If you haven’t taken the time to reevaluate how you’re spending your money each month, there’s no better time than the present!
In today’s digitally-connected and increasingly consumer-driven world, we have more access to information, entertainment and money-saving opportunities than ever before — and still, so many people continue to overspend on so many things.
And there are a couple of reasons why.
RELATED: How to get your budget back on track
Reevaluate your spending habits
One is being a creature of habit. If you’ve been paying the same bills and buying the same products for years, it may be time to switch things up — your routine may be costing you a lot more now than it did in the past. Here are 7 easy ways to cut your monthly bills.
And just as saving has gotten more convenient, so have shopping and spending — and jumping on to the latest trend could be another habit that’s breaking your budget.
So to help you avoid unnecessary spending, here are three things you should never buy again.
Don’t buy these money-wasters!
1. Expensive razors
First of all if you’re a woman, don’t waste your money on women’s razors — you’re just paying more for the same product that’s available with a “men’s” label. Second, if you’re looking to save big over time, you should really ditch fancy razors altogether.
A disposable razor can actually last you as long as a year — and all you have to do is dry it off after each use! Here’s more on the best drying methods to make a razor last longer.
If you don’t want to fool with it, check out a service called the Dollar Shave Club. This razor club for men and women will put you on a monthly, low-cost subscription plan and send you a new razor each month — allowing you to spend less and avoid having to deal with drying off the blade.
2. Bottled water
Your bottled water habit could be costing you up to thousands of dollars a year. You may not realize it, but those small purchases add up to big bucks over time. And in fact, someone who buys a $1 bottle of water every day will end up spending 700 times what they would if they stuck to tap water.
Plus, about half of all bottled water is just filtered tap water.
But if bottled water is something you just have to have, then check out these ways to save on it.
3. Credit monitoring service
Credit monitoring essentially puts fraud alerts on your credit files with the three main credit bureaus. These alerts are meant to raise a flag to potential creditors, alerting them to carefully verify an applicant’s identity before extending credit. But very often these alerts are ignored — so it can end up being a big waste of money.
A better alternative is to do a credit freeze, which will cost you only between zero and $10 per credit bureau. A credit freeze allows you to seal your credit reports so no new applications for credit can be initiated in your name without your knowledge. And if you still want credit monitoring, here’s how to get it for free.