57 Things You’re Wasting Money On: This Can Save You Thousands!

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I gotta’ say, I’ve wasted a lot of money in my life. I’m not proud of that, but I’ve learned and now I always try to save money when I can.

I also know how to avoid the things that cost me extra money. Something that’s taken years of experience for me to figure out. But I’m okay with that because it’s helped me learn how to save and optimize my expenses.

And now all of those years of bad purchases have been organized into one easy-to-read blog post. This post. So that you don’t have to learn the hard way and spend thousands of dollars just to find out the way that I did. Everything on this list, in one way or another, is a bad purchase AND will waste your money.

I won’t leave you hangin’ any longer. Let’s get to that list!

57 things you’re wasting money on: this list can save you thousands!

1. Fast food

Fast food prices have gotten out of control. As I’m writing this section, I decided to start my week off with a Chik Fil A lunch and instantly regretted my decision. The lunch cost me $12.51 and almost knocked me off my feet. If you’re struggling and need more money to pay off debt with, stop eating out completely. It’s usually unhealthy and can crush your budget.

2. Ordering take out delivery

Ordering take out is already expensive enough. Adding delivery charges and tip on top is just too expensive. I say cut it all out and save some money.

3. Soda at restaurants

If you do decide to go out to a restaurant, skip the soda and order water. Restaurants make A LOT of money off of the sodas that people order. It costs them cents per soda and they usually make dollars off of each cup. So skip the soda…you’re there for the food anyway.

4. Snacks at the gas station

Snacks at your local gas station can be WAY overpriced. Because of the convenience, everything in most gas stations is marked up pretty significantly. One example is the protein bar I like: it’s 2.99 at the BP near me. At Walmart, it’s $1.99. Or those delicious Albanese gummy bears. $2.99 at the BP or $2.29 at Food Lion. These snacks add up…believe me. So skip em’ because they’re costing you too much money.

5. Lottery tickets

Y’all…I hate lottery tickets. They’re a complete waste of money and you almost never win when you buy them. As the great Dave Ramsey says, they’re a “tax on poor people.” So stop buying them.

6. Cigarettes and vaping

If you’re still smoking cigarettes, it’s time to stop. Besides being incredibly bad for your health, which in time will cost you more money, they also cost $7+ plus dollars a pack. Vaping isn’t very smart either. It may be marketed as a “healthier” alternative, but it’s still expensive for custom vapes and vape juice. Plus, you’re pumping your body full of the chemicals from that vape juice. No thank you. I’ll keep my health AND my money.

7. Energy drinks

I’ll admit that fast food and energy drinks are my two vices that cost the most in my life. I did cut them out almost completely while I was getting out of debt. So there’s that. But those two things have slowly creeped back into my life as I became debt free. Though I still use discipline and limit myself with both of these. If you’re looking to free up money in your budget, cut out the energy drinks. You’ll be surprised how much extra money you have!

8. Expensive coffee

My wife is definitely guilty of buying expensive specialty coffee…but she’s not the only one. However, she is very frugal and we’ve agreed to a coffee budget (yes, and a fast food and energy drink budget, too). If you can, cut out the specialty coffees or limit them to once a week. That right there can save you $100+ plus dollars per month.

9. Bottled water

Bottled water is another huge waste of money. But this is the one expense on this list that I really won’t yell at you for. If you’re drinking your water out of packs of water bottles, yes you’re wasting money, but at least you’re drinking water. If you drink that much water, though, why not just get yourself a reusable water bottle? That’s what my wife and I have done and that saves us hundreds of dollars per year.

10. Alcohol at the bar

Alcohol can be an absolute budget killer. Because just buying at the liquor store is expensive. If you go out to the bar every weekend, your tab can easily be $50-100 dollars depending what kind of drinks you get. I know alcohol can be fun, but do yourself a favor, stop drinking alcohol all together and live without it. It’s not good for your health, it makes you lazy, and it’s expensive.

11. New cars

If you’re the person who always has to have a new car, you’re making yourself broke. Car companies and dealerships make A LOT of money off of brand new cars and some consumers go all out for their vehicle. New cars lose the majority of their value in the first couple of years, so unless you’re a millionaire, you can’t afford to buy new vehicles and take such a big hit on the value of the car. If you need a vehicle, stick with a 2-4 year old gently used Toyota or Honda. Those keep their value and last a long time.

