5 Things To Stop Spending Money On (In 2020)

– How’s it going today, guys? Welcome back to the channel. Hope you’re having a great day so far. So in this video today,
we are going to be talking about five things that
you should stop buying or stop spending money on in 2020. So we’re coming up on the new year here, and a lot of people tend to
set New Year’s resolutions around spending less money
or saving more money. But the unfortunate
truth is that most people fail entirely when it
comes to actually sticking to these New Year’s resolutions. In fact, according to
U.S. News & World Report, 80% of people fail their New Year’s resolutions by February. They don’t even last one month. So if you’re serious about
spending less money in 2020 and avoiding some of these problem areas, well, then this is going
to be the video for you. But unfortunately, a lot of
people are just not willing to make those sacrifices
that are necessary in order to commit to spending less money or sticking to whatever their
New Year’s resolution is. So I’m gonna make it as easy
as possible for you guys here with this video giving you guys five areas where you should just stop spending money. So number one, let’s get right into it, is going to be JUULing
or smoking cigarettes or any kind of vaping. Now regardless of the
health effects of vaping, or JUULing, or smoking, just
the financial side of this, it’s a very dumb thing to
be doing with your money. We’ve all talked about for
years how expensive it is to be smoking cigarettes. But now that e-cigarettes and JUULing has gotten more popular
among young people, it’s time to talk about how
much it’s actually costing you for the smoking of the JUUL, and vaping, and using these different products. Now myself included here,
as embarrassing as it is, I used to have a JUUL addiction myself a little over a year ago. I used to vape and then
I JUULed for a while. And mostly for the health
reasons, I decided to stop, but it’s also a massive waste
of money at the same time. And the other thing you
have to think about here is that you can’t just
consider the financial cost of smoking or using any
of these other products. You also have to consider the
longterm cost on your health. But even just considering
the financial cost, just how much money are people spending on these types of products? So let’s start with the JUUL for example. Your basic starter kit
is going to run you $50. And then every four pack
of pods that you use with the JUUL is going
to be an additional $20. And most people who JUUL
end up going through one pack of pods every single week, meaning it’s going to
cost you 50 bucks up front and then $20 per week. So over the course of one
year, if you’re using one pack of pods every single week,
it’s going to cost you $960 plus the initial cost of
the JUUL, which is $50. So that JUUL addiction
could be costing you over $1,000 per year. And if you’re smoking
cigarettes, it’s even worse. So here in New York,
cigarettes are very expensive. They’re up to around $13 per pack. And most people who end
up smoking end up smoking one pack of cigarettes per day. So over the course of one month,
that means you’re spending close to $400 on cigarettes, which is a massive waste of money. So it could be costing you
as much as $5,000 per year on cigarettes that we
know are just horrible for your health to begin with. So JUULing, smoking, doing
anything of that nature, it’s questionable or bad for your health and it is terrible for your wallet. All right, guys, so the second thing to stop spending money on is
your cable TV subscription. So I have a question to ask you guys, and that is, what does
your cable subscription actually cost you? Most people are gonna answer that question by telling me the cost
of their cable bill, but there’s actually an
entirely separate cost that people don’t talk about, and that is the opportunity
cost of watching TV. And what that comes down
to is the number of hours that you spend watching cable TV or watching TV in general. That time could be used
doing something else like maybe exercising, or
reading, or anything like that. So you can’t just consider
what you’re paying for that subscription. You also have to think
about the amount of time you are spending
consuming that television. Now I personally ditched
my cable TV subscription about two years ago. It was when I moved out
of my parents’ house. And when I had my first
apartment, I just said, I really don’t need cable TV. I don’t wanna waste time watching TV. Instead, I mostly just watch
YouTube and I take advantage of other streaming services out there. So instead of spending money
on a cable TV subscription, I follow the other strategy of just bumming off of other
people’s Netflix and Hulu. I do not have a
subscription to either one, but I have friends who have both of these, and so I just logged onto their accounts. And I just use theirs
if I ever wanna watch Netflix or Hulu. And then the other thing
I take advantage of is the Amazon Prime video
content since it’s basically something I’m already paying for with my Amazon Prime subscription. And as I’ve mentioned before, I’m a big fan of the Jack Ryan series. So just how much money are people spending on their cable TV subscriptions? Well, Consumer Reports did a
study on this back in 2018, and they found that the
average price consumers paid for their cable bill was $217.42 a month. That is an astronomical amount of money to be spending on cable TV. Not only are you wasting money on this, but it’s taking away your valuable time, so the opportunity cost
for this is huge as well. Now more and more young
people are cutting the cord. And to be honest with you
guys, I wouldn’t be surprised if in 20 or 30 years having
a cable TV subscription is just so uncommon
that you would be amazed if someone had one, kind of
like a landline telephone. But if you are somebody
who is still paying for that cable TV
subscription, cut the cord. Take advantage of YouTube
and then other cheaper streaming options as well. All right, guys, so a third
thing to stop spending money on is expensive hotels. And what I’m suggesting
instead is considering using Airbnb rather than
always just booking a hotel. And I’m not saying that you
should avoid hotels altogether, but what I’m simply saying
here is consider Airbnb as an option as well. And always price out the difference between what it would cost to book a hotel versus using Airbnb instead. So I am personally a huge fan of Airbnb. I travel probably at
