I’m glad you discussed the expense of pets-I think that the majority of pet owners don’t consider the enormous commitment of taking care of pets resulting in many abandoned or neglected animals.
I agree with you that people need to be aware of all aspects when getting a pet including the financial one and it does spike abandonment rates, but you know what else drives the number even higher? People like him who ditch their pets because it no longer fits their lifestyle, yes he did the minimally decent thing and found the animal a good home, but treating a pet as a cost you can cut or keep is disturbing to me and the sheer fact that he put it on the list shows me they should not have gotten one in the first place. For me personally is a bit like putting granma's medical bills on the list. Hey, she's lived long enough, but her expenses are getting in the way of something I want to splurge on (like fashion). I actually enjoyed his clips until now...
@@danaso2567 I agree. I have no idea how someone could part with an animal. Most people only think of what they get out of “owning” an animal-look at all of the cute tricks I can post to TikTok. They don’t even think about the animal as a complex being with an inner life and needs. MOST people are too selfish and have no business getting involved with animals in my opinion.
I didn’t realize how much it took to care for my pets until I started tracking my spending. Just getting basic supplies like food, cat litter, chew bones, pet insurance really does take a chunk out of your budget. Between all of their expenses plus putting about $100 in a sinking fund for when it’s time for annual vaccines, my pets take about 10-15% of my take-home pay. They are super worth it but it is important to be aware of it.
Spend your money on things that give you value, I drink whisky but only once or twice a week and I don't drink it to be social or get drunk I drink it because I enjoy the smell and taste. You covered some great points in this video, well done! 👏
Thank you for sharing this. I too have always taken my own lunch to work, and more over, its the same lunch for the past 5 years. Hummus, baby carrot sticks and low carb pita bread and a Banana for a mid-morning snack.it’s cheap, filling, doesn’t lay heavy on the stomach. It takes less than 5 minutes to get together in the morning. We’re a single income family but I’ve never felt poor because poverty is a mindset, I’m frugal and I enjoy knowing my lifestyle is budget-friendly and sustainable. I work to live, not live to work.
My husband and I have the same agreement of no gifts... it's been great for us for the last 15 years. If we really want something, we buy it. It is a gift because we don't have to stress out about guessing and/or buying the wrong thing.
I totally feel you on the gift giving thing! I hate that it's the cultural norm that gifting is the default way to show love. I also feel similarly to you about clothing. I don't necessarily have multiples of the exact same shirt, but I have specific guidelines I set for myself about the different cuts and colors of clothing, so that all my tops will match with all my bottoms and shoes so getting dressed is still easy.
I disagree with your advice here, only because you’re telling people how to spend their money instead of telling them how to prioritize. I’m a big believer in the 50-30-20 rule. As long as you save at least 20% and keep your must-have expenses to 50% or less, you can spend the remaining 30% on whatever you want. Just be honest with yourself on what you really need. You need to eat, but you don’t need to go to restaurants. You need to maintain your health, but a gym membership isn’t necessary for that. And you don’t need the latest streaming service.
I think pets are totally worth it, but you need to make sure you can afford it and give the animal a decent life + treatment. Make sure you can take care of them throughout their lives...you should also be ok with cleaning after them. I will have a dog once I have my own place and I know I can keep company to the dog...
Pets are a financially (and physically/emotionally/temporally) costly choice, and if you're okay with that commitment, they give fantastic happiness returns. But, as with children, you absolutely have to be ready for that commitment. No judgment if they're not for you, but if you did the math and you can crack it, I'd recommend one. For children I think it's a great way to show them life in a microcosm--even if they don't handle the financial aspect of it, it teaches them the physical/emotional/time commitment aspects of caring for something other than themselves.
It’s true that the executives at a company don’t pack lunch, I found that too. But my colleague who makes a high software engineer salary and has a quite profitable side hustle, has a million net worth at 27 packs lunch…
Credit card sign-up point bonuses are a wonderful, well, bonus. We used points to stay at Park Hyatt in both Paris and Manhattan. Wonderful rooms at 1/3 the cost.
