I Stopped Buying These 6 Things, and I’m Happier For it
“Think about the person you were a year ago”
If I’d moved into my own place after college, I’d be in big trouble.
My spending habits were so atrocious that my parents practically begged me to come to live at home until I got a real, full-time gig.
I finally moved out four years later, but not until I deeply studied my spending habits. I learned when cutting out certain items; there’s more to gain than just more money in your wallet.
I don’t miss these six things at all.
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Weekday beers
I love a Nooner after a hard day at the ‘ol 9–5, just like anyone else.
The problem is the empty calories that come from drinking alcohol. I’d rather fill my stomach with food that gives me an abundance of energy.
Alcohol is an expense I like to save for special occasions, like when I went tubing with my girlfriend and friends recently. It was my first time, and it was a blast. We drank seltzers and meandered down a river for two hours.
That was a worthwhile time to have a couple of drinks. I also had the entire evening to drink water and get my nutrients in before work the next day.
Now that I drink less, I feel better in the mornings. Non-hungover mornings create an environment for more productive and focused days.
Instead of drinking on school nights, I spend the extra dollar and drink flavored sparkling water. It doesn’t take the edge off, but it’s a reminder that you can still have things you like after a shift.
Stocks based on hype
A few years ago, my friends and I were smoking cigars on a porch and started talking about stocks and crypto.
We invested in all sorts of small-cap stocks that, at the time, were doing really well as the markets recovered from the Covid crash. I didn’t sell a thing, and now my portfolio is recovering in the ER.
Instead of selling the bad stocks at their peaks, I assumed they would keep going up. But what goes up must come down.
I fell prey to stock gurus on the internet and my own stubbornness.
As a 20-something-year-old, this is one money mistake I don’t want you to make. In the end, if you invest in good companies, especially ones you believe in, it’s best to hold your positions until they eventually recover.
If they truly are good companies, they will.
Starbucks coffee
Before I break your heart, I still go to coffee shops, just not often.
The difference is I frequent these shops every once in and while rather than every morning. And even though I work a remote job, I never work out of a cafe unless I’m in an airport.
When talking about buying marked-up lattes, Tim Denning said this:
“Sure, don’t be stupid with money. But practically speaking you’ve got to be able to enjoy life and buy treats here and there.”
If you feel like treating yourself, hell yeah, pay the price of the latte and enjoy every creamy sip of it. I’m willing to pay $5 for a nitro cold brew if it gives me a few hours of hyperfocused energy for a Sunday editing session.
Sports Betting Apps
I live in a state that allows online betting.
I admit it’s a fun time (when you win). The problem is, it’s addicting, and you fall into the trap of thinking you should win. But that’s how gambling works.
The house always wins.
I’ve learned not to gamble with my money. I’d instead take risks with my time and bet on myself that I’ll make my dreams come true.
Protein shakes at Whole Foods
The nutty buddy shake is my kryptonite.
It’s a treat that saved my life when I went to Coachella. The thing is, I can make a shake that tastes better and is far cheaper than the $8 version
Like the coffee example, marked-up food items are all over the place.
Instead of giving into your desires, think like this:
If you want something to eat or drink, take the time to make it yourself. You’ll save yourself time and money. And the more money you save, the more time you have.
Food I can’t freeze or leave in the pantry for months
I’ve spent ten months learning to shop for myself, and now I have a system.
I’m a natural superstar at wasting food, and I’ve thrown away more rotten food than I’d like to admit.
Since I like eating healthy, I’m prone to buying all sorts of fruits and veggies. The problem is that veggies spoil after a few days, and the longer I leave them in my fridge, the worse they get.
Now, I buy salad packs and force myself to eat a bowl of salad every day.
It keeps me more satiated and energized, and I save money because I’m not throwing it down in the garbage.
My ultimate purchasing decision
When I think I want something, I wait two weeks to buy it.
Read that again and think how much money you’d save with the same mindset. This mentality has saved me thousands in purchases I didn’t need.
For example, I want a new fixed lens camera because I think it’ll motivate me to shoot photos more often, but I already have two cameras.
So I asked myself, “Do I actually want this new camera, or am I just too lazy to use the ones I already have?”
When you have a want vs. a need, give yourself two weeks for the idea to marinate. You’ll realize how many things you don’t need to buy anymore.
With this mindset, the things you don’t need will also present themselves.
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