In today’s fast-paced world, it’s easy to fall into the trap of spending money on things that don’t add significant value to our lives. Frugal people understand the importance of mindful spending and know how to save without breaking the bank.
As a former student who had to embrace frugal life, I’ve had more than three years of experience with frugal living.
Here are ten things frugal people avoid spending their hard-earned cash on, helping you to save money and improve your financial health.
This post is all about the things frugal people never buy.
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THINGS FRUGAL PEOPLE AVOID BUYING
1. Technology:
Latest Model Smartphone
Ever heard the saying, “If it ain’t broke, don’t fix it?” Frugal people know upgrading to the latest and greatest gadgets every year is a habit that can quickly drain your bank account. Instead of buying something new every time, frugal people choose to stick with their current devices if they still work well. Instead of buying the newest phone, consider purchasing a refurbished model or a second-hand device from platforms like eBay. This way, you can enjoy modern technology without overpaying.
I used to want to upgrade my phone practically every year, thinking I needed the latest features. After skipping an upgrade cycle or two, I realized my 2-year-old phone still worked perfectly fine. I’ve saved hundreds of pounds (dollars) since then by only upgrading when truly necessary.
The phone I currently have is a Samsung Galaxy 22 Ultra, and I haven’t felt the need to upgrade to the latest version since purchasing it.
2. Water:
Bottled Water From the Store
Why spend money on bottled water when you can get it from the tap at home? Frugal people don’t waste money on bottled water; instead, they invest in a reusable water bottle and, if necessary, a water purifier. This simple switch not only saves money but also reduces plastic waste, benefiting the environment. Reusable water bottles are convenient and can keep your water cold or hot for extended periods, making them a better choice overall.
When I calculated how much a friend of mine was spending on bottled water each month, I was shocked. Switching to a reusable bottle and filtered tap water saved her over £23 ($30) a month – that’s (£280) $360 a year just from this one change!
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3. New Vehicle:
Buying a brand new car from the dealership
New cars depreciate in value the moment you drive them off the lot. They require ongoing expenses like fuel, insurance, road tax, and maintenance. Frugal people know that used cars are a smarter financial choice. You can find reliable used vehicles at a fraction of the price of a new one. Trust me, I learned this the hard way—buying used can save you thousands of dollars without compromising on quality.
Financial expert Dave Ramsey advises, “don’t go into debt to buy stupid stuff.”
I once bought a new car back in 2017, and I was excited about that new car smell. Within three years, it had depreciated by more than 40%. Now, I still have that car, but only because I refuse to trade it in to get a new one, on a new contract, and start all over again.
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4. Luxury Brands:
Designer Clothes or Products
Designer clothes and products often come with hefty price tags, but do they truly offer better quality? More often than not, you’re paying for the brand name rather than superior craftsmanship. Frugal people view designer items as unnecessary luxuries. Frugal people don’t buy designer clothes; instead, they opt for high-quality generic brands or shop at thrift shops. Save your money for something that genuinely enriches your life instead of paying the “stupidity tax.”
FYI: The stupidity tax if a voluntary tax that people pay when they ought to know better or lack common sense.
5. Reading:
Books
Books are wonderful, but the cost can add up quickly if you’re buying new hardcovers or paperbacks. Frugal people use their local library or switch to e-books or audiobooks. They are usually cheaper, and you get the same content. If you love the feel of a physical book or are a collector, this might be a tough habit to break. However, for most readers, digital formats offer a more cost-effective way to enjoy your favorite authors.
Here is a link to the Kindle version of my little book on Amazon called “The Ultimate Guide to College Study Skills: Achieve More in Less Time: The Quick and Easy Path to Higher grades, Master Time Management & Effective Note-taking to Ace Your Exams“.
6. Brand Names:
Brand-Named Foods at the Store
Just like with designer clothes, brand-named foods often carry a premium price without a corresponding increase in quality. Frugal people know that generic brands usually contain the same ingredients and are produced in the same factories. By choosing store brands or generic options, you can save a significant amount of money without sacrificing taste or nutrition. Frugal people don’t overpay for brand names—they look for ways to maximize their savings with every purchase.
I was skeptical about generic brands at first, but after doing a blind taste test with my family years ago using brand-name and generic cereals, we couldn’t tell the difference, and we have been buying the generic brands ever since. Now, we save about 20% on our shopping/ grocery bills by opting for store brands.
7. Security:
Warranties and Product Insurances
While it may seem wise to buy warranties or insurance for expensive items, these costs can add up unnecessarily. You are essentially pre-paying for potential repairs. Frugal folks prefer to take good care of their items and save the money they would have spent on warranties. In the long run, they find it better to avoid paying for extended warranties or product insurances, as they often don’t provide the value you might expect.
8. Games:
Lottery Tickets or Scratch Cards
The allure of winning big can be tempting, but the odds are heavily stacked against you. Buying lottery tickets or scratch cards is akin to throwing money away. Frugal people understand that financial security comes from smart planning and saving, not gambling. Focus on building your wealth through reliable investments rather than hoping for a lucky break. Frugal people avoid spending on things with such slim chances of return.
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9. Cable TV:
In the age of streaming services, paying for cable TV is often redundant. Services like Netflix, Hulu, and Disney+ offer vast libraries of content for a fraction of the cost of traditional cable. Frugal consumers choose streaming over cable to save money on entertainment. Unless you’re a die-hard sports fan who needs live sports coverage, cutting the cord can save you hundreds of dollars each year.
Cutting the cord on Sky cable TV about a decade ago was a game-changer for our family budget. I now use a combination of streaming services such as Prime Video, Netflix and Disney+ that costs me less than half of what I used to pay for Sky TV (cable), and I have more control over what I watch.
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10. Animals:
Pets
Pets bring joy and companionship but also come with significant costs. From food and vet bills to grooming and boarding, owning a pet can be as expensive as raising a child. Before getting a pet, frugal people consider whether they can afford the ongoing expenses and if they have the time to care for them properly. If not, it might be wiser to wait until they’re in a better financial position.
Other ways to embrace frugality
Be Creative
What is something you save money on that you can’t believe other ppl don’t do it ?
byu/Revolutionary-Boss77 inFrugal
Learn to Budget
“A budget is telling your money where to go instead of wondering where it went.”
Dave Ramsey.
Here is an article that I think you would love on: 15+ Incredible Side Hustles for Young Adults to Earn the Best Extra Cash
Mindful Spending: A Path to Financial Freedom
Mindful spending is more than just a budgeting technique; it’s a lifestyle choice that empowers you to take control of your financial future. By adopting a thoughtful approach to where your money goes, you safeguard your finances and enhance your overall quality of life. Start with small steps, like reviewing your daily expenditures, and gradually build a spending philosophy that supports your financial needs and deepest life goals.
By cutting out these ten unnecessary expenses, frugal people redirect their money towards savings, investments, or experiences that truly matter. Remember, financial independence is not about earning more; it’s about spending wisely.
Check back to my blog every week for more helpful content on managing your finance. Comment below if you are spending money on any of these things on the list. We’d love to hear from you!
This post was all about the things frugal people never buy.
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