Hi Everyone today I though I would try something different and React to Graham Stephan’s video on Financial Minimalism and 10 things he stopped buying and also share what I have stopped buying this year
1: HAIRCUTS
I’ve started to cut my own hair since the first lockdown, its is not very difficult if you do not have very specific requirements. I bought hair clippers from Amazon ( Wahl ) for 20€ . I followed this tutorial, its pretty easy. Disclaimer: I am not responsible if you mess up your hair ????
2: FAST FOOD
I usually never buy fast food. I love to cook and I prefer to make my own meals partly because I want to know exactly what I put into my body and partly because it is healthier and cheaper. Plus in the lockdown its not worth it to get food delivered.
3: GYM MEMBERSHIP
I cannot give up my Gym membership, as its pretty cheap for me and it costs me 20€ per month. And buying gym equipment is very expensive especially for an expat as most expats move around a bit. Additionally motivation is a big part and not having a gym membership would definitely reduce my motivation
4: INSURANCE COSTS
Car insurance is pretty comparable to the US, there are 3 types on insurances in general, You can see more details here
5: PARKING
I take my bike everywhere so I do not have a parking issue, having a bike is very healthy plus it doesn’t cost much. Parking is pretty cheap in Germany in most cities if you look a bit, you can find free parking. More details on parking in Germany here
6: NEW CLOTHES
I buy my clothes mostly on sales, I am registered to many clothing brands and I get notifications from them whenever they are having a sale.
7: RENTAL PROPERTIES
As most expats move around, many do not prefer to buy a place and instead prefer to rent out as is the trend in Germany as a majority Rents instead of buying property.
8: FRUITS AND HERBS
Growing fruits and herbs is very common in Germany but it is very difficult to grow them if you not have space for growing them as is the case with most expats.
9: THE LATEST IPHONE
I have been wanting to buy a new phone since a year , but every time I think my current phone has all the features I use and buying a new one would be just another expense I would rather invest in the stock market as the return would be greater
10: CAT TOYS
I don’t have any pets so that saves me some additional money. But what I have done this year is to stop buying new electronics. I buy used items as most of them are in very good condition at almost half the price. And whatever I save I try to invest so that this money also works for me!
*None of this is meant to be considered as investment advice, as I am not a financial expert and am only sharing my experience with stock investing. The article and video are accurate as of the posting date but may not be accurate in the future.
