Although I’ve always been interested in saving money, I haven’t always been able to see how some of my everyday habits have deterred from my money-saving goals. There are several money-wasting habits I’ve given up over the past few years that have really helped me to cut down our overall expenses and allowed me to pursue my dream of starting my own business, which allows me to be a work-from-home Mom. Which this would allow me to be as money efficient as possible through using money management which I would be able to adopt through 7Wealth.com.au which is a credible financial advisors.
It’s easy to waste money without even realizing you’re doing it. All of the small items you spend money on that you brush off as not being a big deal can really add up to be quite a bit more than you expected once you do the math.
I’d like to share some of the money-wasting habits I’ve given up over the years, hoping that someone else can learn from the mistakes I’ve made along the way!
Money-wasting habits I’ve given up over the years:
1. Paying for the Sunday newspaper to get coupons
A few years ago I had what you might call an obsession with couponing. I thought it was imperative that I spend money to receive the Sunday newspaper each week so that I could save money by using the coupons.
Which is hilarious when I think about it now, because not only did the paper itself not get read, but I would spend several hours combing through and cutting out coupons for items that we not only typically didn’t buy, but didn’t need either. I got so caught up on the perceived “deals” I was getting that I lost sight of the big picture. This habit ended up costing me money not only for the paper itself, but for the items we didn’t really need that I stockpiled in our basement. Lesson learned!
2. Buying coffee at Starbucks everyday
At one point I had a job where I was driving 1-2.5 hours to work each way. I decided that because of this, I essentially deserved to treat myself to a Starbucks latte first thing in the morning to help me enjoy my commute more. I justified it by telling myself that it was only $4, and that it’s not as bad as an unhealthier, more expensive habit such as smoking.
Well, once you do the math…that $4 every weekday adds up to over $1,000 over the course of a year. I feel sick just thinking about the fact that I did this. I still do go to Starbucks occasionally when I have a gift card to use, and the bonus is that it’s a much more special treat when I don’t get it as often.
3. Buying clothing and home decor on sale
I’ve found that if I shop the sale racks for these items, I end up purchasing things that I otherwise wouldn’t if they had been full price. I would end up with clothing or decor I liked, but was not necessarily head over heels for. I’d rather bring fewer, more expensive items into my home and have them be things that I truly love and enjoy. Many retailers falsely inflate the original price anyway to make you think you’re getting a deal when their merchandise is on sale. So really, what’s the point?
4. Making impulsive purchases while grocery shopping
I used to go through each and every single aisle in the grocery store, haphazardly tossing in whatever I desired, with no regard for what we actually needed. I found this approach left me with not only a bunch of junk food that looked tasty at the time, but nothing of real substance to create healthy meals from. Now I make a list and stick to it.
5. Buying brand name groceries
I used to be extremely loyal to brand name foods. I’ve since discovered that for the most part, generic versions are just as tasty as their brand name counterparts. In addition to other ways we save money on groceries, we’ve saved so much money over time by almost always buying the generic version of foods. As long as the nutritional value and taste align with the brand name version (and it’s cheaper), we buy it.
6. Emotional Spending
Too often I would go shopping to get a pick-me-up when I was feeling down in the dumps. I’d easily drop $100, have temporary fun while doing it, and then get home and the guilt over it would consume me.
I am much better off going for a walk with a friend when I’m feeling down. This option puts me in a good mood that lasts much longer, comes with zero guilt afterwards (I actually feel better about myself for getting in some exercise), saves me money, and I have less junk in my house that I don’t need. I’m much better off seeking healthier alternatives to manage my feelings than spending money on material possessions that I didn’t want in the first place.
7. Buying bigger just because I could
There are several times I actually did this, but I’ll share a more recent encounter. To give you some background, I have driven a Prius for a few years (don’t hate, I know I hated on them before I purchased mine) and I absolutely love my car. It is safe, reliable, pretty roomy, and the opposite of a gas guzzler.
However, before my daughter was born last June, we strongly considered getting a large SUV. I’d been of the frugal mindset for awhile at this point, but the upcoming addition to our family was somewhat allowing my maternal instincts to override my frugal mentality. Buying an SUV just seemed like something the typical American couple is supposed to do once they bring a baby into their family.
We could have technically afforded it, but I am so happy that we didn’t pull the trigger on this one. It would have cost us several hundred dollars more per month in car payments, as well as a drastic increase in the amount of money I would spend on gas. My current car has actually been great to have with a baby – especially convenient when she loses her pacifier while I’m driving and I am able to easily reach into the backseat and find it for her at a red light! Bigger is not always better.
