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You are viewing the car thing totally wrong. Who cares about it "losing value"? If you view the car as something that you will use for a lifetime instead of an investment, then you get every benefit from it. Case in point, our sensible family car lasted 31 years. Did it "lose value"? Sure by the end it was worth almost nothing, but who cares? Did it last 3 decades and took us EVERYWHERE safely and on time? Yes, it did. Buying a new sensible car in cash has a lot of perks: A) You get better insurance and years of warranty and extras from the company B) You know that it is good and it was not crashed and repaired C) You control exactly how and where it is maintained through the years. I know I am not selling my car to buy a "black box" car from some stranger.
My grandma had towels and soaps out for display that we were never allowed to use. I loved my grandma dearly, but I always swore I would never have something in my house that could not be used.
My grandma does something similar! She has special soaps and towels for guests… but she actually puts them out for guests like on holidays … maybe it’s something with that generation that it was a tradition to have special towels and soaps! Interesting… my grandma is 103 now, God bless her … but she definitely grew up in a different culture, a different time
@@yvonnes7412well when I go overnight to somebody's house I actually bring my own new bar soap and if they have one out I will use that but I really don't want to be using their bar soap knowing where it goes last from the shower, ha!! I think your/my Grandma's right.
I'll add: designer anything. I used to have some designer purses and had a goal of having a designer purse for each month of the year. 12 years later and my favorite bag is a basic one I bought from Kohls. I don't currently own a single designer anything.
Even used designer bags -- unless I can buy a good quality leather one for under $80. Anything more than that (for me) would make me hurt inside if it got damaged and that's just no fun!
I am retired and travel alot. I travel by car so that I can bring my dog with me. My 2 cats are more of a problem, as I have to arrange for someone to come in and feed them and scoop the litter while I am away. In any case, I have always had pets and can't imagine my life without them. I am quite low-income and it is not a problem to afford my pets and to provide good food and vet care for them.
My grown children have so many great memories of the family dog we had during their childhood. The unconditional love is priceless. Now I watch my grandchildren learning responsibility caring for their pets which still isn’t as valuable as the love. Keep an open mind about a family pet.
I spend £5,000/year on my two dogs and it is the best money we spend. They are our family so the time spent with them is time spent with family...completely different than a hot tub which isn't family!! We bought my wedding band at an auction! It was an awesome deal and it's perfect. We've bought some of our furniture at auction as well.
The main reason why I don't have pets is not even the money. I travel 4-5 months a year and live in a tiny flat. There is just no room for a pet in my life. Despite that? The neighbour's cat regularly comes in through the window whenever he is bored or needs a nap on my sofa. We have become good friends since I moved in. His owner knows and she does not mind at all. He is buddies with at least one other neighbour who he visits around breakfast time and then it is my turn. So this way I get the company of a pet without the responsibilities or costs. 😄
I agree with most of these except the dog one. I love my dog and she brings me so much joy on a daily basis. Well worth the money. If more people were good dog owners the world would be a better place.
Not everyone wants a bigger house (I much prefer small spaces). And I wouldn’t still be here today without my two cats. Pets have been scientifically proven to improve people’s mental health and the unconditional love they give you is priceless.
One FREE items that I stopped getting and accepting are wedding souvenirs. We used to have a display shelf full of wedding souvenirs, but as I grow older, I value a more minimalist and clean room for my sanity. I helped a friend organized their wedding a few months ago, and when they asked me about some ideas for their wedding, I suggested something consumable. They decided to go for drip coffee (since the groom has a coffee business) and decanted manuka honey (since the bride's parents are from New Zealand).
