In the book “Rich Habits”, Thomas Corley analyzed more than 170 self-made millionaires to see what makes them tick, which habits drive their ambition and success. And he found that before they got rich, they completely wiped out any bad spending habits because you see it’s not the amount of money you spend on something that stops you from getting rich; it’s the psychological slave you become to the dopamine hit of that purchase.
Just in the USA alone, a study showed that the population spend $1.2 million a year on things they don’t need and look my friend, wealth is built on two pillars:
- First, increasing your earning power and
- Second, using your money to create compounding opportunities for growth.
And everyone’s second pillar is crumbling before their eyes, so, it’s time to control alt delete those habits and you can do that by taking these 15 things off your buy list for the next few years. Let’s get to it!
- Convenience Fees That Steal Your Cash
This is the time to move convenience fees down the line of your priorities because it quietly bleeds your money without giving you anything meaningful in return.
That extra charge for food delivery might seem small but when you add up that service fee and the tip inflated prices then you’re paying far more than that meal is actually worth. Another bogus convenience fee is express shipping for something that could have arrived a day later; that’s impatience disguised as necessity! These costs might feel small at the moment but over time they stack up into a mountain of wasted cash. You get rich by paying attention to these small costs and habits and then finding ways to fix them. It’ll be hard to do it at first because the fees are easy to justify in the moment because you’re tired, you’re busy or you’re just in a rush but those little ‘ah just this once’ moments can become a habit that eats away at your ability to save and grow wealth.
Every dollar you spend on convenience is a dollar that could be working harder for you somewhere else. You grow your wealth when you stop paying for shortcuts and start using your time and money in deliberate ways.
- Bulk Buys That Go to Waste
Now most people think that buying in bulk saves them money but studies show they’re wrong. Humans actually don’t know how little we need and we already overcompensate with normal purchases so when you’re buying in bulk you’re more likely to force yourself to use something you don’t actually need or let it go to waste.
Unless you’ve got a big family or an event coming up you’re not saving money by buying more than you need. So, buying in bulk is only a win when you’ve actually planned for it; grabbing deals on things you don’t need turns your savings into clutter you stockpile and then they end up sitting in closets or cabinets.
Everything you don’t use represents cash that you could have invested, saved or spent on something that genuinely improves your life. To build wealth, you have to understand the difference between value and volume; stocking up only makes sense when it’s strategic and deliberate. When you shift from mindless consumption to mindful choices you free up money, space and energy for what really matters.
- Trendy Tech Upgrades That Add Nothing
Tech companies don’t just sell products, they sell the illusion of progress. They tell you that because you don’t have the latest model of something you’re falling behind; it’s not just a simple product upgrade, it’s a lifestyle upgrade and that is where they get you!
The newest smartphone doesn’t make you smarter and the latest Smartwatch doesn’t make you more productive. Most of the time, these upgrades offer some marginal improvements but the cost does not match what you actually get out of it. Wealth isn’t built by trading perfectly functional things for slightly better ones, it’s built by prioritizing real value over fleeting trends.
Real wealth comes from discipline, not from staying in step with trends that don’t move you forward.
- Getting caught up in the Kitchen Gadget Rage
In the last few years kitchen gadget sales have reached almost $20 billion which is great if you’re a part of the products and sales industry but not, if you’re a consumer. You’re buying into the promise of convenience when all you’re adding is clutter and waste like those avocado slicers or egg peelers are sold as solutions but to what end. For something you can do yourself with your hands, maybe you save an extra 10 seconds but you lose a lot more when you get sucked into that habit of buying tools that only do one thing. To be honest, your basic kitchen tools do the job just fine! You can choose to break down your wealth by filling your home with stuff that solves imaginary problems or you can choose to build it up by focusing on things that maximize value and minimize waste. So, skip the flashy kitchen gadgets and focus on tools that work for you.
- The ‘New Year, New Me’ Subscription Frenzy
New year, new you, new subscription, sound familiar? Yeah, it’s a trap! Every year millions of people around the world decide the best way to reach their goals is to sign into an expensive contract that helps them for the next 12 months but studies show that month by month most New Year’s resolutions have flown out the window. Yet, a lot of people still sign up for an average of four locked-in subscriptions on super expensive gyms, meal delivery services, and even online courses. And yes, these are meant to motivate you but motivation isn’t born out of trapping yourself into a payment plan. It comes from making your goals as easy as possible to reach in the first place. Most people think you’ll do something when you’re committed to spending money on it but in reality you’ll only do it if it slots into your life easily.
- Holiday Decor You Don’t Have Room For
It’s easy to get caught up in the holiday spirit and want to get all those shiny new ornaments for your home but do you have to buy so many new ornaments and trinkets every year even when you buy it on a clearance sale that feels like a steal? It starts your year off with a slow drain on your wallet for things that you don’t need. New decorations every year don’t actually add any long-term value to your life; they lose their charm pretty quickly, become outdated or end up packed away in boxes you don’t have space for. The cost of over buying goes beyond what you spend at the store; instead of stockpiling more, focus on a few meaningful pieces that you love and reuse year after year. When you notice you’re looking at new decor for every season, think about how that affects your wallet or your resources in the future. Think about how it will impact your time, money and space. You don’t want your stuff to end up owning you.
- Last minute + guilty-feeling gifts
Buying someone a gift because you feel guilty is one of the easiest ways to overspend and so is buying gifts at the last minute. The guilt makes you feel like you have to spend more on them to feel better about yourself and getting something at the last minute makes you stressed, panicky, and a little bit desperate. So, you throw money at the solution just to get out of it. When you buy gifts to prove your love, make up for missed time or out-do somebody else, the purchase doesn’t come from a genuine place; it comes from pressure and it creates a cycle. You spend more than you can afford to feel better for a moment but the financial stress catches up with you later. Breaking the habit of buying gifts out of guilt will allow you to focus on the parts in your relationship that really matter. After all, thoughtfulness and intention build stronger connections than any gift ever could.