Im a powerlifter... i need my gym baby lol but yeah on a serious note, yeah you're absolutely right... i need a garage so i can get that squat rack like you mentioned
I just discovered your channel and find your content very helpful. Thank you for you contribution and added value. I had a laugh at your perspective on not spending on the family pet as it is my perspective on children, ha ha. Why anyone would want to introduce the money-suck of a human child into their home over the love of a dog is beyond me. I would strongly encourage anyone who has re-homed (Thank you for taking the time to do that with yours, not everybody does) a pet due to financial constraint or inability to maintain ownership while fielding other life changes, to not get another pet… even years later. As someone who works in animal shelters and as a clinical therapist who has worked with people who euthanize unwanted pets, (veterinarians and shelter staff) the emotional toll this takes is high. In fact veterinarians have a disproportionately high suicide rate in their profession as compared to other high skill and high training professions. When we no longer want our animals and take them to the shelter, the animals pain is short-lived as they are frequently euthanized quickly… But the long-term toll on the animal handlers can be lifelong and devastating.plants are a fine substitute. The likelihood that pet owners will be multiple time pet dumpers is common, Not because they are bad people, but because it tends to be a misalignment in values where animals and pets are seen a bit more like objects or property as opposed to sentient beings capable of complex emotion, feeling pain, etc. You are 100% right that the financial obligation of maintaining an animal can be huge if you’re really going to give an animal the care and treatment it deserves… Like a child, it is not something to be taken lightly and must absolutely be included in the budget. Thank you again for the value you are adding with your channel. I really have been enjoying it immensely and continue to tune in. You have a very calm on screen demeanor and the advice you give is super solid. Thanks again! PS: Big Sur = my favorite place!
CASH is Always Better than useless gift that I don't even like nor use. It amazes me how so many people gift things without even knowing what I really like or need. Is usually based upon on their taste, not mine. Cash is the Best. I can actually buy the things I really need or love.
A great of things you can save on! You should also consider buying used tech like phones, laptops and tv. Usually you can buy them barelly used in mint condition with a 30-50% discount just half of the year after their release, when hype goes down and everyone is waiting for the next model. The same applies to cars, at least it did before the Covid times
Great advice for young people, especially cutting back on alcohol and dining out. It’s crazy how often I see young folks spending hundreds of dollars per week on those two items. Although a dog who gives you unconditional love is priceless and I would have no qualms spending my money on a pet. :)
Pack of smokes and 1 energy drink cost $11.40 every day. That was in East kentucky, very poor rural part of the country. Quitting smoking, drinking, and energy drinks saved me well over $300 a month.
It's all about our priorities in life. I agree with most of it apart from the gym memberships & pets. I have been paying (and going) to a proper gym since 2009 and it is a great healthy investment in my opinion, since I couldn't exercise the same way at home or outside (heavy weight lift training). I don't' own a pet at the moment due to landlord issues but as soon as I can I would love to be able to adopt a cat again.
Giving up your dog doesn't bold well for the asian community. You set your people back a notch there. Your gift thing I'm 100% in agreement. My wife and I just simply don't buy anything for each other for birthday, christmas etc. We just buy what we want. We sort of did gifts for mother and fathers day, but this year I didn't get anything and I assume she won't either. If she does then I guess I'll be obligated to do it next year, however, odds are in my favor.
Never said anything about power lifting like a gym rat. You can play sports, swim, run, walk… it’s an investment to personal health. I never cheap out on the quality of food I eat and exercise. Health always come first, you can always invest and save money.
Heavy squats and deadlifts are not at all necessary as you get older. I'd guess the vast majority of people with gym memberships aren't even doing those exercises.
If you plan on going to the gym for the rest of your life, you might as well invest thousands of dollars into home gym equipment (assuming you have the money and place for it)
I LOVE pets. Since I was 24 I made my mantra to never buy pet, I rescue them fron the street at my mom's House 3 was the Max. I have 2 children now and a small dog but I'm seriously goong to have a pet break for a couple of years after my little dog life cycle ends, I could never give away a pet they become a part of the family.
About spending money on is really important for me, I spend my money with pets, and mounthly I donate money to a pet shelter. It makes me fell much rich, because, if I can donate means that I have much more than need.
First of all, a pet is not a thing, let's just start there. I agree that pet care can be expensive and people should know that prior to getting one. If you don't own a pet because you don't have enough financial resources or isn't able to care for them mentally/physically that's understandable and quite responsible actually. But just to save money? They are living beings for god's sake, they can feel hungry, cold and alone (yes, a pet needs company and can feel hurt when switching families). Now imagine if everyone did this. I own 3 cats, one was a pregnant stray and the other two her babies, thankfully I'm able to provide them a proper home, of course they take up a considerable amount of my budget, and when they get old I know how expensive medical care can get, but I have a commitment to them. People should take having pets more seriously.
Mate, successful corporate professionals just splurge on the ingredients to meal prep. Instead of PB&J, it can be natural PB with organic J on whole wheat bread.
its good to mention the expense of a pet so people can be realistic as to the cost of taking care of one. This is my issue; Its one thing to not want a pet or not get one because you can't afford it, but I don't think you should get rid of it as a way to save money. Pets have feelings and they are part of the family.
