Everything from rent to groceries costs more these days. We often purchase many items and sign up for subscriptions without much thought. It's important to uncover new ways to save money, so now is a great time to review your expenses.
Most of the time, we operate on autopilot, adding items to our cart or signing up for plans and forgetting about them. There are also times when we buy things that we could easily get for free or at a lower cost. Evaluating what you’re spending money on and deciding what to eliminate could help you save a surprising amount.
We'll look at common expenses most people have faced and explain why they're not worth paying for. By cutting these items from your credit card or bank statements, you'll spend more intentionally, and boost your savings at the same time.
WiFi in Public
Paying for WiFi is necessary, but paying for it in public? Definitely not needed. There are plenty of ways to access the internet for free, including through libraries, cafes, restaurants, and more. Sometimes you’ll come across a scenario where WiFi isn’t free, like on an airplane. Prepare for these moments by downloading content onto your devices before you get to the airport; that way, you won’t need the internet.
Condiments
If you want to be really money-conscious, you can get all the condiments you need for free. The next time you order takeout, ask for a lot of ketchup, mustard, or other sauces. When you go to a hotel, grab some jam jars, honey, or sugar. Before long, you will have a stockpile of condiments and won't need to purchase them.
Napkins
Similar to condiments, napkins are free at most eateries. Each time you find yourself in one of these places, grab a few handfuls of napkins and store them away. You should be able to obtain a pretty good inventory of napkins for your home, eliminating the need to purchase them.
Water
These days, there is no need to pay for water bottles. With an endless amount of trendy, reusable bottles, you can fill up your cup with water at home and sip on it all day. Unless you have to go somewhere that doesn’t allow you to bring in your own drinks, it’s unnecessary to purchase water bottles.
Bank Fees
Many banks charge monthly maintenance fees, especially if you don’t keep a certain amount in the account. Some even charge fees to send money to someone.
There is no reason to pay for bank fees, as there are plenty of banks that do not charge fees. Check out local credit unions, as these tend to be the ones with no fees for most transaction types. When sending money, utilize apps like Venmo or Zelle, which don’t charge for sending funds.
Fitness
While it may be nice to have a specific place dedicated to working out, it is not necessary. YouTube offers endless free workout videos, and jogging in your local neighborhood is always a free option. You can easily accomplish your fitness goals without spending a dime.
Your Mobile Device
As most cell phone companies are competing heavily for your business, they often come out with lucrative incentives to sign you up for one of their plans. Sometimes, they will even offer free devices if you stay with them for a two-year plan. Wait it out, and once a company comes out with this type of deal, jump on it.
Books
Local libraries have a plethora of books, so you can find most books you want to read for free. Many libraries even have eBooks available for your Kindle or other reading device. Not to mention, books can often be found at garage sales for free.
Credit Reports
It is now required that credit reporting agencies offer annual, no-cost credit reports. So, next time you want to check your report, go to one of the three major credit bureaus (Experian, Transunion, Equifax) and grab it for free. You can also get free reports year-round from most credit card companies as long as you have an account.
Office Computer Programs
You can access Google Drive for free as long as you create a free email account. Everything you need is here, including the equivalent of Microsoft Word, Excel, PowerPoint, and more. You can even convert any documents you make here into their Microsoft counterparts.
ATM Fees
Most banks allow you to take cash out without having to pay a fee. It’s the ATMs that aren’t connected to your branch that charge fees, sometimes up to a few dollars. Make sure you plan out any time you need cash so you can go to your own bank’s ATM and get your money without an added charge.
Extended Warranties
Warranties are a great thing, protecting you from losing money after purchasing an expensive item, like a washer, dryer, or fridge. But paying for an extended warranty is not worth it. Typically, the cost of repair is not enough to make extended warranties a good value.
Certain credit cards or stores, like Costco, offer free extended warranties, so if this is important to you, make sure to check out these options.
Cable
The TV industry is now dominated by streaming services, such as Max, Netflix, Amazon Prime, Apple TV, and more. Having cable TV is no longer a requirement for access to amazing shows.
Printer Ink
Office supplies can be quite pricey, but they don’t need to be. Printer ink is one of those items. It’s not well known, but many office supply stores have a service where they offer to refill your ink for a fraction of the cost of buying it new.
If you want to eliminate printer ink, try to only utilize digital documents when possible, and print at the library if you absolutely must have a hard copy.
Premium Gas
Most cars don’t require premium gas, and even if they do, recent studies indicate that cheaper gas works just as well. The most impactful thing you can do for your car's health is keep up on maintenance, but paying for premium gas won’t make much of a difference in how it runs.
Brand Name Prescriptions
Most prescriptions and over-the-counter medications have a generic equivalent that works in the same way as the name-brand versions. Paying for brand-name prescriptions is a waste, so whenever possible, always choose a generic.
Subscription Boxes
Although subscription boxes can seem exciting and simple, they are expensive, as you are paying for someone to curate and prepare them. Buying the items individually will be cheaper.
Gourmet Coffee
Coffee aficionados may argue with us here, but gourmet coffee is not something you should spend money on if you’re trying to be frugal. Instead of buying high-end coffee regularly, invest in a great coffee maker, which will make even cheaper beans taste excellent.