12. Car washing and detailing services

Car washes and detailing services can be extremely convenient, but they’re often marked way up for the convenience they provide you. The majority of the time, if it’s a touchless car wash, those places do a horrible job with the actual car wash. I hate that and having to spend that $10 bucks when I can do a better job myself at home. I know it takes extra time but save your money and do it yourself!

13. Simple car repairs

Now I’ll admit that I often take my vehicles to get the services done by a mechanic because I just don’t have the time to do this on top of everything else. But there are a few services that you can do at home for way less than what the dealer or mechanic costs. If the fix is only a few minutes, I may do it myself. But I get oil changes, tire rotations, and alignments done at the mechanic. If you really wanted to save money, you could do the oil changes and tire rotations yourself.

14. Gasoline

Now obviously you’ve got to have gas in your car to drive. I understand that. But as gas continues to increase in price, way too many people are just accepting the price and not trying to take advantage of anything that can help lower your gas bill. I mean, there are tons of ways that can help save you money at the gas pump.

If you’d like to learn all of the ways, check out this post here on the site: “27 Awesome Ways to Save Money at the Gas Pump [The Guide]”

15. Big homes

Big homes are a horrible waste of money. Big homes have higher property taxes, more utility expenses, and have bigger mortgages. Don’t get a huge house because you don’t need it. Get a decent, quality place with enough bedrooms for you and your family. Big houses are just overrated at this point.

16. Utilities

Just like gasoline, you will inevitably have utility bills as well. But that doesn’t mean you can’t save tons of money every year on those utility bills. Don’t settle for high utility costs every year. Do something about it and cut those costs.

For awesome utility savings, check out this post here on the site: “The Complete Guide to Saving Money on Your Utility Bills: 57 Easy Tips”

17. Fancy vacations

Just like big houses, fancy vacations are also super overrated. Don’t get me wrong, because later in life, I fully plan on taking some of them. In the meantime, my family will be taking beach vacations and other quality family vacations while we work to stay out of debt and build wealth. These might not sound like the ridiculously elaborate vacations that some people take that cost thousands, but my family is perfectly happy with the yearly vacations we plan and pay for with cash. Don’t borrow money for insane vacations. Pay cash so you don’t have to pay for it for the rest of the year.

18. Extended warranties

Extended warranties are an insanely terrible waste of money. Believe me, these companies DO NOT lose money on extended warranties. They know how much stuff actually breaks and they make a lot from that $19.99 extended warranty they just sold you. Some companies make more off of extended warranties than the actual products!!

19. Fancy jewelry

Nobody needs fancy jewelry that costs thousands of dollars. Yes, decent jewelry paid for with cash is fine. But if you have to finance it, you can’t afford it.

20. The latest tech gadgets

This one hits a lot of people, including myself, because technology is awesome. But you don’t ALWAYS need the latest and greatest tech gadgets all the time. If you want something awesome, save up and pay cash for it instead of financing it or putting it on a payment plan. And use it for as long as you can. Modern TVs, gaming consoles, phones, and other tech can last for years these days without the need for replacement.

21. Video games

Video games can be a tremendous waste of money. They can also be a way to save money. It depends on your individual gaming habits. If you buy a bunch of new games every month, this can cost you a lot of money. Most consoles these days now have a monthly membership that you can buy and play all the games you want for a fraction of the price. Whatever you do, be careful with video games. Because they can cost you a lot of money if you’re not paying attention to the costs.

22. Video game In-game purchases

Modern video games are really sneaky with their in-app purchases. Some games, like Fortnite and Call of Duty, offer the game for free. They make their millions of dollars from all of the in-game purchases like character outfit skins and gun camouflage skins. The cost might not seem like much until you’ve bought a bunch of different skins and run your bill up. Skip these purchases and just play the game for free.

23. Grocery shopping

Just like gasoline and utilities, groceries are a necessity in life. But with recent inflation causing huge price increases, the grocery bill has gotten pretty outrageous. But that doesn’t mean we just go along with it! Check out this guide I wrote, “47 Tips and Tricks for Saving Money at the Grocery Store,” to save yourself a little bit of money on your groceries going forward.

