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Looking to save some money? I’ve compiled a list of 50 things you should stop spending money on.
1. Apps and In-App Purchases
There are many apps that require you to pay to remove ads or access premium features that are unnecessary for the average user. Unless the app is extremely important to you or if it is for your job/business that will increase efficiency and profitability, cutting down on apps and in-app purchases can save you some money.
Do this instead: If you’re not sure which apps you’re subscribed to, use Truebill to help find and cancel unnecessary subscriptions. Also, stop paying for in-app game purchases!
2. Bottled Water
Bottled water is convenient and relatively cheap. However, plastic is detrimental to the environment and you are throwing money away for something you can get from your tap or water filter.
Do this instead: Get a quality water bottle to reuse indefinitely and stop buying bottled water. If you don’t have clean water access readily, use a Brita filter to do so.
3. Books
Don’t get me wrong, everyone needs to read books. However, buying new books can be a waste of money if you can get cheap, used ones or borrow them from your library. Ebooks are also a great alternative to saving money and space.
Do this instead: Get a library card and access free ebooks on Hoopla Digital or Overdrive. Opt for used books when possible, and don’t buy hard copies that are more expensive than their softcopy counterparts.
4. Brand Name
It is well-known that brand names are oftentimes more expensive than generic ones. While some may argue it is a matter of quality, I’ve never found that to justify the premium in price (for the most part).
Do this instead: If there is no vast difference in quality, buy generic or store brands for over-the-counter medication, clothing, and pantry items.
5. Cable
Most cables are costing Americans more than $100 a month. These cable providers probably include a bunch of channels that you probably will never watch anyway. Besides, cannot carry your cable with you if you leave the house.
Do this instead: Cut the cord and opt for streaming services instead. Eg. Netflix, Hulu, YouTube TV. Be careful not to overload your streaming services though!
6. Cleaning Supplies
Did you know that you can DIY most cleaning supplies that work and save money in the process? From all-purpose cleaners to glass cleaners, chances are you can make that yourself.
Do this instead: Ditch the chemicals and start making your own cleaning supplies. An all-purpose cleaner can get the job done in most cases.
7. Coffee
While having someone make coffee for you is nice, it can get really expensive too. $5 a cup, three times a week can add up quickly and is not worth it if you can make that yourself easily.
Do this instead: Invest in a good coffee maker like this one from Amazon and start making your own coffee. There are also plenty of tutorials on Google and YouTube on how to make a good coffee as well.
8. Dining Out
We all love dining out, and there is certainly a place for it in our budget. However, if we’re being honest, we all probably need to cut down on it.
Do this instead: Get on YouTube and TikTok to visually learn how to make restaurant-like dishes in the comfort of your home. You’d probably want to invest in a quality knife as it is vital to every cook. Try to cook it in bulk so that you can freeze it for another meal.
9. Drinks Out
Drinks and alcoholic beverages at restaurants and bars are generally very expensive. It is actually where most restaurants make their money as well.
Do this instead: Get water when you’re dining out, it’s free. If you’re craving alcoholic beverages, get yourself a bartender kit and make your own cocktails!
10. Dryer Sheets
Although dryer sheets can be relatively cheap, you can still do away with it and achieve equal or better results with wool dryer balls.
Do this instead: Get some wool dryer balls and say goodbye to dryer sheets! No more trying to find that dryer sheet hidden in the pile of clothes anymore.
11. Expensive Phone Plans
Phone service and cellular data are such an essential part of our lives that we often don’t think twice when picking a phone plan. However, do you really need unlimited data? Or the unnecessary “extras” that come with your plan? There are many budget phone plans like Mint mobile and Google Fi that often cost less than half of the major cellular carriers.
Do this instead: Research how much data you use a month and which carrier and plan fit you best for the cheapest price. If you’re really looking to save, get Prepaid and save big every month.