I LOVE my big house. It's an 1898 Queen Anne. The large windows on all sides let in so much light! When the "weather outside is frightful" I don't get cabin fever because there is plenty of room to roam about as well as four stories of stairs to exercise on. I love having enough room for all of our family to gather and be together without feeling like we're on top of each other. No one has to sleep on the couch or the floor. And I clean the guest rooms only when they will be occupied, and then it's just sweeping and dusting. Lots to love about my BIG house. Plus, it's in a very low cost area so it didn't break the bank to buy. When we bought it our adult children said, "Why couldn't we have had this house twenty years ago?" Well, twenty years ago we were living in the Washington DC area (husband in the military) and a house this size (4400 sq ft) on this size lot (1.25 acres) would have been over a million dollars, totally unaffordable for us. Location, location, location! We raised five children, three are now married, we have four grandchildren, so far. It sure didn't make sense to buy a smaller house. Where would everyone stay when they come to the family dinners and annual reunions? It makes sense to buy a new car if you plan to keep it for at least twice as long as the loan. It only loses value if you choose to or have to sell it in the first two years. But maintain it well and keep it for 10-20 years and it is well worth it.
I agree. The size of the home depends on situation and personality. Sounds like your place is perfect for you. I downsized from a small house to a 3-bedroom apartment. I live alone and could easily get by with a 2-bedroom but I love having that extra bedroom. I didn't buy a car until I was in my 40s since I always lived somewhere with convenient (enough) public transportation. When I did end up buying a car, I bought a new one that I loved and that had good safety reviews. I don't know much about cars and don't want to learn, so a new one under warranty was perfect. Again, I got something bigger than I strictly needed - a small SUV instead of a more compact car. But it's useful, reliable, good on gas, and I still love it. It's almost 7 years old now and it's ticking along just fine. I plan to drive it until it becomes unreliable or needs too many repairs. Then I'll probably buy another new one. I also have pets. Again, a considered decision and perfect for me. I can afford the regular bills that come with pet ownership and have pet insurance to help with the cost of emergencies.
Learning to Cook is by far one of the best ways to save money. It’s an essential skill and eating out has become more and more unreasonable to justify post pandemic. Unless your time is so valuable that you may lose money by cooking, then it’s a no brainer. It’s rewarding and you can learn advanced dishes that will taste better than most restaurants
I used to have a hot tub in one of my rental houses, and it was so expensive. Not only did we have to buy things for it, but we also had to pay people to check and fix it. People would do crazy things like spilling wine in the water, which made maintenance even more challenging. By the way, I love all your videos!
I think this is a very reasonable list. Pets are definitely a touchy subject but I think there's a lot of thought that should go into getting one that people don't consider and just jump into yo the detrement of the animal. I did not have pets for many years because of my circumstances. Things have changed and we love our fuzzy family members now, but I think more people should consider the responsibility and lifestyle required to have pets. The house point hit home too. When we bought our house, we bought what we could afford with the amenities we needed. I admittedly hate the shape of our house. I swore my whole life I would never own one of those shoebox looking ranch houses...but here I am. And while the subject of moving has come up many times, I doubt we ever will. Our house is the perfect size for us to meet our needs without being "too much" and it's almost paid off. Great advice, all of it!
The summary of this video is just that don’t buy that things you can’t maintain, and even if you can maintain it don’t buy just for showing and for status.
We do nice restaurants because my son is going into culinary school. This is an expensive we’ve chosen to take on so he can experience different foods in different states and countries.
a friend of mine refurnished their living room, i placed my beer on the table and was immidietly told to put a coaster under it be cause the new table would be damaged by the moisture and without thinking i said "wow you guys bought a table that dosen't work" and once i had started i had to point out that the old table was big enough to serve all the seats but the new one only about half, resulting in some ppl either getting up to reach their drink or holding it all the time. and i don't recall any problems with the old table, it was only "old" sidenote, if your table is slightly damaged, consider painting it before skraping it. makes it look nice and new at a fraction of the price.
I agree about larger houses. I would like to move to a single story home, but everything is so big and so expensive. As far as a new car, I'm on the fence about this. I know monetarily you lose money. My current car is a 2006 Toyota, it's 18 years old and I've not had a lick of issues with it, so I don't regret buying it. Enjoy your videos.
Your points on pets are true, but we who love them just take all of that in stride, and come home to very happy homes. I personally have had to make those choices, and my dogs were the RIGHT choice for my quality of life. I agree with you about so many things. Keep having a happy life, Gabe. We love to learn from you.