24. Couponing (for the hell of it)

Couponing could be a great way to save a few dollars while you’re shopping. And there are coupons for a lot of stuff – food, cleaning products, nutritional supplements, and much more. But the problem is that some people buy stuff just because they have a coupon for it. Don’t buy it just because. If you need it, AND you have a coupon, use that coupon to save money. If you don’t need it, don’t buy it.

25. Pre-sliced or individually wrapped packaged foods

Buying pre-sliced or individually wrapped packaged foods is a huge waste of money. Again, you’re paying for convenience instead of buying the food in bigger quantities and prepping it down into the packaged food quantity.

Fruit is a great example of this. If you buy a small container of cut fruit, it’s like a few dollars for only a couple of small pieces. If you bought all of that fruit whole, then cut it yourself, it would be cheaper per container. Stop paying for prepackaged foods. They’re more expensive.

26. Food waste

Leftovers are a really great way to save money. But if you waste your leftovers, you’re not only losing the money you could’ve saved, but losing the money you spent on that food at the grocery store. Now I get that it’s tough to always eat all of the leftover food, but just do the best you can to not waste.

27. Paper towels, plastic utensils, and paper plates

I’ve been guilty of this before, but have gotten better about it. Paper towels, plastic utensils, and paper plates can be insanely expensive if you’re not careful. Just don’t buy this stuff. You already have plates and utensils. If you don’t, get some. And paper towels are unnecessary if you just buy a few dish towels. I know these are easy, but save your money!

28. Disposable razors (if you shave a lot)

If you shave a lot, it’s time to invest in a nice razor that looks good and lasts for years. Disposable blades can cost $30 dollars or more for a pack. And that pack might only last you a month or two. Whereas, a decent razor will cost you about $60-80 dollars and be good for a long time.

29. Personal care products (that don’t work)

Let’s be honest. Half the personal care crap that’s sold to us doesn’t even work. Face lifting, blackhead removing, wrinkle reducing crap. It costs too much and it’s putting way too many chemicals on your body. Nope, not for me.

30. Cleaning products

Cleaning products aren’t a horrible purchase, because they obviously help you clean. But they are ridiculously expensive and prices just keep getting higher and higher. Instead, why not try making your own DIY cleaning products at home? You probably have all the products at home anyways.

This video here on the Clean My Space YouTube channel is great and features 19 DIY cleaning product ideas.

31. Dryer sheets

Dryer sheets are just another thing that wastes your hard-earned money. They’re expensive and filled with chemicals. We decided to switch to dryer balls and use essential oils for the scent.

32. Brand name clothing

Brand name clothing can be a huge waste if you buy it from the brand’s official store or new from anywhere else. Look to buy your clothes from goodwill or consignment shops at a fraction of the price. If you want new, find sales at Target or decent quality clothes at Walmart.

33. Fashion clothing

Fashion clothing is just a terrible buy. Like 99% of fashion clothing looks ridiculous and none of it is actually practical for everyday life. So stop buying it. It’s a waste of money because no one really cares what you look like.

34. Cable TV

If you still have cable TV, it’s got to go. You’re wasting A LOT of money by making the cable companies rich. Instead of cable, just pick up one or two streaming subscriptions and cut the cord for good. We did this about 5 years ago and we’ve saved almost $100 per month ever since.

35. Other memberships of subscriptions you don’t use

But be careful with your streaming and other monthly subscription services. Because you CAN have too many. If you have 10-15+ plus subscriptions per month, you may as well have kept the cable TV with all of those channels. I’d say you should have no more than 3-4 streaming services (unless internet or phone providers offer them for free or you can hop on with family). We have about 6-7 different streaming services but only have to pay for 2 of them.

36. Gym membership (if you don’t use it)

Now first let me say that I’m a HUGE advocate of the gym. I go 4-5 times per week and weight-lift because I love the stress relief. So if you use your membership frequently, keep it! It will only help your health in the long run.

But if you have a gym membership just to make yourself feel good, you are wasting a lot of money every year! $30 dollars per month is $360 dollars per year that can be more effectively used elsewhere in your finances. So if you don’t use it, lose it, and save yourself some cash.

