How To Stop Spending Money On Unnecessary Things

How to overcome the common addiction people have with spending money on unnecessary things and gain control over your finances!!
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Chapters
00:00 Start Here
01:08 Chapter 1: From Scarcity To Abundance
02:54 Chapter 2: The Age Of Easy Pleasure
04:50 Chapter 3: The Pain/Pleasure Seesaw
06:51 Chapter 4: Returning To Equilibrium
09:05 Chapter 5: Overcoming Emotional Obstacles
If you have trouble spending too much money on unnecessary things, it is not your fault. We live in a world that our brains weren't wired to live in, which has made addiction a very normal thing. In this video, I analyze this addictive world that we live in and how to overcome it to have a better relationship with money.
Chapter 1: From Scarcity To Abundance
In order to understand why it's so hard to stop spending money, it is good to look at our past. For the majority of the history of humanity, we lived in a time of scarcity and hardship. This made us be motivated to seek out pleasure and get it while we can. The problem now, however, is that we live in a world with an abundance of pleasure and when we get too much pleasure it starts creating problems in our lives. People end up spending too much money on unnecessary things because our primitive brains are telling us that pleasure is good.
Chapter 2: The Age Of Easy Pleasure
For most of human history, pleasure was very hard to come by and took a lot of effort to get, which was good because it gave us drive to keep moving. Now, however, it's very easy to get and we overindulge in pleasure, which creates an addictive behavior. This addictive behavior makes you constantly need to spend more and more money to get pleasure to the point that you can no longer control your spending. To overcome the addiction, it is important to understand how addictions work.
Chapter 3: The Pain/Pleasure Seesaw
In the book, "Dopamine Nation," the author talks about something called, "The pleasure/pain seesaw." Naturally, when we're at our resting state, our pain and pleasure should be balanced, but when we seek pleasure, it moves the seesaw up. In order to come down, we must experience some pain. However, as we seek more and more pleasure through spending money, our resting state is pain. We feel the urge to spend more and more to both get pleasure and combat pain. In order to stop spending money, you must move back to equilibrium.
Chapter 4: Returning To Equilibrium
In order to return to equilibrium, there are two solutions. The first is to abstain from pleasure for two to four week, which will give you time to detox from pleasure and move back to a balanced life. The second is to intentionally seek pain like exercising or taking a cold shower because after pain comes pleasure. These strategies can help you move back to equilibrium.
Chapter 5: Overcoming Emotional Obstacles
As you try to break your addiction to spending money and create a better relationship with your finances, there are four obstacles you might encounter. The first is prioritizing long term rewards because when we spend money, we are often only focusing on short term rewards. If you write down long term rewards, you can be more motivated. The second is recognizing and accepting your behavioral patterns. When you address your spending problem, you can recognize your bad habits and start to change. The third is isolation where we might feel the urge to spend money to combat loneliness; however, we should instead focus on developing human relationships for support. The forth is escapism where we spend money to escape the mundane world, but if we instead try to develop hobbies and passions, we can find ways to make the world more interesting.
When you overcome those obstacles, you will move back to equilibrium and think more rationally, which will allow you to have a better relationship with your finances.
**Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **

[@ElAgustin]

"Dopamine Nation" was the book that opened my mind to this topic. What a book (of any genre) that has opened your mind and given you a different point of view on any topic??? (I'm looking for good reads)

[@victoriamorris8678]

Atomic habits....👍🏻👍🏻👍🏻

[@rickyfarstad4197]

El Augustin and MMM told me to read dopamine Nation today lol! I recommend The Emigrant Egde by Brian Buffini

[@1986Ster]

Manufacturing Happy Citizens. Was very good!

[@Michelle_Emm]

Stolen Focus by Johann Hari Lost Connections by Johan Hari The Way Home by Mark Boyle Your Money or Your Life by Vicki Robin and Joe Dominguez A Real Life by Ferenc Maté

[@youdeservethis]

"Why We Buy" by Paco Underhill. It goes into the psychology of how stores are set up to attract bus to buy more.

