This video is going to be about not wasting money on certain things that many people do. Saving money is more about focusing on the big money savers and not pinching pennies. Here are some of the most common ways people blow money. LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Up To $1400 Value):
The key to saving money isn't pinching pennies, I think this is a good exercise to help for a small amount of time, but doing it for a lifetime is a waste in my opinion and you might end up being featured on an episode of extreme cheapskates which would be really bad for your dating life
Minimalism, extreme budgeting, essentialism, couponing, churning bank accounts, churning credit cards, trying to get things for free, avoiding lifestyle inflation etc. These are all great if done in moderation, but if you find yourself spending too much time on these, then they're not worth it in my opinion
Keeping a detailed budget that you spend a long time on, extreme couponing etc are just a few examples of things that aren't worth it but there are many more. I think some of these things are great. When you're young and you don't have much money, you should keep your expenses as low as possible. I almost think of this as a phase, kind of like keeping your costs low when you first start a business by doing nearly everything yourself. Eventually, you should start hiring things out and focus on the things that really matter though. Same goes with your personal expenses...
Instead you should cut back on the BIG things and then spend that extra time and money in better ways such as investing, real estate, or starting a business. Avoiding lifestyle creep or lifestyle inflation is more about focusing on the big money wasters and not being a cheapskate that keeps track of every penny and nickel
This is an example of the 80/20 rule or the pareto principle where you should focus on the 20% of actions that give you 80% of the results.
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These videos are for entertainment purposes only and they are just my opinion based off of my own life experience and the research that I've done. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.
Sources and further readings for jobs and college degrees:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)
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