10 Things I Stopped Buying to Improve My Finances

📚Books are a valuable investment in personal growth and knowledge. Instead of buying all books, I keep my favorite ones and borrow others from the library.

🚗Buying a brand new car is a waste of money due to rapid depreciation. It's better to invest in assets that generate cash flow and buy a new car later if needed.

✈️Souvenirs are a waste of money and clutter up living space. Instead, I write in a journal or keep an online one to capture memories of my trips.

📱Upgrading to the latest technology doesn't always bring happiness. I consider if the additional cost is worth the minimal increase in satisfaction.

💸Sales can trick us into buying things we don't need. I evaluate if the item was already on my shopping list or if it's an impulse purchase.

Why did you stop buying books?

—I believe in the value of books, but to save money and space, I now keep my favorite books and borrow others from the library.

Why shouldn't I buy a brand new car?

—Brand new cars depreciate rapidly, losing a significant portion of their value within the first few years. It's better to invest that money and buy a new car later if needed.

Why are souvenirs a waste of money?

—Souvenirs not only cost money but also take up space in your home. Instead, capture memories in a journal or online platform.

Should I always upgrade to the latest technology?

—No, upgrading to the latest technology doesn't always bring significant benefits. Consider if the cost is worth the minimal increase in satisfaction before making a decision.

What's the problem with buying items on sale?

—Buying items on sale can make us justify purchases we wouldn't have made otherwise. Evaluate if the item was already on your list or if it's an impulse purchase.

00:00Introduction and overview of the 10 things I stopped buying to improve my finances.

00:23Books are a valuable investment, but I now borrow from the library to save money and space.

01:02Brand new cars depreciate quickly, so I prioritize investing in assets and buying a new car later if needed.

01:29Souvenirs are a waste of money and space, so I capture memories in a journal or online platform.

02:17Upgrading to the latest technology doesn't always bring significant benefits, so I consider the cost before buying.

02:55Buying items on sale can lead to unnecessary purchases. Evaluate if the item was on your list or an impulse buy.

03:34Investing in things I don't understand is risky. I prioritize understanding and educating myself before investing.

04:02Fast fashion is often low-quality and wasteful. I now prioritize quality over quantity and invest in longer-lasting clothing.

04:56High maintenance expenses, such as nails, lashes, and hair, are costly and time-consuming. I prioritize my time and financial freedom.

05:33Prenups are unnecessary Christmas gifts. I focus on more meaningful ways to give back during the holiday season.

06:23Summary and conclusion of the 10 things I stopped buying to improve my finances.