Category: Budgeting


7 Things You’re Spending Money On… And Probably Shouldn’t

Many of us feel that we are spending too much money, but find it hard to reduce what we are spending. Below is a list of things that people often buy but will find that if they stop buying it or reduce how much they are spending, they will get a financial benefit and may also benefit in other ways as well.

Mobile Phones

Many of us like to have the latest mobile phones. Therefore we will replace ours regularly so that we can have the latest. It might be that we have a contract which includes a phone and it seems like a great deal. However, many people spend far more than necessary on phones and contracts and could save a lot of money if they tried a different approach. There are many shops that sell second hand phones and these could be worth looking at first. You can still find fairly recent models of phone but they will be a lot cheaper. You will not necessarily have to get an expensive contract with them either and this could save money. Make sure that you know how much you use your phone and what for and get the cheapest contract you can for that usage.


Most people enjoy drinking alcohol. Some drink it when they are out, perhaps out for an evening of drinking, with a meal or just at home. Alcohol does vary in price depending on what type you buy but if you drink when you are in a bar, pub, restaurant or wine bar you will pay out a lot more money than if you buy it in a supermarket and drink it at home. Many people who drink alcohol are also not aware of some of the health problems that it can cause either, as it is not written on the bottle. Although we are all aware of the dangers of alcoholism and drink driving, most people are not aware that alcohol causes cancer and therefore if we want to look after our health and our money, could be well worth avoiding.

Brand New Cars

It can be great having a brand new car and being the very first owner of a vehicle. Having some parts made to your own specification and having a great status symbol, can be great, but there are many disadvantages to. Obviously new cars do tend to be dearer than second hand, particularly if you compare similar size vehicles. Most cars also lose value as soon as they are driven, which means that you will not get back anything like you have paid for it, even if you sell it with very low mileage. There can also sometimes be teething problems with brand new cars.

Anti-Aging Skin Care

This may seem like an odd thing to mention, but people spend a lot of money worrying about how old they look and buying products to try to make them look younger. The problem with skin is that it is designed to be a barrier to keep liquids out. This means that whatever you put on your skin will not absorb in and so will not make a significant difference to how you look. If you want to improve your skin then staying hydrated inside can make a difference as dry skin will be more likely to wrinkle. Also staying out of the sun or protecting the skin from the sun will prevent the damage which leads to signs of aging.

Overly Expensive Utilities

Many people are paying a lot more for their utility bills than they need to be. It could be because they are using too much water or energy and should look into ways to be more efficient. However, the biggest overspend tends to be with those that stay with the same supplier for a long time rather than taking advantage of the cheaper deals that are available. It is well worth finding out whether there are companies that you can use that will charge you less so that you can save money.

Loan Repayments

Many people have loans and these can be very expensive. Often it is possible to repay loans early and this can save a significant amount of money. If you have enough money then it is wise to repay the loan early as you can save money on interest. It is worth looking at the debts that you have and how much interest you are paying. Consider how much you will save if you are able to repay it early and then you may decide that you should pay it back more quickly.

Ready Meals

There are many food items that we spend too much money on and ready meals are one of them. Things like premade sandwiches and meals can be really expensive. There are some meals that are not that difficult to make and if we made a large batch and froze portions, we could make them without spending too much time and save lots of money. We would also be able to make healthier items and our body would benefit as well as our wallets.