How I Own Stuff For FREE: Minimize Cost of Ownership

[@SamanthaLam88]

Loved the way you explained this, I always knew selling things you don't use is a good thing to do but now I'm even more motivated to think in this mindset.

[@BeatTheBush]

Thanks! =D It's a way of life really. If you always get rid of one thing when you buy another, you wont have a huge pile of stuff after several years.

[@moneymanfernando1594]

Very good advice. You should do a video about cars. Most people throw away a lot of money on transportation. We all need a way to go to work and do errands and take kids to school. We only use our cars about 4 % of the time yet the cost of ownership is incredibly high.

[@831mermaid3]

l really got a lot from this video, thank you! and I love your teaching style the way you explain things is easy for me to understand no daydreaming which is what I always did at school!

[@BeatTheBush]

Great! I'm glad you didn't get too bored. =D

[@tindinh1344]

Can I buy you?

[@BeatTheBush]

Your comments are one of the hardest to respond to. I have no idea what to say.

[@raymondcaceres2504]

Tin Nguyen. gay alert

[@zombiejehuty]

There's no need for homosexual insults. Perhaps this is a comment to show how much Mr. Tin Nguyen appreciates the value of BeatTheBush.

[@azlizzie]

Invite him to donate to your patreon. ;)

[@OrigamiTree]

I'm pretty frugal, but I always buy "brand name" handbags, because I know one day, I will list it on eBay and value doesn't go down all that much. :-)

[@BeatTheBush]

One day? H ah aha... sometimes it goes up? Hey! You have a check mark too! Nice!

[@candyberried]

Yup, i do this with LV bags, since theres a $100 price increase per year, reselling it after i use it is awesome, i get my money back

[@BeatTheBush]

Awesome, you get paid to use it, ha! You need to keep it in good condition I suppose so do accidents ever happen to it like a scratch as you are using it?

[@Speechiegirl1]

BeatTheBush not the original poster but I do this as well. we have to "baby" the bag to get most of our money back. But in the end it's worth it. For the most part only ultra high bags can do this such as LV,Chanel, and Hermes.

[@dralbediny]

Speechiegirl1 how do u sell it?

[@dralbediny]

Man how come you don’t have a billion subscriber yet? Keep up the good work and inspiration, thank you for your content.

[@BeatTheBush]

I dunno, lol. I think the max right now is 50 Million though. =D

[@julial3758]

Can you go in depth on the ebay stuff. How do you determine the cost of the item & what is worth selling. or not worth the effort to sell

[@BeatTheBush]

sure, noted. =D you determine the value of the item by looking at what is sold previously by clicking the 'sold' items on the search panel on the left. I'd say anything worth less than $5 is probably no worth the trouble. This will be different for each person of course depending on how much you value your time and how much you want to sell it for 'something' rather than put it in the garbage can.

[@JagannathShirhatti]

Thanks. It is very helpful. I would like to sell the things I rarely use. It would be great if you could make video on how to sell in ebay/Amazon, with the setups involved like setting up the Paypal and how to handle logistics etc. Thank you so much for financial literacy videos.

[@BeatTheBush]

That video is on my mind and I will be doing it soon indeed. Glad you are getting value out of the vids! =D

[@lumay1966]

I really like this idea of looking at the value life cycle of an item. Too often, many of us buy what we want at the moment -- without considering the real cost of the item. You mentioned the build up of gadgets, etc. over time when people don't resell an item. I suspect that many us fall victim to the sunk cost fallacy: "I paid $200 for this item! I'm not donating it, and I'm not selling it for less than $150!" Depending on the item and it's demand, the cost of one's time to photograph, write a good listing, gather shipping materials, arrange the postage and the shipping "costs" more than the net selling price. I know that considering and weighing all of these points kills the buzz of buying something that you want, but if you still want it after careful consideration, then it's probably going to be a good buy.

[@BeatTheBush]

It really can cost more to sell the item when the item price is too small. It really depends on how much you value your time. It's often hard to throw away something when there is value left in it. You could just donate it if the value is too little.