[@MrNiceGuy500]

I realized how much consumerism doesn’t matter once I got sick. “A healthy person has a million wishes a sick person only has one”

[@ElAgustin]

Wow, that's an extremely deep, profound statement. Thanks for saying that. It's completely true, nothing is more important than health.

[@youdeservethis]

I have been on a shopping jag since I hurt my hip. I don't usually shop, but I am in a lot of pain and shopping distracts from the pain. I am hoping the more I am able to get out of bed, the less focussed on shopping I will be.

[@klmjtr]

I love to shop. I could shop everyday for hours. I don’t know how to stop.

[@Freakazoid12345]

I'm in constant pain and sleep deprived and when it's at it's worst, I browse Amazon and make lists of things I want to buy. Most of my lists are labeled, "crap" "stuff" and "delete"

[@user-jv4zb6zu7w]

@@klmjtr why do you love to shop?

[@chriswalter92]

I learnt to manage my money through investments and it really works for me. They say money can't buy happiness but poverty can't buy anything.!

[@tahirisaid2693]

You're right!! I'm exploring different investment opportunities and would appreciate others' insights on this matter.

[@chriswalter92]

Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *Jenny Pamogas Canaya,* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner..|

[@tahirisaid2693]

I've come across several positive endorsements of Jenny Pamogas Canaya on various platforms, including KZbin channels, seminars, and more..

[@wadeharris348]

The reason Warren Buffett has a lot of money is because he isn't stimulated by the crowd. He lives in solitude so no distractions. He has even said that he works in Nebraska because he likes the lack of stimulation to focus on building wealth. Its quiet and he can focus on the intellectual process. People always assume its for tax reasons. It is but not really. Lack of stimulation allows you to focus on the facts and distractions.

[@bleedingear1952]

I grew up poor , this followed me into adulthood (not that I didn’t have money , but more that i felt i needed to “offload” my money before it got taken away).. i have since changed my Habits and have started investing instead of spending and can honestly say i am loving my new investing addiction.. i am saving rather than spending and am getting the same pleasure from seeing my savings as i did from pointless purchases.

[@highlyillogical9399]

My biggest spending problem is caused by the ridiculous commercialization of holidays. I'm expected to go out and blow a bunch of money on gifts for the people I love. And since I don't need anything from anyone, whatever gifts I receive in return are virtually useless. So both parties end up wasting money trying to do what's socially acceptable. As a kid I loved holidays. As an adult, I dread almost all of them.

[@joelvigil6012]

Your so right 👍🏽 , it reminds me of last year for Christmas. The same thing happened to me. I just buy gift cards now for my family but all the gift wrapping and stuff is fun though I get creative 😁. But it's hard tho yea I get what your saying.

[@highlyillogical9399]

@@joelvigil6012 if it were up to me I'd rather spend time doing activities and sharing a fancy meal with my loved ones instead of just buying stuff. In the end, it's really the retailers that enjoy holidays the most.

[@andreabellini6796]

Holidays are the absolute worst for wasting money on junk. I have two adult children. They each get $100 cash for whatever they need or want and we all go to a nice lunch. It’s made my life less stressful

[@SteveWKk]

The holidays get shoved down our throats constantly by these big corporations… I walked into Starbucks the morning after Halloween and the place was wall to wall Christmas shit- with the staff all done up in Santa and reindeer hats😳

[@joelvigil6012]

@@highlyillogical9399 yeeees exactly. That's what I'm saying we go broke after the holidays and they get rich I never use to think of it that way but I see clearly now. And yes a nice time together is more heartwarming 🥰

[@benedictjoseph3832]

I think im one among the few who likes to visit shopping malls...explore the new collections..spend time for fun without buying a single thing except a cup of coffee. I do this often..rarely i buy things.

[@noseefood1943]

Curtail temptation such as social media, ads, tv, show off people, rich people, etc

[@juliem.3936]

OH MY GOSH!! This video is for me!! Thank you! I haven't used the credit card in three weeks. I haven't stopped shopping but I'm paying with cash now. Baby steps. Thanks for these tips.

[@ElAgustin]

Good luck!

