Things You Should Never Buy

Not everything for sale is worth your money. Some items drain your wallet without adding real value to your life. If you are trying to save more spend wisely or stretch your retirement income these are the kinds of purchases to think twice about. Many of them seem small but can add up over time.

Extended Warranties

It may seem like a good idea to protect your purchase but most extended warranties are not worth the cost. In many cases the item will never break or the repairs will cost less than the warranty itself.

Most electronics and appliances already come with a manufacturer’s warranty. Credit cards sometimes offer extra protection too. Unless the item is very expensive or likely to fail early it’s usually better to skip the extended plan and save the money instead.

Trendy Gadgets and Tech Upgrades

New gadgets and upgrades come out every year but that doesn’t mean you need to buy them. Many people rush to get the latest phone tablet or smartwatch even if their current one still works fine.

Ask yourself if the upgrade will really improve your life. If it’s just newer not better it may be smarter to wait. The longer you hold off the more money you keep in your pocket.

Cheap Furniture That Won’t Last

Buying low-cost furniture can seem like a smart way to save. But if it breaks in a year or becomes uncomfortable it can cost you more in the long run. This is especially true for things like sofas chairs and mattresses that you use daily.

Instead of buying the cheapest option look for well-made items that will last. You do not always need to buy top of the line but try to find a balance between price and quality.

Bottled Water

Buying bottled water regularly is one of the fastest ways to waste money. If you live in an area with safe tap water you can get the same result with a reusable bottle and a simple filter.

Over time buying bottles every week adds up to hundreds of dollars a year. A one-time investment in a water filter and a sturdy bottle can save you a lot.

Clothing Just Because It’s On Sale

A big sale might feel like a good reason to buy but if you do not need the item it’s still a waste of money. Many people end up with closets full of clothes they never wear just because they were marked down.

Before buying ask yourself if you would want the item if it were full price. If not it’s probably not worth buying just because it’s on sale.

Subscription Boxes You Forget About

Subscription services for beauty food books or clothes are everywhere now. Some people enjoy them but they can easily pile up and go unused.

If you forget to cancel or don’t use what you receive each month you’re just throwing money away. Review your subscriptions and cancel any you don’t fully enjoy or use.

New Cars

A new car loses value the second you drive it off the lot. In just a few years it can lose thousands of dollars in resale value. Unless you have extra money to spend and a strong reason to buy new consider looking at used cars in good condition.

Used cars often have low mileage and can still last for years. You’ll avoid the sharp drop in value and still get a reliable vehicle.

Name Brand Over-the-Counter Medications

Many name brand medicines are nearly identical to the generic version. The active ingredients are the same but the cost can be double or more.

Check the labels and save your money. You can often get the same relief for much less by buying store brand or generic options.

Specialty Kitchen Gadgets

That popcorn machine or avocado slicer might sound fun but chances are you’ll only use it once or twice. Kitchen drawers can quickly fill up with items that seemed useful at first but now just take up space.

Stick to basic tools you’ll use often. A few good pans sharp knives and mixing bowls go a long way.

What to Keep in Mind

Spending money wisely means knowing what not to buy as much as knowing what to buy. Some purchases offer little value and only take money away from the things that matter most.

By avoiding these common traps you can stretch your budget save more and feel better about the things you do spend money on. Small changes add up and being thoughtful with your spending helps you stay in control of your finances for the long term.

Sources:
https://www.consumerreports.org/money/extended-warranties/steer-clear-extended-warranties-a3095935951/
https://www.une.edu/sites/default/files/2023-07/water-bottled-or-tap.pdf
https://www.bitchesgetriches.com/subscription-boxes-wasteful-spending/
https://www.kbb.com/car-depreciation/
https://consumer.ftc.gov/articles/generic-drugs-low-cost-prescriptions
https://www.uhhospitals.org/blog/articles/2022/07/generic-vs-brand-name-drugs-is-there-a-difference