My Biggest Financial Mistake

[@DanielTitchener]

Big thanks to Ridge for supporting the channel and making videos like this possible! Here’s the site if you want to check them out: www.ridge.com/DANIEL

[@bodiminds6571]

Ninth

[@spaceneb8122]

Pretty cringy making a bad financial decision during covid then making a video to make back the money. It clearly wasn't a bad decision.

[@jaytotheworld2020]

Totally agree with you on this man! My wife and I used to have a Subbie which was amazing when it came to power, maneuverability and features. Over the years though, our expenditures were constantly increasing since it was a used car. Finally sold it and agreed to 5 things we need from a car: 1. Point A to B vehicle 2. Fuel efficient 3. Low maintenance 4. Strong A/C (need a good one especially in the tropics) 5. Low mileage used car All these fit our budget without having to go on debt. We may not have the glitz that a BMW or Benz has but ey, we’re happy with our Nissan taking us around whenever and wherever not having to worry that our car is a fuel guzzler 👍🏼

[@br5632]

4th comment I'm making on your videos Hey!!!!! Your PC Case is getting recalled because they're catching on fire! I was watching a KZbin video about it and realized it looked familiar because I'd seen it in your videos. Please do something about this. It isn't safe, and I really don't want yours to catch on fire. kzbin.info/www/bejne/fpauemWia5J5hNk

[@KBGDGT]

Man I’ve seen people who pay £500 a month on car finance for a nice BMW (before all those other car expenses) and yet they are basic earners. All for the status. It’s madness dude.

[@DanielTitchener]

This is literally why I made the video. Although, I think if I put it that way it would trigger too many people 😂

[@Bonanzoo]

That was me a few years ago! Sold it and bought a Prius. It was a 2016 4 Series Coupe

[@BCSTom]

I've always had a rule for myself that I would be within walking distance to work - no need to commute long distances.

[@Ada-il2mj]

Same here

[@alexisgateau-begin2082]

Same here too!

[@toxicmegacolon69]

Good luck, it's extremely privileged and most can't get that

[@gotworc]

@@toxicmegacolon69 I mean sure but you can still do the best you can to minimize the travel time or cost

[@mrturkey7647]

“If you buy things you do not need, soon you will have to sell things you need.” Warren Buffet

[@mxhunting9050]

Financial peace isn't the acquisition of stuff. It's learning to live on less than you make, so you can give money back and have money to invest. You can't win until you do this.

[@arnoldsmith9945]

Overall and Most valuable advice is to invest in assets. ETFs and real estate is the reason for my robust portfolio and investment size, I make over €270k after compounding profits. My goal is to build a solid financial statement before 60

[@rodeotime5059]

@@arnoldsmith9945 I have been watching tutorial videos on stock investment but I am still confused. Do you have any ideas that can help ?

[@arnoldsmith9945]

@@rodeotime5059 If are just getting into stock investment as a newbie the best way to achieve steady consistent growth is buy employing the guides of a reliable financial adviser. I personally trade with guidance of *Amanda Katherine Leff* and I get excellent results all the time.

[@lisarecinos3258]

@@arnoldsmith9945 I am not surprised that you work with Amanda Leff. It actually explains a lot. She is the only analyst I know who has the ability to generate such high returns. She is an Elite indeed.

[@rianamohamed300]

Daniel, you always give such great advice. Im very much the same, i never do debt, not even when purchasing my home. Interest on a bond alone would result in me having been able to buy 3 x my home. I recently was forced to buy a second car for my son, and realised wgat a huge expense it is, with gas and insurance, 😪 but Fortunately he is working now and takes care of those. All the best with your savings mission. Plz always share them with us.

[@VultureXGaminG]

a minimalist car guy... a w e s o m e

[@donseaux]

Great video! Amazing advice and what makes this video even more pleasing to watch is the placement of everything in the background and color tones. Small details make a big difference!

[@VjetnameseNo1]

Sometimes clever marketing might trick us into buying something we don’t actually need but just stick to your gun ( figuratively saying ) buy something that you absolutely need that can maximize the value the money you paid for. For example if your phone particularly iPhone, it’s will easily lasts for 5 - 6 years ( 6s plus owner ), might be some features you don’t have but for basic functionality , I am perfectly fine with it

[@Juliusceasarmusic]

dude we have the same phone! still going strong i got it back in 2016 and i had people call my phone a "brick" phone lol the phone is still a smartphone and can do more than it should than a regular phone so even with this "outdated" phone , it's still so powerful that you have to be mindful of it's usage and use it intentionally the newer phone may have better functions, better OLED screens, triple camera, etc etc but it's all unnecessary they are just toys to play with and after few weeks the joy of having a new phone is gone immediately!

