Kiplinger’s had an article about 10 things we overpay for – I think it should instead be titled “10 things we waste our money on!” We all have them, even the most frugal of the bunch has something they spend money on that maybe they feel slightly guilty about. While some things are worth paying more for, some are just money-wasters that happen to be more convenient at the moment.
Here are their 10 money-wasters…
- Afternoon snacks. Protein bars, etc… At $2 or more a pop, this just isn’t a cheap snack. Eat an apple instead and you get to keep the doctor away as well…
- Bottled water. Rather than spend $2 a day for water, buy a pitcher and a filter for about $20 and drink as much as you want for pennies a glass.
- A caffeine fix. Stopping at Starbucks or Dunkin’ Donuts can set you back as much as $1.65 per cup. Splurge on a pound of gourmet coffee for $8 to $13 and you can make 40 cups for about 20 cents to 33 cents each.
- Favorite music. Instead of paying up to $18 for the CD, download the individual songs from iTunes or Amazon.com for under a buck each.
- A night at the movies. A night at the theater can be $20-$30. Borrow for free from the library, Redbox, or Netflix are much cheaper options.
- Fresh-cut flowers. If you are going to get them, get them from the grocery store rather than the florist – or better yet, grow them yourself!
- Fruits and veggies. Sure, precut vegetables and salad mixes that are washed and bagged save a little time. But unprocessed fruits and veggies are cheaper and better for you too!
- Credit-card fees. Credit Card fees can be as much as $39 each time. Set up a bill payment schedule to avoid any more fees, and why not negotiate a better interest rate while you are at it….
- ATM fees. If you are charged the average out-of-network ATM fee each week it adds up to over $180 a year. A better alternative: Get cash back at the grocery store.
- Fax and mail services. Instead of paying FedEx $1.49 to fax one page, sign up to send free faxes from a provider such as FaxZero.com. Also, use the US Postal service to save money shipping!
For me, my guilty pleasure is going out to eat. Not McDonalds, but nicer meals with my wife. Thankfully I have learned to save money eating out over the last few years. What about you? Do you have any money-wasters that you have or haven’t get gotten control of?
Related posts:
- Money Mistake #4 – Not having a schedule for bills
- Save money with a high-efficiency toilet!
- What is the best way to save money?
- 10 easiest ways to save money
- How to quit spending more money than you make
- Money Mistake #3 – Not paying attention to interest rates
- 5 ways to save money on insurance
- Money Mistake #2 – Thinking that money solves money problems
{ 2 trackbacks }
{ 10 comments… read them below or add one }
Mine is combining errands…. or rather not combining them. A good example is I work right next to the post office. But I forget to take my ebay stuff with me so I go all the way home to pick it up… probably wasting a half gallon of gas. Not a big deal maybe but when I do it every day, it adds up. I am starting to think about what needs to get done for the day and making sure I am not making an unneeded trips.
that is a good point – a little forethought, can give a big cost savings!
I recently bought a Brita pitcher used for $5. You can find these pretty easily at rummage sales or Goodwill. Makes it an even better idea
I can understand bottle water if you are out, but never in house. Just use tap water and leave it in the fridge.
How often do you go with the super size meal, upgraded cable package, or premium models without thinking twice? Many companies try to discreetly upgrade you to more expensive products, but you don’t need them. Cut back on the upgrades, and you might have less need for a cheap cash advance in the future.
A while back we had to do some financial deep-cleaning and we got rid of a lot of these things. One thing I could add to your list: Buying a newspaper off the newsstand every day. If you want a paper every day, a subscription is cheaper.
Nicki,
I agree with you but the opposite can be true as well. I don’t read the newspaper at all since I get all the news I want from the internet. My wife like the newspaper but only reads it a couple days a week even though we get it delivered every day. I am sure buying a newspaper on the few days she reads it would be best…… however, there are some battles that are best left alone.
I like your angle on things. Warren Buffet said that he couldn’t borrow money at the interest rates on a credit cards and make any money. The quickest way to make money? Don’t have credit card debt!
Great ideas.
If you are looking to replace that protein bar snack. Try a high protein alternative, like roasted soybeans (edimame.) Easy to grow, easy to roast. If you grow your own, you could have them everyday for less than a penny per week.
I would like to add buying books to your list, even though, as a freelance writer, I guess I’m really shooting myself in the foot with that one.
I love to read, but I very rarely buy books, and when I do, I buy them used. I’ve always been a heavy user of the public library system, but what amazes me is how many of my close friends don’t choose the library over the bookstore.
I actually overheard a co-worker tell someone that she finally went to the library for the first time in her life and checked out a book. She even said she felt guilty checking the book out, because it felt wrong not to pay for it. I almost choked on my coffee when I heard that.
Books are expensive. Libraries are free. Enough said.
-Callie Lorentson