Many financial struggles stem from poor money management rather than a lack of funds. By eliminating 12 specific, non-essential expenditures, individuals can significantly improve their financial health, discipline, and overall well-being.
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Guys, a lot of people don't really have
a money problem. A lot of people simply
have a management problem. So, I'm going
to give you 12 things you need to cut
out that are no longer worth your money
that's going to help you manage your
money better and stop buying the wrong
things. Now, let's start with the big
ones. Number one is brand new cars and
car payments. Look, brand new cars and
car payments are one of the fastest ways
to slow down your financial progress.
Stop having car payments. It's possible.
Trust me. Cars lose value the moment you
drive them off the lot. And guess what?
After that, they keep losing value. Now,
when you add a monthly payment on top of
that depreciation, you're basically
locking yourself into years of reduced
flexibility due to the fact that you
have car payments. Look, I've bought
cars cash for years. And listen, it
works. Not because I'm special, but
because this one decision to not have a
car payment frees up $400 or $500 or
more per month in cash that I can do
other stuff with. It also reduces my
stress and gives me options, right? A
car is transportation. Transportation
can be good. But it's all about getting
from point A to point B. Period. New
cars and car payments, that's not a
wealth-b buildinging strategy. Now, the
second thing to cut out that's not worth
your money is annual tech upgrades. Your
phones and your devices that still work,
right? Listen, if you got a phone that
still works, you don't need a new one. I
don't care what AT&T and Verizon tell
you. You don't need an upgrade, another
camera that's better. Look, cameras on
phones from 5 years ago still work
really, really good. You don't need a
slightly faster chip. Like, you only
need so many upgrades and gadgets on
your phone. You don't need a new case
because the color changed and you're in
a different mood this year. Listen, if
your device does what you needed to do,
upgrading it is optional and it's
expensive, but it ain't required. Okay?
This one hits almost every one of us
because we all have phones and it
quietly keeps people broke when you're
constantly upgrading this phone. If it
works, takes good pictures, you can talk
on it, you can browse the internet,
that's it. Whether it's 2 years old or
whether it's brand new, if it's doing
what you needed to do, keep it. Don't
upgrade. Now, number three is credit
card interest. Credit card interest is
money, guys, that you will never get
back ever. It gives you no return. It's
like throwing money out the window cuz
you couldn't wait to pay for something
with cash or with a debit card. You had
this impulse and guess what? Now you got
interest payments if you don't pay it
off. Right now, I haven't used a credit
card in 13 years. And that decision
alone has removed a lot of stress out of
my life. And guess what? In the process,
I built a million-doll net worth, not
with credit cards. I didn't need them.
See, interest compounds daily on those
cards. And it compounds against you, not
in your favor. Even when you stop
spending, the balance on your credit
cards keep growing. Look, I know there's
points and rewards and all that stuff,
but that stuff don't matter when you're
paying interest. You're just pretty much
giving money away at that point. Now,
number four is food delivery apps. Now,
this is not worth the money, guys. Look,
if you're bedridden, if you're sick, if
you're injured, I get it. It's all good,
right? Have that food delivered because
you can't make it out there and get your
own food. I got it. But for real, food
delivery is one of the most normalized
money wasters going today, right? A
simple meal turns into double the price
because you got the tip, you got the
fees, you got the markups. Listen, if
you're ablebodied and you're mobile,
paying somebody else to bring you food
regularly is convenience, you're
overpaying for it's it's really sort of
lazy. Matter of fact, let me know in the
comments below if you agree or disagree.
Is it lazy to have food delivered
constantly when you can go get it
yourself or not? I want to know what you
think. Listen, once in a while it's
cool, but frequently it just adds up
fast and it's really a waste of money.
Now, the fifth thing not worth your
money anymore are these impulse Amazon
purchases. You know, where you can sit
on the couch and spend $1,000 by making
two clicks. This is how money disappears
quietly every single month. For a lot of
people, a few small purchases, they
don't feel like much. No big deal,
right? Until you look back at the month.
See, most of these Amazon impulse buys,
they're really solving boredom. Okay?
They don't really solve your problems,
right? Matter of fact, sometimes they
lead to more problems because this thing
can be an addiction. A lot of stuff you
buy ends up unused, sitting in a box or
sitting in the corner somewhere after
the rush of getting it goes away. If you
want control over your money, you have
to first take control over you and your
spending and these impulse buys. Slow
down the impulse spending. Amazon is
honestly an addiction for a lot of
people. Let's be real with it. and it's
an addiction that you don't want to
have. Right now, the sixth thing is
simply subscriptions and these apps and
things that you don't use. Now, this one
is simple, okay? If you're not using it,
cancel it. If it's sitting in your app
or on your phone and you haven't touched
it in a while, you shouldn't still be
paying for it, right? I'm talking
streaming services, all the apps, right?
Memberships, all these things. Get rid
of them if you're not using them. You
don't need them anymore. Listen, quick
note here, guys. If you're working on
getting out of debt, I have a free debt
snowball worksheet that's going to be
linked in the description box below. No
fluff, just a simple practical tool with
instructions on it, and it's free. The
purpose is to help you build momentum
and get out of some of this bad debt
that we talk about quite often on this
channel. So, get your free copy down
below. Now, let's go to number seven.
The seventh thing that is no longer
worth your money is simply trendy home
workout equipment that you don't use.
Look, we've all been victim to this. You
don't need expensive equipment to get in
shape. Look, you can do push-ups. You
can stand up right where you are and do
squats. You can jump on the ground and
do some planks, do some crunches. You
can even do some burpees, you know,
where you jump down and jump back up.
You can walk, you can run, you can jog.