What are some money-wasting habits that you’ve managed to eliminate from your life?
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I’ve been guilty of several of these habits in the past myself. Emotional spending has been a big one for both of us. For a while Mr. Maroon was unsatisfied with his job. He tried to offset those feelings by accumulating stuff he thought would make him happy. It just doesn’t work! Oh and name brands… I used to think you must be poor for buying those. Wrong!!! I seek out store brands for everything – except toilet paper and dish soap. No scrimping allowed there!
Thanks for stopping by Mrs. Maroon! Agreed – toilet paper especially is one that we always buy name brand for.
I used to get Starbucks everyday, too!! So did my husband…and sometimes we would go AGAIN after work, so don’t feel bad haha! We only go for a “treat” nowadays which is sometimes once every two months and sometimes twice in a week, it just depends.
We also bought the “must have SUV” last year, lol! It’s definitely one of my biggest regrets because we totally could have purchased a cheaper one if we didn’t get so emotionally attached to the first one we saw. We did need a new car though since at that point we had two car seats in my Toyota Corolla. And, that SUV is what enabled to move from AZ to NC so I’m happy we have it…I just wish we would have spent less!
Sarah – Don’t you find you savor every last drop now, knowing you might not have it again for another month? I’m the same way, I sometimes don’t go for a month or so and then find myself there twice in one week. It all balances out though, and I always seem to have a gift card to use (my family and friends fund my obsession and know the go-to gift for me is gift cards there, lol!)
I so hear you! I think it’s a different ball game too when you add a second car seat in. Just the one car seat seems to take up my entire backseat, so we might need to step up to an SUV once a second kid is in the equation. Nothing you can do about it now but to just enjoy the car you have 🙂
Oh man, I can relate to the couponing thing! I got into that in early 2014. I saw a few episodes of Extreme Couponing and decided that was for me! Well, no it wasn’t, because those people get tons of free inserts from paper delivering friends. I don’t have any of those. Even printing coupons off the computer is pricey, ink-wise. Great job plugging those money leaks, Christina!
Thanks Kay! And Extreme Couponing…also my demise! They make it seem so easy and fun, and I tricked myself into thinking I was saving money at the time. Oh well. You live and you learn, right? 🙂
I’ve dealt with all of these habits before. Especially impulse shopping and getting Starbucks more than I should. Once I noticed all the sugar their coffee had, I was even more motivated to cut back on their drinks. Now I can go several weeks without purchasing a drink from Starbucks and making coffee at home helps with that a lot.
Thanks for stopping by Chonce! Good for you for making the decision to cut back!
One issue that I think should make it onto anyone’s list nowadays is online shopping. If I can cut back on online shopping, I’ll save a fortune.
I’ve started saving/investing any money I save by not buying a coffee or not buying the latest gadget. I find it’s really effective for growing investments quickly without having to make a huge stretch.
So true! I’m sure you’re finding that with your new baby, it’s so tough to get out to go shopping. I usually turn to Amazon to buy a lot of essentials we might need, simply because packing the babe up to just grab a few items at the store seems like too much of a task to take on some day. Hopefully one day I’ll be able to limit my online shopping a bit more, but for now I’ll just need to be super selective about what I actually do buy online.
That’s great that you’ve been saving, those little purchases can really add up. Happy to hear you were able to give up some of your money-wasting habits as well.
Great List Christina – Where we currently live is very rural and it takes 45 minutes just to get to some of the stores we used to frequent. When we moved there I realized just how often we took trips to the store. It was easy to just run around the corner. Now I make sure I have a sufficient list before we head into town because we can’t afford multiple trips. That alone has saved me money because I find I don’t purchase things like I used too, on a whim or just because. If I’m going to spend time traveling to the store it has to be something we really need. Love this post – sharing it over on the Simplified Life Facebook page. ~Victoria
Thanks so much Victoria! Wow, 45 minutes is quite the drive for a trip to the store. I bet that alone really helps to cut down on your shopping when you have to diligently plan your purchases for each excursion. I would actually LOVE to live in the country. We had relatives who owned a farm when I was growing up, and it was my absolute favorite place to be. I’m sure you have such a beautiful view from your home!
That is so sweet of you, thank you for sharing! I really appreciate it 🙂
I love the layout and look of your site, looking forward to exploring your posts!
Great list! I’ve given up a few of these, including the Starbucks habit. Instead I make cappuccino or hot chocolate with my keurig! Haven’t kicked the habit completely, but it’s a lot cheaper for me!