[@plappin]

I think a good solution to the overspending thing is to reconnect with nature, ideally (for me) in the company of other people. Away from stores and the culture of consumption, it's easier to reconnect to the simple things that can provide joy and a sense of awe. I don't think spending is really a true addiction for most people and I fear that using that term does a disservice to people whose lives are controlled by true chemical addictions. I think most people spend carelessly because they're bored and just don't know what else to do to feel happy. Take a hike, walk along the ocean, watch a sunset, drink coffee with a friend -- works for me and, I think, most people. Great topic and very well presented, Austin!

[@IrinaVanRonkel]

I'm preparing for 2024 low buy year. About 4 years ago, I noticed that my problem was overconsumption, and now I am gradually working on it. I don't plan to "have fun" on Black Friday and Cyber ​​Monday at the end of 2023 like I did in the past. Thank you for your videos!

[@rhondalyn100]

Ain't no fun goin' broke, man. Keep your mindset and you'll be fine.

[@flatandsplat]

Good luck! Me too. I want more travel and less stuff. Cannot wait to have an abundant 2024

[@susandodds8482]

The Christmas lights are up in the local shopping precinct, Christmas ads on the TV, by the time Christmas is here I'm so sick of having it shoved down my throat, Christmas shouldn't start so early!!

[@kathleenepugh9495]

Yes, I know that this is true. Just today I was looking at one if the shopping channels. I had my phone in hand, I was in the process of ordering an item. I paused and said to myself, "ya know you are getting played". I stopped immediately and was in awe as to how close I came to being "played". Think ya'll think....for yourself!

[@youdeservethis]

When I was going through my divorce, I watched the jewellery channel and they all are so friendly and made me feel loved and cared about. All I had to do to feel beautiful again was to buy some sparkly things to wear.

[@gavinlocke5980]

Love your videos from New Zealand Good to know your spreading great advice 👍 your awesome keep it up.

[@Jerel_con_jota]

Mil gracias! Me encanta tu contenido👏🏾👏🏾👏🏾

[@wadeharris348]

Managing the feel good emotions of wanting to spend with working out instead has made me build wealth. Not to mention having a brokerage account that automatically withdraws and puts it into set it and forget it really helps. That keeps you disciplined. Any time I feel like spending I just sit and think about do I want this or do I want a boatload of money to quit my job and stop working and live on my own terms? Guess which one I pick lol

[@jennabanko605]

Another great video Austin! Thank you!

[@ElAgustin]

Thanks for watching!

[@SqueakyWombat]

Amazing video. Thank you

[@doreenlamothe9278]

Thank you, Austin!

[@carolynbarrett6542]

😮love your video!!!! I’m a liquidator of estates. Your excellent frugal ideas are spot on!!!! 😊

[@sha_breezy5229]

You always give me motivation! You said long as you have $500 at least then you’re doing better than 64% of Americans. That gave me a motivation to now set my lowest balance to $500. Nothing less than that , I’m very close and I’ll hit my market sooner than two weeks. By next month I’ll be tripled. You help people who make a low income feel like we can too, get to $1k+. It’s just about self control and self discipline. I haven’t spent any payments and I see everything building.

[@jordanbatka033]

Austin with another banger. What a stud

[@rhondalyn100]

Naw...he's just a little cutie!

[@juliehoot3916]

Muchas gracias!

[@AnnMitt]

All that stuff we purchase ends up in landfills

[@sagenozko9317]

Great video!! I will be unsubscribing from all shopping emails and staying off-line until after the holidays. I’ll be spending time outside doing things I love to avoid over spending. Thank you for what you do.

[@Revert2017]

This is wild! I have doing in-depth self-research on dopamine vs neuroadaption gremlins (pleasure vs pain). To date, I have a theory that real joy comes from the mundane (when the seesaw is in balance). I also believe that people these days are scared of joy because they are afraid it will be boring. Thank you for this. It is sooooo important!

[@estudiorobertoayala]

Loved it gracias

[@MrNiceGuy500]

Right now I’m getting pleasure from not spending! From saving! Getting a good amount from a high yield savings account

[@highlyillogical9399]

Seeing your savings account increase each pay period gives a much more satisfying dopamine hit.

[@Opm0316]

That’s a good dopamine. Actually me too. I get excited if my money earned some interest. Right now there are many banks offering at least 4% interest.