12. Expensive Vacations
You do not need to spend a fortune and travel to exotic places every vacation. According to Lendedu, “the average American expects to spend nearly $2,000 on vacation. That can easily reach into the five figures for families.”.
Do this instead: Travel locally to save on flights. If you are trying to save more, a staycation is great to rest and reenergize without the stress of planning.
13. Extended Warranties
When you buy big-ticket items like appliances or tech, consider skipping the extended warranty especially if the warranty cost can outweigh the repairs over time. Check reviews on the product to see what others say about repairs too.
If you still want peace of mind, some credit cards do offer automatic extended warranties if you purchase the product with that card.
Do this instead: Get a credit card that offers you an extended warranty on purchases for free. The Chase Freedom Unlimited is a great card that offers cashback on everyday purchases as well.
14. Fees and Charges
Banks are notorious for their fees and charges. Some examples include checking account fees, ATM fees, overdraft fees, wire transfer fees, etc. Last year, we had an idle bank account that was charged an overdraft fee for a subscription we have forgotten to cancel.
Do this instead: Get a bank account that doesn’t have fees or charges. I personally use Discover and disabled the overdraft. If you don’t have money in your checking account, stop spending money on it!
15. Gas Stations / Convenience Stores
Items at the gas stations’ convenience stores are generally overpriced. A bottle of soda can easily be a dollar more than what you can find at the supermarket. Convenience always comes at a premium!
Do this instead: If you are going on a road trip or driving a long distance, plan beforehand and get your favorite snacks from the supermarket. You can also invest in a cooler to keep your water and drinks cold.
16. Gym Membership (If You Barely Use It)
Perhaps you had lofty goals in the new year to get in shape and purchased a gym membership. However, if you barely go to the gym, save your money, cancel it, and stop spending money on something you don’t use!
Do this instead: Cancel your gym membership if you are barely using it and start working out at home. Invest in some dumbells and home gym equipment to save that hefty monthly fee.
17. Haircuts
Haircuts + tips every month can get expensive. According to the Professional Beauty Association. the average cost of a men’s haircut is $28. For that price, you can invest in a hair clipper set and cut your own hair as many times as you want.
Do this instead: If your hairstyle is not complicated and doesn’t need professional trimming, get a hair clipper set and watch some YouTube videos on how to cut your own hair.
18. Houseplants
Houseplants can be cute and all but let’s be honest – it is really pricey and takes time and a lot of effort to keep it alive. I remember my wife bought a fiddle leaf fig tree for $100, and it was dead in a month even though we tried to do everything right to take care of it!
Do this instead: Get fake plants that look exactly like real plants and stop spending money on houseplants. Fake plants can give you the beautiful decor look without the hassle of pruning, feeding, debugging, etc.
19. Impulsive Purchases
Money is emotional for many and that can often translate to impulsive purchases. One of the biggest culprits is online shopping. Technology makes it so easy to find something and checkout in a matter of seconds. This has led many to fall into the trap of buying things when they feel like it because it is so easy and makes one feel good in the short term.
Don’t get me wrong, occasionally treating yourself is fine as long as you remain disciplined in how many impulsive purchases you’re making.
Do this instead: Create a budget and see how much room you have before making an impulsive purchase. Most people have a “fun money” category and you want to keep track of that to not overspend. If you have bad self-control, try not to window shop at online retailers like Amazon as they deploy technology to make you want to buy something when you’re browsing.
20. Interest On Bad Debt
You should never accrue and pay interest on bad debt. Bad debt includes debt that charges a high-interest rate and does not build your wealth like credit cards and payday loans. Credit card interest rates can go up to 20-25% and payday loans can go up to 400%!
Do this instead: For credit cards, pay off the full monthly balance each month. For payday loans, just avoid it at all costs as the interests and fees are exorbitant. Remember to only buy what you can afford and avoid paying bad debt interests if possible.
21. Keurig K-Cups
Keurig has been a game-changer for many coffee lovers. However, K-cups can cost more than 5 times on getting coffee from a pot and you should stop spending money on them.
