The saying “A penny saved is a penny earned” holds more significance than ever, especially as inflation and rising costs continue to strain American budgets.
While cutting back on luxuries is one way to save, you can also avoid paying for things you can easily get for free or at a fraction of the cost.
Below are ten essential items you should never pay for, plus seven bonus tips to help you maximize your savings.
1. Bottled Water
Did you know Americans spend over $15 billion annually on bottled water? While it’s convenient, bottled water isn’t just expensive—it’s often unnecessary. Most tap water in the U.S. is heavily regulated and safe to drink.
- Solution: Invest in a reusable water bottle and a home water filter system like Brita or PUR.
- Look for free water refill stations in parks, airports, and gyms.
2. Air for Your Tires
Tires feeling a little soft? Don’t pay for air! In states like California and Connecticut, gas stations are required to provide free air and water for customers who purchase fuel.
- Pro Tip: If you’re a Costco member, their tire centers offer free nitrogen refills, and in many cases, you don’t even need a membership.
3. Credit Reports
Your credit report is an essential tool for managing your financial health, but you shouldn’t pay to access it.
- Federal law allows you to get one free credit report annually from each of the three major bureaus—Equifax, Experian, and TransUnion.
- Visit AnnualCreditReport.com. Many banks and credit cards also offer free credit monitoring.
4. Bank Fees
Paying monthly account maintenance fees, ATM surcharges, or overdraft fees is an unnecessary drain on your finances.
- Switch to online banks like Chime, Ally, or Capital One 360, which offer fee-free accounts.
- Set up low-balance alerts to avoid overdraft charges.
5. Shipping Fees
Many online shoppers fork over extra for shipping when it’s often avoidable.
- Sign up for loyalty programs like Amazon Prime, Target Circle, or Walmart+, many of which offer free delivery.
- Use free shipping promo codes from sites like RetailMeNot or Honey.
- Opt for free in-store or curbside pickup options.
6. Moving Supplies
Cardboard boxes and packing tape can be surprisingly expensive when you’re moving. But why pay when you can get them for free?
- Craigslist and Facebook Marketplace are excellent resources for finding free moving supplies.
- U-Haul offers a Box Exchange Program, where movers share gently used boxes and other supplies.
7. Extended Warranties
Retailers love upselling extended warranties, but these are often redundant or unnecessary. Most products already come with a manufacturer’s warranty.
- Tip: Many credit cards, such as Visa Signature and Mastercard, automatically extend warranties for free on eligible purchases.
8. Tax Filing Services
Why pay to file your taxes when there are free options available?
- The IRS provides a Free File Program for individuals with incomes under $73,000.
- Tax software like TurboTax Free Edition and H&R Block Free Online are great for simple returns.
- Many libraries and community centers offer free tax preparation services through VITA (Volunteer Income Tax Assistance) programs.
9. Unnecessary Supplements
Americans spend billions of dollars annually on supplements with little to no proven benefits.
- Harvard Men’s Health Watch notes that for most people, supplements like multivitamins don’t improve health.
- Focus on getting nutrients from your diet, and consult your doctor before considering supplements like Vitamin D, B12, or B6, which may be helpful depending on your needs.
10. Books and Magazines
Books and magazines can be a significant expense, but they’re easy to get for free.
- Visit your local library for access to physical and digital resources, including eBooks and audiobooks via apps like Libby or Hoopla.
- Websites like Project Gutenberg offer thousands of free public domain books.
- Swap books with friends or check out local book exchange programs.
11. Lottery Tickets
Playing the lottery may seem like harmless fun, but it’s essentially throwing your money away.
- The odds of winning the Powerball jackpot are 1 in 292.2 million—you’re more likely to be struck by lightning or attacked by a shark.
- Save the money you’d spend on tickets and put it into a savings or investment account instead.
12. Streaming Services
Streaming subscriptions like Netflix, Hulu, and Disney+ can quickly become a financial burden.
- Rotate free trials or share accounts with family members.
- Consider free streaming services like Pluto TV, Tubi, or Crackle for a variety of content.
13. Basic Software
You don’t need to pay for costly software like Microsoft Office or Photoshop.
- Use free tools like Google Workspace (Docs, Sheets, Slides) or Canva for design work.
- Open-source software like LibreOffice and GIMP are robust, free alternatives.
14. A New Cell Phone
Shelling out $1,000 for the latest smartphone is unnecessary. Many cellular providers offer free or heavily discounted phones when you switch to their services.
- Check promotions from major carriers like Verizon, AT&T, or T-Mobile.
- Consider refurbished models, which are often just as good as brand-new devices.
15. Financial Advice
Getting expert financial advice doesn’t have to cost you hundreds of dollars.
- Banks like Chase and Wells Fargo often offer free financial consultations to customers.
- Use free budgeting apps like Mint, Personal Capital, or YNAB (You Need a Budget).
16. Credit Cards
Many Americans unnecessarily pay high annual fees for credit cards.
- Opt for no-annual-fee rewards cards like the Chase Freedom Flex or Discover It Cashback.
- If you choose a card with a fee, ensure the rewards and perks outweigh the cost.
Additional Tips to Save Even More
- Comparison Shop: Use apps like Honey or Rakuten to ensure you’re always getting the best deal.
- Freebies Online: Websites like Freecycle and Craigslist have “free” sections where people give away items.
- Negotiate Services: Call your cable or internet provider and ask for a better deal.