[@Beauvaissbb]

as always, wonderful news!! thank you!

[@BeatTheBush]

Less stuff depreciating assets you hold the better.

[@moesizlac2596]

+BeatTheBush If you follow the Warren Buffet view of a thing called an "asset" he promotes the idea that an asset must generate an income to be called an asset. But this causes a language problem (for Buffet) because now everything that stops generating an income becomes an "item"(?), "liability"(?)... But then there is the other side where a non-income generating item may actually be appreciating faster than inflation, but one cannot realize any actual gains without liquidtion of such an item (thereby losing future potential gains). So the focus on ridding oneself of non-perfoming items, actually reduces their value even faster. leaving only extremely rare and desirable items or income producing items as the only worthwhile objects to pursue financially. This then accelerates the upward value of these desirable types of objects, while pushing once marginally worthwhile items into worthless status. So what you (and Buffet) are promoting, if everyone where to follow it, is a value-inflation which benefits those who are lucky enough to have purchased something of value (that is either intrinsically worthwhile like land, or generates an income). Everyone else simply loses by standing pat or being satisfied with what they could afford. This is why every Monopoly game ends in hard feelings: the lucky ones forget how lucky they were while they give out worthless advice to the unlucky ones just before they flip the board and walk away in disgust. We are the lucky ones until this game ends. And the more of us who work toward this acceleration of haves vs have-nots the faster it will crash. So thanks a lot for telling everyone how to be smart with their purchases, you are helping to crash it faster! (but only if everyone follows it...)

[@gnarkill32]

Actually useful information. What a concept!

[@Chariots1981]

Your videos are always interesting and offer good advice. As for me, the idea of having to take pictures, advertise the stuff and then send it off (IF you are able to sell it) is just too much work and takes too much time (I'm older so I have less of it than you (lol)). I'd rather just buy only what I need and use it till it breaks down.

[@LuisFernandoValenzuela]

in this sense, it is better to buy physical books instead of digital ones, since you can salvage some value from the former but not the latter 🤔

[@BeatTheBush]

For me, I like physical ones while also being able to pass it to someone else to read. If you buy a used one while salvaging it, you might end up paying a few dollars to free to read it.

[@gytisdramblewolfskis8521]

you can also read slightly faster, and it is healthier for the eyes with physical books. and with tutorial type books you can brighten, draw, underline etc on most important parts, words, sentences so you can read through these parts seconds to take in much more information.

[@andreyv1]

Great video. I personally do a lot of buying/selling which lets me own a lot of cool little things. I flip iPhones and Macbook computers mainly since so many people are always buying and selling apple products it makes it pretty easy. Although I love buying on eBay, I prefer to do the selling on craigslist as much as possible b/c the fees can get pretty high if you're selling expensive items. I've really been interested in scaling this up and possibly getting into car flipping

[@BeatTheBush]

I'd say its a good skill to have and just use everyday. I think resale in general is pretty hard to scale as well. You might be able to scale 10x but certainly not 100x. The value you add (and later gain) is solely from your skills of spotting and obtaining the low price which requires a fixed amount of time per item. I guess if you push it you can go 10x or 100x but I doubt much more than that.

[@ikaustralia]

Somehow I expected you to tell a story about that $300+ Dyson Fan in the background =) Those seem overpriced and unnecessary, especially for a frugal person like you!

[@BeatTheBush]

That fan? I sort of got it for free after accounting for the profit I got from selling 3 other fans. It's also refurbished.

[@SteveSmekar-ll6ln]

Thing about Ebay is if your item does not sell, you still pay a listing fee. Just happened to me yesterday.

[@BeatTheBush]

It depends actually. They offer me no listing fees all the time for a limited number of items.

[@Radnally]

Total cost of ownership or TCO may include other things besides buying price, like maintenance costs, taxes, insurance etc....

[@BeatTheBush]

Agreed.

[@jonjennings13]

I always buy stuff with resale value in mind. I always buy brand names that will sell quickly if need be.