[@anaalves3658]

@@Juliusceasarmusic phones are designed to be outdated in 6-12 months. Car manufacturers do the same thing, 7 years and they start to give you problems. Buying a new car is one of the worst financial investments that you can make. Getting a car loan is also a terrible idea 🤦🤦🤦🤦.

[@Juliusceasarmusic]

@@anaalves3658 getting a big car loan for a new nice fancy car is the worst thing society normalised and it sets back people achieving real wealth for over a decade

[@lowwastehighmelanin]

Yeah I was in an almost fatal crash in 2019 so when I got my accident settlement, I bought a secondhand car outright (mine's now almost 15 years old) with an already installed sound system that I can modify with a roof rack and tow bar eventually to haul things. In the United States it's not really practical to not have a car but I got the least expensive one I could with the basic needs I wanted met and it's been a wonderful little errand runner.

[@Dantenoah]

Note: Some of these advises doesn’t works for countries of the third world lol

[@slamberdog]

How's that?

[@davidwarm4356]

Ikr

[@tessoy]

@@slamberdog probably tax and insurance rules are different in third world countries. also mechanic’s fee is in general, cheaper.

[@vandihuynh7979]

perhaps one day, when the third world is no longer considered a 'third world', revisit this video. For the meantime, save, and manifest.

[@Dantenoah]

@@vandihuynh7979 sure

[@makesandskates]

As a year-round bike commuter, here are my recommendations: look for bikes with full wheel fenders, water gets picked up very easily by wheels. If you can, get Panniers so you minimize sweating on your back (unless you're carrying a laptop, I would use a backpack then) go for at least 35c wide tires for comfort and durability (If you're looking for strong tires I've used Vittoria Randonneurs most of my bike life and they've worked really well. waterproof socks: Sealskinz Waterproof pants jacket: Showerpass (I've used Chrome Industries for waterproof backpacks and waterproof jackets as well) Handlebar covers (great for protecting your hands from wind/cold/snow/water) (would def recommend if you're traveling at least 30 minutes each way or if you get very cold winters) I would check out Rock Bros (more affordable) or Bar Mitts Strong Bike Lights: Cygolite if you're looking for USB rechargeable and Orfos Lights if you're okay with carrying a power bank. Bike bags: I would check out Roadrunner Bags for handlebar bags or top tube bags or saddlebags My Favorite is the Burrito Supreme handlebar bag

[@AshTanya]

This is very helpful thank you

[@NomadeDigital]

I just moved into the city and considering getting rid of my car entirely and replacing it with renting when I need one or a subscription to a shared car pool, you didn't address it in the video but my main problem with my car is the mental stress it causes me. Repairs, getting up to code, cleaning, insurance, it's mentally taxing and if renting is as expensive or a bit more, I'll happily trade for a rented car.

[@lybanhamar6230]

Thanks for sharing this topic. I recently moved to Germany from the Netherlands and indeed it's a car country here, so life is pretty much around having a car. Such mentality doesn't really exist where I'm from and I didn't had a car, instead I cycled to work every day which is about 7km commute and had a discount membership for public transport. I ways had a rain short and an all weather jacket with me just incase it would start to rain. I would definitely recommend you to stick to the principle of cycling as much as possible. Make sure to get an App to monitor local weather and some good music with you. As a benefit you will feel great and balanced throughout the day since you're excercising for free. Man I miss that 😔 Cheers.

[@techno_eclipse]

My wife and I sold her Buick Encore in June to carvana, they paid 14k for it and we had 14.4k left on it. Paid one car payment and we were done with it, now we have my Toyota Corolla that we are planning on keeping for at least 7 years and the one car life is simple. We live out in the sticks so we need a car to get to anything like groceries or to go to the gym. But we’ve been on one car for about 8 months now and we certainly don’t have the need for a second car at the moment. Maybe when we start going back into the office or when we have kids, but for now one car is amazing

[@tylerhuttosmith]

My fiancée and I had two cars(one that was paid off and one that I was making payments on). After lockdown, she’s able to work from home so we really only need one. I sold the one we were still paying for (slight profit) and now we’re able to save more on what would be the payments and insurance. It’s been a great decision so far!

