These are the 10 things I stopped buying – at the end of the day, it’s all about getting the most value for your time and money as possible – and, sometimes, it’s the smallest differences that can add up to the biggest savings – Enjoy! Add me on Instagram: GPStephan
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ONE: HAIRCUTS
When everything was required to shut down, I had to get creative…so, I bought a professional hair buzzer on amazon for about $70, and my girlfriend started cutting my hair.
*Im not responsible for bad haircuts
TWO: FAST FOOD / FROZEN DINNERS
For the last 6 months – I’ve cut out all junk food altogether since I’ve been working entirely from home. Not to mention, on top of that…when you dig a little deeper, you’ll find that the AVERAGE AMERICAN spends $1200 PER YEAR on Fast Food alone. It’s EVEN been proven that fast food can actually be MORE EXPENSIVE than eating at home, so the notion that “Fast food is cheaper” is absolutely false.
https://www.creditdonkey.com/fast-food-statistics.html
Debunking the “fast food is cheaper” myth – National Consumers League
THREE: GYM MEMBERSHIP
When gyms shut down, I had to find an alternative…so, I bought a bench and adjustable weights, and after watching some YouTube videos on home workouts…that nearly replaced my entire gym. I also supplemented that with 2 miles of cardio 5x week.
FOUR: INSURANCE COSTS
Americans are OVER PAYING for their car insurance by nearly 37 BILLION DOLLARS PER YEAR.. So, if you want to save money nearly INSTANTANEOUSLY, right after this video is done – go and shop around your car insurance, and REALLY evaluate how much you ACTUALLY drive.
https://www.insurancebusinessmag.com/us/news/breaking-news/americans-overpaying-for-auto-insurance-by-nearly-37-billion–study-193807.aspx
FIFTH: PARKING
I just bought an electric scooter to take anywhere nearby. In Los Angeles, it’s estimated that the average driver spends 85 HOURS per year JUST looking for parking…at the average salary, that’s $1735 of your time just WASTED as you sit there, hunting a spot to park.
https://www.geekwire.com/2017/inrix-study-find-americans-waste-73-billion-per-year-looking-parking-spot/
SIXTH: NEW CLOTHES
The average adult spends $161 per month on clothing…and, lets be real…I’m sure most of the time we buy something new, it gets worn a few times, and then it sits in the closets for months or years just collecting dust.
https://www.creditdonkey.com/average-cost-clothing-per-month.html
SEVEN: RENTAL PROPERTIES
Typically, in the past, I set it as my yearly goal to buy ONE property that I could then rent out…but this year, that never happened. I spent the beginning of this year searching NONSTOP for a deal, but I could find ANYTHING that made sense here in Los Angeles that didn’t require a SUBSTANTIAL amount of work. When I began to evaluate how much time it was going to take me to find the right deal, versus my return expanding my own business…right now, it just makes more financial sense to continue expanding my personal brand, creating better content for you, and beginning to diversify into other endeavors.
EIGHT: FRUITS AND HERBS
Instead of going to the store and buying mint, basil, rosemary, passionfruit, lemons, and strawberries…we’ve just been growing out own.
NINE: THE LATEST IPHONE
Just like the fast food budget, the average TECH budget is the same: $100 PER MONTH buying the latest gadgets. So my recommendation, and what I’ve always followed, is just to purchase the last years phone model,…keep it 2 years…and then upgrade to something new, IF you need to.
https://www.eetimes.com/americans-spend-1200-a-year-on-tech-gadgets/
TEN: CAT TOYS
The one thing that’s constantly surprised me is that – Ramsey doesn’t play with cat toys. No matter what he gets, he’ll ignore it…and then just play with the box.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Retired 19 years ago at 45.
I cut my own hair, cutting it close is easy. Yeah, it’s not really about the cost of the hair cuts. It’s the wasted time. It takes me 10 minutes to cut my hair.
Learn to cook…yes. I don’t miss eating out, I prefer my own cooking. 2 years ago I switched to a low carb diet. A tiny bit more expensive but for me worth it. I’m out of the store in 15 minutes once every 2-3 weeks.
Pre-covid I walked 3-4 hours a day, everyday. Love it. I walk past 3 gyms. I also run a bit on walks. Walking is like meditation too and gives me time to think.
I self insurance my house. Home insurance used to be cheap, not today. There are things you can do to greatly reduce risks. Remove big trees, electrical things, etc… I’ve looked at worse cases and whether I could cover the issue.