Look, you can do all that right there
where you are. All that stuff is free.
If you've got equipment sitting in the
corner collecting dust, guys, that's
money already spent, right? How many of
you out there got st got a stationary
bike that's been sitting over there
collecting dust and you've been hanging
clothes on it for about 20 years? Or an
ab machine or, you know, something
that's just sitting there that you
ordered that hasn't been used, right? It
happens. Been there, done that. But
look, fitness is not really about
gadgets, okay? It's really about
consistency and doing what you can and
using what you got without going out and
getting the latest elliptical that you
saw on the infomercial. Now, number nine
is cable TV. Hey, I recently got rid of
cable TV and I got streaming services.
Instead of paying $200 a month for
cable, I pay about half that now for
streaming services. Look, cable is old.
You don't need it. In fact, I think you
get more channels and more variety
without cable TV. For real, cable is
expensive. It's outdated and it's truly
unnecessary at this point. Most people,
let's be real, most people watch a
handful of channels and pay for another
150 channels or 200 channels, right?
Streaming is cheaper. In my opinion, in
the last 6 months since I've got rid of
cable, streaming is actually simpler and
it's really more flexible. Look, cable
TV is sort of like insurance, right?
It's one of those bills that a lot of
people tend to forget about and they
forget to ask questions about it for
years and years and years. Have you ever
wondered why you don't see a lot of
cable TV commercials? Part of that is
because a lot of times they don't want
to educate you on the fact that there's
better, cheaper alternatives out there
than their cable. The cable providers
are not trying to wake you up so you can
leave them. So, they're just happy
letting you pay the $250 a month when
you could have been paying around $75 a
month. That's real. Now, the ninth thing
that is not worth your money anymore is
overly priced coaching.
The weekend boot camps, you know, the
expensive, overpriced masterminds that
you see advertised to you all day long
on social media. Totally not worth it.
Listen, most of what you need, most of
what you need to be successful is in
you. It's at the library. It's free on
YouTube or it's in a $30 book on Amazon.
Not all, but a lot of what you need to
be successful. You don't really need
$20,000 coaching. You don't really need
$50,000 weekend masterminds. YouTube
again is free. Books are cheap.
information today nowadays is
everywhere. What's missing is simply
execution. So, stop paying for the
$20,000 motivation. You don't need it.
Before spending big money trying to
level up, ask yourself this question.
Have I actually applied what I already
know? Try that, right? You'd be
surprised. You already know a whole lot.
Now, listen. I know I'm going to get
push back here at number 10, but I'm
going to say it anyway. Number 10 is
expensive self-care. Now, hear me out on
this one. Don't beat me up. Look,
self-care shouldn't require you to go in
debt to get it right. Some of the best
self-care on the planet, guys, is free
and outside. I know you got the $90 to
get your nails done, the $50 to get the
haircut and the fade every two weeks,
right? To feel good about yourself,
right? I get it. Look, luxury vacations
on credit. I know taking care of
yourself matters. I'm not saying it
doesn't, right? It does matter. I
believe that. But when it becomes a
lifestyle where you truly believe that
you have to spend a lot of money to feel
good, when you can't afford it, all that
does is create pressure instead of
peace. You can read. It don't cost a lot
of money to read. It don't cost a lot of
money to walk outside in nature. It
don't cost a whole lot of money to build
a garden, to dance, to draw, to paint,
to cook or bake, right? to pray, to
meditate, to journal, to write, talk to
friends, unplug from social media. You
need to find cheap ways to self-care.
The expensive self-care stuff, that's no
longer worth your money in my opinion.
Now, the 11th thing that is no longer
worth your money is designer clothes for
either growing kids or fluctuating adult
bodies. We weigh 150 lbs in December,
but then come March, we might weigh 180
lbs, right? So, when we're fluctuating
like that, you definitely don't need to
have designer clothes. Look, kids grow
fast, too. And our bodies change.
Spending big time money on clothes that
may not fit us just doesn't make sense
to me. There's nothing at all wrong with
looking good, looking presentable. But
looking good and looking presentable
does not require name brands. And if you
need the Louis Vuitton purse or you need
the $250 pair of sneakers to feel good
about yourself, you may have issues that
money can't solve. Now, finally, number
12. The 12th thing no longer worth your
money is status spending to impress
people who are not paying your bills.
Right? This one ties pretty much
everything we talked about together. If
you find yourself spending money on that
new car or those new clothes or that
vacation just to impress other people,
that's a problem. If the goal is to
impress people who aren't contributing
anything to your well-being or your
future, the cost is too high. Right?
Wealth is quiet. Real wealth is quiet.
stability in life, strong financial
foundation, that's quiet. Peace is
quiet. Anything that is messing with
your wealth, your financial foundation,
or your peace, it's just not worth it.
So, hey, that's the 12 things that are
no longer worth your money. Stop buying
these things and you'll see an
improvement in your money. But not just
your money. You'll also see an
improvement in your discipline, in your
self-control, and in how you manage your
money and your mindset. Because money is
just really, guys, an outcome of your
spending. Money is just an outcome of
your actual behavior with money. When
you get you right first, your money is
going to follow. Now, if you want
clarity instead of noise, that's exactly
why I wrote this book, Manage Your Way
to Millions. It's all about building a
system that works no matter what the
economy is doing with our money. And
everything I teach, guys, the framework,
the tools, the long-term strategy, it's
all over at smartmoneybro.com.
Guys, do me a favor and share this video
with your network of good people. And
smash that like button below and drop me
a comment. I want to hear your thoughts.
And check out this video right here
where I talk about the nine things that
you should absolutely upgrade once your
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