How To Stop Being Cheap

[@RobynCoburn]

I’m 63. But I so enjoy your content. Inside I still feel young and optimistic. Thank you for this whole series.

[@allieontheweb]

I've been saving for 3 years in case of emergency, but the emergency has now passed and I'd love to start being less "cheap" - thanks!

[@lawrence-juniornalty]

What do you mean by "the emergency has now passed?" What if there is another down the road?

[@allieontheweb]

@lawrence-juniornalty Something personal to me. I still have a lot saved, but I don't need to save anywhere near as much as I have been.

[@lawrence-juniornalty]

@@allieontheweb Oh, I see. All the best on your financial road!

[@plasticwrapofdoom]

I really appreciate dwelling on the distinction between cheap vs. frugal. I come from a similar socioeconomic background, but I was very lucky and strategic with some of the choices I made after graduating high school that ultimately led me to the career I have now, with a solid job I like and great benefits. So the last few years have been learning to unpack all the internalized cheap habits from my childhood, along with learning what to do with my money now that I have it (other than the obvious choice to save it). And it is definitely a challenge, because those habits runs deep. For example, I realized the other day that I feel guilty whenever I buy anything other than russet potatoes since they are the cheapest, even though they are truly not the best option for some dishes. It's definitely a work in progress. And you're right, being "cheap" isn't just the dollars leaving your wallet. It's also how you treat others and your reaction to others' choices/actions/achievements/etc. that are beyond your control.

[@helenmeyer9425]

I was like this for a long time, because it’s what I learned from my father. Then my girlfriend taught me to „buy once cry once“ and how to take care of your things instead of constantly needing to replace them.

[@MsJujubee3]

Agreed!!! I need to apply this bc I end up buying cheap, not liking it, and then a year or two later replacing it anyway. So I waste more money 😫

[@CaliHinojosaVids]

It’s so funny that you mention your hair straightener being on death’s door because hair straighteners are what taught me that a cheap product isn’t cheap if it doesn’t work for you. I have very curly puffy natural hair. Starting in 8th grade, I would go to Walmart and buy hair straighteners. I kid you not, every 3-9m they would stop working, and I would have to go get another one. They also didn’t work that great in general. It would take multiple passes to get sections straight. I regularly spent between $30-50 on each one. By the time I was a senior in high school, I had spent roughly $240-400 on these dang straighteners. I finally saved up $109 for the coveted Chi hair straightener. The gold standard for 2009. 15 years later it still works great and I haven’t spent a dime on another straightener. I was gifted another really nice straightener 10 years ago, and that is still going strong as well. A cheap product isn’t cheap if you constantly have to replace it.

[@llfan4eva]

This. I used to have a minimum wage job and watched my money. Now I’m earning well, on salary so money is the same each month. I’m currently going month to month like how do I have this much. This feels weird and the anxiety is still there but I am relaxing more

[@llfan4eva]

With this, I’m buying more quality products and being ok spending more

[@juanitaschlink2028]

I know how you feel. When I got my first 'well paid' job, what I was getting taxed out of my pay was about what I used to earn. It took.months to realise I didn't need to do the maths when I was food shopping. I could just.....get what I wanted.

[@crystalcastillo7575]

Can you do the opposite type of video? I feel like every time I step outside I waste like $100 on tomfoolery

[@Semicolon42]

That sounds like you are being "cheap" with yourself and your enjoyment. Instead of the "cheap thrills" of tomfoolery, how can you invest in your values? What tomfoolery do you regret spending on the next day, and what do you feel good spending on? What are you spending on in the moment vs towards your long term goals and values? I agree, another video focusing on this but from the "overspending" perspective would also be nice

[@zucchinigreen]

She's done videos on consumerism in the past - maybe check those out + question what's driving your impulses. Maybe you're watching too many influencers plug must-have items and it seeped into your subconscious. (Been there) Maybe you're craving a feeling of stability and comfort that's lacking from other areas of your life. Or maybe you need to know your triggers and work around it. I work in marketing and I fall victim to marketing tactics all the time 😂 Hope this helps.

[@aslprobro]

I need the opposite video. "How to stop overspending"

[@Semicolon42]

This video does apply there. Overspending can be teasing yourself cheaply. Like overspending on fast fashion. How are you overspending? Buying lots of things you don't need? Going to too many shows? Stuff to make you feel better now? Going from cheap mentality (good deals to fix fears now) yo abundance (inclvesting in your values) can help with overspending as well as "underspending"

[@zucchinigreen]

Could be lifestyle creep as well. There's videos about that on the channel as well. I both am in awe of inflation while being mind-blowing at the cost of things I pay for now vs 5 years ago. Old me would be in shock, but I try to find balance. I recognize that everything is more expensive, but I can still make choices that work for my budget and overall financial goals. I agree with Chelsea about "paying yourself first" (put money towards savings, retirement fund, paying off debt, big ticket items) I think that helps give you a sense of accomplishment that overspending can't because your future self will thank you. Hope this helps.

