Today I’m talking about 7 things which are a complete waste of money in 2025, and are worth skipping out on or cutting out this year. Let me know what are money wasters you can think of in the comments!
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Chapters:
00:00 Intro
00:38 Fast food
02:17 Coffee habit
04:56 Subscriptions
07:50 Fast fashion
10:16 Tech upgrades
12:18 Cars
13:52 Warranties
15:02 Final Thoughts
15:27 Patreon
source
I rotate through the subscription services depending on what season it is. The only one I keep consistently is Frndly tv. Get Sling during college football season and a separate news channel.
One of the advantages when I had a job requiring me to work from home instead of commuting to work was I wasn't tempted to leave my home to buy lunches or coffee somewhere. Those savings really added up and while working from home, I saved a lot of money not needing to pay for transportation every single day (bus rides and GO train rides back and forth into Toronto for work).
I tend to buy last years version for my tech or the renewed versions because I get a phone every 4th year or so. My Apple iMacs I will buy new because I keep and use them for 10 or more years. My truck is 12 years old and has less than 100,000 miles on it still but being a Toyota it’s not even broken in yet.
13:54 I never pay for extended warranties either because they're such a scam in many cases.
Heck, I knew a girl in college who wasn't a particularly bright bulb and she bought a solar-powered calculator from BestBuy or Future Shop and paid for an extended warranty. Was the sun no longer going to exist in 2 years or 5 years from the date of purchasing her SOLAR-POWERED calculator? Are calculators prone to not working if one takes care of them? No. Hahaha! Even she admitted that she had been pretty gullible and wasteful that day. 🙂
My 2019 Samsung phone that I bought in new in 2020 is still going strong. No plans to place it anytime soon!
I was in need of a new pair of pants recently and decided to check the local thrift shop. I have a basic knowledge of how to sew, and have been looking for more reasons to use my sewing machine, so I fully intended on buying a larger pair and taking them in to fit. For only 2 bucks, I walked out with a good pair of jeans, that are a perfect fit. I'm still getting used to them, having only worn cargo pants for the last decade. But the cargo pants nowadays are made with some less than ideal fabric, which is not as durable as denim. I keep going in there and looking, and I plan on replacing all of my cargos and going back to jeans. Still reach for that cargo pocket out of reflex, though.
The only warranty I’ve ever/will ever purchase is on my glasses. I’ve had kids snap them and had them break during workouts. Walmart replaces them completely for free if you have that warranty, and it’s a 10% cost at time of purchase.
Considering my glasses are usually $100-200, it’s not that big a cost for something I will be glad I got.
Nice video Spencer – great reminders. Love watching the channel grow. Cheers, Ian
Especially with the post-Covid expectation of tipping everywhere, I can't get a local cappuccino under $5.55 out of the door anywhere. That's close to $120 a month on coffee during a work week. Expenses like that add up. Just make your coffee at home for under a buck a cup.
I just cut out satellite radio. It's only been going up and what you're paying for doesn't quite match other music services. They really try to guilt you into staying and you can't cancel subscriptions without talking to a person (or A.I. if you don't get on the phone). I didn't have to talk to anyone to opt in to their service.
Love the video 🎉
I would say just make coffee at home
Windows 10 reaches its end of life in September and a lot of people won't have computers capable of upgrading to Windows 11.
Before they feel the pressure to buy a new computer I suggest they try out a user friendly version of Linux – I have an old laptop from 2016 running Linux Mint and it works very nicely for a new user.
This is a great video. Those are great suggestions.
So true. I have a doordash fastfood and Cheesecake Factory addiction. I'm also addicted to buying vintage items like vintage synthesizers which is a costly hobby. Although I would suggest not buying cheap phone cases that don't have a strong protective lip covering the screen, as we want to keep our phones life as long as possible.
If I look at my history of money wasting, I'd say my biggest regrets (ie. lessons) are the following:
– Cars – like all cars. I grew up in suburbia and bought a car as soon as I turned 18 and started university, because I thought I needed it to go anywhere. Even in suburban Calgary, I could've taken transit to school and work without too much issue and saved absolutely painful amounts of money when I still lived with my parents. Now I live in Toronto, where being carless is easy. I'd like a car again one day, but I'm enjoying my transportation budget being orders of magnitude smaller these days.
– Unnecessary tech up/sidegrades. I got stuck in a cycle of trying to "optimize" all the gear I had – I kept buying and selling laptops, desktop computers, cameras, lenses, etc., only to realize I'd wasted thousands just trying to find some happy middle-ground solution in all my devices that doesn't exist. I realized I should just accept that nothing is perfect, or will stay perfect forever, and clearly defined how long to expect a given tech purchase to last, and what deficiencies would truly warrant upgrading.
Happy new year, Spence!
I love buying used things. You save so much money getting something that’s just as good as the latest and greatest. I recently bought a used ereader and saved about 50 bucks compared to the newer model. I haven’t bought a new phone in years or a new car ever.