[@kimzeck9827]

Great video ❤❤❤

[@Asadc1995]

As someone who wasted alot of money through my younger start 20´s years of my life. Mostly being pc parts electronic stuff which kinda is a expensive hobby. But as i got older because i was kinda due to life circumstances forced to live with other people which some of them where annoying jerks as hell. That i realized that having ones own place is much more important than all that fun stuff

[@OnCashFlow]

Just checked out the book from my library! Thanks!

[@ElAgustin]

Awesome! It's a great book!

[@sharonlugone5955]

Frugal Hedonism is a book that joyfully reinforced my frugality. It has a lot of short chapters that talk about using creativity instead of money to create a rich life. The authors are Australian and their writing is funny and clever, encouraging us to think outside the consumer mindset. Can't recommend it enough. Another great video! ❤

[@Michelle_Emm]

Thanks for the suggestion, I will look for it at my library.🇦🇺

[@danicegewiss862]

I must admit that I still find things to buy. My dog bites herself so I ordered something that hopefully will stop that. I also ordered her fish food because I hate going places. And something to make my skin look better. And on and on it goes.I still haven't found a bargain on a turkey for Thanksgiving. I may have to buy the Aldi's special turkey.

[@SirenaSpades]

This completely resonates with me and is basically the reason I'm watching your channel!

[@leeallsopp5152]

Another fantastic informative video Austin, keep em coming mate! 😎👍

[@TimelordUK]

Agustin, I live in England and I've never heard of a teeter totter or whatever you said! I call it a see-saw lol

[@Britbec]

Came here to say this lol! Otherwise, great video 😊

[@justnoticing]

Thanks for this video, you have covered this topic in a way that I haven't encountered before and which is very interesting and helpful. I saw that you put out a survey about why we like your videos. I like the style of your presentations (short, sharp and creative), your voice & personality, humour, sincerity, and the topics and ideas you cover. Your graphics make everything clearer. I hope you can keep bringing out this sort of content for us, thanks.

[@ElAgustin]

I appreciate the feedback!! I'm trying. Can't hit home runs every time, but hopefully most of the time!

[@Michelle_Emm]

​@@ElAgustin I prefer it when you sit in your living area like this video as opposed to the stage set. It feels more like we're having a conversation.

[@autobotdiva9268]

helping my son with his ADHD Tax! i only buy essentials and wait for holiday sales for new sweaters, clothes, shoes if needed. my extra money goes strictly into retirement accounts

[@SYoung-sd4ub]

I learned how to make my addiction work for me. I can't wait to get up on payday and see how much money I can put in my savings account. I am addicted to doing this. It's like Christmas every week to my brain.

[@mcdianer]

Just subscribed. Love how you simplified concepts and get straight to the point.

[@essentialadvantages6790]

I always try to get things for either free or cheap. Doesnt always work out but I try my best. I'm mostly practical too.

[@GrannyLinn]

Wow Agustin, your advice just gets better and better. You must study ALL the time. This one got me for sure.

[@ElAgustin]

I appreciate it! I'm trying.

[@SusieQZee]

I like to take road trips. That’s where I enjoy spending my money. I hate buying anything that a Goodwill would sell.

[@rhondalyn100]

Right on, right on, right on!

[@andreabellini6796]

I love bingeing these videos. I’m already a minimalist but I love listening

[@ElAgustin]

I'm glad!!

[@bui340]

This one is knowledge dense to the extreme. But I'm not sure if socializing with other people make you spend less.

[@workinprogresssince1974]

Everything is turned into an addiction because retailers need profit profit profit at consumer expense because they just don't care.

[@KittyKat-vb1nd]

They Never did. Wage slavery. Work, debt and repeat

[@willmartin34]

What's really important to me is that my home every room is functional that I don't have unnecessary I'm happy with the balance that I have in my life now I'm an artist and I like my artist supplies some of the things the average Joe would think our trash but I have my home neat organizing every room is functional I think that's the key

[@scnason1300]

This video was on point. Great info and yes starving out the want helps for sure.

[@ElAgustin]

I appreciate it!