[@rianamohamed300]

Well done!!

[@Christinamychas]

I still drive a 2007 model car. Point A to point B is all I need.

[@kevjapan]

I can totally relate!! I got a 65VW Bug back when I was 16 and dumped tons of time and money into it. It was fun and I can't turn back back time but I gotta say now I would never ever dream of owning a car again. When I was 19 I moved to Vancouver and lived both downtown and near the Skytrain so a car become a want not a necessity. Then I moved to Japan which not only has an incredible transportation system it also totally suited for biking and walking. If cars are your thing go for it! But seriously if you can do without it give it a go! It could change your life!

[@djs06]

Nice video Daniel I was travelling 130 miles a day commuting for work, had a lovely 5 series BMW, but constantly working or driving to and from work. Changed jobs, now 30 minutes walk or 8 minutes cycle. Much better pace of life and more family time. We still have a car as I think you can put a price on just being able to jump in rhe car and drive off for the day (out of lockdoen anyway!!)

[@petervaneetvelde4775]

Happy for you that you’ve made that decision! Living in Brussels, I’ve sold my car 3 years ago, mainly for environmental reasons. We have been using public transport and car sharing ever since. Now, with a 1 year-old daughter, we’re thinking of getting a car again, but I’m already not looking forward to the costs and parking problems...

[@Simon-qx5cc]

As a Car lover I don´t think I'm able to completely quit owning a Car. Still I totally agree with many points you made in this Video. Especially If as a buyer you really analyze the market and dive into the topic you can buy cars that won't have significant value loss over the years. That still leaves you with fuel, insurance and maintenance cost. But if you buy a great used car you can still reduce the monthly cost quite a bit.

[@gwl5796]

My experience is very similar to yours. I owned my Lexus 2013 IS 350 from new and loved every minute of driving it. But the trouble was, I lived and worked downtown in close proximity and only used it about once a week. I took great care of the car, and when you tally up all the costs/km, including car washes just because it was getting dusty, it was getting expensive. I justified it on the basis that the car was fully paid off, but the mileage was low. Now I’ve had to relocate overseas, and was forced to sell the car which I love.. Thankfully, I got very good value for the sale, but I enjoy the new financial freedom, and the reality is I prefer to commute or walk everywhere anyway.

[@yellit1975]

There’s some people I know who’d say that getting married and / or having children was the biggest financial mistake that they’d made; especially if a divorce was thrown in. 😂😂😂 If you live in an urban environment with good public transportation, then I completely agree that a car is a luxury rather than a necessity. When I was doing consulting work, I wouldn’t have been able to get to work easily without a car. Once I had a permanent base, I was able to use public transport and so was able to let the car go. For most things, there’s a balance between need and wants. I’d like the Samsung S21 Ultra but it really doesn’t do anything that I need over my pixel 4A.

[@kdkd4233]

After graduation, since I've worked in the city (2016) in central london I sold my vehicle as I had no time to use it. Best financial decision ever.

[@skirwan78]

A lot of great points. There's a ton of caveats as well though. Where you live and what you have available factors in heavily. If you live in a city no car is almost a no brainer compared to a rural or remote setting with less access to public transport and larger distances between things. Weather (see snow) and what you need to transport (kids, groceries, DIY materials). Biking is great but you might have to wear a rain slick or change clothes at work. If something comes up (emergency/change of plans) you're at the mercy of public transport, taxis, friends, etc. Don't use studies for how much you save, use YOUR actual lifestyle, patterns, distances, and costs. Don't assume you'll accept giving up things you used to be able to do with a car. And yeah you should always temper long term finances with luxury items (cars). But in the end you're not taking the money with you either. If you enjoy cars and driving then that's a luxury worth spending money on, just don't be myopic with your finances. Motorcycles are another alternative similar to bikes but e-bikes fit in somewhere in between. Just don't fall for the myth that they're less dangerous than motorcycles- just like motorcycles the biggest threat is other cars, particularly those who don't see you- and most people only wear a half helmet while biking, nowhere close to whats recommended for gear on a motorcycle. Also less attention is paid to safety gear like neon and reflectors and lights on e-bikes. And of course obey the rules of the road, don't blow stop signs or traffic lights just because you're not in a 'regulated vehicle' like a car/motorcycle. Good luck with your experiment. Look forward to seeing how it turns out. I only put on about 3k miles on my truck a year since i work at home but I paid it off 9 years ago and my insurance and registration costs are only about 600$ a year (US). My truck is 11 years old and only has 40k miles on it. Not having a car payment while STILL having access to a car has been great. I also have a motorcycle that I put about 1,500 miles on each riding season - most of that is joy riding however. Cost of ownership for my truck has been about (36000$ New price with family discount from grandfather who worked at Ford- minus cost of trade in which was paid off Mustang GT (2006) at 17,000$) and gas has been about 7500$ in gas, 1000$ in maintenance and 700/year insurance so roughly $53k over 11 years and that goes down each year I keep it and it doesn't have issues (none in sight). So ~4,800 a year. And I think it's worth about 15k-18k on trade in right now in great condition. Either way per month ~400$ TCO right now. In 5 years from now it might be as low as 300/month with current trends.