Thanks Heather! Good for you, that’s so great! I would say you’ve made fantastic progress, and that’s what matters. I honestly don’t think I ever want to give up my coffee habit alltogether- it’s too delicious 🙂
I’ve given up buying cheap clothes from the big department stores because I found that while a tee might cost me $4, it only lasts a few weeks, and then I end up buying more. Whereas if I buy a $30, well-made tee, it can last well over a year before it starts to look ratty.
I also gave up buying lunches. I mean, sometimes, you just have to, because life isn’t rehearsed, but for the most part, I just make and take lunch these days.
I agree Meg! It pays in the long run to spend a bit more initially on something well-made.
That’s so great! The last time I worked in an office was a little over 2 years ago, but I tried to do the same. 95% of the time I’d bring my lunch, but sometimes I would forget it at home or just plain old wouldn’t want to eat what I brought. We are only human after all!
Ah! The Sunday paper. My hubby’s ritual is to go to Safeway every Sunday to pick up a paper. We actually do read it but I find the coupons we use are few and far between. The whole food lifestyle doesn’t have perks in the coupon department:0)
I’m with you on buying a few things that you love instead of buying what’s on sale because ‘it works’. I tend to buy pricey jeans but I wear them often and they last a long time.
The hubby has also started taking leftovers for lunch instead of buying those microwavable meals. It may not be cheaper but it’s healthier, for sure.
So true, Jayleen! It’s difficult to find coupons for organic, good-for-you foods. I think buying expensive jeans is totally worth it, especially if they are a classic style. You’ll wear them for years!
Yuck, I used to eat those microwavable meals every single day a few years back. I can’t believe I did that, just the thought of them now grosses me out. That’s so good that your Hubs just opts for leftovers. That’s honestly less expensive, some of those microwave meals actually aren’t the cheapest!
If you have to make payments, (borrow money) for a car, you really cannot afford it. I drive my cars until they don’t make sense to repair, but I pay cash for them up front. My Mom always said ” The difference between having enough and not is 2 cents. If you have a dollar and spend 98 cents you will always have enough. If you spend $1.02 you will never have enough.”
Agreed Sandy. I wish my actions reflected my views on that, but my current car unfortunately won’t be paid off until a little over a year from now. At the time I justified it because I had a decent commute to work and the gas money I would save from purchasing a Prius actually covered the monthly payment! But from now on we don’t have plans to purchase any cars until we can pay for them in full. Your Mom sounds like a very wise woman! So much truth in that!
It’s gonna sound silly and I’m probably pretty dumb for not doing/knowing about this sooner- but oh my gosh, unplugging kitchen appliances and other various items while not using them! I used to have the toaster, coffee pot, electric can opener, and lap top/printer always plugged in. That along with our treadmill downstairs and box fan in our room (to help me sleep at night). I made an actual effort the last month to leave all of these unplugged and only plug in when using… Get this- it saved us $40 on our electric bill!!! Mind blowing. Such a mindless thing that was costing us $! Wish I had known that ages ago.
That’s not silly at all, I found out about that I think just 2 or so years ago. Holy smokes….$40/month?! We were really good about unplugging everything before the babe came along, but then since the newborn days and trying to just SURVIVE each day, unplugging and replugging appliances was the last thing on my mind…but we need to get back on that bandwagon! I thought it was only a few bucks we saved every month by doing that, so I hadn’t made it that big of a priority to start back up with it again. Thank you for the reminder with the awesome news of how much money you’re saving… that truly is mind blowing! 🙂 Thanks for sharing Jess!
I make my own laundry soap, I often hang clothes to dry, I cook from scratch, I don’t take the paper, I don’t clip coupons, I don’t buy at Big Box Stores (Sams, Costco) very often and just for a couple of specific things, we own two cars but generally only use one — if one wasn’t a pick up truck I am sure we would go to one car, have cut most cable services, have cut cell phone services — we have done a lot and it feels really good!
That’s awesome Melissa! I make my own laundry soap as well, it’s so easy and lasts us a long time!
Great job with cutting out some of your own money-wasting habits! 🙂
I feel sad to say that I have never been able to do these. When I was working 3 jobs and had quite a bit of extra money I did have one impulse buy for a 40 inch tv, But I still use it often so I was ok with that. The rest of the money I made went to paying off bills so that worked out good. But I did want to comment just to say that if you guys do cut out even 2 to 3 of your Starbucks purchases a week, I recommend putting it into the app betterment out acorns. They really do actually help grow your money. 🙂
Thanks for sharing Alexander! I’ve never even heard of betterment out acorns, I’ll have to check that out 🙂 Luckily we have cut out Starbucks as a regular purchase, and just indulge as a special treat a few times per month. It makes me enjoy each sip a bit more too!
