This millionaire does a reaction video on the spending of a NYC barista who makes 15k a year.
She’s in over 5k debt and is spending more than she has.
He brought up some interesting points, for instance, pointing out ways that he would be more frugal and insinuating that his frugality has contributed to him being a millionaire.
I don’t know who this guy is but it got be thinking about how minimalism can in some ways help personal finance.
However, I do not agree that spending less and being more frugal is always better as this guy seems to think. I mean I think we can all agree that 2$ underwear from amazon isn’t a good idea lol. Don’t know what he was thinking there.
I think if you’re wearing m something everyday you might as well buy a few decent pairs that have good quality as long as you’re not just putting it on your credit card.
What do you guys think? Can you think of times when frugality is a good approach to minimalist personal finance and other times when it is better to invest in something that costs more but will perhaps save money in the long run?