As a society, we waste money on simple, easy things every single day. We live in a world where we “just don’t have time”. So to compensate, we pay for convenience. The $5 charge here and the $10 charge here might not seem like a lot, but when you add it up overtime, it really adds up.
I put together a list of 10 things I stopped wasting money on and saw the money really add up!! We encounter these charges almost every single day.
You’re wasting your own money!
- ATM fees
Paying to access my own money is just a concept that I can’t seem to wrap my mind around. Most ATMs will charge $2-$4 to use their ATM, as well as a charge by the customer’s bank of the same amounts. Paying close to $30 to take out $20 is outrageous. Set out 10 minutes early and swing by the ATM at your bank where you can withdraw your money for free.
2. Shipping Costs
To be honest, I didn’t realize people were still paying for shipping costs. Companies make it incredibly easy to get your items for free. I pay $49 a year for Amazon Prime with my Student membership; however, I order so much more from Amazon than other companies now that I have the Prime membership. The $49 has well paid for itself many times over and over already in shipping costs alone. If you can’t reach the minimum amount for free shipping or need your item right away, try reserving your item online (to save time + money) and picking up in store.
3. Internet Modem Rental
I’m guilty of paying for this up until about 2 years ago. Each month I was wasting $5 + tax on renting a modem from my internet provider. At the end of 1 year, I was paying well over $60 for an item I didn’t own. I went out and bought my own modem and it paid for itself in less than 1 year. Don’t be afraid of upfront costs if the savings is well worth it over time.
4. Monthly Banking Fees
So many banks offer free checking accounts with no minimum requirements. Most of us don’t need anything fancy when it comes to banking, just opt for the free account.
5.Cell Phone Insurance
Cell phone insurance is amazing! It saved me probably close to $1000 in my lifetime of cell phones. So why am I saying it’s a waste of money? Check the benefits of your credit and debit cards. I recently signed up for a Wells Fargo credit card for the sole purpose of cancelling my cell phone insurance. As long as I pay my cell phone bill with that specific credit card each month, Wells Fargo will automatically provide me with free cell phone insurance. Obviously I pay it off every month so I don’t rack up interest charges. I saved $11 + tax each month alone by cancelling my cell phone insurance through my provider.
6. Bottled water
Unless you live in an area where drinking tap water isn’t safe, STOP buying bottled water! I’m not a fan of tap water, but I’m a huge fan of water filters, such as a Brita pitcher or filter. The savings is INCREDIBLE!! I’ve bought bottled water twice in the past 3 years. Once when our town flooded and there was potential for our water to get shut off. The second time, for my bachelorette party.
7. Brand-name Products
9 times out of 10 you’re not gaining anything with a brand name product over the generic alternative. Hardly anything in my house is brand name. Target makes it SO easy to buy generic by placing the generic alternative right next to brand names and their Up & Up brand clearly states on the label *Compare to “brand name product”. Take an extra 30 seconds per product by flipping them over to compare the ingredients of the product.
8. Cleaning Products
I have very few cleaning products in my house. Simply because many general multi-purpose cleaners truly can be used for many different surfaces. For example there are many specailized products on the market for cleaning showers. So does that mean I also need to buy a different cleaner for my kitchen sink? Unless you have surfaces with very specific care instructions, a multi-purpose cleaner can be used for multi-purposes.
There are very few circumstances extended warranties are a good investment. Extended warranties are incredibly specific on what they will and will not cover and most times, they will not cover much more than the manufacturer’s warranty.
10. Buying Books
I’m talking about novels. Most times you buy a novel to read it one. Why spend upwards of $15 to read a book once? Head to your local library instead where you can “rent” books for next to nothing.
I challenge you to try to cut just 1 of these charges out of your life for just 1 month and see just how much money you can save by eliminating one of these items.