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3 Things You Should Never Buy With Your Money

3 Things You Should Never Buy With Your Money

By Keeley TanPublished 2 years ago 4 min read
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When it comes to saving money, we all know that we need to make some changes. But, how can you do so without sacrificing your favorite things? The answer lies in making smart financial decisions - especially when it comes to spending your hard-earned cash. If you’re ready to start prying your wallet open and save some green, then you might be interested in these 3 things you should never buy with your money:

Fake Things

Fake things are all around us, so it can be easy to get swept up in the craze. However, faking things is a quick way to go broke, and you’ll never find quality fakes at an authentic price. Although you might save a few bucks by buying counterfeits, you’ll quickly spend more on quality control and potential lawsuits. There’s also the risk of getting busted, which can lead to all sorts of unwanted consequences, like losing your job or even getting arrested.

By getting quality authentic items, you might save in the long run. Having good quality authentic items allows you to use them for a way longer period of time compared to cheap counterfeits. I actually have a wallet that I bought 11 years ago and am still using it today because the quality is so good. If I were to get counterfeits, the products might not last as long, and the replacement costs will most probably exceed the good quality product.

So, what are you waiting for? Start saving those green dollars by avoiding fake things.

Unnecessary Services

While services like lawn mowing, parking, and cleaning services are often necessary and provide convenience, many of these services cost way too much, especially if you do it yourself. Take lawn mowing, for example. Mowing your own lawn is significantly cheaper and more environmentally friendly since you don’t have to deal with a whole team of people. When it comes to unnecessary services, there’s no limit to how much you can save.

On another side of the fence, there if you are able to use the time saved from doing these services and generate income, feel free to use them. For example, if lawn mowing costs $30 and takes 2 hours, and if you're able to make more than $30/hr, it will be wise to engage these services as you will have a net gain eventually.

If it makes you green, don’t do it.

Overpriced Products

Many products cost more today than they did a few years ago. There’s nothing wrong with that, but you should try to avoid buying any products that seem overpriced. For example, you might notice that you can buy a really good fridge for half the price of a fancy new one. If you can wait and get the old one refilled instead of buying the new, fancy model, then you’ll save a ton of green. The same goes for items like furniture, electronics, food, and even clothes. Another method is to wait for discounts, especially Black Friday sales. These products can be purchased at a huge discount and you are able to stretch your money.

When picking items to buy, you should always keep a few things in mind. For example, if you plan to use an item often, you should choose something durable and affordable.

Conclusion

With so many ways to save money, it can be hard to stick to a budget. However, by following these tips, you can make it easier to stick to a budget and save money while doing so. Start by making an effort to notice new ways to save money, like when shopping or when using services. Once you’re more aware of the options available to you, you can start taking action. By making small changes, you can save big bucks and get even more out of your hard-earned cash. If you’ve managed to avoid these 3 things you should never buy with your money, be sure to me know in the comments!

Let me know what you plan to do and what resonates with you the most. Like and share with your friends and family that will find this article useful.

Find more about me here.

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About the Creator

Keeley Tan

Chartered Accountant (Singapore). I write about personal finance, personal development, and about my financial journey.

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