- Cheap wellness fads that don’t work
By now everyone knows that Wellness fads like juice cleansers, accountability clubs and fat-burning teas promise quick results but they’re built on marketing hype not science. They’re not sustainable and they are not cheap. They don’t just fail to deliver, they can actually be dangerous because a lot of them deprive your body of proper nutrients and haven’t even been Health-tested in some cases. The allure of a shortcut to good health keeps you from investing in what truly works; sustainable habits things like eating whole foods, exercising regularly and resting when you need to. These fads prey on impatience; they promise instant results and convince you to hand over your money without considering the long-term cost. The world’s definition of wealth is changing; it is no longer just about financial security, your physical and mental well-being are just as important. So, choosing proven consistent tools over expensive trends is always going to be far more valuable.
- Clearance rack clothes you don’t love
Marketing gets all of us all the time, so, often you’ll find yourself walking into a store seeing the sale sign and buying something you don’t actually want just because it’s cheap. If it’s not something you’d pay full price for then it’s not something you’ll like in the long run. If it’s an impulse buy, it’ll end up buried at the bottom of your closet. Discounts don’t really add value to anything, especially when you get yourself into the habit of falling for marketing gimmicks all the time.
- New Year’s Resolutions That Cost Money
Now, the rush in the name of a fresh start is driven by excitement not logic or smart decisions. New Year’s resolutions tied to spending are often the first step toward financial regret! It’s tempting to dive into January with an expensive gym membership, costly courses or brand new equipment thinking you’re investing in self-improvement but without a clear plan or consistent commitment these purchases quickly turn into wasted money. The treadmill collects dust or you never start that course… You have to test yourself and your resolve first and get yourself into the routine before you throw money at it. This piece of advice may feel proactive but transformation doesn’t come from any flashy purchase; it comes from discipline and consistency. When you commit to growth without relying on purchases to drive your progress, you create a stronger foundation for long term change.
- Designer Logos That Don’t Add Value
When you spend on those obvious designer names just remember you’re paying for the name not the quality. Luxury Brands charge massive markups because their value is tied to perception rather than substance! You can get a wardrobe full of timeless well-made pieces that are still good quality with a fraction of what you’d spend on a designer brand. Doing this is a habit like that shows that you’re investing in your long-term financial health, not somebody else’s branding. The appeal of designer logos is rooted in status. It’s about being seen and admired but wealth doesn’t need to announce itself. True success shouldn’t be loud, it should be steady and enduring.
- That souvenir identity crisis
If you’ve been buying one type of souvenir for the last few years and you’ve built up a collection that you like to show off, then go for it (but that is just not what happens most of the time). Souvenirs seem like a way to hold on to the memories of a trip but they break quickly, pile up, you forget about them and most importantly you develop a habit of buying small cheap things. They don’t actually make your experience better unless it’s something you’re really into. Memories don’t have to be tied to objects; a photograph, a funny situation or story, a great conversation that came up from your travels holds a lot more value than a mass-produced souvenir from a gift shop.
By resisting the urge to buy souvenirs you keep your focus on the experience and if you love souvenirs and it’s a big part of your trip then that’s fine but you shouldn’t be spending all of your money on things that just gather dust no matter how small.
- Daily Lottery Tickets because hey You “Might Win”
Are there some lottery winners? Well, yeah of course! In fact, someone in my hometown won a lottery and their life changed. So, of course, there’s always a chance of winning but there’s a far greater chance of getting sucked into a habit of throwing money into a pit hoping for a miracle. Your odds of winning are low and it is not a financial strategy. When you understand that, you start to put the money toward more rational and reliable Investments. It might be like a small amount of money every week when you compare it to what you might win but over time the cumulative costs add up to thousands and most people have nothing to show for it. The lottery prays on emotion and sells the fantasy of instant wealth while disguising the reality of poor returns.
- Shiny new fitness gear you don’t need
Now, I had to put this in here because across all demographics, sales of activewear have skyrocketed. The global athleisure market is projected to be worth more than $700 billion by 2030. So, everybody’s buying the clothes but are they using it? No, nowhere near as much as they’re buying. Even if you work out every single day your gym wardrobe should not be bigger than your everyday wardrobe and the more you buy the more you feel like you don’t have enough. Having a wardrobe of workout clothes isn’t going to make you stronger, faster or more committed. If you invest in good quality, those clothes will last you years. You can look the part without forming those bad habits and breaking the bank. You already have what you need to start building your strength or endurance or flexibility, so focus on that because that’s what truly matters here.
- Cheap Furniture That Costs More Long-Term
Who doesn’t love a good Ikea haul? You get everything in one place, it looks fine and it’s cheap and functional but the thing is, unless you’re willing to spend the money, things are going to start breaking pretty quickly. It’s mass produced in a factory line that makes the process as quick as possible and it’s done with materials you can get for cheap. Nothing about it is made to last so you’ll keep buying and replacing and buying and replacing; now, you’ve spent money, time and frustration. If you can buy your time and save your money, invest in furniture that is actually going to last and it looks a lot better too. A solid wood table or a sturdy chair can outlive countless cheap alternatives and they’ll elevate your living space too. We can see and feel good quality and since you spend so much time in your home, it’s just not worth it to buy quick cheap pieces that you’ll end up hating in just a few months.
