7 Things You Should Always Cheap Out On

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Successfully managing personal finances requires striking a balance between saving and indulging. While it’s okay to treat yourself occasionally, there are certain items that are better to save on. 

It’s essential to be mindful of your spending habits and prioritize your budget. By cutting back on certain items, you can free up more funds for the things that truly matter to you.

1. Cleaning Products

It’s better to buy cheap cleaning products — they are just as effective as expensive, brand-name products. Cleaning products are designed to accomplish the same task, regardless of the brand or price point. The active ingredients that make cleaning products effective are often the same across different products. The difference in price often comes from branding, packaging, and marketing. 

2. Moisturizer

There’s no need to spend a fortune on a luxurious moisturizer when you can find an effective one at a lower cost. Many high-end creams may be amazing, but they aren’t necessarily worth the added cost. 

One example of a cost-effective option is Aquaphor, which is a dermatologist-recommended and celebrity-endorsed moisturizer. It can be used for a variety of skin issues like dry lips and cracked skin and it costs a fraction of the price of luxury alternatives. 

3. Gift Wraps

Cheap gift wraps essentially serve the same purpose as expensive ones, which is to provide a visually appealing and protective covering for a gift. The main difference is that expensive gift wraps are often made of more premium materials and may have more intricate designs, while cheaper gift wraps may be made of less expensive materials and have simpler designs.

However, the wrapping paper is usually discarded after the gift is opened. It makes more sense to buy cheaper gift wraps that are still functional and serve the same purpose. 

Hot Tip: It’s a good idea to collect gift bags that you receive – they are reusable and cost effective compared to gift wrap that will be ripped up and thrown away!

4. Travel

Money experts recommend finding the best deals and saving money on travel to make the most of your budget. One way to do this is by looking for discounted package rates that bundle together flights, accommodations, and other travel services at a lower cost than purchasing them separately. 

To find these deals, it’s suggested to use online search tools such as TripAdvisor, Expedia, and Hotels.com. These sites allow you to compare prices and find the best deals on flights, hotels, and vacation packages. Additionally, opting to fly coach instead of the first class can help you save even more on your travel expenses.

5. Jewelry

It’s perfectly acceptable to mix high-end jewelry pieces from brands such as Cartier, Tiffany, and Rolex with more affordable options, like costume jewelry. Not only does this give you a wider variety of choices without breaking the bank, but it also allows you to express your unique style and personality.

Lots of personal shoppers and stylists confirm that many of their financially successful clients incorporate frugal finds into their jewelry collections. By mixing in some affordable pieces from big-box stores like Target or Walmart with your more expensive pieces, you can create a look that is both stylish and budget-friendly. 

6. Designer Items

Buying designer items is a personal choice and there are several reasons why the cost-per-wear value may not be as low as some may believe. First, the quality of designer items is not always as advertised. Second, the cost of repairing designer items can sometimes be more than what you paid for the item. 

Another thing to consider is duplicates of designer items. These dupes are of good quality and often match the vibe of the original without faking the logos or looking like a knock-off. 

7. Pets

Did you know adopting a pet from a shelter instead of buying from a breeder or pet store can save you hundreds of dollars?

The initial price tag of a pet can range from hundreds to thousands of dollars, depending on factors like location, age, breed, and more. However, adopting a pet is generally much cheaper. The Animal Humane Society lists standard adoption fees for dogs and puppies as $118‒$667, while cats and kittens cost $34‒$276. In contrast, a purebred dog from a breeder can cost as much as $3,000. Additionally, many shelters will reduce or waive adoption fees for older animals or during special events.

Bottom Line

All in all, managing personal finances requires finding a balance between saving and indulging in what is important to you. It’s essential to be mindful of your spending habits and to prioritize your budget. By cutting back on certain items, you can have more funds for the things that truly matter to you and still maintain a functional and stylish lifestyle.