12 Things Frugal People REFUSE to Buy

Instead of talking about physical possessions frugal people don't buy, let's talk about figurative ideas frugal people don't buy.



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Chapters

00:00 Start Here
00:38 Internal Problems Can Be Solved By External Possessions
01:38 It’s Okay to Live Large If You Have The Means
02:43 Money is Complicated
03:33 Debt is Unavoidable
04:17 You Need a High Income to be Financially Comfortable
05:07 Men in Suits Have More Control Over Your Personal Finances Than You Do
06:12 Being Uncomfortable is a Bad Thing
07:08 Saving Money Means Saving Money
07:50 Credit Scores Measure Financial Well Being
08:40 It’s Okay to Make Payments on Depreciating Assets
09:33 What Kind of Car You Drive Matters
10:22 Paper Towels


In this video, I talk about 12 figurative things, or ideas, that frugal people don't buy.

1. Internal Problems Can Be Solved By External Possessions

As humans we all have problems and society tries to make us think that we can solve our internal problems by buying external possessions. This, however, does not work and frugal people search for other way to solve their problems.

2. It’s Okay to Live Large If You Have The Means

Many people think that being frugal is about living a simple life because you don't have the money to afford live large; however, frugality is also about living a sustainable life for the planet. Just because you have to money to live a life of abundance doesn't mean you should because there are many environmental harms that come from consumerism.

3. Money is Complicated

Many people avoid the topic of personal finance because they believe that money is complicated due to society over complicating it. Frugal people, however, don't over complicate money and simply spend less than they earn and save and invest the difference.

4. Debt is Unavoidable

Many people think that in order to live a good life, you must take on debt. Frugal people, however, understand that debt can be avoided simply by saving up for something or making sacrifices to cut their spending in another area.

5. You Need a High Income to be Financially Comfortable

Many people believe that their financial well being is determined by their income and that they need a high income to be financially comfortable, but the truth is your your financial well being is determined more so by your spending and if you keep your expenses low, you can be financially comfortable on an average income.

6. Men in Suits Have More Control Over Your Personal Finances Than You Do

Many people never make any progress financially because they think that their personal financial situation is controlled by politicians; however, you have much more control over your personal finances than you think you do as long as you take steps to get in a better situation.

7. Being Uncomfortable is a Bad Thing

Society tells us that being uncomfortable is a bad thing and we should spend a lot of money to avoid comfort at all costs; however, being uncomfortable is vital to enjoying comfort. Frugal people understand that it's important to embrace discomfort in order to appreciate comfort.

8. Saving Money Means Saving Money

Many people think they are saving money when they are seeking deals, clipping coupons, and seeking sales; however, that is not saving money, but it is marketing strategies to get you to spend more money. Saving money is really spending less.

9. Credit Scores Measure Financial Well Being

People often think that credit scores measure their financial well being and the higher their credit score, the better off they are financially; however, credit scores simply tell lenders how likely you are to pay off debt. Real indicators of financial well being are being debt free, having an emergency fund, and having assets.

10. It’s Okay to Make Payments on Depreciating Assets

In society, there is this common belief that it is okay to making payments on assets that lose value, like a car. Frugal people do not make payments on depreciating assets and seek to own things outright.

11. What Kind of Car You Drive Matters

Cars are often seen as status symbols that show the world who we are. Frugal people, simply use cars to get them from point a to point b and don't care what type of car they drive.

12. Paper Towels

Finally, no "do not buy" video is complete without talking about paper towels! Frugal people do not buy paper towels...I mean what's the point of them?!

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