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Watt indicates the power that pump will use per second. A 53W pump running 24hrs/day will cost you 24 * 3600 * 53 W. Definition of Watt can be found here https://en.wikipedia.org/wiki/Watt. Correct me if I'm wrong
This is really great for calculating the money needed. Thanks!
So, I'm being super nit-picky here, but actually most of the places you said watts or kilowatts, you should have said watt-hours or kilowatt-hours. 53 watt pump, running 24 hrs per day gives you 1272 Watt-Hours per day (1.272 KWH). And so on.
Anyway, love your videos so far, keep up the great work!