I totally agree with all of your points but one: pets are my life. I have a cat and a dog and I wouldn't change them for anything in life. They give you so much for so little. That's why I have an emergency fund for my pets. Thanks for your videos!
your minimalist approach is truly inspiring! 🌱 It's essential to prioritize practicality and value in our purchases to achieve long-term peace of mind and fulfillment.
Always had a rescue cats, but found out im allergic to cats and dogs😢. But agree theres nothing like having a furry member of family worth every penny.😊
3:08 I have had a cat or several because I was never allowed to have one. I used to go find feral ones kittens and adults. As a child in our woods adjoining our house. Bring them back holding them like a live baby on their backs. It is a horrible/separation anxiety to board them. I house and dog sit for a friend and there I am packing. The litter box, litter, carrier, food bowl, and water pan. No way could I ever stray without someone who gives true unconditional love.
If your goal is to be healthy, you should walk more, and if your goal is to walk more, you should get a dog. If your goal is to wake up early and maintain a better schedule, you should get a dog. I feel bad for your kids if they don't have a pet. I don't feel sorry for them, you seem like you'd be a really good dad. But your kids are missing out if they can't experience the love, sympathy, empathy, friendship and responsibility of having a pet. Minimalism is a journey, not a destination, and if you are only looking at the cost of owning a pet, you're missing the point. Kids are expensive, right? A dog is expensive, too.
First off, real estate is a great investment option. (With a possible war on the horizon and the national debt at over $30 trillion) If anything happens to the stability of the US dollar, any money that’s not in real estate will go to 0. 2. Bigger house (usually) means safer neighborhoods and (bigger windows) more natural light. These are very important. There are countless articles explaining the importance of sunlight on people’s mood. The safer neighborhoods are great for raising kids in or walking down the street at night. 3. A bigger house means you can invite more people over or have relatives stay with you (More time with family). Strong healthy relationships were found to be the 1 best predator of longevity.
It's a reasonable list. I do, however, share my life with a beautiful dog friend. She IS my family. On the other hand I never wanted to have children, and made the choice a very long time ago. I feel children cost way more and tie you down more than a dog does. This was not, by the way, the reason not to have children. :) For some children is essential part of family, for me my dog is.
Brilliant as always 💚 completely agree with most I had a dog and it did open up to a different social type ... If I need I don't buy "more stuff" I save for better quality .. Have a Favorite week. Started planning out May.
I agree with your comment about the house and the car. Actually we don't need a lot of space to live in and be happy, and to be honest a most expensive car is not always the most comfortable option.
To some people pets are more than pets, they are family. Maybe a single person gets companionship out of a pet, same for a married couple with no kids. I don't see my dog as an expense or a burden, but a living thing that makes me happy. I get your point and like you said everyone is different.
New car and used car is a huge topic! But I feel that where you live has a big impact to new or used. I live in rural area and I need something reliable. Bought used twice, looked over the car really well and each time something extreme needed to be fixed. Once it was fixed, another thing would need to be replace. 5,000 bucks later I have this piece of junk and could of put that money towards a new vehicle without all the BS. I have a new vehicle and I know what has been done to it, the maintenance, and the care. I don't upgrade or trade in and I plan to have this vehicle for a very long time.
Right there with you, we've bought 2 used cars and the first one had such a big problem it wasn't worth fixing. The 2nd car we spent 6 months looking for something that was perfect. And a year after we got it had to spend $5000 for a repair. We are buying new next time, Our "New" used car ended up costing $11,500, it is not worth that much. Though, at least it works.
I got a new car because it was actually less expensive than many of the used ones available. In addition to the fact that I know that it will be maintained properly, not just hoping that it was.
I agree. We started with used and saved up so that we could buy new for cash. Then we hold until the car dies (setting aside money regularly for that point where it does die and we need to replace it). We aren’t buying status symbol cars - just a good solid car. I think you lose money if you have to finance, buy an overly fancy car and/or trade cars often, but a buy new and hold strategy can make a lot of sense.
