11 Things That Are a Complete WASTE of Your Money

Quick Overview

The video lists 11 common ways Americans waste money, prominently featuring fast food, expensive weddings costing over $30,000, depreciating assets like new cars costing over $11,577 annually to own, student loan debt, luxury clothing/jewelry, unused streaming subscriptions, and small daily expenses like coffee, arguing that true wealth comes from acquiring cash-flowing assets, not paying for status symbols.

Key Points: Nearly 75% of Americans admit to having an overspending problem, with fast food being the number one wasteful habit cited across generations (34% total). Expensive weddings are a major waste, with the average cost in major US cities like New York reaching $87,700, leading to couples often feeling overwhelmed and spending money they don't have. Buying new cars is highlighted as financially detrimental, costing an average of $11,577 annually to own and operate in 2025, with depreciation causing a 42% loss in value after just three years. The cost of a four-year college degree is often not seen as worth the expense if loans are required, as only 22% say the cost is worth it even with debt. Luxury purchases like designer clothing, jewelry, and accessories are often status symbols that trigger impostor syndrome, making consumers feel inauthentic despite being able to afford them. Hidden recurring costs like unused streaming services (average $77/month) and daily coffee habits add up significantly, costing consumers thousands annually. The video advocates for shifting focus from luxury consumption to acquiring cash-flowing assets, mentorship, and skills (trades, apprenticeships) instead of depreciating liabilities.

Context: The video presents a list of 11 common spending categories where the speaker believes Americans are wasting money, contrasting these expenditures with habits that lead to genuine wealth building. The speaker, Codie Sanchez, frequently references external data points, including statistics on fast food consumption, average wedding costs across US cities, car depreciation rates, and the perceived value of college degrees versus acquiring equity in businesses.