least 12 times per year, and I would say 90% of
the time I book Airbnbs instead of a hotel. I often find the location
is more desirable, and there’s usually
amenities and added bonuses that you just don’t get with a hotel. And on top of that, I almost always find that it saves me money. And I feel like a lot of people out there have these concerns about
Airbnb where they’re thinking, oh, I’m afraid to stay in someone’s home or what if somebody
comes in while I’m there? And I feel like a lot of these concerns are just overblown at this point because of the review system and all of the checks
and balances in place. And I have personally stayed in probably two dozen Airbnbs. I’ve even hosted Airbnb at my house here for an experiment with making money, and I had over a dozen
guests come through. I never had a single issue with anybody either hosting with Airbnb
or traveling through Airbnb. So personally, guys, I’m a huge fan of it. If you’ve never tried it
before, I would recommend it. Just consider it as an option
in looking at the prices of a hotel versus Airbnb. And at the end of the day,
when you’re booking for Airbnb, that money is oftentimes
going to families, or couples, or actual people
rather than giving money to a large corporate hotel chain. And I just kind of like the idea of that rather than just giving
money to these big companies. All right, so the fourth
area you should look at spending wise is expensive
college educations, particularly going to a
four year private school. Now before I say this, guys,
I just want to make sure I’m not hating on college here or saying that it’s a bad idea. I personally went to college and I got a two year associate’s degree from a local community college. All that I’m saying is
that you should consider other options out there aside from just that four
year private education because of how expensive it is and how the job market has changed. And the thing is, guys, I know
a lot of people personally that are tens of thousands of dollars, if not $100,000 or more
in student loan debt from a private education. And the thing is, there
are a lot of opportunities out there that don’t require that level of expensive education. So using myself for example, when I went to community college, I got a two year associate’s degree in electrical construction and maintenance which cost me about $12,000
over the course of two years. And then I was able to get a job working for my local power utility that paid me over $60,000 per year at the age of 20. So there’s a lot of
opportunities out there that simply do not require these four-year educations anymore. And after decades of
these four-year educations being pushed on young people
as the only path for success, well, now we’re finally
seeing massive shortages in certain areas like the
trades, like being a plumber or an electrician, or also,
in the health care industry. So there are really high
quality and high-paying jobs that don’t require massive student loans and these four-year educations. So I’m not against college, guys. I’m just saying, all
options should be considered and that just getting
that four-year education shouldn’t be something
you just automatically go out there and do,
especially at a private school. All right, guys, so the
fifth and final thing on my list here to stop spending money on is bottled water. Now in fairness, I actually
bought this case of water for my Airbnb when I was doing my listing, so I didn’t buy it for this video. I already had it. But bottled water is
a huge waste of money. And even if you don’t do it
for the money aspect of it, think about the environmental aspect of bottled water. Because I get it, most
people are responsible and they recycle their
bottles, but not everyone is. And a lot of empty plastic bottles end up in the trash can. Now I understand where this comes in because it’s extremely convenient to have bottled water. You don’t wanna have to
worry about filling up a pitcher in the fridge
or maybe you don’t like the taste of your tap
water, but it’s honestly costing you a lot of money, and it’s just bad for the environment. And honestly, guys, comparing the cost of bottled water to tap
water is unbelievable. According to a study by Convergex Group, consumers are spending 300
times the cost of tap water on bottled water. So can you think of
anything else out there that you would spend
300 times more money on just for the convenience? And look, I understand
that a lot of people simply do not like the taste of tap water or they’re worried about
what’s in the tap water. So even so, let’s compare the cost of bottled water to using a pitcher filter offered by Brita. So if you’re drinking one
case of water per week, when you factor in the
cost of the bottled water plus the redemption, assuming
that you’re not actually bringing that to the recycling center because who honestly does
that at the end of the day? It’s probably costing
you about $5 per week for a case of water. Over the course of one
week at $5 per week, that’s gonna cost you $260 per year plus over 1,200 empty plastic
bottles are generated. So the basic Bita water
filter which is the pitcher that you put in the fridge cost $16.99, and the first filter is included. Now they recommend changing
that filter every two months, which means you would have to purchase five additional filters throughout the course of one year. Now those filters on Amazon are going to run you $4.50 apiece. So over the course of one year, the cost of the initial
Brita water filter pitcher and five additional filters
is going to be $39.49 compared to spending over
$250 on bottled water. So as far as drinking water goes, you have three options here. Number one, spend next to
nothing drinking tap water or number two, if you’re
worried about the flavor of the water or whatever may be in there, you could use a Brita water
pitcher with the filter or some other water filter
for about 40 bucks per year. Or by spending money on bottled water, it’s costing you as much as $260 per year. So anyways, guys, that’s
gonna wrap up this video. Thanks so much for watching. If you stuck around to the very end, make sure you subscribe and hit that bell for notifications of any future uploads. And also, let me know down
in the comment section below if you think you’re going to follow any of these tips for 2020 or other things that you think people should just stop spending money on in 2020. So that’s gonna wrap up this video, guys. Thanks for watching. And I will see you in the next one.

