Good Morning DINKS. Today we are discussing our tendency (if any) to overpay for items that we need, items that we want, and items that we love. Think about your last purchase…did you get a good deal for the item or did you totally overpay for it?
More often than not we all like to find a great deal, but unfortunately sometimes we end up overpaying for our items. Sometimes we overpay for our items out of convenience and sometimes we overpay for our items just because we really want them. Overpaying for items is never cost efficient, but sometimes it happens.
According to MSN Money here are some items that are always overpriced:
1. Food and Snacks at the Movies. A couple’s date night at the movies may end up costing over $50 when you add in the price of movie tickets, popcorn, candy, and drinks. If you and your sweetie are going out to the movies for a date night try and eat at home beforehand…it can save you a bundle of money.
2. Parking Meters and Tickets. I am personally guilty of this. I absolutely hate paying money at the parking meters, but it is definitely a lot cheaper than paying for a parking ticket.
3. Computer Printer Ink Cartridges. We can buy a new printer and three months down the road we can find out that it costs half of the original price of the printer to replace the ink cartridges. Sometimes stores like Wal-Mart will sell both the colour ink cartridge along with the black ink cartridge in a duo package deal, but even that can be expensive.
4. Bottled Water. I am also guilty of this, I usually try to buy a case of bottled water because it is definitely cost efficient when we purchase 24 bottles of water for only $2.99, but unfortunately sometimes I end up buying an individual bottle of water for $1.00.
5. Specialty Coffees and Lattes. A cup of coffee, a cappuccino, a latte, or a hot chocolate at Starbucks can cost up to $5 (or more) depending on the size of our cup. If we drink 2-3 cups of coffee per day our daily coffee costs can definitely add up.
6. Oil Changes and Car Washes. The DIY craze is taking over the world by storm. People are doing home renovations and redecorations all by themselves, so why can’t we do our car maintenance by ourselves? We can save a lot of money if we change our oil and wash our car on our own instead of visiting the dealership or garage.
7. Eating Out and Ordering In. Takeout food and restaurant food is definitely over priced because we are paying for convenience. It’s a lot easier to order something and have it delivered than it is to cook and clean dishes.
8. ATM Fees and Bank Fees. As a bank employee I always tell clients to try and avoid paying monthly bank fees or ATM fees because they are totally overpriced. I hate withdrawing money from another bank’s ATM because it can cost us $3 when we withdraw $20. If our checking or savings account requires that we maintain a minimum monthly balance in order to avoid a monthly service fee, then we should definitely try to maintain the minimum monthly balance.
Photo by Parker Michael Knight
Kristina Tahnyak
Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.
I hate paying for food at the movies, I hardly ever do.
I pay for very few of these and I’m starting to try to find a parking space that is free so I don’t have to pay. All of these things are so expensive!
But eating food/snacks from the movies is half the fun! Lol. I’m guilty of doing many of these, since sometimes I like paying a little extra for convenience. I would probably ruin my car if I tried to DIY my own repairs or oil changes. I’d rather pay the maintenance guy.
We do well with most of those things. We don’t drink coffee, we go to the cheap theatre ($5 a ticket), we find free parking and walk etc.
BUT… we just can’t bring ourselves to change our own oil. I imagine it’d be a very messy job… and awkward! My mechanic is able to stand under the car (the floor drops down) to do the oil change.. but I can’t imagine how we’d be able to do it at home! I’ll pay the $30.
It is very easy to refill your own printer cartridges, and it can save lots of money. I but the kit at walmart for $20 and can refill the cartridges at least 3 times. After a while they don’t print as well and you need to buy a new one, but it still saves you lots. Just make sure to wear rubber gloves, otherwise your hands might be covered with funny colors for a few days. :)