Save, Don’t Spend: Seven Things We Pay Too Much Money For And Why
Like most people, you probably worry that you are paying too much for the things you purchase. Although the old axiom about getting what you pay for is true in some circumstances, there are a number of goods and services that people routinely pay too much for. Here are seven examples to help you cut the unwanted fat from your budget.
ATM Fees
If you routinely use a conveniently located ATM from another bank, you pay for the privilege. Consider switching to the bank that supports the ATM, or plan ahead and get free withdrawals from your bank, a cooperating branch of a competitor or in the form of cash-back withdrawals from a grocery store. Use credit cards instead if you need to buy something last minute and don’t have any cash.
Auto Maintenance
Regardless of what your dealer may imply, any qualified mechanic can do routine maintenance on your car. Check with local garages, high school, technical college programs or even the local auto parts store to see how much you can save on maintenance. The best way to save is to do simple repairs like oil changes yourself. Keeping up with maintenance on your vehicle will prevent you from having to pay too much for repairs. If you car does need extensive repair with the help of a professional, consider buying used parts online to save more money.
Brand Name Food Items
If only one cola really hits the spot, the extra you pay for the signature taste may be worth it. However, for many products you use, there are private-label versions that will do just as well. Start slowly by trying a few off-brand products here and there. You may be surprised by both the quality and the savings you receive.
Family Photos
It’s impossible to put a price on precious family photos, but that doesn’t mean you have to pay too much for them. Look for special sales and discount coupons for your favorite studio, or call local photographers to compare prices. Many local studios will offer family portrait discounts throughout the year to help you save on your pictures. Picking a quality photographer or studio upfront might seem a little pricey at first, but you will save you bundle with clear and nice pictures the first time. Rather than paying someone else to get them done again throughout the year, spend the money only once a year and get quality photos.
Fast Food
Takeout really isn’t any faster or more convenient than making a cold cut sandwich for your lunch or grabbing a muffin on your way out the door in the morning. Take the time to learn a few simple one-pot dinner recipes and you can eliminate most fast-food at dinner time, as well.
Weddings
While weddings are supposed to be a once in a lifetime event where family and friends can celebrate, that doesn’t mean it has to come with a hefty price tag. Save money by bundling flowers, the cake and decorations from one place. Often times, the search for the perfect item can cause headaches and more money, when it can often be done at one location. Hiring a wedding planner is also a great investment, because they can get you the best deals that aren’t offered to anyone else.
Utilities
While paying utilities is something you can never avoid, you can save by taking a few steps starting in your home. Seal windows and doors, or invest in better windows, to save you a load of money during the winter. Getting LED light bulbs will also save you in electricity, as well as the need to replace them as often. Turning off lights and lowering the heat settings a night is also a simple way to spend less on utilities.
Saving money can be painful, but it doesn’t always have to be that way. Try these tips to reduce your bottom line without cramping your style.
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Category: Budget, Financial Planning
