Why Don’t More YouTube Channels Discuss Finance?

Money is an uncomfortable subject. Some of us are taught from a very young age that it’s like religion and politics: you just don’t talk about it. But the sad truth is, regardless of your discomfort with money and finance as a conversation topic, we all use it, so we all need it. Money is what the majority of the world uses in exchange for goods and services. Regardless of courtesy, I think it’s something we need to talk about, especially with regard to our spending habits, as well as social influence.

As you know, I love YouTube. I have my own channel, and I love watching the videos of other people too.

I spent a lot of time the other day wondering why people on YouTube don’t talk about money. And yes, maybe it’s because it’s a bit of a taboo topic. But there are other reasons as well, and many of them have to do with viewership.

Viewers are turned off by sponsored videos. When people share their lives or viewpoints on the Internet, it is the assumption of their viewers that they are getting authenticity on the creator’s part. When paid sponsorships get thrown into the mix, some viewers feel that the authenticity of the channel has been compromised. And when they feel like the channel or creator has become “fake,” they either stop watching or they make rude comments.

Viewers are turned off when a content creator promotes his or her side-projects. For the same reason I stated above, when a YouTuber promotes a side-project or side business, people get mean. And I think that’s really stupid and counter-productive; imagine you had a YouTube channel that had a decently-sized audience, and a side business that you were equally as proud of, if not more–why wouldn’t you promote a business you are proud of on your channel?

Viewers often believe that YouTubers make a lot more money than they actually do. Yes, AdSense gives creators an opportunity to monetize their videos. However, even with a large subscriber count, AdSense pays based on engagement with a video–usually by clicks. YouTubers don’t get rich based on ads alone, and this is a serious misconception on the part of people who don’t make videos. The amount of money someone can make on YouTube varies and is based on a multitude of factors.

Finance probably isn’t the most interesting subject to many viewers (or creators). I think many of us are interested in getting new stuff but not really how much it costs.  Many of us live in hyper-consumptive societies and as hyper-consumers, we like the gratification of getting something now–or if you watch YouTube, seeing someone talk about their new stuff. We’re not all that interested in whether or not a creator is putting money away for retirement or a college fund for their kids. We just want to see and hear about the new stuff (and maybe get some new stuff of our own).

It’s really none of our business. And it’s true: the amount of money my favorite YouTuber makes in a week, a month, a year, from AdSense, from sponsorships–whatever–is not my business. And it’s not your business either.

Is there anything you wish was discussed more on YouTube?
Take a shot every time you see me write the words “new stuff” and share your thoughts in the comments down below!

Experiments in Pennypinching: Using What I Have Already

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In my first post of this series, I talked about making breakfast food in bulk and bringing it to work rather than giving in to my bad habit of stopping at Tim Horton’s. This post features another way I’ve tried to change my spending habits and save a little bit of money.

My mother calls me a hoarder; I prefer to think of myself as a forward thinker.

I have a hard time letting go of things. Not because I am particularly sentimental about them, but because I always think “Well, what if I need that later on?” before getting rid of something.

The same thought process affects my spending habits. I’ll be at the grocery store and see that roasts are on sale, and will think, “Oh! I’ll need that when I make pot roast!” So I’ll buy it, but I won’t make that pot roast for three months. I’ll see that chicken thighs are on sale, and I’ll buy them, even though I still have a package that I bought the previous week. And if they’re cheap again the following week, I’ll probably buy more. I’ll need them for something. Eventually.

I also do this with books. I’ll get bored with a book and put it off “for later,” and then I’ll buy a different one–and potentially get bored with that one, too!

I don’t like to think of this as a waste of money, because eventually I do get around to using what I buy. But it is a waste of space. My freezer isn’t tiny, but it is by no means big. And it’s full of things I have half-forgotten about since purchasing them.

Sales are by no means a bad thing, but it’s not like roasts won’t be on sale again. I didn’t need to buy that roast if I wasn’t planning on making it any time in the near future.

So I’m trying to establish a new habit in which I use what I already have rather than stocking up.

I started by taking everything out of my freezer. I pitched the freezer-burnt items and tossed the frozen soups I made last winter (I washed and kept the containers the soups were in though because what if I need them later on?).

As I was putting everything back into the freezer, I took inventory. I wrote down all of what I have and how much. Then, I took a sheet of graph paper, wrote down the items, and then drew a bar to correspond with how much I have. It’s now taped to my refrigerator, and when I take something out, I fill in one square of that bar. I’ve used up a fair bit already, but as I’ve made or bought more, the list has expanded.

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Is there anything in particular you are bad about using before buying more? Comment below and tell me what that thing is!

Experiments in Pennypinching: Bringing Breakfast from Home

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Summer is the peak time of year for me at work; I put in about 50 hours a week, but sometimes more if that’s what my boss needs. It’s very nice for the overtime, as it gives me both extra savings and spending money. I might complain about feeling overworked, but the extra wiggle room in my budget is admittedly nice (especially because my energy bill is at its highest this time of year).

Then fall starts and my overtime goes away. And while I live within my means year-round, I always feel a little shocked and stressed financially when that happens. I have to give up the bad habits of summer and go back to more disciplined money habits.

Since I started saving for retirement, I’ve really been trying to become more financially savvy. I’m reading up on finance and investing, watching the Nightly Business Report on PBS, checking the stock market, and talking to the people in my life about money. Currently, I’m reading a book by Kimberly Palmer called Smart Mom, Rich Mom, because even though I don’t have kids, there’s nothing wrong with planning ahead.

You’re reading this and probably thinking, GET TO THE DAMN POINT, SHELBY.

Smart Mom, Rich Mom is about building wealth while you raise a family. It discusses savings and investment plans, and so on. It isn’t a book about extreme couponing and pinching your pennies.

However, it does talk about establishing good financial habits and cutting costs where you can.

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Where I’m cutting costs: Tim Horton’s. I spend a lot of money during the week on breakfast food and coffee. I am one of Timmy’s Hos. It is a guilty pleasure to the point that I’m feeling a little too guilty, to be honest.

Let me elaborate: My average purchase from Tim Horton’s costs between $4 and $6, and sometimes I go there 5 days a week. I’m spending between $20 and $30 a week on breakfast.

And with the peak season at work rapidly coming to a close, I need to cut my Timmy’s habit–by 75%, at least. One day a week, every other week is my goal.

Part of why I have a Timmy’s problem is because I really drag my feet in the morning. I like to get ready and just go to work. Usually I pack my lunch the night before, but I’m not very big on breakfast. Preparing breakfast food in the morning makes me feel ill. I can just throw a packet of instant oatmeal in my purse, and I have. But lately, I’ve just been like, Ugh, oatmeal. It’s taken me all month to even get half through the box on my counter.

But I need to cut Timmy’s out.

So I decided to make things in bulk so all I have to do is grab it from the refrigerator and leave.

I may share the recipes later on, but I was up until 1 a.m. the other day (no wonder I drag my feet in the morning!) making quinoa-and-egg muffins and mini quiche. And on top of that, I made enough to last at least a week. I let them cool off, popped them into ZipLoc bags, and threw most of it into the freezer.

It might not be much but I feel good about it. We all have to start somewhere, right?

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Where do you think you can cut costs? Comment below!