Stop Using Food Delivery Apps
34sThe shocking price breakdown of a single burrito reveals the hidden costs of convenience, sparking immediate relatability and debate.
▶ Play ClipAI Summary
The video discusses five categories of spending that the creator believes are no longer worth the money, including food delivery apps, new cars, concerts, extended warranties, and status-related spending. It provides specific examples and reasoning for each, concluding with a call for viewer opinions.
Chapters
[00:01]
Food delivery apps are overpriced
Food delivery apps like DoorDash mark up prices by $1-$2 compared to in-store, and even with DashPass, a Chipotle burrito costs $22.16 with tip, or $29 without the perk. Fees are insane and apps were more affordable when they first came out.
[00:26]
New cars depreciate quickly
The average new car sells for $50,000 and depreciates over 25% in the first few years. With new car payments over $750 a month, it's better to stick to used cars.
[00:40]
Concert tickets have skyrocketed
Concert tickets for big artists used to cost $50-$100 ten years ago, but now cost $300-$400, and Ticketmaster fees make it worse.
[00:54]
Extended warranties are not worth it
Extended warranties, like a $200 warranty on a $500 TV, often have exclusions and statistically make money for the seller, not the customer.
[01:09]
Status spending doesn't build wealth
Spending on status items like designer goods, Coachella tickets, unaffordable new cars, or $2,000 club tables doesn't contribute to net worth or financial foundation.
The creator advises avoiding these five spending categories to save money and build wealth, and asks viewers for their opinions in the comments.
Mentioned in this Video
Study Flashcards (7)
What is the price difference between a Chipotle burrito on DoorDash and in-store?
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What is the price difference between a Chipotle burrito on DoorDash and in-store?
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$1-$2 marked up compared to in-store.
00:01
What is the average price of a new car?
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What is the average price of a new car?
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$50,000.
00:26
By what percentage do new cars typically depreciate in the first few years?
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By what percentage do new cars typically depreciate in the first few years?
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Over 25%.
00:26
What was the typical cost of a concert ticket for a big artist 10 years ago?
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What was the typical cost of a concert ticket for a big artist 10 years ago?
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$50 to $100.
00:40
What is the current typical cost of a concert ticket for a big artist?
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What is the current typical cost of a concert ticket for a big artist?
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$300 to $400.
00:40
What is an example of an extended warranty price mentioned?
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What is an example of an extended warranty price mentioned?
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$200 warranty on a $500 TV.
00:54
What are the five things no longer worth your money according to the video?
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What are the five things no longer worth your money according to the video?
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Food delivery apps, new cars, concerts, extended warranties, and status spending.
00:01
💡 Key Takeaways
📊
Food delivery markup
Provides a concrete example of how delivery apps inflate costs.
00:01
📊
Car depreciation
Highlights the significant financial loss from buying new cars.
00:26
📊
Concert ticket inflation
Shows the drastic increase in concert ticket prices over a decade.
00:40
💡
Extended warranty pitfalls
Points out that warranties often have exclusions and are profitable for sellers.
00:54
⚖️
Status spending doesn't build wealth
Emphasizes that status purchases don't contribute to net worth.
01:09Full Transcript
[00:01] worth your money. So, number one, food delivery apps. Now, I want you guys to look at this Chipotle burrito on DoorDash. It's $1 to $2 marked up compared to in store. Then at checkout, even with DashPass, which I get as a
[00:13] credit card perk, it's $22.16 with tip. And if I didn't have that perk, it would be $29. Delivery apps were more affordable when they came out overpriced and the fees are insane.
[00:26] payments. The average new car now sells for an average of $50,000. And in the first few years of owning a car, they typically depreciate by over 25%. With new car payments being over $750 a month, I think you should just stick to
[00:40] Number three are concerts. So, 10 years ago you could have bought a concert ticket to a pretty big artist for maybe $50 to $100, but these days it's $300 to $400 and Ticketmaster is not helping that case either. Number four are
[00:54] at Best Buy and they try to sell you that $200 extended warranty on a $500 TV, these are just not worth the money. They often have exclusions and they damages that happen to your products. And statistically, these warranties make
[01:09] customer. And number five is any spending relating to status. So, this could be in the form of designer goods, tickets to Coachella, buying a new car that you can't afford, or renting a table at a club for $2,000 in order to
[01:22] get bottle service. Spending on status doesn't contribute to your net worth at your financial foundation. So, what do you think? Do you guys agree with me or you think? Do you guys agree with me or not? Let me know in the comments.