I always thought that i wanted this or that really nice thing, but really its just something to worry about getting messed up (and looking uptight): cars, clothes, furniture. Got old furniture, older car and wear jeans or yoga pants and tee shirts. Ive got a small wardrobe of nicer clothes that I hardly ever use. I feel so much more comfortable like this
Yes maintenance for everything… more stuff, more maintenance… and the fancier it is, the more expensive the maintenance… it’s better to have less or have simple things for ongoing peace of mind
I’ve gone from being a more maximalist to a more minimalist lifestyle. I’ve had bigger homes, I prefer a smaller one with less things to manage. I had a hot tub, I now prefer to just have a nice size soaking tub in my home.so much less maintenance and you never use them as much as you think that you will. I’ve lived most of my life having several pets including a dog, now it’s been almost 3 years since my dog passed, I don’t plan on getting another one. I’ve also lost my furry feline of 17 years, we still have another cat so I won’t be adding any new friends. I’ve realized how much time and energy, not to mention the money I have spent over the years on the above mentioned and also the vehicles, boats, vacations , etc. It doesn’t make you happier, it just wears you out. Looking back, it was all just too much to manage all the time in addition to owning businesses and raising children. Enjoying the simple things in life, quality moments with loved ones and having the time to take it all in is what I found to be important in this life. Good work Gabe! I enjoy your videos and content immensely!
I don’t necessarily agree with you about dogs. I love my 2 dogs - they give me lots of joy. Do they cost money ? Sure they do , but I chose them based upon my lifestyle. Little dogs eat less, poop less , travel easily, need less exercise - vet care is about the same. Although, they tend to not need major surgeries like larger breeds. You also don’t see people looking for help training their tea cup poodle. I adore bigger pups , however, in today’s world these working breed dogs are often kept in homes with smaller yards or apartments. They get bored easily if they aren’t exercised or stimulated enough. Taking your German Shepherd around the block after they’ve been left for 9 hours isn’t ample. You have to be dedicated to making sure they have what they need. Approx 700,000 dogs are euthanized each year in the US - most are big dogs. They end up in shelters because people don’t have the time , $, or energy for them. I just wish people would stop breeding their dogs so much. Mom, dad, and whole litters of puppies are surrendered to shelters daily. So sad they all lose their lives over people’s stupidity.
I don’t mean to be uggggggg, but I think you might think differently about some of these things with a severely disabled child. Service dog - finally had my first nights sleep,when I knew she would 100 percent alert before the m monitors. Having a house big enough for equipment and home nursing when needed after surgeries to get my children home asap - priceless!! Having a large, new, specially modified car that fits all the equipment t - absolute gold. It’s just a perspective shift there. Surfaces ( Flooring). that can be sterilized - golden.
There are definitely circumstances where it makes sense to spend the money on something. I don't think this video was ever meant to say these things are never worth buying, but rather, they're definitely not worth buying just because you have the money and want them. A service dog is really not a pet (as almost any service dog owner will tell kids who ask to pet it). A car from BraunAbility, that certainly has function. These were not frivolous purchases, and you didn't have to work hard justifying any of them. The point of this video, I think, was to say these things aren't worth buying if they aren't necessary.
@@arsenalpc4190 there’s more behind that comment than you think; you might not have been a listener for long enough. And yes, kids service dogs are super pets for sure - doesn’t work for kids if they are not; they do double duty. It’s really incredible. And that’s not the car.
I was born disabled and I actually made your point to him in a previous video about how "everyone should work for themselves". I pointed out that many of his opinions are valid only because he and his wife are young, wealthy, healthy, and have healthy children. One medical emergency, major injury, major chronic illness, or disabling condition would immediately change all his priorities.
I was forced into minimalism, by accident, a few years ago and now I never want to turn back. Low footprint. No longer owning unnecessary items that we'll only use once & toss. It's great.
I will concur with the cars. Maybe you are talking from the current situation, after pandemic the old cars gained in value due to the new ones decreased in production (chips from Taiwan were behind) but if you buy a new car, you have years of no break and faults, or covered by warranty. Old cars have had an unknown history and the care level by an owner, or several,of them, and often they become a black hole for money for constant repairs. Our Honda made in 2010 still serves strong, bought new, we looked after it. Also that peace of mind that the car goes without faults for years is priceless. We also had a couple second ha d cars, constantly needed some repairs.