[@rabbith0led]

You literally summarised the reason why I don't own a car whilst all my friends encourage it. I cycle to work or use public transport and I find that this method is beneficial to my health or gives me time to work on the train! Plus environmental, safety and cost benefit ;)

[@Kefford666]

We have a very similar approach to life it seems! I had a big diesel car and now instead have a 1.4 petrol hatchback, bought outright. It’s pretty cheap to run but not so good on the motorways. Live about 5 miles from work and planning on cycling it when the weather improves ☺️

[@tinchoo182]

Cars are really nice toys to play with. I don't see my car only as a transport. In fact, I generally don't use it during the week. You may say I throw out a lot of money on it, but it really gives me joy and i treat him like a son. Cars are toys for grown up guys 😂😂

[@tinchoo182]

Also I made a lot of great friends by talking about our cars. For some people, like me, they aren't only a mean of transport, they are something else

[@mrav8r]

1.5 yeArs ago, in July 2019, I downsized my condo from 1200 square feet to 900 sqft. The mortgage is now zero, and I have just paid off all of my credit cards. Right now i gasp much lighter and more flexible with many future decisions. The only downside is the new condo contains all of my possessions and is a little cramped. I will be using the Kon Mari method to downsize very soon.

[@pwblackmore]

Daniel - you've posted a helluva lot of good videos about interior designs, which I've followed. Just prior to this one, I watched your vid on early retirement, and just had to pass it on to my steppie. However, now you've moved to Vancouver (welcome to Canada, eh) and the West End, I'm sure you'll be able to live by your maxim of being car-free. I lived in Vancouver for 10 years and never needed a car. If I did - eg the trip to the Falls at Squamish - I rented one for the day. I cycled along the Seawall to work - or anywhere else close by. You may have to wait a while until your baby grows, but a child-seat on your bikes is do-able in a couple years. (If Vancouver gets too hectic - I wouldn't want to live there now - come to the Comox Valley! We've everything a big city has in a small one)

[@rickzwart89]

In Amsterdam I use Sixt Share a lot. You can open them with an app and you pay per minute, incl. power and parking fee's across Amsterdam. I think the car sharing has a big potential and you ending up only paying when you need a car.

[@JureJerebic]

Living in a bigger city, it's one of the things I'm happiest about, not needing a car at all, I just bike or use the public transport.

[@skalfcobhc]

Honda and Toyota old cars (1985-2005) are the best choice in my opinion for a minimalism purpose, mainly because of the reliability. These cars does not cost much in maintenance and are pretty fun to drive and good looking. I don't see myself buy other cars than these in the future.

[@rhyss8580]

This video is so true. I have low vision so I can drive. When all my friends got licenses, over the past few years they all kept talking about how the7 can’t live without their cars. But in fact you actually can. And it is way cheaper, I am a uni student and am able to save a bit of money by getting public transport versus my friends who never have any extra money because they have to by fuel, insurance ect.

[@Morganfreemen]

Regarding the question of what kind of car to buy if you don't want to spend too much money, my formula, which works in the UK too, I guess: if you want to buy a car for the long-term (3-5y) - buy a new one, because the service is predictable and nothing expensive can happen. The new cars lose the cost very-very fast. It will not be clever to buy it and sell in 2h. Just wasted money. It is like going to binary options services. if you want to buy a car for short-term (1-2y) - buy an old one, because it will not cost much at the start and you can sell it at the ~ same price as you bought it.

