10 Things on Which to Never Spend Money

There are so many good things on which to spend money. Here’s a list of things to avoid!

Extendend Warranties: Just say no. Extended warranties are a numbers game, and those numbers favor the seller. If you are really that concerned that your new purchase is going to break then you shouldn’t be buying it. Save your money. If you want to have some fun when the clerk asks you if you would like the warranty respond by asking “Why, is this product no good? Is it going to break? Oh well, maybe I shouldn’t buy it at all then.”

Checking Accounts: If you are paying for your checking account please stop right now. Know the rules you need to play by to keep your checking account free. If you can’t do it, change banks. There are plenty of banks that offer truly free checking. Find one.

Anything a telemarketer is selling: A great rule of thumb is that if they approach you then you shouldn’t buy it. No matter how good the deal is if you didn’t go looking for it then you probably shouldn’t buy it. If you really feel you must have whatever they are selling get a number to call them back and do some research first. If they won’t let you think about then that is a huge red flag. Hang up!

Late fees: There is no excuse to paying late fees. If you are paying these fees please take some time this month and get organized. If you have bills that are due at weird times of the month and this is throwing you off then you need a budget and an emergency fund. A couple of hundred dollars in the bank will save you from ever having to pay another late fee.

Vanity Plates: It’s expensive enough to drive these days. Keep a bit of your money out of the state’s hands by going with standard license plates. Express yourself with a $2 sticker.

Your Own Money: ATM fees, rapid refunds, settlement consolidations, ect. There are a lot of ways to pay for access to your own money. Don’t do it. Plan your cash needs ahead so you don’t have to use a fee laden ATM. Wait those extra few weeks for your tax return. And those settlement consolidations companies (“It’s my money and I need it now!”) are to be avoided. Don’t pay for your own money!

The 1st Generation of Anything Electronic: Skip the newest of anything that comes out. There will be bugs and you will over pay. Let them work out the kinks on someone else’s dollar. In a few months you will spend less on a better version.

Name Brand OTC Medication: The rules governing medications are so strict that the generic version is just as good. You are paying for the emotional comfort they created in their advertising. Go generic to save a couple bucks and buy something that is truly comforting, like ice cream.

Car Washes: The place down the street from me charges $25 for a car wash. $25! And there is always a line. For $5 in quarters I can wash both my cars in the do-it-yourself stall type car wash around the corner. For the cost of a couple of squirts of soap and a bucket of water I can wash them in my driveway. Put that extra money in the tank instead.

New Books, Movies, or Video Games: There are so many options for buying used media. Most books get read once and the sit on a shelf. And most people take good care of their movies and video games. Video games especially. A lot of people buy video games with the full intention of selling them when they are through. Do your wallet a favor and buy these items used.

Have you spent money on any of these things? I know I have. In fact, I think I’ve spent money on all but two things on this list. Do you have anything to add to my list?

About Ashley

12 Responses to “10 Things on Which to Never Spend Money”

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  1. blackwax says:

    Extendend Warranties: Just say no. Extended warranties are a numbers game, and those numbers favor the seller. If you are really that concerned that your new purchase is going to break then you shouldn’t be buying it. Save your money. If you want to have some fun when the clerk asks you if you would like the warranty respond by asking “Why, is this product no good? Is it going to break? Oh well, maybe I shouldn’t buy it at all then.”

    [blackwax] DISAGREE. When my fuel pump went out, the dealership fixed it. (of course, I think they broken something else in the process.)

    Checking Accounts: If you are paying for your checking account please stop right now. Know the rules you need to play by to keep your checking account free. If you can’t do it, change banks. There are plenty of banks that offer truly free checking. Find one.

    [blackwax] AGREE

    Anything a telemarketer is selling: A great rule of thumb is that if they approach you then you shouldn’t buy it. No matter how good the deal is if you didn’t go looking for it then you probably shouldn’t buy it. If you really feel you must have whatever they are selling get a number to call them back and do some research first. If they won’t let you think about then that is a huge red flag. Hang up!