Overall, loved the video, as always. Now for my difference of opinion. I'm in favor of the sit-down restaurant. You know how you said you don't like cleaning? I especially dont like cleaning up after others. It's not a big deal if they come over after dinner and its just, like, cups, and maybe a charcuterie board. But prepping meals for a group means theyre going to leave things I'll have to get back to them, a whole ordeal of dishes from cooking, serving, plating, and post dinner socializing. It also means many guests don't get the hint of when to leave. Going to a restaurant tends to have a 2-2.5 hr CAP. It means I can still go home and unwind a bit before bed. That said, we all tend to go dutch during such meals, so it's nowhere near as expensive as treating all my friends.
If you are in a stable family, pets bring joy into your home. And if you keep eating fast and cheap junk food like Chipotle you’ll end up with a heart attack or cancer sooner or later. Don’t be cheap with food.
Pets: You are the first person to get really real about pets and the cost. I have had 4 pets in my lifetime. So I can say there are times a pet is really good. I adopted a senior dog and he has passed now. My husband and I loved and miss him, but we know what the Real cost was to meet his needs. My husband wants another dog, but I am not having it. There are situations when a pet is good - very good. I’m older and I enjoy that fact that I can plan a trip, hold my mail and be gone 5 days and not worry about rushing back to pick up a dog at a vet and pay expensive kettle fees! I am not a good hearted person, but realistic. So many people are influenced by advertising or think a dog/cats can complete your life. Really? It’s true about the $5K annually. Vaccines Heartworm meds (Senior dogs) extra supplements Food Dog beds Leashes Collars GROOMING (last dog was a cocker spaniel) Good Luck with your channel!
I love our clutter free life since 2019 .My family for all on board during the pandemic .My elderly parents have beautiful antiques that was their parents and siblings . But they also have three of us adult kids and one of my sons live with them to help them and he helped them clean 40 years worth of stuff mostly in the cellar . I got some beautiful things that my grandmother made . She was an artist and made everything . That means more to me then cheap Walmart or target junk !!
In the US maybe the houses went up in size, in the UK they have been shrinking beyond belief, becoming like bunkers, just come home at night, sleep over and off you go spending your daily life somewhere else, ideally working like a mule, until you drop. Little space for furniture, a room that fits small size double bed (and nothing else) is called a double bedroom.
My wedding ring and engagement ring we went to the pawn shop and bought a set for under $200 and then I spent I know under $800 to have them resized, they had to add gold to them to make them bigger and to make sure they didn't break because the bands were really thin, plus they had to reset the stones. The rings are from the 50's so it made it more sentimental to me sense my grandparents were married in the 50's and I was raised by my grandparents. My husband had a very cheap ring that we bought from Walmart but he can't wear it because of his job, they won't let their employees wear jewelry because of the risk of it getting stuff in the equipment. Since he hasn't had to wear his ring for the last like 6 years we have lost it when we have moved.
Good video. The point about buying and selling used cars is interesting. My preference is to buy new and hold it for 15 plus years. I find that buying and selling cars is quite stressful and time consuming. I prefer to minimize the time I spend on those things even if it isn’t the most economical choice. I also like the idea of finding ways to drive less per year. 80 percent of car trips are five miles or less. Ride a bike instead.
I knew the pet bit was going to get you some comments. Our little girl (terrier) makes us very happy. When in Europe one must enjoy a three hour dinner. It’s an event.
This is a reasonable list for sure. I love my home (my first). It is 1542 square feet and more than enough for me and my dog. Also, I love my COVID puppy now 3.5 year old goldendoodle. I can't imagine life without him but that little cute furball is EXPENSIVE LOL. He has better preventative care insurance and emergency insurance than I do. Not to mention the quality food. Oh and now he has allergies so I have to get him a special shot every March! And as I plot and plan moving to France for a season or two, factoring in the cost to get my dog there and back safely is stressing me out. But he is my one big expensive as my daughter is an adult and lives on her own.
What you said about pets can also be said about children...times about 1,000. It's just a matter of which you choose for yourself. Personally, if it hadn't been for my pets, I would have ended myself decades ago.