[@Trader_Gabe]

Great video, and it's funny you uploaded it because I too decided to sell my car two months ago. I had bought it for around $2.8k two years ago, it was a VW Polo 2006. I could easily afford it since I was working full time and it was fairly reliable relatively to its age, but I finally decided to move to the big city with my GF and I suddenly realized I really didn't need the car, especially since it started having some costly maintenance problems. I finally sold it for around $2k and saved a lot in insurance, gas, maintenance, parking and what not. Absolutely happy I did.

[@ZacFelts]

I own a car, but have biked the 6mi/9.6km to and from work every day for the last 3+ years and it's been one of the greatest decisions I've ever made. Not having to pay for parking each day has saved me around $5k. That's not even taking into account the costs from fuel and wear and tear. Having two ~20min blocks of exercise built into my day is also a huge perk. Riding in snow and rain seemed like it would be awful at first, but I've learned to genuinely enjoy both. The trick to riding in any condition: good socks

[@jacobcosquer]

Im 22, not even had any driving lessons and don't really plan on learning or buying a car for at least another 5/10 years: When you start looking at money in terms of the time is takes for you to earn it, your whole perspective shifts. It is strange that society has normalised so many things, a lot needs to change.

[@sidharthsundaramoorthy232]

Please post more frequently, longing to watch more of you

[@mistermastermind528]

How is the public transportation system there? We have a bad one here in the Philippines. And people, over the years, adopted the mindset that owning a car is the solution to beating the atrocious traffic we have which is just wrong. I really believe that the mindset can change if the public transportation system is efficient. If there is more public transportation that is very organized, I think people will find owning cars to be unnecessary.

[@Rich-ls5mm]

My friend PCP'd a Mercedes on finance putting no deposit down. He has been paying £700 a month and told me that in the 3 years of leasing he has paid out £15000 on maintenance. He had a financial lightbulb moment and said that when the agreement ends he is handing it back and walking away. (His other options would be top keep it and pay like a £10000 balloon payment or swap it for another car and continue paying monthly.) Mental how he would have paid over £30000 and will have nothing to show for it. Not to mention then having to find the money to buy another car as he needs one for commuting! Don't get sucked in!

[@richardjohnson2446]

Great video, but I think it’s important to also see a cars value in things other than financial. Value isn’t always in absolute monetary terms.

[@alilim3486]

I also sold my car, BMW end of 2019. In fact I realised I no need a car to commute anywhere. There is Uber, public transport and bicycle. More environmental friendly. Last time I also used to think showing status is by what we have. But after I practice minimalism, inner peace is far better than showing status to others.

[@00Pati]

In urban planning in north america, the car is almost standard because its expenses are just assumed to be normal. If actual costs of a car compared to the cost of public transit, public transit always wins. I'm lucky to live in a city where I can rely on public transit and not spend money on a car.

[@jaxx-inspiregrowcreate2862]

Ah yes, the infamous not worth it car that so many fall into haha. Glad you made the best choice for you man, there are definitely more important things

[@ahmadrezaashrafi4774]

By the way. You two look somehow similar 😊

[@jaxx-inspiregrowcreate2862]

@@ahmadrezaashrafi4774 brothers from another mother ;)

[@gauseb]

I've recently made the same or similar mistake. In January 2020, I purchased a 2018 VW Golf with little to no money in the bank. The car put me $24k into debt, but since then I've tackled the loan with everything I've got and owe just over $9K on it right now. Never going to make that mistake again. Definitely going to drive that car into the ground

[@bighappyhotgood]

This was timely! I live in Macau and am planning to return to the UK in summer, but my friends and family are spread widely across the UK and the EU, so I was looking to buy a cheap car... However, the more I looked into the choices, the more I was starting to spend more on higher spec vehicles, and I got away from my basic need! After seeing this Video, I can put it into a cost perspective and will probably go with my original intention of a small, cheap, second hand car! Funny how it seduces you to go big...