[@BeatTheBush]

That's very true there. Non-brand names tend to linger for a long time and not sell since nobody know what it is or if it is good.

[@e.tunexthis]

I love your videos. Keep it up!

[@BeatTheBush]

Thanks! Will do!

[@babarmalik9162]

what do you think about buying a gold for investment

[@BeatTheBush]

It hasn't done well last few years. It may continue to not do well for a few more. Holding it doesn't give dividends but it's good to hold some as a hedge.

[@MK-ex4pb]

BABAR MALIK it's a long term investment and hedge. Buy silver first

[@2DRINKSMINIMUM]

What do you do for a living, beatthebush?

[@BeatTheBush]

Engineer by day, finance videos next to a stuffed t-rex by night.

[@YujieZhuEvelyn]

BeatTheBush where did you get your t-Rex? It’s soooo cute

[@mattv2099]

Excellent video

[@BeatTheBush]

Thanks! =D

[@southbound1969]

Mr. Bush, what do you think about buying a good used Rolex for a good price and enjoying it for years without losing money or even possibly making a few bucks on it?

[@BeatTheBush]

Hmmm, it takes knowledge on a product to make money. When you are wearing it, you are a target for theft and that the watch could get dinged up reducing its value.

[@jayseanchen1]

Nice Wallflowers.

[@BeatTheBush]

=D

[@SteveSmekar-ll6ln]

Another good service is OfferUp. I just sold my car and was very satisfied with the buyer and the whole experience.

[@BeatTheBush]

Nice! They have a lot of these resale apps via local these days.

[@clementinehorne]

great information:)

[@BeatTheBush]

Thanks! =D

[@someguyonyoutube1317]

Don't be jealous. I paid 10 Hong Kong dollars for the Buffet book in a thrift shop.

[@Mia-C-Crest]

Great tips!

[@BeatTheBush]

You're welcome!

[@Cinematicproductions]

Great video man! Keep it up!

[@BeatTheBush]

Thanks! Will do. =D

[@MK-ex4pb]

I don't prefer Blu-ray..

[@MatthewHartsuch]

Good video

[@BeatTheBush]

Thanks much! =D

[@sumeetkapoor00]

Do you make any money from youtube for making all these videos?

[@BeatTheBush]

Yes I do. All my videos are ad supported.

[@met689]

@5:44 he censored functional

[@BeatTheBush]

=D

[@SevenRiderAirForce]

This is generally good advice, but don't be pennywise and pound foolish. Thinking about cost of ownership and so forth for a $9 book is a waste of time. I don't nitpick small things like that because they make no impact. It's more important for larger purchases (your headphones are a reasonable example). The advice on not purchasing dumb shit in the first place is golden.

[@gnometheory3831]

Has T-rex appreciated in value?

[@BeatTheBush]

Not sure how to value him. I would assume people would bit him higher than before if I were to sell him.

[@jajasmile5321]

Leaning stocks , etf's the hell with working a other job

[@babarmalik9162]

thanks

[@BeatTheBush]

you're welcome! =D

[@CryptoDachshund]

20% of 250k is 50k

[@BeatTheBush]

250k - 20% down =200k. Then 20% of 200k = 40k.

[@CryptoDachshund]

BeatTheBush Ok, thanks.

[@MK-ex4pb]

I have a whole bunch of gadgets i rarely use .-.

[@supergirlkeke]

funny I am listening to "Goodbye Things"

[@BeatTheBush]

Just that things have a high cost to keeping them so choose carefully.

[@zdenekbenedikt9900]

Thanks for all the useful content, though I recommend more brevity. For me, 14 minutes is too long for a video on such a simple topic. I couldn't make myself watch until the end. But maybe it's just me...

[@BeatTheBush]

I like to go in depth in simple topics but I understand the long form is not for most people. There is an art to be brief and hopefully it's getting better as i do more vids.

[@TooEagerr]

be my life coach

[@jenkapro4017]

First

[@TooEagerr]

be my life coach

[@BeatTheBush]

you could start by watching all the videos under the "advanced finance" videos.