    [blackwax] AGREE

    Late fees: There is no excuse to paying late fees. If you are paying these fees please take some time this month and get organized. If you have bills that are due at weird times of the month and this is throwing you off then you need a budget and an emergency fund. A couple of hundred dollars in the bank will save you from ever having to pay another late fee.

    [blackwax] AGREE. although it’s a lesser of 2 evils when you could be hit with late fees on top of bank fees.

    Vanity Plates: It’s expensive enough to drive these days. Keep a bit of your money out of the state’s hands by going with standard license plates. Express yourself with a $2 sticker.

    [blackwax] DISAGREE. If you can afford it, I don’t see a problem with it.

    Your Own Money: ATM fees, rapid refunds, settlement consolidations, ect. There are a lot of ways to pay for access to your own money. Don’t do it. Plan your cash needs ahead so you don’t have to use a fee laden ATM. Wait those extra few weeks for your tax return. And those settlement consolidations companies (“It’s my money and I need it now!”) are to be avoided. Don’t pay for your own money!

    [blackwax] AGREE.
    The 1st Generation of Anything Electronic: Skip the newest of anything that comes out. There will be bugs and you will over pay. Let them work out the kinks on someone else’s dollar. In a few months you will spend less on a better version.

    [blackwax] AGREE

    Name Brand OTC Medication: The rules governing medications are so strict that the generic version is just as good. You are paying for the emotional comfort they created in their advertising. Go generic to save a couple bucks and buy something that is truly comforting, like ice cream.

    [blackwax] AGREE

    Car Washes: The place down the street from me charges $25 for a car wash. $25! And there is always a line. For $5 in quarters I can wash both my cars in the do-it-yourself stall type car wash around the corner. For the cost of a couple of squirts of soap and a bucket of water I can wash them in my driveway. Put that extra money in the tank instead.

    [blackwax] AGREE/DISAGREE. I wouldn’t pay $25 for a car wash, but I would pay $5.

    New Books, Movies, or Video Games: There are so many options for buying used media. Most books get read once and the sit on a shelf. And most people take good care of their movies and video games. Video games especially. A lot of people buy video games with the full intention of selling them when they are through. Do your wallet a favor and buy these items used.

    [blackwax] AGREE/DISAGREE. Since I am an author/content creator, I appreciate when people buy my books, art, etc. If you can afford it, in moderation, I don’t see a problem with it.

    • Thanks for your comment. On the car wash thing, I agree $5 is fine. Sorry if I wasn’t clear. 🙂 Some people don’t have the option of bucket washing for various reasons. For example if you live in an apartment.

      And the new media one; yeah I agree with you. Obviously someone has to buy new or there would be no used ones! 🙂 If it’s something you love then yeah, buy it new. Like if you’ve been waiting for the next series of your favorite book or video game to come out and you want to get it on the first release then you know, I can see that.

      Great comment, thanks for your thoughts.

  2. Brad Chaffee says:

    Ashley, I love this post!

    I of course am super guilty of paying for vanity plates. Both our cars have them. (IH8 DEBT and H8DEBT2) Lucky for us, in Virginia the cost isn’t that bad and I pay for it out of EOD money.

    A while back though when I attempted to do the 50 Plates in 50 States project I found out that outside of Virginia it’s not so cheap to have vanity plates which meant that the project was scratched almost immediately. LOL

    I tried to get one person from each state to get IH8 DEBT on their license plates. After finding out how expensive it was for some of them I completely understood why they wouldn’t. If it was that much for me I wouldn’t have them either. 😀

  3. Good list. For a cheap car wash you can always find some local group doing a fundraiser in the spring. I also try to avoid paying for delivery whenever possible, either with food or retail items I order online. In fact, I’ll be picking up a gift for my wife’s b-day later today that I ordered online and am doing store pickup.