[@honestogod]

Just as comparison I pay 160 euros a year for insurance and 145 euros of tax and I own a 4 year old Dacia in Portugal Before I got it I didnt want it and planned to adapt my life to not having one. But now that I have it, even working from home, I dont want to give it up. I need it to take mybaby to a better kindergarden than the one in front of my home. I prefer to go shopping with a car as I dont have much time to shop and sometimes need things from different places. It is also the best way to take your child to hospital or doctor appointments and not be late or have to carry to many things at the same time. Whenever I can I do use public transportation but never did it with my toddler yet

[@honestogod]

actually if my parents hadn't insisted on buying the car for me I'm not sure that I would have made the decision to buy it and probably would endure and suffer the consequences of it until I had saved enough to buy one...

[@bad_writer]

Noticed the Vancouver poster on your wall. Greetings from there! Nice channel!

[@matthewahmed]

I also ditched the expensive BMW M Sport a few years back and moved into the city. During Covid, I've bought a car again, but went for a 5+year old Corsa. My choice did raise a few social eyebrows ("can't he afford a decent car anymore?") But I knew I was doing the right thing: low emissions, cheap to run, no debt, and hardly any depreciation.

[@octopiinthesky44]

My second hand E-bike is one of the best purchases I've ever made 😄

[@drewcipher896]

I knew it would be a car before I clicked the video! I only use my vehicle to pickup groceries because my city has a food desert problem and a bus would take 2 hours. I hope I can live somewhere with better public transit options when I'm done with school. I walk nearly 2 miles for my commute because there are no bike lanes and my district is in the top 20 for bike fatalities in the country.

[@xbmcme9768]

Not having a car doesn't really work in most of the big cities in the US. You can choose to live close to where you work, but then you're paying $$$ for some tiny apartment. It's far more expensive than buying a cheap vehicle.

[@VictorSchofield]

As a college student who bikes to classes instead of driving, I loved this video!

[@photosbyjf]

I am moving into a minimalist life but, car ownership in huge swaths of America is a necessity. I can definitely see living in the UK and many other parts of Europe a car is a luxury. The distances and lack of public transportation, plus lifestyle in USA is just different

[@sketchbook4505]

i have an used opel astra from my aunt, the insurance and other taxes are payed by my grandma, my employer pays my fuel receipts, and i stil feel bad when i have o put money from may own pocket for fuel or maintenence

[@waterboi4846]

as a banker i agree with no debt. if you are spending money on your liability dont take a debt. Most debts are just financial black holes cause most people are pretty much dumb with their money. Don't even start with credit card. Credit cards wont really save you anything with annual costs and interests shoudl you fail your obligations.. if you are a big CONSOOMER, sure thing. But for thrifty and frugal folks or even broke, i dont recommend it.

[@plamenvasilev]

Xaxa, I wanted a BMW really bad since I was broke AF. At the begging I wanted an E46, then E90 and never got it ... at the end, after years of saving money I got myself an E60 5er. Really nice car. I had this plan to pay full for the car and when the expenses hit 50% to sell it over, so ... I did just that. I really loved this car and the ride was really nice, it was fast as well, a lot of space for luggage and all but ... I love my money more. Cheers mate, save your money and invest them in ETFs and stocks.

[@gerythomas]

I own a Porsche. I have a fairly small home, live fairly minimal, and have a fairly good amount of savings. I do all this to own my Porsche because that's where me passion is. Also because it has always been a dream of mine. I too used to watch Top Gear and car shows and still do. That being said, I love my Porsche and drive it 1 mile to work everyday. I plan to keep it as long as I can and hopefully one day it will be an investment if all goes well. My biggest financial mistake = happiness for me But not for most

[@Hawthornearts]

I understand this completely. I enjoy having my car, I enjoy driving it, and enjoy all the perks that having a relatively new car brings with it (including paying no road tax, having warranty, and the brilliant tech inside). I am fully aware that the money could have gone somewhere else - but what's the point in working so hard if I never get to enjoy the fruits of my labours? In short - Drive that Porsche and enjoy it!

[@SGT___3722]

1 mile drives every day are not good for your car keep that in mind, cars like consistent power over decent distances every once in a while at least to clean out the engine. Enjoy that Porsche though!! Greetings from Stuttgart, Germany - yes that is the city from the Porsche badge :)

[@branokrajcovic8863]

At 35, I have never owned a car and don't (yet) have a driver's license - and I did not die because of it. Don't miss it either. Living in a big European city with great public transport surely helps. And if a car is needed for moving big stuff, there are companies for that - yeah, you have to pay them, but still sooo much cheaper than owning and maintaining a car. You also avoid the hassle of finding a parking spot every day. Someday I will get a driver's license, as it might get handy. So far I had no need for it. Carsharing is also an option in bigger cities. Btw love your no BS channel!

