6 things to stop spending money on
There is no worse feeling than that feeling you get when you just know that you have wasted your money on something completely unnecessary. But what about the things you don’t even realise are sucking your money without you noticing? We have put together this list of 6 things to stop spending money on. Many of the things on this list are completely unnecessary purchases for the majority of us, often with free alternatives readily available out there.
Here are 6 things you need to stop wasting your money on now!
1. Extended Warranties
Extended warranties have been proven time and time again to not be worth the paper they are written on, yet so many of us still get sucked into handing over our hard earned cash for something we are already entitled to. It’s even against the law for retailers to pressure you into purchasing an extended warranty, or sell you an extended warranty that covers rights you were already covered by. Check out the consumer law in your country for regulations specific to you. If you are in Australia, start with the ACCC.
2. Lotto Tickets
Have you checked out the odds of winning the lotto? While large wins do happen, they are extremely rare. Don’t waste your money on lotto tickets (or any other form of gambling for that matter), and instead put the money you would have spent into a high interest savings account. If you are carrying any debt, put the money towards that instead. You will be far better off in the long run.
3. Convenience Foods
Have you ever noticed those little packets of cut up fruit and vegetables in the supermarket, neatly wrapped up in plastic and cling wrap? Not only are they just contributing to landfill, but they are also a whole lot more expensive than just buying the fruit or vegetable in it’s natural form. The same goes for any food, if anyone has had input into preparing or packaging the product before it hits the supermarket shelves, you are going to be paying for the convenience. Buy foods in their closest form to natural as is possible and you will be saving money.
4. Gym Fees
Gym fees are often brought up as a money waster, and for good reason. Exercise is free! Why pay huge monthly fees to run on a treadmill, when you can head out you front door and go for a run for free? Many parks now even have free fixed outdoor exercise equipment available for use. You could also try watching Youtube videos for at home exercise inspiration, or even rent workout DVDs from the library.
5. Bottled Water
Bottled water is one of the most unnecessary purchases you could make. Bottled water is even more expensive in most cases than petrol. How many of us complain about the price of petrol, but then happily buy a bottle of water? Invest in a good quality reusable water bottle (I love the cute aluminum ones), and make a point of filling it up and popping it in your bag each and every time you leave the house. You will have no reason to buy bottled water again.
6. Kitchen Appliances
While this doesn’t apply for all kitchen appliances, some can be a huge waste of money. It can be easy to get sucked into purchasing flashy new appliances thinking they will improve our cooking and make life easier, but so many turn out to be not worth the money. Before buying a new kitchen appliance, head home and have a good think about whether it is in fact something you will actually use. It it something that will get used often? Do you already have an appliance that could do the same job? For example, so many people are jumping on the Thermomix band wagon at the moment, but this is something I will be avoiding, as the last thing I need is another kitchen appliance. I already have a KitchenAid stand mixer, a slow cooker and pressure cooker in the one appliance, and a breadmaker, all of which get used often and do their relevant jobs perfectly.