37. Overpaying on insurances

Insurance is like toilet paper – you hate to buy it but you have to have it. First, make sure you actually need all of the insurances that you’re signed up for. Once you do that, check to see if you’re overpaying for them! A lot of people don’t realize that insurance is just insurance. Tons of companies offer the same exact product, so find the cheapest plan available to you. If you’d like to check to see if you can save on insurance, head here to Zander Insurance’s website and get a broker to help you find a better deal (not an affiliate link).

38. Paying for insurances you don’t need

Like I said earlier, there are many insurances that you just don’t need. One example of this is life insurance if you’re single. If you have no debt and a fully-funded 3-6 month emergency fund, that’s all you would need for funeral expenses. Life insurance isn’t necessary until someone is dependent on you and your income. Disability when you’re 21 years old most likely isn’t necessary either. So take a look at all of your insurances and make sure you actually need them. Otherwise, cancel them and save the money.

39. Bank fees

Be careful where you’re banking. A lot of big chain, multi-branch banks charge a lot of fees with their normal checking and savings accounts. These would include minimum required amount in the account for a savings account and minimum direct deposit amounts for checking accounts. I ditched my old bank and went with our state credit union instead. Local credit unions and military banks are great options if you’re able to open accounts with them.

40. ATM fees

ATM fees can really add up if you’re constantly withdrawing money from other banks’ ATM machines. These fees are only a couple of bucks but are just pointless to pay. Use your bank’s ATM machine, get cash well in advance from your actual bank, or use your debit card. That’s easy and doesn’t waste your money.

41. Credit card interest

If you’re getting charged credit card interest, you are getting scammed out of a lot of money. There’s no need to pay with your credit card when you can just pay cash for stuff. And if you have to pay with a credit card because you don’t have the money for it, YOU CAN’T AFFORD IT. So stop wasting dollars on credit card interest when you work hard enough to pay for stuff in cash.

For more on why I hate credit cards, check out this post: “37 Reasons Why Credit Cards are Bad (and Ruining Your Life!)“

42. Refinancing your home

Refinancing your home again and again for cash-out refinances and lower monthly payments can be a HUGE waste of money. Taking cash out of your equity is just plain stupid and can be causing more risk because you owe more on your home when you do this. You want to BUILD equity, not take it away.

On top of that cash you’re taking out, and the risk of losing equity, you will also be paying closing costs that will usually cost you a couple thousand dollars EVERY TIME YOU REFINANCE.

Lastly, if you refinance from a 30-year mortgage to another 30-year mortgage, you’re starting that 30 years all over again. Plus, the 30-year mortgage is the most expensive mortgage and can cost you hundreds of thousands of dollars in interest over the years.

Refinancing is only good if you refinance from a 30-year mortgage down to a 15-year mortgage and get a better interest rate.

43. Buying products that are too cheap

This is something I’ve had to deal with throughout my life. I’m super frugal so I’m always looking to save a buck here or there. But that can sometimes cause you to forget about quality and focus only on price. And that leads to cheap stuff that doesn’t last. Sometimes you have to find stuff that is decent quality AND at a good price. Don’t buy products that are too cheap because they might just be a waste of money.

44. Buying too much in bulk

Buying in bulk can be a great way to save money long term. But buying in bulk can be bad if you just continuously bulk buy and you end up buying too much in bulk. It’s okay to bulk buy a few things that you’ve run out of. But if you see like 47 things at Costco that you might use and you justify it as “a really great bulk buy,” you’re going to lose a lot of money. Don’t waste. Only bulk buy what you need.

45. Sale items you don’t need

I have multiple friends who always get trapped into the “wow, it’s a really great deal, so I have to buy it” mindset. Just because something is on sale, it doesn’t mean that you should buy it. There are some things that just aren’t a necessity in your life and this can be bad.

Here’s one fine example: now I love guns. But I know that I almost never NEED to buy them. Occasionally I’ll get one and pay cash for it. But I have a friend who is a fanatic. We were at Gander Mountain and he saw a beautiful Glock 19 behind the glass. After talking with the clerk, he was talked into buying it because it was “such a great deal,” and he “couldn’t pass it up.”

