Luxury Tastes But Limited Budget 21 Money Saving Tips
[0:00:00] [Music]
So, apparently drunk shopping is a thing.
We're talking $45 billion yearly that people spend while they're intoxicated.
Apparently, the average drunk shopper spends almost $500 and guess what the number one
category is?
Clothing.
So, my first tip for shopping smart and finding ways to stretch your money, don't shop while
you're under the influence.
In today's video, I'm covering the shop and pitfalls you want to avoid, so you can keep
as much money as possible.
Don't go shopping on your payday weekend.
Seriously, weekends in general are bad.
Why?
When you look at the data, Mondays and Tuesdays people spend the least amount of money at
stores, then on Fridays 40% more than average.
Saturday's everything goes crazy literally double, 100% more people will spend when they
go out shopping on Saturdays.
Now, you may attribute that to normal shopping behavior, but here's the thing.
During payday weekends, you go even crazier.
Add 25% to all those numbers.
My advice on payday, have them automatically deposited and then distribute it to different
savings accounts and pay yourself first.
Yes, put away a certain amount for savings, budget it for different things, then pay your
bills and then whatever is left over if there's anything left over, that's what you spend
on frivolous things.
Now, this one I bet you've never heard and that is stay positive about your old gear.
So you got an older phone and all your friends have the newer phones.
If you're always bashing your phone saying, ah, man, I wish I had the new one, this thing
is so old versus praising the phone.
I know this sounds kind of strange, but this phone never dies on me, the battery still
works well, it actually never crashes.
You're more likely to take care of it and you're more likely to keep it and you're less
likely to go out there and spend money on something that you don't need.
Next up, instead of buying a real Rolex, buy a fake one.
Let's look at the facts.
This watch sells for $10,000 this one sells for $100.
Is this one a hundred times better than this watch?
Now, I admit, this one is a bit of trick point if you’re into watches, you're going to
know that the Rolex Submariner has value.
And I know this seems like it may contradict an earlier point I made about not to buy fakes,
but that was assuming that you really did want a Rolex, so you really didn't want that
high-end watch.
If you really don't care about whatever brand you get, you just like the look of the watch,
then buying a fake is actually perfectly fine.
Let's say you're not going to settle for a fake, you want the real thing, then in that
case make sure to sleep on the watch.
And by that I mean wait to purchase by sleeping on it by waiting a day by maybe waiting a
few days all of a sudden you're going to allow yourself to take emotion out of it and say
is this a logical decision.
Now, I'm laying out some great shopping smart tactics in today's video, but one of the issues
is you've got to remember to actually do these things.
So, wouldn't it be great if there is an app where you could save things and ask to be
notified when they go on sale, when they're back in stock when they have it in your size
in the color you want?
Well, gents, I'm here to tell you that it exists, it's called Shoptagr.
It is your free personal assistant right there on your phone any type of electronic device
where you can shop on the web find what you want, save it, and be notified when it's on
sale, when they have the color, when they have the size you want.
And the best thing is that Shoptagr works with over 300 brands online.
We're talking the biggest online retailers like Nordstrom, eBay, Barney's, and Amazon.
It syncs across all devices from your tablet to your phone to your computer.
Gents, getting started is easy, let me show you.
The first thing you want to do is go download the app.
All you have to then do is go find an item to tag and then tag it using Shoptagr.
Shoptagr takes everything you've tagged keeps it in one location, again, you get notifications
when you want them.
And you can create your own private shopping list.
Maybe you want to build up your work wardrobe, you're building your core wardrobe, you're
interchangeable wardrobe, you can have lists for all this.
Gents, I'm linking to Shoptagr down in the description of today's video.
Go check it out.
It's absolutely free.
It's an amazing tool.
You're going to be able to save money on the clothing you’re buying.
Go grab the app.
Again, I'm linking to it down in the description.
So, my next tip is to buy the best you can afford and take care of it.
This is a $300 pair of shoes.
Most men, they're going to scoff at spending that much money on shoes, instead they're
going to want to go out there and buy a $50 pair of shoes.
And I cut a pair of $50 shoes in half and guess what?
You see really this is complete crap on the inside.
It is going to fall apart within a year.
When you cut open a $300 pair of shoes that have been Blaked-stitched Goodyear-welted,
all of a sudden you see the construction is made to last.
In fact, this sole can be resewed multiple times.
If you take care of it this upper could easily last over 20 years and in 15, 20 years, it's
going to look better than it looks now.
Beware of what the hell.
What I'm talking about here is the phenomenon of when you get a crack in the dam.
You know you didn't expect to spend any money or you had a budget of $50 and you spent $55
and you realize what the hell I might as well spend $100.
There's a big difference between going $5 over your budget and $50 dollars over the
budget.
But it's a human -- this is a phenomenon that happens especially in men, we start to think,
okay, I already bust it, I can now do anything I want.
We do this with our diet we do this whenever we're spending.
Be very careful of this.
[0:05:01] And tied to that last point, beware of being
high dollar stupid.
So, you're looking at a pair of socks.
One is $10 another pair is $12.
What's the $2 difference?
You'll spend five to ten minutes trying to figure this out.
Yet, when you're looking at cars the difference between a $42,000 car and then a $45,000 car
that has some upgrades has the leather seats, all these other things you don't even think
about it, you're like you know what I'm spending the money I'm going to do it.
That's $3,000 you're not even thinking about, so we become high-dollar stupid.
Be very careful of this.
Next up, photograph your receipts.