[@peaceall43650]

It’s not all about cost but also increasing income to fulfil a certain lifestyle

[@hillarykaelomolebatsi4783]

Places that are as developed as where you stay make it easier to forgo a car ... we dont have as convonient public transportation models as uk (i just assumed thats where you live) ... but i do agree that as long as a car can take you from point A to B then engine size doesnt matter

[@shirleyburnham2782]

I’m new here and loving your tips and advise going to really consciously try and think of ways to save x

[@OscarFernandez11]

A car will depreciate in most cases, some more than others. Your point is very valid especially for a new car purchase or for high maintenance and troublesome cars but in this case, you owned one of the most reliable, solid, and balanced cars on the road purchased at a very reasonable price. Not a bad proposition considering the depreciation and ownership cost over a 5-year period. Also, there is the passion, emotion, and therapeutic experience of driving a fun RWD car one once dreamed of owning.

[@carminemonterossi9358]

So true, cars are so overrated. As you live in London, Uber and similar apps may also result cheaper than having a car, especially if you work from home. Probably stating the obvious but it works for me. Best

[@CrIMeFiBeR]

this is the same with a motorbike but less. Bought a bike for 4k euro, put a lot of km on but service is ludicrously expensive. Not traveling but a shame to have it in the garage. However it still puts a smile on my face when i still beat any car less than 150k at a light. Only tesla's are a challenge

[@tofualvin]

Interesting you mentioned investing. Want to know about your thoughts on that. Next video idea?

[@WhosFaulty]

Love biking only downside is the constant rain in the UK

[@Morganfreemen]

Mama mia...how expensive is it to have a car in your location, Daniel. Here, in St. Petersburg it looks in another way. Look: 1y Insurance - 160 pounds Road Tax - 0 (except you use ZSD - west speed diameter, for example traveling to Finland) 1y MOT - 12 pounds/ service can be different...many factors that can't be forested. but you can count the oil change (service) twice a year for 45 pounds each (includes best oil and filters). I leave in 15 minutes far from job, and I prefer to walk to job, but when it is -10 (or even -20) I prefer going by car :D

[@shurewpg]

Great video Dan! Was wondering what your thoughts are on services such as Zipcar, and if you've ever used it to get around?

[@DanielTitchener]

Thanks James! I think Zipcar sounds awesome. I haven't used them yet as I've always had a car, but I really want to try them out now that I'm carless!

[@gpmetheny]

@@DanielTitchener We've used zipcar in California for the last decade while being car-free, and I can't recommend it highly enough. Other than that, we use public transit and the occasional ride share. We have a 5 and 6 year old, and while it certainly takes extra planning to make things work without a car, we can't see ever going back.

[@shurewpg]

@@gpmetheny I completely agree! Was a bit skeptical about it at first in terms of insurance and liability. But, ever since Lockdown in London we have been trying to avoid public transport and using Zipcars is so convenient in the city. And, it's so nice not to have to think about car maintenance and constant upkeep of owning a car.

[@EmmadMunif]

Damn Daniel, I find myself contemplating wether I should keep or sell the car and your video shows up. Cheers.

[@jeremythompson3337]

Great thought-provoking video! What kind of bike do you have?

[@allsomatt]

For my job it’s essential, I would be unemployable without it. I’d never buy new either and nothing fancy, the car is the most liberating thing you can own. Didn’t do finance either, for me having a car is a no brainer also the whole loosing investment on the car thing is just looking at it from a singular perspective, the car is just a tool but a damn necessary one. Cannot cycle doing my job 😂 something town planners don’t seem to understand.

[@allsomatt]

@Mithrandir **My comment is a year old and I don't remember the complete context of this video** It's entirely possible I would do another job, that doesn't require a car. I cannot think what that would be, but as someone who enjoys their job I cannot see it changing soon. Most do not need a car correct. If you entire existence is living in a very large city and not leaving it, you probably don't need a car. **That said in cities some journeys are faster and more reliable by car thats just a fact**. You could also do car rentals like zip car if need be. If you live outside the large city you need a car to have full autonomy.