Buying used clothes has benefits beyond being super cheap. It’s way faster than the mall. I pop in on walks to see if there are shoes in my size and stock up. I once bought a very nice corduroy jacket for $8. That’s as much as it would cost to have it dried cleaned. I’ve never had anything ever dried cleaned. I just buy another one if needed.
Rental properties are work. I’m retired. I do like remodeling so I do that. $250k profit isn’t taxable. My reportable income has been below the need to even have to file taxes. With no income I get Medicaid and a smartphone at no cost to me. No co-payments, no dealing with insurance companies. It’s great.
#8 I actually gave up using black pepper. How whacked is that? The stuff is almost free but being retired is more about freedom than money for me. I found I liked the taste of food rather than everything tasting like pepper. I see people putting hot sauce on everything….that’s all they taste. Boring for me.
Get off social media.
F pets. I like freedom. I don’t need that ball and chain. Yeah, I get it, they’re cute, they appear to give you love. I rather have the freedom to travel. People can be cute and give love too. Pets are pseudo relationships. People fill voids with pets and social media but still aren’t because these things aren’t substitutes for real human relationships. When working yeah, maybe you don’t have time for relationships. When retired you have the time so I take advantage of that.
all these don’t add up to much money Graham, I understand your message but you cannot feel guilty for enjoying small luxuries from time to time. it’s important to be modest but it’s also not bad for your mental health to get a haircut, enjoy a coffee or buy a brand new outfit too feel confident.
I have been cutting my own hair for 10 years and going, don’t have to worry about the girlfriend or wife’s opinion or price
My lovely wife has been cutting my hair for 20 years…
You ever thought of cycling instead of the scooter? its way more fun and those scooters are scketchy
Finical minimalist , if you know you know 😂👍
Whats your opinion on root car insurance?
are grimaces a necessary for thumbnails?
ong you sound like phineas
I’m proud I sent back the 2020 iphone se for $600 and got the Pixel 4a for 350
replacing a 4 year old 500$ phone
I buy all my clothes at thrift stores. Screw expensive clothes from clothing stores XD
Graham, good evening. I’m a GC here in Seattle, go Hawks.. just kidding, I don’t give a.. Im Russian.. )) I had a pleasure though to meet with Mr. Marshawn Lynch – respect to real and genuine people.
Regarding the content – amazing. That is exactly what I was looking for, thank you very much, graceful and humble human being.
Your information is very descriptive, honest and motivating, setting you up for achieving new platos.
And yes – we are going to be driving your RR to the harbour, where my mega yacht for us.. and yes.. taxes.. LOL 😆 🤣
Best,
Ilya Rubel
$$$KEEP it UP$$$
Since when is a healthy choice fast food…
You tip your barber in the US? WTF
Calisthenics all the way
Get a fucking lint roller. Jesus Christ bro
So I did most of these thing. It’s hard for a woman.
ive been really struggling this past year and your videos have really been helping since i found your channel in November! i always wanted to be financially successful but always shot myself in the foot from over spending, wasting money, lack of knowledge and so on. this year i fell into alot of debt from the lockdowns but after watching these videos im starting to feel better about the situation and am starting to plan and scale a way out of it and into a steady living. This video specially right now was really helpful you don’t realise how much things like coffee and fast food add up in the year not to mention over paying on things! cheers Graham you do a great service here and its lovely not being constantly up sold poor courses and false promises.
good thing I can walk to my barber and she only charges me 10 for a cut so 12 dollars tips included every 3 months lol
11: Doing my laundring
Lol these are basically feel good gimmick “savings” you’re making more in a day off videos than you would spend on all these things for an entire year. These “savings” are simply more content for 10k a day ad revenue
you’re not wrong but he’s showing other people how they can save
Yeah your hair looks bad tho. And you make videos.
‘girlfriends can be expensive’..try being married!
right..i’m quitting food to save money..can someone please check on me in 1 week ?..thanks in advance
Been cutting my own hair for 8 mo’s getting pretty good at it but got a mullet noe…. lol lol
smashed the like button!
Stop buying cat toys? Your cat previously ignored you, but now she hates you.
I stopped getting haircuts after covid as well. But since i had no gf, i had to learn how to cut my own hair. (totally worth it)
Been watching you for a year now, never subscribed but I always like every video I watch. I just subscribed too.
