes underneath an open box of dunkaroos in the clearance aisle of Walmart which is why they were able to negotiate down another 10% on account of the cookie crumbs we're America's cheapest family but as M early as that might seem to some people I frankly think the Frugal Among Us with whom I have been known to identify with are on to something here so today I'm looking at a list from MSN the messenger of the modern era about things that frugal people allegedly never do and I'm going to share my real-time reactions on whether or not there's some truth to it but before we get to the list I just want to remind everyone that this YouTube channel is not only gluten-free it's like free free so for my Frugal Friends hit that like And subscribe button with Reckless abandon to show your support for coste efficient entertainment and while you're at it share it with your faithful Frugal Friends from Framingham for real we talking about first thing frugal people never do according to MSN the authority on something impulse shopping this one's interesting It's tricky because spending money is easier than ever before so what even is impulse like if you scroll on your phone and you see it and you buy it is that impulse I mean have you noticed that sellers are highkey stalking you all over the Internet with these targeted ads how did they know I needed a new adult coloring book I didn't even Google it I just talk about it non-stop hey Google order 17 adult coloring books from Amazon that's not normal I think most people can relate to falling for an Impulse Buy in fact a recent survey shows 45% of Americans say they struggle to avoid impulse buys which adds up to an average of $314 every month in other words almost 4 grand a year or 226,000 in a lifetime so do I think frugal people will never impulse by well Never Say Never I mean Bieber didn't but I do think that uh frugal people they spend with cash they're more intentional and they're going to wait a day before making what could have been an impulse purchase so to this one I say thumbs up next on the list frugal people never waste food I think I would I would tend to agree with this one I have been guilty of this as someone who is self-described as Frugal according to Stats us consumers waste about onethird of all purchased food which is equivalent to $1,500 worth of groceries for a four-person household each year and again this comes down to intentionality and self control when you're over that lentil soup that you made yesterday and you're tempted to Uber eat some kebabs from King TTS just eat the soup okay your finances will thank you for it good soup so here's some ways to avoid wasting food number one meal plan actually think about what you're buying why you're buying it what you're going to make from it so that you don't just buy kale for fun hoping that you'll maybe use it before you throw it out you've accidentally given me the food that my food eats another thing you can do is shop your own pantry and fridge when you're making a meal plan and you can use AI to your advantage here just type in all the items you have into Chad GPT and say hey make me a simple meal in under 10 minutes using these ingredients you would be shocked at how many ideas will come up and next thing you can do make a grocery list be an adult our millionaire study revealed that millionaires use grocery list so next time you don't want to do it just think I'm doing millionaire stuff and if you want more help with this meal planning thing I made a whole video on how to use technology to your advantage and make a meal plan real easy and simple with chat jpt I'll link that video below if you want to check it out next on the list of things frugal people never do use credit unwisely here's what the article says unwisely using credit leaves people in unending debt Cycles you should never make this mistake if you are looking to secure your financial future thank you robot who wrote this MSN article I am not a robot so here's what MSN recommends again not me MSN paying the entire balance by the end of the month or more than in the required minimum amount avoiding so many credit cards one with great features avoiding using up your full limit or utilization and monitoring and finding ways to enhance your credit score well I'm going to be honest it's a load of baloney MSN or the robot who wrote this this is a load of barnacles here's why all of that keeps you in a cycle of debt the wisest way to manage debt is to not have any at all to manage okay when people talk about being wise with money they're usually talking about debt management instead of money management when I got out of debt I had more margin when I cut up the credit cards I built well faster because I wasn't playing their game trying to get 2% cash back instead I was going I got an emergency fund I don't need the banks anymore I got my own bank so there you go I disagree with this one I think frugal people don't do debt at all next up on the list of things frugal people never do BU brand names only that's a very specific turn of the phrase there do they only buy name brands no do I think they could buy some name brands sure if that's something they want but I think overall frugal people are going to go generic when it makes sense maybe you want a certain brand of diapers I get it I got my particulars too like when it comes to seltzer water spin drift is the goat there is no conversation about this but here's what I do I wait for spin drift to go on sale at Publix buy one get one and that way I can be frugal about having the name brand other things to go generic with cleaning products trash bags condiments Pantry Staples and paper products now personally I'm not going generic with TP okay life is too short and those Plies are too thin and that's why I became debt free so I can wipe on brand we're a Sherman Ultra strong family stay strong why do you care so much all right let's move through these next ones frugal people never neglect budgeting I'm going to say a huge thumbs up to this one already you see a lot of people think I make too much money to do a budget or I don't make enough money to do a budget well frugal people and people that are intentional with money they're making a plan for their money whether they make a little or they make a lot so budgeting isn't for broke people or cheap people you should be budgeting even when and if you are wealthy next up frugal people never buy new when used works why does that feel like a Yoda quote do or do not there is no try but yes overall I'm going to give this one a thumbs up there are things that I will buy use to save money and one of those things is Furniture like a coffee table not a couch or mattresses I have boundaries but