[@Kyla94934]

Lol I had to replay you saying "teetertotter" 😂

[@VitalBigras]

Apart from the prehistoric man… everything makes sense. Thanks 😊

[@Michelle_Emm]

Why? Admittedly it was the short version of prehistoric man but it was pretty accurate.

[@ronirony2122]

I use to be soo addicted to shopping. I remember saying to myself while in a store,"I must buy something before i get out" also to impress people i didn't like. Im so glad i got out of that rabbit hole!

[@redouteshabby2024]

Super interesting! I love makeup and skincare and that is my spending money dopamine. It makes me happier with what I see in the mirror, so I get a double shot of dopamine with the purchasing and then the use of the products. I am a complete introvert so its uncomfortable for me to have friends and I work from home so yeah, kind of isolated in my little world!

[@victoriamorris8678]

Have you heard of Hannah Louise Poston?

[@meropale]

I love Amazon.

[@carnivorecaveman]

You're talking about the socalled "hedonic adaptation", and "dopamine fasting".

[@judyduncan1852]

I'm just trying to spend money on things that will benefit me the most. I just spent 35.00 on a dehydrator so I can dry my own herbs and vegetables.

[@wildfoodietours]

The secret is to distinguish btw wants and needs. We actually need relatively little.

[@heatheratkinson7956]

Some excellent tips, thank you. Browsing Etsy for me has become an addiction, one I want to stop. By the way, we call seesaws seesaws in England, I thought teeter totter was American xx

[@chrsitineadriaenssen6074]

Spend, life is short

[@amyjones8613]

It's even harder for those with anhedonia where you don't feel pleasure. You keep trying to get it because you crave it. Like in those with mental illness. Yet you never feel better. I am definitely going to find that book you mentioned, Dopamine Nation.

[@allenbrown9052]

I should’ve had you write my book reports in high school. 🧡 🐪

[@ElAgustin]

I'm much better than Chat GPT!

[@burpeesquad]

Austin .. loved the video.. one small thing It's Anna Lembke(pronounced as lem kay) Source - Andrew Huberman podcast

[@ElAgustin]

haha, thanks!

[@burpeesquad]

@@ElAgustin big fan. Keep up your good work🙌🏼

[@ricopunojr.4137]

wow

[@Homehaven3]

Watch out! The elitists don't want this information leaking to the public. Lol. Excellent video. Keep up the great work!

[@Rocky_Anunnaki]

Good Day

[@ElAgustin]

Buenos Dias

[@cathychats]

I've just purchased a new iphone and watch but after this I wil not buy anything for a year 😅

[@Savvynomad225]

Spend money and time making happy memories, not buying stuff

[@Jenniferhneway0]

Love your content . I am thinking because of this If i Break Up my continuing education for a Higher Position ...i have a Child a fulltime Job and a Seconds Minijob ,household to do....but i don't really have quality time with my Child or even time for myself i am Feeling stuck...and i think i would do better without pressuring myself so much

[@kaidrewry552]

Love your videos... thanks for sharing... I think many pple have a twisted definiton of abundance, not focusing enough on spiritual one. We are becoming so lazy and entitled. Can you please do a video about ethical investments or purchases? That would be cool.

[@ElAgustin]

I'll put it on the list!!

[@disruptapps]

Another El Augustine video! Buddhist Monks and Nuns are such an antithesis and antidote to today's manufactured falsehood; monks and nuns fine peace and content with basic food, shelter, robes, chants, meditation and basic temple chores. So the question is: What is it they know that we don't know? or is it- What is it they DONT KNOW that we know?

[@abrahams.lincoln6749]

Ahoy people. ✌️

[@fabianflores2339]

Goes back to beginning of the earth😅

[@horaciot8277]

💪

[@jimv77]

My wife and I make $250,000 a year in a very low cost state. Debt free and a very high net worth. We have avoided consumerism for the past 15 years ...we actually live a minimalist lifestyle. NGL: don't know what to do with our money besides invest it.

[@rhondalyn100]

I can think of a few things, Jim. I'll send you a list. 😜

[@ElAgustin]

Fuel for a fire!!

[@Michelle_Emm]

Help the poor? Help the environment? Help animals?