100 thoughts on “5 Things To Stop Spending Money On (In 2020)

  1. FREE $40 Airbnb Travel Credit: https://ryanoscribner.com/airbnb-credit

    Buy Your Brita Water Pitcher Here: https://amzn.to/2sUKYnm

  2. I actually cut my cable a month ago. Saving myself $115/month and have thus spent more time doing other things that I enjoy. While I agree smoking/vaping is expensive I do enjoy what it does for the sin stocks. I don't use the products myself but enjoy watching this market.

  3. Hey Ryan, you have to do another video. I'm allready saving on all those things. Please make a video with 5 more things to save on 😉 I want to save on even more things. Have an amazing Monday, Andreas

  4. I remember in high school I used to get jealous when someone got into a "good college". Now looking back, I'm glad I wasn't one of those people paying super high tuition. For the money you would spend to go to a university, there's so many other things you can do with it that will make you money. I look at it now as why should people spend 100K+ for a 4 year university just to come out and get a job that makes something like 50k-100k a year or even less. The worst part is that you're still working a job, not owning your own business making passive income. I found community college to be the best option for those who care about money because it cost less and gives you time to think about whether you really want/need to go to a university.

  5. Nevermind the fact that everytime you go grocery shopping you need to add 1 giant bag of water bottles to your cart everytime and transport it home…

  6. So, by simply giving up on smoking and cable tv, one will then be able to max out their Roth!

    I know giving up on smoking is not easy, but doable.