certain pieces of furniture that could be expensive you can buy some great stuff from Facebook Marketplace and the biggest area uh that I think people mess up with here is cars they're buying new cars instead of used cars in order to be safer and have a more reliable vehicle but that's BS because your new car is a used car as soon as you drive it off the lot and it's depreciating in value Like a Rock that's where Chevy got it from a rock next up frugal people never ignore energy waste I don't think they're wasteful with it but do I think they put the thermostat on 60° in the winter to save I don't know about all that I just think they're more intentional about their decisions with it and they're not just willy-nilly so I'm going to give this one a next up frugal people never ignore DIY for things like Plumbing HVAC repairs and maintenance appliance repair sewing window cleaning carpentry car maintenance and wall painting I think frugal people when it makes sense will try to cover something themselves but they know their limits and they're willing to pay people but here's what they do they're going to reach out to multiple people they're going to get bids on the project and they don't just go with the first provider and maybe they negotiate they say hey I'm paying cash would you be able to give me a discount because I'm paying with cold hard cash so for me I'm not a DIY guy I'm going to hire a local handyman or service provider to cover those things but frugal people do stay on top of Maintenance to avoid those big repairs and they have an emergency fund to cover the stuff so that it's not a huge stressful chaotic experience it's just an inconvenience next up on the list frugal people never pay for Unnecessary subscriptions well yeah I mean this is your official PSA here to cancel your tea of the month club membership and we've all been guilty of this if you go to your bank statement and you see all the subscriptions you're paying for monthly you'll realize and this is stats out there that show this most people on average have nine subscriptions and they're paying over 200 bucks a month for this stuff and because frugal people are budgeting they're paying attention to where all of that money is going every month and so that unused star subscription it's not going to go unnoticed we're getting rid of it next on the list of things frugal people never do Mindless entertainment spending again it's said in a very aggressive tone mindless I mean isn't all entertainment at some level a little Mindless isn't that the point of entertainment but yes having the willpower to say no to Mindless purchases and Mindless entertainment that's the key and here's a great quote from Dave Ramsey that sums this up adults devise a plan and stick to it children do what feels good and to me that's what mindless is you're just following your own emotions and feelings of the day instead of following a plan and having some discipline and here's what I love about making a budget every single month a budget allows you to have mindful entertainment I'll see myself out next up on the list things frugal people never do they never sacrifice quality for cheapness here's what the article says compromising quality to save money will end up costing you so much more I like this one and it reminds me of this subculture I've seen there's a subreddit for this tread lightly but it's called buy it for life b l and the idea here is hey what if we actually invested in something we put a little more money into it knowing that it's going to be quality that it's going to last a long time we're talking stuff that can be handed down to our children and our children's children because it's made so well so here's some things the article says don't be cheap on mattresses underwear tires insurance and prescription eyeglasses I would agree with those it's a that's a weird list whoever came up with that but it's a good one so this one for me gets a thumbs up don't sacrifice quality frugal people don't just stay cheap on everything they know what they're doing next on the list of things frugal people never do they never purchase trendy items I like this one I'm going to give it a thumbs up and here's why in 2007 that Fedora that you paid way too much for was giving Jared Leto and in all of the wrong ways by the way but today it's just giving Jared from analytics going to DAV Busters do you like my Fedora thank you things that are on Trend it just means it's not going to be cool a month from now and you just wasted money on it frugal people they're more Timeless okay this is timeless denim will still the denim will be around for centuries to come I'm the king of fashion all right that was a good time I mostly agreed with that list of things frugal people don't do but what I'm really noticing is that you could replace the word Frugal with the word smart or wealthminder replace negligence and impulse with intentionality and discipline you're not trying to flex and compare your life to others and spend your way into a meaningful life you know what your goals are and you're going for it and that means you're spending more intentionally so if you're thinking maybe she's born with it maybe it's Maybelline you're wrong on both accounts nobody is born with this level of discipline but you can 100% develop this over time and get yourself to a place where it kind of becomes second nature and I recommend simply making a budget to kick things off because once you start tracking your expenses and start setting goals for your money you're going to find that making these smart Frugal decisions it'll come much more easily and if you don't know how to get started I've got a whole video on budgeting for beginners and I will link it down below and also if you want to start budgeting for free check out every dollar in the App Store give it a download and get your budget set up in minutes so let me know in the comments whether you consider yourself a Frugal person or not and while you're at it share this with a friend who is definitely not Frugal in the least bit this can be their passive aggressive wakeup call done out of love obviously as always thanks for watching we'll see you next time hey Siri order as much diarrhea medicine as you can from your local retailer or Amazon okay I found this on the web for order as much diarrhea medicine as you can from your local retailer or Amazon check it out emson

Channel: George Kamel

Views: 330,142

Keywords: money, budget, how to save money, personal finance, financial advice, finances, money trends, investing, crypto, retirement, smart money, george camel, george kamel, Frugal People Never Do These Things

Id: 0oqJCDDy1gQ

Length: 12min 30sec (750 seconds)

Published: Wed Jan 10 2024