[@Talidataluda]

I can relate to parts of this and I also want to say that from personal experience, it's hard being on the receiving end of this type of thinking and it harms relationships because creates a sense of competition and assumption that other people are malicious even when it's not the case

[@Incomodiana]

Chelsea, I love your channel, your input, your mindful takes. TFD channel has helped me have a clearer vision of what I want in life and I am very appreciative of it. Tsm

[@fbp3976]

Stand by this and think the same!! :)

[@Jasta85]

I started working during the 2008 recession, and then went through the covid shutdowns, and now who knows what's coming up in the next decade. I'd have to be much wealthier than I am today to be comfortable spending money that I don't need to, rather than saving it for the future. That said, I'll never burden other people with my choices such as borrowing money or expecting them to pay for stuff for me.

[@DownwiththeRabiit]

This is something I have also been working on and so thank you for sharing because these are conversation that need to happen, but can be embarrassing to admit.

[@fbp3976]

These are such great points, Chelsea! There’s such a big difference between being cheap and even stingy, vs being frugal and attentive.. both with money, as you say, and with other aspects, such as emotions and comparisons with others! Also wanted to say that since I discovered TFD earlier this year I’ve loved every single video! Feel happy and lucky to having discovered this channel! :D watching you as an Italian living in another European country ☺️

[@LisaLove-m4l]

Please make a Part 2

[@LisaLove-m4l]

Very relatable topic!

[@sadgorlwoohoo]

chelsea, thank you so much for your honesty in this vid whilst describing the true difference between cheapness and frugality. this topic was explained in a way that i think did so well bc of your vulnerability, which is not always easy to do. thank you and will try to be less of a silent subscriber hahaha

[@Nancy-1w]

I retired at 52 and honestly, I wish I’d done it sooner. The 9-to-5 grind steals your freedom for a paycheck that barely scratches the surface. My advice? If you’re in your late 30s or early 40s, start saving for FIRE now - Financial Independence, Retire Early. And if you’re in your 50s, invest smartly and break free from relying on your job. Market trends, like the Trump Effect, have made millions for many, including me. Stay focused, stay consistent, and remember: financial freedom is within reach if you make it a priority.

[@Florencewalter-o4s]

Exactly My point! The 9to5 grind is just not worth it the stress and low payoff. What specific steps did you take to break free?

[@Nancy-1w]

Working with Lorrie Greta Hillard , a financial advisor, was a game changer. She helped me refine my savings strategy, including retirement planning, and provided expert guidance on investments and budgeting to maximize my savings.

[@Florencewalter-o4s]

Got it! Thanks for the tip! I was curious, so I looked up Lorrie

[@MoniqueJ-g2s]

So done with 9-5, its Depressing!

[@johnCoy-u1w]

I have 5 more years and I can’t wait!

[@jorlowsky469]

I have definitely had trouble with this for the past 4 years

[@juniorgod321]

I’m not cheap, I just don’t buy crap I don’t need!

[@LisaLove-m4l]

What gets me is when other people call you cheap for not spending YOUR money. Then they refuse to chip in.

[@jazziered142]

So here's my thing, I barely scraped by as a single parent, no savings at all until I was almost 50, and now I've had to take every extra bit of money that I could have spent on fun stuff for my retirement. So yeah, I have been a perpetual state of broke. And then when I retire, I won't have that much, and I'll be broke then too.

[@zucchinigreen]

It's not too late to make strategic financial choices and find ways to maximize your earnings. I think you're being "cheap" with your potential. Don't give up on future you.

[@Cacau8448]

I love all your videos. This one, however, I felt deeply.

[@celina-]

Please make a video on how you set your budget for savings and retirement! I am 27 I just got my first full time job I have to pay back my student loans and I’m finding it difficult to manage expenses, I’d love to hear your advice! ❤

[@internationaldevelopher1185]

I second

[@maggiesjournal9068]

I really liked the long necklaces. I also love my short ones as well ..maybe we will layer them

[@rudebee15]

The escape from politics that I need on Sunday.

[@danrobrish3664]

I've been shaving with the same razor since 1989.

[@livingbeings]

Fun TFD game: Take a sip of tea every time Chelsea says “game changer”

[@AuntieFa]

I really wish I could send this to my neighbors

[@annamoehagen3447]

WHAT IS YOUR WALL COLOR

[@mikeandikeman5181]

I think most people have the opposite issue. Some of y’all need to learn how to be cheap first.

[@pecopeco2815]

first! love your content

[@freestrike2000]

Hey! Why don't you make another video about how smart you are for not buying bitcoin?

[@pookieadw]

Chelsea, you really fascinate me because you are bizarre, On one hand I think you are very regal, eloquent and intelligent. You have built an amazing business and are obviously well connected. However, on the other hand you also seem very immature. I have listened to you on your podcast and you can be quite domineering to your guests with your antics and political options and on here as well. I sometimes find you very likeable and other times not at all. Sometimes you share anecdotes or say really condescending things

[@poravalit863]

Am i the only one who finds sound in almost all videos on this channel awful? The volume is constantly jumping from very low, making me turn up the sound, only for being deafened the next second, when it becomes too loud.

[@reynoldslacybrleroymeuschke]

I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated.

[@ElizabethHansick]

As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@DerickSams]

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.

[@ElizabethHansick]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@DerickSams]

Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience..

[@reynoldslacybrleroymeuschke]

how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking?

[@SputnikCrisis]

The subreddit R/buyitforlife will do you wonders!

[@LisaLove-m4l]

I checked it out. My mom never replaced functioning items, bought a used car and never upgraded. She always had money for the things she needed by not keeping up with the Jones’