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9 Things That Are a Complete Waste of Your Money

#Make money
2025-09-29 18:3910 min read

Content Introduction

This video discusses nine things the speaker stopped buying in their journey towards financial freedom. It highlights common mistakes that lead to wasting money, such as overreliance on subscription services, excessive purchases of unneeded items, and paying for extended warranties on appliances. The speaker provides insights on smarter spending habits, such as utilizing free services, leveraging rewards from employers, and understanding the true value of investments like diamonds. Additionally, the speaker emphasizes the importance of making intentional financial decisions that bring genuine happiness rather than following societal pressures or outdated beliefs. Viewers are encouraged to embrace strategies that help them save money and build wealth effectively.

Key Information

  • The speaker discusses nine things they stopped buying to achieve financial freedom.
  • One major item is an excess of items bought through subscription services, leading to waste.
  • They recommend canceling unneeded subscriptions and setting reminders to manage recurring purchases.
  • They emphasize the importance of shopping around for car insurance periodically to avoid overpaying.
  • The speaker advises against paying full price for items when there are opportunities for discounts or free access.
  • They caution against extended warranties, suggesting that most do not pay off compared to direct repairs.
  • The speaker also discusses the pitfalls of time shares and suggests alternatives such as dedicated travel savings accounts.
  • They encourage readers to engage in self-troubleshooting for household issues instead of calling for repairs immediately.
  • The speaker promotes spending based on personal enjoyment rather than outdated societal expectations around spending.

Timeline Analysis

Content Keywords

Financial Freedom

The speaker discusses the nine things they stopped buying on their journey towards financial freedom. They emphasize the importance of avoiding wasteful spending and making better financial decisions.

Recurring Orders

The speaker reflects on the danger of subscription services, sharing a personal anecdote about accidentally receiving large quantities of items like oatmeal due to forgetting about recurring orders.

Subscription Creep

The phenomenon of subscription creep is outlined, where individuals forget to cancel free trials and end up paying for unwanted services.

Car Insurance

The speaker advises reviewing car insurance options, noting that many people are overpaying due to loyalty to their current providers, which can lead to significant savings when switching.

Paying Full Price

The speaker discusses the habit of paying full price for items that could be obtained for free or at a reduced cost, emphasizing that this lack of awareness can lead to saving substantial amounts.

Time Shares

The speaker warns against the pitfalls of time shares, illustrating the hidden costs and long-term financial commitments involved in such purchases.

Extended Warranties

The speaker questions the value of extended warranties, sharing statistics that show many people do not use them and end up paying for repairs that cost less than the warranty itself.

DIY Repairs

A personal story is shared about fixing appliances without professional help, highlighting the potential savings and encouraging others to attempt basic DIY repairs.

High Yield Savings Account

The speaker suggests creating a high-yield savings account for savings instead of wasting money on unnecessary purchases, illustrating a practical approach to budgeting.

Related questions&answers

What are some things I should stop buying to achieve financial freedom?

You should stop buying items that are a complete waste of money, such as overpaying for subscriptions, impulse purchases, and things that don't bring you joy.

Why is stopping Amazon subscriptions beneficial?

Stopping Amazon subscriptions can prevent unexpected charges for items you no longer need and help you save money by not purchasing unnecessary items.

What are some tips for avoiding subscription creep?

Set reminders to cancel subscriptions you no longer want, track your subscriptions in a budgeting app, and regularly assess the necessity of each subscription.

How can switching car insurance save me money?

By shopping around for car insurance at least once a year, you may find a better deal, which can save you hundreds of dollars annually.

What alternatives can I consider instead of a timeshare?

Instead of a timeshare, consider creating a dedicated travel fund and using platforms for vacation rentals which offer more flexibility and lower costs.

What is misaligned spending?

Misaligned spending refers to spending money on things that do not bring you joy or satisfaction. Evaluate what truly makes you happy and prioritize those purchases over less meaningful expenses.

What are the benefits of lab-grown diamonds?

Lab-grown diamonds are cheaper, chemically identical to natural diamonds, and do not contribute to unethical mining practices.

Should I buy extended warranties?

Generally, it is advisable to skip extended warranties unless for major appliances, as they often come with high costs and exclusions.

How can I troubleshoot household appliance issues to save money?

Use online resources like YouTube to find DIY solutions for appliance issues instead of immediately calling for a repairman, which can save you significant amounts of money.

What is a budget money map, and how can it help?

A budget money map visually tracks your income and expenses, enabling you to see where your money is going and make informed decisions to save more effectively.

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