Hi Graham to save money you may want to check out charity shops. Once got a cast iron frying pan made by Le Cruset worth about £70.00, $60.00? if bought new, for £8.00, $6.00? A good scrub and it was as good as new.
Just to add in relation to growing food, I have 2 allotments which I rent off the local council for £20.00 per year, I don’t save much money on growing my own but at least I know it hasn’t been sprayed to hell and back with pesticides, and I know it is fresh and not been sitting in some warehouse for days
Gym membership + Haircuts are the best $ I spend…. If you’re trapped in your basement for 10-12 hours per day for work then being able to leave home to get social interaction is worth it. Gym member ship = $20 month and $75 per month on barber are definitely within my budget priorities. I don’t do uber eats or grub hub or any of that nonsense or the drive through coffee shops.
Have not gotten a haircut since June 2019. Out here looking like braveheart.
Did he just say to cook food at home since that’ll save you time? 😂
I love that you named your cat after Dave Ramsey 🙂
Bro I gotta ask… don’t get me wrong, there’s nothing wrong with being frugal, but what’s the point of having all the money that you have if you never spend any of it… like I just don’t understand why you even care about earning more money if you’re still gonna live like you make twenty grand a year.
I started cutting all the heads of hair in my house, including my own, over 10years ago. Just imagine the savings. It’s not rocket science. There are many videos that show you how to do it yourself. There’s a learning curve the first time or 2…but lots of savings after that. Also, I don’t recommend wahl clippers. It looks professional, but get something with less vibration and cordless is so much better. We also have all of our own home gym equipment. If you know you will use it, having at home makes it much more accessible than going to the gym (even before COVID.) We’ve been more consistent. No time/gas wasted driving there. No time wasted waiting for the machine you want to use. I don’t use workout equipment that plugs in/or may require costly maintenance or a subscription to use.
Graham, I’m feeling 35 and going on 65. There are many programs for the 55 and up crowd that reduce our property taxes, utility bills, and discounts on many other things (people can search on the net), I also found out that AAA car and home insurance don’t pay to advertise like those other insurance companies like Progressive, Geico, for rate competition, etc and they are usually cheaper. I don’t smoke, have a good driving record and, if I take a 3 hr online course for driving then my car insurance will go down $10.00+ a month.
Another BIG money savings for me: I have learned to fix and do many rehab projects around the house from a couple rehabs on my country house (damn renters!) and I learned a lot from YT. I recently learned how to put on roofing over my back decks, put in another couple circuit breakers and wire electricity from my house to my shed, put in switches and outlets; I insulated under my home and in my attic (Yuk) but it saved me at least $3,000; sealed my duct work under the house to stop cold air from seeping in, replaced boards on my decks (ok, that is easy). reframed a large glass 8 paned wall on my outside deck, and when I get my rear in gear I will be buying a part online and put an actuator in my van side door so it will automatically open and shut again. The newer cars are harder to work on so I usually have my mobile mechanic do the heavy under the hood/chassis stuff – but I did most all the putting in parts, timed and gapped plugs, including wiring my ’67 Chevy Impala when the wires caught fire! I was 17 then.
Learning how to do all these things gives you confidence and a feeling of independence. Although I’m not the greatest cook, I always seem to find the boyfriend who is good at it and I’ll do the dishes! A win-win! I just discovered you and your cohorts today and been binge watching you all. I’m learning so much from all of you, subscribed, and of course hit the Like Button! I want to start a YT channel and have the same anxiety as you all had in the beginning. Yet, I have no idea what to do but I’m writing ideas down. I’ve been a Mental Health Therapist, Hypnotist & NeuroLinguistic Programmer and Consultant, student of Quantum Mechanics and LOA, Flight Attendant and a few other side careers tucked in here and there. I’ve got skills and I’m ready for something new but I don’t want to start a YT channel until the desire and passion of an idea hits me.
I didn’t expect this would be so lengthy but I want people to think about what it is they can learn to do on their own and it starts with baby steps – first in your MIND: make a Choice to take a Chance or your life will never Change! Hope you’ll see me on a YT channel one day! : ) Tia
Graham I literally love you. I hope one Day I’ll meet you for a talk and an avocado toast 🥑
haircut is 100% non-negotiable for me. But yes, 35 bucks is my price I pay too.
