Most people love a bit of retail therapy. But, once the high dies down, you really have to ask yourself: is what you bought worth the money? And if the answer is no, you know you need to change your habits.
Here are 6 common things people spend their money on that they shouldn’t to save you and your wallet from unnecessary shopping mistakes.
1. Game Pre-Orders
Game pre-orders lose their meaning, especially when you’re buying digital downloads. Not only do you pay the highest price for the game pre-release, you also don’t know what quality you’re buying. And you can’t get a refund if you don’t like the game.
This is entirely preventable by waiting for the release and the reviews to come out before you purchase.
While some buy game pre-orders for the bonuses, it’s usually also not worth it. Most developers release pre-order bonuses as DLC anyway.
2. Clothing Labels
Designer clothes and brands have long been scrutinized for their lack of value.
However, clothing labels are often a waste of money.
In terms of quality or usefulness, when you pay extra because of a label, you are getting nothing extra for your extra expenditure.
What’s worse is, most of the time, the resale value of used designer item is very low.
3. Unnecessary Dental Costs
While some people have dental insurance through their work, a lot of Americans don’t have any dental coverage at all. And Medicare also doesn’t cover dental. This makes them liable for the full cost of treatments, which can easily be thousands of dollars out of pocket.
Luckily, there are various ways Americans can get cheaper dental care.
Dental discount plans are a great way to reduce expenses without risk. Dental schools offer treatments cheaper to give students experience. And there are also a lot of charities and humanitarian organizations offering free or discounted dental treatments for low-income households.
4. Credit Card Interest
Credit cards are often a hit-or-miss. They can help you in a lot of different ways, including financial independence, budgeting, and collecting points. However, credit cards can also be incredibly dangerous to your financial health.
If you get into credit card debt, it may take you years to pay it off due to interest. And that’s definitely a waste of money, because it’s a preventable problem.
By being credit card savvy, you can easily enjoy the benefits without falling prey to the pitfalls.
5. Brand Name Washing Up Powder
Did you know that you can save money with something as simple as laundry?
One of the biggest things people waste money on is brand laundry detergent. The ingredients for branded cleaners and no-name ones are often the same. But the price can often be as high as double for the brand.
And it adds up. Years of buying branded laundry detergent over cheaper, yet equally effective alternatives can take its toll on your savings.
6. Keeping Your Tires Poorly Inflated
There are several ways you may bleed money from your vehicle, from poor tire balancing, to using your air conditioner too much and driving with your windows down.
However, perhaps the most insidious and common waste of money is driving with poorly inflated tires. Unless you are running a dirt rally, there is no reason, need, or requirement for underinflated tires.
If you are a sensible driver, they cost you added fuel money and give nothing in return. So, it’s best to keep your tires well-inflated.
There are also other preventive measures you can take with your car that can save you money in the long run. Changing your oil regularly, driving smoothly, and sticking to your service schedule are just a few to name.
Saving Money One Small Habit Change at a Time
There are plenty of other ways people waste money. From poorly insulated walls to balance-improving bracelets, there are countless way you can spend your money without paying for value.
But, each little habit change you commit to–whether that’s buying no-name laundry detergent or inflating your car tire–can have a great impact on your finances. If you commit to these small changes, you’ll start to notice the savings mount up.