  4. I never spend money on NEW FURNITURE! I buy nearly everything at the thrift store (with the exception of rugs, sofas, mattresses, and PANTIES! I still haven’t figured out who even THINKS of buying underwear at the thrift store….). Anyhow, when we moved into our singlefamily home a little over a year ago, I knew that decorating could get expensive. I’ve always been passionate about thrift stores (funny, huh??), and I naturally was drawn to them to furnish our house. So that’s what I do, and I blog about it, Thrift Diving. I found an awesome solid wood table for $12.00 at the thrift store….took it home…refinished it….and now it’s in our dining room. You can’t beat deals like that!!! Check out my blog to see all the other thrift store goodies I have found and am refurnishing or redecorating for my house!

    Serena
    Thrift Diving

    • Brad Chaffee says:

      Haha Serena! We visit thrift stores frequently and every time I go in one I always marvel at the idea that they have underwear. Underwear is fairly inexpensive and it’s just gross to recycle and use someone else’s underwear. LOL

      We absolutely hate spending money on new furniture so we usually search craigslist and have never had a problem finding something. We were in the market for an entertainment center for our living room television a few weeks ago and had a problem finding something used at a reasonable price so we eventually settled on getting one of those pieces from Target that you put together for $70. Other than that we love saving money by buying used furniture!! For us, whenever we’re itching to buy something to make our life easier all it takes is a trip to a furniture store to make us realize buying new isn’t an option. LOL Usually we’re just looking for ideas when we do that but the prices are so high there.

      we also recently bought a buffet table with sliding doors for our dining room and my wife got such a great deal on it. We paid about $70 for it and most of what we saw online and at stores (that we liked) went for at least $150 and up (mostly up)! LOL

      Thanks for sharing your thoughts! great comment!

      • Lol, what’s even more funny is that the prices on those undies are nearly the same price as brand new! Seriously?? I wouldn’t wear them if THEY paid ME to take them off their hands. Ha! 🙂

  5. Ryan says:

    1. Greeting cards. My kids and I make our own at a fraction of the cost or write a thoughtful letter instead.

    2. Books, DVD’s, Movies, Music. The library is a wonderful source in this country. As an amateur artist myself, my family and I believe in sharing (not stealing) good material as it’s not ours to hold on to. We make our own art for the home as well. It’s not Picasso, but our home is warm with creative love, and the value will rapidly build when the kids go off to college.

    3. Packaged health food. We started eating fruit and veggies in there natural state. No more nutrition bars, energy drinks, etc. Eating real food is a fraction of the cost with multiplied benefits.

    4. Starbucks or Dunkin’ Donuts. Grind the beans yourself, save a ton of money, and enjoy the better quality Joe.

    5. Cable TV. We’ve been off the couch for about 3 years now and aren’t looking back. Nothing missed.

    6. School Portraits. Personal photographs always carry more meaning. I think many people buy them just to not be the only parent who doesn’t. We’re on a mission to be debt free, so the bigger picture is more important.

    7. Underwear. Just kidding. Just checking to see if you guys made it this far.

    Thanks for allowing me to add on. Love the site.

    • AH! Greeting cards… great one. We stopped buying greeting cards a few years back and I haven’t missed it one bit. The kids make great cards that are actually worth keeping.

      I also went to 100% last summer and love it. I don’t have to pay for drinks anymore!! Plus I feel better than when I was always after my next caffeine fix.

      And yes, school pictures. Before the age of digital photography I can understand it. Now I have so many free pictures of my kids it’s insane.

      I’m keeping my cable and packaged foods for now. 🙂 I’ll get there eventually on these too I’m sure.

  6. Never spend money on most cleaning products. Vinegar, baking soda, and peroxide will clean pretty much anything for a lot cheaper and are way safer.

  7. I, for the most part, agree with the warranty assertion, particularly if it comes from the scumbags at Fidelity National Home Warranty. If anybody reading this is buying a house, make sure to read all the fine print in your contract because Fidelity is profoundly happy to take your money, but it’s like pulling teeth for them to pay out a claim.

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