9 Things I Stopped Buying to Save Money and Build Wealth

Managing money effectively isn’t just about saving—it’s about cutting unnecessary expenses and focusing on investments that build your financial future. In a recent video, a creator shared nine things they stopped buying, helping them save money without sacrificing quality of life. Here’s a deep dive into their practical tips for financial freedom:

1. Physical Books

Reading is invaluable for personal growth, but buying physical copies of every book can drain your wallet and clutter your space. Instead:

• Keep favourite books in hard copy: Cherish timeless reads in physical form.
• Use digital or free alternatives: Invest in a Kindle or borrow eBooks via apps like Libby. Libraries often offer free access to an extensive collection.

2. Brand-New Cars

The allure of a new car fades as soon as it leaves the lot. Here’s why:

• Rapid depreciation: A car loses about 10% of its value immediately and 60% within three years.
• Better alternatives: Consider pre-owned vehicles or delaying your purchase. Investing that money elsewhere could yield returns that fund a future dream car.

3. Souvenirs

Travel is about memories, not material items. Souvenirs often add clutter without meaning. Instead:

• Document your experiences: Create an online journal or vlog to capture travel memories vividly.
• Minimalism matters: Living in a small space? Prioritise experiences over physical mementos.

4. Frequent Tech Upgrades

New gadgets are tempting, but constant upgrades don’t deliver proportional happiness. Think critically:

• Evaluate utility: Ask, “Does this new version offer enough value to justify the cost?”
• Invest wisely: Spend on experiences or essentials that bring lasting joy instead of incremental tech improvements.

5. Sale Items You Don’t Need

Sales exploit psychological triggers, convincing us we’re saving money. To avoid falling into this trap:

• Buy only planned items: If something wasn’t on your list, skip it, even if it’s discounted.
• Reframe the ‘savings’: Spending $140 on an item just because it’s marked down isn’t saving—it’s $140 spent unnecessarily.

6. Investments Without Understanding

Blindly investing can be risky. To avoid losses:

• Educate yourself: Understand where your money is going and ensure investments align with your values and goals.
• Take responsibility: Even with financial advisors, maintain a basic understanding of your portfolio.

7. Fast Fashion

Cheap, trendy clothing may seem like a bargain but often lacks longevity. Switching to:

• Quality over quantity: Invest in durable, versatile pieces.
• Simplify your wardrobe: Fewer items mean less decision fatigue and clutter.

8. High-Maintenance Beauty Routines

Regular beauty treatments like nails, hair dye, or eyelash extensions can cost time and money. Here’s how to cut back:

• Focus on low-maintenance routines: Save money while reclaiming your time.
• Value your hours: Consider how the time spent on these services could be redirected toward activities with greater returns.

9. Unnecessary Holiday Gifts

Gift-giving often stems from habit rather than necessity. During financially tight times:

• Adopt a ‘prenup’ policy: A “no unnecessary present pact” can reduce stress and expenses.
• Give thoughtfully: Find meaningful, low-cost ways to show appreciation without breaking the bank.

The Mindset Shift

Spending should align with joy and value, not habits or the pressure to impress. By reassessing financial decisions as trade-offs, you can prioritise investments that lead to long-term wealth and happiness.

Is it worth spending extra on liabilities like a car now, or could that money grow into something more significant through investment? By following these principles and adopting these Things I Stopped Buying to Save Money, you can build a financially secure future while still enjoying life’s pleasures.

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Zachary Skinner

Zachary Skinner is the editor of TechDrivePlay.com, where tech, cars and adventure share the fast lane.
A former snowboarding pro and programmer, he brings both creative flair and technical know-how to his reviews. From high-performance cars to clever gadgets, he explores how innovation shapes the way we move, connect and live.