We’ve all been there—glancing at our bank statement with a sinking feeling, wondering where all our hard-earned money went and why you can’t save money. It’s easy to fall into spending traps, especially when society, advertising, and even our own habits push us toward them. But when you take a closer look with ways to spending money and stop wasting money, you might realize there are many things you’re spending money on that don’t bring you real value or happiness. Consider making your own products at home like DIY deodorant. You would be surprised how many products you can make and skip the stores and save money while doing it!
In a Nutshell
- Cutting out the unnecessary spending so we can have more cash for the things that really matter to us. It’s about being smart with our money, stop spending money and not letting it slip through our fingers on things we don’t truly need.
- Being more intentional with our money by choosing what genuinely adds value to our lives. We can start making purchases that align with our priorities rather than just acting on impulse.
- Changing how we spend can help us save more, invest wisely, and enjoy life without constantly worrying about finances. By shifting our habits, we’re setting ourselves up for a more secure and fulfilling future.
Today, I’m sharing ways to stop spending money and how to save money, drawn from my own experiences and those of others who’ve learned the hard way. Cutting these out (or at least reducing them) can free up cash for things that truly matter, like saving for the future, traveling, or simply enjoying life without financial stress.
Don’t Buy These Things and Start Saving Today
We all want to save money, but sometimes our spending habits can make it challenging to hold onto our hard-earned cash. It’s easy to spend money on things we don’t really need, which can add up quickly and eat away at our savings. By making a few simple changes and being more mindful of where we’re spending money, we can start saving money more effectively. It’s not about cutting out everything you enjoy; it’s about being smarter with your spending and finding ways to adjust your habits to keep more money in your pocket.
Subscriptions You Don’t Use
It’s so easy to sign up for a subscription and forget about it. Whether it’s a streaming service, magazine, or online tool, if you’re not using it regularly, cancel it. That $10 here and $15 there adds up quickly.
Cable TV
Cutting the cord was one of the best decisions I made. With so many streaming services available, you can save a significant amount by ditching cable. Plus, you can still catch most shows online—often at a fraction of the cost.
Expensive Coffee
I love a good latte as much as the next person, but I had to face the fact that spending $5 on coffee every day was draining my wallet. Invest in a quality coffee maker or learn to make your favorite drinks at home. You should stop spending money on this non-essential purchase.
Eating Out Frequently
Dining out is fun and convenient, but it’s also expensive. Meal prepping and cooking at home can save you a ton, and it’s often healthier, too. I started meal planning, and not only did my bank account thank me, but my waistline did as well.
Bottled Water
Buying bottled water is one of the most unnecessary expenses out there. A good reusable water bottle and a home filtration system can save you hundreds each year and reduce plastic waste. Stop spending money on this, it’s not an essential item for you. While water is important to have with you, there are smarter options.
Brand-Name Groceries
I used to be brand loyal until I realized that many store brands offer the same quality at a lower price. Switching to generic brands can lead to significant savings over time without sacrificing taste or quality.
Unnecessary Warranties
Extended warranties often seem like a good idea at the time of purchase, but they’re usually not worth it. Most products are built to last through their normal lifespan, and the money spent on warranties could be better invested elsewhere. This is not an essential item, you can stop spending money on this one, entirely.
Impulse Purchases
We’re all guilty of buying things on a whim, especially when we’re stressed or just bored. I’ve started practicing the “wait 24 hours” rule: if I still want it after a day, then I consider buying it. This simple trick has stopped me from making countless unnecessary purchases.
Overpriced Gym Memberships
If you’re not using your gym membership regularly, it’s time to reconsider. There are plenty of free or low-cost ways to stay fit—think outdoor runs, home workouts, or YouTube fitness channels.
New Cars
Cars depreciate the moment you drive them off the lot. Buying a slightly used vehicle can save you thousands, and often, you’ll find one that’s just as reliable as a new one. Plus, insurance costs are usually lower for used cars. The value of a new car drops drastically the moment you purchase it. Buy a car a couple of years old instead. You should stop spending money on this one.
Designer Clothes
It’s tempting to splurge on high-end fashion, but trends change quickly, and the novelty wears off. I’ve found that investing in quality, timeless pieces offers more value in the long run. Plus, no one really knows if your jacket is from a high-end designer or not.
Tech Upgrades
We all love the latest gadgets, but upgrading your phone or laptop every year is a major money sink. If your current device works fine, resist the urge to upgrade. I’ve stuck with my old phone for three years now, and it still does everything I need.
Bank Fees
Overdraft fees, ATM charges, and account maintenance fees can add up quickly. Look for banks that offer no-fee accounts or credit unions that offer better terms. Switching to a fee-free bank has saved me more than I ever expected.
Fancy Kitchen Gadgets
That spiralizer or air fryer might seem like a must-have, but if you’re only using it a few times a year, it’s not worth the money. Stick to basic, multipurpose tools in the kitchen. I realized that many gadgets just take up space and collect dust.
Paper Towels
Switching to cloth napkins and towels can save you a surprising amount of money over time. They’re reusable, durable, and more eco-friendly. It’s a small change that adds up.