  7. In 2020 STOP wasting MONEY and start investing MONEY….but also STOP waisting TIME, and start investing it in your PASSION

  8. Thanks, Ryan I travel a lot and I am one of those people who have concerns on staying in a stranger home. Bur after looking at the website the homes are very nice and some are cheaper than a hotel with more amenities. I may give it a try. Also I totally agree with you on the 5 things some people waste money on.

  9. Yes, I will adapt to some of those changes AirBNB, and the Water Pitcher and Filter, I already had been had with the college but I came out Okay on that with a scholarship. Thanks Ryan…

  10. I don't smoke and never will I. Why should I spend so much on creating bush fire in my body, lol! Great reminder on travel accommodation. Thumbs up bro👍👌🏼

  11. 1 pack of cigarettes per day? Even for a heavy smoker that's excessive how big are the boxes? Are the 20's? I'm quitting anyway and I smoke at least 2 packs every week

  12. Get a filter for your water. Either a filter jug or attack one to your sink. Don't drink tap water the money saved isnt worth your health

  13. People should stop spending money on lottery tickets and scratch offs or play less frequently like once a month or so. Also, good point on expensive education. I went and got a one year vocational trade certificate and the program was paid entirely by federal financial aid but I took out a personal student loan of $1,000. The education DID end up paying off and I got a well paying job with excellent benefits and a ridiculous amount of paid time off, even though I was unsure if the education was ever going to pay off while attending school!

  14. I'm still guilty of a home cable account… I watch Survivor with my daughter, and my really guilty pleasure (don't tell anyone) is watching the Bachelor/Bachelorette with my wife, lol. And then live sports are nice… I could cut back….I probably should…

  15. I was expecting something along the lines of Onlyfans and Premium Snapchats. But I remembered you're a man of intellect 😂

  16. Every time I am out eating with someone and they pay for water I give them a very disapproving look. So many times it is at a restaurant that can give you free tap water too!? Not to mention the waste of the bottle!

  17. I give you my recognition on this video Ryan , you are truly a resourceful person !! I couldn't agree with you more on those 5 things I don't smoke because it's not worth my health or my dollars. I rarely book hotels , if I travel I'm usually staying at someone's house that I know , I do have an AMAZON PRIME account which I always use and taking advantage of its perks is awesome instead of paying for cable !! Bottled water is a waste for me , I mean I do buy seltzer / mineral water as a replacement over soda other than that , I did invest on my own AQUATRU WATER FILTER which I LOVE I only buy their filters once a year which enables me to save from buying bottled water . Perhaps you can post more videos like this awesome recommendations !!

  18. Ryan we appreciate the honesty. Not a lot of people are willing to admit that pods are a way to burn your money.

  19. Rememeber that YOU are the most important person in YOUR world. Don't envy other people. Don't compare yourself to them. You can appreciate and respect them. But don't demean yourself because they have something you don't. Love yourself. You will be spending the most amount of time with yourself. Not anyone else.

  20. I completely agree: spending money on bottled water is STUPID. I know people who buy it for “convenience” – whatever that truly means – but don’t consider the financial or environmental effects. If people want to carry a bottle of water with them, then they should buy a reusable water flasks which is more environmentally friendly than dumping plastic

  21. Water! I’m so embarrassed to admit but watching Aquaman got me to finally stop buying bottled water.

  22. I recycle every single one of my water bottles. I’ve also been collecting all of the bottle deposits into a rainy day fund. Have several hundred dollars so far.

  23. I have to ask who on earth smokes a packet of cigarettes a day, who has cable TV and also water bottles…I recycle the bottles (I take them to the bottle depot) and it causes $3.49 per 24 bottles because I just moved to a small town and the tap water tastes really yikey
    Maybe I should buy Brita 🙄

  24. Even with resources such as you & many others on YT I wish more people my age (20, junior in college) made smart choices (not juuling, less water bottles) & invested more, thanks for the awesome vid!!

