Credit Card Insurance
Lots of credit card companies offer opt-out insurance programs when you sign up for one of their cards. These programs are designed to help you make your minimum payment each month if you become disabled or unemployed, which is great in theory but not in practice. In general, these programs have so much red-tape that it is very difficult to actually qualify for benefits. You are usually better off opting-out of the program and using that extra cash to pay down your balance instead.
Unless premium gasoline is recommended for your make and model by the manufacturer, you are not really gaining much by using a higher grade of premium gasoline. For most vehicles, premium gasoline doesn’t yield enough fuel savings to justify the extra cost per gallon at the pump.
Drinking water is essential for your health, but you should avoid buying bottled water at all costs. Instead, you should invest in the one-time purchase of a reusable, washable water bottle. There are lots of varieties to choose from: ones with straws, ones with filters, ones that are insulated, and they come in all the colors of the rainbow. Pick a style you like and take it with you everywhere to avoid paying a premium for bottled water where it can be avoided.
The odds of winning the lottery are so slim, it doesn’t make sense to “invest” in lottery tickets on a regular, or even semi-regular, basis. You are better off investing your money, or even putting it in a regular, low interest, savings account than throwing it down the drain with the purchase of lottery tickets. In fact, I’ve only ever bought one lottery ticket in my whole adult life on my 18th birthday to commemorate the occasion.
Generally speaking, extended warranties are not worth the money. Like lottery tickets, the odds of “cashing in” on the value of any extended warranty are slim. You are usually better off saving a little money every month for the repair and/or replacement of your belongings than purchasing or paying for a monthly extended warranty.
Spending more money than you make is always a big no-no. If you end up over drafting your account due to a mathematical error that’s one thing, but it is especially bad when you end up paying a huge overdraft fee for the purchase of a cheap or unnecessary item. If it happens for the purchase of a $5 fast food meal, it’s like you just paid about $35 for the meal instead. (Assuming your overdraft fee is $30/occurrence.) It just doesn’t make sense. So to avoid overdraft fees, be sure to use a system like Budget Ease to be aware of your spending.
I don’t buy movies on DVD any more or even on Blu-ray. With all the technology options and streaming that’s available for movies, there’s not much point in spending money on individual movies that you don’t watch very often. Plus, they also take up space in your home. Streaming services are fairly cheap at around $8-10 per month with unlimited streaming hours so you can watch as many movies as you want. If you do decide to buy a movie, try to make sure it’s one that’s not available for streaming, or one that you know you’ll watch many times.
What else do you think isn’t worth your hard earned cash?- Catherine Alford