Do this instead: Get reusable k-cups so that you can use your favorite ground coffee every time. If your coffee grounds are too fine, use these k-cup filters.
22. Lottery Tickets
According to CNBC, the odds of winning the Mega Millions jackpot – are 1 in 302.6 million; the odds of winning the Powerball jackpot – are 1 in 292.2 million. Even though tickets may cost less than $5, you’re still pretty much throwing your money away with those odds!
Do this instead: Don’t throw your money away and stop spending money on lottery tickets. Start saving that money and learn how to invest for retirement instead!
23. Manis and Pedis
Manicures and pedicures are fun and have their place when you treat yourself once in a while. However, there are many DIY options that you can do for a fraction of the cost so that you can stop spending money on manis and pedis unnecessarily.
Do this instead: My wife got these press-on nails that look great and are also very easy to use. You can also follow this guide for a more traditional mani and pedi route.
24. Paper Towels
I’ll be the first to admit that we are still using paper towels due to their accessibility. However, growing up, my household never used it, and got to save some money (and trees).
Do this instead: Replace your paper towels with these reusable cloths or rags.
25. Pet Toys
My dog tears up her toys within a week or two of getting them. As dog toys are not cheap and we want to keep our furry friends happy, I started researching and found that you can make DIY pet toys from things around the house. Also, stop spending money on pet box subscriptions unless you will spend more outside of that!
Do this instead: Check out this list of DIY dog toys that you can make and save that monthly.
26. Precut Food
Precut food like fruits and vegetables are really convenient but never worth the price. You often get really little for the price you pay too. Once you know how to use a knife, cutting food can be done really quickly and you can stop spending money on precut food.
Do this instead: Invest in a good knife and chopping board and watch this video on how to chop like a pro easily.
27. Sale Items That You Don’t Need
Too many times we buy something just because it is on sale. Remember, if you bought something on sale for $60 that was $100, you still spent $60. This goes for couponing as well as we can be tempted to buy that thing on discount just because psychologically it feels like we are getting a good deal.
Do this instead: Unless you were already planning to buy an item or will buy it in the future, don’t buy an item just because it’s on sale.
28. Shipping
Everyone loves fast shipping after ordering something online. However, you’ll typically have to pay much more for fast shipping than free shipping which may take a little longer.
Do this instead: Plan ahead when you buy something online that is time-sensitive. For example, if you are planning to buy a gift for someone, be sure to buy it ahead of time to account for shipping time and avoid paying for faster shipping if you don’t need to.
29. Simple Repairs
You should stop spending money on paying a professional to fix most simple repairs like patching up drywall or caulking. These simple repairs can be done easily with a little research on YouTube and Google. Learning DIY skills can be really helpful and save you a lot of money.
Do this instead: If there is something you need fixing, be sure to do some research on YouTube first. If I, a city boy, can fix a clogged sink and a leaking fridge just by watching some videos, you can too!
30. Software
The beautiful thing about technology is that there is oftentimes a free version out there somewhere.
For example, when I was doing some design work for my job, I found Canva and also Photopea which gave me all the tools I need without paying for Photoshop. When I got out of school and couldn’t pay for a Microsoft Office subscription, there were plenty of alternatives like Google Suite and LibreOffice.
Do this instead: Before you pay for any software, research for free alternatives and read the reviews on whether it’ll do the job for you.
31. Tech Upgrades
It seems like there is an upgrade for your favorite tech products every year. However, chances are what you have is more than enough and the upgrade is more of a luxury purchase than a need. Stop spending money on tech upgrades if you do not need them!
Do this instead: Be content with what you have and understand the psychology behind why tech upgrades seem so enticing (recency effect). Do a quick comparison of what you have versus the new tech and ask yourself if it’s worth it to pay hundreds of dollars for the little upgrade when you could save that money for other goals instead.
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