There is already a post on how to save money by reducing ant expenses. But there are other expenses that we must avoid at all costs regardless of what your goal is (invest, save, use it for other expenses …). Whatever it is, avoiding these (and others that I encourage you to contribute in the comments) will help your economy.
Buy a new motorcycle or car
There is no worse financial investment than the purchase of a new vehicle, because as soon as it leaves the dealership it is already devalued.
Maybe you need a new vehicle in your home and you think, why not buy it new? You get it for the first time, you know it hasn’t been driven and therefore it doesn’t have a bad treatment as it can happen in used ones… But there are many options to avoid having to spend so much money on something that only, in general, what it does is to depreciate.
A good option: “0km”. Release new car but saving a good part. Because they are still new cars, but configured and registered by the dealership itself. It has its advantages (such as saving some taxes) and its disadvantages (such as not being able to configure it to your liking).
Constantly changing cell phone
It always feels good to have new technology, to feel up to date. But if you have something that works… Why change it just like that? Cell phones don’t get outdated from one year to the next, so changing it too often is counterproductive for our pocket.
It does not mean that if you need to buy one, do it with a model with good performance, as long as you meet the previous point of course. Better a good one that will last you a long period of time (adapting it to your needs, neither more nor less) than changing it every few years.
Protecting it with cases and screen protectors goes without saying how much it helps its preservation. The longer it lasts the better, it’s not something we should change frequently.
Buying things you don’t need
It has happened to all of us to want something fervently, often even almost impulsively, but… Do you really need it? A lot of objects around us are probably not exactly necessary for our life, and yet, there they are.
I’m not saying you should get rid of your stuff (although it never hurts to practice some minimalism and throw away the expendable), but keep a cool head for future purchases. Do I really need that or is it just a product of marketing? You’ll be surprised how many times you don’t really need something and marketing pulls a made-up need out from under your sleeve.
(No, you don’t need that rubber ducky with the pirate hat, although it’s probably hilarious, why deny it).
Compulsive clothes shopping
Clothes are, logically, necessary. But there is a certain threshold that, if we exceed it, we enter into an unnecessary waste of money. I’m not talking about having a couple of shirts and pants, we all like to dress well and comfortably, there is no need to go to any extreme, not everything is black and white.
A middle ground can be to have 3 or 4 garments of each type that you use, even having more with the style that you use the most. Besides, you can always renew your closet from time to time. What’s more, I recommend doing it with quality clothes. They tend to last longer because they tend to use good fabrics.
Regarding the old clothes that you want to renew, selling them or giving them away is a good option to give them a second life.
Buying something on price alone without regard to quality
Here the same as in the previous point or that of mobiles, it is always better to buy something of quality and that you know it will last a long time, than to buy something just because it is cheap without taking into consideration its quality.
It is true that not everything cheap is of bad quality and not everything expensive is of good quality. That is why here we cannot judge by price, but we have to be aware of the purchase we are going to make. I will give you an example that happened to me myself:
A computer mouse and a headset with microphone. I spent a long time buying these two peripherals of poor quality guided exclusively by the price. Until I got fed up of them constantly breaking and decided to invest a little more time (researching which ones were worth it) and money.
I was surprised when I saw that the price difference was not so high and yet the change to a better quality was abysmal. Moreover, I started to make a small calculation of what I had spent on so many peripherals of poor quality, and I saw that I could have even bought 2 mice and 2 good quality headphones with that money…
That is why I tell you, not in vain, that it is preferable something of good quality. And I reiterate that not everything cheap is bad, nor everything expensive is exempt from being so, you will have to be the ones who invest a little time in researching which are the best in quality and price.