Recently, Yahoo! Finance highlighted an article that listed 15 things you shouldn’t be paying for.
Here is their list along with my take on these expenses:
Basic Computer Software
I hardly ever pay for software anymore. There are so many free versions of most popular software – open source, online versions, and extensions of free trials can greatly reduce your software expenses!
Also, if you are a student, the computer lab may have those programs installed, or available for free downloads for students.
If you must pay for software, be sure to check for student versions, or see if you can survive with reduced features (if there is more than one version, the cheaper one may be sufficient).
Your Credit Report
You do not always have to pay for a copy of your credit report! As I wrote when covering the Credit CARD Act of 2009:
“The Fair and Accurate Credit Transactions (or FACT – isn’t our government clever?) Act of 2003 gives consumers the right to obtain a free copy of their credit report once every twelve months from each of the three nationwide consumer credit reporting companies (Equifax, Experian and TransUnion).”
So, you are allowed a free report once a year from each of the three main reporting agencies. This means that you can view your credit report 3 times a year without paying a dime!
Of course, if you want access to your score or monitoring services, you’ll probably have to pay.
Cell Phone
Yes, it’s true that many carriers will give you a free phone (even some smart phones) if you sign a 2-year contract; However, most people are more concerned with the expensive monthly bills. A little while ago we covered exactly how to cut your cell phone expenses.
Books
The library is a great place to rent books. They will have magazines, reference materials, textbooks and other scholarly works, and even bestsellers. Just about every book that has ever been sold has also sat on the shelf of a public library!
If your library doesn’t carry a particular book – or it isn’t available in their network, you can always find it for next to nothing at Amazon.com
Water
Bottled water is one of the greatest ripoffs of the century! Plain old tap water has to go through much more regulation and testing then the bottled variety. If you need it to be portable, just pickup an environmentally-friendly, reusable bottle with a filter
Credit Card
The article was mainly dealing with annual fees, which is definitely something that can easily be avoided. However, reducing your credit card expenses is something that everyone can do as well.
Debt Reduction Help
Before deciding to pay for debt management help, the article suggests “start[ing] with a visit to the National Foundation for Credit Counseling.” Also, if you just need a few tips to help dig yourself out from a mountain of debt, be sure to check out our Debt Management section, or contact us.
Basic Tax Preparation
The IRS maintains a list of services that offer free electronic filing of your federal tax return (there is usually a fee for adding your state taxes). However, if your tax situation is anything more than “basic”, visit our Tax Guide and contact us to schedule an appointment for Tax Preparation.
If you would like to prepare your own taxes with desktop software, here is a good list to choose from
The News
Since just about everything you find in a newspaper is available for free online, there is no need to pay for it. Most towns/counties have websites where they announce everything from school closings to road construction and everything in between. However, if you use coupons, it is probably worth it to purchase at least the Sunday paper. Keep in mind that many coupons can be found online and you should check our Coupon Database before buying the paper, just to be sure you need it.
Budgeting Tools
There is a decent amount of budgeting and expense tracking software out there that you can get for free. In looking at tracking your expenses in order to create a budget, I highlighted several of them.
Pets
At my last job I met a number of animal lovers. It was there that I learned about the abundance of animal shelters that allow you to adopt pets for a minimal charge (usually to help cover the expenses of caring for the animals).
Shipping
Free shipping is one of the features that made Amazon.com the king of online retailers. Any order over $25 directly from Amazon ships for free. Also, if you are a member of Amazon Prime (free to students), you qualify for free 2-day shipping. Also, check out www.freeshipping.org for over 2400 sites that offer free shipping.
Checking Account
Although I don’t share the author’s disdain for banks being able to make a profit, I do hate paying for checking! There are physical banks and credit unions that still offer free checking, so don’t settle for an account that you have to pay for.
Also, many online banks offer free checking, and will also provide free access to your money via extensive ATM networks.
DVD Rentals
Most of us have seen those RedBox DVD rental kiosks around, however, the article also highlighted this fact, ” if you use one of the coupon codes from www.insideredbox.com you can avoid the $1 charge”! Also, don’t neglect your local library when it comes to free DVD (and CD) rentals!
Exercise
There are plenty of exercises that you can do around the house. Also, jogging or walking in a park (preferably before dark) is a great alternative to an expensive gym package. Oh, don’t forget about those free DVD rentals – pick up a workout video!
What are some things that you used to pay for that you now get for free?
photo credit: RambergMediaImages
© 2010, Khaleef Crumbley. All rights reserved.