Sorry, but everyone talks about wasting money on purchasing the Sunday paper for coupons…..The Sunday newspaper is for news! – current events, editorials, things going on your neighborhood also a Life & Leisure section for entertainment and pop culture with a magazine section and the bonus is coupons. Way before couponing, I always purchased the newspaper-for news. Sometimes its good to know if your neighbor died or killed someone – or the road you use is going to be closed — just saying. A daily subscription is half the price of just purchasing a Sunday paper only and the bonus is — you get news in addtion to coupons.
Haha very true Dede! Our town actually has a separate paper that we receive every week where we read about all the local happenings 🙂 So I was getting a larger newspaper (the Chicago Tribune) on Sundays purely for the coupons.
Great list! I would like to add gettingrid of cable. My husband and I got rid of it three years ago. We save almost a hundred dollars a month. We have a ROKU device instead and have netflix and other free channels.
We dont have a land line phone either, just cell phones. I mean, do you need two phones?
Wow, saving $100/month is awesome Nicole! Good point, we don’t have a land line either, just our two cell phones as well. We might get one once our kids are a bit older (and not old enough to have their own cell phones yet) purely for the safety factor of being able to dial 911 or something quickly, but for now we definitely don’t need that additional expense!
Instead of putting in a land line you can always keep an old cell phone after upgrading yours and give it to the kids. Most smartphones can still access the Internet and dial 9-1-1 even when they are not on a phone plan. Plus you can install apps like textfree where if they have an internet signal they can send a text message to another phone. it’s what I use for my son. It makes it a lot more comfortable to let him stay at home when I run to the store for 15-20 minutes.
That’s such a great tip, I’ll have to keep that in mind when my daughter is older!
I used to go to the movies, out to eat and to the bookstore every week. I’ve since gotten married and had a baby and don’t remember the last time I went to the movies. I’m also trying to use cloth diapers. Expensive up front cost but it can save you around a thousand dollars if you use them until baby is potty trained and even more if you use them for any other children. You don’t really think about it but disposable diapers are expensive and usually considered necessary because who wants to scrub baby poop out of cloth but it can save you still much money to do so. I also buy toilet paper at Sam’s Club about once every couple months. $15 for a huge thing of it that will last almost 2 months or $11 for a pack that will last maybe a couple weeks.
I’m with you on that one, Cammi! I don’t remember the last time I went to the movies either. I commend you on using cloth diapers, I was looking into that myself but then chickened out. Maybe for baby #2! 🙂 I’m scrubbing poop off everything else, might as well scrub it off diapers too, hah! Thanks for sharing!
I’ve definitely been guilty of a few of these in the past and I’ve recently stopped buying coffee while out and got myself a little travel mug to take with me. I now see coffee from a coffee shop as a rare and enjoyable treat rather than an expensive necessity.
I’ve also been a lot more careful when shopping the sales as it’s so easy to think you’re getting a bargain and then when you get home you realise it’s something you don’t actually want or even like!
I am guilty of #4 and #6 and am currently trying to end those habits! We have plan to be debt free by the end of the year and those are always budget busters lol.
Shopping with friends who have more money than you.
Ah that’s a good one Annie, especially if you are prone to spending more if the friends you are with are buying things too!
In all my years of bargain hunting and giggling at my own clever money saving tricks, I have never understood the allure of most coupons. They ought to be paying US to eat Count Chocula.
I have, however, gotten into the habit of looking for coupons when I am shopping online. When you get to the payment part of the online checkout process and see a box for something like “special saving coupon” or “discount code” open up another window and do an online search for “coupon (fill in your retailer name here)” and see if anything pops up. Sometimes nothing is available but sometimes you get a nice surprise.
Haha very true Mandy, most coupons typically are for junk food type items. And that’s a great way to save money on healthier items you’re buying anyway without spending too much time to find the coupons!
I don’t drink Starbucks every day, but I do multiple times a week. I’m giving up some of these drinks to make it a special treat again—partly for the money, and partly because my jeans are too tight!
Haha I can completely relate Catherine, and I will admit that I definitely enjoy my Starbucks trips more now that they are less frequent. The lattes taste better to me, I swear! 😉
Well I don’t drink Starbucks so I’m already far ahead of everyone else. I do get the Sunday paper, I do clip coupons and I do save lots doing it, so I disagree with you there. I use the sale ads to grocery shop as well,also saving me money. I do emotion shop but most of the time after returning home and giving myself a few days I end up returning most of the items because I realize I don’t need them…sorry, your list didn’t help me…
Thanks for sharing Roni! It sounds like you are already doing a fabulous job at saving money where you can 🙂