  25. Great vid, Ryan. I've done most of what you covered except for Airbnb and quitting bottled water. Need the latter distilled for my CPAP machine, but it's only costing me around $3.20 per month by going with gallon jugs. Kicked the cigarette habit in 2011 after smoking over 40 years, crazy how expensive they are these days. I'm still not out of the woods health wise. Been going in yearly for cat scans so they can catch any potential problems early. So far, so good ::::fingers crossed::::

  26. I don't like the assessment of the water bottles, but that's probably due to my home (we have recycling pickup here). Tap is too fluorinated, which cooking is fine with but not straight drinking….brita might be a cheaper option, except that fluorine is not on the chemical chart of filtration through their system, so to be certain, I just buy the water bottles at $2.86 per week or even 2 weeks (I can't stand water, it's for my girlfriend and her daughter). Even if it did, then you have to think about the "time" itself….time taken away almost every day filling up a gallon and waiting, back filtering and cleaning every time you have to change the filters, and then you have spill possibilities (you drop a water bottle, it just hits the floor, you pick it up).

  27. Watching TV an hour is costing you an hour you could work. If you watch 2 hours TV a day, you lose 42 hours of work a month.

  28. Bottled water: The world is not America, I'm watching this from a 3rd world county and let me tell you this, tap water here taste like bleach. Spending money on bottled water will save you from dying.

  29. Some bottled water on hand is VERY useful in case of a natural disaster. Many water systems rely on having electricity. I also keep lots of canned chili, beef stew etc. on hand because it doesnt have to be cooked in an emergency.

  30. USD 13 per pack?? That is equivalent to RM 55 in my country! The exact price for a full tank petrol for a sedan car!

  31. When it comes to entertainment I just did a video where I listed sixfree streaming services. That are legal. However there’s hundreds and thousands of free TV shows and movies

  32. Brita filtration and like units taste nasty. I refill 5 gallons at local grocery for roughly .40 per gallon. “Glacier” water machines are my favorite if you can find.

  33. re: smoking/vaping: the long term cost of the health care from damage can be huge as well. invest it so you benefit from the compound interest. Long term rewards vs. long term costs.

  34. re: college education- remember that there is an education industry that relies on marketing and advertising to customers to maintain the billions and billions of dollars being spent there. So yes, education is good, but like with all other products- the providers are going to use psychological tricks to convince people that what they're selling is necessary. And what they're selling is generally NOT necessary. #EducationalIndustrialComplex

  35. The tap water tip depends on where you live, once a guy that come as an exchange student to my city insisted that everyone should drink tap water instead of buying the 30l water jugs that everyone have in home, to be more environmental and after two weeks he needed to go to a doctor and she told him that the infection was caused for drinking the tap water and that he shouldn’t drink the tap water, and if he wanted to help the environment he should buy a glass bottle and refill it, also when you buy the jug full of water you must give the empty one, the 30l jugs cost about $1.50 or if you don’t have an empty one you must pay an extra for the jug, I don’t remember how much it was but it should be around $5-$7

  36. Sit down kid. You weren't asked to sit the grown up table. Life isn't a homework assignment. When your balls drop, you have life experience. Maybe you can fetch my beer.

  37. But i NEED my netflix, disney plus, hulu, cable, crunchyroll, funimation, apple stream, while my amazon prime shipping my vaping 🙁 because of my 1 day a week free time!

  38. There’s no reason a 5 item list should be 14 min
    Smoking or vaping
    Cable tv
    Expensive hotels
    Expensive college
    Bottled water

  39. I had $100k in student loan debt … from a public college. A bad one, too. After you consider the costs of textbooks, food, and housing (mandatory on-campus for the first year), those "affordable" tuition rates stack up to $20k per year.

  40. I dig this. 7/9 last stays have been Air BnB v Hotels and I've saved so much. I refill a 5 gallon for 1.75. And I've learned so much more from YT and courses over my 2 years I college. So much so that I dropped out 2 classes from my degree.

  41. got rid of cable t.v. & house hold internet long time ago. drink tap water. don't smoke or vape.

    want to invest in more lawn care equipment this year… & my own truck.

  42. Stop paying for Amazon prime. I use EBay. You don't need any items by tomorrow. And its free .If you do, you need to manage your life better.

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