Lottery Tickets
It’s fun to dream, but the odds are almost always against you. Instead of wasting money on lottery tickets, I’ve redirected that money into a savings account or invested it. The returns are much better.
Convenience Store Snacks
Grabbing a quick snack from the gas station or convenience store is easy but expensive. I started buying snacks in bulk from wholesale stores and packing my own. It’s healthier and cheaper in the long run. You don’t really have to spend money on this.
Books
As a book lover, this one was tough, but I realized that buying every book I wanted was unsustainable. I’ve since embraced my local library and e-books, which offer a virtually endless supply of reading material for free or at a low cost. Stop spending money on this when you can get your books for free!
Excessive Gifts
We all want to spoil our loved ones, but there’s a difference between being generous and going overboard. I’ve found that meaningful, thoughtful gifts often mean more than the most expensive option. Plus, experiences often make better memories than material goods. You don’t need to spend money on this!
High-End Beauty Products
It’s easy to get caught up in the hype of luxury beauty brands, but many affordable alternatives work just as well. I’ve cut down on my beauty spending by finding budget-friendly dupes and focusing on skincare over makeup. Buying drugstore makeup many times is almost exactly the same as their high end parent company. Buying Loreal mascara instead of Lancome, you will save quite a bit. Loreal also owns Maybelline and NYX, both budget friendly makeup alternatives. In addition, you can also make DIY mascara at home.
Gourmet Groceries
I used to splurge on gourmet groceries, thinking they were better for me. But many times, the price difference is more about branding than quality. Shopping at local markets or buying seasonal produce can help cut costs without sacrificing taste.
Household Cleaners
Brand-name cleaners are often marked up significantly. I started making my own cleaning solutions using simple ingredients like vinegar and baking soda. It’s cheaper, and I know exactly what’s in them.
Trendy Home Décor
Home décor trends come and go, and constantly updating your home can be expensive. I now focus on classic, versatile pieces that stand the test of time, and add personality with smaller, more affordable accents.
Fast Fashion
Cheap, fast fashion trendy clothes like those on Bloomchic or Shein, might seem like a good deal, but they often don’t last. I’ve shifted my focus to buying fewer, higher-quality items that last longer, spend less money in the long run.
Greeting Cards
Greeting cards can be surprisingly expensive. I’ve started making my own or going digital. A personalized note or e-card can be just as meaningful, and it saves money and paper.
Dining Out at Lunch
Bringing lunch from home can save a significant amount of money each month. I used to eat out every day, but now I make a habit of meal prepping, which has drastically reduced my spending.
Pre-Cut or Pre-Packaged Foods
Convenience comes at a cost. Pre-cut fruits, veggies, and other convenience foods are marked up significantly. I’ve started doing the prep work myself, which not only saves money but also keeps my food fresher.
Excessive Cleaning Products
There’s a cleaner for everything these days, but you don’t need them all. A few multipurpose cleaners can do the job just as well, and making your own from basic ingredients can save you even more.
Subscription Boxes
While they’re fun and exciting, subscription boxes often include items you don’t need or wouldn’t buy on your own. I canceled mine after realizing most of the items just ended up in a drawer.
Junk Food
Not only is junk food unhealthy, but it’s also a waste of money. I’ve been cutting back on chips, sodas, and sweets, and instead, I stock up on healthier snacks that keep me fuller longer.
Unused Gym Equipment
That treadmill or set of weights might seem like a good investment, but if they’re gathering dust, it’s time to sell them. I found that a gym membership or free outdoor workouts suited me better.
Credit Card Interest
Carrying a balance on your credit card can be one of the most expensive financial habits. I’ve made it a priority to pay off my balance in full each month to avoid interest charges. It’s saved me a significant amount of money and stress.
Circling Back Around
Cutting out unnecessary expenses isn’t just about saving money—it’s about being intentional with how you spend money. By taking a closer look at your spending habits and identifying where you’re spending money needlessly, you can redirect those funds toward what truly matters. Whether that’s saving for a big goal, investing in experiences, or simply creating a more secure financial future, the choice is yours, and it all starts with smarter spending.
Frequently Asked Questions About Smarter Spending
Why is it so important to cut out unnecessary spending?
It’s not just about how not to spend money; it’s about freeing up cash for the things that truly matter to us, like experiences, security, and future goals.
How do I know if something is really unnecessary?
Ask yourself if it genuinely adds value or joy to your life. If it’s something you wouldn’t miss if it were gone, it might be worth cutting out.
What are some easy changes I can make to stop spending money?
Start small—like making coffee at home or meal prepping. These little changes can add up to big savings over time.
Isn’t it hard to change spending habits?
It can be at first, but once you see the benefits—more savings, less stress—it gets easier. It’s all about taking it one step at a time.
What do I do with the money I save?
Put it towards something meaningful, like an emergency fund, a vacation, or even just a fun splurge that you’ve been planning for a while.
How can I avoid impulse buying?
Try the “wait 24 hours” rule—if you still want it after a day, then consider buying it. It’s a simple trick that can really curb those spontaneous purchases.
Is it really worth switching to generic brands?
Absolutely! Most of the time, you’re getting the same quality for a lower price, and that extra cash can be used for something that brings you more joy.
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