You have kids and I have pets. I’m not a big fan of kids for many reasons, and I would be a terrible parent. So my dogs and cats are my family, and I spend as much time with them as I can. It just comes down to personal preference, and my pets are cheaper than kids. (Of course, I’ve also done enough traveling due to my career when I was younger, so now I prefer sticking closer to home and traveling in an RV with the pets. I’m completely over the globe trotting and living out of suitcases. It was a blast when I was younger and had weekends free to play tourist, but now I prefer watching the birds and mountains from my back yard.)
Love the tips, Gabe! I'm skeptical of the Tesla for free proposition. With the way used EV prices are sliding, I bet you sell the Tesla in 2-years for $5,000 less than you bought it for. Hope you prove me wrong!
Jewelry depends. I bought my wife a 3500$ engagement ring and it was at an outlet version of Kay Jewlers. Ring got appraised at over 9,000$ and it came with a plan that gets free maintenance. Also, completely forget about the ring lol
The "expensive restaurant" point made me laugh. "it's just a meal, it's just food, better go to taco bell" is so american. Life can be enjoyed in many ways, doesn't have to be that arid.
Agree with everything except hot tub. I use our hot tub at least once a day and it really helps my body feel better. It’s not that much work and the cost is very reasonable. However if you don’t use it frequently then I would agree
I feel about kids like you do about pets. Only - my dog will never deliberately piss me off, is always genuinly happy to see me and it took him 2 weeks to control his bladder.
Great video and I absolutely agree. I consider it a huge red flag if my significant other isnt financially responsible and/or blows through money on frivolous things without much thought. We can certainly afford a number of luxuries but at the end of the day, my partner and I are satisfied with the simpler things in life. We will definitely spend money if it saves us on the single resource no one can get back: time.
I have 2 german shepherds\ 2 huskies, 3 cats and a ferret and they cost no where near as much as that place quoted, as you mention. Emergencies is where the true cost come in, and ofcourse dogs especially take up a lot of time if you're taking care of them correctly and exercising them. Dogs are still better than most people so its worth it. I'll never have another cat again though.
The car bit is important...I mean boy do I want a new car badd...especially a Tesla, but I think about how much of my income just vanishes. At the end of the day, once the new wears off its just a car as you said it just gets you from point A to point B.
Hey Gabe, really love your channel. I was wondering, is it possible to purchase your 90 day journal on Amazon? I live in Japan and want to purchase the journal with CC. Any ideas?
Bigger house == more work == sadder me. There is a size which when we moved up to made it easier to keep clean / tidy, for us it was about 750-800 sq feet for two of us. No interest in going bigger.
I can’t get behind the not having a dog thing.. what does that have to do with anything?? My dog adds an immeasurable amount of joy to my life that I would gladly pay for. Kids aren’t for me but I’m not knocking anybody else who decides that’s the direction they want to take… and they’re FAR more expensive. I turned this off and soon as he started down that path.
I think that dogs can add to your life too and can teach kids empathy early on. But the cost can definitely be pretty big on the negatives side. From what I've noticed though people feeding their dogs bad food though actually makes the overall cost worse due to vet bills. Bad kibble can cost you a LOT.
If I buy anything like books or clothes or mugs it is usually second hand or on sale. I will use it until it literally falls apart or donate or sell it back to the store if at all possible. My boyfriend and I recently agreed that for holidays and special occasions we have ice cream because ice cream is delicious. We have pets so any gifts are for the pets. I guess I don't own many things because I enjoy my right or privilege of decision making. I can find something I want and then take all the time in the world deciding.
Agree with everything but the New Car. I bought a new car (not high-end, something I could easily afford) 3 years ago, and still to this day - every time I get in I love everything about it. We go on a lot of road trips, so having a comfortable car was very important :)
I have my last ‘new’ car for 17 years. I was able to pay cash for my current ‘new’ car. I’ve had it for10 years and expect to have it for another 5 years at least (that’s assuming that I will be around for another 5 years 👱).
I think spending money (budgeted for) at an expensive restaurant very occasionally is fine, you are buying an experience with things you would not have at home. It needs to come together as a whole for me. Otherwise I agree - cook at home..