I did pick up the Note 10+ when it launched, but I still have it and I just recently got a new case for it (other one was falling apart and I got a 60$ case for 30% off so things just lined up there) and my intent is to keep it as long as it runs. I really enjoy it and it’s advanced enough I won’t really be behind for a long time.
Pfff. I Live at home with my mom and sold my car. Just made 20K in one day off of Gamestop. Get on my level. 😉
I love how Jason gifted him Beats Headphones and that jacket hahaha
Ugh I just literally packed up and sending back to amazon the clippers I bought to do my kids hair. All they did was complain that it was pulling their hair. I tried putting the oil it came with and nothing worked. 😒 I’m going to give this WAHL a try. But if this doesn’t work then I guess a visit to the barbershop will be added to my expenses. 🤦🏻♀️ HELP!
YUCK MC DONALDS!!! I rather make myself plantain, with salami and a Morir soñando drink. 😉
The one thing I would buy everyday faithfully was a Dunkin latte. But since the pandemic I went to Costco and bought myself the big container of Dunkin coffee, creamer & caramel syrup and BOOM, I can make myself a Dunkin latte when ever I want. BOOM SHACALACA! 💃🏽Saving $5 a day. 💆🏻♀️😂
Man I really thought you were about to sell me insurance
I preach many of these same things all the time. Most ppl waste so much money on stuff they don’t need its absolutely ridiculous. You don’t need ten pairs of pants, ten shirts, ten pairs of shoes, the latest phone, a new car, to go out to eat once a week or more, it all adds up to thousands upon thousands of extra money that could be saved or invested. Most people also flush their toilets even when they don’t need to, keep lights on and things plugged in when not really needed, run water at full blast when not necessary, waste gas and time driving to and from many places they don’t really need to go, the list goes on and on. Not to mention vices like alcohol, cigarettes, weed and whatever else they do for temporary pleasure. It boils down to most people are not truly honest with themselves and constantly lie to themselves with internal dialog like, “I deserve this, Ive worked hard”…”may as well enjoy the moment, theres no guarantee tomorrow will even come” rather than being brutally honest and having the internal dialogue of, “what are you doing, you’re an idiot”…”is this really a good choice Im making right now?” This issue is only amplified by “friends” who encourage people to continue making the same shitty decisions because they themselves are engaging in the same behavior. A true friend would question you, offer constructive criticism, but the problem I see is most people don’t want people in their life who tell them the truth or question their decision making, most people want a cheer leading squad of yes women and men who tell them whatever they wanna hear, even if its nothing but BS. It all starts with honest cold hard self reflection, otherwise a person will continue down the same silly path of wasting time and over spending they’ve already been on.
Me: a 20 year old who spends $0 a year on clothes.
Ramsey is freakin adorable
lol he really named his cat after Dave Ramsey
This video at .5 speed is hilarious
All those spending stats you gave is mind blowing. I’ve made my whole wardrobe last for years without buying anything new. Until last Christmas I was using an iPhone 6 that I got also as a gift when those first launched. And the only reason I upgraded that was because of an unfixable fast battery drain issue. If not for that I’d use it til the circuits burned out.
As a guy with extra long hair i dont get haircuts so yay good savings 😎
also vegetarian so in the uk no fast junk food for me💪
going strong on the saving so far 👍
oh and i live in the countryside so no gym, cafes or parking , do all that at home too
Had all the same clothes for like 5 years so that cool too
Not bought any rentals ever so wow doing great there
As for cat toys, both my cats play with my old hair ties more than anything else so doing well there too..
Damn maybe im a financial minimalist subconsciously 😂
As a barber I don’t approve this
a car is not minimalist, just ride a bike
Marry her
I thought you were gonna mention alcohol and I was like…. my only vice 🙁
#2 ….. god damn number 2
Man doesn’t buy a lint roller either
Getting rid of gym? Jesus Christ. Let me smash the dislike button for the haters algorithm.
Ramsey 🥰
*Gets a speeding ticket*
Graham: “well, I guess I don’t have to eat this month.”
Paying for the gym is not worth it if you’re just going for basic exercise. When the shutdown happened, I realized that I’d rather exercise out in nature and be surrounded by trees, waterfalls, and lakes than be inside a gym all day… so you get the benefit of being in a pleasant outdoor setting too while saving money
Goodwill, thread up, and discount store are great for clothes.
I upgrade phone every 3-4 yrs and get the new one
Ive been cutting my own hair for four years it has saved me hundreds of dollars
I love how cheap some rich people are lmao. Dude has a 13M $ portfolio but doesn’t want to pay for parking or haircuts.