Agree with eating out and taking lunch to work. But we don’t have kids and don’t intend to. We have 1 dog and he’s our child, he is much cheaper than a child will ever be. Also, I use my gym 4-5x per week and it works for me. I pay $189 per month for F45 so I know I have to make it worth while due to the cost.
Yeah, I agree. I also pay a lot for CrossFit, and I feel like I'm wasting it's not that self-motivated and the fact that I pay so much is what actually forces me to go. It also easily fits into my budget. I save 75% of my income, so spending 200 bucks a month on the gym really doesn't affect my finances at all
If you like the idea of gifts but want to avoid wasting money a good idea is to have a shared Google document with things that you want. My wife and I do this and then we just order the products off the list when we want to give a gift.
Two years ago, both of my wife’s cats died two months apart. It was a complete shock and heart breaking. Sure, they were both 13 but cats can live a long time! Anyway, the next day we decided to hold off on pets for a few years. But as each day passed the quieter the home became and we were both sad. It was not fun. So, after two weeks of having no pets we both decided that was not a good option for us and we went to the humane society and adopted a cat and a year later we brought home a rescue kitten. Our family is now complete. We have no children so our fur babies are our kids. We recognize the expense of owning pets but the financial sacrifice is worth the comfort a fur companion can bring. In conclusion, I have no quarrels with the viewpoint this video shared on pets. He is right. No pets saves money BUT it also robs us from the comfort an animal can bring. IMO.
Ok did I get this right. These sign on bonuses will give you a flight worth hundreds of dollars for free if you just spend $3000 with a card and never use them again?
Yes. Normally the minimum spend (different for every card) has to be done within a certain time period after opening the card. The bonus is a set number of points that can be converted to a transfer partner's loyalty points and then redeemed for the company's product (flight or hotel). Just make sure you pay off your balance in full every month to avoid interest and are cognizant of annual fees.
I love dogs, but they are truly a money pit. Adopt a cat instead. Our neighbor died and his cat adopted us for a couple years until she died. Now we just have outdoor goldfish @ 29 cents each :)
I disagree on clothes, specifically for shoes. You’re better off buying USD 700 shoes that will last you 10 years vs USD 150 shoes that will last you 1 year… (work leather shoes). I think that money is really well spent this way and people fall into the trap of small amount repeated numbers of times that add up without them really realizing va a one-off pricier buy…
I dont entirely agree. The way I see it is this - if you buy an expensive product and it lasts, you get your money's worth. If you buy a cheap product that doesn't last, you get your money's worth. But an expensive product that doesn't end up lasting - you end at a loss. A cheap product that ends up lasting - you end at a gain. The downside risk is generally greater with an expensive product.
Owning a pet is like taking care of a toddler for 5x as long. I don't understand why you would lock yourself up like that. The last ten years it feels like more and more people go nuts with their pets. Ive lost count on how many I've met that behave like the pet is their child. It's not and it's not comparable. I've unfortunately also met a couple that prioritize their dog over their own children. One of them went on a trip to visit dog shows instead of visiting and supporting her son when he was checked into the psychiatric clinic for a mental breakdown.
@@d_all_in Right, the $300 a month data is probably skewed from upcharged drinks. You could buy 400+ beers from a gas station for $300 in a month, or purchase around 30 cocktails for $300 at bars/restaurants.
I dislike the fact that you put pets on your list, yes, people should be aware it comes with a cost and they should be sure they are willing to take responsability BEFORE they do it. But they are by no means something you can subsequently "cut out of your life" to save money. They are not meals out, fashion or expendable objects, they are sentient beings that love you, trust you and are fully dependent on you.
Why stop at 7? Kids are an expense. Why have those? Your list might be sensible to you but to me some things are foolish. The experiences and lessons learned from having my children take care of a pet is invaluable. Overall the list is very subjective
Number 2 is only a proper save for anyone who's lazy and lacks discipline or simply doesn't care about obtaining the best physique possible. If you don't care about going to the gym, then it's a win and only in that regard. "Studys show.... that 18%..." Is not at all a proper justification to stop going to the gym. All it shows is that only 18% of gym goers put in actual effort to invest in the most important thing you can invest in, your health. Yeah, not everyone cares about having a godly physique, but the vast majority of home gym setups are not sufficient enough to maximize on achieving impeccable results.
When it comes to my pets, they bring alot of people joy and bring out the best in them. They taught me lessons that are priceless and I wont exchange that for monetary wealth.
