14 Things we stopped paying for and saved more money.

Are you too looking for a way to save money?  We spend money  unnecessarily on easily overlooked purchases and late fees.  We became aware of certain small expenses, stopped paying for them, we save more money. 

You too can stop paying for the things that chip away at your money. Like Benjamin Franklin said, “beware of the little expenses, a small leak will sink a great ship.” 

Take control of your life and money, take a look at your bank statement you will realize you can save a few dollars here and there, put that amount towards your family’s priority.

Paying high prices for premium gasoline for your regular car will not make your car perform better. 

You are wasting money by paying high prices for premium gas unless you are using that for a car with higher compression ratio.  

With the modern engine engine technology in newer cars, even if the car’s manual recommends premium gasoline, the car might be slightly go slower if you do not use premium gasoline. 

Cut out extra fuel costs by switching to the lower octane options.

The average driver might not notice the difference.  

A high-end sports car, needs premium gas, but most cars do not need it to make them perform better because they will not run faster and cleaner. 

One of the easily overlooked purchases that can add up to big spending and hurt your budget over time is bottled water.

Good Morning America conducted a blind drinking water taste test with its studio audience. Audience members were served New York City tap water, Poland Spring and Evian bottled water.

New York City tap water was the winner. Yes tap water beat bottled water. Tap water is continually tested for contaminants, saves the environment, contains fluoride which strengthens our teeth. 

Instilling a water filter in your home is a good alternative to bottled water. It saves you money in the long run and is better option for the environment. 

Many people get trapped in credit card debt because they do not pay their credit card balance off in full on time. 

The credit card company charges high interest on your outstanding balance.

You could pay hundreds or thousands of dollars in interest payments every year, depending on your outstanding balance and APR on your credit card.

Private Mortgage Insurance (PMI) is a fee that home buyers do not necessarily need to pay. Simply save 15-20% down payment, your lender will not demand PMI.  

If you take out a mortgage for $ 400,000 for your mortgage and your PMI totals to 1% of that sum. You will pay around $4,000 annually in PMI.

PMI does not give any benefit or protection to home buyers. It only protects the lender is case the home buyer defaults/files bankruptcy.

Buying brand named food, costs you more money than buying generic or store versions of every brand-named food out there.

They are usually made by the same manufacturer and each version usually contains the same ingredients.

You can get brand items at cheaper prices, follow the store’s deals and coupons.

Milk and juices are produced regionally, it makes it cheaper to transport the products to the nearest consumer.

Fruits and vegetables usually taste the same whether they are generic or brand.

Seasoning, sugar, flour are usually the same whether you buy generic or brand.

Generic brands are required by law to meet the set standards before they are approved the consumption.

Paper towels & Disposable napkins

Instead of paper towels, you can cut up old towels to use as rags around the house. Opt for reusable napkins instead of disposable napkins.

Not only will you save money in the long run, you will contribute to saving the environment.

Presliced cheese, meats, chicken, fish is way more costly than un sliced. Prepacked salads and vegetables cost more than unpacked. It does not take a lot of time picking out your salads/greens.

Fabric softener, dryer sheets, and other stuff are not necessary. In fact the Allergy organizations around the world say that fabric softener can cause allergy among babies/children. 

Use dryer balls, they are cheaper, prevent static cling, they also reduce the cycle time saving electricity.

Set up automatic direct debit with your checking account to make sure that at least the minimum payment on your credit card payments, car payments, mortgage payment, rent are paid on time.

Late fees can result in bad credit report. A bad credit scores will affect your chances of buying a home or car when that time comes.

Overdraft protection has high interest rates attached to it. Carry extra cash or use a credit card to pay for unexpected expenses.  The banks charge overdraft fee with interest on the amount extended to customers.

If you are struggling with your budget, find things you can cut out or cut back on to save money. Put that amount towards your savings goals. Use cash from your savings for emergencies.

Your bank’s ATM should be free. Unfortunately, your bank may not have an ATM located where you live or work; withdrawing money from another bank’s ATM will cost you money.

For debit card transactions,  make free withdrawals from other banks that are in the same network as your bank. Save money, try out other alternatives out there.

Do you really need that monthly gym membership if you cannot commit to working out long term at the gym? 

Save money by canceling your expensive gym memberships. You can walk or run around  the neighborhood. You can also workout at home using free online videos.

 Business Insider conducted a survey of about 30 items, the difference between the cost of male and female version is huge. 

The so-called pink tax is insane. Shampoo, conditioner, razors, deodorants, dress pants and dress shirts, onesies for babies,  etc.   

The female version of the above products costs more than the male version.  Save money opt for the male version of products. 

 Outlet stores usually have a lot of stuff from baby to adult clothing, suit cases, shoes, bedding, toiletries, jewelry at up to 70%.

They are still good clothes, although out of season. However, you need good amount of time ( up to 3 hours)  to go through all the racks of clothes, especially when shopping for many family members.

Shop during holiday, clearance or end-of-season sales.  Use store coupons and discounted gift cards. You will save as much or more than at the outlet stores.

Take advantage of online and printable coupons, sales, deals, cashback and discount offers from major retailers like to save money on purchases throughout the year. 

Amazon.com, coupons.com, shopathome.com, and savings.com are some of the websites that offer coupons, sales and deals.

When you make a trip to your favorite grocery store at the last minute, you pay more money for things you could have bought at a lower price, had you checked the in-store coupons, deals and sales promotions earlier.

Avoid going to the grocery store when you are hungry, you spend money on overpriced junk food at the grocery store. Eat a meal or snack before you make a trip to the grocery store.

Do not let your emotions guide your purchasing decisions, it is easy to get caught up in the sales deals and spending madness, especially during the Winter holidays.

Create a budget for each category and stick to it so you can avoid impulse shopping.

If you are eating out for lunch every day, you are wasting thousands of dollars a year. If you eat and drink out occasionally, it is all right.

Start with weekly meal planning, an Instant Pot, makes healthy quick and cost effective meals.

Brew your own coffee at home, take it with you to work, you will save around $ 2,000 a year. There are various recipes  out there to choose from to make your own cold coffee.

Every time you make yourself a cold coffee at home, put aside $5 it is an eye opener, you will be amazed at how much you will save. 

When you are in a hurry, gas stations and MacDonald’s have equally good tasting coffee at a fraction of the price. 

You most likely do not watch all the tv channels that you pay for. 

Streaming is flexible, no registration fees, or annual contracts. 

You subscribe to only the shows/programs you prefer.  

 Test the different streaming services before finally committing to one. Canceling premium cable can be complicated especially if you are under contract for a certain period of time. 

 It is easier to sign up streaming services, then cancel without any penalty.

I would not waste money on a daily or weekly basis on lottery tickets and betting or gambling. Lottery tickets and betting do not offer a realistic chance of winning big.

You are not even taking calculated risks with them. Why wasting money on false hope? 

Put the money that you would have wasted on lottery tickets and betting if you did not buy lottery tickets and invest on betting into your savings jar or account. 

If you get speeding tickets and receive citations, you are wasting money. It does not help when you pay speeding tickets and parking citations for speeding on motorway and parking illegally.

Can you really save that much time anyway speeding on a motorway? Besides, your insurance rates can increase by 10%-15% if you have one speeding ticket.

There you have some of the things  that cost you hundreds of dollars every year. 

Share with us in the comments section below, the things you stopped paying for to save money. 

1 thought on “14 Things we stopped paying for and saved more money.”

  1. You’re right about many things. Buy generic groceries instead of name brand. Don’t buy premium gasoline.
    Eating lunch out everyday, and buying coffee every morning use to be my weakness.
    Thanks for the great tips.

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