Thing is – I do believe rich peoples knows how to spend money where money is due, while poor peoples loves to spend money carelessly. Also, when you understand the term _”a penny here, a dollar there”_ or however that goes, after a year, that can be a fairly large amount of money. Also rich peoples think long term, saving and safety nets, while poor people usually don’t, and think short term. I honestly believe that 100’000$ would be long gone and spent within a day on something stupid or non-profitable by most people who won, or somehow just received it.
There is sometimes an opportunity cost with free parking, but keep in mind, a lot of his income is passive so spending a bit of extra time for free parking might not change much.
Also, it’s a mindset. It can be hard to turn off. But it can help save a lot more with other things.
“Americans”? What shall that be? You probably mean people from the USA? Now, that’s not “The Americans” 😂😂😂 Ask all the other countries in south and north america.
I use my trusty iPhone 6s. Not only to save money, but mostly because it still features a headphone jack and Touch-Id. I HATE that they removed the jack and I simply will NEVER EVER use a device with Face Id.
Your smile is so cute and contagious 🙂
How can I find someone like Graham?
90 minutes to drive there…park…
Bruh…you added the parking in your time.
“You know it takes me 90 minutes to drive there, take off my seat belt, then I have to open the door. Then close the door, then….”
You could argue that you could be the reason for bad haircuts.
I don’t know if I could give up haircuts. I have a weird dent in the back of my head naturally that is difficult to get the hair to look smooth looking whether I’m looking up or down. I also have a slightly receding hairline that my barber does a fantastic job at making my hairline look good. I used to cut my own hair in the mirror, and it worked, but after I picked a single barber and stuck with them, they’ve learned to cut my hair better and better every time, and it has really boosted my self-confidence.
2:30 wait, people think eating fast food is cheaper than cooking?
Graham, your thumbnails always make me LOL.
George Clooney cuts his own hair!
Are you pokimane’s boyfriend?
I didn’t know the history behind the Ramsey name. 😅
Hair cut was the last of these things I cut out. Now I can’t figure out how I justified paying $30 a month for a 00000 buzz cut.
Like anything gardening is only easy if its something you enjoy. When you enjoy doing something you don’t see it as work. Giving up the gym membership is a hard no, unless you have the space and can afford to create a full home gym.
Even then, you still don’t get the environment that’s necessary to keep you working at your best. Although you did mention discipline which most people don’t have. Working out isn’t just physical, its also psychological too. That’s the motivation you get form seeing others improving that inspire you. You feel like giving up until you see some man in his 60s out lifting the most of the guys in the gym. I would agree with fining a cheaper gym.
As for the clothes? Hmm, that depends. Giving up the designer clothing is a no-brainer. But even a man needs to keep his shoes in pristine condition if nothing else.
One more thing, I couldn’t help but notice there was no mention of the long-term plans. After all, you can spend your life being frugal and saving a lot of money to become a billionaire, just to end up too old and feeble to really enjoy it.
Replace cat toys with kid toys and you get the same effect. Kids love playing with large cardboard boxes. Not so much the toy that was in the box.
I signed up for Yotta using your link and I love it! Someone just won a TESLA!! They really make it fun to save 🤑🙌😍
I hear you buddy! Saving the time and money with going to the barbershop has saved me alot per month.
I have been cutting my hair since the age of 10. It’s been the most cost saving way to go.
this financial stuff is very bad haircut based…guys with beards, Girlfriends need their hair done and nails, its such a nice thing to treat yourself too lol
I can’t smash your Like button anymore. Your constant is great, but it’s interrupted 6-8 times by offensive ads, many for scam financial services.
Graham: Shop around to get a better insurance rate
Me: **cries in BC**
I can agree with all but the haircuts. I’m a barber so a little biased lol
your cat is so cute
Already done no.1 tip
I saved my car insurance by switching to geico
You can’t over spend on insurance if you don’t have one
Shoulda named the cat Dave
Cutting your own hair is not an option if you get a fade lmao.
Buy a lint roller with all your savings
Graham, I too started copping the home chop at the start of the pandemic. My girlfriend cuts my hair in the exact fashion you support. I’m starting to think women spawn with this haircut already programmed.
She killed it. Good job “Graham’s girlfriend”.
but where do you leave your scooters parked safely in LA?