When you’re living paycheck to paycheck, every dollar counts, and it’s important to cut back on the things you don’t really need. But don’t worry, because it doesn’t have to be as difficult as it sounds. Here are 25 things you might want to stop spending on if you’re in a difficult financial position, which could end up saving you more than you might think.
Pointless Gym Membership
Unless you’re going regularly, there’s no point in having a gym membership that is just sitting there. You can get active for less, or even free, by jogging in the park or watching workout videos online. If you want that sense of doing a group activity, then try some community fitness classes so you’ll feel good about saving and staying fit.
High-Interest Credit Cards
If you’re not careful, credit cards can be a money trap, especially with those high-interest rates eating into your budget. You should always pay with cash or use debit cards whenever you can and leave your credit cards for when you absolutely need them. Pay off your credit card balance whenever you can, and try to only use it if you can pay off the balance in full next month.
Unused Subscriptions
Around 48% of us have forgotten to cancel a service before the trial ended, so check your bank statements for any you forgot about or don’t use. There might be quite a few magazines or streaming services left on there that you’re not getting your money’s worth from. If that’s the case, cancel them and watch as those savings start to pile up.
Impulse Buys
Shopping on impulse, especially when you’re stressed or excited, can lead to you buying things you’ll later regret. Only go shopping once you’ve eaten a full meal, then make a shopping list and stick to it. If you see something you want, wait a day or two to see if you still need it. If you do, then it’s a thoughtful purchase, not an impulse buy.
Luxury Skincare Products
Those high-end skincare products might do wonders for your skincare routine, but they’re terrible for your wallet. Before you end up wasting your money, check the reviews to see if you can find a cheaper alternative that’ll do the same job. You could get something just as good for a fraction of the price.
Expensive Hobbies
Doing a hobby is a great way to reduce your stress, but if it’s a pricey one, it could end up causing you more headaches. Look for ways to enjoy doing what you love without breaking the bank, like buying used equipment or taking part in community groups with discounts. Enjoying the things you love doesn’t have to cost a fortune.
Frequent Salon Visits
There’s no need to visit the salon every few weeks, and if you are, it’s time to stretch out those visits. You could try delaying the time between each appointment or even watch some videos to teach you how to do some touch-ups at home. If you’re determined to go, try going to a trainee hairdresser, as they’ll usually be a little cheaper.
High Smartphone Data Plans
Check how much data you’re actually using on your smartphone because you might be paying for less than you need. If you’re always under your limit, you might want to switch to something cheaper that will give you what you need. Just make sure you’ve got enough otherwise, you might be paying for extra fees.
Overdraft Protections
Those overdraft fees are no joke. But instead of paying for overdraft protection, try to keep a buffer in your account so you can avoid those fees altogether. Think of it like an insurance policy that you’ll be able to manage yourself, just without the extra cost of actually getting one.
Excess Banking Fees
Speaking of the bank, lots of them love to charge for transfers or use ATMs outside their network. Check your account options and switch to plans with lower fees, or only use your bank’s ATM. You could also see if your bank has a fee rebate or loyalty programs to reduce your fees.
Seasonal Decorations
Decorating for every season and holiday can be fun, but the costs add up quickly. Instead of buying new decorations, why not reuse old ones or buy them after the holidays when they’re on sale? You could also try swapping your decor with your friends or family and put a unique spin on their decorations.
Manicured Lawns
Paying to get professional lawn care looks pretty, but it’s hard on your budget. Try mowing your own lawn or choosing low-maintenance plants that won’t need a lot of care. This way, you’ll be able to keep your yard looking good for less. You should also group plants that need the same amount of water together so you’ll reduce your water bill.
Luxury Bedding
Luxury bedding brands can be a little over-the-top, so don’t pay more than you need to for comfortable bedding. Look for some sales or mid-priced brands that’ll give you the same sense of comfort, just without the luxury markup. Better still, try using mix-and-match linens because high thread counts don’t have to mean a high budget.
Exotic Pets
There’s no denying that some exotic pets can be great, although the costs of looking after them aren’t always so nice. Stick to something easier and cheaper to take care of because you’ll save yourself a lot of headaches. If you’ve already got one, look for budget-friendly supplies online or join a group to swap tips and supplies with other owners.
Car Washes
Washing your car at home can save you a bunch of cash over time, even if it does take a little bit more effort. Doing it yourself means you’ll be able to spot any issues before they become big problems, which will save you in the long run. Stick to eco-friendly soaps and polishes to protect both your car and the environment.
Late Payments
Those late payment fees are annoying, and they’re also draining your funds for no reason. Set up reminders on your phone or try to use automatic payments whenever you can. If you keep everything on time, you’ll be able to keep your money where it belongs, which is in your pocket.
Fast Fashion
Buying cheap clothes might make you feel like you’re saving money, but you’re actually spending a lot more than you think. Cheaper clothes tend to be of a lower quality, which means they’ll wear out faster, and you’ll have to shop more often. Instead, try buying a few quality pieces that’ll last longer, so you’re not replacing them every month.
Inefficient Energy
Old appliances or drafty windows can hike up your energy bills by more than you might think. You should stick to energy-efficient products or, better yet, think about making some home improvements, like sealing your windows, to save some cash. You could also try switching to LED bulbs and smart thermostats to cut down your utility bills.
Costly Cleaning Supplies
Although the advertisements might tell you something different, you don’t need a cabinet full of specialized cleaning products because you can make your own. All you’ll need is a few simple ingredients like vinegar and baking soda, which will help you clean for a fraction of the cost. Plus, these natural alternatives are better for your health and the environment.
Too Much Takeout
While takeout might be pretty convenient, cooking at home is a lot cheaper. Plan your meals for the week and prep in advance so you can resist the temptation of ordering out. If you cook large portions of food, you should have enough to make some delicious leftovers for lunch, which will save you even more during the week.
Buying New Instead of Used
It doesn’t matter if it’s clothes or furniture because buying new is an easy way to overspend when you don’t need to. Thrift stores and online marketplaces are the perfect places to find some lightly used items at a much lower cost. You might even find some pretty unique pieces with a history you can’t find in a retail store.
Overpriced Insurance
Of course, having insurance is important, but overpaying for it really isn’t. Whenever your insurance is up for renewal, ask your current provider for any discounts you might qualify for, or shop around for some better rates. There’s no point sticking to the same one if they’re not giving you some kind of benefit.
Fancy Office Supplies
Those designer office supplies definitely look great, but think about what you actually need. There are so many generic brands out there that’ll give you the same quality for a lot less. You should also stock up during back-to-school sales, as even if you haven’t got kids, you could get some pretty good discounts.
Premium Apps
Don’t be fooled into thinking you’ve got to get a paid app instead of a free one. They can save you quite a bit each year. If you’re dead set on getting that paid one, make sure you take advantage of the trial period so you’ll know if you actually need it before parting prematurely with your cash.
Expensive Coffee Pods
18 Things You Should Probably Stop Doing After Age 50
18 Things You Should Probably Stop Doing After Age 50
19 Products Marketed Almost Exclusively To Stupid People
19 Products Marketed Almost Exclusively To Stupid People
No Boomers Allowed: 15 States Where Retirees Are Not Welcome
No Boomers Allowed: 15 States Where Retirees Are Not Welcome
18 Disturbing Conspiracy Theories You Laughed Off But Were Actually True
18 Disturbing Conspiracy Theories You Laughed Off But Were Actually True
18 Everyday Phrases Unintentionally Reflecting White Privilege
18 Everyday Phrases Unintentionally Reflecting White Privilege