6 Things to Stop Spending Money on
Spending less money and running on a fixed budget may be difficult, but it surely is not impossible. And the whole idea is for you to have enough savings and funds so as to be able to withstand emergencies and handle sudden unexpected expenses. Also, it gives you a peace of mind that any other thing may not be able to give you. So, before you start increasing your income and savings, take note of your expenses. What are the various things you are spending money on? Do you really need them all? Can’t you find more economical alternatives? There are several things we end up paying money for which we could have easily averted if we took notice. Listed here are 6 things to stop spending money on.
1. Drinking water
How many times have you spent money on packaged drinking water just because it seemed to be a safer option from the point of view of health? In many towns, you also have to pay tax on these bottles. If you add up the cost of these bottles, on a weekly and on a monthly basis, you will be saving quite a lot. And there are several people who are still alive drinking tap water. So before you buy the next packaged bottle, ask yourself whether there is something really wrong with tap water or you are just being paranoid.
2. Gym memberships
No one is asking you to give up on your health. In fact, working out in the gym regularly is recommended to all these days. But spending a fortune on gym membership is a very bad idea. There are flashy and hugely branded, highly marketed gyms which will take a large chunk out of your pay check just for membership. Then there are additional costs for services like sauna, steam, personal training, diet consultancy and what not! And once you join, you will be convinced that not using these services is not helping you in any way and in fact, may be keeping the results you want to see in your body from you. And so you would eventually pay up for them as well. Now, if you are working, you should ask your company if they have tie ups with any health club or fitness center – most companies do, and by being an employee in that company, you become entitled to huge discounts – sometimes these discounts are as big as 50%. Bask in the various seasonal offers, month ending discounts, couple membership offers and several other discounts which these gyms keep on offering throughout the year to get more clients.
3. Extended warranties
According to a study by a market researcher, new products malfunction either within the initial warranty period – the one that comes with the product when you buy it, or much after the extended warranty period has elapsed. So if you pay for this ‘extended warranty’ you really are just fooling yourself. There have been extremely rare cases where an extended warranty has come useful to repair a phone or a laptop or any gadget, because this kind of warranty also excludes accidental damage or any other damage caused by mishandling.