1. Gym memberships
Big ambitions and New Years resolutions right? Sure you thought you'd get up and go work out at 5am before starting your day, but then reality hit, sleeping in wins. Why spend money on a gym membership when you can exercise for free? Take a brisk morning walk around the block, or buy a workout DVD and get your cardio in your living room.
Big ambitions and New Years resolutions right? Sure you thought you'd get up and go work out at 5am before starting your day, but then reality hit, sleeping in wins. Why spend money on a gym membership when you can exercise for free? Take a brisk morning walk around the block, or buy a workout DVD and get your cardio in your living room.
2. Travel size items
Anything in a small package seems to draw us to it. Whether it is the cuteness or the convenience I'm not sure but small packaging is absolute marketing genius! Save your dollars by repackaging your own products in reusable (and still conveniently small) travel size bottles. A set of four refillable bottles will cost just 1-2$ compared to the 1.50 per item if you purchase travel size bottles with the products already in them.
3. Expensive garbage bags
Why people buy expensive garbage bags escapes me. The reason pricy garbage bags exist in the first place escapes me...but it must be because someone is willing to buy those money wasting bags. The purpose of garbage bags is garbage, you put garbage in, tie off the bag, toss it out to the curb. The garbage collectors don't care how fancy your garbage bags are. It doesn't benefit the landfills in any way to use pricy bags. Save your money here and go for the store brand or least expensive otherwise it's like throwing your money out with the trash.
4. Renting modems or routers
Internet providers make it so convenient to rent these two items (as well as others) because renting modems and routers creates big profits for them. It seems like a small price to pay and you may not know what items to purchase yourself. The 8-10$ they will bill you each month though will add up quickly that over years will end up costing you hundreds of dollars. Routers can be purchased for as little as 35$ and modems cost as little as 50$. You can find out what kind of devices you need to run your internet from your provider making the purchase an easy one.
5. Credit card interest
With interest rates averaging 15.75% on credit cards making them one of the most expensive debts you can take on. If you have credit cards you are best to pay it off. Consumers who pay the balance on their credit cards on time every month can ignore APRs. As long as you don't owe any revolving debt, you won't have to pay any interest.
6. ATM fees
Planning ahead will help you to avoid paying to get your money out of the bank. After all just think about that for a second... Paying to get your money from the bank... Doesn't sound right does it? Essentially that is what you are doing when you pay ATM fees. Usage fees for ATM withdrawals at a machine that isn't your banks can cost 5$ per withdrawal plus the ATM operator may charge an access fee. Plan ahead, make a withdrawal from your banks ATM machine or teller to avoid fees.
7. Extended warranty on electronics and appliances
You finally found it! You did the research for the perfect TV for a terrific price, and then you go to the store to buy it. Ready to pay for your deal of a lifetime, the sales person suddenly presents you with a terrible scenario… what happens if your deal of a lifetime TV breaks? Good thing that sales person has the solution – if you just pay an extra 50$ now, then you’re covered. But did you know that the failure rate is incredibly low? Only a small fraction of that 50$ extended warranty is going towards insuring the product. A larger portion is pocketed by the underwriter and a nice commission is paid to the sales person. You are better off to not buy the extended warranty, and self-insure all of your electronics and appliances.
Anything in a small package seems to draw us to it. Whether it is the cuteness or the convenience I'm not sure but small packaging is absolute marketing genius! Save your dollars by repackaging your own products in reusable (and still conveniently small) travel size bottles. A set of four refillable bottles will cost just 1-2$ compared to the 1.50 per item if you purchase travel size bottles with the products already in them.
3. Expensive garbage bags
Why people buy expensive garbage bags escapes me. The reason pricy garbage bags exist in the first place escapes me...but it must be because someone is willing to buy those money wasting bags. The purpose of garbage bags is garbage, you put garbage in, tie off the bag, toss it out to the curb. The garbage collectors don't care how fancy your garbage bags are. It doesn't benefit the landfills in any way to use pricy bags. Save your money here and go for the store brand or least expensive otherwise it's like throwing your money out with the trash.
4. Renting modems or routers
Internet providers make it so convenient to rent these two items (as well as others) because renting modems and routers creates big profits for them. It seems like a small price to pay and you may not know what items to purchase yourself. The 8-10$ they will bill you each month though will add up quickly that over years will end up costing you hundreds of dollars. Routers can be purchased for as little as 35$ and modems cost as little as 50$. You can find out what kind of devices you need to run your internet from your provider making the purchase an easy one.
5. Credit card interest
With interest rates averaging 15.75% on credit cards making them one of the most expensive debts you can take on. If you have credit cards you are best to pay it off. Consumers who pay the balance on their credit cards on time every month can ignore APRs. As long as you don't owe any revolving debt, you won't have to pay any interest.
6. ATM fees
Planning ahead will help you to avoid paying to get your money out of the bank. After all just think about that for a second... Paying to get your money from the bank... Doesn't sound right does it? Essentially that is what you are doing when you pay ATM fees. Usage fees for ATM withdrawals at a machine that isn't your banks can cost 5$ per withdrawal plus the ATM operator may charge an access fee. Plan ahead, make a withdrawal from your banks ATM machine or teller to avoid fees.
7. Extended warranty on electronics and appliances
You finally found it! You did the research for the perfect TV for a terrific price, and then you go to the store to buy it. Ready to pay for your deal of a lifetime, the sales person suddenly presents you with a terrible scenario… what happens if your deal of a lifetime TV breaks? Good thing that sales person has the solution – if you just pay an extra 50$ now, then you’re covered. But did you know that the failure rate is incredibly low? Only a small fraction of that 50$ extended warranty is going towards insuring the product. A larger portion is pocketed by the underwriter and a nice commission is paid to the sales person. You are better off to not buy the extended warranty, and self-insure all of your electronics and appliances.
