To avoid wasting money, financial experts suggest cutting back on items that might not best serve your needs, such as:
- cable television, since there are less expensive alternatives such as online streaming, which save a person over $800 a year.
- name-brand razor blades costs can be reduced by using a membership program or by shopping at a discount retailer.
- bottled water costs can reduced by using a home purification system.
- USB drive costs can be reduced with the use of cloud storage.
For additional information on wise buying, click here:
- Have students talk to others and create a list of items on which money is often wasted.
- Have students suggest lower-cost alternatives for various items that are purchased regularly.
- What actions can be taken to find low-cost alternatives for items that are purchased frequently?
- Explain short-term and long-term financial benefits of saving money on items that are purchased frequently.