So the salesperson gave him a “blue line” law enforcement discount and a 5% discount on top for opening up the Gander Mountain credit card. He has like 20 guns but just couldn’t pass up the deal. Don’t be like that. Just because something is on sale, it doesn’t mean you have to have it. Sometimes it’s just a waste of money.

46. Impulse purchases

So those sale items above qualify for this section. But impulse purchases are also huge wastes of your hard-earned money. Impulse purchases are purchases that are made without thinking about them. You go to the store, see something you like, and you buy it. If you aren’t disciplined at all, you’re going to be a victim of your own impulse purchases. I know you may like buying stuff. But grow up. It’s time to tell yourself, “NO!” because impulse purchases will make you broke.

47. Emotional spending

Emotional spending is another thing that can absolutely destroy your finances. If this is you, and you spend when you’re stressed, it’s time to find a new activity or hobby that will help you get through those stressful times in your life. Some people, like myself, go to the gym and workout. Other people, like my wife, get a coffee. Do whatever you can to avoid emotional spending on expensive stuff because you’re just wasting your money.

48. Purchases with financing

If you’re in the habit of always purchasing things with financing, you’re inevitably going to be paying extra in interest. And if it’s “0% percent interest” financing, you don’t even need to finance it! Just save up and pay for it in cash. If you have to finance it, you can’t afford it.

49. Disorganization

I know that this one has cost me hundreds of dollars over the years. Disorganization in your life can easily cause you to lose things that you own, which usually ends up costing you money. Don’t waste. Make sure that you stay organized.

50. Paying for things that you can do yourself

If you’re currently in the business of paying for things that you can do yourself, like lawn care or house cleaning services, you’ve got to stop wasting money. Those trivial tasks could be costing you hundreds or even thousands of dollars.

51. Anything that can be DIY made

If you can somehow DIY make it instead of buying it, it might be worth your time.

52. Repairs that can be DIY completed

There are a lot of repairs in your home, on your car, or just in everyday daily life that can be done yourself. Quit wasting the money and just YouTube how to fix it.

53. Paying for convenience

I know that it’s easy to pay for convenience. And sometimes convenience is awesome. I get it. But convenience is usually expensive. We’ve talked about a bunch of things on this list that are complete wastes of money just because of the convenience – from fast food to cleaning products and a lot more. Sometimes, to save your hard-earned money, you have to do things the inconvenient way and stop throwing your money down the drain.

54. Anything at retail price

It’s easy to just buy stuff at retail price. You don’t have to coupon, wait for sales, or look for discounts. But not finding deals on the stuff you buy could be costing you a fortune in extra money spent. So I challenge you to try and find a deal on every single thing you buy. You may not get everything on sale, but you will inevitably get deals on a lot of different things if you just put in a little bit of effort.

55. Items not in the budget

In our house, the budget is set in stone. Anything extra added in has to be agreed on by both my wife and I. If something is not in the budget, it’s usually going to be a waste of money. Everything you buy needs to be in your budget or it doesn’t get bought.

56. Keeping up with the Joneses

You know the Joneses. They’re the family that has it all: a big house, nice cars, fancy tech gadgets, and a HUGE TV. They look rich but they’re not. This family is broke. So don’t aspire to be like them. People who try to keep up with the Joneses often find themselves broke and in debt. And that’s a huge waste of money.

57. Debt

If you have debt hanging around your neck, in any form or fashion, you’re wasting your hard-earned dollars. I hate debt because it robs you of your money and steals away from your financial future. Debt sucks. So if you’ve let it hang around this long, it’s officially time to crush it and move on. You have to stop the borrowing. If this is you, check out the following two posts below and get rid of your debt for good:

“How to Stop Borrowing Money: 10 Step Guide to a Debt Free Life”

“47 Creative Ways to Pay Off Debt This Year”

It’s your money…keep it!

So hopefully you’ve gotten at least a little bit of good information out of this post. I mean, you and I work hard for our money. So why waste it away on stupid purchases and things that waste that hard-earned money away? It’s YOUR money. Don’t buy any of the stuff on this list so that you can keep more of it!