Oh, yeah, smile for the camera.
No, I'm not talking about that kind of photographing.
The point is you want to keep your receipts and you want to be tracking this.
There's plenty of apps out there that can actually help you automate this, but by tracking
your expenses, you actually start to identify where you're wasting money or at least where
you're spending money so that you can identify how to change that if need be.
Thrift stores, next to new, buying at consignment shops, guys, there's nothing wrong with buying
used clothing especially when it fits you when it looks good.
One of the cool things about going into these type of stores is that all of a sudden you
break free of the fashion trends.
You'll see things on the rack that maybe were made 10, 20 years ago, 30 years ago and it's
all put together and you get to find things that you really like.
Oh, and by the way, you're going to save a lot of money.
Excuse me, sir.
Can I put these shoes on hold?
I'd like to come pick them up tomorrow.
The beauty of putting something on hold isn't that you just get to cool off and not make
an emotional purchase, but also you get to comparison shop.
You get to look around which takes me to my next point going from store to store realizing
that some store are going to draw you in because they got a great sale on shoes, but guess
what?
Their jackets maybe their electronics whatever it may -- maybe their jewelry their watches,
they aren't going to have the best deal on everything.
So, you want to shop around, you want to find the best deal and you realize some stores
are going to bring you in because they're making a great deal here, but they plan to
make it up elsewhere.
If you understand this game and if you're willing to spend the time to go around to
different stores, you can save big money buying items piecemeal in different areas.
And, let's not forget price matching.
These shoes right here selling at one store for $149, at this other store for $129.
Now, you like to shop at this other store you're going to buy other things there, you
might as well ask, you know what?
They're selling for $129 over at the other store, can you give me that deal?
Talk with the manager oftentimes you're going to find that they'll do it.
And, don't forget to have a plan have a list.
Yogi Berra said it best, “If you don't know where you're going, you're going to wind up
somewhere else?”
So, you're going to wander into a sale, you didn't expect to want to purchase that third
pair of shoes which you already have a lot of, but you wandered into a great sale.
No.
Go into a store with a specific purchase a specific item that you want to pick up.
So, if you've got a hard to fit body, you like clothing that fits you well, you know
about the tailor tax.
Here's the way to avoid it.
Learn to do minor alterations by yourself.
Why?
Because if you can do minor alterations like darting in a shirt, adjusting the sleeve length,
hemming your own trousers, all of a sudden you're going to realize this isn't rocket
science.
Because sewing on a button instead of paying five bucks and having to take the time to
take the shirt or the jacket over, you're learning to do this yourself, it makes you
independent, it gives you a skill set which you're going to use the rest of your life
and it's something that is relatively easy.
Oh, and by the way, I will link to videos down in the description on how to do some
minor tailoring.
Want to save money on a jacket?
Buy it when it's a hundred degrees outside.
What I'm talking about is buying out of season.
So, understand that clothing has to move through stores.
They have the summer, they have the fall, they have the winter clothing and they're
going to want to move out that older clothing.
So, if you realize, okay, clothing has been out for about six weeks in the season.
Six to eight weeks, we see the sales start to pop up, that's when you want to purchase.
Yes, it's the end of the season, but guess what?
You're going to hopefully live through another seasons and if you're buying timelessly classic
clothing for ten years this is going to be in style, it's going to look great on you.
Now, I talked about taking pictures of your receipt, but make sure to look at your receipt
for double charges.
This happens all the time, human error and you want to make sure that you weren't double
charged for anything.
So, if you find a piece of clothing that just works for you, you like the fit you like the
brand, don't be afraid to buy in multiples.
You don't have to buy the exact same color, although that can work, but really when it
comes down to trousers, I know for a lot of guys, this is hard to find something that
fits that looks great on you.
So, when you find something that works, don't be afraid to get two, three, four.
Stock up especially if it's on sale.
Learn and use the names of your sales associates.
I'm not saying become buddy-buddy here, but what I am saying is be friendly with them,
treat them respectfully like human beings and guess what?
They’re all the sudden going to start to look out for you when you ask them, hey, are
there any sales coming up?
They're going to give you a truthful answer, yeah, you know what?
In three days, this is all going to go on sale.
Do you want me to hold this for you?
Human beings want to help other human beings.
And if you treat people with respect, you'd be surprised what you're going to get back.
When you're purchasing things, try to use cash.
So, there’s a 2015 study, they showed people that used credit cards in some cases would
spend 100% more than if they were spending cash.
Why?
Because parting with cash is painful.
[0:10:06] Be wary of the clothing at the front of the
store.
So they put the clothing at the front of the store, not that it’s best for you, but the
clothing they want to sell.
Probably at full price when you go to the back, what do you find in the back?
The clothing that maybe didn't sell as well or is out of season, but guess what?
It's going to be on sale.
And if you shop the same stores again and again, make sure to be on their email list
make sure to follow them on social media.
So many times they're putting out information about sales and this is where you want to
grab it this is where you want to use it.
And if you miss the sale, don't be afraid to ask if they can retroactively apply the
discount.
You missed it by one day, you missed it by a full week, all you could do is just simply
ask.
What's the worst they're going to say?
No, but a lot of times they're going to say, let me see what I can do, because they want
to please the customer.
And this one's easy to remember, if it doesn't work for your body type if you can't wear
it with confidence and if you don't love the way it looks on you, don't buy it.
So, what to watch next?
How about how to build a minimalist wardrobe?
I've got you covered with this video right here.
[0:11:05] End of audio