EXPENSIVE STUFF I DON'T NEED - SAVE MONEY ON THESE THINGS

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Overview

I firmly believe that it’s okay to buy and have some nice stuff. We all have things we value, and sometimes those things are on the expensive side. No problem! But, sometimes it’s good to look around and ask yourself, “What is some expensive stuff I don’t need and don’t really value?” If you can identify these things, you can really begin to cut some costs out of your budget.

Check out this”Expensive Stuff I Don’t Need” list:

Cable
New Cars
Top-Of-The-Line Cell Phones
Top-Of-The-Line Computers
Underutilized Subscriptions
High-End Athletic Apparel
Name Brand Groceries
Specialty Coffee Drinks
Over-The-Counter Medicine
Bottled Water

Hang with me and we’ll take a closer look at why you should consider trimming back on each of these.

#1: Cable

I grew up in a big cable house. We loved some TV. In fact, I still love some TV. But, more recently, cable alternatives have made it possible to enjoy TV without that giant bill.

Tell me if this sounds familiar. You move into your home and get a “special introductory rate” on your cable package. You get comfortable with that price, and then boom, suddenly the honeymoon is over and you’re paying double or even triple that amount.

Instead of making the negotiation call again, make the goodbye call.

My wife and I have put together a fantastic entertainment package by picking and choosing streaming services we enjoy at a fraction of the cost of cable.

The fact is, if you can cut the cable cord, you can also cut some major costs.

#2: New Cars

I wrote an article recently where I went into some detail about appreciating assets. The short version is this: If something goes up in value over time, it’s probably an appreciating asset.

A car is not an appreciating asset.

In fact, it’s the opposite. It’s a depreciating asset. From the day you buy it, nines times out of ten, the value of your vehicle is only going one direction: down.

This is especially true for new cars. By the time you get it home, you’ve already knocked off a nice chunk of value just because it’s now considered “used.”

Now, I know there are some serious car people out there. You love your cars and you want what you want. This one may not be for you. If cars are what you value, put your money there.

For the rest of us who are just trying to get from point A to point B, buy something used and reliable. That way, a chunk of the depreciation has already occurred.

Read My Article On Investments And Assets Here

#3: Top-Of-The-Line Cell Phones

I love iPhones. I have an iPhone. In fact, I think the iOS operating system is easily the most user friendly OS out there right now. (Please don’t stop reading just because you love your Android. I get it. Flexibility, customization, etc.)

But, I have never owned whatever the most current version of the iPhone is at any given moment. In fact, I will confess that as of this writing shortly after the release of the iPhone 12, my wife and I both have iPhone 6. And we got them for free when we switched carriers. Oh, and Apple still supports them.

The thing is, there haven’t really been any huge leaps forward in the user experience on smartphones in a long time. Yes, batteries improve, cameras improve, screens get bigger, and on and on. But, think about the leap from flip phone to iPhone. It’s been a while since we saw anything like that.

With that in mind, why pay so much money for something that is essentially a repackaged version of what you have?Especially when what you have is still being supported.

Instead, ditch the phone payment plans, phone for life plans, phone rental plans, or whatever the newest way of overcharging you is and get your hands on an older but supported model.

#4: Top-Of-The-Line Computers

Again, huge Apple fan here. I’ve been on Macs for a decade at this point. I’m in an industry where that is possible, of course. I know some people are boxed into a PC and to you, I wish you the best.

However, I use my computer for work. Constantly.

If your computer is just being used for leisure purposes, the latest MacBook Air is probably not your best option. In fact, as much as it pains me to say it, no MacBook is probably your best option.

You just don’t need to spend thousands on what will essentially be a very trendy looking Facebook machine.

There are great options available in this space now for people who just need a way to connect to their online social media accounts, do some browsing, and use email. Chromebooks especially come to mind.

Rather than paying for a high end laptop, find a lower priced option that will meet your needs.

#5: Underutilized Subscriptions

Are you shopping enough on Amazon to justify Prime?

Did you actually cook all the meals from your meal kit this week?

When is the last time you watched Hulu?

Read any books on Kindle Unlimited lately?

I could keep this going, but you get the point. On the surface, many subscription services are great. But, only if you use them.

Take time to run through your budget and decide if you need to cancel any subscriptions this month.

#6: High-End Athletic Apparel

I love the fact that it’s become pretty socially acceptable to wear athletic type clothing casually. But, with the rise of ath-leisure I have also observed a rise in pricing.

Now I value a great fitting t-shirt as much as the next guy. But, a t-shirt is a t-shirt. I’ve gotten some great fitting t-shirts at Walmart for about $7. I just don’t see any reason to be paying $25 for a t-shirt just so it has a particular logo on it.

If you’re going to invest in some nice clothing, make sure it’s clothing for occasions that actually matter.

#7: Name Brand Groceries

It seems like food sneaks into just about every post on cutting costs at some point or another. But, the truth is, your food budget is a huge chunk of your overall budget. So if we can make cuts there, we can find some pretty substantial savings.

A great place to start is by going generic. If you want to see just how effective going generic can be, go read my article on eating breakfast and lunch for under $20 a week.

$20 Per Week Meal Plan

This one is just simple. Go generic on groceries, save a bunch of money.

#8: Specialty Coffee Drinks

I recently subscribed to Panera’s coffee subscription service. Remember above where I said to cancel subscriptions you’re not using? I’m using this one. A lot.

And I’m saving. A lot.

I, like so many of us, love to grab some coffee while we’re out and about. But that stuff adds up. Just black coffee tends to run close to $2.50 or more at coffee places, and who’s getting black coffee?

Either start brewing your coffee at home and get yourself a great mug, or sign up with something like Panera’s plan and ditch the $5 daily coffee habit.

#9: Over-The-Counter Medicine

I went to the store to buy my wife some over-the-counter allergy medicine last week. She usually gets it herself and wow, I was surprised. They are proud of that stuff.

But, then I noticed I could save a ton by going generic and getting the pharmacy brand equivalent.

I’m not here to give medical advice. Talk to your doctor before you go switching up medication. But, seeing if generic is an option for you is definitely worth exploring.

#10: Bottled Water

If you made it this far, gold star. I’ll be brief here.

You can get water out of your faucet and use a reusable bottle. This helps your budget and the planet. Why are you still buying bottles of water?

Worried about the water coming out of your faucet? Get a filter.

If you thought there was an up charge on soda, spend some time thinking this one through…

Conclusion

To wrap up, if want to cut some costs in your budget, stop spending money on these things:

Cable
New Cars
Top-Of-The-Line Cell Phones
Top-Of-The-Line Computers
Underutilized Subscriptions
High-End Athletic Apparel
Name Brand Groceries
Specialty Coffee Drinks
Over-The-Counter Medicine
Bottled Water

And of course, remember, regardless of your money goals, you can “Bank on a Budget” to get you from where you are to where you want to be!

You just don’t need to spend thousands on what will essentially be a very trendy looking Facebook machine.

Bio
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Alex

Hello, my name is Alex! I'm a public school teacher who has achieved some big financial goals just by getting control of my money using some simple strategies like using a monthly budget. Now I'd like to share what I've learned with you. Welcome to "Bank on a Budget!"