[@RichardTouchfaith]

@@Michelle_Emm The poor usually has mental issues-No way. Environment--try all you want, but won't make a dent the way China and other Asian countries treat the environment. Animals are meant for eating.

[@Michelle_Emm]

@@RichardTouchfaith you are everything that is wrong with the world.

[@cardermedia]

05:17 As we say in England...a what!? lol

[@ElAgustin]

A teeter-totter. Just a joke, haha.

[@cardermedia]

Haha, no worries. I’m English and you’ve taught me what a ‘teeter-totter’ is. Must be a regional thing, I’ve said see-saw all my life lol PS: New subscriber, love your content btw 👍🏻

[@loriella6250]

I find dopamine comes when I DON’T spend money. That is being gifted a used item, being able to comfortably retire, living a declutterred life,etc. I’ve been frugal for twelve years in preparation for retirement. There is pleasure in this lifestyle. Anyone else?

[@Michelle_Emm]

Never used Amazon, never will.

[@jamesr1703]

With Christmas approaching, we need to remember that Holidays attached to spending have been created by marketing companies. Every single holiday now has a foundation of buying stuff. Now "Black Friday" is insanity. Agree to not spend on stuff and to spend time with each other.

[@y.preyer]

So Christmas was invented by the followers or Jesus Christ to make YOU spend? Or maybe the Christmas was invented to celebrate something better in our souls?

[@commonsenseisntcommon1776]

3rd

[@workinprogresssince1974]

What do they call a see saw in England????

[@ElAgustin]

A totter-totter (I just made that up on the spot though). Such a silly word.

[@cozyteascones8978]

I am from England and we always called it a see saw. I heard teeter totter when I came to America. Love your videos Augustin. I live in California and I am paying way too much for the apartment that I am in. I have heard many times to move to a cheaper one, but the cheaper ones are not in a safe area, so I stay where I am and it is difficult to save just because of this. Rent will go up $100 again soon as it does every year and I am not rich.@@ElAgustin

[@rhondalyn100]

@@ElAgustin I LOVED teeter-totters when I was a kid. I'm a Tennessee girl. Wish they made them for adults. I'd find me a fat friend and have a ball!!

[@RoxUnlimited]

I know someone suggested it before but would it be possible to maybe a video on how you personally grocery shop? I know myself and definitely others get caught in the grocery store tactics that cause excessive spending and falling into the trap of getting items we weren’t originally planning to get

[@ElAgustin]

I've made a few in the past!!

[@RoxUnlimited]

@@ElAgustin Ooo I’ll have to go watch them! Thanks Austin 😊

[@chinhwankim]

1st

[@svongsa]

It’s not me that has the issue, its she. 😂😂😂

[@DianaCarolinaGirl22]

The world according to the Bible has NOT been around 200.000 years, more like 5000.

[@tomvarnadoe4302]

I am....Sucks

[@chrsitineadriaenssen6074]

Necessary things are the less worth spending. I love having debt bying art and elegant high quality cloths. Counting is ill!

[@TruthToaT]

You Sir and your generation are the smartest in history. Well Done 👍

[@kKenzBS]

Yeah evolution is just a theory

[@davidmann2524]

You have Hunter gatherers very wrong. They worked like 4 hours a day on survival things. We did farming because it was safer, not because it was easier. Also, there is a theory it was done mostly because we could create beer as opposed to picking up fermented fruits. And it was hardly “scarce”. There’s always animals to hunt. The problem is if you broke your ankle or some shit, you’d be dead most likely (and part of the reason more men are born then women - and was probably even more severe back then)

[@violetagira8687]

Haha , your comment makes absolute NO SENSE. what a waste of time.

[@zojirushi1]

Why are you whispering in this video. Lol

[@user-jv4zb6zu7w]

lol. nothing worse than telling people their behavior is not their fault. my spendthrift buddy years ago told me it wasn't his fault. society made him the consumer he is. we are the exact same age. i spend less than $500 a month outside of rent and utilities. about $100 on gas, $50 on medical insurance, $25 on a gym membership and the rest on food and entertianment.

[@greggardiner895]

Meditation ? @byronbaybarrels