[@Meylony105]

Greetings from Germany👋🏼 Your videos are game changers to me and I love their quality!🥳

[@moviemediaproduction]

I’d be interested to hear your thoughts on electric cars

[@daich]

Good stuff. I bought a 6 year old car for 5500 usd and drove it for 2 years and 60,000 miles later sold it for 5000 usd

[@austingergen]

My main take away from this is that I can't move to the UK because they tax you for the exhaust of your car if you don't even use it

[@ahmadali1758]

Have you moved out of your micro apartment or moved in to your family home? I wanted to understand wether you rent or not. As it's getting expensive in London and surrounding areas ... Would be an area to go into

[@DevilishAbstractions]

This strategy will only work in certain countries. In countries where the winters are harsh, cycling isn't a viable option. Also in this era of COVID-19, it's safer to avoid public transit where riders are crammed in like sardines. Furthermore, with a used car that's no longer under warranty, just get oil changes done and avoid the so-called scheduled maintenance that the manufacturer says is "required" - the car will run fine and you'll save a bundle (my oil change place hooks up a computer to my car and erases the "Maintenance Overdue" warning message).

[@scoobysnaks94]

Ridge is by far the best wallet I've owned. Highly recommend it!

[@kaeuzi2486]

I live in a city where time spent on driving a car is far more time consuming than riding a motorcycle. Also, having a motorcycle is far more cheap than owning a car. With a car, not only you need to prepare money for fuel, you also have to have budget for any kind of accidents if you're a clumsy person. Because insurance doesn't help much either. Judging from all of this, I still don't see car as a need. It's more of a burden for me.

[@HH-zr1iu]

Great Vid!

[@Hickscrit]

if you live always thinking about all the money you loose because of X thing you will live a very worring life. It's good to manage your money but there are also things which gives you more value that money can't give you. To a non car guy a car might be just for transport but to a car guy it maybe something that releases stress or something that makes them happy, it's a matter of perspective to what you give value to not just money.

[@alexisgateau-begin2082]

I was actually looking to buy a car! I was going for a nice Audi A4, but you clearly convinced me lol. I-m gonna go with an electric scooter I guess 😅

[@Snailchesster]

Would you buy a Brompton bicycle or a brandless one?

[@thelastmelon9446]

I envy your ability to live without a car. I live in Wales where it is impossible to get by without a vehicle otherwise I would sell mine in a heartbeat

[@BuonCo]

your amazon camera link, shows you have an a7 but this video is in 4k? ????????

[@jcdelacruz3668]

Try owning a car in California. It's easily $1,000/year on just insurance. $100 /month on gas. $150/ year on registration. Thats on a non-luxury car. A car is a necessity here.

[@marincardoso1371]

I do have a mechanic younger brother lol. A great resource for when I need a quick oil change.

[@HelloPia]

Hey Dan! That was cool! The 9 minutes video Flew away so fast I haven't event noticed It.

[@davidforrester8733]

Great move, I sold my car 3 years ago and haven’t looked back.

[@ROHITKSINGH107]

you will, when ambulance wont arrive on time

[@acarpio3]

This applies to any purchases. If it gives you anxiety then you should not buy it.

[@sanjgadhvi3987]

Needed a car so ended with up getting a 2008 Ford Fiesta zetec for £2000, as mentioned it’s a tool to get you to A to B

[@antocdt1413]

Really excellent, thanks, needed this...

[@Cat_in_Spacetime]

The time you spend in traffic: Pollution: 📈📈📈 Anxiety: 📈📈

[@ToadyEN]

Where do you live if you don’t mind me asking? I’d love to get rid of my car but public transport up north (UK) is horrible. Working from home my car gets used once or twice a week. Sat there losing its value slowly 🐌 One would love a public transport system like London or any other capital city

[@MartinSkopal]

I didn't own a car for more than 10 years. I used carsharing, local transportation, or bike and generally, I was happy. But I have a baby now and "no car" life is not an option for me and my family now

[@lunishu]

Hey! Thanks for the great advice and Video!

[@denzelnwonye1060]

Love your channel. Can't wait for the day you hit a million subs👍

[@TheUnderMasked]

4:01 oh man that NYC black car taxi driver breaking 😅

[@minimalli1928]

What kind of hair product do you use? Your hair is STABLE AF.