Saving money in this economy is as crucial as working hard to make it. Consumerism has a massive impact on our habits of unnecessary shopping and buying stuff that we don’t need. Considering the economy, it is only responsible to regulate our shopping and increase our savings as much as possible. In this blog, we will learn how to save money and what we can avoid buying.
Things To Stop Buying To Save Money
Let’s go through that shopping list again. Do you need all the items? Try to cut down on unnecessary and luxury products. This will save you a good amount!
Bottled water
Instead of buying bottled water, use reusable bottles to save money and reduce plastic consumption, which in turn helps the environment as well. Tap water is just as healthy and clean as expensive bottled water.
Single-use coffee pods
Skip single-use coffee pods as they’re expensive for single use. Brew your coffee at home for an authentic and cost-effective option.
Pre-packaged snacks
When grocery shopping, skip costly packaged snacks like chips and cookies. Save money by roasting nuts and enjoying fresh fruits for a satisfying and budget-friendly alternative.
Brand-name groceries
Save money on groceries by opting for low-cost items instead of unnecessary branded products. Many generic items offer the same services at lower prices.
Takeout and delivery meals
Regularly ordering takeout can be both expensive and harmful to your health. Save money by cooking at home. Occasional takeout is okay, but making it a habit is not recommended.
Extended warranties
Extended warranties are often not worth it. There is hardly any chance your products get damaged or accidentally go unused. Stop purchasing extended warranties to save money monthly.
Cable TV subscriptions
Streaming services like Netflix, Amazon Prime, and Hulu are more popular than cable TV. Cable TV is expensive and only offers a few channels. If you don’t have streaming subscriptions, think about renting movies instead of getting cable TV.
Magazine subscriptions
You don’t need to subscribe and purchase magazines when you can browse the same content on your mobile. Be it a make-up or skincare product or magazines about models and brands, every news item you consume in exchange for money can be found online at any cost.
Gym memberships (if unused)
Annually, 80% of people resolve to be healthy by buying gym or Prime memberships. Many don’t use them, which ends up wasting money. Use your membership seriously, or work out at home with YouTube videos for different body types.
Expensive cosmetics
Cosmetics often come in the same type and shades from every brand. Consider choosing local brands instead of the expensive ones. This simple move can help you save hundreds of dollars every month, which can be invested elsewhere.
Fast fashion items
Avoid the allure of trendy, fast-fashion items. Save money by purchasing fewer, high-quality clothes that will last longer and serve you well.
Pre-cut fruits and vegetables
Buying pre-cut fruits and veggies may save time, but they cost more and can be unhygienic. Instead, go for whole, uncut ones; they’re cheaper and healthier. It will just take you 5 minutes to peel or cut them.
Over-the-counter medications (opt for generics)
Choose generic medications over expensive branded ones. They are usually cheaper because they don’t have to repeat clinical trials and studies. However, they are equally effective and adhere to the same quality standards as the non-generic ones.
Greeting cards
It’s a digital world; using cards as a greeting gesture sounds tedious and expensive. To be different and save more money, try opting for digital cards or homemade/handmade ones that indeed show that you care.
Paper towels (use reusable cloths)
You can save money and be eco-friendly by using reusable and washable wipes instead of costly paper towels each month. They are good for the environment and also far more effective.
Disposable razors
Invest in reusable items instead of disposable razors. It’s good for your body and your wallet, too. Disposable razors are expensive; dropping them off can be a good decision.
Premium gasoline (if not required by your car)
Premium gasoline often costs more than simple gas. If your car does not require premium gasoline, try apps that are cheaper every time you fill up. Apps such as GasBuddy and Upside can save you money efficiently.
Brand-name cleaning supplies
Skip pricey branded cleaning supplies. Invest in local alternatives or use affordable options like baking soda, vinegar, and natural ingredients. This is a much safer and affordable option.
Unnecessary kitchen gadgets
Avoid expensive kitchen gadgets for trends; opt for used ones instead. They’re cheaper and can save you money when needed.
Books (use the library or e-books)
Books are typically read a few times, so buying them is costly. Instead, borrow from the library or friends, and consider using budget-friendly e-books.
New video games (wait for sales or buy used)
If you love video games, wait for sales and discounts, or buy used ones to save money while still enjoying your passion.
High-end smartphones
Buying a new phone every year costs thousands of dollars. Instead of buying a new mobile every year, use the previous one for a long time until it needs to be fixed. Buy phones every 3-4 years and watch how your money is saved instantly.
Luxury handbags and accessories
Luxury handbags and accessories are a dream for many women, but buying them for every outfit can be expensive. While branded items may seem worthy, consider saving money by only purchasing necessary accessories during emergencies, not just for shopping sprees.
Impulse purchases at checkout
Resist the temptation to buy snacks at the checkout. Avoiding these impulse purchases can save you $10-$12 each time, forming a habit that keeps your spending in check.
Trendy diet supplements
Avoid trendy and costly diet supplements; they often don’t work as promised and only drain your wallet.
Conclusion
From fashion to lifestyle, from hygienic to trendy products, from expensive to low-cost maintenance, we discovered 25 things that could be dropped to save money and start living a simple life. All these changes can be challenging if done together. So, take your time and start removing them from your shopping list one by one. Be easy, take slow steps, stop using things individually, and wait for results. Saving money is difficult, but just starting to think in that direction is most important.
You can use Beem, the Super App to track your expenses, bills, and subscriptions with smart budgeting tools that help you keep a check on your expenditure.
FAQs
What can you use less to save money?
You should avoid spending money on things that are not absolute necessities and without which you can survive. For example, eating less food from outside, avoiding bottled water, and using limited streaming platforms can save you money. You can also share the subscription amount for streaming platforms and other memberships instead of buying one personally.
How can I reduce my money spending?
To reduce your spending, keep a close eye on how and where you spend your money. Set goals, set a monthly budget, and avoid buying things you do not require. Maintaining a budget is one of the best ways to keep track of your spending and thus limit your spending. Beem can help you track all your expenses, bills, and subscriptions in one place with smart budgeting tools to make life affordable for you and your loved ones.
What is the 10% rule for saving money?
The 10% rule states that you should save 10% of your monthly paycheck for your retirement or unexpected expenses such as medical emergencies, robbery, natural calamities, etc. For example, if you earn $1000 monthly, keep $100 in a savings account to meet future emergencies.