Also as a side note, anyone who doesn’t brew their own coffee at home is missing out on the best part: the smell of brewing coffee. My wife, who doesn’t enjoy drinking coffee at all, even enjoys that part of me brewing my own cup every day.
Pretty much cover all 7 of these tips except the fashion, I’m a card carrying member of the following. t-shirts, cargo pants, boots with side zippers, and the bigy the SUV (older) it’s a camper, hotel, moving truck, people carrier, and maybe some other things I haven’t thought off.🏴🇨🇦
Over the past 2 years, I have been practicing mindful consumerism. Before my husband and I moved across the country in 2023, I had the pleasure/ burden of decluttering 98% of our stuff. Ever since then, I have been more mindful of what I know I will use vs. what will collect dust on a shelf. As a birthday gift this year, I asked my husband for $20 so I could go to thrift stores and local libraries to purchase used books vs. paying full price at the store.
A: "Do you want to get the extended warranty?"
B: "Why should I?""
A: "If the device or the battery breaks within the next three years you get a free replacement."
B: "If those things are remotely as likely as the percentage extra cost of the extended warranty, I'm buying really bad quality right now and shouldn't buy the thing at all."
Fast food is the best. Del Taco is <$10 per meal. It's my cheap addition.
Misconception is saying if a tshirt costs 5 dollars, somebody is getting screwed.
It’s the same with a 40 dollar shirt: somebody + you are getting screwed because someone takes an insane markup 8:41
The problem is you're buying from apple
My brother Spencer. God bless you!
I recommend getting a radio. Classic short wave radio. It is so much fun and reminds me of your TV/VHS setup! It is free, no subscription, no internet plan needed! Curated topics/music. I have so much fun listening to channels all over the world. ANd:
You give your eyes a rest because there is no screen!
As someone with ADHD who struggles with consistent food planning (which is why I end up going for fast food), I’ve found that there are some ways to work around that. The reason (for me) I ended up not making food was because I was so overwhelmed and stressed from work that I couldn’t find the energy or motivation to make something.
Easy workaround! For the days where this happens (because it’s going to), have easy/low to no effort foods ready that are also healthy. Things like cheese with crackers, precut veggies, etc. A lot of grocery stores have whole baked chickens you can get. Personally, grapes have been a fruit lifesaver because they’re incredibly low effort, I like them, and they’re healthy.
It’s made a huge difference to use this strategy both for health and for budgeting purposes. And it’s easy to tailor this to whichever foods work for you too. Don’t like grapes but still need fruit? It’s okay to go buy the precut fruit (like watermelon and cantaloupe). Need to be dairy free but want to dip veggies in something? Hummus is a great option.
I love my Porsche.
I used to go to coffee shops ALL the time, several times a week minimum. I bought an espresso machine and I rarely go to coffee shops now! It’s saved us so much $ and it’s definitely paid for itself 🙂
6:45 workout tip for not going to a gym, go outside.
Driveway, lawn, park, etc.
Doing it in your house is a recipe for long term failure for most people. Plus being seen by randoms is weirdly motivational past the first couple experiences, it might not make you feel better in the moment but it will keep you locked in
14:33 make a warranty savings account with the best APY you can get
every time you get offered a warranty, say no, take note of the price, deposit that much into the warranty account.
Use the warranty savings account as your personally backed "warranty" to your uninsured items and also a secondary use as a backup emergency fund
I agree, I cut my gym membership years ago. I love working out at home in the mornings and it is way more convenient. You can do a lot of exercises using your own body weight and doing 15-20mins of jumping jacks is a great cardio workout. ( no equipment required )
For phone cases, thrift stores, ebay, mercari and no buy groups may also have a case you are looking for at a fraction of the cost. Got an new Otterbox for $15 on mercari
Agree agree agree. What I will say though is I think Apple Refurbished is definitely a good deal. I’d be hesitant to go for cheaper options on refurbished devices via third parties, just because Apple makes repairing their devices so hard. I can’t see an iPhone at 40% off going through the same level of refurbishment checks as one from Apple at 20% off the full price. I’m a very happy buyer of Apple refurbished for years and they are just like new devices. I’d argue one would get more years out of an iPhone refurbished by Apple at 20% off than one refurbished by another company at 40% off, so in the long run the Apple refurbished one will be better value.
I spend so much money on lattes almost everyday n every time I buy them, it hurts my heart a little bcs I feel very guilty doing it
Wtf, why this vid feels ai generated 😢
I once bought a two-year warranty for a product from a retailer, not realizing that the product already included a two-year warranty from the manufacturer. I'll never make that mistake again.
Things you mentioned mostly. During summer I cut off all my subscriptions and I decided I will renew some of them if I still feel that I want some of them. I didn't renew any of them. Big thing for me was instead of coffee I was always drinking energy drinks. Trying to cut that down and use energy drink powder instead.
cafe visit hack – buy your beans/ground coffee from your favorite cafe. only treat yourself to a coffee/snack from the cafe when you're re-upping your coffee for home. The baristas at my favorite cafe still know my name, but I'm not in there every day anymore