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{ 18 comments… read them below or add one }
Hi, I don’t pay for any of the above, except PHONE. I am a rare individual who does not have an expensive phone & doesn’t talk on the phone much (except to my mom, daughter, or hubby). In fact I have a pay as you go phone by Virgin!
Hello Barb,
I think that should earn you a pass!
The fact that you have such a cheap plan would make up for not getting a free phone by signing a contract in my opinion.
Wow! This is a great list. While reading it, I thought that someone could combine “Debt Reduction Help” with using the library by checking out “The Total Money Makeover” by Dave Ramsey or some other helpful resource…all for free.
I still pay for my newspaper. Somehow, enjoying my newspaper just doesn’t feel right when I am looking at a computer screen. But then, I may have developed affinity for newspapers when I delivered them as a kid.
I think that the newspaper is going to hang around for a while. Many people don’t want to read a computer screen all day at work, and then while relaxing as well – although the Kindle’s e-ink technology might change that.
Thanks for the comment!
I run a software company 1DayLater time tracking and while I agree that you don’t HAVE to pay for software, you often should want to. It means you’re a) getting the right support and b) supporting the company. If you’re using open source then naturally there’s no company to support but if you download privately developed software you should pay for it. Often a lot of time and expense has gone into developing it. That’s my 2 cents anyway
Hello Paul, thanks for the comment! You make a good point. If you choose to go the free route, you may have to rely on forums and inconsistent support – although, some free packages offer robust support.
One thing that I have found is that many of the free software programs will give you the option of donating to support development. I think that may be a great melding of the two ideas.
The world today is a business. Everything depends on money. You want food. You have to spend money, you want to mail something, you have to pay for it. You really do have to pay for everything whether we want to or not because everything depends on money.
Hello Tracy, I would challenge you to try some of the suggestions in the article and in the comments and see if you can cut your spending.
I agree that most people that produce goods and offer services are only after money, but there are still a number of places you can go for free goods/services!
Thanks for stopping by, hope to see you around often!
Software is right.
Openoffice.org is available for Windows/Mac/Linux and will save you a chunk of change.
I’ve offered frugal comments on Books. It’s killing two birds, when was the last time you re-read a book? Yes, a few reference books are worth having, perhaps, but not many.
I live in an area where a few dozen towns are part of of sharing system, and when a new book comes out I sign up. Within a month or two, it’s at my branch.
One thing that’s not on your list – haircuts. Easier for a guy with short hair a home cut can save $20/mo or every 6 weeks, that really adds up over time.
I think that books probably fall into the category of something that will be difficult to wean people off of (like newspapers and fax machines).
I didn’t even think of haircuts…and we cut my hair at home! Great addition!
Hmmmm…. perhaps not.. but i’m sure glad i paid for my iphone 4! It’s all backed in anyway, when they say free phone, b/c they’ll get you in charges. NO free lunch as they say!
I like to jog/bike along the water in SF. It is beautiful!
Yeah, I paid $100 for my current phone (more than worth it), so I know what you mean.
My wife and I used to walk/jog around a lake…we need to get back out there before the cold weather hits!
These are great tips. I’d also like to add that you can view your Transunion credit score for FREE through CreditKarma.com. Though the credit scores vary by bureau (sometimes by quite a few points!) at least it gives you an idea of a “ball park” figure.
As for the RedBox codes, lately my corner RedBox hasn’t been taking them! Quite frustrating.
I love the idea of not having to pay for DVD Rentals, exercise, and textbooks/books. We have a library for a reason. The weather’s nice out so why not exercise without having to pay a monthly membership? We just need to get more creative when it comes to saving money. There’s so many places where we could cut our living expenses down dramatically.
I agree. I think we are just so used to certain expenses being in our lives, that we don’t bother to question them anymore.
Thanks for stopping by – hope to see you around often!
Coming from WA state I never understood the bottled water thing as we probably have the world’s best water
Other places are not always as blessed. The first time I smelled tap water that stunk and tasted nasty was a shock. So while drinking water may not always be free it is worth checking around for the lowest priced option available.
Couldn’t agree more about the water and the news! Buying bottled water (especially at restaurants) just kills me – just give me some tap water.
I don’t really understand the subscription news services either – with the web, you can get just about anything free these days.
Yeah, bottled water is usually such a ripoff! We’ve come to make needs out of conveniences in this society, and that is usually terrible for our budgets.
I think that people are just so used to newspaper subscriptions that they don’t think they can do without them.
Thanks for the comment!
By the way, Akismet didn’t like you today.
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