So you want to get out of debt and you want to know what the 10 things you should stop buying to get out of debt are?
Perfect. Here they are in no specific order.
Cleaning supplies can be a surprising place to burn though a lot of money. In fact, the average American household spends about $600 per year just on cleaning supplies. That may not seem like a lot but it is super easy to avoid most of that money. For doing our laundry we like to make Laundry Sauce similar to the recipe here. For cleaning our surfaces and just about everything else we use a mixture of vinegar, water, and elbow grease. To top it off, in many cases we will use newspaper instead of paper towels when cleaning glass. By taking these simple steps you will not only save a ton of money over a lifetime but you will also have a much less polluted home.
This is the one that most people struggle with. We as a society worship at the alter of “eating out”. However, according to the bureau of labor statistics, The average amount spent on takeout in 2015 was $3,008 per household and $4,015 for groceries. These numbers are shocking. Anyone who is at all familiar with the idea of feeding a family for cheap should cringe at those numbers. Even worse, there is no way in the world that those numbers are accurate or meaningful. If you took that entire restaurant and food budget and added them together that is only a weekly food budget of $134. Even my thrifty family of five isn’t going to get very far on $134 per week.
What this means is that some people are spending an AWFUL lot of money eating out and that these numbers are skewed heavily toward people with no children. Either way eating out is going to cost you thousands of dollars per year that you don’t need to be spending.
This one should be pretty self explanatory. New cars are super expensive and lose a ton of value very quickly. Most of us know that. What many don’t seem to realize is that it is more than how much the car costs, it is HOW you buy it that can make the most difference. Over the price of the loan, the interest that you pay is going to play a significant part in how much you end up paying for the car. The length of the loan is going to matter as well when determining interest volume. Don’t forget to add in all of the extras like window etching, paint protection, extended warranty, all weather mats, pinstripe package, moon roof basic sound package, and all of the other nonsense to the amount you are financing and this can be one of the most costly blunders of your life.
Instead you can opt for a car that is a few years old and taken care of or do what I do and buy disposable cars for every day use and have one “nice” family car.
This one is so easy it hurts my brain. I will admit that I really REALLY don’t like “television”. What I mean by that is “traditional” television. I don’t like watching whatever has been programmed for me at the time it was programmed. I don’t like having to sit through ridiculous commercials and I REALLY don’t like PAYING for the privilege. The fact is, there is virtually nothing that you cannot watch for free on some streaming service or another. There is absolutely no reason to pay for cable anymore.
Magazines and Books
Before you send me hate mail, I LOVE BOOKS. I really do. That is why I know how much money can be spent on books. I have tons (probably literally). You know who else has tons of books though? The library. Seriously. If there is a book you are dying to read, get on the list (if there is one) and/or have your library order the book. They can and will do that for you. Now multiply that $0 you didn’t spend by however many books you read that year and you get that exact amount of money spent. You will probably also read more books.
Cigarettes, Alcohol, Soda
Most people know that you shouldn’t be spending a bunch of money on Cigarettes, Alcohol, and Soda but so many people still do it is incredible. In fact Americans spend $80 billion dollars per year on cigarettes. That is unbelievable. Americans spend $80 billion dollars to give themselves cancer. The multi billion dollar alcohol and soda industry are also grateful for America’s bad decisions.
So how about finally quitting? Your wallet, retirement, and health will thank you. (PS we can all smell you and its gross)
I stopped buying disposable razors about 8 years ago. A friend of mine gave me a double edged Gillette safety razor that I LOVED. I thought there is no possible way anything could get better than this.
Enter the Schick injector razor. These things are the bee’s knees. They are easy to use. Give a great cut. Easy to clean and best of all, the blades last a very very long time if you dry them after each use. In fact, the longevity of all razor blades can be greatly increased by drying the blades after use. I usually get about a month out of each blade before I replace it. I could go longer but I don’t. The replacement blades for one of these is insignificant compared to a typical disposable and the shave is significantly more enjoyable. (It seams weird that there is no link to a razor company here doesn’t it
Seriously quit buying junk. That is just about the main purpose of this list. If I could just write that, I wouldn’t need to spend all of this time finding pictures of puffins and stuff. DON’T BUY JUNK. If it isn’t on the list, you don’t get it. Simple. Look around your house at all of the nonsense you have. Where did it come from? You bought it didn’t you? Stop it.
I used to run a gym. Here is how it goes. You realize one day that you don’t like your body for one reason or another. You decide to plant your flag. “I am going to go join the gym today” you say to yourself. You go to that place that has the $9.99 no contract deal. That sounds pretty good. Not like those OTHER gyms that try to beat you over the head with a contract. Well, gyms are gyms. Next thing you know, you are leaving with a contract. How did that happen? You ran in to a salesman. Now you are paying $39/mo because the one feature you wanted wasn’t included in that price. The best part? You are statistically unlikely to ever set foot in that gym again. If you do, you are unlikely to come back more than 5 times in your ENTIRE contract.
Instead why don’t you just walk your neighborhood. Live in a bad neighborhood? Walk someone else’s. Do some air squats, push ups, pull ups, crunches, or lift a bag of dog good over your head 50 times. Either way, there are tons of ways to get in shape without spending nearly $500 per year per person for something you just will not use.
See that status symbol on the left masquerading as a computer? How about the sunglasses? How about the $20 notebook on the right? Buying fancy status symbols when you have perfectly good working equipment is ridiculous. You can buy a laptop that does nearly everything the apple in this picture does for 1/3rd of the price. Why spend the money for status?
If you have enjoyed this list please follow us wherever you found us.