Pointless Expenses You're Still Wasting Money On
If you’re tired of the same old financial advice that claims having a coffee every day is the only reason you can't afford a house, you are in good company. Treating yourself to a latte now and then isn't the end of the financial world, but like any expenditure, everything is better in moderation. Drawing the line between things you want, things you need and all the things in between can be tricky when mapping out your budget.
It may be time to start setting some financial resolutions — including editing all the dumb stuff you are overpaying for or spending money on altogether. Here are nine things you should stop buying and wasting your money on next year.
ATM Fees
In 2025, paying ATM fees is almost a fool's errand. With so many online banks offering free ATM withdrawals and brick-and-mortar banks offering a large network of free ATMs or ATM fee reimbursement, paying several dollars a month is seemingly avoidable. Simply put, there's no reason to waste money on fees just to access your own cash so even if it takes planning ahead, make sure you omit this expense.
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Bottled Water
Shockingly, people continue to spend money on bottled water even given both the financial and environmental downfalls. If you don't trust your tap water, even the cost of installing a filter or having one in your fridge can make it worth your money in the long run. Stop paying for something you can essentially get for free and invest in a quality reusable water bottle for when you're on the go.
Brand-Name Medications
Unless you're specifically advised by your doctor, opting for brand-name medications over their generic counterparts is a pointless expenditure. Generic drugs have the same active ingredients and undergo the same quality control as their branded counterparts. Switching to generics can save you hundreds or even thousands of dollars annually without compromising on health.
Cable TV Subscriptions
The world has moved on from traditional cable television, but many are still holding onto it — along with its hefty bill. Streaming services like Netflix, Hulu and Disney+ offer customizable viewing options and even bundling options. If you're still paying for a bloated cable package, it's time to cut the cord and switch to more budget-friendly entertainment options.
Extended Warranties
Retailers love to upsell extended warranties, but the truth is, they're seldom worth it. Most products are built to last for at least the length of their original warranty, and by the time they break, chances are you'd be looking to upgrade anyway. Instead of shelling out for extended warranties, set aside a small emergency fund for when things really go wrong.
Fast Fashion
Cheap, trendy clothing may seem like a good deal, but fast fashion is a money pit. These clothes are usually poorly made and fall apart after just a few wears, forcing you to constantly replenish your wardrobe in a never-ending cycle for your closet and nearest landfill.
Instead, invest in quality, timeless pieces that last longer. You'll not only save money but also reduce your environmental footprint.
Premium Gas for Non-Luxury Cars
Unless your car specifically requires premium gasoline, you're throwing money away by filling up with it, especially when gas prices are already so high. Modern engines are designed to run efficiently on regular unleaded gas, and using premium won't give you any added benefits in performance. Stick to regular gas and watch your fuel expenses drop in what you pay at the pump.
Overpriced Online Shopping on Amazon
Name-brand phone chargers, headphones and other items can cost up to three times as much on Amazon when compared to other retailers or the product's own website. Check reviews before you add something to your cart as many will let you know if it's worth the cost. Don't be afraid to shop around as varying sticker prices could shock you.
Unused Gym Memberships
Whatever your fitness resolutions, there's no reason to pay for a gym membership you're not using. With the explosion of online workout platforms, free YouTube fitness channels and affordable apps, staying in shape no longer requires an expensive gym pass, particularly if you don't go regularly. If you're still paying for a membership you rarely use, it's time to cancel and explore the world of free digital fitness.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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